Check out the share trend of Container Corporation Of India Ltd.
Container Corporation Of India Ltd. – Highlights
- Container Corporation Of India Ltd., was trading at Rs.634.55, up by 8.20% on the BSE.
- The stock is up by 82.55% in last one year as compared to a 65.14% surge in S&P Bse Sensex in the same period.
- The stock hit a fresh 52-week high of Rs.644.95 on the BSE in intra-day trade on the back of heavy volumes today.
- The company stated that its board has given in-principle approval for the company to explore the possibility of borrowing an amount not exceeding Rs.3500 crore from any bank(s)/corporate(s) and institution(s) towards executing long term lease agreement(s) for Railway Land (s).
- For the January-March quarter (Q4FY21), the company reported a healthy 24% year on year (YoY) increase in standalone revenues to Rs.1,939 crore, led by a 13% increase in volume (1.06 million Twenty Foot equivalent units or TeUs). However, the company reported a contraction in margins (down 2050 basis points (bps)) to 9.7 percent, owing to CONCOR’s higher payment of Land License Fee (LLF) charges (6 percent on the value of land).
- CONCOR has been paying LLF to the railways on the railway land leased to it on the basis of the number of Twenty Foot equivalent units (TEUs) handled until the fiscal year 2019-20. The Ministry of Railways, Government of India, in its order no.2015/LML-II/ 13/4 dated 19.03.2020, communicated that the LLF applicable on the Railway land leased to CONCOR will now be charged as per Railways’ existing policy, i.e. @6% of the value of land, which will be increased 7% annually.
- As a result, according to the company’s assessment, an amount of Rs.517.39 crore was paid as Land License fee to Indian Railways in the current fiscal year in accordance with Railways’ existing policy, the company stated in notes of accounts.
- Container Corporation of India Limited (CONCOR) was founded in March 1988 under the Companies Act and began operations in November 1989, taking over the Indian Railways’ existing network of 7 Inland Container Depots (ICDs). In addition to providing inland rail transport for containers, it has expanded to include port management, air cargo complexes, and cold-chain establishment. The company created multimodal logistics support for international and domestic containerization and trade in India.
- CONCOR’s core business is divided into three distinct activities: carrier, terminal operator, and warehouse operator. CONCOR is committed to providing its customers with logistics solutions that are responsive, cost effective, efficient, and reliable. It aspires to be the customer’s first choice. CONCOR is a customer-focused, performance-driven, result-oriented organization that focuses on giving its customers good value for money.
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