Prabhudas Lilladher's research report on TCI Express
TCI Express (TCIEXP) Q4FY24 cons revenues de-grew 2.8% YoY to Rs.3.2bn (PLe: Rs.3.2bn), driven by total volume of 2.58 lakh tonnes which was marginally higher by 0.7% YoY. Cons EBITDA de-grew 17% Rs.0.45bn. EBITDA margins were trimmed by 245bps YoY to 14.1% due to unfavourable fleet utilization (down 150bps to 83.5%) and higher employee expenses. Consolidated PBT/PAT declined by 18.4%/17.8% to Rs.0.42bn/0.32bn but showed marginal improvement QoQ (Rs0.41bn/0.32bn).
Outlook
The stock is currently trading at 32x/23x FY24/26E earnings. We maintain Buy rating with a TP of Rs 1410 based on 29x FY26E P/E multiple.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
