TCIEXPRESS is now listed on NSE & BSE
Dec 16, 2016: TCIEXPRESS, specialist in Express distribution in India announced the listing of its shares on the bourses. Earlier this year, the company de-merged from its parent company TCI, to form a separate business entity focusing on express delivery services. The company has announced its listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) at an opening value of Rs 369.25 and Rs 367.95 respectively per share.
The total paid up capital of the company stands at Rs 765 lakh. With the demerger, the new shareholding pattern offered is, each shareholder of TCI has been allotted one equity share of Rs 2 each of TCIEXPRESS for every two equity shares of Rs 2 each held in TCI. The opening day trading saw the shares rise to a high of Rs 387.70 per share on NSE and Rs 386.30 per share on BSE and a low of Rs 350.80 per share on NSE and Rs 349.60 per share on BSE. The closing price for the day was Rs 351.95 per share on NSE and Rs 350.55 per share on BSE.
The company revenues touched approximately Rs 364 crore for the first half of the year (H1) registering a moderate growth of 15 per cent, and for the rest of the year company expects to grow in the range of 18 per cent-20 per cent. The EBITDA for H1 of FY 2016-2017 stood at Rs 3131 crore which was 20.38 per cent over the H1 of FY 2015-2016 and PAT stood at Rs 18.43 crore, registering a growth of 35.51 per cent over the H1 of the last fiscal. With strong cash flows TCIEXPRESS is looking at investments to the tune of Rs 250 crore over the next five years. These investments will be used for strengthening sorting centers and storage, strengthening IT capabilities, upgrade assets and set up a strong foundation to meet the market requirements and stay competitive. In the immediate future, the company does not plan to make any significantly large investments but will watch the market after the introduction of the GST before taking any decisions. TCIEXPRESS will be led by Chander Agarwal who serves as the Managing Director to the company. He will be responsible for planning the strategic growth of the company.
Established in 1996, as one of the foremost divisions of its parent company Transport Corporation of India Ltd (TCIL), TCIEXPRESS demerged with a vision to become a leader in door-to-door express logistics player in India. The key focus sectors for TCIEXPRESS include consumer electronics, retail, apparel and lifestyle, automobile, pharmaceuticals, engineering, e-commerce, energy/power and telecommunication. The company has wide distribution network locally with 550 owned centres at present covering more than 13,000 locations.
