TCI Express Q4 Review - Margins Continue To Expand: ICICI Securities

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. reported higher than expected Ebitda and profit after tax on the back of better than expected margins.Ebitda margins have again expanded ~260 basis points QoQ/960 basis points YoY to reach 19.6%.Q4 FY21 volumes were up 15% YoY, while blended realisations including the pass-through for diesel price hike was 2.3%.This is not akin to runaway price hikes that we see in air-express as belly cargo stays off the curb.Margin salience in road express has been more driven by:cost controlasset light nature of business and better bargaining power over truckers as rail keeps on pressurizing road freight..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TCI Express Q4 Review - Margins Continue To Expand: ICICI Securities

TCI Express Q4 Review - Margins Continue To Expand: ICICI Securities

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