Gujarat Pipavav Port shares jump on handling more containers Cargo

Gujarat Pipavav Port share surges on reporting 6.42% growth in container cargo handling in Q1FY24.The company handle record 199 thousand TEUs Containers Cargo in first quarter of FY24 as compared to 187 thousand TEUs Containers handled in Q1FY23. The company has also handled Dry Bulk Cargo of 0.67 million metric tons declined from 0.93 million MT, Liquid Cargo of 0.26 million increased from from 0.20 million metric tons, Ro Ro Cargo of 14,000 units and Container trains handled were 523 in Q1FY24. 

In Q4FY23, the revenue from operations rose by 6.9 per cent to Rs 234.7 crore as compared to Rs 219.6 crore in the year ago period. The EBITDA rose 1.6 per cent to Rs 130 crore and EBITDA margins increased to 55.4 per cent. The company reported a net profit of Rs 313.81 crore, growth of 59 per cent as compared with Rs 197.68 crore in FY22. Revenue for the fiscal year stood at Rs 916.95 crore as against Rs 741.36 crore a year ago. 

Gujarat Pipavav Port is engaged in providing port services such as marine services, material handling and storage operations. The company is based in South-West Gujarat and has a multinational promoter, APM Terminals – Maersk Group. It lies at a strategic international maritime location, which connects India with the Far East on one side, and the Middle East, Africa, Europe and the US on the other. 

Gujarat Pipavav Port is currently trading at Rs 122.00, up by 2.85 points or 2.39% from its previous closing of Rs 119.15 on the BSE. The scrip opened at Rs 120.85 and has touched a high and low of Rs 122.20 and Rs 120.25 respectively. So far 31796 shares were traded on the counter. 

The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 127.80 and a 52-week low of Rs 77.30. Last one week high and low of the scrip stood at Rs 123.50 and Rs 116.80 respectively. The current market cap of the company is Rs 5,839.95 crore. The promoters holding in the company stood at 44.01%, while Institutions and Non-Institutions held 44.02% and 11.97% respectively.

Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and are not recommendatory.