TCI Express Limited
7,219words
15turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
98%
2%
rs
3,000
2 lakh
1.40 lakh
40%
20%
14%
Rs. 290.2
Rs. 33.4
11.5%
Guidance — 15 items
Operational
opening
“12.9 Crores in Q1 FY26 for expansion of branch network, construction of sorting centers and ramping up IT infrastructure ➢ C2C segment recorded a growth of 14%+ in Q1 FY26 12 contribution of the Multimodal segment to 20–22% of total revenue over the next two to three years.”
Operational
opening
“Additionally, our C2C segment recorded a growth of 14%+ in Q1 FY26, reflecting our continued efforts to diversify and strengthen revenue streams across business segments.”
Operational
opening
“Our multimodal express capabilities remain a key pillar of our long-term strategy, contributing positively to performance in Q1 FY26.”
Operational
opening
“290.3 Crores ➢ In Q1 FY26, domestic volume growth remained modest across key auto segments—including two-wheelers, passenger vehicles, light commercial vehicles and medium & heavy commercial vehicles.”
Operational
opening
“Resulting in softer revenue performance for the sector ➢ International Air Express segment achieved 33.25% growth in Q1 FY26 if compared with last year ➢ C2C segment recorded a growth of 14%+ in Q1 FY26, reflecting our continued efforts to diversify and strengthen revenue streams across business segments.”
Source
opening
“295.26 313.1 290.2 35.8 12.1% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 33.7 10.8% Q4 FY25 33.4 11.5% Q1 FY26 PBT and Margins PAT and Margins 30.5 10.3% 27.3 8.7% 27.9 9.6% 23.1 7.8% 20.7 6.6% 21.0 7.3% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q4 FY25 Q1 FY26”
Notes
opening
“EBITDA includes other income All Margins are calculated on Total Income 15 15 Cash Flow from Operations vs Free Cash Flows Integration of scale, expertise and technology ensures long-term sustainability of cash flows from operations 128 147 48 22 136 90 118 74 FY22 FY23 FY24 FY25 Cash Flow from Operations Free Cash Flows ➢ Cash flow from operations of Rs.”
Notes
opening
“EBITDA includes other income All Margins are calculated on Total Income 18 18 Annual Performance Trend Industry-leading margin profile * All numbers in Crores unless specified Total Income EBITDA and Margins 1,248.2 1,261.0 1,221.2 1,089.6 183.0 16.8% 202.0 16.2% 194.0 15.4% FY22 FY23 FY24 FY25 FY22 FY23 FY24 172.0 15.8% PBT and Margins 185.0 174.0 14.8% 13.8% FY22 FY23 FY24 120.2 9.8% FY25 PAT and Margins 139.3 131.7 128.8 11.8% 11.2% 10.4% FY22 FY23 FY24 143.0 11.7% FY25 90.8 7.40% FY25”
Notes
opening
“The sector, contributing 12-14% to GDP and employing 22M+, is projected to grow at an 8.8% CAGR by 2029.”
Notes
opening
“500 crores in 5 years (FY23- FY27) ✓ CapEx till FY25 was ₹202.43 Cr ✓ Capital expenditure of Rs.”
Risks & concerns — 3 flagged
Trading Economicsl 29 29 Sectoral and Economic Dynamics Influencing Logistics YoY growth of ICRA Business Activity Monitor Broader Economic and Sector-Specific Headwinds ✓ Weak Performance across sectors: After a mild rebound in April, YoY economic activity growth continued to weaken in June 2025.
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The softness in production and registrations indicates a muted revenue performance for the auto sector ✓ Input Cost Inflation: Input costs remained elevated in June 2025, driven by higher prices for copper, electronics, LPG and rubber, putting continued pressure on margins across manufacturing-related sectors.
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Specialized committees support governance functions Risk Management and Internal Controls A robust risk management framework, supported by regular audits and internal controls, helps identify, assess, and mitigate risks effectively CSR and ESG Oversight The CSR Committee drives ESG and CSR strategy, oversees its implementation and reports progress to the Board Ethics, Compliance, and Sustainability rights, and Policies on ethics, anti-bribery, human whistleblowing accountability.
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Speaking time
4
2
2
2
2
1
1
1
Opening remarks
Operational
Gurugram 2 lakh sq.ft 15,000 600 KW India's first and largest automated B2B sorting center operational from March 2022
Operational
Pune 1.40 lakh sq.ft 11,000 280 KW Equipped with AI cross-belt sorter speeds up sorting, minimizing errors for faster deliveries and reduced inventory times Automation at the Taj Nagar and Chakan, Pune sorting centres significantly reduces throughput time, enhancing efficiency. The automation system has efficiency of 15,000 packages per hour (PPH) at Taj Nagar and 11,000 packages per hour (PPH) at Chakan, Pune, which reduces sorting time by 40% Inhouse ERP and Automation 24x7 Higher Capacity Utilization Enhanced Profitability Shorter Turnaround Time Enhance Customer Satisfaction 5 5 Expanding Service Offering: Surface Express Express solutions with over 60,000 locations with fully containerized fleet of vehicles, offers customized value-added services to meet customer's requirements Over 50K pickup locations and 60K delivery locations ensuring seamless nationwide coverage Fully containerized vehicles for secure and efficient transportation Fast, time-definite deliveries tailored to cus
Source
1. ICRA Research 2. Financial Express 14 14 Quarterly Performance Trends Stable financial performance while sustaining margin profile amidst market dynamics. Total Income EBITDA and Margins Fig in Cr. 295.26 313.1 290.2 35.8 12.1% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 33.7 10.8% Q4 FY25 33.4 11.5% Q1 FY26 PBT and Margins PAT and Margins 30.5 10.3% 27.3 8.7% 27.9 9.6% 23.1 7.8% 20.7 6.6% 21.0 7.3% Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q4 FY25 Q1 FY26
Notes
1. 2. EBITDA includes other income All Margins are calculated on Total Income 15 15 Cash Flow from Operations vs Free Cash Flows Integration of scale, expertise and technology ensures long-term sustainability of cash flows from operations 128 147 48 22 136 90 118 74 FY22 FY23 FY24 FY25 Cash Flow from Operations Free Cash Flows ➢ Cash flow from operations of Rs. 117.5 crore for FY2025 ➢ During FY2025, the company incurred capital expenditure of Rs. 36.81 Crores for expansion of branch network, construction of sorting centers and ramping up IT infrastructure ➢ Efficient working capital management, along with debt free capital structure contributes to generating sustainable free cash flow and attractive returns to shareholders * All numbers in Crores unless specified 16 16 Leverage Profile and Working Capital Cycle Credit rating of A1+ Short Term (ICRA) and AA- Long Term (CRISIL) Stable Working Capital Management Particulars (in Cr) Long Term Debt Short Term Debt Total Debt Mar-24 Mar-25
Notes
1. 2. EBITDA includes other income All Margins are calculated on Total Income 18 18 Annual Performance Trend Industry-leading margin profile * All numbers in Crores unless specified Total Income EBITDA and Margins 1,248.2 1,261.0 1,221.2 1,089.6 183.0 16.8% 202.0 16.2% 194.0 15.4% FY22 FY23 FY24 FY25 FY22 FY23 FY24 172.0 15.8% PBT and Margins 185.0 174.0 14.8% 13.8% FY22 FY23 FY24 120.2 9.8% FY25 PAT and Margins 139.3 131.7 128.8 11.8% 11.2% 10.4% FY22 FY23 FY24 143.0 11.7% FY25 90.8 7.40% FY25
Notes
1. 2. EBITDA includes other income All Margins are calculated on Total Income 19 19 Key Ratios Delivering consistent growth and profitability for our shareholder Dividend per Share (Rs) & Payout (%) Return on Capital Employed (%) 8.0 8.0 8.0 8.0 36.2% 37.7% 33.3% 21.7% 24% FY22 22% FY23 23% FY24 34% FY25 FY22 FY23 FY24 FY25 Current Ratio (x) Cash Conversion Ratio (%) 2.93x 2.40x 2.92x 3.18x 70.0% 73.0% 70.0% 83.0% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 • • ROCE has been calculated on the basis of core assets only Other Income has been excluded from EBIT for calculating ROCE 20 20 Top Industry Players Margins and Profitability EBITDA Margins % EBIT Margins % 21.1% 11.5% 11.5% 9.0% 4.7% 3.6% 12.4% 9.7% 9.0% 3.8% 1.0% 0.0% TCI Express Peer 1 Peer 2 Peer 3 Peer 5 Peer 4 TCI Express Peer 1 Peer 2 Peer 3 Peer 5 Peer 4 PAT Margins % 9.3% 7.3% 6.7% 2.4% 0.3% 0.0% TCI Express Peer 2 Peer 1 Peer 3 Peer 4 Peer 5