Buy Transport Corporation; target of Rs 810: Motilal Oswal

Motilal Oswal is bullish on Transport Corporation has recommended buy rating on the stock with a target price of Rs 810 in its research report dated November 22, 2022.

Broker Research

November 23, 2022 / 11:45 AM IST

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Motilal Oswal's research report on Transport Corporation

TRPC’s established presence across the multimodal Logistics value chain (Road, Rail, 3PL, and Water logistics) enables it to offer efficient end-to-end Logistics solutions, cater to a larger addressable market, and makes it the preferred choice for customers looking for complete solutions. These offerings have allowed it to sail through some challenging times. We believe TRPC is very well placed to capitalize on the growth opportunity.

Outlook

We expect revenue/EBITDA/PAT growth of 18%/13%/13% over FY22-24, factoring in an increasing share of LTL in the overall freight revenue, new client additions in 3PL, and sustained focus on coastal shipping. We maintain our Buy rating, with a TP of INR810 (17x FY24E EPS).