Hold Container Corporation of India, target price Rs 700: ICICI Direct

ICICI Direct has hold call on Container Corporation of India with a target price of Rs 700. The current market price of Container Corporation of India is Rs 628.1. Time period given by analyst is a year when Container Corporation of India price can reach defined target.


Container Corporation of India, incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 38324.61 Crore) operating in Logistics sector.

Container Corporation of India key Products/Revenue Segments include Freight, Other Services, Other Operating Revenue for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2110.98 Crore, up 3.94 % from last quarter Total Income of Rs 2030.94 Crore and up 5.86 % from last year same quarter Total Income of Rs 1994.18 Crore. Company has reported net profit after tax of Rs 288.30 Crore in latest quarter.

The company’s top management includes Mr.V Kalyana Rama, Mr.Sanjay Swarup, Mr.Manoj Kumar Dubey, Mrs.Chandra Rawat, Mr.Pradip K Agrawal, Mr.Chesong Bikramsing Terang, Mr.Kedarashish Bapat, Mr.Satendra Kumar. Company has S N Nanda & Co. as its auditors. As on 31-12-2022, the company has a total of 61 Crore shares outstanding.

Investment Rationale
Concor has been consistently loosing Exim market share, citing higher competitive pressure and also unable to grow longer lead distance cargo, due to Exim headwinds and also resource constraints. Domestic growth also saw deterioration in margins in Q3. While the company has launched1+1 scheme to gain market share (carry complementary empty containers), recovery in margins would be key monitorable.