Sharekhan's research report on TCI Express
Earnings slightly missed the mark in Q2FY2024 although a sequential recovery in revenue growth and OPMs in a muted demand environment is well taken. It has undertaken a 1.5% price hike during Q2FY2024 till date. Company retained FY2024 guidance expecting strong H2FY2024. It retained a Rs. 1,750 crore revenue target for FY2025 although Rs. 2000 crore in revenues cannot be ruled out. It is looking at M&A deals. Automation at Pune on track by March 2024. Target 25-30 new branch additions in H2. Capex for FY2024 and FY2025 at Rs. 80 crore and Rs. 100 crore, remain unchanged.
Outlook
We retain a Buy on TCI with an unchanged price target (PT) of Rs. 1,900, factoring marginal downward revision in estimates while rolling forward our valuation multiple to September 2025 earnings.
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.
