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TCI Express: Set for a bounce?

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India’s logistics market was worth Rs 33.63 lakh crore in 2022 and expected to grow by 8% compounded growth rate over the next 5 years to reach Rs 50.4 lakh crore by 2027. It accounts for about 13-14% of India’s economy.

In fact, the growth of the logistics sector correlates directly with that of India’s economy, as is evident in the chart below.

TCI Express Annual Report FY22

So, if you are bullish on India’s economic growth, then logistics sector makes for a decent proxy play to economy.

Within logistics, one company that caught my attention is TCI Express. The company is an express cargo logistics company. Express cargo is an item that needs to be transported from one place to another at short notice. This makes express freight a type of transport that is an essential part of the CEP industry, i.e. courier, express and parcel services.

TCI appeared in my radar mainly by virtue of its strong financial profile. Take a look at this:

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