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Results
19-May-24
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Analysis
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Container Corporation Of India
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Sales up 7%, PAT up 6%
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Standalone net sales
(including other operating income) of Container Corporation Of India for the
quarter ended Mar 2024 has increased 7.00% to Rs 2,317.63 crore. Operating
profit margin has jumped from 20.53% to 21.10%, leading to 9.96% rise in
operating profit to Rs 489.01 crore. Employee cost decreased from
5.73% to 5.30%. Other expenses fell from 73.74% to 73.60%.
Freight charges rose from 56.02% to 57.99%. Other
direct service cost fell from 12.95% to 11.08%. Other income fell
1.93% to Rs 93.67 crore. PBIDT rose 7.86% to Rs 582.68
crore. Provision for interest up 30.49% to Rs 19 crore. PBDT
rose 7.23% to Rs 563.68 crore. Provision for depreciation rose 4.67%
to Rs 160.26 crore. Profit before tax grew 8.28% to Rs 403.42
crore. Extraordinary items were decreased to Rs -7.14
crore. Provision for tax was expense of Rs 101.74 crore, compared to
Rs 92.84 crore. Effective tax rate was 25.67% compared to 25.00%. Profit
after tax rose 5.77% to Rs 294.54 crore.
Sales of Exim segment has gone up 8.91% to Rs
1,441.84 crore (accounting for 62.21% of total sales). Sales of
Domestic segment has gone up 4.01% to Rs 875.79 crore (accounting for 37.79% of
total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 3.06% to Rs 404.77 crore. PBIT
of Exim segment rose 2.71% to Rs 326.14 crore (accounting for 80.57% of total
PBIT). PBIT of Domestic segment rose 4.58% to Rs 78.63 crore
(accounting for 19.43% of total PBIT).
PBIT margin of Exim segment fell from 23.99% to
22.62%. PBIT margin of Domestic segment rose from 8.93% to
8.98%. Overall PBIT margin fell from 18.13% to 17.46%.
Consolidated Net sales
(including other operating income) of Container Corporation Of India for the
quarter ended Mar 2024 has increased 6.45% to Rs 2325.13 crore.
Operating profit margin
has jumped from 20.65% to 21.43%, leading to 10.45% rise in operating profit to
Rs 498.20 crore. Employee cost decreased from 5.73% to 5.29%.
Other expenses fell from 73.62% to 73.28%. Freight
charges rose from 55.55% to 57.80%. Other direct service cost fell
from 13.03% to 10.85%. Other income fell 1.10% to Rs 92.74
crore. PBIDT rose 8.46% to Rs 590.94 crore. Provision for
interest rose 19.94% to Rs 20.03 crore. PBDT rose 8.10% to Rs 570.91
crore. Provision for depreciation rose 4.42% to Rs 164.51
crore. Profit before tax grew 9.66% to Rs 406.40
crore. Share of profit/loss was 215.21% higher at Rs 16.58
crore. Provision for tax was expense of Rs 105.15 crore, compared to
Rs 96.47 crore. Effective tax rate was 24.86% compared to 25.67%. Minority
interest increased 221.43% to Rs 0.90 crore. Net profit attributable
to owners of the company increased 13.55% to Rs 316.93 crore.
Sales of Exim segment has gone up 8.91% to Rs
1,442.10 crore (accounting for 62.02% of total sales). Sales of
Domestic segment has gone up 2.65% to Rs 883.03 crore (accounting for 37.98% of
total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 4.31% to Rs 409.47 crore. PBIT
of Exim segment rose 2.69% to Rs 326.15 crore (accounting for 79.65% of total
PBIT). PBIT of Domestic segment rose 11.20% to Rs 83.32 crore
(accounting for 20.35% of total PBIT).
PBIT margin of Exim segment fell from 23.99% to
22.62%. PBIT margin of Domestic segment rose from 8.71% to
9.44%. Overall PBIT margin fell from 17.97% to 17.61%.
Full year results analysis
Standalone net sales (including other operating income) of Container
Corporation Of India for fiscal ended Mar 2024 has increased 6.53% to Rs
8,632.49 crore. Operating profit margin has declined from 22.73% to
22.35%, leading to 4.75% rise in operating profit to Rs 1,929.56
crore. Employee cost increased from 5.27% to 5.36%.
Other expenses rose from 71.99% to 72.29%. Freight
charges rose from 55.59% to 56.88%. Other direct service cost fell
from 13.21% to 12.41%. Other income up 16.74% to Rs 378.27
crore. PBIDT rose 6.54% to Rs 2307.83 crore. Provision
for interest up 14.59% to Rs 65.33 crore. PBDT rose 6.33% to Rs
2242.5 crore. Provision for depreciation rose 8.44% to Rs 600.88
crore. Profit before tax grew 5.57% to Rs 1,641.62
crore. Extraordinary items were decreased to Rs -7.14
crore. Provision for tax was expense of Rs 403.69 crore, compared to
Rs 384.65 crore. Effective tax rate was 24.70% compared to 24.76%. Profit
after tax rose 5.28% to Rs 1,230.79 crore.
Sales of Exim segment has gone up 6.53% to Rs
5,553.53 crore (accounting for 64.33% of total sales). Sales of
Domestic segment has gone up 6.52% to Rs 3,078.96 crore (accounting for 35.67%
of total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 0.73% to Rs 1,512.19 crore. PBIT
of Exim segment fell 1.06% to Rs 1,248.63 crore (accounting for 82.57% of total
PBIT). PBIT of Domestic segment rose 10.18% to Rs 263.56 crore
(accounting for 17.43% of total PBIT).
PBIT margin of Exim segment fell from 24.21% to
22.48%. PBIT margin of Domestic segment rose from 8.28% to 8.56%. Overall
PBIT margin fell from 18.53% to 17.52%.
Consolidated net sales (including other operating income) of Container
Corporation Of India for fiscal ended Mar 2024 has increased 5.93% to Rs
8653.41 crore. Operating profit margin has declined from 22.84% to
22.63%, leading to 4.95% rise in operating profit to Rs 1,957.94
crore. Employee cost increased from 5.27% to 5.35%.
Other expenses rose from 71.89% to 72.02%. Freight
charges rose from 55.14% to 56.74%. Other direct service cost fell
from 13.37% to 12.20%. Other income rose 18.17% to Rs 370.34
crore. PBIDT rose 6.85% to Rs 2328.28 crore. Provision
for interest rose 11.41% to Rs 71.18 crore. PBDT rose 6.72% to Rs
2257.1 crore. Provision for depreciation rose 7.96% to Rs 618.61
crore. Profit before tax grew 6.25% to Rs 1,638.49
crore. Share of profit/loss was 42.15% higher at Rs 30.05
crore. Provision for tax was expense of Rs 406.45 crore, compared to
Rs 389.72 crore. Effective tax rate was 24.36% compared to 24.93%. Net
profit attributable to owners of the company increased 7.39% to Rs 1,260.59 crore.
Sales of Exim segment has gone up 6.53% to Rs
5,554.33 crore (accounting for 64.19% of total sales). Sales of
Domestic segment has gone up 4.86% to Rs 3,099.08 crore (accounting for 35.81%
of total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 1.68% to Rs 1,522.57 crore. PBIT
of Exim segment fell 1.03% to Rs 1,248.67 crore (accounting for 82.01% of total
PBIT). PBIT of Domestic segment rose 16.19% to Rs 273.90 crore
(accounting for 17.99% of total PBIT).
PBIT margin of Exim segment fell from 24.20% to
22.48%. PBIT margin of Domestic segment rose from 7.98% to
8.84%. Overall PBIT margin fell from 18.33% to 17.60%.
Promoters’ stake was
54.80% as of 31 March 2024 ,compared to 54.80% as of 31 March 2023
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Standalone Loan funds
rose to Rs 887.98 crore as of 31 March 2024 from Rs 700.22 crore as of 31 March
2023. Inventories rose to Rs 49.94 crore as of 31 March 2024 from Rs
37.18 crore as of 31 March 2023. Sundry debtors were higher at Rs
329.45 crore as of 31 March 2024 compared to Rs 213.10 crore as of 31 March
2023. Cash and bank balance rose to Rs 3,238.88 crore as of 31 March
2024 from Rs 3,047.88 crore as of 31 March 2023. Investments
declined from Rs 1,442.52 crore as of 31 March 2023 to Rs 1,333.57 crore as of 31
March 2024. Fixed assets increased to Rs 6,595.92 crore as of 31
March 2024 from Rs 6,134.07 crore as of 31 March 2023. Intangible
assets declined from Rs 17.77 crore to Rs 16.91 crore.
Consolidated Cash flow
from operating activities decreased to Rs 1,388.50 crore for year ended March
2024 from Rs 1,405.83 crore for year ended March 2023. Cash flow used
in acquiring fixed assets during the year ended March 2024 stood at Rs 742.26
crore, compared to Rs 575.66 crore during the year ended March
2023.
| Container Corporation Of India : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 2,317.63 | 2,165.99 | 7.00 | 8,632.49 | 8,103.40 | 6.53 | | OPM (%) | 21.10 | 20.53 | 57 bps | 22.35 | 22.73 | -38 bps | | OP | 489.01 | 444.72 | 9.96 | 1,929.56 | 1,842.06 | 4.75 | | Other Inc. | 93.67 | 95.51 | -1.93 | 378.27 | 324.02 | 16.74 | | PBIDT | 582.68 | 540.23 | 7.86 | 2,307.83 | 2,166.08 | 6.54 | | Interest | 19 | 14.56 | 30.49 | 65.33 | 57.01 | 14.59 | | PBDT | 563.68 | 525.67 | 7.23 | 2,242.50 | 2,109.07 | 6.33 | | Depreciation | 160.26 | 153.11 | 4.67 | 600.88 | 554.09 | 8.44 | | PBT | 403.42 | 372.56 | 8.28 | 1641.62 | 1554.98 | 5.57 | | PBT before EO | 403.42 | 372.56 | 8.28 | 1641.62 | 1554.98 | 5.57 | | EO Income | -7.14 | -1.25 | -471.20 | -7.14 | -1.25 | -471.20 | | PBT after EO | 396.28 | 371.31 | 6.72 | 1634.48 | 1553.73 | 5.20 | | Taxation | 101.74 | 92.84 | 9.59 | 403.69 | 384.65 | 4.95 | | PAT | 294.54 | 278.47 | 5.77 | 1230.79 | 1169.08 | 5.28 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 294.54 | 278.47 | 5.77 | 1230.79 | 1169.08 | 5.28 | | EPS (Rs)* | 4.92 | 4.59 | 7.32 | 20.29 | 19.20 | 5.65 | | | * 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 : Standalone Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | Exim | 62.21 | 1,441.84 | 1,323.94 | 8.91 | 64.33 | 5,553.53 | 5,212.87 | 6.53 | | Domestic | 37.79 | 875.79 | 842.05 | 4.01 | 35.67 | 3,078.96 | 2,890.53 | 6.52 | | Total Reported Sales | 100.00 | 2,317.63 | 2,165.99 | 7.00 | 100.00 | 8,632.49 | 8,103.40 | 6.53 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 2,317.63 | 2,165.99 | 7.00 | 100.00 | 8,632.49 | 8,103.40 | 6.53 | | PBIT | | Exim | 80.57 | 326.14 | 317.55 | 2.71 | 82.57 | 1,248.63 | 1,262.06 | -1.06 | | Domestic | 19.43 | 78.63 | 75.19 | 4.58 | 17.43 | 263.56 | 239.21 | 10.18 | | Total PBIT | 100.00 | 404.77 | 392.74 | 3.06 | 100.00 | 1,512.19 | 1,501.27 | 0.73 | | Less : Interest | | 19.00 | 14.56 | 30.49 | | 65.33 | 57.01 | 14.59 | | Add: Other un-allcoable | | 10.51 | -6.87 | LP | | 187.62 | 109.47 | 71.39 | | PBIT Margin(%) | | Exim | | 22.62 | 23.99 | -136.55 | | 22.48 | 24.21 | -172.69 | | Domestic | | 8.98 | 8.93 | 4.88 | | 8.56 | 8.28 | 28.44 | | PBT | 100.00 | 396.28 | 371.31 | 6.72 | 100.00 | 1,634.48 | 1,553.73 | 5.20 |
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| Container Corporation Of India : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 2,325.13 | 2,184.33 | 6.45 | 8,653.41 | 8,169.12 | 5.93 | | OPM (%) | 21.43 | 20.65 | 78 bps | 22.63 | 22.84 | -21 bps | | OP | 498.20 | 451.08 | 10.45 | 1,957.94 | 1,865.55 | 4.95 | | Other Inc. | 92.74 | 93.77 | -1.10 | 370.34 | 313.40 | 18.17 | | PBIDT | 590.94 | 544.85 | 8.46 | 2,328.28 | 2,178.95 | 6.85 | | Interest | 20.03 | 16.70 | 19.94 | 71.18 | 63.89 | 11.41 | | PBDT | 570.91 | 528.15 | 8.10 | 2,257.10 | 2,115.06 | 6.72 | | Depreciation | 164.51 | 157.54 | 4.42 | 618.61 | 573.01 | 7.96 | | PBT | 406.40 | 370.61 | 9.66 | 1638.49 | 1542.05 | 6.25 | | Share of Profit/(Loss) from Associates | 16.58 | 5.26 | 215.21 | 30.05 | 21.14 | 42.15 | | PBT before EO | 422.98 | 375.87 | 12.53 | 1668.54 | 1563.19 | 6.74 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 422.98 | 375.87 | 12.53 | 1668.54 | 1563.19 | 6.74 | | Taxation | 105.15 | 96.47 | 9.00 | 406.45 | 389.72 | 4.29 | | PAT | 317.83 | 279.4 | 13.75 | 1262.09 | 1173.47 | 7.55 | | Minority Interest (MI) | 0.9 | 0.28 | 221.43 | 1.5 | -0.4 | PL | | Net profit | 316.93 | 279.12 | 13.55 | 1260.59 | 1173.87 | 7.39 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 316.93 | 279.12 | 13.55 | 1260.59 | 1173.87 | 7.39 | | EPS (Rs)* | 5.20 | 4.58 | 13.55 | 20.69 | 19.27 | 7.39 | | | * 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) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | Exim | 62.02 | 1,442.10 | 1,324.10 | 8.91 | 64.19 | 5,554.33 | 5,213.74 | 6.53 | | Domestic | 37.98 | 883.03 | 860.23 | 2.65 | 35.81 | 3,099.08 | 2,955.38 | 4.86 | | Total Reported Sales | 100.00 | 2,325.13 | 2,184.33 | 6.45 | 100.00 | 8,653.41 | 8,169.12 | 5.93 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 2,325.13 | 2,184.33 | 6.45 | 100.00 | 8,653.41 | 8,169.12 | 5.93 | | PBIT | | Exim | 79.65 | 326.15 | 317.61 | 2.69 | 82.01 | 1,248.67 | 1,261.62 | -1.03 | | Domestic | 20.35 | 83.32 | 74.93 | 11.20 | 17.99 | 273.90 | 235.74 | 16.19 | | Total PBIT | 100.00 | 409.47 | 392.54 | 4.31 | 100.00 | 1,522.57 | 1,497.36 | 1.68 | | Less : Interest | | 20.03 | 16.70 | 19.94 | | 71.18 | 63.89 | 11.41 | | Add: Other un-allcoable | | 33.54 | 0.03 | 1,11,700.00 | | 217.15 | 129.72 | 67.40 | | PBIT Margin(%) | | Exim | | 22.62 | 23.99 | -137.05 | | 22.48 | 24.20 | -171.70 | | Domestic | | 9.44 | 8.71 | 72.52 | | 8.84 | 7.98 | 86.15 | | PBT | 100.00 | 422.98 | 375.87 | 12.53 | 100.00 | 1,668.54 | 1,563.19 | 6.74 |
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