In an interview with CNBC-TV18, Chander Agarwal, MD of TCI Express said that the company is committed to maintaining its leadership position in the business-to-business (B2B) express trucking business and expressed a cautious approach towards large investments and e-commerce ventures.
TCI Express remains focused on the B2B express trucking business, while consciously avoiding large investments in e-commerce. With a determination to maintain its leadership position, the company is targeting impressive revenue and EBITDA growth for FY24. TCI Express’ commitment to the capex cycle underscores its dedication to continuously improving its infrastructure and services.
In an interview with CNBC-TV18, Chander Agarwal, MD of TCI Express said that the company is committed to maintaining its leadership position in the business-to-business (B2B) express trucking business and shared a cautious approach towards large investments and e-commerce ventures.
He said, “It will be premature to say anything at this point, but of course, we will maintain our leadership in the B2B express trucking business.”
Agarwal made it clear that TCI Express has no plans for any significant investments or ventures in the e-commerce space. The company intends to stay away from the highly competitive e-commerce sector, emphasizing its dedication to its core B2B express trucking business. By maintaining this focus, TCI Express can leverage its expertise and resources to deliver exceptional service to its existing client base.
“It was a degrowth business in FY23. So, we did not have any large investments or any foothold in that, and we will stay away from that,” he added.
Talking about business, he said that the company aims to achieve a robust revenue growth rate of 15-16 percent and an EBITDA growth rate of 25-28 percent in FY24.
While on capex, Agarwal emphasized that TCI Express would continue its capital expenditure (capex) cycle in the upcoming fiscal year. This indicates the company’s commitment to expanding and enhancing its infrastructure, fleet, and operational capabilities to meet the evolving demands of its customers effectively.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
Credit: Source link
