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Transport Corporation of India

June 6, 2008

Transport Corporation of IndiaTCI’s Net sales rose by 12.7% YoY to Rs3.3bn. However, sales are not comparable YoY due to the hive off of fuel pump stations. Excluding the revenues generated from the fuel pumps, sales rose by 17.8%
YoY.

EBITDA grew by 9.9% YoY to Rs 229 mn. EBITDA margins were stable YoY but improved substantially by 188bps QoQ to 7.0% due to improved performance from the TCI Seaways division. depreciation. Interest cost grew by 38.5% YoY to Rs 43 mn due to higher borrowings. Depreciation fell by 104.5% YoY to (Rs 2.5 mn) due to a change in the depreciation policy.

TCI’s supply chain division has added new customers like ITC foods division, Ceat Tyres, P&G, Spinach, etc. TCI also added ~8.0 lac sq ft of warehouse space during FY08. XPS, the Courier division of TCI recorded a 20% growth.

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