Buy TCI Express, target price Rs 945: ICICI Direct

ICICI Direct has given a buy rating to TCI Express with a target price of Rs 945. The share price moved up by 1.07 per cent from its previous close of Rs 812.50. The stock’s last traded price is Rs 821.20.

TCI Express Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 3116.38 Crore) operating in Logistics sector.

TCI Express Ltd. key Products/Revenue Segments include Freight & Demurrage which contributed Rs 1031.96 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2020.


Financials
For the quarter ended 30-06-2020, the company reported a Standalone sales of Rs 88.74 Crore, down 62.70 % from last quarter Sales of Rs 237.94 Crore and down 65.36 % from last year same quarter Sales of Rs 256.17 Crore. The Company reported net profit after tax of Rs .92 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 66.9 per cent stake in the company as of June 30, 2020, while FIIs held 5 per cent, DIIs 5.5 per cent and public and others 22.6 per cent.