Transportation - Logistics company TCI Express Limited declares Q3FY22 result: Delivered highest ever quarterly Revenue of Rs. 287 Cr, an increase of 9.3% on YoY and 4.9% on sequential basis Announced 2nd quarterly Dividend of Rs. 3 per share, taking 9 months dividend to Rs. 6 per share representing payout of 300% on the face value for 9M FY2022 Revenue from operations of Rs. 783 Crores, growth of 39% YoY EBITDA of Rs. 131 Crores compared to Rs. 85 Crores EBITDA margin at 16.5% compared to 14.9% PAT of Rs. 93 Crores compared to Rs. 58 Cores PAT Margin at 11.8% compared to 10.2% Performance Highlights: Q3 FY2022 vs. Q3 FY2021 Revenue from operations of Rs. 287 Crores, growth of 9.3% YoY and 4.9% sequentially EBITDA of Rs. 49 Crores compared to Rs. 47 Crores EBITDA margin at 17.0% compared to 17.8% PAT of Rs. 35 Crores compared to Rs. 34 Cores PAT Margin at 12.2% compared to 12.7% Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “Q3 FY2022 was a mixed quarter, we continued to see quicker recovery across industries with the businesses started reaching near pre-covid levels and the economic activities began to normalize. In October, the demand picked up during the festive season and the Index for Industrial Production registered strong month-on-month growth coupled with the higher E-way bill generation. However, in November, the e-way bills declined to five months low as demand moderated after the festivities, but recovery was again visible in the month of December. During the quarter, the Company delivered highest ever quarterly Revenue from Operations of Rs. 287 crore, registering a growth of 9.3% on Y-o-Y and 4.9% on a sequential basis. EBITDA for the quarter stood at Rs. 49.3 crore, registering a sequential growth of 4.8% with margin of 17%. Margins remained stable backed by higher capacity utilization and operational efficiencies. Our Profit after Tax stood at 35 crore with margin of 12.2%. On a nine-month basis, TCI Express delivered Revenue from Operations of Rs. 783 crore, growth of 39%, EBITDA of Rs. 131 crore, growth of 55% and Profit after Tax of 93 crores, growth of 60% on year-on-year basis. In the light of strong performance during the first nine months of the year, the Board of Directors has recommended a 2nd interim dividend of Rs 3 per share for the quarter, taking total dividend to Rs. 6 per share for the 9M FY22, representing a payout of 300% on the face value and 24.8% on the EPS. The construction of Gurgaon sorting centre is going as per plan and is expected to be fully operational in February 2022. I would like to highlight that we will be the first B2B express delivery company in India to install Conveyor Belt system for heavy cargo at our Gurgaon sorting centre. This will help in reducing truck halting time by around 40%, which will improve overall operational efficiency. During the quarter, we have also added 5 new branches mainly in the South and North region to penetrate deeper in the key growing markets. Our recently announced new offerings TCI Express Limited TCI House 69, Institutional Area, Sector - 32 Gurugram - 122001, Haryana, India Press Release January 28, 2022 are getting good traction among the customers, especially Rail Express where we continue to see new customer acquisitions. Looking ahead, we expect there will be a temporary impact of the Omicron variant on the logistics industry and quicker recovery is anticipated in the coming months. TCI Express is well positioned to meet the growing demand and ensure higher operational efficiencies to maintain its profitability margins and close a year on a strong note.” Result PDF
Delivered strong performance in Q2 FY2022 with Revenue up by 28.6% and EBITDA up by 40.0% on y-o-y basis Announced Interim Dividend of Rs. 3 per share and payout of 150% on the face value Highlights Revenue from operations of Rs. 496 Crores, growth of 64.5% y-o-y EBITDA of Rs. 81 Crores compared to Rs. 38 Crores in H1 FY2021 EBITDA margin at 16.3% compared to 12.3% in H1 FY2021 PAT of Rs. 58 Crores compared to Rs. 24 Cores in H1 FY2021 PAT Margin at 11.6% compared to 8.0% in H1 FY2021 Revenue from operations of Rs. 273 Crores, growth of 28.4% y-o-y and 22.7% sequentially EBITDA of Rs. 48 Crores compared to Rs. 34 Crores in Q2 FY2021 EBITDA margin at 17.3% compared to 15.9% in Q2 FY2021 PAT of Rs. 34 Crores compared to Rs. 24 Cores in Q2 FY2021 PAT Margin at 12.3% compared to 11.0% in Q2 FY2021 Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “Q2 FY2022 started on a strong note with robust pick-up in the economic and business activities after a subdue first quarter due to the impact of second wave of Covid-19. Strong recovery in demand and supply was visible with the onset of festive season. The Index for Industrial Production registered a month-on-month growth and similarly the Eway bill generation also registered a growth of 41% Q-o-Q and 19% Y-o-Y. Our growth for the quarter was propelled by strong recovery in business activities of our key customer industries and SME’s. During the quarter, the Company delivered Revenue from Operations of Rs. 273 crore, registering a growth of of 28.4% on Y-o-Y and 22.7% on sequential basis. EBITDA for the quarter stood at Rs. 48 crore posting a sequential growth of 41.2% and margins improving to 17.3% compared to 15.0% in Q1 FY22 and 15.9% Q2 FY21. Improvement in margins was driven by higher capacity utilization and operational efficiencies. I am particularly pleased that we have surpassed the EBITDA margins of 16.7% delivered in the full year FY21. Our Profit after Tax stood at 34 crore with margin of 12.3% compared to margin of 11.0% in Q2 FY21. In the light of strong performance during the first half of the year, the Board of Directors has recommended a interim dividend of Rs 3 per share, with a payout of 150% on the face value. Our Pune sorting centre is already fully operational since June 2021 and is helping us in improving the turnaround time in the region. Overall, in last six months we have incurred a capex of Rs. 46 crores primarily towards construction and automation at these centres. During the quarter, we have added 15 new branches mainly in the South and West region to capture market opportunities presented by growing demand from the SME customers. We continue to maintain our strong capital structure with a robust balance sheet, and this has been reflected in our cash and investments position which has increased to Rs. 100 crore at the end of September 2021. Result PDF