BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Transport Corporation of India Ltd. reported a strong set of Q4 FY21 numbers.
Revenues grew a strong 27% YoY (11% QoQ) to Rs 797 crore.
Seaways segment reported strong growth both sequentially (up 25%) and YoY (up 24%), followed by the freight division (up 18% QoQ, 20% YoY) and supply chain management division (flat QoQ, up 41% YoY, due to low base in Q4 FY20).
Ebitda margins expanded 147 basis points YoY to 10.7%, mainly due to a combination of higher gross margins (19.5% versus 19% in Q4 FY20), lower employee to sales ratio (5.3% versus 6% in Q4 FY20) and lower other expense ratio.
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