Price Target Changed • Jun 01
Price target decreased by 9.3% to ₹617 Down from ₹681, the current price target is an average from 11 analysts. New target price is 24% above last closing price of ₹497. Stock is down 35% over the past year. The company is forecast to post earnings per share of ₹23.48 for next year compared to ₹21.21 last year. Reported Earnings • May 28
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹21.21 (down from ₹22.37 in FY 2025). Revenue: ₹12.5b (up 3.7% from FY 2025). Net income: ₹814.3m (down 5.1% from FY 2025). Profit margin: 6.5% (down from 7.1% in FY 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.2%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. New Risk • May 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Ankündigung • May 18
TCI Express Limited to Report Q4, 2026 Results on May 27, 2026 TCI Express Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 27, 2026 Price Target Changed • Mar 15
Price target decreased by 8.3% to ₹689 Down from ₹751, the current price target is an average from 11 analysts. New target price is 43% above last closing price of ₹481. Stock is down 26% over the past year. The company is forecast to post earnings per share of ₹23.47 for next year compared to ₹22.36 last year. Declared Dividend • Feb 05
Dividend of ₹7.00 announced Shareholders will receive a dividend of ₹7.00. Ex-date: 6th February 2026 Payment date: 5th March 2026 Dividend yield will be 1.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 20% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 04
Third quarter 2026 earnings released: EPS: ₹5.74 (vs ₹5.00 in 3Q 2025) Third quarter 2026 results: EPS: ₹5.74 (up from ₹5.00 in 3Q 2025). Revenue: ₹3.14b (up 5.9% from 3Q 2025). Net income: ₹220.3m (up 15% from 3Q 2025). Profit margin: 7.0% (up from 6.5% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Ankündigung • Jan 10
TCI Express Limited to Report Q3, 2026 Results on Feb 03, 2026 TCI Express Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 03, 2026 Reported Earnings • Nov 07
Second quarter 2026 earnings released: EPS: ₹6.23 (vs ₹6.49 in 2Q 2025) Second quarter 2026 results: EPS: ₹6.23 (down from ₹6.49 in 2Q 2025). Revenue: ₹3.13b (flat on 2Q 2025). Net income: ₹239.1m (down 4.1% from 2Q 2025). Profit margin: 7.6% (down from 8.0% in 2Q 2025). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Ankündigung • Oct 24
TCI Express Limited to Report Q2, 2026 Results on Nov 06, 2025 TCI Express Limited announced that they will report Q2, 2026 results on Nov 06, 2025 Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹5.13 (vs ₹5.82 in 1Q 2025) First quarter 2026 results: EPS: ₹5.13 (down from ₹5.82 in 1Q 2025). Revenue: ₹2.91b (flat on 1Q 2025). Net income: ₹194.7m (down 13% from 1Q 2025). Profit margin: 6.7% (down from 7.6% in 1Q 2025). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Ankündigung • Jul 18
TCI Express Limited to Report Q1, 2026 Results on Jul 30, 2025 TCI Express Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Upcoming Dividend • Jul 09
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 16 July 2025. Payment date: 22 August 2025. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (1.3%). Ankündigung • Jun 26
TCI Express Limited, Annual General Meeting, Jul 23, 2025 TCI Express Limited, Annual General Meeting, Jul 23, 2025, at 10:30 Indian Standard Time. Reported Earnings • May 31
Full year 2025 earnings released: EPS: ₹22.36 (vs ₹34.35 in FY 2024) Full year 2025 results: EPS: ₹22.36 (down from ₹34.35 in FY 2024). Revenue: ₹12.2b (down 2.6% from FY 2024). Net income: ₹858.1m (down 35% from FY 2024). Profit margin: 7.0% (down from 11% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Ankündigung • May 20
TCI Express Limited to Report Q4, 2025 Results on May 30, 2025 TCI Express Limited announced that they will report Q4, 2025 results on May 30, 2025 Price Target Changed • Feb 08
Price target decreased by 9.0% to ₹979 Down from ₹1,076, the current price target is an average from 11 analysts. New target price is 30% above last closing price of ₹752. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₹24.04 for next year compared to ₹34.35 last year. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹5.00 (vs ₹8.40 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.00 (down from ₹8.40 in 3Q 2024). Revenue: ₹2.99b (down 4.1% from 3Q 2024). Net income: ₹191.9m (down 40% from 3Q 2024). Profit margin: 6.4% (down from 10% in 3Q 2024). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Ankündigung • Feb 06
TCI Express Limited Declares Second Interim Dividend for the Fiscal Year 2024-2025 The board of directors of TCI Express Limited at its meeting held on February 6, 2025, declared 2nd interim dividend for Financial Year 2024-25 at the rate of 150% (INR 3) per equity share of face value of INR 2 each to the Shareholders, whose names will appear on the Register of Members on the RECORD DATE i.e. February 12, 2025, which has been decided in due consultation with the Stock Exchanges. The payment of dividend will be completed within the statutory time limit. Ankündigung • Jan 16
TCI Express Limited Announces Resignation of Hemant Srivastava as Chief Operating Officer, Date of cessation is January 31, 2025 TCI Express Limited announced that Hemant Srivastava, Chief Operating Officer has tendered his resignation on January 16, 2025 from the services of the Company due to ongoing health issues and personal concerns. Date of cessation is January 31, 2025. Ankündigung • Dec 24
TCI Express Limited to Report Q3, 2025 Results on Jan 28, 2025 TCI Express Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Declared Dividend • Nov 01
Dividend of ₹3.00 announced Dividend of ₹3.00 is the same as last year. Ex-date: 8th November 2024 Payment date: 29th November 2024 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 22% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹6.49 (vs ₹9.27 in 2Q 2024) Second quarter 2025 results: EPS: ₹6.49 (down from ₹9.27 in 2Q 2024). Revenue: ₹3.14b (down 1.9% from 2Q 2024). Net income: ₹249.3m (down 30% from 2Q 2024). Profit margin: 7.9% (down from 11% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Ankündigung • Oct 31
TCI Express Limited Declares Interim Dividend for the Financial Year 2024-2025 TCI Express Limited at its board meeting held on October 30, 2024, declared interim dividend for the financial year 2024-2025 at the rate of 150% (INR 3) per equity share of face value of INR 2 each. The dividend shall be paid within the statutory time limit to the equity shareholders of the Company, whose names would appear on the Register of Members of the Company as on the Record date fixed that is November 08, 2024. Ankündigung • Oct 11
TCI Express Limited to Report Q2, 2025 Results on Oct 30, 2024 TCI Express Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Reported Earnings • Jul 24
Full year 2024 earnings released: EPS: ₹34.35 (vs ₹36.24 in FY 2023) Full year 2024 results: EPS: ₹34.35 (down from ₹36.24 in FY 2023). Revenue: ₹12.5b (up 1.0% from FY 2023). Net income: ₹1.32b (down 5.5% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 24
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 6th August 2024 Payment date: 12th September 2024 Dividend yield will be 0.7%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 26% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Jul 10
TCI Express Limited, Annual General Meeting, Aug 13, 2024 TCI Express Limited, Annual General Meeting, Aug 13, 2024, at 10:30 Indian Standard Time. Ankündigung • Jul 09
TCI Express Limited to Report Q1, 2025 Results on Aug 13, 2024 TCI Express Limited announced that they will report Q1, 2025 results at 12:08 PM, Indian Standard Time on Aug 13, 2024 Price Target Changed • Jun 13
Price target decreased by 7.1% to ₹1,276 Down from ₹1,373, the current price target is an average from 11 analysts. New target price is 8.9% above last closing price of ₹1,171. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹39.64 for next year compared to ₹34.36 last year. Price Target Changed • May 12
Price target decreased by 7.3% to ₹1,311 Down from ₹1,414, the current price target is an average from 11 analysts. New target price is 20% above last closing price of ₹1,096. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹40.18 for next year compared to ₹34.36 last year. Reported Earnings • May 11
Full year 2024 earnings released: EPS: ₹34.36 (vs ₹36.24 in FY 2023) Full year 2024 results: EPS: ₹34.36 (down from ₹36.24 in FY 2023). Revenue: ₹12.6b (up 1.6% from FY 2023). Net income: ₹1.32b (down 5.4% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Ankündigung • Apr 10
TCI Express Limited to Report Q4, 2024 Results on May 10, 2024 TCI Express Limited announced that they will report Q4, 2024 results at 12:08 PM, Indian Standard Time on May 10, 2024 Declared Dividend • Feb 14
Dividend of ₹3.00 announced Dividend of ₹3.00 is the same as last year. Ex-date: 20th February 2024 Payment date: 13th March 2024 Dividend yield will be 0.7%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 26% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Ankündigung • Feb 12
TCI Express Limited Declares Second Interim Dividend for the Fiscal Year 2023-2024 TCI Express Limited announced that the Board of Directors considered and declared second Interim dividend for the fiscal year 2023-2024 at the rate of 150% (INR 3/-) per Equity Share of Face value of INR 2/- each to the Shareholders. The Dividend shall be paid within the statutory time limit to the equity shareholders of the Company, whose names would appear on the Register of Members of the Company as on the Record date fixed February 20, 2024. Ankündigung • Jan 13
TCI Express Limited to Report Q3, 2024 Results on Feb 12, 2024 TCI Express Limited announced that they will report Q3, 2024 results on Feb 12, 2024 Price Target Changed • Jan 11
Price target decreased by 7.5% to ₹1,601 Down from ₹1,731, the current price target is an average from 11 analysts. New target price is 15% above last closing price of ₹1,390. Stock is down 23% over the past year. The company is forecast to post earnings per share of ₹39.96 for next year compared to ₹36.24 last year. Ankündigung • Oct 19
TCI Express Limited Announces Senior Management Personnel Appointments TCI Express Limited announced that the Board of Directors of the Company has designated Company's officials as Senior Management Personnel (SMP) of the Company with immediate effect, on the basis of recommendation received by the Nomination and Remuneration Committee. Mr. Hemant Shrivastava designated as SMP with effect from October 17, 2023. Mr. Hemant Srivastava joined TCI Group in the year 2000and has performed versatile roles for more than two decades in operations, sales, marketing and finance &accounts. He will serve the position of Chief Operating Officer-Express Business (Non-Surface) in the Company. Prior to joining the TCI group, Mr. Srivastava was working in industries like Goyal MG Gases Ltd. and handled government projects in functional department of Accounts& Audit. Mr. Girija Shankar Das designated as SMP with effect from October 17, 2023. Mr. Girija Shankar has more than a decade of versatile experience in operations, sales, marketing and customer retention. He has worked in various functions and departments including Zonal Express Manager at Chennai and Bhiwandi (Mumbai). Currently he is serving the position of Chief Marketing Officer. Mr. Piush Chachan designated as SMP with effect from October 17, 2023. Mr. Piush Chachan has almost two decades of versatile experience in operations, sales, marketing and customer relationship. He has worked in various functions and departments. Prior to joining the group TCI group, Mr. Chachan worked in Pafex and SKN Industries Ltd. Mr. Sunil Kumar Rai designated as SMP with effect from October 17, 2023. Mr. Sunil Kumar Rai has been working in the Group for about more than three decades at various senior positions at various locations in India. Mr. Anand Komar Jha designated as SMP with effect from October 17, 2023. Mr. Anand Komar Jha is an MBA with specialization in HR. He joined TCI Group in 2012 and has more than a decade of experience in TCI Group. Currently, he is serving in the position of HR (Head). Prior to joining TCI, he has worked in the HR consulting role for various industries like Energy, Power & Control Automation, Industrial Automation, Media & entertainment, Telecom, Telemetry/RTUs for Companies like Schneider Electric, GE Energy, Eaton Power, etc. Ankündigung • Oct 18
TCI Express Limited Approves Interim Dividend for the Financial Year 2023-2024 TCI Express Limited announced that the Board of Directors considered and declared Interim dividend for the financial year 2023-2024 at the rate of 150%, INR 3 per equity share of face value of INR 2 each. The dividend shall be paid within the statutory time limit to the equity shareholders of the Company, whose names would appear on the Register of Members of the Company as on the Record date fixed that is October 26, 2023. Reported Earnings • Oct 18
Second quarter 2024 earnings released: EPS: ₹9.27 (vs ₹9.82 in 2Q 2023) Second quarter 2024 results: EPS: ₹9.27 (down from ₹9.82 in 2Q 2023). Revenue: ₹3.22b (up 3.8% from 2Q 2023). Net income: ₹355.8m (down 5.8% from 2Q 2023). Profit margin: 11% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 20% per year. Ankündigung • Sep 26
TCI Express Limited to Report Q2, 2024 Results on Oct 17, 2023 TCI Express Limited announced that they will report Q2, 2024 results at 12:08 PM, Indian Standard Time on Oct 17, 2023 Ankündigung • Jul 24
TCI Express Limited to Report Q1, 2024 Results on Aug 04, 2023 TCI Express Limited announced that they will report Q1, 2024 results on Aug 04, 2023 Upcoming Dividend • Jul 21
Upcoming dividend of ₹2.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 03 September 2023. Payout ratio is a comfortable 22% and the cash payout ratio is 76%. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.9%). Reported Earnings • Jul 15
Full year 2023 earnings released: EPS: ₹36.24 (vs ₹33.49 in FY 2022) Full year 2023 results: EPS: ₹36.24 (up from ₹33.49 in FY 2022). Revenue: ₹12.4b (up 15% from FY 2022). Net income: ₹1.39b (up 8.1% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Jul 12
TCI Express Limited, Annual General Meeting, Aug 04, 2023 TCI Express Limited, Annual General Meeting, Aug 04, 2023, at 10:30 Indian Standard Time. Reported Earnings • May 27
Full year 2023 earnings released: EPS: ₹36.24 (vs ₹33.49 in FY 2022) Full year 2023 results: EPS: ₹36.24 (up from ₹33.49 in FY 2022). Revenue: ₹12.5b (up 15% from FY 2022). Net income: ₹1.39b (up 8.1% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 27
TCI Express Limited Recommends Final Dividend for the Financial Year Ended March 31, 2023 TCI Express Limited at its board meeting held on May 26, 2023, recommended a final dividend of 100% that is INR 2.00 per equity share for the financial year ended March 31, 2023, subject to the approval of the shareholders at the 15th Annual General Meeting of the Company to be held for the financial year 2022-2023. The dividend would be paid within 30 days from the date of declaration at the said upcoming Annual General Meeting. The date of Annual General Meeting Record date/book closure (as the case may be), would be intimated in due course. Price Target Changed • Mar 10
Price target decreased by 7.9% to ₹1,886 Down from ₹2,049, the current price target is an average from 8 analysts. New target price is 21% above last closing price of ₹1,554. Stock is down 15% over the past year. The company posted earnings per share of ₹33.49 last year. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,463, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 20x in the Logistics industry in India. Total returns to shareholders of 64% over the past three years. Ankündigung • Feb 01
TCI Express Limited Declares Second Interim Dividend for the Fiscal Year 2022-2023 TCI Express Limited announced that at the board meeting held on January 31, 2023 the board declared second Interim dividend for the Fiscal year 2022-2023 at the rate of 150% (INR 3.00) per Equity Share of face value of INR 2/- each to the Shareholders, whose names will appear on the Register of Members on the RECORD DATE February 08, 2023, which has been decided in due consultation with the Stock Exchanges. Reported Earnings • Feb 01
Third quarter 2023 earnings released: EPS: ₹8.32 (vs ₹9.13 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.32 (down from ₹9.13 in 3Q 2022). Revenue: ₹3.14b (up 9.6% from 3Q 2022). Net income: ₹320.2m (down 8.9% from 3Q 2022). Profit margin: 10% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year and the company’s share price has also increased by 22% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Non-Executive Independent Director Taruna Singhi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 01
TCI Express Limited Declares Interim Dividend TCI Express Limited at its board meeting held on October 31, 2022 declared Interim dividend for Fiscal Year 2022-23, 150% (INR 3) per Equity Share of Face value of INR 2 each to the Shareholders, whose names will appear on the Register of Members on the RECORD DATE i.e November 08, 2022, which has been decided in due consultation with the Stock Exchanges. The payment of dividend/dispatch of warrants will be completed within/before 30 days of declaration of Interim Dividend. Reported Earnings • Nov 01
Second quarter 2023 earnings released: EPS: ₹9.82 (vs ₹8.85 in 2Q 2022) Second quarter 2023 results: EPS: ₹9.82 (up from ₹8.85 in 2Q 2022). Revenue: ₹3.12b (up 14% from 2Q 2022). Net income: ₹377.9m (up 11% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 05
TCI Express Limited Approves Dividend for the Financial Year Ended 31 March 2022 TCI Express Limited approved dividend of INR 2.00 per ordinary Equity share of face value of INR 2.00 each, for the financial year ended 31 March 2022 at its AGM held on August 3, 2022. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improved over the past week After last week's 16% share price gain to ₹1,746, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 20x in the Logistics industry in India. Total returns to shareholders of 204% over the past three years. Upcoming Dividend • Jul 20
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 27 July 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (1.0%). Reported Earnings • Jul 14
Full year 2022 earnings released: EPS: ₹33.48 (vs ₹26.19 in FY 2021) Full year 2022 results: EPS: ₹33.48 (up from ₹26.19 in FY 2021). Revenue: ₹10.8b (up 28% from FY 2021). Net income: ₹1.29b (up 28% from FY 2021). Profit margin: 12% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 29
Full year 2022 earnings released: EPS: ₹33.48 (vs ₹26.19 in FY 2021) Full year 2022 results: EPS: ₹33.48 (up from ₹26.19 in FY 2021). Revenue: ₹10.9b (up 29% from FY 2021). Net income: ₹1.29b (up 28% from FY 2021). Profit margin: 12% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Non-Executive Independent Director Taruna Singhi was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 20
TCI Express Limited to Report Q4, 2022 Results on May 27, 2022 TCI Express Limited announced that they will report Q4, 2022 results on May 27, 2022 Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹9.13 (up from ₹8.59 in 3Q 2021). Revenue: ₹2.87b (up 9.3% from 3Q 2021). Net income: ₹351.3m (up 4.5% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 18
Price target increased to ₹1,918 Up from ₹1,750, the current price target is provided by 1 analyst. New target price is 11% below last closing price of ₹2,149. Stock is up 130% over the past year. The company posted earnings per share of ₹26.19 last year. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹2,084, the stock trades at a trailing P/E ratio of 59.9x. Average trailing P/E is 24x in the Logistics industry in India. Total returns to shareholders of 231% over the past three years. Price Target Changed • Oct 29
Price target increased to ₹1,750 Up from ₹1,609, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹1,828. Stock is up 131% over the past year. The company posted earnings per share of ₹26.19 last year. Price Target Changed • Oct 25
Price target increased to ₹1,739 Up from ₹1,609, the current price target is provided by 1 analyst. New target price is 6.0% above last closing price of ₹1,641. Stock is up 106% over the past year. The company posted earnings per share of ₹26.19 last year. Reported Earnings • Oct 25
Second quarter 2022 earnings released: EPS ₹8.85 (vs ₹6.12 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹2.73b (up 28% from 2Q 2021). Net income: ₹340.4m (up 45% from 2Q 2021). Profit margin: 12% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Aug 26
Insider recently sold ₹1.4m worth of stock On the 23rd of August, Sunil Rai sold around 1k shares on-market at roughly ₹1,404 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹3.8m. Insiders have been net sellers, collectively disposing of ₹55m more than they bought in the last 12 months. Recent Insider Transactions • Aug 18
Insider recently sold ₹1.3m worth of stock On the 13th of August, Piyush Chachan sold around 923 shares on-market at roughly ₹1,403 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.3m. Insiders have been net sellers, collectively disposing of ₹52m more than they bought in the last 12 months. Upcoming Dividend • Jul 14
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 20 July 2021. Payment date: 27 August 2021. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.4%). Reported Earnings • Jul 07
Full year 2021 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹8.44b (down 18% from FY 2020). Net income: ₹1.01b (up 13% from FY 2020). Profit margin: 12% (up from 8.6% in FY 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 08
VP & CFO recently sold ₹3.1m worth of stock On the 2nd of June, Mukti Lal sold around 2k shares on-market at roughly ₹1,538 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.3m. Mukti has been a seller over the last 12 months, reducing personal holdings by ₹7.9m. Recent Insider Transactions • May 28
Non-Executive Director recently sold ₹5.3m worth of stock On the 25th of May, Phool Sharma sold around 4k shares on-market at roughly ₹1,321 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹42m more than they bought in the last 12 months. Price Target Changed • May 22
Price target increased to ₹1,213 Up from ₹1,125, the current price target is provided by 1 analyst. New target price is 6.3% below last closing price of ₹1,295. Stock is up 145% over the past year. Reported Earnings • May 22
Full year 2021 earnings released: EPS ₹26.19 (vs ₹23.23 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: ₹8.52b (down 18% from FY 2020). Net income: ₹1.01b (up 13% from FY 2020). Profit margin: 12% (up from 8.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 20
TCI Express Limited Recommends Quarterly Dividend TCI Express Limited announced that the board of directors recommended a quarterly dividend of INR 2 per share taking the full year dividend to INR 4 per share with a payout of 200% on the face value. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 17% share price gain to ₹1,109, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 36x in the Logistics industry in India. Total returns to shareholders of 113% over the past three years. Recent Insider Transactions • Apr 04
Non-Executive Director recently sold ₹4.6m worth of stock On the 31st of March, Phool Sharma sold around 5k shares on-market at roughly ₹942 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹43m more than they bought in the last 12 months. Recent Insider Transactions • Mar 20
Non-Executive Director recently sold ₹2.6m worth of stock On the 17th of March, Phool Sharma sold around 3k shares on-market at roughly ₹930 per share. In the last 3 months, they made an even bigger sale worth ₹2.9m. Insiders have been net sellers, collectively disposing of ₹36m more than they bought in the last 12 months. Is New 90 Day High Low • Mar 10
New 90-day low: ₹870 The company is down 4.0% from its price of ₹905 on 10 December 2020. The Indian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 17% over the same period. Recent Insider Transactions • Mar 02
Non-Executive Director recently sold ₹2.9m worth of stock On the 26th of February, Phool Sharma sold around 3k shares on-market at roughly ₹926 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹29m more than they bought in the last 12 months. Recent Insider Transactions • Feb 21
Insider recently sold ₹785k worth of stock On the 12th of February, Sunil Rai sold around 800 shares on-market at roughly ₹981 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹1.3m. Insiders have been net sellers, collectively disposing of ₹27m more than they bought in the last 12 months. 
