Summer Training Project Report

Making Operations Commercially Viable

Undertaken at

Container Corporation of India

Submitted in Partial Fulfilment of the Requirement for the Award of the

Degree of

Master of Business Administration (IB)

(2018-20)
By
Hamid Husain
18MIB015
18-03962

Under the Supervision of

Dr. P.K. Gupta

Centre for Management Studies

Jamia Millia Islamia, New Delhi – 110025
 Certificate
This is to certify that Hamid Husain has completed his Summer Training Project under
my direct supervision. He has successfully completed the Summer Training on and
from 20th May 2019 to 20th July 2019, the report of the same is submitted by him.

It is further certified that the project report submitted by Hamid Husain reflects his
original work and based on the work assigned to him for the Summer Training and that
the present project report has not been submitted elsewhere for award of ant degree,
diploma or fellowship.

Dr. P.K. Gupta

Assistant Professor
Jamia Millia Islamia

2
 Declaration
I, Hamid Husain, a bonafide student of MBA (International Business) Program at the
Centre for Management Studies, Jamia Millia Islamia, New Delhi, hereby declare that
I have undergone the Summer Training at Container Corporation of India on and
from 20th May 2019 to 20th July 2019.

I also declare that the present project report is based on the above summer training and
is my original work. The content of this project report has not been submitted to any
other university of institute either in part or in full for the award of any degree, diploma
or fellowship.

Further, I assign the right to the university, subject to the permission from the
organization concerned, use the information and contents of this project to develop
cases, caselets, case leads, and papers for publication and/or use in teaching.

Place: New Delhi Hamid Husain

Date: 18MIB015

3
 Acknowledgement
It is my privilege and pleasure to express the overwhelming sense of gratitude, devotion
and regards to my supervisor Mr. Rajeev Kaushik for his valuable suggestions, timely
guidance and words of encouragement during the project work. Without his cooperation
this project would not have been in the form, as it is today. One simply could not wish
for a better or friendlier supervisor.

I would like to thank Mr. Manish Kumar, CONCOR to teach me about the operations,
procedure, and protocol and allow me to work under his observation, advice, and
provide timely suggestion and support in the preparation of this report.

I would also like to thank Mr. Gaurav and Mr. Mahendra Routela, members of the
operations department at Container Corporation of India for providing timely
information and infrastructure for developing this report.

Hamid Husain
Jamia Millia Islamia
Date: 20/07/2019
Place: New Delhi

4
 Table of Contents
Certificate ......................................................................................................................... 2

Declaration ....................................................................................................................... 3

Acknowledgement ......................................................................................................... 4

PART A ..................................................................................................................................... 8

1. Brief Profile of Container Corporation of India ........................................................... 9

1.1. Genesis ...................................................................................................................... 9

1.2. Mission .................................................................................................................... 12

1.3. Objectives................................................................................................................ 13

1.4. Main Activities ....................................................................................................... 14

1.2.1 As a Carrier: ................................................................................................... 14

1.2.2 Internal Control Systems............................................................................... 15
1.2.2.1 Software system used: eOffice .................................................................. 16

1.2.3 As a Terminal & Warehouse Operator........................................................ 17

1.3 Market Share.......................................................................................................... 19

1.3.1 The Container Transport Market ................................................................ 19

1.3.2 Performance and Market share of CONCOR: ........................................... 20
1.3.2.1 Domestic Business ...................................................................................... 21

1.4 Strengths and USPs................................................................................................ 22

1.5 Prospects ................................................................................................................. 23

1.6 Strategy to Meet the Challenges ........................................................................... 24

1.7 Organizational Structure ...................................................................................... 25

1.8 Management Initiatives and Strategies ................................................................ 26

1.8.1 Market Strategy ............................................................................................. 26

1.8.2 Infrastructure Strategy.................................................................................. 26
1.8.3 Other Strategies ............................................................................................. 27
PART B ................................................................................................................................... 28

2. Report on the Work Experience & Task Assigned ..................................................... 29

2.1 Office Based Training ............................................................................................ 29

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 2.1.1 Assigned Task and Responsibilities .............................................................. 29
2.2 Objectives................................................................................................................ 29

2.2.1 Research Methodology .................................................................................. 29

2.2.2 Data collection ................................................................................................ 30
2.3 Findings................................................................................................................... 31

2.3.1 CONCOR Processes............................................................................................... 31

2.3.1.1 Export Process ............................................................................................ 31

2.3.1.2 Import Process ........................................................................................... 31

2.3.2 Tughlakabad ICD .................................................................................................. 32

2.3.2.1 Terminal profile of Inland Container Depot, Tughlakabad, New Delhi

32

2.3.2.2 Infrastructure ............................................................................................. 32

2.3.2.3 Equipment .................................................................................................. 33

2.3.2.4 Types of Services ........................................................................................ 33

2.3.2.5 Information Technology Services ............................................................. 35

2.3.2.6 New Initiatives ............................................................................................ 36

2.3.3 Cost Analysis .......................................................................................................... 37

2.3.3.1 Objective ..................................................................................................... 37

2.3.3.2 Components of cost .................................................................................... 37

2.3.3.3 Factors Driving variable costs .................................................................. 38

2.3.3.4 Variables Costs ........................................................................................... 38

2.3.3.4.1 Cost of railway transportation ........................................................... 38

2.3.3.4.2 Cost of roadways transportation ........................................................ 39

2.3.3.4.2.1 Time Related Costs ....................................................................... 39

2.3.3.4.2.2 Running Costs ............................................................................... 39

2.3.3.4.3 Other Operational Costs ..................................................................... 40

2.3.4 Working Capital..................................................................................................... 41

2.3.4.1 Days Sales Outstanding (DSO) ................................................................. 42

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 2.3.4.2 Days Payable Outstanding (DPO) ............................................................ 44

2.3.4.3 Days Inventory Outstanding (DIO) .......................................................... 46

2.3.4.4 Cash Conversion Cycle (CCC).................................................................. 47

2.3.4.5 Conclusion .................................................................................................. 48

2.4 Weaknesses ............................................................................................................. 49

2.5 Suggestions ............................................................................................................. 50

2.6 References ............................................................................................................... 51

7
 PART A
Brief Profile of Container
Corporation of India

8
1. Brief Profile of Container Corporation of India
1.1. Genesis

Indian Railway's strategic initiative to containerize cargo transport put India on the
multi-modal map for the first time in 1966. Given the continental distances in India
(almost 3000 km from North to South and East to West), rail transport could be the
cheaper option for all cargo over medium and long distances, especially if the cost of
inter-modal transfers could be reduced. Containerized multi-modal door-to-door
transport provided the ideal solution to this problem. It was this idea that saw the Indian
Railways entering the market for moving door-to-door domestic cargo in special DSO
containers starting in 1966.

Tughlakabad ICD, New Delhi

Though the first ISO marine container had been handled in India at Cochin as early as
1973, it was in 1981 that the first ISO container was moved inland by the Indian
Railways to India's first Inland Container Depot (ICD) at Bengaluru, also managed by
the Indian Railways.

Expansion of the network to 7 ICDs by 1988 saw increase in the handling of containers,
and along the way, a strong view had emerged that there was a need to set up a separate

9
pro-active organization for promoting and managing the growth of containerization in
India.

CONCOR started operations in November 1989 with 7 Inland Container Depots

(ICDs). It has since extended the network to a total of 83 terminals, of which 14 are
export-import container depots, 8 strategic tie-ups and 24 exclusive domestic container
depots and as many as 37 terminals perform the combined role of domestic as well as
international terminals.

10
CONCOR's customs bonded Inland Container depots are dry ports in the hinterland and
serve the purpose of bringing all port facilities including Customs clearance to the

customer's doorstep. The terminals are almost always linked by rail to the Indian
Railway network, unless their size or location dictates that they be linked by road. The
rail links enables CONCOR to facilitate the moving of large volumes over long
distances in the most cost-effective manner.

11
1.2. Mission

The mission of the Company is-

▪ To join its community partners and stake holders to make CONCOR a Company of
outstanding quality.
▪ To provide responsive, cost effective, efficient and reliable logistics solutions to its

customers through synergy with community partners and ensuring profitability and
growth.
▪ To be the first choice for our customers, the Company remains firmly committed to
its social responsibility and prove worthy of trust reposed in it.

12
1.3. Objectives

▪ To be a customer focused, performance driven, result oriented organization,

focused on providing value for money to its customers.
▪ To maximize productive utilization of resources, deliver high quality services and
to be recognized for setting the standards for excellence.
▪ To look constantly for new and better ways to provide innovative services. It will
aim for customer convenience and satisfaction, learn from its competitors and
constantly strive for excellence.
▪ To set measurable performance goals to support the objectives and mission of the
organization and work as a professional, competent a dedicated team for the
organization to achieve excellence in all areas of business and operations.
▪ To follow highest standards of business ethics and add social value for the
community at large by discharging social obligations as a responsible corporate
entity.
▪ To maintain absolute integrity, honesty, transparency and fair play in all its official
dealings and strive to maintain high standards of ethics.

13
1.4. Main Activities

CONCOR's core business is characterized by three distinct activities, that of a carrier,

a terminal operator, and a warehouse operator.

1.2.1 As a Carrier:

Rail is the mainstay of CONCOR's transportation plans & strategy. Majority of

CONCOR terminals are rail-linked, with rail as the main carrier for haulage. Facilities
are, however, provided for first and last mile transportation by road also. As rail is price-
competitive over long distances, the price advantage can be passed on to clients, thus
allowing for flexible and competitive pricing. The rail link also plays a major role in
decongesting ports and the road corridors that lead to these ports.

Though rail is the mainstay of CONCOR's transportation plan, some CONCOR

terminals are exclusively road-fed as well. Road services are mostly in the form of
supplementary services to provide the door to door linkages having carried the bulk of
long lead by rail. However, wherever it is operationally or economically a superior
option, road is used as an alternative to rail as well.

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1.2.2 Internal Control Systems

CONCOR has robust Internal Systems and processes in place for smooth and efficient
conduct of business and complies with relevant laws and regulations. It has adequate
system of internal financial controls in place, in the form of well documented delegation
of power, policies and procedures that cover critical as well as important activities of
financial and other operating functions. The procedure is in the form of manuals,

guidelines, delegation of powers and IT system and controls which are affected through
people operating in various departments within the company at different levels at each
stage of the processes. These are designed to ensure compliance to the internal financial
controls as detailed in the Companies Act, 2013.

In order to ensure that all checks and balances are in place and all internal control
systems are in order, regular and exhaustive internal audits are conducted by
experienced independent firms of Chartered Accountants in close co-ordination with
company’s own internal audit Department. The internal audits are conducted as per the
detailed well documented audit program which has been duly approved by Audit &
Ethics Committee.

15
A well-defined internal control framework has been developed identifying key controls
and independent external auditors verifies the adequacy and effectiveness of the internal
financial control system through regular periodic audit, system review, provides
assurance on the compliance of internal polices & procedures of the company and
certify the appropriateness
of internal controls.
Internal audit firms
directly report to the
Management at higher
level.

The functioning of the

internal audit as well as
internal financial control systems are periodically reviewed by the Audit & Ethics
committee and necessary directions are issued whenever required to further strengthen
the internal financial control system & procedures keeping in view the dynamic
business environment in which the company operates. Reports of the auditors are
reviewed; compliances are ensured and the reports along with the compliances are
apprised to Audit & Ethics committee periodically.

A separate certification of implementation and effectiveness of internal financial

controls during 2017-18 was done by an Independent Chartered Accountant firm and
internal financial controls on financial reporting has also been confirmed by the
Statutory Auditors in their Audit Report. Further, Audit Ethics Committee is meeting
internal and statutory Auditors of the Company both in the presence of Company
Management and separately.

1.2.2.1 Software system used: eOffice

eOffice is a Mission Mode Project (MMP) under the National e-Governance Program
of the Government. The product is developed by National Informatics Centre (NIC)
and aims to usher in more efficient, effective and transparent inter-government and
intra-government transactions and processes.

16
The product is built as single reusable system by bringing together independent
functions and systems under a single framework to enhance transparency, increase
accountability and transform the government work culture and ethics.

1.2.3 As a Terminal & Warehouse Operator

CONCOR's customs bonded Inland Container depots are dry ports in the hinterland and
serve the purpose of bringing all port facilities including Customs clearance to the
customer's doorstep. The terminals are almost always linked by rail to the Indian
Railway network, unless their size or location dictates that they be linked by road. The
rail links enables it to facilitate the moving of large volumes over long distances in the
most cost-effective manner.

CONCOR's terminals provide a spectrum of facilities in terms of warehousing,

container parking, repair facilities, and even office complexes.

As CFS operator, CONCOR adds value to the logistics chain by offering value added
services such as

▪ Transit warehousing for import and export cargo

▪ Bonded warehousing, enabling importers to store cargo and take partial
deliveries, thereby deferring duty payment
▪ Less than Container Load (LCL) consolidation, and reworking of LCL cargo at
nominated hubs

17
In the area of domestic business door pick up and door delivery services are the most
popular. The terminal network is also used to plan hub and spoke movements that allow
single customers to move cargo to multiple locations at a single time,
with CONCOR taking care of the distribution and re-distribution requirements.

The key value it offers is the provision of a single-window facility coordinating with
all the different agencies and services involved in the containerized cargo trade, from
Customs, Gateway Ports, and Railways, to road haulers, consolidators, Forwarders,
Custom House Agents and shipping lines. To achieve a high degree of customization,
the packages offered are designed to provide the most cost-effective combination of
road and rail. This enables CONCOR to offer services which can be individually
tailored to every customers specification, minimizing customers own efforts.

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1.3 Market Share

1.3.1 The Container Transport Market

Indian Railways registered a marginal growth of 4.77% in originating loading of cargo,

from 1108.79 million tonnes in 2016-17 to 1161.66 million tonnes in 2017-18.

Originating containerized cargo transported by rail has also increased from 47.60
million tonnes in 2016-17 to 54.31 million tonnes in 2017-18 reflecting an increase of
14.10%. The containers handled at all ports of the country registered a growth of
11.59% from 13.16 million TEUs in
2016-17 to 14.69 million TEUs in 2017-
18.

While Mundra Port registered a

substantial growth of 18.78%, Pipavav
Port registered a growth of 5.96% in
container handling in 2017-18 as
compared to 2016-17. Krishnapatnam Port registered a vigorous growth of 36.34% in
2017-18 over 2016-17 in container handling. The largest container handling port of the

Development of Container Traffic in India

country, JN Port also recorded a growth of 7.40%, from 4.50 million TEUs in 2016-17
to 4.83 million TEUs in 2017-18.

19
In value terms, total exports of the country went up by 9.78% from 275.85 billion
dollars in 2016-17 to 302.84 billion dollars in 2017-18. Imports of the country have
also increased by 19.59% from 384.36 billion dollars in 2016-17 to 459.67 billion
dollars in 2017-18.

CONCOR experienced a rise in export of commodities such as Buffalo Meat,

Aluminum Ingots, Cotton Yarn, Stone, Medicines, and Food Items etc. While import
of commodities such as Wastepaper, Newsprint, Auto Parts, and Machines etc.
increased, import of Heavy Melting Scrap and Aluminum Scrap experienced a
downfall.

1.3.2 Performance and Market share of CONCOR:

During 2017-18, the EXIM container traffic handled at all Indian ports increased by
11.59% as compared to 2016-17. CONCOR recorded a growth of 13.64% in EXIM
handling from 2.64 million TEUs in 2016-17 to 3.01 million TEUs in 2017-18. In terms
of tonnage, the increase in EXIM originating loading was 15.1% from 28.41 million
tonnes in 2016-17 to 32.70 million tonnes in 2017-18.

In the above-mentioned external business environment, CONCOR carried 39.97

million tons (73.6%) of containerized cargo by rail during FY 2017-18, rising from
34.70 million tons (72.9%) carried in 2016-17, thereby increasing its market share
by 70 basis points.

CONCOR achieved throughput of 3.53 million TEUs in FY 2017-18 as against 3.10

million TEUs in FY 2016-17 i.e. an increase of 13.85%.

It also continued to place great emphasis on providing total logistics solutions to its
customers by expanding the business in all segments of transport value chain, both in
EXIM and Domestic sector. Emphasis was also on optimal utilization of infrastructure
with complete cost control, combined with strategy on expansion into other segments
of value chain with overall objective of making logistics services effective, efficient
and competitive.

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In 2017-18, CONCOR had signed a Memorandum of Understanding (MOU) with M/s
Bharat Mumbai Container Terminals Ltd. (BMCT) for train services between BMCT
and CONCORs rail-transshipment hubs (RTH) at Khatuwas and Jakhwada to
consolidate container movement between north and west of India. At the same time, it
continued with its plan for setting-up of Multi-Modal Logistics Parks (MMLPs) for
providing seamless connectivity and one stop solution to its customers.

During the year, CONCOR was successful in starting rail operations at MMLPs in Naya
Raipur and Mihan (Nagpur) and commissioned a new port side facility at Paradip Port
in Odisha.

1.3.2.1 Domestic Business

The total traffic handled by CONCOR in domestic segment was 529,952 TEUs in 2017-
18 as against 460,516 TEUs in 2016-17 i.e. an increase of 15.08%. In terms of tonnage,
the increase in domestic originating loading was 15.4% from 6.29 million tonnes in
2016-17 to 7.26 million tonnes in 2017-18.

During the same period, domestic containerized loading of Indian Railways

experienced a growth of 12% from 9.79 million tonnes in 2016-17 to 10.97 million tons
in 2017-18. CONCOR’s market share in total domestic business increased from 64.25%
in 2016-17 to 66.18% in 2017-18.

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1.4 Strengths and USPs

▪ Fairly large infrastructure base of rolling stock, especially the ownership of high-
speed container flats (BLC/BLL wagons) and specialized container handling
equipment etc. The Company owns a total of over 322 rakes including 288 high
speed (BLC + BLL) and 34 BFKHN rakes as on 31.03.2018.
▪ Large network of "state-of-the-art" terminals located across the country, giving it
an unparalleled reach and penetration. Distinct cost advantage offered by CONCOR
CFSs to users by virtue of their locations within ICD premises.
▪ Over 30 years of presence in organizing efficient rail movement of containers &
highly professional terminal management and operations of ICDs, combined with
the experience of coordinating /liaising with Indian Railways, Customs and other
Central & State Government agencies.
▪ Highly committed team of experienced and skilled manpower within depth
knowledge of multi modal logistics business with a customer sensitive outlook.
Ability to provide choice of mode of transportation between rail/road/sea (coastal)
and air according to the needs of the customer.
▪ Lean and thin organization with reduced fixed costs.
▪ Strong presence in virtually all container handling ports in India having forged good
working partnerships with these ports.
▪ Providing Multilayer Stacking for storage of customers’ cargo.
▪ Has established and sustained long term relations with credible high-volume
customers in the domestic sector. Major alliances have also been established with
international shipping lines and other logistics service providers, based on mutual
trust in form of as many as 10 operating Joint Venture Companies (JVCs) including
two JVCs for Port Terminal Operations at JN Port (Mumbai) and Vallarpadam.
▪ Has a large fleet of over 20,695 (owned plus leased containers) - for domestic
traffic; The Company is in the process of purchasing 10,000 containers out of which
468 containers have already arrived in 2017-18.
▪ Customized software applications for both EXIM and Domestic segments with
internet-based customer interface & full EDI connectivity with Customers, Indian
Railways and Customs interfaces.

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1.5 Prospects

▪ With the economic scenario picking up and with Goods and Services Tax (GST)
having been implemented, the Company is determined to achieve higher growth
rates both in EXIM as well as Domestic segments.
▪ Information Technology (IT) will play a very important role in this endeavor with
the objective of providing continuous visibility of cargo. CONCOR Mobile App is
being expanded to provide various services to the Customers. Your company has
also made a progress in "Know Your Container Location" KYCL which will give
the exact location of the customers’ container.
▪ Double stack movement from the fast-growing North-Western ports especially with
the commissioning of the MMLP at Kathuwas has helped increase the rail
coefficient of container movement and attract more lightweight cargo from the road
sector. More than 200 Double Stack Train are being run per month and this will be
increased regularly.
▪ The aim of CONCOR is to tap on the enormous potential becoming available in the
coming months in areas such as Coastal Shipping, offshore as well as expanding
network in international arena for development of Dry Port, Warehousing, E-
commerce, Value Added Services, etc.
▪ With stiff competition from PCTOs, it is big challenge to retain the market share in
rail containerized transportation. CONCOR is fully prepared to meet these
challenges by taking innovative steps in marketing and meeting customers’
expectations towards reliable and cost-effective services with increased focus on
double stack operations and providing value added services to customers.
▪ CONCOR is standing at very strong fundamentals and is creating a very robust
infrastructure for handling multimodal logistics business in the country. Going
forward it is expected that the ambitious targets set in Memorandum of
Understanding signed with the Govt. of India will be met.

23
1.6 Strategy to Meet the Challenges

CONCOR has formulated a strategy for further growth with profitability, despite the
challenges of an increasingly competitive market. The broad strategy includes:

▪ Setting up of Multimodal Logistics Parks at vantage locations along the

Dedicated Freight Corridors (DFC) and at major industrial estates.
▪ Setting up of Private Freight Terminals (PFT) with road bridging solutions.
▪ Increase in Double Stack Long Haul Trains and development of Rail
Transshipment Hubs (RTH).
▪ To Make CONCOR a One Stop Logistics Solution and providing Services at
the Customers Doorstep.
▪ Providing more and more Value Addition Services such as Cross Docking,
Wrapping, Labeling, Palletization, Bar Coding, Inventory Management, KYCL,
and Mobile App, customized to the requirements of the customers.
▪ To Venture into E-Business.
▪ To make a foray in Integrated Logistics and Manufacturing Zones (ILMZ).
▪ Increase in Revenue by diversification and product differentiation.
▪ To venture internationally.
▪ Further growing in the Air Cargo Business.
▪ Providing innovative 3PL/4PL solutions to the customers.
▪ More extensive and innovative use of Information technology in various
activities especially for minimizing transaction costs, and meeting customer
expectations.
▪ CONCOR started the Extended Gate Facility at TNPM. With arrangement from
Port & Customs, the first train service from Chennai port to Extended Gate
Facility at TNPM has been started on 28.03.2018. It will help in garner greater
market share at Chennai port.
▪ To lead the changes in supply chain in the post GST (Goods and Services Tax)
scenario.

24
1.7 Organizational Structure

25
1.8 Management Initiatives and Strategies

1.8.1 Market Strategy

▪ CONCOR has planned to increase Throughput capacity from 3MN TEUs in 2016-
17 to 7 MN TEUS by 2020 to increase its Market Share.
▪ From its Market Share of 74% in India’s Rail Container freight market, CONCOR
plans to achieve a MARKET SHARE of 80% by 2020.
▪ CONCOR had an Annual Turnover of Rs 5,895 Cr. and a Net worth of Rs 8,846
Cr. in 2016-17. Further, CONCOR plans to achieve a Turnover of Rs 12,000 CR &
Net worth of Rs 10,000 CR by 2020.
▪ CONCOR is the only Navratna PSU of Indian Railways and it is one of its further
ambitious plans is to achieve MAHARATNA status by 2024 for which CONCOR
will have to achieve an Annual Turnover of Rs. 25,000 Cr. and Net worth of
Rs15,000 Cr. & PAT of Rs. 5,000 Cr.

1.8.2 Infrastructure Strategy

▪ To make CONCOR a "ONE STOP SOLUTION" & an "END TO END" service
provider.
▪ For a Transportation system its Terminal Network defines its reach and presence.
Presently, CONCOR has formidable Network of 79 Terminals (14 EXIM
Terminals, 22 Domestic Terminals, 36 Combined Terminals and 7 Strategic Tie-
ups). Its further plan is to reach a figure of 100 Terminals by 2020.
▪ CONCOR is planning Multi Modal Logistics Parks (MMLPs) at vantage locations
where industrial demand is expected to be build up along the DFC and its feeder
lines.
▪ Double Stake Operations offer opportunity for better Rake utilization and higher
sectional throughput and are beneficial to CONCOR as well as Indian Railways and
the Economy at large.
▪ CONCOR plans to increase Double Stake Operations after Increase in Double Stack
Long Haul Trains and development of Rail Transshipment Hubs (RTH). Rail
Transshipment Hubs (RTHs) will enable movement of containers from a gateway
port or a hinterland ICDs without being destination specific.

26
1.8.3 Other Strategies
▪ Providing innovative 3 PL/ 4PL solutions to the customers thereafter graduating to
a full-fledged 4PL Organization. Further, approaching the next level by broadening
the scope further to e-Business and becoming a SPL service provider.
▪ CONCOR has planned to closely coordinate with the Research, Design and
Standard Organization (ROSO) of Indian Railways for evolving modern and cost-
effective rolling stock designs for specific types of Cargo as new business
opportunities are explored.
▪ CONCOR will also closely study the freight designs being evolved for bulk
transportation of cement, aggregates, liquid cargo, auto cars etc.
▪ Dovetailing the Cold Chain and Reefer Businesses as one Business Unit.
▪ CONCOR is having PAN India Network and is exploring offshore possibilities with
a strong foothold on foreign lands.
▪ CONCOR has a detailed policy bringing out its responsibilities towards
environment. A Green Audit will be done of our various Business processes and
specific initiatives adopted to project ourselves as the premier "Green Logistics
Company in India".

27
 PART B
Report on the Work Experience
& Task Assigned

28
2. Report on the Work Experience & Task Assigned

2.1 Office Based Training

2.1.1 Assigned Task and Responsibilities

▪ Assist with research for operation strategies, including desk review of needs, cost
analysis, and editing of the strategy document;
▪ Research possible future program opportunities and new markets;
▪ Review and update communications materials;
▪ Terminal visits, observation of the terminal operations;
▪ Build documents for department processes;
▪ Participate in team and departmental meetings and initiatives;
▪ Other tasks as they arise.

2.2 Objectives

1. Analysis of CONCOR operations for improvement: detailed operations at TKD,

import & export process,
2. Calculation of operational costs incurred and their reduction possibilities.
3. A study of the CONCOR’s working capital & comparison with top competitors.
4. Finding the weak points and providing suggestions.

2.2.1 Research Methodology

The main objective of the study is to understand the operations of CONCOR and
analyse the costs incurred in relation to transportation and handling at their ports &
terminals.

The type of research done is Quantitative Research, measuring the container traffic at
various ports and terminals, identifying the cost influencing factors.

Research on working capital and comparison with competitors & international peers.

29
 2.2.2 Data collection

For every research, few assumptions will have to be made. The assumptions are made
with the respect to the organization, market and its conditions hoping that the result will
be as that of the presented objectives.

1. Data on freight for CONCOR terminals and ports for FY 2018-19,

identifying the top contributors for making further analysis (collected from
internal CONCOR sources);
2. Components of cost: operational cost, overhead costs, etc. (Internal CONCOR
sources, interviews)
3. Data on hurdles – Railways transportation constraints; technological
constraints; policies change impact on business (online and offline data sources,
interviews);
4. Working Capital Comparison (Ernst & Young).

The basic methodology adopted for achieving the objectives of the study, to begin with,
entails analysing the trends in railway freight movement, and the impact of changes in
the sectors and policies on the volumes operated by CONCOR, Working Capital and
studying the developments made by competitors. Data collected primarily for the past
2 years- FY 2017-18, 2018-19; deviation in collection period based on requirement,
availability and relevance of data.

30
2.3 Findings

2.3.1 CONCOR Processes

2.3.1.1 Export Process

1. Transferring empty container from empty stack to stuffing point at CFS,

2. Unloading export cargo from shipper’s transport and stacking it at the nominated
space in CFS;
3. Arranging Customs Examination (including unpacking/opening of packages and
closing them);
4. Test weighment of cargo (if required); stuffing of Customs cleared cargo in
container, sealing of container;
5. Transferring loaded container to stack and loading Customs sealed container on
Rail Wagon/Road Trailer for dispatch to nominated Gateway Port.

2.3.1.2 Import Process

1. Unloading loaded import container from Rail Wagon/Road Trailer; stacking it in

import stack;
2. Transporting it to CFS for seal cutting; de-stuffing of cargo at nominated place in
CFS;
3. Arranging Customs examination; and loading Customs cleared cargo in Road
Vehicles arranged by importer.

31
2.3.2 Tughlakabad ICD
2.3.2.1 Terminal profile of Inland Container Depot, Tughlakabad, New Delhi

Inland Container Depot, Tughlakabad was commissioned on 1st September 1993. It is

situated on southeast of Delhi. It is the flagship terminal of CONCOR and is pioneer in
development of containerisation in the country. ICD/TKD is India's biggest dry port.
Its hinterland comprises of all states of Northern and Western India. ICD/TKD has daily
train services to gateway ports, JNPT, GTIL, NSCT, PPSP and MDPT.

It has new state of the art equipment and facilities, coupled with an excellent rail linkage
to the gateway ports. It also touches the NH-2 and is conveniently located, having
approach to major roads in Delhi connecting all National Highways leading out of the
state.

2.3.2.2 Infrastructure

1. 4 full length rail lines

2. 10, 000 sqm covered Export warehouse
3. 6, 000 sqm covered Import warehouse
4. Two bonded warehouses of 8500 sqm
5. 3, 500 sqm dedicated for LCL export cargo
6. Open stack space for 12000 loaded TEUs and 2000 empty TEUs

32
7. Separate empty parks for stacking of 8000 empty TEUs
8. 66000 sqm parking area for parking of approx. 750+ trailers
9. 84 BLCA rakes of base depot at ICD/TKD, each of 45 High Speed wagons (1000
kmph) for carrying containers

10. Fully computerised Export & Import documentation

11. Administrative building of 8000 sqm of built up area - housing offices of CONCOR,
Customs, Bank, ATMs, Canteen, Shipping Lines, CHAs, Transporters, Surveyors
& Business Centre etc.
12. Two computerised weigh bridge

2.3.2.3 Equipment

▪ 2 rail mounted Gantry Cranes (RMG)

▪ 9 rubber tyred Gantry Cranes (RTG)
▪ 21 Reach Stackers
▪ 50 trailers for internal shifting
▪ Sling crane and forklifts for cargo handling

2.3.2.4 Types of Services

▪ Multimodal Transport Logistics and Infrastructure to support EXIM trade

33
▪ Daily services between ports (JNPT/GTIL/NSCT, MDPT, PPSP) and ICD/TKD
▪ Regular container train services to hinterland ICDs
▪ Block booking of trains on round trip basis
▪ LCL Hub Services

▪ Bonded warehousing facility

▪ Booking of containers under cabotage scheme
▪ Incentive scheme for exporters on traffic volumes
▪ RTGS/ECS for payment of CONCOR dues and all type of refunds
▪ E-filing of documents
▪ Container track and trace facility available on CONCOR
website (www.concorindia.com)
▪ Regular auction of containers (twice in a month) under section 48 of the Customs
Act.
▪ Electronic Data Interchange (EDI) facility between Customs and CONCOR
▪ Central, Regional and Local PDA (Pre-Deposit Account) facility
▪ Business Centre
▪ Exim Cell and Customer care cell for seamless services and information
▪ CISF deployed for security services
▪ Special cages / security for high value cargoes

34
▪ GOH (Garments on Hanger) fabrication facility at repairing yard

2.3.2.5 Information Technology Services

▪ Integrated Container Cargo Logistics System (CCLS) for documentation

▪ Direct enquiry terminals with major shipping lines connected
▪ Container movement (in transit) details on our website atconcorindia.com
▪ EDI Linkage between Customs and CONCOR
▪ Direct feeding of container details into CCLS through radio linked handheld
terminals to enable online access
▪ Touch screen kiosks for container enquiries at EXIM cell and CHA lobby

35
2.3.2.6 New Initiatives

ICD/TKD is a pioneer in taking innovative steps and facilities for smooth and seamless
EXIM business through CONCOR. Following innovative steps have been taken at
ICD/TKD

▪ Multi-tier stacking in bonded

warehouse
▪ Facility of e-Filing of documents
▪ ECS for payment of CONCOR dues,
refund
▪ Direct credit of payment through
RTGS in Customs PDA
▪ Centralised/Regional and Local PDA
facility
▪ Twice monthly auction
▪ Interfacing of EDI with Customs
▪ Fully air-conditioned lounge/lobby for
CHAs
▪ Touch screen kiosks for container
enquiries at EXIM cell and CHA lobby
▪ Installation of CCTV cameras at all vital points of ICD
▪ Door to Door stacking of import loaded containers in stack
▪ Streamlining of traffic flow in parking and inside the ICD
▪ Online preparation of EJO & LCL carting order
▪ Shifting of containers BOE-wise has been adopted
▪ In exports shipping bill wise loading has been started
▪ Tatkal delivery of import containers have been started

36
2.3.3 Cost Analysis
▪ Focusing on the minimization of logistics costs while maintaining the highest
possible effectiveness leads to considering logistics costs as the instrument creating
the financial result of the company, affecting the value of equity in terms of the
definitions of costs presented by the legislator.
▪ In this context, the definitions of costs constitute the basis for the identification of
categories of logistics costs, considering cost centres. However, they are not a
separate economic measure, they constitute an integral part of costs incurred by the
company which does not isolate analytical devices for their observation.
▪ Cost analysis is relevant to logistics management because resources are needed to
operate all major components of a logistics system. The components range, from
warehousing, to transport and information systems; and they involve human,
capital, and material inputs.
▪ Cost analysis can be used to understand the level of resources that are required to
operate a logistics system, with the goal of maximizing the desired performance of
the system while minimizing the cost of resources.

2.3.3.1 Objective

▪ Define fixed and variable (or running) costs related to transport systems.
▪ Calculate unit cost measurements for variable costs related to transportation.
▪ Describe factors that drive the cost of variable costs.

2.3.3.2 Components of cost

▪ In logistics cost analysis, we use two types of costs: fixed (or standing, capital) costs
versus variable (or running, operational, recurrent) costs.
▪ In this study, only the variable cost components are considered as fixed cost
components are subject to remain unaltered for longer periods, the variable cost
components considered are:
» Cost of railway transportation;
» Cost of roadway transportation;
» Cost of marking, identifying, recording, as well as transfer and handling;
» Cost of stacking/unstacking activities;

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2.3.3.3 Factors Driving variable costs
▪ Fuel costs: The cost of railway and land transport is, of course, related to the price
of fuel. As fuel prices fall, freight trains and cargo trucks become cheaper to operate
and the price of transport goes down.
▪ Vehicle capacity: Pricing depends on the volume of product being shipped by a
train or a truck, just as much as it depends on the actual, underlying costs.
▪ Government regulation: Regulation may directly impact the freight industry and
its bottom line; for example, governments often set maximum driving hours for
commercial operators. Other government regulation may also impact freight costs.

2.3.3.4 Variables Costs

2.3.3.4.1 Cost of railway transportation
▪ Rail transport costs, unlike road, are characterised by high fixed cost of rail,
locomotives and rolling stock, and buildings, but lower per unit fuel and
operating costs, as rail can carry large volumes.
▪ Moreover, these fixed (mostly infrastructure and some manpower) costs and
variable operating costs are joint costs that must be allocated between several
kinds of products and services to arrive at the total cost of each service or
product.
▪ A rake can carry up to 90TEUs of cargo, however the volume of the cargo does
not affect the cost charged by Indian Railways.

The table below shows the approximate cost of transportation of a rake

between CONCOR terminals/ports.
Distance Cost Cost per TEU Cost per TEU/km
Origin & (Km) (Rs.) (Rs.) (Rs.)
Destination
{a} {b} {c=b/90} {d=c/a}
TKD to JNPT 1497 1750000 19444.44 12.99
TKD to MDPP 1172 1450000 16111.11 13.75
DER to JNPT 1431 1500000 16666.67 11.65
TKD to SNF 1548 1750000 19444.44 12.56
TKD to WFD 2145 2000000 22222.22 10.36
Average Cost - - 18777.78 12.26

38
2.3.3.4.2 Cost of roadways transportation
▪ Vehicle operating costs have been estimated to reflect the entire spectrum of
costs borne by the vehicle owners/operators as service providers.
▪ Since these costs vary under different operating conditions such as terrain,
highway quality, commodity handled, etc., an attempt has been made to
distinguish costs structure to reflect all these operating conditions.

2.3.3.4.2.1 Time Related Costs

▪ Crew Cost: To estimate the cost on vehicle crew relating to different types of
vehicles, information collected from the sample crew (private sector only) has
been adopted, keeping in view their overall share in the road transport market.
Monthly allowances such as uniform allowance, festival allowance, dearness
allowance, if any, are also included under the crew costs.
▪ Overhead Costs: Although the goods road transport sector has preponderance
of single-vehicle operators, the overhead charges may or may not be applicable
in their case.

2.3.3.4.2.2 Running Costs

▪ Fuel Costs: Expenditure on fuel is one of the major cost elements of vehicle
operations and predominantly diesel is the main fuel used in the goods vehicles.
Although the unit price of diesel is fully controlled by the central government, cost
per unit is charged differently in different states after adding the local state taxes.
▪ Vehicle Repair & Maintenance: Vehicle Repair & Maintenance Cost (R&M):
Repair and maintenance cost is another major head of expenditure incurred by the
vehicle operator on regular basis.
▪ Estimating the cost factors stated above, the average cost of trucks/trailers were
calculated, past accounting data was also considered for precise estimation; the
costs for roadway transportation is as follows:
▪ Total cost for 40’ Container Truck:

Crew Cost + Overhead Costs + Fuel Costs + Vehicle Repair & Maintenance

39
▪ The costs above vary for different distance slabs, terrain conditions, truck brands,
climate, elevation, diesel rates etc. To reduce this error, costs were calculated with
various conditions and combining the data with accounting data the average cost
per ton/km was calculated.
▪ The average cost of a truck/trailer carrying a 40’ ISO container came out to be
Rs.2.5 per ton/km.

2.3.3.4.3 Other Operational Costs

▪ Cost of marking, recording, transfer and handling
▪ Cost of stacking/unstacking activities

40
 2.3.4 Working Capital
▪ Working capital is money available to a company for day-to-day operations. Simply
put, working capital measures a company's liquidity, efficiency, and overall health.
▪ Because it includes cash, inventory, accounts receivable, accounts payable, the
portion of debt due within one year, and other short-term accounts, a company's
working capital reflects the results of a host of company activities, including
inventory management, debt management, revenue collection, and payments to
suppliers.

The working capital of CONCOR was compared to its peers as well as other top
performing international companies,

Total Revenue Cost of Goods Sold (COGS)

Company FY 2016-17 FY 2018-19 FY 2018-19 FY 2016-17 FY 2017-18 FY 2018-19

Container Corporation of India 62,782 58,897 66,125 46,627 44,018 48,183

Adani Ports 71,087 84,394 1,13,230 21,545 25,959 37,294
Aurizon Holdings Limited 1,73,996 1,55,847 1,57,661 97,447 79,860 78,575
VTG Aktien 71,077 78,271 86,111 38,220 41,922 45,789
DP World 2,87,387 3,01,815 3,92,981 1,41,177 1,51,490 2,18,457
Figures in Million Rupees

Account Receivables (AR) Account Payables (AP)

Company FY 2016-17 FY 2017-18 FY 2018-19 FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 595 632 909 1943 2593 2759
Adani Ports 24387 26959 43755 4033 4557 4897
Aurizon Holdings Limited 17697 16043 2161 14054 13579 12546
VTG Aktien 10094 12921 15133 8575 12952 12264
DP World 27868 32143 50080 11558 12634 22563
Figures in Million Rupees

Inventory
Company FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 183 231 278
Adani Ports 2119 6571 5203
Aurizon Holdings Limited 7684 5545 5982
VTG Aktien 2323 3249 3706
DP World 5374 5762 8045

41
 2.3.4.1 Days Sales Outstanding (DSO)
▪ Days sales outstanding (DSO) is a measure of the average number of days that it
takes a company to collect payment after a sale has been made.
▪ DSO is often determined on a monthly, quarterly or annual basis, and can be
calculated by dividing the amount of accounts receivable during a given period by
the total value of credit sales during the same period, and multiplying the result by
the number of days in the period measured.
Days Sales Outstanding (DSO)
Company FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 3 4 5
Adani Ports 125 117 141
Aurizon Holding Limited 37 38 5
VTG Aktien 52 60 64
DP World 35 39 47

▪ Days Sales Outstanding (DSO) can be calculated by:

𝑨𝒄𝒄𝒐𝒖𝒏𝒕 𝑹𝒆𝒄𝒆𝒊𝒗𝒂𝒃𝒍𝒆
𝑫𝑺𝑶 = × 𝑵𝒖𝒎𝒃𝒆𝒓 𝒐𝒇 𝑫𝒂𝒚𝒔
𝑻𝒐𝒕𝒂𝒍 𝑹𝒆𝒗𝒆𝒏𝒖𝒆

DAYS SALES OUTSTANDING (DSO)

300
39 47
35
250 52 60 64
NUMBER OF DAYS

200
37 38 5
141
150 125 117

100

50
3 4 5
0
FY 2016-17 FY 2017-18 FY 2018-19

Container Corporation of India Adani Ports

Aurizon Holdings Limited VTG Aktien
DP World

DSO Graph for CONCOR & its Competitors for FYs 2016-19

42
▪ A high DSO number shows that a company is selling its product to customers on
credit and taking longer to collect money. This may lead to cash flow problems
because of the long duration between the time of a sale and the time the company
receives payment.
▪ A low DSO value means that it takes a company fewer days to collect its accounts
receivable. In effect, the ability to determine the average length of time that a
company’s outstanding balances are carried in receivables can in some cases tell a
great deal about the nature of the company’s cash flow.

43
 2.3.4.2 Days Payable Outstanding (DPO)
▪ Days payable outstanding (DPO) is a financial ratio that indicates the average time
(in days) that a company takes to pay its bills and invoices to its trade creditors,
which include suppliers, vendors or other companies.
▪ The ratio is calculated on a quarterly or on an annual basis, and it indicates how
well the company’s cash outflows are being managed.

Days Payable Outstanding (DPO)

Company FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 15 22 21
Adani Ports 68 64 48
Aurizon Holding Limited 53 62 58
VTG Aktien 82 113 98
DP World 30 30 38

𝑨𝒄𝒄𝒐𝒖𝒏𝒕 𝑷𝒂𝒚𝒂𝒃𝒍𝒆
𝑫𝑷𝑶 = × 𝑵𝒖𝒎𝒃𝒆𝒓 𝒐𝒇 𝑫𝒂𝒚𝒔
𝑪𝒐𝒔𝒕 𝒐𝒇 𝑮𝒐𝒐𝒅𝒔 𝑺𝒐𝒍𝒅

DAYS PAYABLE OUTSTANDING

350
30
300
113 38
30
NUMBER OF DAYS

250 82 98

200
62
53 58
150

68 64
100 48

50 15 22 21

0
FY 2016-17 FY 2017-18 FY 2018-19

Container Corporation of India Adani Ports

Aurizon Holdings Limited VTG Aktien
DP World

DPO Graph for CONCOR & its Competitors for FYs 2016-19

44
▪ A company with a higher value of DPO takes longer to pay its bills, which means
that it retains the available funds for a longer duration. It may allow the company
an opportunity to utilize the available cash in a better way to maximize the benefits.
However, higher values of DPO, though desirable, may not always be a positive for
the business.
▪ A high value of DPO can be beneficial if the company is running short of cash. A
high DPO also helps if the company is better off in delaying the payments than
making them on time and then loaning the money by paying interest to continue its
business operations. Companies must strike a delicate balance with DPO.
▪ Additionally, a company may need to balance its outflow tenure with that of the
inflow. Imagine if a company allows 90-day period to its customers to pay for the
goods they purchase but has only 30-day window to pay its suppliers and vendors.
This mismatch will result in the company being prone to cash crunch frequently.

45
 2.3.4.3 Days Inventory Outstanding (DIO)
▪ The Days Inventory Outstanding (DIO) is a financial ratio that indicates the average
time in days that a company takes to turn its inventory, including goods that are a
work in progress, into sales.
▪ DIO is also known as the average age of inventory, days inventory outstanding
(DIO), days in inventory (DII), days sales in inventory or days inventory and is
interpreted in multiple ways.

Days Inventory Outstanding (DIO)

Company FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 1 2 2
Adani Ports 36 92 51
Aurizon Holding Limited 29 25 28
VTG Aktien 22 28 30
DP World 14 14 13

𝑨𝒗𝒆𝒓𝒂𝒈𝒆 𝑰𝒏𝒗𝒆𝒏𝒕𝒐𝒓𝒚
𝑫𝑰𝑶 = × 𝑵𝒖𝒎𝒃𝒆𝒓 𝒐𝒇 𝑫𝒂𝒚𝒔
𝑪𝒐𝒔𝒕 𝒐𝒇 𝑮𝒐𝒐𝒅𝒔 𝑺𝒐𝒍𝒅

DAYS INVENTORY OUTSTANDING

180 14
160
28
140 13
25
NUMBER OF DAYS

120 14 30
100 92
22
28
80
29
60 51
36
40
20 1 2 2
0
FY 2016-17 FY 2017-18 FY 2018-19

Container Corporation of India Adani Ports

Aurizon Holdings Limited VTG Aktien
DP World

DIO Graph for CONCOR & its Competitors for FYs 2016-19

46
 ▪ Indicating the liquidity of the inventory, the figure represents how many days
a company’s current stock of inventory will last. Generally, a lower DSI is
preferred as it indicates a shorter duration to clear off the inventory, though the
average DSI varies from one industry to another.

2.3.4.4 Cash Conversion Cycle (CCC)

▪ The cash conversion cycle (CCC) is a metric that expresses the time (measured
in days) it takes for a company to convert its investments in inventory and other
resources into cash flows from sales.
▪ Also called the Net Operating Cycle or simply Cash Cycle, CCC attempts to
measure how long each net input dollar is tied up in the production and sales
process before it gets converted into cash received.
▪ Days Sales Outstanding (DSO) can be calculated by:
𝑪𝒂𝒔𝒉 𝑪𝒐𝒏𝒗𝒆𝒓𝒔𝒊𝒐𝒏 𝑪𝒚𝒄𝒍𝒆 (𝑪𝑪𝑪) = 𝑫𝑺𝑶 + 𝑫𝑰𝑶 − 𝑫𝑷𝑶

▪ This metric considers how much time the company needs to sell its inventory,
how much time it takes to collect receivables, and how much time it must pay
its bills without incurring penalties.

Cash Conversion Cycle

Company FY 2016-17 FY 2017-18 FY 2018-19
Container Corporation of India 0 0 0
Adani Ports 93 145 144
Aurizon Holding Limited 13 1 0
VTG Aktien 0 0 0
DP World 19 22 22

▪ CCC is one of several quantitative measures that helps evaluate the efficiency
of a company's operations and management. A trend of decreasing or steady
CCC values over multiple periods is a good sign, while rising ones should lead
to more investigation and analysis based on other factors.

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2.3.4.5 Conclusion
▪ CONCOR has an impressive DSO and DIO as compared to its peers, having a
low DSO & DIO means the company collects its receivables well ahead of its
competitors, however the case is different when the DPO is considered,
CONCOR pays its bills much earlier than its competitors, this owes to the fact
that CONCOR pays the freight charges to Indian Railways in advance.

Analysis Result

8000
7000
6000
Rupees (Million)

4,593 4593
5000
4000
3000
2000 3,108 3108
1000
0 0
0
AR AP Inv Total
Stretch Opportunity 0 4,593 0 4593
Base Opportunity 0 3,108 0 3108
Axis Title

Base Opportunity Stretch Opportunity

▪ High level outside-in analysis indicates a potential opportunity to release a

minimum of Rs.3,108M from working capital, primarily driven by
improvements to Accounts Payable.

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2.4 Weaknesses

1. Overdependence on a single rail corridor for Exim Business, 60% of the traffic
flow remain between North and West India, which is also a necessity as per our
country’s maritime strategy. Any disruption in these sectors can have serious
repercussion on business.
2. Large dependence on Railways as a transporter leaves CONCOR vulnerable to
increases in haulage charges & policy changes.
3. There is severe competition from the Road Sector specifically for short lead and
light weight cargo.
4. Gaps between quality of service and the ever-growing expectations of the
customers. At some places outsourced services are not of desired level on account
of differences in the objectives of the service providers and CONCOR.
5. The Export – Import imbalance creates difficulty in arranging return cargo leading
to empty running. Overdependence on EXIM traffic & resultant exposure to
vagaries of international business/trade trends.
6. CONCOR does not hold its cash in hand, advance and early payments have been
its regular practice which leaves a potential in the DPO.

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2.5 Suggestions

1. To overcome the overdependence on a single rail corridor for Exim Business,

CONCOR must carry out marketing efforts in small cities with trade potential to
make the most of their 83 terminals spread all over the country.
2. Vagaries of road-based logistics makes it difficult for CONCOR to directly enter
this sector – especially given its PSU status and hence leaves it dependent on other
agencies.
3. To bridge the gap between the customer expectations and the quality of service
offered, a customer feedback process should be introduced in their service
procedure.
4. Large dependence on Railways as a transporter leaves CONCOR vulnerable to
increases in haulage charges & policy changes. To overcome the same, CONCOR
must actively evaluate entry into "end-to-end" road transportation segment to
augment its basic nature of providing inter modal comprehensive integrated rail-
based services.
5. Despite continuous efforts by various export promotion councils, India still has a
trade deficit $13.4 bn, this results in empty running of rakes; CONCOR can reduce
its impact by venturing into the domestic sector by providing discounted rates on
routes where empty running is high, the discounted rates will give a competitive
advantage over road transport and will reduce the empty running of rakes.
6. High level outside-in analysis indicates a potential opportunity to release a
minimum of Rs.3,108M from working capital, primarily driven by improvements
to Accounts Payable.

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2.6 References

▪ http://www.concorindia.com/

▪ http://www.maritimegateway.com/

▪ https://www.indiastat.com/

▪ http://pib.nic.in

▪ http://containersindia.in

▪ https://www.drewry.co.uk/

▪ https://www.adaniports.com/

▪ http://gatewayresearch.in/

▪ https://www.joc.com/

▪ https://www.adaniports.com/container-services

▪ https://www.investopedia.com/terms/d/dpo.asp

▪ https://www.beehive.ae/ratio-calculations/

▪ https://www.unleashedsoftware.com/

▪ https://corporatefinanceinstitute.com/

▪ https://investinganswers.com/

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