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HDFC Securities has buy on TCI Express, target price Rs 815

Buy TCI Express Ltd. at a price target of Rs 815.0 .|
Updated: Oct 30, 2019, 08.28 AM IST
HDFC Securities has recommended buy rating on TCI Express in the long term with a target price of Rs 815. TCI Express stock rallied 5.42% to Rs 757.50 on Tuesday while BSE Sensex closed 581.64 points up at 39,831.84.

Company Financials

For the quarter ended 30-06-2019, the company has reported standalone sales of Rs 256.17 crore, down 3.64% from last quarter sales of Rs 265.84 crore and up 3.47% from last year same quarter sales of Rs 247.59 crore. The company has reported net profit after tax of Rs 18.41 crore in the latest quarter.

Investment Rationale

The company has a strong balance sheet, robust return ratios such as RoE/RoCE/RoA at 30%/36.5%/26% in FY 2020.The brokerage expects that the company will get benefits from the new expansion, diversified customers, diversified revenue stream, which would lead to 15% CAGR in top-line and 26% EPS CAGR over FY19-21E. .

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Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

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