Latest: Transport Corp. Q2 FY27 results →All Q2 FY26 results →

T.

Transport Corp.

Q2 FY26

Transport Corporation of India Q2 FY26: Capex ₹450 Cr

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹908

Market cap₹7.0K Cr

P/E15.4

Updated23 Aug 2026

Read4 min read

The short version

The company aspires for 10-12% top-line growth for the full year, with about 8% growth expected at standalone level and 12% at consolidated level. The company aims for a consolidated top-line growth of around 10-12% and a PAT (profit after tax) growth of 10-15% at the consolidated level (Page 5).

From Transport Corp.'s Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

The company aspires for 10-12% top-line growth for the full year, with about 8% growth expected at standalone level and 12% at consolidated level.
Supply chain segment showing strong growth: around 17.8% quarterly growth, contributing significantly to overall volume increases.
Freight business showing slow but steady pick-up in volumes and a shift from FTL to LTL, expected to improve margins gradually.
Growth in LTL business driven by MSME segment and infrastructure spending is anticipated to continue, supporting volume growth.
Investment in capacity expansions such as warehouses (e.g., new 285,000 sq ft warehouse in Eastern India) and fleet (trucks and rakes) to support volume growth.

2 more points from Transport Corp.'s call on revenue

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Profitability & Margins

The company aims for a consolidated top-line growth of around 10-12% and a PAT (profit after tax) growth of 10-15% at the consolidated level (Page 5).
EBITDA margins in the freight business are expected to improve gradually, with an anticipated 100 basis points uplift starting next year (Page 6).
Supply chain segment is experiencing strong growth (~17.8% quarterly), with warehouse growth driven by quick commerce and FMCG restructuring (Page 4).
Capacity expansions, including new rakes and warehouses, will support future growth with full capacity utilization expected before incremental capacity additions (Pages 12, 9).
Margins in supply chain are stable; cold chain investment is pressuring consolidated margins but standalone margins remain stable (Page 15).

2 more points from Transport Corp.'s call on margins

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Capital Expenditure Plans

CapEx budget for the year is around ₹450 crores, with about ₹167 crores spent in the first half.
Investment includes addition of approximately 100 trucks under the CapEx plan.
Two rakes have been ordered, expected to be delivered by the end of next financial year (mid FY27).
Expansion of warehousing capacity, including a new large 285,000 sq.ft warehouse in the Kolkata region.
Emphasis on capacity expansion in supply chain and branch network, with around 40 new branches added last year and more expected next year.
Plans for continuous recycling of capital employed, aiming for ROCE in the 20-27% range as the LTL business grows.

2 more points from Transport Corp.'s call on capex

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Fundraising & Capital Structure

CapEx budget for the year is around ₹450 crores, with about ₹167 crores spent in the first half, funded largely from internal accruals (₹140 crores).
Liquidity position remains steady at approximately ₹250 crores.
Management is observing trends before deciding on dividends.

2 more points from Transport Corp.'s call on fundraising

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Order Book & Pipeline

The following related points can be noted: - The company has placed an order for two SUV AFTO or train rakes, expected to be delivered around mid-FY27 (Page 12). - Ship-related costs relate to installments of two orders placed previously, with some uncertainty around second-hand ship acquisitions due to price volatility and geopolitical factors (Page 6).

2 more points from Transport Corp.'s call on order book

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Transport Corp. — Quarterly revenue & net profit

Revenue Net profit

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.4K Cr, net profit ₹117 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Transport Corporation of India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Transport Corp. Q2 FY26 results?

The company aspires for 10-12% top-line growth for the full year, with about 8% growth expected at standalone level and 12% at consolidated level. The company aims for a consolidated top-line growth of around 10-12% and a PAT (profit after tax) growth of 10-15% at the consolidated level (Page 5).

What is Transport Corp. share price analysis?

Transport Corp. currently shows a neutral. The stock trades at a P/E of 15.4 with a market cap of ₹7,032 Cr. Investors should review the full earnings analysis for detailed insights.

Is Transport Corp. planning capital expenditure?

CapEx budget for the year is around ₹450 crores, with about ₹167 crores spent in the first half.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.