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Results
20-May-23
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Analysis
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Container Corporation Of India
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Sales up 6%, net up 8%
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Consolidated net sales
(including other operating income) of Container Corporation Of India for the
quarter ended Mar 2023 has increased 6.16% to Rs 2184.33 crore.
Operating profit margin
has jumped from 20.29% to 20.65%, leading to 8.07% rise in operating profit to
Rs 451.08 crore. Employee cost decreased from 5.88% to 5.73%.
Other expenses fell from 73.83% to 73.62%. Freight
charges rose from 54.13% to 55.55%. Other direct service cost fell
from 15.76% to 13.03%. Other income rose 35.02% to Rs 93.77
crore. PBIDT rose 11.92% to Rs 544.85 crore. Provision
for interest rose 7.60% to Rs 16.7 crore. PBDT rose 12.06% to Rs
528.15 crore. Provision for depreciation rose 13.31% to Rs 157.54
crore. Profit before tax grew 11.54% to Rs 370.61
crore. Share of profit/loss was 11.89% lower at Rs 5.26
crore. Provision for tax was expense of Rs 96.47 crore, compared to
Rs 79.77 crore. Effective tax rate was 25.67% compared to 23.58%. Net
profit attributable to owners of the company increased 7.85% to Rs 279.12
crore.
Exim sales was down 3%
to Rs 1323.94 crore hit largely by lower realiasation with EXIM volume up 2% to
851261 TEUs. But the PBIT of EXim was higher by 6% to Rs 317.55 crore. Revenue of Domestic was up 23% to Rs 842.05
crore but segment profit of it was up 138% to Rs 75.19 crore gained by higher
volume and higher realization.
Full year results
analysis.
Net sales (including other operating income) of Container Corporation Of India
has increased 6.75% to Rs 8169.12 crore. Operating profit margin has
declined from 22.85% to 22.84%, leading to 6.67% rise in operating profit to Rs
1,865.55 crore. Employee cost decreased from 5.46% to 5.27%.
Other expenses rose from 71.69% to 71.89%. Freight
charges rose from 53.65% to 55.14%. Other direct service cost fell
from 14.98% to 13.37%.
Other income rose 27.64%
to Rs 313.4 crore. PBIDT rose 9.26% to Rs 2178.95
crore. Provision for interest rose 2.44% to Rs 63.89 crore. Loan
funds rose to Rs 778.14 crore as of 31 March 2023 from Rs 735.02 crore as of 31
March 2022. Inventories rose to Rs 37.18 crore as of 31 March 2023
from Rs 30.68 crore as f 31 March 2022. Sundry debtors were higher
at Rs 216.00 crore as of 31 March 2023 compared to Rs 181.72 crore as of 31
March 2022. Cash and bank balance rose to Rs 3,102.12 crore as of 31
March 2023 from Rs 2,918.38 crore as of 31 March 2022. Investments
rose to Rs 1,213.26 crore as of 31 March 2023 from Rs 1,206.54 crore as of 31
March 2022 .
PBDT rose 9.48% to Rs
2115.06 crore. Provision for depreciation rose 2.06% to Rs 573.01
crore. Fixed assets declined from Rs 6,460.93 crore as of 31 March
2022 to Rs 6,439.65 crore as of 31 March 2023. Intangible assets increased
from Rs 17.22 crore to Rs 17.78 crore.
Profit before tax grew
12.51% to Rs 1,542.05 crore. Share of profit/loss was 15.94% lower
at Rs 21.14 crore. Provision for tax was expense of Rs 389.72 crore,
compared to Rs 342.2 crore. Effective tax rate was 24.93% compared
to 24.52%.
Others
Minority interest
increased 85.96% to Rs -0.40 crore. Net profit attributable to
owners of the company increased 11.12% to Rs 1,173.87 crore.
Equity capital stood at
Rs 304.65 crore as of 31 March 2023 to Rs 304.65 crore as of 31 March
2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was
54.80% as of 31 March 2023 ,compared to 54.80% as of 31 March 2022
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Cash flow from operating
activities increased to Rs 1,405.83 crore for year ended March 2023 from Rs
1,369.96 crore for year ended March 2022. Cash flow used in
acquiring fixed assets during the year ended March 2023 stood at Rs 575.66
crore, compared to Rs 787.36 crore during the year ended March
2022.
| Container Corporation Of India : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,184.33 | 2,057.56 | 6.16 | 8,169.12 | 7,652.73 | 6.75 | | OPM (%) | 20.65 | 20.29 | 37 bps | 22.84 | 22.85 | -2 bps | | OP | 451.08 | 417.39 | 8.07 | 1,865.55 | 1,748.83 | 6.67 | | Other Inc. | 93.77 | 69.45 | 35.02 | 313.40 | 245.53 | 27.64 | | PBIDT | 544.85 | 486.84 | 11.92 | 2,178.95 | 1,994.36 | 9.26 | | Interest | 16.70 | 15.52 | 7.60 | 63.89 | 62.37 | 2.44 | | PBDT | 528.15 | 471.32 | 12.06 | 2,115.06 | 1,931.99 | 9.48 | | Depreciation | 157.54 | 139.04 | 13.31 | 573.01 | 561.42 | 2.06 | | PBT | 370.61 | 332.28 | 11.54 | 1542.05 | 1370.57 | 12.51 | | Share of Profit/(Loss) from Associates | 5.26 | 5.97 | -11.89 | 21.14 | 25.15 | -15.94 | | PBT before EO | 375.87 | 338.25 | 11.12 | 1563.19 | 1395.72 | 12.00 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 375.87 | 338.25 | 11.12 | 1563.19 | 1395.72 | 12.00 | | Taxation | 96.47 | 79.77 | 20.94 | 389.72 | 342.2 | 13.89 | | PAT | 279.4 | 258.48 | 8.09 | 1173.47 | 1053.52 | 11.39 | | Minority Interest (MI) | 0.28 | -0.33 | PL | -0.4 | -2.85 | 85.96 | | Net profit | 279.12 | 258.81 | 7.85 | 1173.87 | 1056.37 | 11.12 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 279.12 | 258.81 | 7.85 | 1173.87 | 1056.37 | 11.12 | | EPS (Rs)* | 4.58 | 4.25 | 7.85 | 19.27 | 17.34 | 11.12 | | | * 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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