NSE: CONCOR · BSE: 531344
CONTAINER CORP OF IND LTD
Operates a containerised rail freight logistics network across India, moving import-export (EXIM) and domestic container cargo. In FY26, total throughput reached an all-time high of 5.58 million TEUs, with EXIM volumes +8% and domestic volumes +14.6% year-on-year. The EXIM segment accounts for 66.3% of FY26 segment revenue at ₹6,008.63 crore and earns an EBIT of ₹1,429.84 crore, while the domestic segment contributes 33.7% at ₹3,050.82 crore with an EBIT of ₹149.05 crore. The business is asset-heavy: depreciation is 6.8% of revenue and FY27 capex is budgeted at ₹945 crore, going into terminals, wagons, container fleet and the upcoming Western Dedicated Freight Corridor (WDFC) link to JNPT from June 1, 2026. New streams are being added — bulk cement moved in tank containers (target 1 million tons in FY27), an LNG dispensing station at the Khodiyar ICD with GAIL (15 LNG-powered trucks to be deployed), and a 30% stake in the Bharat Container Shipping Line JV. The largest cost is other operating expenses at 72.8% of revenue, reflecting rail freight, terminal handling and lease payments to Indian Railways (such as the Land License Fee flagged by auditors). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. EXIM (import-export container rail logistics) (66%), Domestic container rail logistics (34%). Asset-heavy, container rail logistics with capex of 11.9% of revenue and depreciation of 6.8%.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7,653 | 8,169 | 8,653 | 8,887 | 9,079 |
| EBITDA (ex other income) | 1,747 | 1,866 | 1,958 | 1,896 | 1,950 |
| margin % | 22.8 | 22.8 | 22.6 | 21.3 | 21.5 |
| Owners' profit | 1,055 | 1,174 | 1,261 | 1,289 | 1,242 |
| EPS, as reported (₹) | 17.27 | 19.26 | 20.71 | 21.20 | 16.36 |
| ROE % · ROCE % | 9.7 · 12.4 | 10.4 · 13.3 | 10.6 · 13.4 | 10.3 · 13.2 | 9.5 · 12.2 |
| Debt / equity (x) | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1,369 | 1,406 | 1,389 | 1,712 | 1,482 |
| Capex | (778) | (573) | (741) | (908) | (1,083) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,288 | 2,208 | 2,288 | 2,154 | 2,355 | 2,308 | 2,263 | 2,160 |
| Profit before tax | 493 | 457 | 392 | 349 | 498 | 433 | 342 | 360 |
| Net profit | 366 | 367 | 299 | 267 | 380 | 335 | 264 | 269 |
| EPS (₹) | 6.01 | 6.03 | 4.91 | 3.51 | 4.99 | 4.40 | 3.46 | 3.53 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| EXIM | 6,014 | 66.2 |
| DOM | 3,065 | 33.8 |
| Total, before eliminations | 9,079 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CONTAINER CORP OF IND LTD ◆ | 31,836 | 25.5 | 2.44 | 13.5 | 9.5 | 11.6 | 7.2 | 24.5 |
| DELHIVERY LIMITED | 28,831 | 308.0 | 2.98 | 29.4 | 1.6 | 1.2 | — | 8.7 |
| SHADOWFAX TECHNOLOGIES L | 17,055 | 106.0 | 9.77 | 67.6 | 6.4 | 5.7 | — | 8.3 |
| BLUE DART EXPRESS LTD | 10,159 | 35.4 | 5.72 | 10.7 | 13.9 | 13.4 | 13.3 | 16.7 |
| TRANSPORT CORPN OF INDIA | 6,668 | 14.5 | 2.56 | 12.0 | 17.7 | 14.4 | 11.9 | 11.3 |
| TVS SUPPLY CHAIN SOL L | 4,919 | 76.3 | 2.39 | 6.0 | 5.7 | 4.8 | — | 7.2 |
| VRL LOGISTICS LIMITED | 4,707 | 17.6 | 4.12 | — | 20.7 | 14.5 | — | 21.9 |
| MAHINDRA LOGISTIC LIMITED | 4,257 | 115.0 | 3.55 | 10.9 | 0.9 | 2.0 | 16.5 | 6.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.5 | 15.6 | 37 of 51 | 28% |
| P/B | 2.4 | 1.6 | 29 of 40 | 28% |
| ROCE | 11.6 | 7.7 | 17 of 55 | 70% |
| ROE | 9.5 | 6.0 | 12 of 40 | 72% |
| Debt / Equity | 0.0 | 0.3 | 5 of 40 | 90% |
| EBITDA margin | 24.5 | 8.7 | 6 of 43 | 88% |
| Revenue growth | 0.3 | 9.5 | 29 of 42 | 32% |
| Profit growth | 0.6 | 22.5 | 23 of 35 | 35% |
| Market cap | 31836 | 121 | 1 of 56 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · CONCOR submits quarterly shareholder dematerialisation compliance certificate | compliance | minimal | — | — |
| 28 Oct 2026 · Share transfer agent submits quarterly compliance certificate | compliance | minimal | — | — |
| 23 Oct 2026 · Board to approve September quarter results and consider interim dividend | results | low | — | — |
| 22 Oct 2026 · CONCOR appoints Anand Saklecha as independent director | management changes | medium | — | — |
| 21 Oct 2026 · GST demand of about Rs 6.5 crore for FY 2019-20 | regulatory legal | high | — | — |
| 21 Oct 2026 · GST tax, penalty and interest demand of Rs 5.82 crore | regulatory legal | high | — | — |
| 21 Oct 2026 · CONCOR Q2 FY26 Throughput Volumes: Total Up 0.5% YoY | business updates | medium | — | — |
| 9 Oct 2026 · CONCOR extends additional charge of Director (Projects & Services) post by 3 months | management changes | medium | — | — |
| 6 Oct 2026 · Appointment of non-official director on CONCOR board | management changes | medium | — | — |
| 6 Oct 2026 · CONCOR bags Rs 87.15 Cr wagon supply order from Southern Railway | business updates | high | — | — |
How to read this document
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|---|---|---|
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.