Concor – A robust play for the long term

Long-term prospects of Concor appear fairly bright with the impending privatisation of the business and the completion of dedicated freight corridors

Sachin Pal
September 06, 2022 / 02:49 PM IST
Concor – A robust play for the long term

(Representative Image)

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 June-quarter results of Concor, India’s largest container freight operator, turned out to be a mixed bag. The domestic business continued to exhibit strong traction, but the momentum in the EXIM (export-import) segment was hindered by a challenging macro environment. Quarterly result highlights Concor’s Q1 revenue growth of 10 percent year on year (YoY) was primarily driven by higher realisations and a favourable base. Operating profit rose 9 percent YoY to Rs 413 crore as  margins remained stable at 24 percent. (image)...