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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Transport Corporation of India Ltd (TCI)

About the Company - Transport Corporation of India Ltd (TCI)

Transport Corporation of India Ltd. is a Public Limited Listed company incorporated on 02/01/1995 and has its registered office in the State of Andhra Pradesh, India. Company’s Corporate Identification Number(CIN) is L70109TG1995PLC019116 and registration number is 019116. Currently Company is involved in the business activities of Freight transport by road. Company’s Total Operating Revenue is Rs. 2904.56 Cr. and Equity Capital is Rs. 15.47 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Transport - RoadFlat Nos. 306 & 307, 1-8-201 to 203, Secunderabad Telangana 500003secretarial@tcil.com
http://www.tcil.com
Management
NamePosition Held
Mr. D P AgarwalChairman & Managing Director
Mr. Vineet AgarwalManaging Director
Mr. S N AgarwalNon Executive Director
Mr. Vijay SankarIndependent Director
Ms. Gita NayyarIndependent Director
Mr. Ravi UppalIndependent Director
Ms. Urmila AgarwalNon Executive Director
Mr. Chander AgarwalNon Executive Director
Mr. S MadhavanIndependent Director
Mr. Vikrampati SinghaniaIndependent Director

Transport Corporation of India Ltd. Share Price Update

Share PriceValue
Today₹895.80
Previous Day₹895.25

Basic Stock Data of Transport Corporation of India Ltd (TCI)

Market Cap 6,452 Cr.
Current Price 830
High / Low1,080/591
Stock P/E19.4
Book Value 239
Dividend Yield0.92 %
ROCE22.4 %
ROE20.5 %
Face Value 2.00

Data Source: screener.in

Competitors of Transport Corporation of India Ltd (TCI)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
North Eastern Carrying Corporation Ltd 302 Cr. 31.737.4/13.148.1 15.60.00 %8.27 %5.56 % 10.0
ABC India Ltd 81.8 Cr. 151161/68.027.0 78.90.34 %7.64 %6.16 % 10.0
Industry Average191.90 Cr91.3537.5547.250.17%7.96%5.86%10.00

Transport Corporation of India Ltd (TCI) Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales8078936968258388989039339679799509941,002
Expenses727804620721728778799836852871849893902
Operating Profit80897610510912010497114108101100100
OPM %10%10%11%13%13%13%12%10%12%11%11%10%10%
Other Income-119810131715201719263228
Interest6653322332234
Depreciation23282526263729303131313133
Profit before tax49745486949788859894949791
Tax %13%11%12%11%12%11%11%14%11%12%11%10%12%
Net Profit43664776838679738682838880
EPS in Rs5.438.386.089.7610.6011.0410.069.3311.0510.5110.6011.2110.23

Transport Corporation of India Ltd (TCI) Quarterly Chart

Transport Corporation of India Ltd (TCI) Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,9542,1312,2262,4171,7271,9432,3502,7542,7182,8023,2593,7833,925
Expenses1,7961,9552,0572,2221,6391,7802,1332,5042,4762,5392,8473,3573,516
Operating Profit15817517019588163216250241263412425409
OPM %8%8%8%8%5%8%9%9%9%9%13%11%10%
Other Income67989227374434314470104
Interest36353334253032373427131012
Depreciation42464755525969778293113121126
Profit before tax8610199114103100152179159174330364376
Tax %31%31%28%29%15%19%19%19%10%14%11%12%
Net Profit597072828881124145143150293321334
EPS in Rs8.199.559.8210.7511.4610.5316.0818.8418.5319.0837.4540.9142.55
Dividend Payout %13%16%19%14%13%10%10%10%11%13%11%17%

Transport Corporation of India Ltd (TCI) Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)18.64%2.86%13.89%7.32%-7.95%53.09%16.94%-1.38%4.90%95.33%9.56%
Change in YoY Net Profit Growth (%)0.00%-15.79%11.03%-6.57%-15.27%61.04%-36.15%-18.31%6.27%90.44%-85.78%

Transport Corporation of India Ltd (TCI) Growth

Compounded Sales Growth
10 Years:6%
5 Years:10%
3 Years:12%
TTM:6%
Compounded Profit Growth
10 Years:17%
5 Years:21%
3 Years:29%
TTM:4%
Stock Price CAGR
10 Years:31%
5 Years:24%
3 Years:51%
1 Year:29%
Return on Equity
10 Years:17%
5 Years:19%
3 Years:19%
Last Year:20%

Transport Corporation of India Ltd (TCI) Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital15151515151515151515151616
Reserves3644224766055606317468771,0091,1541,4151,6861,845
Borrowings3413543363203544214404704222979692159
Other Liabilities154174174197129162196254237272301307300
Total Liabilities8749651,0011,1371,0581,2291,3981,6161,6831,7391,8272,1012,318
Fixed Assets416418432521532542626727772805801791855
CWIP85187125756422572661
Investments28877687104117135150193286450
Other Assets448534543602438544611768755779826998953
Total Assets8749651,0011,1371,0581,2291,3981,6161,6831,7391,8272,1012,318

Transport Corporation of India Ltd (TCI) Reserves and Borrowings Chart

Transport Corporation of India Ltd (TCI) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 12510415812510999157179243305368361
Cash from Investing Activity -97-61-98-121-101-122-131-158-135-107-76-193
Cash from Financing Activity -16-28-63-4-1232-30-24-104-176-258-65
Net Cash Flow1215-3-1-48-4-332134102

Transport Corporation of India Ltd (TCI) Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days636862666967666865675754
Inventory Days
Days Payable
Cash Conversion Cycle636862666967666865675754
Working Capital Days464843485356565558615550
ROCE %18%18%16%17%10%13%16%17%14%15%23%22%

Transport Corporation of India Ltd (TCI) Financial Efficiency Indicators Chart

Transport Corporation of India Ltd (TCI) Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters66.71%66.71%66.54%66.54%66.57%66.57%69.03%69.03%69.00%68.95%68.95%68.92%
FIIs1.70%2.42%2.08%2.31%2.66%3.11%3.32%3.30%2.77%2.54%2.58%2.61%
DIIs12.18%12.40%12.68%12.62%12.25%12.04%11.81%11.70%12.23%12.75%12.87%12.81%
Public19.42%18.48%18.70%18.53%18.52%18.28%15.82%15.97%16.01%15.76%15.61%15.65%
No. of Shareholders26,36829,05128,56338,53838,39841,45750,64750,42052,66249,88042,38341,164

Transport Corporation of India Ltd (TCI) Shareholding Pattern Chart

No. of Transport Corporation of India Ltd (TCI) Shareholders

Transport Corporation of India Ltd (TCI) Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Small Cap Fund - Regular Plan43754781.34360.01
HDFC Childrens Gift Fund - Regular Plan10801281.0888.87
Tata Small Cap Fund7823321.1164.37
HDFC Retirement Savings Fund - Equity - Regular Plan6416211.2152.79
LIC MF Large & Mid Cap Fund3996771.3332.89
Sundaram Services Fund3536530.9129.1
Bandhan Infrastructure Fund3189452.9826.24
Tata Multicap Fund2900000.8523.86
Tata Infrastructure Fund - Regular Plan1328000.710.93
LIC MF Multi Cap Fund1126311.149.27

Transport Corporation of India Ltd (TCI) ROCE Trend

Transport Corporation of India Ltd (TCI) EPS Trend

Transport Corporation of India Ltd (TCI) Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)40.9637.5019.1218.5418.84
Diluted EPS (Rs.)40.9637.3419.0718.5418.80
Cash EPS (Rs.)51.2648.9128.9426.1025.78
Book Value[Excl.RevalReserv]/Share (Rs.)223.28188.51152.83134.01117.03
Book Value[Incl.RevalReserv]/Share (Rs.)223.28188.51152.83134.01117.03
Revenue From Operations / Share (Rs.)487.66421.16363.48353.76359.19
PBDIT / Share (Rs.)58.5755.4337.1833.9335.09
PBIT / Share (Rs.)42.9140.8225.1523.1924.99
PBT / Share (Rs.)41.2139.1619.9917.4420.03
Net Profit / Share (Rs.)35.6134.2916.9015.3615.68
NP After MI And SOA / Share (Rs.)40.9137.4519.0818.5318.84
PBDIT Margin (%)12.0013.1610.239.599.77
PBIT Margin (%)8.799.696.916.556.95
PBT Margin (%)8.459.295.494.925.57
Net Profit Margin (%)7.308.144.644.344.36
NP After MI And SOA Margin (%)8.388.895.255.235.24
Return on Networth / Equity (%)18.6420.2412.5713.9016.18
Return on Capital Employeed (%)18.1620.4814.5914.6817.03
Return On Assets (%)15.1015.858.468.458.93
Long Term Debt / Equity (X)0.020.010.090.140.20
Total Debt / Equity (X)0.030.040.200.350.46
Asset Turnover Ratio (%)1.841.721.501.581.75
Current Ratio (X)3.862.851.771.501.41
Quick Ratio (X)3.842.821.751.491.40
Dividend Payout Ratio (NP) (%)17.1014.146.2710.799.55
Dividend Payout Ratio (CP) (%)12.3610.173.856.836.22
Earning Retention Ratio (%)82.9085.8693.7389.2190.45
Cash Earning Retention Ratio (%)87.6489.8396.1593.1793.78
Interest Coverage Ratio (X)46.2533.4210.747.597.20
Interest Coverage Ratio (Post Tax) (X)29.4721.676.374.734.23
Enterprise Value (Cr.)4777.984651.772178.701793.822879.31
EV / Net Operating Revenue (X)1.261.430.770.661.05
EV / EBITDA (X)10.5210.857.606.8810.70
MarketCap / Net Operating Revenue (X)1.291.420.700.530.89
Retention Ratios (%)82.8985.8593.7289.2090.44
Price / BV (X)2.863.241.691.412.78
Price / Net Operating Revenue (X)1.291.420.700.530.89
EarningsYield0.060.060.070.090.05

Transport Corporation of India Ltd (TCI) Profitability Ratios (%)

Transport Corporation of India Ltd (TCI) Liquidity Ratios

Transport Corporation of India Ltd (TCI) Liquidity Ratios (%)

Transport Corporation of India Ltd (TCI) Interest Coverage Ratios (X)

Transport Corporation of India Ltd (TCI) Valuation Ratios

Fair Value / Intrinsic Value of Transport Corporation of India Ltd (TCI)

Fair Value: ₹959.25

The stock is undervalued by 15.57% compared to the current price ₹830

*Investments are subject to market risks

Strength and Weakness of Transport Corporation of India Ltd (TCI)

StrengthWeakness
  1. The stock has a high average ROCE of 16.58%, which is a positive sign.
  2. The company has higher reserves (906.92 cr) compared to borrowings (315.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.00 cr) and profit (179.77 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 31.41 and average Dividend Yield of 7.78%.
  2. The stock has a high average Working Capital Days of 52.42, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 64.33, which may not be favorable.

Should I Buy Transport Corporation of India Ltd (TCI) Share Now?

  • Based on the analysis of various financial indicators, it may be worth considering investment in Transport Corporation of India Ltd (TCI):
    1. Net Profit Margin: 7.30% (Higher values are generally favorable)
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 18.16% (Industry Average ROCE: 7.96%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 29.47 (Higher values, preferably > 2, are recommended)
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 3.84 (Higher values, preferably > 1, are recommended)
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E: 19.4 (Industry average Stock P/E: 37.55)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.03 (Lower values, preferably < 1, are preferred)
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    While these metrics suggest potential opportunity, it's essential to conduct thorough research or seek advice from financial experts before making any investment decisions.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Transport Corporation of India Ltd (TCI). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE