State-run Container Corporation of India (Concor) is stepping up diversification into bulk cement, liquid chemicals, and steel cargo to boost its market share and offset muted trends in low-margin freight.
The railway PSU has placed orders for 1,000 bulk cement tank containers — 500 from government-owned Braithwaite and 500 from Ahmedabad-based Basant Fabricator — targeting India’s 70–80 million tonne loose cement market, which remains largely road-transported. Deliveries from Braithwaite began on June 30 after delays, with the second rake due this month. Basant’s supplies are expected within three months.
“We are banking heavily on this product,” Chairman and Managing Director Sanjay Swarup told investors, citing “enormous demand” potential. Only 9–10% of loose cement currently moves by rail, and Swarup expects volumes to match existing domestic throughput once both suppliers deliver.
Domestic volumes in Q1 FY26 were hit by the tanker delay and the decision to shun low-margin cargo amid growing competition from private operators. Despite this, Concor has maintained its 20% domestic growth target and 10% EXIM growth for the year. The company has been pursuing tie-ups with JK Cement, MyHome and UltraTech to drive cement cargo.
A broader diversification plan includes liquid cargo such as caustic soda and benzene, along with 1,000 new 40-foot open-top containers for steel products. Discussions are under way with corporates like Tata Group and SAIL. Traffic is expected to ramp up from mid-Q2, with a boost in Q3 once monsoon ends.
Rail freight margins rose to 27% in Q1 from 24.4%, supported by a 14% fall in empty running costs and an 11% increase in double-stack rakes. The commissioning of the Western Dedicated Freight Corridor to JNPT in December is expected to deliver a “quantum jump” in port rail traffic. Concor, with four terminals on the corridor, plans to run double-stack timetable trains from Dadri to JNPT and sees potential to lift India’s rail freight share from 18–20% to 35–40%.
Internationally, EXIM volumes grew 12% year-on-year to a record 1.29 million TEUs in Q1, with gains at JNPT offsetting losses at Mundra. Concor has signed an MoU with Dubai’s RHS Group to offer end-to-end logistics in the UAE, including ocean transport and last-mile delivery, and aims to replicate the model in Singapore and other markets.
Capex in Q1 stood at ₹202.5 crore, aligned with a full-year target of ₹860 crore. By 2028, Concor aims to operate 100 terminals, 500-plus rakes and over 70,000 containers.
