TCI Express Ltd (BOM:540212)
₹ 1136.45 11.75 (1.04%) Market Cap: 43.62 Bil Enterprise Value: 42.65 Bil PE Ratio: 36.03 PB Ratio: 6.21 GF Score: 76/100
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Q3 2024 TCI Express Ltd Earnings Call Transcript

Feb 12, 2024 / 11:30AM GMT
Release Date Price: ₹1274.85 (-3.34%)

Key Points

Positve
  • TCI Express Ltd (BOM:540212) maintained stable profitability and margins despite challenging market conditions.
  • The company recommended a second interim dividend of INR3 per share, bringing the total dividend for nine months FY24 to INR6 per share.
  • Newly launched Rail Express service gained substantial traction, expanding the customer base to 4,000 and covering 125 routes.
  • Ongoing construction of the Pune sorting center is on track to become operational in March 2024.
  • Recognized as one of the top 500 value creator companies by Dun & Bradstreet and received the CII scale award '23 in the express courier category.
Negative
  • Revenue from operations decreased to INR312 crore in Q3 '24 from INR320 crore in Q2 '24 and INR314 crore in Q3 '23.
  • Volume growth was modest at 2.5% year-on-year for nine months FY24, indicating a challenging demand environment.
  • EBITDA margin dropped sequentially, with Q3 '24 EBITDA at INR48 crore and a margin of 15.1%, down from previous quarters.
  • Utilization levels of trucks dropped to 83.5% in Q3 '24, impacting operational efficiency.
  • The company faced headwinds from muted festive demand and an extended holiday season, affecting overall performance.
Operator

Good day, ladies and gentlemen, and welcome to TCI Express Limited Q3 and FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Navin Agrawal, Head, Institutional Equities at SKP Securities Limited. Thank you over to you.

Navin Agrawal
SKP Securities Ltd. - Analyst

Good afternoon, ladies and gentlemen. It's a pleasure to welcome you on behalf of TCI Express and SKP Securities to this Q3 FY24 financial results con call of TCI Express Limited. We have with us Mr. Chander Agarwal, Managing Director, along with his colleagues, Mr. Mukti Lal, CFO; Mr. Pabitra Mohan Panda, COO, Surface; and Mr. Hemant Srivastava, COO, Express Business, Non-Surface.

We'll have the opening remarks from Mr. Agarwal, followed by Q&A session. Thank you. And over to you, Chander-ji.

Chander Agarwal
TCI Express Ltd - Managing Director, Executive Director

-- Navin-ji. Good evening, and welcome, everyone, to Q3 and nine-months

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