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Revenue
₹2,308 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹601 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Container Corporation of India reported a strong Q3 FY26 with throughput of 4.15 million TEUs (up 11% YoY), driven by 10% exim and 13% domestic growth. EBITDA margin improved ~90bps to 25.1% despite higher depreciation and land license fees. Management maintained FY26 volume guidance of 13% overall (10% exim, 20% domestic) and outlined a bullish 3-year outlook targeting ₹15,000 crore revenue and 10 million TEUs by FY29, underpinned by Western DFC connectivity to JNPT (expected by March 2026), double-stack expansion, and bulk cement via tank containers. Capex was raised 23% to ₹1,060 crore for FY26. Key risk: DFC delay could temper exim growth assumptions.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated confidence in achieving the original FY26 volume growth targets despite domestic shortfall in 9M, citing Q4 pickup from tank containers and new terminals.
- Long-term aspiration based on 15%+ exim CAGR and 20%+ domestic CAGR, driven by DFC, double-stack, bulk cement, and shipping expansion.
- Board approved increase from ₹860 crore to ₹1,060 crore, primarily for containers and rolling stock to support growth.
- Management expressed high confidence in commissioning before March 31, 2026, based on discussions with DFC officials.
Risks flagged
- If Western DFC connectivity to JNPT is delayed beyond March 2026, the projected 15%+ exim CAGR may be at risk.
- Exim market share fell from 55.28% to 53.8% YoY; domestic from 58.03% to 55.88%. Management attributes this to avoiding low-margin business, but trend may persist.
- Domestic grew only 13% vs. 20% guidance, due to delayed tank container supply and subdued demand. Q4 catch-up may be challenging.
Key quotes
- We increased our market share at JNPT by 186 basis points and at Pipavav by 93 basis points and Mundra our market share went down by 232 basis points and the good thing is that we increased the market share without sacrificing our margins.
- By FY29 I am projecting a top line of Rs 15,000 crore rupees for the company which is quite achievable and 10 million TEUs handling throughput and 75 million tons of cargo containerized cargo.
- We are not picking up the low margin business because we believe in giving good service to our customers while retaining our margins.
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