Container Corporation of India (CONCOR) Q2 24/25 earnings summary

Executive summary

• Throughput grew 6% in H1 FY25, with Exim up 3.5% and domestic up 14.5%, aligning with India's trade trends.

• Exim market share increased by 91 bps pan-India, with significant gains at Mundra (+248 bps) and Pipavav (+285 bps) ports.

• Achieved record quarterly PAT of INR 371.05 crore in Q2, highest in company history, despite a one-time INR 25 crore expense under Vivad Se Vishwas.

• Un-audited standalone and consolidated financial results for the quarter and half year ended 30th September 2024 were approved by the Board on 29th October 2024.

• Declared interim dividend of INR 3.25/share, totaling INR 322 crore payout for H1, with a 2nd interim dividend of ₹3.25 per share (65% of face value) totaling ₹198.02 crore.

Financial highlights

• Standalone revenue from operations for Q2 FY25 was ₹2,283.03 crore, up from ₹2,190.40 crore in Q2 FY24.

• Standalone net profit for Q2 FY25 was ₹371.05 crore, compared to ₹357.70 crore in Q2 FY24.

• Operating income grew 6.58% year-over-year in H1.

• Rail freight margin improved by 80 bps YoY to 27.85%.

• EBITDA for H1: Exim INR 63.47 crore, Domestic INR 140.89 crore, Total INR 204.36 crore.

Outlook and guidance

• Maintained FY25 volume growth guidance: Exim 15%, Domestic 25%, Total 18%.

• Management confident in achieving guidance, citing strong growth drivers despite challenging Exim environment.

• Dividend payout reflects confidence in ongoing cash generation and business stability.

• Guidance is based on handling volumes.