ICICI Securities: TCI Express Continues To Exhibit Pricing Power
TCI Express Ltd. (Source: Company website)

ICICI Securities: TCI Express Continues To Exhibit Pricing Power

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 Securities Report

TCI Express Ltd. has reported an in-line operational performance in Q2 FY21 with Ebitda of Rs 326 million.

Topline was down approximately 21% YoY, due to ~23.5% decline in volumes and ~3% increase in realisations.

The flexibility of the asset-light operational model comes to the forefront, with gross margin at ~32% (up 356 basis points YoY).

Further Ebitda margin increased 400 basis points YoY as the company could reduce other expenses by ~30% YoY.

Click on the attachment to read the full report:

ICICI Securities TCI Express Q2FY21 Results Update.pdf


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