Q1FY22 Result Update - TCI Express - ICICI Direct

QoQ dip in margins largely due to employee bonus

- Revenues de-grew 20% QoQ to Rs. 223 crore

- EBITDA de-grew 41% QoQ to Rs. 32 crore with margins at 14.4% (vs. 19.4% in Q4) due to lower fleet utilisation and high employee expense

- Subsequently, PAT de-grew 44% to Rs. 24 crore due to weak operational performance

Key triggers for future price performance

Rising competitiveness in the sector has left TCIEL unscathed, primarily due to the company's relentless focus on building capabilities in the B2B segment by having owned branch offices, focus on MSME and SME clients, continued investments in building IT networks etc, which helps the company in having control over user experience and providing value added services to clients

- Continual cost control and bettering turnaround times via investments in IT, sorting centres and automation

- Asset light business model, with projected 25%+ RoIC in FY23

For details, click on the link below: Link to the report

Shares of TCI Express Ltd was last trading in BSE at Rs. 1532.05 as compared to the previous close of Rs. 1551.85. The total number of shares traded during the day was 6200 in over 1222 trades.

The stock hit an intraday high of Rs. 1598.4 and intraday low of 1511.55. The net turnover during the day was Rs. 9522090.

Source : Equity Bulls

Keywords