Moneycontrol Be a Pro
Get App
Last Updated : Nov 12, 2018 03:43 PM IST | Source: Moneycontrol.com

Accumulate Transport Corporation of India; target of Rs 314: Dolat Capital

Dolat Capital recommended accumulate rating on Transport Corporation of India with a target price of Rs 314 in its research report dated November 05, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Dolat Capital's research report on Transport Corporation of India


For Q2FY19, the revenue grew by 19.2% YoY to ` 6,202.6mn; grew by 6.7% QoQ from ` 5815.4mn. EBITDA grew 5.8%YoY to ` 531mn, grew by 3.5% QoQ from ` 513.2mn. EBITDA margins declined by 108bps to 8.6%, decline by 26 bps QoQ from 8.8%. Net Profit grew by 1.3% YoY to ` 258.7mn; declined by 8.3% QoQ from ` 282mn due increase in interest and depreciation cost. Freight revenues were up 27.2% YoY to ` 2,931.9mn; grew 5.5% QoQ from ` 2,781.9mn driven by volumes and value growth and improved revenues from LTL business. The management expects the freight business to see moderate growth of 15-20% YoY. Maintained its guidance for revenue growth of 15-20% YoY and RoCE of +15% for FY19. The board approved interim dividend of ` 0.8/share (FV of ` 2/-).


Outlook


We are likely to see earnings CAGR growth of ~20% FY18-20E and continue to maintain our Accumulate rating with TP ` 314.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Nov 12, 2018 03:43 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour