ICICI Direct has given Buy recommendation for TCI Express with a target price of Rs. 2000 in its research report issued on Jun 07, 2022

ICICI Direct’s research report on TCI Express

TCI Express is a leading asset light B2B (95% of revenues) express logistics company with 28 sorting centres, 800+ owned pan-India centres covering 40000 pick-up and delivery points. SME and corporate clients comprise 50:50 of overall revenues • Total 55% of revenues from sectors like auto ancillary, pharma, engineering.


We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 2000 i.e. 38x P/E on FY24E EPS.

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