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Gujarat Pipavav Port held a conference call on May 28, 2015. In the conference call the company was represented by Keld Pedersen, Managing Director and Hariharan, CFO of the company.
Key takeaways of the call
Container volume for the quarter ended March 2015 stood at 201000 TEUs, a rise of 7% over corresponding previous period. Bulk volume for the same period stood at 921000 MT, an increase of 33% over corresponding previous period.
Liquid cargo volume for the quarter ended March 2015 was at 126000 MT compared to 80000 MT in Q4CY2014. Seeing positive trends in liquid cargo volume going forward.
Based, the company decided to fund its ongoing expansion plan through internal accruals based on current performance and cash flows and consequently cancelled the foreign currency loan (originaly sanctioned USD 152 million in April 2013 but reduced to USD 60 Million in July 2014) from IFC , which was sanction but the company have not made any withdrawal. The management is in the process of completing formalities for release of the charge on the assets pledged. The company booked Rs 34.58 crore incidental to cancellation of FC loan as one off expenses during quarter ended March 2015.
Expansion project outlay was Rs 400-450 crore and large part of it about 300-350 crore will be incurred in FY2015-16 itself.
SFIS income for the quarter was at Rs 12.3 crore.
The port will connect to Dedicated Freight Corridor also as it's connected now to the IR's network for seamless cargo movement.
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