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The company held its conference call on 1st Nov 2017 which was represented by Key management
Key Highlights
Total handling volumes in Exim stood at 1465661 TEU while domestic handling volumes stood at 247878 making total handling volumes of 1713539 for H1 ended Sep 17, up by 12.8% YoY. The growth was driven by strong imports and also improvement in market share by Concor.
Total originating volumes in Exim stood at 993182 TEU while domestic originating volumes stood at 122639 making total originating volumes of 1115821 for H1 ended Sep 17, up by 9% YoY.
Capex for FY 18 will be around Rs 1000 crore and for FY 19 it will be around Rs 1400-1500 crore.
Little sluggishness in the market in domestic segment due to GST in Sep 17 quarter as compared to June 17. Transition to GST has led to some slow down in domestic growth. Expects things to improve going forward.
Margins improved per TEU basis. Margins improved from 1067 per TEU to 1566 per TEU in domestic market for H1 ended Sep 17 on YoY basis and for Exim, the margins per TEU improve from 4132 to 4186 for H1 ended Sep 17 on YoY basis.
Logistics market is maturing. More containerisation to take place going forward which will eventually lead to higher volumes going forward.
Market share of the company has improved by 1.6% in H1 FY 18 on YoY basis to 73.3% in Exim.
There has been some shift traffic from JNPT to Mundra. Also traffic has shifted to East coast basis. In India, the East coast market is going to develop further which will lead to some changes in lead time.
For H1 FY 18 in JNPT, the market share for the company stood at 83% improved by 200 bps while Mundra port saw market share stood at 50% in H1 ended Sep 17, down by around 100 bps YoY.
In railways, double stacking has benefited the margins. Also in empty running the company has saved around Rs 13 crore in H1 ended Sep 17 on YoY basis.
Margins per TEU in railways improved from 21.18% in H1 ended Sep 16 to 24.27% in H1 ended Sep 17.
The company has increased some tariff as well which helped margins.
The company did receive around Rs 233 crore as one time rebate in FY 17 from government in Mar 17 quarter. So far no such announcements have been made, but the company expects such rebate also in FY 18.
Overall expects around 12% of volume growth in FY 18.
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