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TCI Express

NSEI:TCIEXP
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TCIEXP
NSEI
₹26B
Market Cap
  1. Home
  2. IN
  3. Transportation
Company description

TCI Express Limited provides express delivery solutions in India and internationally. The last earnings update was 70 days ago. More info.


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TCIEXP Share Price and Events
7 Day Returns
-6.7%
NSEI:TCIEXP
-1.3%
IN Logistics
0.8%
IN Market
1 Year Returns
28.8%
NSEI:TCIEXP
-12.3%
IN Logistics
-0.7%
IN Market
TCIEXP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TCI Express (TCIEXP) -6.7% -10.8% 3.5% 28.8% - -
IN Logistics -1.3% -2.3% 0.5% -12.3% -35.5% 18%
IN Market 0.8% 2.8% 5.9% -0.7% 41.2% 72.5%
1 Year Return vs Industry and Market
  • TCIEXP outperformed the Logistics industry which returned -12.3% over the past year.
  • TCIEXP outperformed the Market in India which returned -0.7% over the past year.
Price Volatility
TCIEXP
Industry
5yr Volatility vs Market

Value

 Is TCI Express undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TCI Express to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TCI Express.

NSEI:TCIEXP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:TCIEXP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Logistics Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.037 (1 + (1- 35%) (1.59%))
1.032
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.032 * 8.6%)
16.43%

Discounted Cash Flow Calculation for NSEI:TCIEXP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TCI Express is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:TCIEXP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 16.43%)
2019 -116.50 Analyst x2 -100.06
2020 104.00 Analyst x3 76.73
2021 330.00 Analyst x2 209.11
2022 472.48 Est @ 43.18% 257.16
2023 625.99 Est @ 32.49% 292.64
2024 782.53 Est @ 25.01% 314.21
2025 937.24 Est @ 19.77% 323.24
2026 1,088.17 Est @ 16.1% 322.34
2027 1,235.49 Est @ 13.54% 314.35
2028 1,380.56 Est @ 11.74% 301.70
Present value of next 10 years cash flows ₹2,311.40
NSEI:TCIEXP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹1,380.56 × (1 + 7.55%) ÷ (16.43% – 7.55%)
₹16,729.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹16,729.35 ÷ (1 + 16.43%)10
₹3,655.98
NSEI:TCIEXP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹2,311.40 + ₹3,655.98
₹5,967.38
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹5,967.38 / 38.31
₹155.76
NSEI:TCIEXP Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹155.76
Current discount Discount to share price of ₹652.30
= -1 x (₹652.30 - ₹155.76) / ₹155.76
-318.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of TCI Express is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TCI Express's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TCI Express's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:TCIEXP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹17.99
NSEI:TCIEXP Share Price ** NSEI (2019-04-22) in INR ₹652.3
India Logistics Industry PE Ratio Median Figure of 19 Publicly-Listed Logistics Companies 17.84x
India Market PE Ratio Median Figure of 2,738 Publicly-Listed Companies 16.33x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TCI Express.

NSEI:TCIEXP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:TCIEXP Share Price ÷ EPS (both in INR)

= 652.3 ÷ 17.99

36.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TCI Express is overvalued based on earnings compared to the IN Logistics industry average.
  • TCI Express is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does TCI Express's expected growth come at a high price?
Raw Data
NSEI:TCIEXP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 36.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
22%per year
India Logistics Industry PEG Ratio Median Figure of 7 Publicly-Listed Logistics Companies 1.49x
India Market PEG Ratio Median Figure of 585 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

NSEI:TCIEXP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 36.25x ÷ 22%

1.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TCI Express is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on TCI Express's assets?
Raw Data
NSEI:TCIEXP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹60.77
NSEI:TCIEXP Share Price * NSEI (2019-04-22) in INR ₹652.3
India Logistics Industry PB Ratio Median Figure of 20 Publicly-Listed Logistics Companies 1.49x
India Market PB Ratio Median Figure of 3,628 Publicly-Listed Companies 1.11x
NSEI:TCIEXP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:TCIEXP Share Price ÷ Book Value per Share (both in INR)

= 652.3 ÷ 60.77

10.73x

* Primary Listing of TCI Express.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TCI Express is overvalued based on assets compared to the IN Logistics industry average.
X
Value checks
We assess TCI Express's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Logistics industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Logistics industry average (and greater than 0)? (1 check)
  5. TCI Express has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is TCI Express expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TCI Express expected to grow at an attractive rate?
  • TCI Express's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • TCI Express's earnings growth is expected to exceed the India market average.
  • TCI Express's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:TCIEXP Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:TCIEXP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 22%
NSEI:TCIEXP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 16.2%
India Logistics Industry Earnings Growth Rate Market Cap Weighted Average 30.7%
India Logistics Industry Revenue Growth Rate Market Cap Weighted Average 15.2%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:TCIEXP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:TCIEXP Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 14,329 1,074 1,096 5
2020-03-31 12,368 841 893 6
2019-03-31 10,476 642 717 6
NSEI:TCIEXP Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 10,073 689
2018-09-30 9,731 656
2018-06-30 9,295 624
2018-03-31 8,851 739 584
2017-12-31 8,418 557
2017-09-30 7,999 490
2017-06-30 7,814 459
2017-03-31 7,503 523 375
2016-12-31 5,510 284
2016-09-30 3,635 184
2016-06-30 1,756 69
2016-03-31 -768 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TCI Express's earnings are expected to grow significantly at over 20% yearly.
  • TCI Express's revenue is expected to grow by 16.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:TCIEXP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from TCI Express Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TCIEXP Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 29.05 31.30 26.00 4.00
2020-03-31 23.36 26.50 21.98 6.00
2019-03-31 18.74 19.10 18.10 6.00
NSEI:TCIEXP Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 17.99
2018-09-30 17.14
2018-06-30 16.29
2018-03-31 15.25
2017-12-31 14.55
2017-09-30 12.78
2017-06-30 11.96
2017-03-31 9.79
2016-12-31 7.43
2016-09-30 4.84
2016-06-30 1.83
2016-03-31 0.00

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • TCI Express is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess TCI Express's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TCI Express has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has TCI Express performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TCI Express's growth in the last year to its industry (Logistics).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TCI Express has delivered over 20% year on year earnings growth in the past 5 years.
  • TCI Express's 1-year earnings growth is less than its 5-year average (23.6% vs 51.2%)
  • TCI Express's earnings growth has not exceeded the IN Logistics industry average in the past year (23.6% vs 27.5%).
Earnings and Revenue History
TCI Express's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TCI Express Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:TCIEXP Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 10,072.82 688.86 229.65
2018-09-30 9,731.32 656.16 229.65
2018-06-30 9,295.02 623.96 229.65
2018-03-31 8,850.82 583.96 229.65
2017-12-31 8,418.37 557.30 204.39
2017-09-30 7,998.66 489.51 204.39
2017-06-30 7,814.01 458.83 204.39
2017-03-31 7,502.68 374.87 204.68
2016-12-31 5,510.50 284.45 0.11
2016-09-30 3,634.69 184.16 0.11
2016-06-30 1,756.39 69.36
2016-03-31 -0.14
2015-03-31 0.00 0.01
2014-03-31 -0.01 0.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • TCI Express has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • TCI Express used its assets more efficiently than the IN Logistics industry average last year based on Return on Assets.
  • TCI Express has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess TCI Express's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Logistics industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TCI Express has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is TCI Express's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up TCI Express's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TCI Express is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TCI Express's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TCI Express's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TCI Express Company Filings, last reported 3 months ago.

NSEI:TCIEXP Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,326.60 411.30 195.00
2018-09-30 2,326.60 411.30 195.00
2018-06-30 2,068.10 406.60 116.93
2018-03-31 2,068.10 406.60 116.93
2017-12-31 1,826.15 397.21 73.76
2017-09-30 1,826.15 397.21 73.76
2017-06-30 1,600.05 316.14 87.84
2017-03-31 1,607.72 316.14 85.38
2016-12-31
2016-09-30
2016-06-30 1,229.79 408.06 109.13
2016-03-31 1,229.79 408.06 109.13
2015-03-31 0.45 0.00 0.42
2014-03-31 0.45 0.00 0.41
  • TCI Express's level of debt (17.7%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if TCI Express's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (179.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.8x coverage).
X
Financial health checks
We assess TCI Express's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TCI Express has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is TCI Express's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.41%
Current annual income from TCI Express dividends. Estimated to be 0.66% next year.
If you bought ₹2,000 of TCI Express shares you are expected to receive ₹8 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • TCI Express's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • TCI Express's dividend is below the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:TCIEXP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
India Logistics Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:TCIEXP Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 4.55 2.00
2020-03-31 4.10 2.00
2019-03-31 3.15 2.00
NSEI:TCIEXP Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-11-05 2.700 0.419
2018-07-09 2.500 0.402
2018-01-31 2.000 0.389
2017-11-01 2.000 0.357
2017-07-10 1.600 0.299
2017-06-02 1.600 0.329
2017-05-23 1.600 0.351
2017-02-01 1.600 0.435
2017-01-31 1.600 0.529

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, TCI Express has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but TCI Express only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of TCI Express's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.2x coverage).
X
Income/ dividend checks
We assess TCI Express's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TCI Express afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TCI Express has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of TCI Express's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Phool Sharma
COMPENSATION ₹13,621,000
AGE 56
CEO Bio

Mr. Phool Chand Sharma, AMP, has been the Chief Executive Officer & President of TCI EXPRESS at Transport Corporation of India Limited since October 3, 2016. Mr. Sharma serves as Chief Executive Officer of TCI XPS Division at Transport Corporation of India Limited and served as the Chief Executive Officer of Air Courier. He has been a Whole Time Director at TCI Express Limited since August 18, 2016 and also serves as its Chief Executive Officer.

CEO Compensation
  • Phool's compensation has increased by more than 20% in the past year.
  • Phool's remuneration is lower than average for companies of similar size in India.
Management Team

Phool Sharma

TITLE
CEO & Whole Time Director
COMPENSATION
₹14M
AGE
56

Chander Agarwal

TITLE
MD & Executive Director
COMPENSATION
₹45M
AGE
39
TENURE
3.7 yrs

Mukti Lal

TITLE
CFO & Assistant VP
COMPENSATION
₹3M
AGE
40
TENURE
2.7 yrs

S. Das

TITLE
Head of Operation & E-Commerce
AGE
59

Arun Chaturvedi

TITLE
Assistant Vice President of Operations
AGE
49

Vinay Gujral

TITLE
Company Secretary & Compliance Officer
COMPENSATION
₹1M

Manish Jain

TITLE
National Head of Sales & Marketing
AGE
42

Amresh Mishra

TITLE
Head of Human Resources
AGE
44

L. Krishna

TITLE
Regional Head
AGE
55

Noratmal Sarva

TITLE
Regional Head
AGE
53
Board of Directors Tenure

Average tenure and age of the TCI Express board of directors in years:

2.7
Average Tenure
60
Average Age
  • The average tenure for the TCI Express board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dharmpal Agarwal

TITLE
Chairman
COMPENSATION
₹350K
AGE
68

Phool Sharma

TITLE
CEO & Whole Time Director
COMPENSATION
₹14M
AGE
56
TENURE
2.7 yrs

Chander Agarwal

TITLE
MD & Executive Director
COMPENSATION
₹45M
AGE
39
TENURE
3.5 yrs

Murali Chevuturi

TITLE
Non-Executive Independent Director
COMPENSATION
₹500K
TENURE
2.7 yrs

Ashok Ladha

TITLE
Non-Executive Independent Director
COMPENSATION
₹500K
AGE
69
TENURE
2.7 yrs

Taruna Singhi

TITLE
Non-Executive Independent Director
COMPENSATION
₹350K
AGE
64
TENURE
2.3 yrs

Vineet Agarwal

TITLE
Non-Executive Director
COMPENSATION
₹350K
AGE
45
TENURE
3.5 yrs

Prashant Jain

TITLE
Non-Executive Independent Director
COMPENSATION
₹350K
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • TCI Express insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
29. Mar 19 Sell Phool Sharma Individual 29. Mar 19 29. Mar 19 -1,000 ₹725.07 ₹-725,070
14. Mar 19 Sell Phool Sharma Individual 13. Mar 19 14. Mar 19 -1,200 ₹736.09 ₹-881,489
08. Mar 19 Sell Phool Sharma Individual 07. Mar 19 07. Mar 19 -2,500 ₹745.00 ₹-1,862,500
26. Mar 19 Sell Noratmal Sarva Individual 25. Mar 19 25. Mar 19 -800 ₹730.10 ₹-584,080
20. Mar 19 Sell Noratmal Sarva Individual 18. Mar 19 19. Mar 19 -200 ₹731.34 ₹-144,658
08. Mar 19 Sell Mukti Lal Individual 07. Mar 19 07. Mar 19 -200 ₹741.00 ₹-148,200
25. Aug 18 Sell S. Das Individual 24. Aug 18 24. Aug 18 -1,000 ₹710.00 ₹-710,000
07. Aug 18 Sell Mukti Lal Individual 06. Aug 18 06. Aug 18 -500 ₹705.50 ₹-352,750
22. Jun 18 Sell Mukti Lal Individual 22. Jun 18 22. Jun 18 -250 ₹591.80 ₹-147,950
X
Management checks
We assess TCI Express's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TCI Express has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Here's Why I Think TCI Express (NSE:TCIEXP) Might Deserve Your Attention Today

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like TCI Express (NSE:TCIEXP). … Over the last three years, TCI Express has grown earnings per share (EPS) like bamboo after rain; fast, and from a low base. … I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats).

Simply Wall St -

Why TCI Express Limited's (NSE:TCIEXP) High P/E Ratio Isn't Necessarily A Bad Thing

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … To keep it practical, we'll show how TCI Express Limited's (NSE:TCIEXP) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

A Look At TCI Express Limited's (NSE:TCIEXP) Exceptional Fundamentals

Attractive stocks have exceptional fundamentals. … In the case of TCI Express Limited (NSE:TCIEXP), there's … financially-sound

Simply Wall St -

Are TCI Express Limited’s (NSE:TCIEXP) High Returns Really That Great?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Should TCI Express Be Disappointed With Their 25% Profit?

For example, the TCI Express Limited (NSE:TCIEXP) share price is up 25% in the last year, clearly besting than the market return of around -7.8%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … We don't think its coincidental that the share price is growing at a similar rate to the earnings per share.

Simply Wall St -

What Kind Of Shareholders Own TCI Express Limited (NSE:TCIEXP)?

Conversely, insiders often decrease their ownership over time. … Taking a look at the our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about TCIEXP

Simply Wall St -

TCI Express Limited (NSE:TCIEXP): Is Growth Priced In?

TCI Express Limited (NSE:TCIEXP) closed yesterday at ₹639.75, which left some investors asking whether the high earnings potential can still be justified at this price. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … TCI Express's extremely high growth potential in the near future is attracting investors

Simply Wall St -

Can TCI Express Limited's (NSE:TCIEXP) ROE Continue To Surpass The Industry Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows TCI Express has a return on equity of 28% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Have Insiders Been Selling TCI Express Limited (NSE:TCIEXP) Shares?

Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … All up, insiders sold more shares in TCI Express than they bought, over the last year

Simply Wall St -

What Does TCI Express Limited's (NSE:TCIEXP) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … To keep it practical, we'll show how TCI Express Limited's (NSE:TCIEXP) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

TCI Express Limited provides express delivery solutions in India and internationally. The company provides services, including surface express; reverse express; domestic and international air express; and e-commerce express for automotive, pharmaceutical, retail, engineering, apparel, e-commerce, and other industries. It has approximately 40,000 pickup and delivery points with approximately 4,500 containerized vehicles. The company was formerly known as TCI Properties (Pune) Limited. TCI Express Limited was founded in 1996 and is based in Gurugram, India.

Details
Name: TCI Express Limited
TCIEXP
Exchange: NSEI
Founded: 1996
₹25,890,320,375
38,310,625
Website: http://www.tcixps.com
Address: TCI Express Limited
TCI House,
69, Institutional Area,
Gurugram,
Haryana, 122001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI TCIEXP Equity Shares National Stock Exchange of India IN INR 15. Dec 2016
BSE 540212 Equity Shares Mumbai Stock Exchange IN INR 15. Dec 2016
Number of employees
Current staff
Staff numbers
2,608
TCI Express employees.
Industry
Air Freight and Logistics
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 13:03
End of day share price update: 2019/04/22 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/11
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.