ThinkStock PhotosICICI Securities has buy call on TCI Express with a target price of Rs 2200. The current market price of TCI Express Ltd. is Rs 1882.35.
TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 7213.79 Crore) operating in Logistics sector.
TCI Express Ltd. key Products/Revenue Segments include Freight & Demurrage for the year ending 31-Mar-2022.
For the quarter ended 30-09-2022, the company reported a Standalone Total Income of Rs 312.17 Crore, up 6.77 % from last quarter Total Income of Rs 292.37 Crore and up 13.19 % from last year same quarter Total Income of Rs 275.80 Crore. Company reported net profit after tax of Rs 37.79 Crore in latest quarter.
Investment Rationale
The various growth drivers (such as volume growth, cost efficiencies and price hikes) are in place, enabling the company to record an EPS CAGR of 32% through to FY24E. It reinitiates coverage on TCIE, valuing the stock at Rs2,200 on 40x FY24E EPS. Key risk to thesis is: delay in land acquisition or automation of sorting centres.
Promoter/FII Holdings
Promoters held 66.69 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.89 per cent, DIIs 8.8 per cent.
TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 7213.79 Crore) operating in Logistics sector.
TCI Express Ltd. key Products/Revenue Segments include Freight & Demurrage for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Standalone Total Income of Rs 312.17 Crore, up 6.77 % from last quarter Total Income of Rs 292.37 Crore and up 13.19 % from last year same quarter Total Income of Rs 275.80 Crore. Company reported net profit after tax of Rs 37.79 Crore in latest quarter.
Investment Rationale
The various growth drivers (such as volume growth, cost efficiencies and price hikes) are in place, enabling the company to record an EPS CAGR of 32% through to FY24E. It reinitiates coverage on TCIE, valuing the stock at Rs2,200 on 40x FY24E EPS. Key risk to thesis is: delay in land acquisition or automation of sorting centres.
Promoter/FII Holdings
Promoters held 66.69 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.89 per cent, DIIs 8.8 per cent.
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Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
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