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Last Updated : Feb 07, 2017 12:35 PM IST | Source:

Hold Transport Corporation; target of Rs 190: ICICI Direct

ICICI Direct recommended hold rating on Transport Corporation with a target price of Rs 190 in its research report dated February 07, 2017.

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Todays L/H

ICICI Direct's research report on Transport Corporation

Consolidated revenues remained flattish sequentially (up 15% YoY) to Rs 446.7 crore vs. our estimation of Rs 418.9 crore. Freight segment which contributes 50% of total revenues grew 10% YoY (up 1% QoQ) to Rs 223.7 crore (vs. our estimation of Rs 205.4 crore). Supply Chain and shipping revenues further contributed with YoY growth of 23% / 11% to Rs 187.6 / Rs 39.8 crore.

We roll over our estimates to FY19 and assign P/E multiple of 10x each to freight and shipping and 20x to supply chain and arrive at HOLD rating with a target price of Rs190.

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First Published on Feb 7, 2017 12:35 pm
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