TCI Express Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,846 Cr
- P/E
- 20.25
- ROE
- 11.12%
- PEG
- -1.47
- Price to sales
- 1.48
- Debt to equity
- 0.04
- 52W high / low
- ₹693 / ₹459
- Sales growth (5Y)
- 7.93%
- EBITDA margin
- 10.74%
- Net profit margin
- 7.19%
- Promoter holding
- 69.46%
- Sales (last year)
- ₹1,261 Cr
TCI Express Limited is an express cargo logistics company with its own set up across India. It carries distribution through various modes of transport and is specialized in offering time definite solutions. [1]
Guidance scorecard · Q1 FY27 call
What TCI Express Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
10–20%- Targeting overall volume growth of 11% to 12% for the year.
- Expect price hikes netting around 3%, leading to total revenue growth of approximately 13% to 15%.
- Focus on both adding new clients and increasing growth with existing customers across industries.
- Accelerated growth expected in multi-modal logistics services, increasing revenue contribution from 17%-18% to ~19% this year, aiming for 22%-25% by 2030.
- Strong growth momentum in Surface Express (largest revenue contributor) with a targeted double-digit growth ahead.
- E-commerce Express is the fastest-growing vertical, with 63% YoY growth in Q1 and plans to expand footprint via last-mile and first-mile logistics.
2 more points from TCI Express Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what TCI Express Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Current year capex guidance: INR 125 crores to INR 140 crores.
- INR 20 crores already spent in ongoing construction projects at four locations: Ahmedabad, Kolkata, Corporate Office, and Lucknow.
- Land acquisition plans underway in Mumbai, Chennai, and Bangalore with deals expected soon.
2 more points from TCI Express Ltd's call on capex
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FundraisingQ1 FY27 call
See what TCI Express Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The management highlighted a "visible pipeline" of new customers and business opportunities, providing confidence to accelerate growth in coming quarters.
- There is a focus on expanding branch network and acquiring more customers across various industrial sectors.
- Efforts continue to strengthen multi-modal logistics capabilities and digital tools.
2 more points from TCI Express Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of TCI Express Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of TCI Express Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 326 | 305 | 320 | 312 | 317 | 293 | 311 | 296 | 307 | 287 | 309 | 314 | 327 |
| Expenses + | 272 | 258 | 270 | 266 | 272 | 259 | 273 | 266 | 279 | 257 | 273 | 281 | 294 |
| Operating Profit | 54 | 46 | 50 | 46 | 45 | 34 | 38 | 30 | 28 | 30 | 35 | 33 | 33 |
| OPM % | 17% | 15% | 16% | 15% | 14% | 11% | 12% | 10% | 9% | 10% | 11% | 11% | 10% |
| Other Income + | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 6 | 3 | 3 | 3 | 4 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 5 | 5 | 6 | 9 |
| Profit before tax | 51 | 43 | 47 | 42 | 42 | 30 | 35 | 27 | 27 | 28 | 33 | 30 | 27 |
| Tax % | 24% | 25% | 25% | 24% | 24% | 24% | 25% | 25% | 24% | 24% | 24% | 25% | 24% |
| Net Profit + | 38 | 32 | 36 | 32 | 32 | 23 | 26 | 21 | 21 | 21 | 25 | 23 | 21 |
| EPS in Rs | 10.04 | 8.44 | 9.28 | 8.40 | 8.24 | 6.03 | 6.86 | 5.39 | 5.39 | 5.48 | 6.55 | 5.96 | 5.41 |
Financials of TCI Express Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 0 | 0 | 750 | 885 | 1,024 | 1,032 | 844 | 1,081 | 1,241 | 1,254 | 1,208 | 1,236 |
| Expenses + | 0 | 0 | 688 | 794 | 904 | 910 | 710 | 907 | 1,047 | 1,067 | 1,078 | 1,104 |
| Operating Profit | 0 | -0 | 62 | 91 | 119 | 122 | 134 | 175 | 194 | 187 | 130 | 132 |
| OPM % | 8% | 10% | 12% | 12% | 16% | 16% | 16% | 15% | 11% | 11% | ||
| Other Income + | 0 | 0 | 1 | 2 | 3 | 4 | 8 | 8 | 7 | 7 | 13 | 14 |
| Interest | 0 | 0 | 2 | 4 | 4 | 1 | 1 | 1 | 2 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 4 | 5 | 7 | 8 | 9 | 10 | 15 | 19 | 22 | 25 |
| Profit before tax | 0 | -0 | 57 | 84 | 112 | 117 | 132 | 172 | 185 | 174 | 120 | 119 |
| Tax % | 0% | 34% | 30% | 35% | 24% | 24% | 25% | 25% | 24% | 24% | 24% | |
| Net Profit + | 0 | -0 | 37 | 58 | 73 | 89 | 101 | 129 | 139 | 132 | 91 | 90 |
| EPS in Rs | 9.79 | 15.25 | 19.01 | 23.22 | 26.17 | 33.47 | 36.35 | 34.35 | 23.65 | 23.38 | ||
| Dividend Payout % | 0% | 16% | 16% | 16% | 17% | 15% | 24% | 22% | 23% | 34% | 0% |
Financials of TCI Express Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Reserves | 0 | 115 | 153 | 199 | 260 | 330 | 426 | 528 | 589 | 696 | 762 | 821 |
| Borrowings + | 0 | 41 | 32 | 41 | 10 | 4 | 2 | 1 | 7 | 10 | 10 | 30 |
| Other Liabilities + | 0 | 35 | 52 | 96 | 102 | 90 | 110 | 120 | 132 | 136 | 144 | 141 |
| Total Liabilities | 0 | 198 | 244 | 344 | 379 | 432 | 547 | 657 | 735 | 850 | 923 | 1,000 |
| Fixed Assets + | 0 | 64 | 97 | 162 | 173 | 185 | 228 | 320 | 374 | 452 | 455 | 494 |
| CWIP | 0 | 9 | 8 | 0 | 1 | 11 | 28 | 6 | 61 | 16 | 20 | 29 |
| Investments | 0 | 0 | 0 | 0 | 1 | 30 | 60 | 88 | 33 | 94 | 162 | 159 |
| Other Assets + | 0 | 126 | 139 | 182 | 203 | 206 | 231 | 243 | 267 | 288 | 287 | 319 |
| Total Assets | 0 | 198 | 244 | 344 | 379 | 432 | 547 | 657 | 735 | 850 | 923 | 1,000 |
Financials of TCI Express Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | -77 | 52 | 74 | 78 | 81 | 102 | 128 | 147 | 136 | 118 | |
| Cash from Investing Activity + | 0 | -76 | -39 | -63 | -26 | -60 | -96 | -90 | -65 | -108 | -88 | |
| Cash from Financing Activity + | 0 | 163 | -15 | -8 | -47 | -26 | -8 | -31 | -84 | -28 | -32 | |
| Net Cash Flow | 0 | 11 | -2 | 3 | 5 | -4 | -2 | 7 | -2 | -0 | -3 | |
| Free Cash Flow | 0 | -150 | 14 | 11 | 58 | 62 | 47 | 48 | 22 | 84 | 95 | |
| CFO/OP | 767,500% | 117% | 107% | 97% | 92% | 97% | 97% | 98% | 94% | 111% |
Financials of TCI Express Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 64 | 58 | 59 | 73 | 64 | 62 | 67 | 68 | 70 | ||
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 55 | 64 | 58 | 59 | 73 | 64 | 62 | 67 | 68 | 70 | ||
| Working Capital Days | 22 | 14 | 26 | 33 | 36 | 38 | 37 | 42 | 40 | 79 | ||
| ROCE % | -0% | 33% | 40% | 44% | 38% | 34% | 36% | 33% | 27% | 16% | 15% |
Guidance history
How TCI Express Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | — | — |
| Q3 FY26 call → | 10–20% | Up 2%+ | Planned | — | — |
| Q2 FY26 call → | 10–20% | Up 2%+ | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
18 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −29.0% | 25% |
| Last 6 months | −8.3% | 42% |
| Last 3 months | −11.2% | 42% |
The price is 78.9% below its all-time high of ₹2,283.9 (10 Dec 2021). Stocks more than 20% below their peak have their score halved, so 35 became 18.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For TCI Express Ltd: 0.4 × 25 + 0.4 × 42 + 0.2 × 42 = 35, halved to 18 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What TCI Express Ltd's management said in earlier quarters
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