TCI Express eyes Rs 900-cr turnover this fiscal

Logistics firm TCI Express is looking at a turnover of Rs 900 crore in the ongoing financial year, a top company official has said.
The company had a turnover of Rs 750 crore in the 2016-17 fiscal.
The domestic express logistics industry is of Rs 25,000 crore and TCI Express has a 3-4 per cent market share in it, TCI Express CEO P C Sharma told PTI.
The firm -- which has customers like Hero Moto Corp, Honda and Maruti from the auto sector and drug majors Zydus Cadila and Dr Reddy's Lab from the pharma space -- is also confident of doubling its market share on the back of government reforms, he said.

On the Goods and Services Tax (GST), Sharma - who has over 30 years of experience in the logistics sector - said it will help the sector to expand its business in the country and increase profit profit margins.
Besides, it will make the industry more organised, he said adding that today, there is no clear figure about the worth of the domestic logistic industry because of businesses being done in unorganised manner.

The GST has helped in hassle-free movement of goods and also increased profit margins of companies in the logistics sector. The new tax regime will also boost the supply chain. It will also make the unorganised players tax-complaint, he added.

"I envisage benefits getting passed on to every stakeholder in the entire supply chain. The best part is that GST provides for single tax regime which has ended multiple taxes at various levels," he added.
According to the company's Annual Report for 2016-17, TCI Express has about 72 per cent share of the organised space.
The country's express transportation sector is poised for accelerated growth, led by GDP revival, ramp up in transport infrastructure, e-commerce penetration. Express transportation sector is expected to grow 12-14 per cent, the company said in the report.
TCI Express carries shipments worth USD 7 billion every year, it added.