Performance Highlights: Q1 FY2022 vs. Q1 FY2021
- Revenue from operations of Rs223cr, growth of 151.2% yoy
- EBITDA of Rs34cr compared to Rs3.5cr in Q1 FY2021
- EBITDA margin at 15.0% compared to 3.9% in Q1 FY2021
- PAT of Rs24cr compared to Rs1 Cores in Q1 FY2021
- PAT Margin at 10.6% compared to 1.0% in Q1 FY2021
TCI Express team was better prepared to mitigate the pandemic impact on the business and as a result the Company delivered Revenue from Operations of Rs223cr in Q1 FY2022, a resilient financial performance despite the challenging market conditions.
The Company also delivered a strong EBITDA of Rs34cr while maintaining the EBITDA margins of 15.0%. As expected, EBITDA margins were down on a sequential basis primarily due to lower utilization levels of 83.5% as compared to 86.5% in Q4 FY2021 and increase in employee cost due to annual appraisal. Our Profit after Tax stood at 24cr with margin of 10.6%.
During the quarter, we had received the required regulatory approvals for our 1.5 lakh sq. ft Pune sorting centre and it is now operational. It will also improve operational efficiency by ensuring faster and reliable service and support our branch expansion plans in the region.
The company had incurred a capex of Rs16cr towards the development of another 2 lakh sq. ft sorting centre in Gurgaon and remain committed and focused on making it operational within the next 6 months with full automation. We have also added 15 new branches during the quarter mainly in the North and West region to cater to the growing business demand from SME customers.
Our new offerings, the Cold Chain and C2C, although at the nascent stages have started to contribute to the topline. Furthermore, under our Cold Chain service, we have transported 50 lakh vaccines and 10,000+ oxygen concentrators during the quarter.
Sustainability is a core pillar of our long-term strategy and as an organization we remain committed to reduce our carbon footprint and use renewable sources of energy. With this in mind, I am pleased to announce that TCI Express has become the first logistics company in India to install solar panels on its sorting centre (Pune) and should be self sufficient to meet the energy requirements going forward.
Looking ahead, we saw a pick-up in economic activities from June onwards and remain cautiously optimistic for the upcoming quarteRsTCI Express remains well positioned to capitalize on the growing opportunities with its asset light business model, value added service offerings and strong network of business partners and customers.”
On Sensex, at around 1:54 PM, TCI Express was trading at Rs1,571.90 apiece down by Rs49 or 3.02% on Sensex.