Buy Container Corporation of India; target of Rs 520: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Container Corporation of India

Concor reported strong numbers with reported revenues, PAT above I-direct estimates. The company did not record any exceptional income during the quarter vs. Rs 84 crore in Q4FY19. Operationally, Exim volumes de-grew 5% (realisation de-growth of 10% YoY) while domestic volumes grew ~2% (realisation remained flat). Exim revenues de-grew 14% to Rs 1131 crore while domestic revenues remained flat at Rs 438 crore. Standalone EBITDA margins grew 837 bps YoY to 30.2% while absolute EBITDA grew 24%. Due to the inclusion of SEIS income in the previous comparable quarter and an exceptional loss in the current quarter, reported PAT de-grew 16%.

Outlook

The twin catalyst is expected to keep margins healthy in the medium to long term. We maintain BUY with a target price of Rs 520.

For all recommendations report, click here

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