CRISIL Ratings has reaffirmed its ‘CRISIL AA-/Stable’ rating on the long-term bank facilities of
TCI Express Ltd (TCI Express).
According to the Rationale, despite lower revenue in fiscal 2021, due to lower freight availability during the lockdown imposed to curb the spread of the Covid-19 pandemic, profitability and financial risk profile were healthy, supported by an asset-light model and a robust capital structure.
The rating continues to reflect the company’s healthy operating efficiency, strong market position and healthy financial risk profile. These strengths are partially offset by its modest scale of operations, low cash flow diversity and exposure to intense competition.
At around 10:44 AM, TCI Express was trading at Rs900 per piece up by Rs5.75 or 0.64% on sensex.
Previosuly on Thursday, the scrip was closed at Rs894.25 per piece on the BSE.