TCI Express Limited
NSE: TCIEXP · Logistics Solution Provider · sector
₹461.45NSE close 2026-10-26
Key numbers
Market cap₹1,772 cr
Price₹461.45
52w high / low₹705 / ₹448
P/E21.0xSector median 13.7x
P/B2.2xSector median 1.4x
Book value₹213.2
Dividend yield1.95%Sector median 0.60%
ROE10.4%Sector median 9.1%
ROCE13.4%Sector median 11.4%
OPM10.0%Sector median 7.0%
Debt / equity0.04xSector median 0.24x
EV/EBITDA13.1xSector median 8.9x
Interest cover42.7x
Current ratio3.12x
Sales growth 3y-0.1%Sector median +7.7%
Profit growth 3y-16.4%Sector median -9.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 51 companies in Logistics Solution Provider (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹141 cr vs borrowings ₹33 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 42.7x in the last 12 months.
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 19% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹461.45 on 2026-10-26: -34.5% from the 52-week high, +3.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,099.50 · low ₹461.45
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 312 | 296 | 307 | 287 | 309 | 314 | 328 | 313 |
| EBITDA | 37 | 29 | 26 | 28 | 34 | 32 | 29 | 31 |
| OPM % | 11.8% | 9.8% | 8.5% | 9.8% | 10.9% | 10.3% | 8.9% | 10.0% |
| Other income | 2 | 3 | 6 | 4 | 4 | 3 | 4 | 4 |
| Net profit | 25 | 19 | 19 | 19 | 24 | 22 | 16 | 20 |
| EPS (₹) | 6.49 | 5.00 | 5.05 | 5.13 | 6.23 | 5.74 | 4.77 | 5.20 |
| Revenue YoY | -1.0% | +5.9% | +6.8% | +9.3% | ||||
| Profit YoY | -4.1% | +14.8% | -17.2% | +5.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,081 | 1,241 | 1,254 | 1,208 | 1,238 | 1,264 |
| EBITDA | 175 | 194 | 187 | 125 | 123 | 127 |
| Net profit | 129 | 139 | 132 | 86 | 81 | 82 |
| EPS (₹) | 33.48 | 36.24 | 34.36 | 22.36 | 21.21 | 21.94 |
| Revenue growth | +14.8% | +1.0% | -3.6% | +2.4% | +5.2% | |
| Profit growth | +8.1% | -5.4% | -34.8% | -5.1% | -0.6% | |
| Dividend / share (₹) | 8.00 | 8.00 | 8.00 | 8.00 | 9.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -0.1% | +8.0% | +5.2% |
| Net profit | -16.4% | -4.1% | -0.6% |
| EPS | -16.4% | -4.1% | – |
| Share price | – | -31.9% (2y) | -31.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 596 | 704 | 764 | 819 |
| Borrowings | – | 1 | 3 | 0 | 33 |
| Cash & equivalents | – | 49 | 110 | 163 | 141 |
| Total assets | – | 735 | 850 | 919 | 1,025 |
| Fixed assets | – | 371 | 447 | 458 | 496 |
| Capital work in progress | – | 61 | 16 | 20 | 29 |
| Investments | – | 0 | 1 | 0 | 3 |
| Receivables | – | 211 | 232 | 226 | 239 |
| Inventory | – | 0 | 0 | 0 | 0 |
| Payables | – | 91 | 95 | 94 | 81 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 111 | 147 | 136 | 118 | 101 |
| Cash from investing | -89 | -65 | -105 | -91 | -89 |
| Cash from financing | -31 | -84 | -28 | -32 | -8 |
| Capex | 80 | 126 | 52 | 51 | 125 |
| Free cash flow | 30 | 21 | 84 | 68 | -24 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 23.4% | 18.7% | 11.2% | 9.9% |
| ROCE % | – | 31.2% | 24.8% | 15.2% | 13.2% |
| Debtor days | – | 62 | 67 | 68 | 70 |
| Inventory days | – | 0 | 0 | 0 | 0 |
| Payable days | – | 27 | 28 | 29 | 24 |
| Cash conversion cycle (days) | – | 35 | 39 | 39 | 46 |
| Working capital days | – | 51 | 74 | 90 | 84 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 69.42% |
| FIIs | 0.77% |
| DIIs | 8.72% |
| of which Mutual funds | 8.56% |
| of which Insurance | 0.17% |
| Public (non-institutions) | 21.09% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 69.54% | 69.54% | 69.54% | 69.46% | 69.46% | 69.46% | 69.46% | 69.42% |
| Promoter group | % |
|---|---|
| TCI Express Consolidated Limited | 45.09% |
| Vineet Agarwal | 5.22% |
| TCI Trading (Dharmpal Agarwal) | 4.10% |
| Dharam PAL Agarwal (HUF) | 2.65% |
| Urmila Agarwal | 2.41% |
| Chander Agarwal | 2.39% |
| Priyanka Agarwal | 2.27% |
| XPS Cargo Services Limited | 1.59% |
| Dharmpal Agarwal | 1.15% |
| Chandrima Agarwal | 0.96% |
| Vihaan Agarwal | 0.58% |
| NAV Agarwal | 0.58% |
| TCI Exim Private Limited | 0.41% |
| Vineet and Sons (HUF) | 0.03% |
| Chander and Sons (HUF) | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd A/C Nippon India Multi Cap fund | 5.16% |
| HDFC Mutual Fund - HDFC Manufacturing Fund | 2.31% |
| Investor Education Protection Fund Authority | 1.52% |
| Nirmal Mishrilal Bang HUF | 1.13% |
48,358 shareholders. Pledged: – of promoter shares.
Peers in Logistics Solution Provider
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CONCOR | ₹31,348 cr | 25.1x | 2.4x | 9.8% | 13.2% | 21.6% | +3.6% | 2.22% |
| DELHIVERY | ₹28,082 cr | 300.0x | 2.9x | 1.0% | 2.2% | 5.5% | +13.3% | – |
| SHADOWFAX | ₹16,722 cr | 128.7x | 9.6x | 6.4% | 7.5% | 5.0% | – | – |
| BLUEDART | ₹10,124 cr | 35.3x | 5.7x | 17.2% | 23.6% | 15.3% | +5.9% | 0.59% |
| TCI | ₹6,508 cr | 14.2x | 2.5x | 19.4% | 15.8% | 10.6% | +9.1% | 1.08% |
| TVSSCS | ₹4,879 cr | 75.7x | 2.4x | 3.4% | 8.3% | 7.0% | – | – |
| VRLLOG | ₹4,687 cr | 17.6x | 4.1x | 24.0% | 28.1% | 20.4% | +6.7% | 3.73% |
| MAHLOG | ₹3,871 cr | 104.6x | 3.3x | 4.8% | 11.9% | 5.5% | +10.9% | 0.46% |
| AFCOM | ₹3,781 cr | 18.9x | 8.3x | 54.4% | 45.9% | 35.1% | – | – |
| TCIEXP | ₹1,772 cr | 21.0x | 2.2x | 10.4% | 13.4% | 10.0% | -0.1% | 1.95% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-02-06 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2025-07-16 | Dividend | Dividend - Rs 2 Per Share |
| 2025-02-12 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-11-08 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-08-06 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2024-02-20 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2023-10-26 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2023-07-28 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2023-02-08 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2022-11-04 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2022-07-27 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2022-02-03 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2021-10-28 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2021-07-20 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2021-02-16 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2020-07-16 | Other | Annual General Meeting |
| 2020-03-19 | Dividend | Interim Dividend - Re 1 Per Share |
| 2020-02-03 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2019-11-11 | Dividend | Interim Dividend - Rs 1.50 Per Share |
| 2019-07-23 | Dividend | Annual General Meeting/Dividend - Rs 0.60 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Surface express including C2C express services and Air Express: The Company is a leading B2B express logistics service provider in India, offering efficient and technology-driven transportation solutions through Surface Express, C2C Express, and Air Express services. Surface Express remains the major contributor to the Company’s business operations.
| Sector | Services |
| Industry | Logistics Solution Provider |
| Sub-industry | Logistics Solution Provider |
| Symbol | TCIEXP |
| BSE code | 540212 |
| ISIN | INE586V01016 |
| Face value | ₹2.0 |
| Incorporated | 2008-11-10 |
| Website | www.tciexpress.in |
| Plants (India / abroad) | 998 / 6 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.