Transport Corporation Of India Ltd.

•

tcil.comBSE: 532349NSE: TCI

Market Cap₹ 6,580 Cr.

Current Price

High / Low₹ 1,242 / 853

Stock P/E15.0

Book Value₹ 324

Price to Book2.99

Dividend Yield1.17 %

ROCE21.5 %

ROE20.5 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Supply Chain Solutions Division: 43.2% • Freight Division: 41.5% • Seaway Divition: 15.2%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 26.9% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 21.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.94x)

CONS

A large part of profit comes from other income (26.6% of PBT)
Total debt has risen sharply - up 58.1% year on year
Effective tax rate is unusually low at 7.4% - earnings may be flattered
Recurring exceptional / one-off items are inflating headline profit
Growth is decelerating - 3Y profit CAGR (13.5%) trails the 5Y trend (26.9%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsLogistics

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	CONCOR	505.80	31.02	38522.64	1.70	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	451.00	361.29	33793.18	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	255.05	133.96	14964.56	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	585.40	63.17	10664.07	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	856.45	14.41	6580.20	1.17	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	128.95	87.86	5689.58	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.87	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	399.70	103.12	3968.12	0.63	278.30	3048.09	20028.80	1132.85	10.40	5.76
9.	SINDHUTRAD	23.81	47.44	3671.33	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.58	10.96	2677.09	6.07	51.27	-17.56	549.30	-0.21	17.99	21.31
11.	TCIEXP	535.25	24.95	2057.72	1.31	20.49	5.24	313.40	9.29	13.92	10.03
12.	ALLCARGO	12.29	61.36	1840.77	0.00	140.00	241.47	5460.00	43.06	8.70	13.00

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	860	900	900	954	939	998	994	1,004	984	1,048	1,065	1,128	1,070
	763	803	806	851	839	889	884	888	871	935	943	995	982
Operating Profit	97	97	94	103	100	109	110	117	113	114	121	133	87
OPM %	11.25%	10.75%	10.45%	10.84%	10.67%	10.95%	11.05%	11.64%	11.49%	10.83%	11.40%	11.79%	8.16%
	28	11	44	10	44	14	49	14	50	17	48	13	42
Interest	2	3	2	3	3	3	4	4	4	5	4	5	5
Depreciation	30	30	31	30	26	27	27	26	25	27	28	31	31
Profit before Tax	93	75	105	80	115	93	127	102	134	99	137	110	129
Tax %	10.24%	11.58%	9.43%	2.49%	9.19%	11.00%	6.78%	10.84%	7.17%	11.13%	4.95%	7.47%	7.20%
Net Profit	83	66	95	78	105	82	118	90	124	88	130	102	120
	10.74	8.56	12.25	10.07	13.49	10.61	15.28	11.73	16.21	11.45	17.02	13.23	15.60

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,804	2,181	2,558	2,513	2,452	2,907	3,430	3,614	3,936	4,225	4,311
	1,647	1,969	2,314	2,280	2,204	2,514	3,024	3,223	3,500	3,744	3,856
Operating Profit	157	212	244	233	248	393	407	391	436	481	455
OPM %	8.71%	9.72%	9.55%	9.29%	10.11%	13.51%	11.85%	10.82%	11.08%	11.38%	10.56%
	18	18	27	18	21	29	61	93	121	128	120
Interest	29	31	36	32	25	11	8	11	15	18	19
Depreciation	58	67	75	78	88	108	117	121	106	111	117
Profit before Tax	89	132	160	142	156	303	343	353	436	480	475
Tax %	20.83%	21.14%	20.36%	10.89%	13.72%	11.77%	11.48%	8.54%	9.26%	7.43%	7.43%
Net Profit	70	104	128	126	135	267	304	322	396	444	440
EPS	9.18	13.53	16.62	16.46	17.47	34.48	39.05	41.47	51.68	57.85	—
Dividend Payout %	11.99%	11.81%	10.81%	12.15%	14.30%	17.35%	17.89%	16.88%	15.48%	17.29%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 11%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 22%
5 Years:: 27%
3 Years:: 14%

STOCK PRICE CAGR

10 Years:: 17%
5 Years:: 15%
3 Years:: 3%
1 Year:: -26%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 21%
3 Years:: 20%
Last Year:: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	15	15	15	15	15	15	16	16	15	15
	566	658	815	926	1,058	1,290	1,542	1,820	1,953	2,351
	409	426	452	407	255	70	81	106	147	202
Trade Payables	34	57	65	63	74	73	58	49	188	210
	108	122	173	163	184	183	209	242	317	361
Total Liabilities	1,132	1,278	1,520	1,574	1,587	1,632	1,906	2,232	2,620	3,139
	533	624	706	752	779	779	765	805	870	1,085
Capital Work in Progress	57	56	4	22	5	7	26	109	253	326
	30	31	94	89	86	100	172	436	336	390
	3	3	5	6	7	8	5	11	7	15
	0	0	0	0	0	0	0	530	633	707
Cash & Bank	18	13	12	18	31	58	169	87	67	108
	492	550	699	687	679	679	769	257	454	509
Total Assets	1,132	1,278	1,520	1,574	1,587	1,632	1,906	2,232	2,620	3,139

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	111	189	202	275	298	399	359	316	341	432
Cash from Investing	-117	-130	-148	-135	-96	-73	-185	-365	-106	-345
Cash from Financing	37	-28	-26	-96	-194	-257	-51	-33	-277	-32
	8	-5	-5	4	14	26	105	-82	-41	56

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68.94	68.78	68.74	68.81	68.73	68.73	68.73	68.73	68.66
	2.92	3.01	3.35	3.17	3.18	3.19	3.10	3.03	3.04
	12.18	12.36	12.33	12.39	12.37	12.65	12.81	12.86	12.69
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	15.97	15.84	15.59	15.62	15.71	15.43	15.36	15.37	15.61

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Updates

2026-09-11 - Transport Corporation of India Limited has informed the Exchange regarding 'Intimation with respect to transfer of equity shares under Section 124(6) of the Companies Act, 2013 to the Investor Education and Protection Fund (IEPF) Authority'.

2026-09-11

Copy of Newspaper Publication

2026-09-11 - TCI has informed the Exchange about Submission of newspaper publications of the Notice for proposed transfer of equity shares to the Investor Education and Protection Fund ( IEPF ) Authority

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Transport Corporation of India Limited has informed the Exchange about Transcript for the quarter ended June 30, 2026

2026-08-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-03 - Transport Corporation of India Limited has informed the Exchange about Link of Recording

2026-08-03

Investor Presentation

2026-08-03 - Transport Corporation of India Limited has informed the Exchange about Investor Presentation

2026-07-31

Copy of Newspaper Publication

2026-07-31 - Transport Corporation of India Limited has informed the Exchange about copy of newspaper publication of unaudited financial results (standalone and consolidated) published for the period ended June 30, 2026

2026-07-30

Shareholders meeting

2026-07-30 - Voting Results and Scrutinizer's report of the 31st Annual General Meeting held on July 30, 2026.

2026-07-30

Shareholders meeting

2026-07-30 - Transport Corporation of India Limited has informed the Exchange regarding Summary of the Proceedings of Annual General Meeting held on July 30, 2026

2026-07-30

Press Release

2026-07-30 - Transport Corporation of India Limited has informed the Exchange regarding a press release dated July 30, 2026, on Unaudited Financial Results (Standalone and Consolidated) for the First Quarter Ended on June 30, 2026.

News

Recent coverage and analyst commentary for TCI

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Transport Corporation Of India Ltd.

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Name

CONCOR

505.80

31.02

38522.64

1.70

268.90

0.61

2159.76

0.28

13.63

20.41

DELHIVERY

451.00

361.29

33793.18

0.00

31.91

-64.96

2930.73

27.76

2.97

4.75

SHADOWFAX

255.05

133.96

14964.56

0.00

654.00

6732.86

13581.20

1806.32

11.58

6.76

BLACKBUCK

585.40

63.17

10664.07

0.00

42.17

25.14

204.17

42.17

12.75

24.35

TCI

856.45

14.41

6580.20

1.17

106.60

-0.56

1248.50

9.58

20.52

12.30

TVSSCS

128.95

87.86

5689.58

0.00

22.48

-96.84

3335.22

28.66

11.51

6.75

VRLLOG

231.45

18.87

4048.92

0.00

805.30

1509.31

8788.40

1080.70

26.47

21.23

MAHLOG

399.70

103.12

3968.12

0.63

278.30

3048.09

20028.80

1132.85

10.40

5.76

SINDHUTRAD

23.81

47.44

3671.33

0.00

38.74

-79.39

129.21

-21.85

12.80

45.34

GATEWAY

53.58

10.96

2677.09

6.07

51.27

-17.56

549.30

-0.21

17.99

21.31

TCIEXP

535.25

24.95

2057.72

1.31

20.49

5.24

313.40

9.29

13.92

10.03

ALLCARGO

12.29

61.36

1840.77

0.00

140.00

241.47

5460.00

43.06

8.70

13.00

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

860

900

954

939

998

994

1,004

984

1,048

1,065

1,128

1,070

763

803

806

851

839

889

884

888

871

935

943

995

982

Operating Profit

103

100

109

110

117

113

114

121

133

OPM %

11.25%

10.75%

10.45%

10.84%

10.67%

10.95%

11.05%

11.64%

11.49%

10.83%

11.40%

11.79%

8.16%

Interest

Depreciation

Profit before Tax

105

115

127

102

134

137

110

129

Tax %

10.24%

11.58%

9.43%

2.49%

9.19%

11.00%

6.78%

10.84%

7.17%

11.13%

4.95%

7.47%

7.20%

Net Profit

105

118

124

130

102

120

10.74

8.56

12.25

10.07

13.49

10.61

15.28

11.73

16.21

11.45

17.02

13.23

15.60

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,804

2,181

2,558

2,513

2,452

2,907

3,430

3,614

3,936

4,225

4,311

1,647

1,969

2,314

2,280

2,204

2,514

3,024

3,223

3,500

3,744

3,856

Operating Profit

157

212

244

233

248

393

407

391

436

481

455

OPM %

8.71%

9.72%

9.55%

9.29%

10.11%

13.51%

11.85%

10.82%

11.08%

11.38%

10.56%

121

128

120

Interest

Depreciation

108

117

121

106

111

117

Profit before Tax

132

160

142

156

303

343

353

436

480

475

Tax %

20.83%

21.14%

20.36%

10.89%

13.72%

11.77%

11.48%

8.54%

9.26%

7.43%

Net Profit

104

128

126

135

267

304

322

396

444

440

EPS

9.18

13.53

16.62

16.46

17.47

34.48

39.05

41.47

51.68

57.85

—

Dividend Payout %

11.99%

11.81%

10.81%

12.15%

14.30%

17.35%

17.89%

16.88%

15.48%

17.29%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

566

658

815

926

1,058

1,290

1,542

1,820

1,953

2,351

409

426

452

407

255

106

147

202

Trade Payables

188

210

108

122

173

163

184

183

209

242

317

361

Total Liabilities

1,132

1,278

1,520

1,574

1,587

1,632

1,906

2,232

2,620

3,139

533

624

706

752

779

765

805

870

1,085

Capital Work in Progress

109

253

326

100

172

436

336

390

530

633

707

Cash & Bank

169

108

492

550

699

687

679

769

257

454

509

Total Assets

1,132

1,278

1,520

1,574

1,587

1,632

1,906

2,232

2,620

3,139

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

111

189

202

275

298

399

359

316

341

432

Cash from Investing

-117

-130

-148

-135

-96

-73

-185

-365

-106

-345

Cash from Financing

-28

-26

-96

-194

-257

-51

-33

-277

-32

-5

105

-82

-41

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

68.94

68.78

68.74

68.81

68.73

68.66

2.92

3.01

3.35

3.17

3.18

3.19

3.10

3.03

3.04

12.18

12.36

12.33

12.39

12.37

12.65

12.81

12.86

12.69

Government

0.00

15.97

15.84

15.59

15.62

15.71

15.43

15.36

15.37

15.61

Transport Corporation Of India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Transport Corporation Of India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI