Container Corporation of India (Concor), A PSU, it is the largest intermodal logistics provider in the country, with a network of nearly 60 inland depots. For FY09, net sales rose by a marginal 2% at Rs.3413.33 crore. EBIDTA was up 11% at Rs.1169.33% and net profit was up 9% at Rs.819.47 crore. The company had issued a 1:1 bonus and hence equity has now doubled up to Rs.129.98 crore. OPM has improved to 34.26% (31.51%) and NPM at 24.01% (22.47%).
In Q4FY09, net sales on a YoY was down 7% and net profit was down 7.5%. Margins have been more or less maintained at the same levels. In FY09, the company spent Rs.500 crore on expanding its depot network, bought new wagons and purchased handling equipments.
Exports might take a while to recover but domestic markets will improve and this would help bolster the company's financials. The company has stated that it expects to maintain a growth of around 10% which is not just about ok. Concor has around Rs.1,700 crore of cash on its books and that is a huge positive for the company.
Quoted at Rs.808, it seems too expensive right now, at least for me. Wait for a decline to buy into it. thanks
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