Zinka Logistics Q4 Review: Revenue Misses Morgan Stanley Estimates
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.
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%.
