Slide 1: TCI Express – Leader in Express (exchange intimation letter)
TCIEX@FHESS ——— LEADER IN EXPRESS———— November 02, 2020 To, Listing Department Listing Department BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street — Bandra Kurla Complex, Mumbai- 400001 Bandra (E) Mumbai — 400 051 Scrip Code: 540
Slide 2: Q2 FY2021 Earnings Presentation
Q2 FY2021 Earnings Presentation
Slide 3: Q2 FY2021 Highlights
Q2 FY2021 Highlights Strong recovery in Revenue and improved EBITDA and PAT margins, as businesses heads on the path to economic recovery Key Highlights: ▪ Q2 FY21 saw sequential improvement with strong pick-up in economic and business activities across the country Rs. 214 Cr Rs. 34 Cr 137.7% q-o-q
Slide 4: H1 FY2021 Highlights
H1 FY2021 Highlights Revenue impacted due to lockdown restrictions, maintained stable EBITDA and PAT margins Rs. 305 Cr (42.3)% y-o-y 35.7% H1 FY21 Income Q2 FY21 ROCE Rs. 38 Cr (40.1)% y-o-y 26.7% Margin 12.3% H1 FY21 EBITDA Q2 FY21 ROE Rs. 24 Cr (45.2)% y-o-y 185.2% Margin 8.0% H1 FY21 PAT Cash Co
Slide 5: Management Commentary
Management Commentary Commenting on the results, Mr. Chander Agarwal, Managing Director, said: “Second quarter of the fiscal year witnessed strong pick-up in economic and business activities across the country. Recovery in general and particularly in logistics sector which started from mid-May, cont
Slide 6: Fastest Express Delivery Company in India
Fastest Express Delivery Company in India Year of Commencement 1997 TCI XPS was established in 1996 as one of the foremost divisions of Transport Corporation of India Locations Serviced 40,000 Specialized in offering time definite solutions with focus on Tier II and III cities Countries Serviced 202
Slide 7: Why TCI Express?
Why TCI Express? Ranked 402 in Top 500 Companies based on Market Cap, as on March 31, 2020 Asset Light High Value Cargo No Franchise: Lowest Cost Business Model (Low volume, high All owned Structure margins) Branches API based back- Containerized Superior end technology Movement Customer Support Ser
Slide 8: Geographical Footprint
Geographical Footprint Fastest Delivery Company in India Surface Company Express Branches 800+ Priority Domestic Air Express Express 500+ Express Services International E Commerce Air Express Reverse Express 7 www.tciexpress.in
Slide 9: Strategy and Outlook
Strategy and Outlook Revenue Growth Impacted due to overall economic slowdown however it is minimized with: ❑ Highly diversified client base and well spread across industry verticals ❑ Continuous expansion in Metro and Tier I Cities through new branch offices Capital Expenditure Planned CapEx of Rs.
Slide 10: Financial Performance
Financial Performance Q2 Y-o-Y Q1 Q-o-Q Six Months Y-o-Y Particulars (in Cr) FY2021 FY2020 Growth (%) FY2021 Growth (%) FY2021 FY2020 Growth (%) Income from Operations 212.9 269.5 (21.0)% 88.7 140.0% 301.7 525.6 (42.6)% Other Income 1.5 1.6 1.5 2.9 2.3 Total Income 214.4 271.1 (20.9)% 90.2 137.6% 30
Slide 11: Q2 FY2021 Performance Discussion
Q2 FY2021 Performance Discussion • Total Income declined to Rs. 214 Crores vs Rs. 271 Crores in Q2 FY20 reflecting adverse impact of Covid-19 restrictions, despite significant sequential improvement • Improved EBITDA margins, were achieved due to: o Effective cost control measures – lower operating
Slide 12: Leverage Profile
Leverage Profile Particulars (in Cr) Sep-20 Mar-20 Sep-19 Long Term Debt 1.4 1.9 2.4 Short Term Debt 0.0 0.9 1.1 Total Debt 1.4 2.8 3.6 Less: Cash & Cash Equivalents 87.5 41.2 31.0 Net Debt / (Net Cash) (86.0) (38.3) (27.4) Total Equity 365.0 337.5 310.1 Net Debt / Equity (0.24x) (0.11x) (0.09x) Cre
Slide 13: Cash Flow from Operations vs Free Cash Flows
Cash Flow from Operations vs Free Cash Flows (H1 FY2021) Continue to Generate Strong Cash Flows 77.5 81.1 73.9 70.4 52.3 53.2 49.2 44.4 14.4 11.2 FY2017 FY2018 FY2019 FY2020 H1 FY2021 Cash Flow from Operations Free Cash Flows • Track record of consistent generation of cash flows with a focus on enha
Slide 14: Quarter Performance Trends
Quarter Performance Trends Total Income EBITDA and Margins 271.1 269.2 35.2 32.3 34.0 239.1 214.4 27.9 15.9% 13.1% 11.9% 11.7% 90.2 3.5 3.9% Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 PBT and Margins PAT and Margins 30.2 32.9 31.5 25.5 26.1 25.5 23.5 19.0 1.3 0.9
Slide 15: Annual Performance Trends
Annual Performance Trends Total Income from Operations EBITDA and Margins 1,027.0 1,036.3 887.2 122.2 125.7 751.6 92.7 63.3 11.9% 12.1% 10.5% 8.4% FY2017 FY2018 FY2019 FY2020 FY2017 FY2018 FY2019 FY2020 PBT and Margins PAT and Margins 89.1 111.9 117.0 72.8 83.8 58.4 56.5 10.9% 11.3% 37.5 9.4% 7.5% 8
Slide 16: Key Ratios
Key Ratios Dividend per Share (Rs) & Payout (%) Return on Capital Employed (%) 4.0 42.8% 38.2% 38.0% 3.0 35.7% 2.5 31.5% 1.6 16.3% 16.4% 15.8% 17.2% FY2017 FY2018 FY2019 FY2020 FY2017 FY2018 FY2019 FY2020 Q2 FY21 Return on Equity (%) Current Ratio (x) 31.8% 30.7% 29.5% 26.1% 26.7% 2.52x 2.42x 1.69x
Slide 17: Express Industry – An Outlook
Express Industry – An Outlook Logistics as % of GDP 60% 14% India GDP $2.7 TN Road $2,726 Bn Total Logistics Spend $360 Bn 31% Rail Road Transportation $210 Bn Indian 15% Logistics Market $13,608 Bn Un-Organised Segment 95% Split 9% Water 8% TCI Express Carries $10 Bn $20,494 Bn 0.1% TCI Express Mar
Slide 18: Indian Logistics Industry
Indian Logistics Industry Recent Logistics Sector Transformation Initiatives Infrastructure Development Formalization of Sector Operational Efficiency • Launch of New Dedicated Freight • Goods and Service Tax • Automation of Sorting Centres Corridor • Improved Rail and Port Connectivity • Implementa
Slide 19: Management Team
Management Team Mr. D P Agarwal, Chairman & Director Mr. D P Agarwal is the Chairman and Director of TCI. Mr. Agarwal has been associated with the transport industry for more than 51 years. He has been contributing in developing the unorganized logistics sector into an organized one. Mr. Agarwal is
Slide 20: Management Team
Management Team Mr. Mukti Lal, Chief Financial Officer Mr. Mukti Lal is the Chief Financial Officer at TCIEXPRESS. He is a qualified Chartered Accountant and has been associated with Transport Corporation of India Limited (the Demerged Company) in various capacities for last 16 years. He was working
Slide 21: Awards and Recognitions
Awards and Recognitions Logistics Excellence Tech innovator of The Year Best Express Logistics Services Provider of the Year TCI Express is now certified as Great Place to Work 13th Express , Logistics & Supply chain Leadership Awards At India Logistics Summit & Awards 2019 Bharariya Manvata Vikash
Slide 22: Awards and Recognitions
Awards and Recognitions Won ET Now Stars of the Industry Awards Received Best CFO Award 2019 by for Excellence in CSR in 2018 Financial Express Mr. Chander Agarwal, MD, awarded Won India Cargo Awards as India's Inspirational Business Leaders 2019 in London ‘Best Express Distribution Company’ 2018 21
Slide 23: Corporate Governance
CORPORATE GOVERNANCE Corporate Governance LISTED ENTITY ISO CERTIFIED RATED BY Ranked 402 in Top 500 Companies based on Market Cap, as on March 31, 2020 IATA CERTIFICATE Business Superbrand The Economic Times of 2020 Iconic Brands Of India 22 www.tciexpress.in
Slide 24: Key Takeaways
Key Takeaways ❑ TCI Express revenue has grown at CAGR of 11.2% in last 4 years ❑ Asset light model continues to drive strong cash flows ❑ Consistently paying dividend for last 4 years and generating high return on capital employed ❑ Strong balance sheet and flexible capital structure ❑ Continued foc
Slide 25: Contact Information
Contact Information This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to TCI Express’ future business developments and economic performance.
Slide 26: www.tciexpress.in
TCI EXPRESS LIMITED TCI house, 69 Institutional area, Sector - 32, Gurgaon 122001, Haryana, India P: +91 124 2384090-94 • E: info@tciexpress.in W: www.tciexpress.in • Toll free: 1800 2000 977 25 www.tciexpress.in