Buy Container Corporation; target of Rs 1370: ICICI Direct

ICICI Direct's research report on Container Corporation

Revenues for Q1FY18 grew 9% YoY (down 6.5% QoQ) to Rs 1456.8 crore (I-direct estimate: Rs 1468.5 crore). Following robust export trade scenario, Exim revenue recovered (post de-growth in four consecutive quarter) to Rs 1132 crore (up 5% YoY) compared to Rs 1080 crore in Q1FY17. Domestic revenues (indicating share gain from road transport) continue to grow for a second consecutive quarter (up 32% YoY) to Rs 325 crore in Q1FY18 vs. Rs 246 crore in Q1FY17.

Outlook

We believe it would continue to command premium valuation multiple .We  maintain  our  BUY recommendation with a  target price of Rs 1370. For all recommendations report, click here

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