Transportation - Logistics firm TCI Express Announced Q1FY23 Result : TCI Express Entered into New Fiscal Year on a Strong Note Revenue of Rs. 292 Cr, up by 30.2%, EBITDA up by 32.6% and Net Profit up by 30.5% on YoY Total Income of Rs. 292 Crores, growth of 30.2% YoY EBITDA of Rs. 45 Crores, growth of 32.6% YoY EBITDA margin at 15.3% compared to 15.0% PAT of Rs. 31 Crores compared to Rs. 24 Crores, growth of 30.5% YoY PAT Margin at 10.6% remained flat Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “TCI Express recorded another quarter of strong performance with Revenue of Rs. 292 crores, a growth of 30% on year on year basis. This growth was led by continued uptick in the economic activity and pick up in Industrial production which was subdued in comparative period due to second wave of Covid-19. In addition, the demand was well supported by growth in our both Corporate and SME customers which contributes equally to the total revenues. Our EBITDA for the quarter stood at Rs. 45 crores, a growth of 32.6% YoY with margins of 15.3%. The margins were slightly lower compared to the previous quarter due to increase in employee cost as we are building team for our newly launched services. However, we expect margins to improve in the coming quarters with pick up in utilization levels. Profit after Tax stood at Rs. 31 crore, a growth of 30.5% YoY with margin of 10.6%. To further expand our presence among the SME customers, we have added 10 new branches during the quarter in the West and North region and we expect to add around 50 branches during the full fiscal year. We have also incurred a capex of Rs. 33 crores primarily towards the land purchase in Kolkata for setting up automated sorting centre. The recently launched Gurgaon sorting centre is now operational 24x7, and we expect it to reduce turnaround time and enhance operational efficiencies in the long run resulting into reduction of direct cost. In June 2022, we around 18% of the total tonnage has been have processed from Gurgaon centre which reflects the scale and capabilities of the centre. Among our newly launched services, we are seeing strong demand for Rail Express service offering and we have expanded our customer base from 250 to 1000 and presence from 10 routes to 60 routes in one year. Our dedicated team intend make significant progress during the year and meaningful contribution is expected in full fiscal. Looking ahead, we remain confident of delivering strong quarter on quarter growth in the light of upcoming festive season and remain on track to deliver annual growth target of 18-20%.” Result PDF
Conference Call with TCI Express Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Transportation and Logistics firm TCI Express declares Q4FY22 result: Highest ever annual Revenue of Rs. 1,090 Cr, and Generated Profits of Rs. 129 Cr, both registering a growth of 28% on YoY The Board of Directors recommended a dividend of Rs. 2 per share in Q4 FY22 taking total dividend of Rs. 8 per share in FY22, representing a payout of 400 % on the face value In addition, the Board, has also approved the buyback amounting ~Rs. 75 Crores through an open offer at an indicative price of Rs. 2,050 per share, subject to shareholders approval Total Income of Rs. 1,090 Crores, growth of 28% YoY EBITDA of Rs. 183 Crores compared to Rs. 142 Crores EBITDA margin at 16.8% compared to 16.7% PAT of Rs. 129 Crores compared to Rs. 101 Cores PAT Margin remain strong at 11.8% Total Income of Rs. 300 Crores, growth of 6.2% YoY and 3.9% sequentially EBITDA of Rs. 52 Crores compared to Rs. 57 Crores EBITDA margin at 17.4% compared to 20.3% PAT of Rs. 36 Crores compared to Rs. 43 Cores PAT Margin at 12.0% compared to 15.1% Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “The last quarter of the fiscal year ended on an overall positive note, economy continued to move forward on the recovery path and broad-based improvement was visible across industries. Index for Industrial Production and E-way bill generated during the quarter, prime indicators of industrial activity, showed a healthy growth on YoY basis, despite few initial challenges in the month of January 2022. In Q4, TCI Express continued to deliver strong performance and reported Revenue from Operations of Rs. 298 crores, registering a growth of 6.6% on YoY and 3.9% on a sequential basis. Some operating constraints were present in January due to regional restrictions, but these were offset with subsequent recovery and strong demand from SME customers and TCI Express has once again delivered highest revenue in the quarter. EBITDA for the quarter stood at Rs. 52 crores, registering a sequential growth of 6.2% with margins of 17.4%. Operating profitability remained strong supported by higher capacity utilization, enhanced operational efficiencies and cost pass through arrangements with vendors. Profit after Tax stood at Rs. 36 crore with margin of 12.0%." Result PDF