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.
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).