Transport Corporation of India Limited has informed the Exchange about Investor Presentation
Dated: October 30, 2025
To,
Listing Department BSE Ltd., Phiroze Jeejeebhoy Towers, Dalal Street – Mumbai- 400001
Listing Department National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400051
Scrip Code: 532349
Scrip Symbol: TCI
Sub: Investors’ Presentation for the 2nd quarter and half year ended September 30, 2025
Dear Sir/Madam,
In compliance with Regulation 30 and 46(2) read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed herewith the Investors’ Presentation for the 2nd quarter and half year ended September 30, 2025.
This is for your information, records and wide dissemination to the public at large please.
Thanking you,
Yours Faithfully, For Transport Corporation of India Limited
(Sunil Kumar) Compliance Officer A-38859
Encl: a/a
Investor Presentation H1 FY2026 30th Oct 2025
TCI: Consolidated Corporate Overview
Freight Div.
Supply Chain Div.
Seaways Div.
Standalone SBUs
Subsidiaries / JVs
Integrated Strengths
67 Years
of industry leadership
$550+Mn
Consolidated Revenue
3
AFTO Trains
06
10K
Domestic Coastal Ships
Trucks in Operations
16+ MnSq.ft.
Managed Warehouse Space
2500+
Train movement
75000+
Clean Fuel Trips
22K+
Cold Pallets positions
250+
Reefer Vehicles
750+
ISO Containers
8.5K+
GP Containers
3.5K+
Employees Strength
1K+
2%
IT Enabled Own Offices
Moving India’s GDP by Value
Growth Drivers to Logistics Industry
Govt. & Policy Enablers
Ongoing policy level intervention with National Logistics Policy Continued budgetary support to modernize logistics infrastructure: ports, DFC, roads, MMMP Accelerated digitization of logistics data through ULIP and associated portals
Customer Demand & Market Growth
Swift adoption of quick commerce/omni channel by digital native population Growing Demand for specialized and differentiated logistics services High demand for warehousing & value-added logistics services
Industry & Investments
Increasing FDI & PE/VC funding in logistics Significant growth in high-value, critical technology manufacturing driven by PLI scheme Enhanced focus on export- oriented manufacturing and deeper integration with global supply chains.
Company Strategy: Everything Logistics
Wide Range Of Bespoke Solutions and Services for Diverse Industries
Strong Multimodal Capabilities & Network
Technology & Automation Driven Operations
Creating Value in High Growth Industry Sectors
Wide range of Services under Single Window
CHA
ODC/PHH
Warehousing
SAARC Cross border
Coastal shipping
LTL/FTL
Liquid & Gas logistics
Global operations
Freight forwarding
Inbound/Outbound Logistics
Reefer Storage
Domestic rail container & auto movement
Port Logistics
Reefer TPT
Customized Solutions for Diverse Industries
Automobiles
Hi-tech (ICE)
Retail and CP
Metals & Minerals
Healthcare/Life Sciences
Energy & Renewables
Aviation & Defense
E-Commerce
Chemicals
Industrial & Engineering
Agri ++
Digitally Advanced Sustainable Solutions
3PL/4PL
Integrated Multimodal Logistics
End-to-End Supply Chain Solutions
Control Tower and Consultancy
Single Window Solutions
Trusted Delivery & Fulfillment
Operational Cost Efficiencies
Economies of Scale
Strong Multimodal Network and Capabilities
Rail
Coastal
High end CBU logistics
Container movement
Cross border movement
Chemicals Logistics
Rake Movement 1410 H1FY26 vs 1168 H1 FY25 (2500 in FY25)
Own Trains : 3 AFTO
Ship Deployed : 6
DWT : 77,957
GP containers : 8,500+
Container Management
Yards & Terminals
Intl/Exim Baffle/ISO Marine
TEUs Handled: 76K H1 FY26 vs 72K H1 FY25 (154K in FY25)
CBUs Handled: 190K H1 FY26 vs 172K H1 FY25 (310K in FY25)
No. of Yards & Terminals managed
Yards : 67
Terminals : 70
We saved 90K Tonnes of e-CO2 in terms of GHG emissions in year H1FY26 ( 160K FY25)
Technology & Automation Driven Operations
Integration Platforms
Strong Tech Team
Security Operation Centre
Version Control
IOT Devices
GPS & GIS
Workman System
Freight Exchange Platform
Geo Fencing, E-Invoice, E- Waybill, GST
Management
Repository System
Temperature Sensors
Dev Ops lifecycle Tool
RFID’s
Project Management System
Barcode Scanners
Tech enabled Infrastructure
Central Monitoring System
Digital Transformation
Customers & Suppliers
Vehicle Tracking System
Center of Excellence
CRM
High Availability Disaster Recovery
Logistics Control Tower
Fleet Management System
Robotics Process Automation
Customer Portal & App
Data Analytics
Control tower
Business Process Optimization
SRM & app
Artificial Intelligence & ML
Business Intelligence Tool
Supplier Management
Performance
Present Across High Growth Industry Sectors
Chemical and Pharma Increasing demand for specialty chemicals
Rising about health care
awareness
Engineering and Industrial
Increasing Government spend on infrastructure
Growth in size of GDP
PLI, 100% FDI in select sectors
Metals and Construction Material
Increasing Investment in Core sector
Infrastructure development
Agriculture, Food grains
Automotive (Mobility and Industrial) Untapped 4W market, 3% penetration vs 22% in China. India is 4th largest market
Rising middle class population
GST Reforms 2.0
Consumption driven sectors: FMCG, Retail, FMCD, Apparel, Textiles etc.
Increasing per capita income
Rise of middle-class and youth population
Expansion of E-com to tier 3/4/5 cities
GST Reform 2.0
Increasing technology production, soil fertility
use in
of crop
Increasing population density and Gov. focus to stabilize chains supply around distribution
Key Highlights
n M n
i
e u n e v e R d e t a d
i l
o s n o C
14000
12000
10000
8000
6000
4000
2000
0
9%
11506
10%
10560
13%
11314
7%
10048
6%
9583
8%
12174
4%
10115
14%
11539
9%
11972
10%
10955
Q1
Q2
Q3
Q4
0
0
2024
2025
2026
YoY growth for the 21st consecutive quarter
Sustained growth momentum despite mixed economic conditions
Maintained resilience through a well-diversified service portfolio, broad sectoral
presence, and extensive customer base
Continued Investments in strategic asset classes 170 Cr (140 Cr internal accruals)
Strong Liquidity with surplus cash surplus of 250 Cr
11
TCI Freight Division: Industry Nature & Trends
Industry
Growth Drivers
USD 180 B Freight Transport Market, highly fragmented and unorganized
LTL Freight Transport Market, relatively organized with 15% share
Increasing adoption technology like on demand trucking and real-time pricing
Increasing awareness on sustainable logistics and demand for multimodal
Need for FTL & LTL from a single provider
Anywhere to anywhere model
Control Tower enabled customized Freight solution with end-to-end visibility
Growing need for in-transit small storage facilities
Packaging support for high value goods, fragile items in LTL segment
25 Strategically located hubs
750+ IT Enabled Owned offices
5,000+ Truck under Operation
Control Towers Single Window Control & Visibility
Cross Border Deliveries across SAARC-BBIN
24X7 Customer Support
TCI Freight Division: Our Edge
Integrated Surface Transport Solution
Hub & Spoke Model
25 strategically located hubs across India that enables TCI Freight to widen its distribution network and enhance reliability in cargo consolidation and transportation.
Our Services
Less Than Truck Load (LTL)
Full Truck Load (FTL)
Over Dimensioned Cargo
Project & Heavy Haul
Cross Border Logistics
Storage Solutions
Containerized Services
CHA Facility
Value Added Services
TCI Freight Division: Key Operational Highlights
Fig in Mn
Particulars
Q2 FY26
Q2 FY25
Gr%
6M FY26
6M FY25
Gr%
Revenue
4252
4252
0%
8364
8439
-0.9%
EBDITA
% to Revenue
EBIT
% to Revenue
128
139
-7.5%
253
287
-11.8%
3.0%
3.3%
3.0%
3.4%
114
125
-8.7%
225
260
-13.5%
2.7%
2.9%
2.7%
3.1%
16,000
13,000
10,000
7,000
4,000
1,000
15,970
16,399
17,110
8,439
8,364
4.2%
3.4%
3.1%
2.8%
2.7%
10%
8%
6%
4%
2%
0%
80%
60%
40%
20%
3,500 3,000 2,500 2,000 1,500 1,000 500 -
Flattish Revenues amid softness in Infra and capital goods sectors and offset by festive restocking A few contracts transferred during Slump Sale to TCI Chem Log Continued focus on network expansion and key industry segments to increase LTL
65%
35%
65%
35%
64%
36%
64%
36%
62%
38%
60%
40%
FY22
FY23
FY24
FY25
6M FY26 FY27 ( E)
LTL
FTL
2,945
2,923
3,060
2,974
2,616
27.6%
20.0%
17.6%
16.0%
14.9%
2022-23
2023-24
6M 2024- 25
2024-25
6M 2025- 26
2022-23
2023-24 6M 2024-
2024-25 6M 2025-
25
26
Revenue (mn.)
EBIT (%)
Capital Emp.(mn.)
ROCE (%)
40%
30%
20%
10%
0%
14
TCI Supply Chain Division: Industry Trends
Industry
Growth Drivers
Market Size USD 15 Bn
Relatively less fragmented with relatively organized market
3PL Growth CAGR 15%
60% constitute road movements
Higher demand for integrated and customized solutions
Supply chain network optimization especially in warehousing
Growth of Omni channel in tier 3/4/5 cities
Increasing demand for automation and technology driven service offerings
3PL penetration is 4.5% Vs 11% Globally
EV/alt fuel impact on 3PL for automotive
4,000+ Vehicles under Operation Owned:1250+
1,250+ Mn Production Logistics Parts Handled
16+ Mn Sq. ft. Warehousing Space Managed
67 Yards Managed
175+ Trains Operated per Month
TCI Supply Chain Division: Our Edge
Comprehensive Multi-Industry Expertise
Integrated End-to-End Solutions
Technology-Driven, Integrated Operations
Proven Scalability and Flexibility
Commitment to Sustainability and Compliance
Connecting the Entire Value Chain
Professional Team Expertise and Experience
Alignment with International Quality Standard
Capability to Drive Superior HSE Outcomes Across Industries
TCI Supply Chain Division: Key Operational Highlights
Particulars
Q2 FY26
Q2 FY25
Gr%
6M FY26
6M FY25
Gr%
Growth momentum continued amidst addition of new contracts and expansion in existing contracts
Revenue
4909
4167
17.8% 9179
8028
14%
Impact of GST rate rationalization on Auto
EBDITA
% to Revenue
EBIT
% to Revenue
455
386
17.8%
871
743
17%
9.3%
9.3%
9.5%
9.3%
Good traction in warehousing, and multimodal services & expansion of hub & spoke network for auto
293
254
15.5%
557
492
13%
Margins stable and remained resilient to various cost pressures
6.0%
6.1%
6.1%
6.1%
17,500
14,500
11,500
8,500
5,500
2,500
14,502
12,763
16,367
8,028
9,179
6.1%
6.5%
6.1%
6.3%
6.1%
2022-23
2023-24 6M 2024-25 2024-25 6M 2025-26
Revenue (mn.)
EBIT (%)
9,000
7,500
6,000
4,500
3,000
1,500
-
16%
11%
6%
1%
5,304
5,587
6,164
3,650
4,271
22.6%
23.6%
20.6%
20.8%
18.9%
2022-23
2023-24
6M 2024- 25
2024-25
6M 2025- 26
Capital Emp.(mn.)
ROCE (%)
80%
60%
40%
20%
0%
17
TCI Seaways: Industry trends
Cargo volume surged from 73 MT (2014–15) to 162+ MT (2023–24); projected to exceed 220 MT by 2030.
National waterways expanded from 5 to 111, with operational length rising from 2,716 km to 4,894 km.
Policy boosts like Sagarmala and the Coastal Shipping Bill, 2024 are driving infrastructure upgrades and cost-efficiency.
Coastal cargo traffic grew 119% in the last decade; inland/coastal shipping offers lower costs, sustainability, and road/rail decongestion.
Government targets doubling modal share of waterways from 6% to 12% by 2030, with $120B+ investment backing.
1% 0%
6%
33%
Rail Road Coastal Air Inland
60%
TCI Seaways: Our Edge
One of the leading multimodal coastal players having presence along the Western, Eastern & Southern ports of India
Expertise in coastal shipping services, container & bulk cargo movements, and transportation services
First-mile and last-mile connectivity via rail & road
Multi-modal solutions with reduced carbon footprint (Green logistics)
06 Mn Domestic Coastal Ships
8,500+ Own Multipurpose Marine Containers
77,975 DWT Total Capacity
7 Out of 12 Major Ports Served
TCI Seaways Division: Key Operational Highlights
Fig in Mn
Particulars
Q2 FY26
Q2 FY25
Gr%
6M FY26
6M FY25
Gr%
Revenue
1341
1554
-13.7% 2824
2892
-2%
EBDITA
621
629
-1.3% 1284
1163
10%
% to Revenue
46.3% 40.5%
45.5% 40.2%
EBIT
533
510
4.7%
1114
913
22%
% to Revenue
39.8% 32.8%
39.5% 31.6%
5,593
5,224
5,877
2,892
29.4%
26.5%
31.6%
34.1%
6,000
5,000
4,000
3,000
2,000
1,000
0
80%
60%
40%
2,824
39.5%
3,000
2,000
20%
1,000
0%
-
Favorable fuel price , freight rates remained benign 2 ships dry-docked during H1 , one more scheduled in Q3
Avg. MT Price of Low Sulpher Fuel
T M / R N
I
80000
60000
40000
20000
0
APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR
FY24
FY25
FY26
4,000
3,593
3,228
3,201
4,090
90%
3,644
56.8%
58.3%
57.6%
44.6%
40.6%
2022-23
2023-24
6M 2024- 25
2024-25
6M 2025- 26
2022-23
2023-24
6M 2024- 25
2024-25
6M 2025- 26
Revenue (mn.)
EBIT (%)
Capital Emp.(mn.)
ROCE (%)
60%
30%
0%
20
TCI’s Joint Ventures
H1 FY26 (FY25) (fig in mn)
Revenue
Y-o-Y Growth
2,455 (4,556)
528 (941)
28.3% (31.8%)
17.4% (16.3%)
Capital Employed
668 (592)
Strategic Partner Share 49%
1020 (937)
20%
6,387 (11,837)
10.9% (17.2%)
3,648 (3,691)
51%
TCI Concor - Operates on asset-light model building upon its capabilities of integrated multimodal logistics solutions Chemicals, Food Grains, Metals etc.
TCI Cold chain Services - catering to temperature- controlled Warehousing along with primary & secondary distribution requirements.
Transystem - Focused on automotive logistics of Japanese clients
21
Financial Highlights Standalone
5.2%
20990
19959
Consolidated
8.3%
23680
21874
e u n e v e R
A T I D B E
T A P
5.3%
10652
10120
7.6%
12174
11314
Q2 FY25
Q2 FY26
6M FY25
6M FY26
Q2 FY25
Q2 FY26
6M FY25
6M FY26
9.6%
2931
2675
9.3%
3128
2862
6.1%
1302
1228
6.9%
1615
1511
Q2 FY25
Q2 FY26
6M FY25
6M FY26
Q2 FY25
Q2 FY26
6M FY25
6M FY26
13.2%
2120
1872
11.0%
2207
1989
6.4%
825
878
5.8%
1135
1073
*Console EBIDTA includes TLI’s share of profit minus Exceptional Items.
Q2 FY25
Q2 FY26
6M FY25
6M FY26
Q2 FY25
Q2 FY26
6M FY25
6M FY26
Consistent performance: Key financial Indicators
20.0
15.0
10.0
5.0
0.0
4,000
3,000
2,000
1,000
0
EV/EBIDTA
Return on Capital Employed
11.0
10.2
13.0
15.0
15.7
12631
13449
15076
16000
11000
17894
19659
6000
24.6%
26.2%
22.8%
24.0%
24.3%
FY22
FY23
FY24
FY25
6M FY26
Consolidated Profit After Tax
1,432
1,504
2,928
3,206
3,545
4160
FY22
FY23
FY24
FY25
6M FY26
Capital Employed Excl. Cash (mn)
ROCE (%)
Return on Net Worth
19146
17078
20960
14404
21.1%
19.2%
20.7%
20.2%
11967
22.3%
1000
25000
22000
19000
16000
13000
10000
7000
4000
1000
FY20
FY21
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
6M FY26
Avg Net Worth (mn.)
Return on Net Worth (%)
60%
50%
40%
30%
20%
10%
0%
50%
40%
30%
20%
10%
0%
Consistent performance: Key financial Indicators
Particulars
Market Cap
Debt Incl. Leases
Cash equivalents
Enterprise Value
P/E
EV/EBITDA
52 Week High
52 Week Low
UOM
Rs Mn.
Rs Mn.
Rs Mn.
Rs Mn.
Nos
Nos
Rs/share
Rs/share
30th Sept’25
Shareholding Pattern as on 30th Sept’2025
90,603
1,927
(204)
92,326
21.4
15.7
1309
876
1% 11%
4%
4%
11%
PROMOTORS
INDIAN PUBLIC
FOREIGN HOLDINGS
BODY CORPORATE
MUTUAL FUND
OTHERS
69%
400%
300%
200%
100%
0%
14.3%
17.3%
17.9%
16.9%
15.6%
125%
300%
350%
350%
400%
CRISIL : AA ( Stable)
ICRA Short Term Rating CP : A1+
DnB Rating: 5A1
Stock returned CAGR of 31% in last 25 years
FY21
FY22
FY23
FY24
FY25
Stock coverage : 13 Buy Rating : 13
Dividend Ratio
Dividend Payout Ratio
24
Nurturing Sustainable Stewardship
Environmental Nurturing Environment for a Healthier Planet
Social Health Safety & Empowerment Societal Impact & Nation Building
Governance Trust, Dependability & Resilience
1400+ train movement ( LY 2500+ ) . 90K ton of Co2 emission saves ( LY 160K Cos2 Ton) Produced 11.5 Mn renewal green energy units.( LY 14.6 Mn) . Under Green Trucking , engaged 3500 CNG, 75K+ trips thru CNG vehicles TCI IIM-B made TEMT tool ISO:14083 certified by SGS for emission measurement and approved by DPIIT https://dpiit.freightemissions.com/
Bharat Mobility - Road safety events under TCI Safe Safar across 9 states engaging 50K+ drivers Health initiatives across 18 states administering 15+ Lakh Vaccinations & other Health services to 22 Lakh people. Artificial limb center has empowered 2112 beneficiaries to stand on their feet again. Urmila Sports Academy trained players for National & International sports events, winning 53 Medals.
Strong and diverse Board Started BRSR in FY’22 voluntarily Long term performance-linked robust remuneration system Configuration & Integration for data security Comprehensive Enterprise risk management and Business continuity plan.
Thought leadership: Case Studies & Industry Knowhow
Case Study Compilations
Industry Knowhow Articles
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Future Outlook
Overall economic activities shown mixed sectorial trends.
Geo-political developments , Government’s push on infra. spending , regaining private sector confidence , easing inflation and monetary policy rates are the major factors to watch
Revenue and Profit growth outlook remains at 10-12%
Fig in Mn
Hub Center & Small WH
Ship
Container
Trucks & Rakes
Others (W/H Equip, IT
Total
Actual (FY07 to FY25)
FY26 Budget
H1 FY26 Actual
7,444
3,989
1,704
6,474
2,142
21,752
1,320
1,350
120
1,280
430
4,500
269
345
75
525
457
1672
Transport Corporation of India Limited TCI House, 69 Institutional Area, Sector 32, Gurugram – 122001 Call: +91 - 124 - 2381603-07 Mail: finance.mis@tcil.com CIN: L70109TG1995PLC019116 Find Us: www.tcil.com