|
Gujarat Pipapav Port held a conference call on Feb 4, 2015. In the conference call the company was represented by , Managing Director and Hariharan, CFO of the company.
Key takeaways of the call
Income from operation for the quarter ended Dec 2014 was up by 27% to Rs 184.5 crore. But with 80 bps contraction in EBITDA margin to 54.5% the EBITDA was up by 25% to Rs 100.5 crore. Eventually the net profit was up by 16% to Rs 89.3 crore.
| Throughput |
|
|
|
|
|
Quarter ended |
|
|
Dec-14 |
Dec-13 |
YoY Change (%) |
QoQ Change (%) |
| Container (in TEUs) |
196000 |
187000 |
4.8 |
1.0 |
| Bulk (in Metric Tonnes) |
1208000 |
538000 |
124.5 |
19.2 |
| Rail Volume (in Metric Tonnes) |
2800000 |
1900000 |
47.4 |
21.7 |
| ICD (in TEUs) |
143320 |
119001 |
20.4 |
2.0 |
| Trains handled (in nos) |
665 |
642 |
3.6 |
0.0 |
Container cargo increased by 5% over corresponding previous period and was nearly flat (up 1%) on sequential basis. Higher reefer cargo more than offset the weaker cotton exports.
Sharp jump in bulk cargo in Q4CY2014 compared to corresponding previous period was largely on account of higher coal and fertilizer cargo. Of the bulk cargo of 1.2 million metric tonne in Q4CY2014 about 526000 MT was coal, 5279000 MT was fertilizers and 119000 MT was minerals. In Q4CY2013 the coal volume was 200000 MT, Fertilizers was 237000 MT and minerals was 95000 MT. The coal cargo in Q4CY2014 was lower on sequential basis.
Liquid cargo: Liquid volume stood at 80000 MT as 2 operators commenced operation during the second half of calendar year 2014. The third one is expected to commence operation in Q1CY2015. Since the liquid cargo is the by products of crude oil with the crash the importers are cautious and are not starting and storing as they used to on steady price rise scenario.
Announced rate increase in January 2015. There are carriers still negotiating with the commercial department of the company. So full picture is not yet kicked in. Post hike the rates are higher than JNPT but slightly lower than other competing ports.
Cotton exports are staying subdued in quarter ended March 2014 as well.
In Q4CY2014 the realization for container is about Rs 6000/TEUs and for bulk it is flat at about Rs 400/tone.
The company changed its financial year from Jan-December to April-March thus the current fiscal ends on March 2015.
Capacity expansion will be completed and operational by Q1FY2016.
|