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Concor – Solid Q4, but macro concerns linger

Concor’s business has a high correlation with the global economy and the decline in Q4 EXIM volumes is a clear reflection of weakening trade links globally

May 24, 2022 / 10:06 AM IST
Concor – Solid Q4, but macro concerns linger

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The March-quarter results of Concor, India’s largest container freight operator, were on expected lines. The top line was largely stable but the margins came in a bit soft on account of higher employee cost and LLF (land licence fees) provisions. Quarterly result highlights Concor’s Q4 revenue growth of 5 percent year on year (YoY) was primarily driven by higher realisations as overall volumes were largely flat YoY. Operating profits more than doubled to Rs 413 crore owing to a favourable base...

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