Zinka Logistics Q4 Review: Revenue Misses Morgan Stanley Estimates
Morgan Stanley remained largely unchanged on Zinka Logistics after the company reported its Q4 earnings result and missed revenue estimates. The research firm maintained a target price of Rs 490, as per its note.
The brokerage also noted a rise in transacting truck operators to over 7,65,000 under a positive lens. Monthly transacting truck operators using at least two services also increased to 3,68,000, exceeding the research firm's estimate of 3,67,000.
Gross transaction value of payments rose 8.7% quarter-on-quarter but was 3.5% below estimate; the main drag was a 2% miss in payment volume.
Adjusted Ebitda margin saw a 31.8% growth, missing the brokerage's estimate of 33.3%. Profit Before Tax also fell short of estimates, though the firm noted, "There was a deferred tax reversal of Rs 2,450 million, which led to a substantial beat in PAT."
Zinka Logistics Share Price Today
The scrip rose as much as 6.74% to Rs 491 apiece, the highest level since May 22. It pared gains to trade 2.39% higher/lower at Rs 471 apiece as of 11:27 a.m. This compares to a 0.28% decline in the NSE Nifty 50 Index.
The share price of the stock has fallen 2.46% on a year-to-date basis. Total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 62.72.
Out of six analysts tracking the company, five maintain a 'buy' rating and one recommends 'hold,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 21.4%.
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