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You are here : IndiaNotes >> Research & Analysis >> Companies >> TCI Express Ltd. >> Research

TCI Express Q2FY18: Good all-round results; Overweight

Firstcall India Equity | 12 Jan, 2018  | Follow Author | Add to my Favourites 
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During Q2 FY18, the company’s net profit stood at Rs. 130.50 mn as against Rs. 99.82 mn in the corresponding quarter ending of previous year.


Revenue for the 2nd quarter stood at Rs. 2035.66 mn from Rs. 1851.01 mn, when compared with the prior year period.


For the Q2 FY18, EBITDA stood at Rs. 201.43 mn as against Rs. 170.94 mn in the corresponding period of the previous year.


During Q2 FY18, Profit before tax stood at Rs 182.76 mn against Rs. 154.57 mn in Q2 FY17.


EPS of the company stood at Rs. 3.41 a share during the quarter, as against Rs. 2.61 per share over previous year period.


The company has announced first interim dividend @ 50% (Re. 1.00) per share on face value of Rs.2/per share) for financial year 2017-18.


The Revenues of the company has increased to Rs.4067.36 mn in H1 FY18 from Rs.3607.41 mn in H1 FY17, higher by 12.75%.


In H1 FY18, The PAT of the company has increased to Rs. 251.70 mn from Rs. 169.22 mn in H1FY17.


Reported earnings per share of the company stood at Rs. 3.41 in Q2 FY18 as against Rs. 2.61 in the corresponding quarter of the previous year.

 

Profit before interest, depreciation and tax stood at Rs. 201.43 million as against Rs. 170.94 million in the corresponding period of the previous year, up by 17.83%.

 

During the 2nd quarter, net profit stood at Rs. 130.50 million as against Rs. 99.82 million in the corresponding quarter ending of previous year.


OUTLOOK AND CONCLUSION



At the current market price of Rs. 583.85, the stock P/E ratio is at 41.51 x FY18E and 35.82 x FY19E respectively.



Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 14.07 and Rs. 16.30 respectively.



On the basis of EV/EBITDA, the stock trades at 27.24 x for FY18E and 23.64 x for FY19E.



Price to Book Value of the stock is expected to be at 10.45 x and 8.09 x for FY18E and FY19E respectively.


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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