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Transport Corporation of India: Sailing with the wind

The Seaways vertical has delivered exceptional profits in Q2 and Q3 for TCI, led by additional cargo shipments to Myanmar

March 02, 2022 / 11:52 AM IST
Transport Corporation of India: Sailing with the wind

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Multimodal logistics service provider Transport Corporation of India (TCI) has delivered a solid Q3 on the back of favourable market conditions. Excellent performance from the high-margin Seaways business drove net profits in the quarter gone by. Key result highlights  Inventory re-stocking closer to the Diwali festive season and sustained trade momentum across the global markets aided TCI’s revenues in the October-December period. Moreover, operating profits came in at an all-time-high of Rs 109 crore (up 36 percent YoY), owing...

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