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Transport Corporation of India: Value play in an overheated market

TCI has cemented itself as the dominant player in the logistics industry over the past few years

June 22, 2021 / 10:41 AM IST
Transport Corporation of India: Value play in an overheated market

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

The recent financial results of Transport Corporation of India (TCI) — the multimodal logistics service provider — beat market expectations, with its Q4 FY21 net profit up 81 per cent year on year (YoY) and 55 per cent quarter on quarter (QoQ). The business is once again facing economic headwinds due to the second wave, but we remain optimistic on the long-term growth prospects as the recent performance is indicative of TCI’s competitive advantages and a resilient business model. Key...

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