TVS Supply Chain Solutions trades lower on Day 2

The share had closed at Rs 201 on the debut day, 2 percent higher from the issue price of Rs 197

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TVS Supply Chain Solutions was trading lower on the National Stock Exchange on August 24 afternoon, a day after making a quiet market debut. The share ended the listing day at Rs 201, 2 percent higher from the issue price of Rs 197.

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The Chennai-based company opened its IPO for bidding on August 10. The issue was subscribed 2.78 times.

With a valuation of 209.43x PE on the basis of its FY23 earnings, TVS Supply Chain Solutions has a “higher” valuation than its peers including Mahindra Logistics and Delhivery.

For the FY23 fiscal, the supply-chain solutions’ player recorded a net profit of Rs 41.7 crore against a loss of Rs 45.8 crore in FY22. The EBITDA margin stood at 6.7 percent for FY23, down from 7.2 percent in FY22 . EBITDA is short for earnings before interest, depreciation, taxes and amortisation.

Chennai-based TVS Supply Chain Solutions is a global logistics company providing services under the Integrated Supply Chain Solutions and Network Solutions categories.

At 12:40 pm, the stock was trading at 198.75, down by 1.5 percent from the previous close, with a trading volume of 1,928,309 shares.

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