Transport Corporation of India Q2 Results Review- Inline; Outlook Remains Bright; Reiterate Buy: Motilal Oswal

Motilal Oswal Report

Transport Corporation of India Ltd. is benefiting immensely from being a multi-modal logistics provider. It is the only player in the domestic logistics industry that offers services across road, rail, and sea. The company’s established infrastructure, long-standing customer relationships, and experienced management team should boost its position as a preferred third-party logistics partner.

We have retained our estimates for FY25/FY26/FY27 and expect Transport Corporation of India to deliver a CAGR of 15%/19%/18% in revenue/Ebitda profit after tax over FY24-27.

We reiterate our Buy rating on the stock with a target price of Rs 1,290, based on 17 times FY27E earnings per share.

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