TCI Express Share – Company Overview:
TCI Express share is one of the best logistic shares to keep in the portfolio. Headquartered in Gurugram, Haryana, India, TCIEXPRESS is a leader in express distribution in India. The company was incorporated in the year 1996, as a part of Transport Corporation of India Limited (TCIL) and demerged to become an independent company TCI EXPRESS listed on NSE and BSE. As the name says, TCIEXPRESS focused on express cargo distribution with a higher emphasis on e-commerce business with support from advanced technology and deep domain expertise.
- The company has 650 owned centers across countries with more than 40000 pickup and delivery locations.
- TCIEXPRESS is well equipped to offer time-definite solutions to 704 out of 712 districts in India.
- The company offers a wide spectrum of services that comprises surface express, domestic and international air express, e-commerce, priority, reverse express services, C2C express, rail express, and cold chain express.
- TCI express served 202 countries with over 900 branches.
- Established itself as a priority express service provider in the e-commerce B2C deliveries market with a team of over 3500+ professionals.
- Continues to maintain strong EBITDA margins of 16.8% in FY 2022, despite a sharp jump in fuel prices.
- The National Logistic Policy will help the company to further boost its revenue from the operation.
TCI Express Share – Company Financial Overview:
The Revenue of TCI expresses has gone up by 28% to INR 1081 Crores in FY 2022 after a decline of 18% to INR 851 crores in the FY2021 from INR 1031 crores in FY2020 due to lower industrial production for a few key customer industries. However, according to the company presentation, the Net Profit recorded a growth of over 11% for the FY 2021 to INR 100.60 crores as against INR 89.08 crores in the previous year.
The net profit of the company has witnessed strong growth over the last five years to reach INR 128 Crores in FY 2022. The debt-to-equity ratio of the company is zero in FY 2022. Strong Cashflow from operation of INR 111 Crores in FY 2022. EBITDA has gone up from INR 142 Crores in FY 2021 to INR 183 Crores in FY 2022 which is a growth of 28.8% YoY. This is one of the best companies that will benefit from the new National Logistic Policy of India 2022.
TCI Express Share – Company Valuation parameters
TCI Express is a Mid-cap company with a market cap of INR 7498 crores with a face value of INR 2 per equity share. The company has been maintaining a return on capital employed (RoCE) of over 30% during the last five years from FY 2018 to FY 2022. The return on capital employed of TCIEXPRESS is 35.5% in FY 2022. The return on equity (RoE) is 26.6% in FY 2022. Earnings per share (EPS) increased around 2 times over the last five years from 15.25 in FY 2018 to 33.48 in FY 2022.
Promoters have not changed their holdings and remain the same at 66.69% over the last two quarters that ended June 2022. DII has increased its stake in the company from 8.12% in March 2022 to 8.8% in June 2022. However, FII holdings in the company slightly declined from 2% in March 2022 to 1.89% in June 2022.
The government of India has announced the National Logistic Policy intending to reduce the cost of logistics to below 10% from currently 14% of GDP. This will further boost exports while reducing the cost of the products domestically. To make India a manufacturing hub, the country needs a strong logistic sector along with other infrastructure. TCI Express is focusing on higher Capex that will further boost the EPS of the company in the next financial year.
Company Promoters and Management
TCI Express is run by strong leadership. Mr. D.P. Agarwal is the Chairman and Director of the company. Mr. Agarwal has been associated with the transport industry for more than 51 years. He is also associated with various Chambers of Commerce including CII, FICCI & PHDCCI.
Mr. Chander Agarwal is the Managing Director of the company. He is responsible for the strategic development and financial direction of the company. Under Mr. Agarwal’s leadership, TCI EXPRESS is on track to increase its delivery and pick-up locations from 40,000 to 60,000 across India.
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TCI Express Share Price Technical Analysis
The TCI Express share price is looking strong in the technical chart with strong trading volume over the last few trading days. The trading volume of the script is above 100 DMA during this period. The TCI Express share price has crossed its previous swing high at the INR 1940 level and consolidating there. Once the stock started bouncing along with support from the broader market, it will move up sharply to reach the 2300 level in the short to medium term. Eventually, it will reach its previous high of 2575 level and go beyond it to reach an all-time high.
TCI Express’s share price is trading above all its short and long-term moving averages on the daily chart. The stock is also trading above its super trend signals and is in a bullish up move. Again, the TCI Express share price has given a golden crossover on its daily chart at the 1700 level, which symbolizes buying interest in the stock. Buy at this level or on Dip.