TCI plans Rs. 250 cr capex for FY23

For the next fiscal year, the Transport Corporation of India plans to spend roughly Rs 250 crore on capital investment. The company expects to invest Rs 100-125 crore on ships and containers as part of its total capital expenditure (Capex). TCI anticipates a top-line growth of 12-15 percent and a bottom-line growth of 20 percent. TCI is well-positioned to exploit market growth, according to Agarwal, who said that even if growth in some industries isn’t as strong as expected, the company would still be able to thrive due to its diverse activities. “We are looking at a Capex of around 250 crore in the next financial year. Of this, about Rs 100-125 crore will be spent on ships and containers and, of course, some amount – may be another Rs 30-50 crore – on trucks. Then, we will also spend on building warehouses…which should be about another Rs 75 crore,” TCI Managing Director Vineet Agarwal revealed. Transport Corporation of India currently has about 12-million sq ft of warehousing space under its management, which is expected to increase further as the company acquires more space going forward, he said.