Container Corporation of India Ltd., incorporated in the year 1988, is a Large Cap company (having a market cap of Rs 39232.46 Crore) operating in Logistics sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1876.69 Crore, down -7.55 % from last quarter Total Income of Rs 2029.91 Crore and up 49.96 % from last year same quarter Total Income of Rs 1251.50 Crore. Company reported net profit after tax of Rs 251.22 Crore in latest quarter.
Investment Rationale
CCRI is a direct play on the upcoming large rail freight infrastructure (DFC). The brokerage expects a ~44% CAGR in EBITDA over FY21–23E, led by healthy volume growth and margin improvement on operating leverage benefits. The stock trades at 15.7x FY23E EV/EBITDA. It derives DCF-based TP of INR780/share based on a WACC of 11.5%.
Promoter/FII Holdings
Promoters held 54.8 per cent stake in the company as of June 30, 2021, while FIIs held 24.9 per cent, DIIs 16.3 per cent and public and other 4 per cent.
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