Sharekhan's research report on Transport Corporation of India
Consolidated revenue stood at Rs.1,139.3 crore, while operating profit stood at Rs. 121 crore, rising 9% y-o-y and 16.6% y-o-y, respectively, driven by steady growth across multimodal, warehousing, 3PL and cold chain verticals. Management maintains guidance of a 10-12% growth in topline and bottomline for FY26. SCM business to grow 10-15%, while a 0.5-5% growth is eyed in seaways division. Company would be incurring Rs.400-450 crore capex in FY26 expanding infrastructure, including ships, trucks, and warehouses.
Outlook
We retain a Buy rating with a PT of Rs. 1,350, considering its healthy earnings growth trajectory over the next 2-3 years.
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