- 30 May 2022
- ICICIdirect Research
TCI Express delivers highest ever quarterly revenues
TCIEXP - 1143 Change: -10.80 (-0.94 %)News: TCI Express reported its Q4FY22 results, which were in line with I-direct estimates on all fronts. While revenues grew 7% YoY to Rs 298 crore, driven by higher demand from SME segment (constitutes 52% of revenues), EBITDA margins contracted 260 bps YoY to 16.8% (high base with one-off gains). Subsequently, absolute EBITDA de-grew 8% to Rs 50 crore (base quarter had achieved highest ever EBITDA margin of 19.4%). PAT de-grew 15% YoY to Rs 36 crore
Views: The quarter was mixed in terms of demand as January saw some operating constraint due to regional restrictions, which was offset due to subsequent recovery and strong demand from SME segment. The company continues to see normalised business in April and May. New businesses contributed 15% of consolidated revenues. The company currently operates in 2 mn sq ft of sorting centre space (including Pune and Gurgaon centre)
Impact: Positive