Navratna company declares 60% dividend, Q2 PAT jumps 20% YoY

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With a market valuation of 46,781.62 crore, Container Corporation of India Ltd. is a large-cap company that engages in the logistics industry. The three unique operations of a carrier, a terminal operator, and a warehouse operator make up the company’s main business. As a Navratna CPSE, Container Corporation of India provides multifunctional logistics for domestic and international containerization and commerce in India. The company has released its Q2 earnings along with a 60% interim dividend.

The company has said in a stock exchange filing that “The Board has declared 2nd Interim Dividend for FY 2022-23 of 60% i.e. Rs.3.00 per equity share of face value of Rs.5/- each amounting to Rs.182.79 crores. The record date for the purpose of payment of Interim Dividend has been fixed as 23.11.2022. The Interim dividend will be paid/ dispatched to the shareholders on or after 30.11.2022. The payment of dividend will be made within 30 days of its declaration.”

On a consolidated basis, the company declared a net profit of 303.80 crore for the quarter ended September 30, 2022 compared to 253.21 crore Cr in the year-ago quarter, representing a YoY growth of 19.97%, the company had posted a net profit of 296.83 Cr in the quarter ended June 2022, representing a QoQ growth of 2.34%. On a consolidated basis, the company declared net sales of 1,986.34 Cr in Q2FY23 compared to 1,837.20 Cr in Q2FY22 and 1,993.99 Cr posted in Q1FY23, representing a YoY growth of 8.11% and a QoQ fall of 0.38%. On a consolidated basis, the company declared a total income of 2,030.94 Cr in Q2FY23, compared to 1,900.28 Cr in Q2FY22 and 2,062.50 Cr posted in Q1FY23, representing a YoY growth of 6.87% and a QoQ fall of 1.53%. The company declared an EPS of 4.99 per share in Q2FY23, compared to 4.87 in Q1FY23 and 4.16 in Q2FY22.

The shares of Container Corporation of India closed on Friday at 770.00 apiece, down by 4.15% from the previous close of 803.30. During its last trading session, the stock recorded a total volume of 3,161,024 shares compared to the 20-Day average volume of 2,117,999 shares. In the last 1 year, the stock has gained 13.12% and on a YTD basis, the stock has gained 24.23% so far in 2022. For the quarter ended September or Q2FY23, the company reported a promoter stake of 54.80%, FIIs stake of 24.06%, DIIs stake of 17.85%, Govt stake of 0.12% and a public stake of 3.18%.

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