Mehabe score: 6 G Factor: 5 Piotski Score: 6 The stock has a rating HOLD. The mehabe team score is reflective of its fundamental and technical merits. A rating above 8 is considered good buy. The stock has a G-Factor of 5 and Piotski score of 6.
Description
TCI Express is engaged in the business to carry express cargo distribution.(Source : 202003-01 Annual Report Page No:92)Site:TCIEXPMain Symbol:TCIEXP
Stock trades at 1448.0, above its 50dma 1314.82. It also trades above its 200dma 1030.84. The stock remains bullish on techicals
The 52 week high is at 1624.00 and the 52week low is at 635.05
Price Chart
P/E Chart
Sales and Margin
Strengths
– has reduced debt.
– is almost debt free.
– has delivered good profit growth of 530.52% CAGR over last 5 years
– has a good return on equity (ROE) track record: 3 Years ROE 28.33%
Weakness
– Stock is trading at 12.82 times its book value
Competition
– The industry trades at a mean P/E of 56.0x. TCI Express trades at the industry’s max P/E of 56.01x. TCIEXP trades at a P/E of 56.0x
– Industry’s mean G-Factor is 5.0 while the mean Piotski score is 5.0. TCIEXP has a G-Factor of 5 and Piotski scoreof 6.
– Average 1 month return for industry is -1.3%. The max 1- month return was given by TCI Express: a return of -1.34 %
Quarterly Results
Sales for period ended Mar 2021 is Rs 280.0 cr compared to Rs 238.0 cr for period ended Mar 2020, a rise of 17.6%
Operating Profits reported at Rs 54.0 cr for period ended Mar 2021 vis-vis 27.0 for period ended Mar 2020 .
Operating Margins expanded 794.1 bps for period ended Mar 2021 vis-vis Mar 2020 .
The EPS for Mar 2021 was Rs 11.08 compared to Rs 8.75 for previous quarter ended Dec 2020 and Rs 4.96 for Mar 2020
Profit & Loss Statement
Profit&Loss Comments
Company reported sales of Rs 844.0 cr for period ended Mar 2021 vis-vis sales of Rs 1032.0 cr for the period ended Mar 2020, a fall of 22.3%. The 3 year sales cagr stood at -1.6%.
Operating margins expanded to 16.0% for period ended Mar 2021 vis-vis 12.0% for period ended Mar 2020, expansion of 400.0 bps.
Net Profit reported at Rs 101.0 cr for period ended Mar 2021 vis-vis sales of Rs 89.0 cr for the period ended Mar 2020, rising 11.9%.
Company recorded a healthy Net Profit CAGR of 20.3% over the last 3 years
Balance Sheet Statement
Cash Flow Statement
Cash Flow comments
CashFlow from operating activities was positive.
CashFlow from operating activities: Rs 119.0 cr for period ended Mar 2021 vis-vis Rs 82.0 cr for period ended Mar 2020
Sales Growth
Profit Growth Statement
Profit Growth Statement
Stock Price CAGR
Return of Equity
General Comments
– The company has had stable/constant Return on Equity (RoE) metric. The RoE on Last Year basis was 26.0% compared to 28.0% over the last 3 Years. – The stock has given a return of 120% on a 1 Year basis vis-vis a return of 38% over the last 3 Years. – The compounded sales growth on a TTM bassis is -18% vis-vis a compounded sales growth of -2% over the last 3 Years. – The compounded profit growth on a TTM basis is 12% vis-vis a compounded profit growth of 19% over the last 3 Years.
Ratios
Shareholding Pattern
– FII shareholding has remained largely constant. The Mar 2021 fii holding stood at 2.27% vis-vis 2.2% for Dec 2020 – Public shareholding has remained largely constant. The Mar 2021 public holding stood at 20.64% vis-vis 21.03% for Dec 2020
Conclusion
– has reduced debt.
– is almost debt free.
– has delivered good profit growth of 530.52% CAGR over last 5 years
– has a good return on equity (ROE) track record: 3 Years ROE 28.33% – Stock is trading at 12.82 times its book value
The business fundamentals of the stock remain stable. Stronger near term results will build interest in the stock. We suggest to wait for a upturn in business performance.
Technically, the stock remains above its 50 DMA 1314.82 and is trading at 1448.0, thus bullish price action wise.
