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Results
31-Jul-21
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Analysis
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Container Corporation Of India
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Strong show on weak base
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Standalone net sales (including other operating income) of Container
Corporation Of India for the quarter ended June 2021 has increased 52% to Rs 1807.54
crore driven by 35% jump in throughput to 991746 TEUs. Operating
profit margin has jumped from 13.4% to 24%, leading to 173% rise in operating
profit to Rs 433.52 crore. Employee cost decreased from 6.69% to
5.45%. Other expenses fell from 79.93% to 70.57%.
Freight charges fell from 54.85% to 53.37%. Other
direct service cost fell from 19.06% to 14.67%. Other income fell 6%
to Rs 55.52 crore. Provision for interest up 64% to Rs 13.91
crore. Provision for depreciation rose 3% to Rs 130.32
crore. Profit before tax grew 314% to Rs 344.81
crore. Provision for tax was expense of Rs 89.94 crore, compared to
Rs 21.67 crore. Effective tax rate was 26.08% compared to 26.00%. Profit
after tax rose 313.28% to Rs 254.87 crore.
Sales of Exim segment has gone up 45.09% to Rs 1,306.74 crore
(accounting for 72.29% of total sales) with volume handled up 30% to 815077
TEUs. Sales of Domestic segment has gone up 73.61% to Rs 500.80
crore (accounting for 27.71% of total sales) with its volume handled up strong
69% to 176669 TEUs.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 266.46% to Rs 336.12 crore. PBIT of Exim segment rose 275.43%
to Rs 289.16 crore (accounting for 86.03% of total PBIT). PBIT of
Domestic segment rose 219.46% to Rs 46.96 crore (accounting for 13.97% of total
PBIT).
PBIT margin of Exim segment rose from 8.6% to 22.1%. PBIT
margin of Domestic segment rose from 5.1% to 9.4%. Overall PBIT
margin rose from 7.7% to 18.6%.
Consolidated net sales (including other operating income) of Container
Corporation Of India has increased 52.40% to Rs 1819.94 crore. Sales of
Exim segment has gone up 45.07% to Rs 1,307.40 crore (accounting for 71.84% of
total sales). Sales of Domestic segment has gone up 74.96% to Rs
512.54 crore (accounting for 28.16% of total sales). Profit before
interest, tax and other unallocable items (PBIT) has jumped 296.36% to Rs
332.86 crore. PBIT of Exim segment rose 277.98% to Rs 288.78 crore
(accounting for 86.76% of total PBIT). PBIT of Domestic segment rose
481.53% to Rs 44.08 crore (accounting for 13.24% of total PBIT). PBIT
margin of Exim segment rose from 8.48% to 22.09%. PBIT margin of
Domestic segment rose from 2.59% to 8.60%. Overall PBIT margin rose
from 7.03% to 18.29%. Operating profit margin has jumped from
13.32% to 24.08%, leading to 175.44% rise in operating profit to Rs 438.20
crore. Employee cost decreased from 6.75% to 5.46%.
Other expenses fell from 79.93% to 70.46%. Freight
charges fell from 54.62% to 53.01%. Other direct service cost fell
from 19.02% to 14.77%. Other income fell 0.79% to Rs 56.85
crore. Provision for interest rose 48.88% to Rs 16.02 crore. Provision
for depreciation rose 3.30% to Rs 138.26 crore. Profit before tax
grew 374.68% to Rs 340.77 crore. Share of profit/loss was 19.51%
lower at Rs 7.22 crore. Provision for tax was expense of Rs 89.55
crore, compared to Rs 22.5 crore. Effective tax rate was 25.73%
compared to 27.86%. Minority interest increased 66.38% to Rs -0.79
crore. Net profit attributable to owners of the company increased
327.70% to Rs 259.23 crore.
Other developments
Promoters’ stake was 54.80% as of 30
June 2021, compared to 54.80% as of 30 June 2020.
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Container
Corporation of India: Result
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Particulars
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2106
(3)
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2006
(3)
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Var.
(%)
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2106
(3)
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2006
(3)
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Var.
(%)
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2103
(12)
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2003
(12)
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Var.(%)
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Net
sales
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1807.54
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1189.14
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52
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1807.54
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1189.14
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52
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6384.96
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6473.79
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-1
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OPM(%)
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24.0
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13.4
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24.0
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13.4
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16.2
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25.9
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OP
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433.52
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159.03
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173
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433.52
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159.03
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173
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1032.86
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1674.93
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-38
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Other
Income
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55.52
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58.80
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-6
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55.52
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58.80
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-6
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285.48
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279.73
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2
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PBIDT
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489.04
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217.83
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125
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489.04
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217.83
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125
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1318.34
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1954.66
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-33
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Interest
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13.91
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8.47
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64
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13.91
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8.47
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64
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33.96
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36.07
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-6
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PBDT
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475.13
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209.36
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127
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475.13
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209.36
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127
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1284.38
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1918.59
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-33
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Depreciation
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130.32
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126.02
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3
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130.32
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126.02
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3
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521.92
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513.00
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2
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PBT
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344.81
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83.34
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314
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344.81
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83.34
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314
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762.46
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1405.59
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-46
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EO
Income
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0.00
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0.00
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0.00
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0.00
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-83.36
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-881.63
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-91
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PBT
After EO
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344.81
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83.34
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314
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344.81
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83.34
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314
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679.10
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523.96
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30
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Tax
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89.94
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21.67
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315
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89.94
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21.67
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315
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175.77
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148.18
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19
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PAT
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254.87
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61.67
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313
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254.87
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61.67
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313
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503.33
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375.78
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34
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Prior
period adjustment
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0.00
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0.00
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0.00
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0.00
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0.00
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0.00
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Net
profit
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254.87
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61.67
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313
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254.87
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61.67
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313
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503.33
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375.78
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34
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EPS(Rs)*
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#
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#
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#
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#
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9.3
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16.5
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*Annualised
on current equity of Rs 304.65 crore; Face Value of Rs 5
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Figures
in Rs crore
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Source:
Capitaline Corporate Databases
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Container
Corporation of India: Segment Results
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Segment
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% to
total
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2106
(3)
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2006
(3)
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Var.(%)
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% to
total
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2106 (3)
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2006 (3)
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Var.(%)
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% to total
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2103
(12)
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2003
(12)
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Var.(%)
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Sales
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EXIM
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72
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1306.74
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900.67
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45
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72
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1306.74
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900.67
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45
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74
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4712.99
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4930.13
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-4
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Domestic
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28
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500.80
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288.47
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74
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28
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500.80
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288.47
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74
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26
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1671.97
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1543.66
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8
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Total
Sales
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100
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1807.54
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1189.14
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52
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100
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1807.54
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1189.14
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52
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100
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6384.96
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6473.79
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-1
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PBIT
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EXIM
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86
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289.16
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77.02
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275
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86
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289.16
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77.02
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275
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93
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646.36
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368.38
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75
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Domestic
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14
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46.96
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14.70
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219
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14
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46.96
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14.70
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219
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7
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48.34
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80.85
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-40
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Total
PBIT
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100
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336.12
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91.72
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266
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100
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336.12
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91.72
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266
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100
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694.70
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449.23
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55
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LESS:
Interest expenes
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13.91
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8.47
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64
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13.91
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8.47
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64
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33.96
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36.07
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Other
unallocable expenses
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-22.60
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-0.09
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####
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-22.60
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-0.09
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###
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-101.72
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-131.38
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-23
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EO
Income
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-83.36
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-20.58
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PBT
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344.81
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83.34
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314
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344.81
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83.34
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314
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679.10
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523.96
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30
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| Container Corporation Of India : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202106 | 202006 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 1,819.94 | 1,194.20 | 52.40 | 6,427.08 | 6,539.42 | -1.72 | | OPM (%) | 24.08 | 13.32 | 1,076 bps | 16.29 | 25.90 | -961 bps | | OP | 438.20 | 159.09 | 175.44 | 1,046.80 | 1,693.80 | -38.20 | | Other Inc. | 56.85 | 57.30 | -0.79 | 270.41 | 253.44 | 6.70 | | PBIDT | 495.05 | 216.39 | 128.78 | 1,317.21 | 1,947.24 | -32.36 | | Interest | 16.02 | 10.76 | 48.88 | 42.90 | 46.05 | -6.84 | | PBDT | 479.03 | 205.63 | 132.96 | 1,274.31 | 1,901.19 | -32.97 | | Depreciation | 138.26 | 133.84 | 3.30 | 553.38 | 544.41 | 1.65 | | PBT | 340.77 | 71.79 | 374.68 | 720.93 | 1,356.78 | -46.86 | | Share of Profit/(Loss) from Associates | 7.22 | 8.97 | -19.51 | 31.31 | 38.83 | -19.37 | | PBT before EO | 347.99 | 80.76 | 330.89 | 752.24 | 1395.61 | -46.10 | | EO Income | 0 | 0 | - | -78.65 | -851.82 | 90.77 | | PBT after EO | 347.99 | 80.76 | 330.89 | 673.59 | 543.79 | 23.87 | | Taxation | 89.55 | 22.5 | 298.00 | 172.98 | 138.09 | 25.27 | | PAT | 258.44 | 58.26 | 343.60 | 500.61 | 405.7 | 23.39 | | Minority Interest (MI) | -0.79 | -2.35 | 66.38 | -4.53 | 2.18 | LP | | Net profit | 259.23 | 60.61 | 327.70 | 505.14 | 403.52 | 25.18 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 259.23 | 60.61 | 327.70 | 505.14 | 403.52 | 25.18 | | EPS (Rs)* | 4.25 | 0.99 | 327.70 | 9.24 | 16.72 | -44.72 | | | * EPS is on current equity of Rs 304.65 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Container Corporation Of India : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202106 | 202006 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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| Sales | | Exim | 71.84 | 1,307.40 | 901.25 | 45.07 | 73.36 | 4,714.84 | 4,930.91 | -4.38 | | Domestic | 28.16 | 512.54 | 292.95 | 74.96 | 26.64 | 1,712.24 | 1,608.29 | 6.46 | | Total Reported Sales | 100.00 | 1,819.94 | 1,194.20 | 52.40 | 100.00 | 6,427.08 | 6,539.20 | -1.71 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,819.94 | 1,194.20 | 52.40 | 100.00 | 6,427.08 | 6,539.20 | -1.71 | | PBIT | | Exim | 86.76 | 288.78 | 76.40 | 277.98 | 95.28 | 644.06 | 363.20 | 77.33 | | Domestic | 13.24 | 44.08 | 7.58 | 481.53 | 4.72 | 31.89 | 73.50 | -56.61 | | Total PBIT | 100.00 | 332.86 | 83.98 | 296.36 | 100.00 | 675.95 | 436.70 | 54.79 | | Less : Interest | | 16.02 | 10.76 | 48.88 | | 42.90 | 46.05 | -6.84 | | Add: Other un-allcoable | | 31.15 | 7.54 | 313.13 | | 40.54 | 153.14 | -73.53 | | PBIT Margin(%) | | Exim | | 22.09 | 8.48 | 1,361.10 | | 13.66 | 7.37 | 629.45 | | Domestic | | 8.60 | 2.59 | 601.28 | | 1.86 | 4.57 | -270.76 | | PBT | 100.00 | 347.99 | 80.76 | 330.89 | 100.00 | 673.59 | 543.79 | 23.87 |
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