TCI Express Ltd. is a Mid Cap company incorporated in 2008 and has a market capitalization of Rs 7213.79 crore in the logistics sector. Ltd. Key product/revenue segments include Freight and Demurrage for the year ending 31-Mar-2022.
For the quarter ended 30-09-2022, the company posted a standalone total revenue of Rs 312.17 crore; Last quarter’s total revenue was Rs 292.37 crore, up 6.77% and 13.19% higher than last year’s total revenue of Rs 275.80 crore. The company reported a net profit after tax of Rs 37.79 crore in the last quarter.
Various growth drivers (eg volume growth, cost efficiencies and price hikes) enabled the company to record 32% EPS CAGR till FY24E. It resumes coverage on TCIE at 40x FY24E EPS, valuing the stock at Rs2,200. The main risk to the paper is: delay in land acquisition or automation of sorting centres.
Promoters hold 66.69 per cent stake in the company as on 30-Jun-2022, while FIIs hold 1.89 per cent; DII owns 8.8 percent.
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