Container Corporation of India Ltd (Concor) has posted an 8.5 per cent increase in throughput at 3.83 million twenty-foot equivalent units (TEUs) in the financial year ended March 31, 2019 against 3.53 million TEUs in the previous financial year.
The total tonnage of cargo handled had gone up 7.25 per cent at 46.25 million tonnes (43.12 million tonnes).
This was announced by its Chairman and Managing Director V Kalyana Rama. at a press conference held here on Wednesday.
Out of total tonnage. cargo by rail went up 8.4 per cent at 43.32 million tonnes, which is highest ever in the history of the corporation. There was 30 per cent increase in double stack trains from 2303 to 3000 trains in the year under review.
“As a listed company, we are doing well and will cross ₹7,000 crore turnover in the year ended March 2019 and will also be a billion-dollar company,” Kalyana Rama said, adding that complete financial details cannot be disclosed as the board of the directors are yet to meet to give the final numbers. During 2017-18, Concor recorded a turnover of ₹6,450 crore.
As per the previously announced investment plan, it plans to invest ₹6,000-8,000 crore for five years from 2018-19.
Fixed tariff
For the first time, the corporation has introduced fixed tariff for the entire financial year from April 1, this year. “We want to assure our customers that they can depend on us throughout the year without worrying for any hike in tariff in the middle of the year. This will drive our volumes further,’’ he said.
Last month, the Navaratna undertaking of Ministry of Railways had commissioned its first distribution logistics node in Chennai. “Going forward, we will have 20 distributor nodes all over India with 50 million sq.ft of warehousing space,” he said. In addition, the total number of terminals will be increased from present 83 to over 100 in next three years.
During the last fiscal, it commissioned three terminals during last year at Bodhjungnagar (Tripura), Barhi (Haryana) and Krishnapatnam (Andhra Pradesh). It now has pan-India presence with 83 terminals.
As part of diversification, Concor has also ventured into coastal shipping in January this year and plans to expand this further. “Soon, we will start inland water ways service as well,” Rama added.