Buy TCI Express, target price Rs 2300: ICICI Direct

ICICI Direct has buy call on TCI Express with a target price of Rs 2300. The current market price of TCI Express Ltd. is Rs 1960.3. Time period given by analyst is one year when TCI Express Ltd. price can reach defined target.

TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 7447.76 Crore) operating in Logistics sector.

TCI Express Ltd. key Products/Revenue Segments include Freight & Demurrage for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 288.99 Crore, up 4.78 % from last quarter Total Income of Rs 275.80 Crore and up 9.40 % from last year same quarter Total Income of Rs 264.16 Crore. Company reported net profit after tax of Rs 35.13 Crore in latest quarter.

Investment Rationale
TCI has been consistently delivering strong profitable growth (within a competitive environment), helped by its infrastructure of owned IT enabled branches (provides better execution and customer feedback loop).

Promoter/FII Holdings
Promoters held 66.7 per cent stake in the company as of 31-Dec-2021, while FIIs owned 2.12 per cent, DIIs 9.53 per cent.