MarketFriction

TCI Express Ltd

NSE TCIEXP · BSE 540212 · Logistics Solution Provider
₹504.75 -3.24%
NSE close2026-10-01
52 week range447.55 - 746.75
Market cap₹2,046 Cr.
P/E22.4
Price band 20% Delivery 28.9%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales320312317293311296307287309314327312
Expenses270266272259273266279257273281294278
Operating Profit504645343830283035333334
OPM %16%15%14%11%12%10%9%10%11%11%10%11%
Other Income222223633343
Interest000000000011
Depreciation555555655697
Profit before tax474242303527272833302730
Tax %25%24%24%24%25%25%24%24%24%25%24%24%
Net Profit363232232621212125232122
EPS in Rs9.288.408.246.036.865.395.395.486.555.965.415.83
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales07508851,0241,0328441,0811,2411,2541,2081,2361,261
Expenses06887949049107109071,0471,0671,0781,1041,126
Operating Profit-06291119122134175194187130132135
OPM %8%10%12%12%16%16%16%15%11%11%11%
Other Income012348877131414
Interest024411121122
Depreciation045789101519222527
Profit before tax-05784112117132172185174120119120
Tax %0%34%30%35%24%24%25%25%24%24%24%
Net Profit-037587389101129139132919091
EPS in Rs9.7915.2519.0123.2226.1733.4736.3534.3523.6523.3823.75
Dividend Payout %0%16%16%16%17%15%24%22%23%34%30%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%8%0%5%
Compounded Profit Growth148%-2%-14%3%
Stock Price CAGR%-19%-28%-27%
Return on Equity21%18%14%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.0588888888888
Reserves0115153199260330426528589696762821
Borrowings0413241104217101030
Other Liabilities035529610290110120132136144141
Total Liabilities01982443443794325476577358509231,000
Fixed Assets06497162173185228320374452455494
CWIP098011128661161529
Investments000013060883394162159
Other Assets0126139182203206231243267288292319
Total Assets01982443443794325476577358509231,000
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0-7752747881102128147136118104
Cash from Investing Activity0-76-39-63-26-60-96-90-65-108-88-62
Cash from Financing Activity0163-15-8-47-26-8-31-84-28-32-41
Net Cash Flow011-235-4-27-2-0-31
Free Cash Flow0-15014115862474822849525
CFO/OP767,500%117%107%97%92%97%97%98%94%110%99%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days55645859736462676870
Inventory Days
Days Payable
Cash Conversion Cycle55645859736462676870
Working Capital Days22142633363837424143
ROCE %-0%33%40%44%38%34%36%33%27%16%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters69.61%69.61%69.61%69.61%69.53%69.53%69.53%69.53%69.46%69.46%69.46%69.46%
FIIs3.04%2.93%2.42%1.60%1.74%0.93%0.80%0.80%0.85%0.82%0.81%0.79%
DIIs8.84%8.35%8.92%10.20%10.10%9.69%9.60%9.75%9.38%9.39%9.39%8.86%
Public18.50%19.09%19.07%18.60%18.63%19.84%20.07%19.90%20.29%20.33%20.35%20.87%
No. of Shareholders52,12053,42149,66149,31549,70753,37952,54351,18750,62349,72648,01848,357

Fundamentals

Market Cap₹ 2,046 Cr.
Current Price₹ 532
Stock P/E22.4
Book Value₹ 216
ROCE14.6 %
ROE11.1 %
Dividend Yield1.32 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)3%
Standalone figures.
Valuation
Market capRs 1,937 Cr
Enterprise valueRs 1,952 Cr
P/E (TTM)21.25x
Price to book2.34x
Price to sales1.54x
EV / EBITDA13.05x
EV / EBIT15.91x
EV / sales1.55x
Price to cash flow18.66x
Earnings yield4.71%
Dividend yield1.39%
P/E, 3-year average25.15x
P/B, 3-year average3.59x
P/E, 5-year average33.50x
P/B, 5-year average6.52x
Profitability
Operating margin (excl. other income)10.66%
Operating margin (incl. other income)11.81%
EBITDA margin11.86%
Pre-tax margin9.55%
Net profit margin7.23%
Net margin, latest quarter7.17%
ROE11.24%
ROCE14.73%
ROA9.34%
ROE, 3-year average14.61%
ROCE, 3-year average19.20%
ROA, 3-year average12.06%
ROE, 5-year average19.00%
ROCE, 5-year average25.16%
ROA, 5-year average15.52%
ROIC (approx.)11.00%
Tax rate24.36%
Other income / net worth1.72%
Growth
Sales growth (latest year)2.31%
Profit growth (latest year)-1.02%
Sales CAGR, 3 years-0.13%
Sales CAGR, 5 years7.93%
Profit CAGR, 3 years-13.60%
Profit CAGR, 5 years-2.24%
Sales growth QoQ-4.55%
Profit growth QoQ7.75%
Sales growth YoY (latest quarter)8.79%
Profit growth YoY (latest quarter)6.37%
Per share
EPS (TTM)Rs 23.76
EPS (latest year)Rs 23.41
EPS (latest quarter)Rs 5.83
EPS, 3-year averageRs 27.13
EPS, 5-year averageRs 30.25
Book value per shareRs 215.95
Sales per shareRs 328.65
Cash flow per shareRs 27.05
Free cash flow per shareRs 6.51
Dividend per share (latest year)Rs 7.00
Dividend per share, 3-year averageRs 7.67
Dividend per share, 5-year averageRs 7.80
Dividends
Dividend payout29.92%
Dividend payout, 3-year average29.02%
Dividend payout, 5-year average26.59%
Efficiency
Asset turnover1.24x
Fixed asset turnover2.50x
Debtor days70 days
Debtors turnover5.18x
Cash conversion cycle70 days
Working capital days43 days
Leverage
Total debtRs 30 Cr
Cash and bankRs 15 Cr
Net debtRs 15 Cr
Debt to equity0.04x
Net debt / EBITDA0.10x
Interest coverage53.59x
Current ratio (filing 2026-03-31)3.16x
Quick ratio (filing 2026-03-31)3.16x
Trade payables (filing 2026-03-31)Rs 81 Cr
Owners' fund to total sources82.87%
Debt to assets3.02%
Cash flow
Cash from Operating Activity (latest year)Rs 104 Cr
Cash from Investing Activity (latest year)Rs -62 Cr
Cash from Financing Activity (latest year)Rs -41 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 25 Cr
FCFE (approx.: FCF + change in debt)Rs 45 Cr
Cash from ops / profit, 5 years1.09x
Sales to cash flow11.91x
Statement figures
Net sales (TTM)Rs 1,261 Cr
Net sales (latest year)Rs 1,236 Cr
Sales (latest quarter)Rs 312 Cr
Operating profit excl. other income (latest year)Rs 132 Cr
Operating profit (latest quarter)Rs 34 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 150 Cr
PBDT (TTM)Rs 147 Cr
Profit before tax (TTM)Rs 120 Cr
Tax (latest year)Rs 29 Cr
Net profit (TTM)Rs 91 Cr
Net profit (latest year)Rs 90 Cr
Net profit (latest quarter)Rs 22 Cr
Depreciation (TTM)Rs 27 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 903 Cr
Total expenditure (latest year)Rs 1,104 Cr
Total income (latest year)Rs 1,250 Cr
Share capitalRs 8 Cr
ReservesRs 821 Cr
Shareholders' fundsRs 829 Cr
Total assetsRs 1,000 Cr
Net blockRs 494 Cr
Capital work in progressRs 29 Cr
InvestmentsRs 159 Cr
ReceivablesRs 239 Cr
Other liabilitiesRs 141 Cr
Shares outstanding (crore)3.84
Ownership
Promoter holding69.46% (-0.07 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 21.2 is at the 2th percentile of its own 9.4-year range (median 39.2, low 19.7, high 84.4).
P/B 2.34 is at the 1th percentile (median 10.39).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTCIEXPNifty 50Difference
1 week+2.4%-2.8% +5.2 pts
1 month-6.9%-6.8% -0.1 pts
3 months-0.6%-7.6% +7.0 pts
6 months+9.4%+0.4% +9.0 pts
1 year-31.1%-9.9% -21.2 pts
2 years-54.1%-13.6% -40.5 pts
3 years-65.2%+14.2% -79.3 pts
5 years-66.8%+27.9% -94.7 pts
8 mutual fund schemes hold about ₹200 Cr. Over three months 3 bought more and 2 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Multi Cap Fund0.19%109 +40%
HDFC Small Cap Fund0.06%26 -52%
HDFC Manufacturing Fund0.20%21 +3%
Tata Infrastructure Fund0.84%17 +12%
Tata Infrastructure Fund0.84%17 +12%
UTI Transportation & Logistics Fund0.19%8 -8%
HDFC Large & Mid Cap Fund0.00%1
Motilal Oswal BSE 1000 Index Fund0.00%0

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 206% while net profit fell in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹312 Cr +8.7% vs Jun 2025. Net profit ₹22 Cr +4.8%.

Activity

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DateClientSideQtyPrice
2026-09-30Xps Cargo Services LimitedBUY480,000525.00
2026-09-30Tci TradingSELL480,000525.00
2026-09-30Xps Cargo Services LimitedBUY480,000525.00
2026-09-30Tci TradingSELL480,000525.00
2026-09-29Xps Cargo Services LimitedBUY610,000485.00
2026-09-29Tci TradingSELL610,000485.00
2026-09-29Nk Securities Research Private LimitedSELL326,009556.36
2026-09-29Nk Securities Research Private LimitedBUY326,009555.84
2026-09-29Neo Apex Share Broking Services LlpSELL205,315580.70
2026-09-29Neo Apex Share Broking Services LlpBUY207,395570.69
2026-09-29Xps Cargo Services LimitedBUY610,000485.00
2026-09-29Tci TradingSELL610,000485.00
Ex-dateActionFactor
2026-02-06Interim Dividend - Rs 7 Per Share
2025-07-16Dividend - Rs 2 Per Share
2025-02-12Interim Dividend - Rs 3 Per Share
2024-11-08Interim Dividend - Rs 3 Per Share
2024-08-06Annual General Meeting/Dividend - Rs 2 Per Share
2024-02-20Interim Dividend - Rs 3 Per Share
2023-10-26Interim Dividend - Rs 3 Per Share
2023-07-28Annual General Meeting/Dividend - Rs 2 Per Share
2023-02-08Interim Dividend - Rs 3 Per Share
2022-11-04Interim Dividend - Rs 3 Per Share
2022-07-27Annual General Meeting/Dividend - Rs 2 Per Share
2022-02-03Interim Dividend - Rs 3 Per Share
2021-10-28 Interim Dividend - Rs 3 Per Share
2021-07-20 Annual General Meeting/Dividend - Rs 2 Per Share
2021-02-16 Interim Dividend - Rs 2 Per Share
2020-07-16 Annual General Meeting
2020-03-19 Interim Dividend - Re 1 Per Share
2020-02-03 Interim Dividend - Rs 1.50 Per Share
2019-11-11 Interim Dividend - Rs 1.50 Per Share
2019-07-23 Annual General Meeting/Dividend - Rs 0.60 Per Share
2019-02-15 Interim Dividend - Rs 1.20 Per Share
2018-11-13 Interim Dividend - Rs 1.20 Per Share
2018-07-25 Annual General Meeting/Dividend- Re 0.50 Per Share
2018-02-07 Interim Dividend Re 1/- Per Share (Purpose Revised)
2017-11-08 Interim Dividend - Re 1/- Per Share (Purpose Revised)
2017-07-25 Annual General Meeting/Dividend - Re 0.80 Per Share
2017-02-07 Interim Dividend Re 0.80 Per Share (Purpose Revised)
DateTypeWhat it says
2026-10-01UpdatesDisclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover)Regulations, 2011.
2026-09-30UpdatesDisclosure under Regulation 7(2)(b) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.
2026-09-30UpdatesDisclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011
2026-09-30Credit RatingCredit Rating
2026-09-10UpdatesDisclosures Under Regulation 29(2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011.
2026-09-05UpdatesDisclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011.
2026-09-03UpdatesDisclosures Under Regulation 29(2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011.
2026-08-29UpdatesDisclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-08-17CessationCessation of Mr as Non- Executive Independent Director of the company w.e.f. August 17, 2026.
2026-08-17CessationCessation of Mr. Prashant Jain as Non- Executive Independent Director of the company w.e.f. August 17, 2026.
2026-08-17Director changeChange in Director(s) of the company.
2026-08-14UpdatesDisclosure under the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
2026-08-13UpdatesDisclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
2026-08-12Concall / analyst meetTranscript
2026-08-12ESOPAllotment of 25175 Shares.
2026-08-12General UpdatesAllotment to Equity Shares under ESOP-2016 Scheme
2026-08-10ResignationResignation of Mr Shivi Suri as Other of the company w.e.f. September 24, 2026.
2026-08-06Concall / analyst meetLink of Recording
2026-08-06General UpdatesAGM -Updates
2026-08-06Shareholder meetingVoting results.
2026-08-06Concall / analyst meetSchedule of meet
2026-08-06Shareholder meetingProceedings of Annual General Meeting held on August 06, 2026
2026-08-06Press ReleaseA press release dated August 06, 2026, titled "Financial Results-Q1 FY 2026-27".
2026-08-06Investor PresentationInvestor Presentation
2026-08-06UpdatesOutcome of Board Meeting.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-08-03NCLTTCI Express Ltd Vs Turtle Book Pvt Ltd
2021-07-22NCLTTCI Express Ltd Vs Turtle Book Pvt Ltd
2021-02-22NCLTTCI Express Limited Vs Arcotech Limited
2020-12-16NCLTTCI Express Ltd Vs Turtle Book Pvt Ltd
2020-12-10NCLTTCI Express Ltd Vs Turtle Book Pvt Ltd
2020-11-23NCLTTCI Express Ltd Vs Turtle Book Pvt Ltd
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of TCI Express Ltd?

TCI Express Ltd (TCIEXP) has a market capitalisation of Rs 2,046 Cr. at the 2026-10-01 close.

What is the P/E ratio of TCI Express Ltd?

TCI Express Ltd trades at a P/E of 22.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were TCI Express Ltd's latest quarterly results?

In the Jun 2026 quarter, TCI Express Ltd sales was Rs 312 Cr (+8.7% vs Jun 2025) and net profit was Rs 22 Cr.

What is the 52-week high and low of TCI Express Ltd?

The 52-week high is Rs 746.75 and the 52-week low is Rs 447.55.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03