TVS Supply Chain Solutions Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • ISCS: 74.9% • Global Forwarding Solutions: 25.1%
AI Sector View
AI GENERATEDServices
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.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 31.13x)
- Working capital cycle has improved - days down from 9 to 3
- Company generates healthy free cash flow
- Company converts assets efficiently - asset turnover of 1.7x
CONS
- Recent results are weak - TTM profit is down 91.2% versus prior year
- Company has a low return on equity of 0.3% over last 3 years
- A large part of profit comes from other income (30.7% of PBT)
- Company has a low return on capital employed of 8.5%
- Equity base is being diluted - shares outstanding up 21.2%
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 499.80 | 30.65 | 38065.66 | 1.72 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 438.60 | 351.36 | 32864.05 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 253.25 | 133.05 | 14862.94 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 629.05 | 67.88 | 11459.23 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 859.95 | 14.47 | 6607.09 | 1.16 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 130.35 | 88.81 | 5751.35 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.88 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 396.65 | 102.33 | 3937.84 | 0.63 | 278.30 | 3048.09 | 20028.80 | 1132.85 | 10.40 | 5.76 |
| SINDHUTRAD | 24.08 | 47.98 | 3712.96 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.34 | 10.91 | 2665.10 | 6.09 | 51.27 | -17.56 | 549.30 | -0.21 | 17.99 | 21.31 |
| TCIEXP | 513.50 | 23.94 | 1974.11 | 1.36 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| ALLCARGO | 12.15 | 60.66 | 1819.80 | 0.00 | 140.00 | 241.47 | 5460.00 | 43.06 | 8.70 | 13.00 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,289 | 2,263 | 2,222 | 2,426 | 2,539 | 2,513 | 2,445 | 2,499 | 2,592 | 2,663 | 2,716 | 3,032 | 3,335 | |
| 2,118 | 2,078 | 2,060 | 2,261 | 2,358 | 2,337 | 2,295 | 2,330 | 2,420 | 2,485 | 2,518 | 2,814 | 3,317 | |
| Operating Profit | 170 | 185 | 162 | 165 | 181 | 176 | 150 | 169 | 172 | 177 | 198 | 218 | 18 |
| OPM % | 7.45% | 8.18% | 7.29% | 6.82% | 7.13% | 7.00% | 6.13% | 6.76% | 6.63% | 6.66% | 7.30% | 7.20% | 0.54% |
| -5 | 5 | 22 | 14 | 6 | 22 | 7 | 13 | -77 | 16 | 5 | 5 | 14 | |
| Interest | 63 | 57 | 44 | 38 | 40 | 41 | 39 | 37 | 38 | 33 | 42 | 45 | 45 |
| Depreciation | 137 | 142 | 140 | 139 | 135 | 140 | 136 | 133 | 130 | 137 | 147 | 156 | 161 |
| Profit before Tax | -35 | -9 | -0 | 3 | 13 | 17 | -18 | 12 | -74 | 22 | 15 | 23 | 32 |
| Tax % | -50.00% | -161.46% | 46950.00% | -14.33% | 49.29% | 42.00% | -48.45% | 140.32% | -43.80% | 31.27% | 32.22% | 32.12% | 30.03% |
| Net Profit | 0 | 0 | 0 | 0 | 7 | 11 | -24 | -4 | 712 | 16 | 11 | 18 | 22 |
| -1.32 | -0.74 | 0.22 | 0.10 | 0.15 | 0.21 | -0.56 | -0.11 | 1.60 | 0.35 | 0.24 | 0.40 | 0.47 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,032 | 5,342 | 6,780 | 6,605 | 6,934 | 9,250 | 9,994 | 9,200 | 9,996 | 11,003 | 11,746 | |
| 4,819 | 5,147 | 6,254 | 6,356 | 6,540 | 8,632 | 9,325 | 8,497 | 9,323 | 10,227 | 11,134 | |
| Operating Profit | 213 | 195 | 526 | 249 | 394 | 617 | 670 | 703 | 673 | 776 | 612 |
| OPM % | 4.24% | 3.65% | 7.76% | 3.77% | 5.68% | 6.67% | 6.70% | 7.64% | 6.73% | 7.05% | 5.21% |
| 22 | 48 | 61 | 188 | 116 | 15 | 66 | 23 | 58 | -54 | 40 | |
| Interest | 75 | 55 | 146 | 237 | 182 | 160 | 193 | 210 | 164 | 165 | 165 |
| Depreciation | 73 | 88 | 418 | 445 | 443 | 461 | 502 | 557 | 544 | 570 | 601 |
| Profit before Tax | 88 | 103 | 25 | -242 | -116 | 14 | 46 | -36 | 29 | 168 | 92 |
| Tax % | 47.22% | 51.79% | 160.97% | -2.58% | 36.52% | 431.28% | -3.70% | -60.02% | 132.83% | 30.55% | 31.20% |
| Net Profit | 47 | 50 | -15 | -248 | -74 | -45 | 48 | -58 | -10 | 117 | 64 |
| EPS | 15.05 | 15.88 | -4.25 | -60.13 | -2.26 | -1.44 | 1.02 | -2.30 | -0.31 | 2.59 | — |
| Dividend Payout % | 3.29% | 7.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 10%
- 3 Years:
- 3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- —
- 3 Years:
- 42%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -17%
- 1 Year:
- -3%
RETURN ON EQUITY
- 10 Years:
- -4%
- 5 Years:
- 0%
- 3 Years:
- 0%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 32 | 32 | 32 | 32 | 32 | 36 | 36 | 44 | 44 | 44 | |
| Minority Interest | 74 | 61 | 40 | 80 | 40 | 40 | 36 | 30 | 34 | 29 |
| 526 | 592 | 583 | 461 | 418 | 644 | 632 | 1,735 | 1,737 | 1,969 | |
| 902 | 1,159 | 2,133 | 3,141 | 2,410 | 2,472 | 2,995 | 1,787 | 1,760 | 2,305 | |
| Trade Payables | 715 | 1,033 | 968 | 1,013 | 1,154 | 1,453 | 1,427 | 1,368 | 1,411 | 1,788 |
| 358 | 396 | 838 | 651 | 813 | 1,009 | 959 | 716 | 616 | 883 | |
| Total Liabilities | 2,607 | 3,273 | 4,594 | 5,377 | 4,866 | 5,654 | 6,087 | 5,679 | 5,601 | 7,017 |
| 625 | 902 | 2,025 | 2,034 | 1,987 | 2,141 | 2,296 | 2,350 | 2,165 | 2,859 | |
| Capital Work in Progress | 12 | 3 | 13 | 8 | 7 | 3 | 14 | 3 | 74 | 8 |
| 55 | 53 | 60 | 50 | 112 | 100 | 105 | 93 | 98 | 280 | |
| 107 | 134 | 166 | 170 | 228 | 292 | 345 | 387 | 381 | 533 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,403 | 1,440 | 1,644 | |
| Cash & Bank | 444 | 383 | 499 | 1,147 | 566 | 1,005 | 1,172 | 597 | 612 | 724 |
| 1,364 | 1,799 | 1,831 | 1,968 | 1,966 | 2,113 | 2,155 | 847 | 830 | 966 | |
| Total Assets | 2,607 | 3,273 | 4,594 | 5,377 | 4,866 | 5,654 | 6,087 | 5,679 | 5,601 | 7,017 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 151 | 100 | 428 | 246 | 715 | 637 | 818 | 151 | 672 | 746 | |
| Cash from Investing | -166 | -78 | -235 | -363 | 63 | -381 | -233 | -122 | -147 | -292 |
| Cash from Financing | 331 | -77 | -17 | 557 | -1,167 | 217 | -419 | -592 | -495 | -449 |
| 275 | -86 | 120 | 384 | -392 | 458 | 81 | -586 | 30 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - TVS Supply Chain Solutions Limited has informed the Exchange about Schedule of Institutional Investor meet to be held on 11th September, 2026
2026-08-24 - TVS Supply Chain Solutions Limited has informed the Exchange regarding press release dated August 24, 2026.
2026-08-21 - TVS Supply Chain Solutions Limited has informed the Exchange regarding Unaudited Standalone and Consolidated Financial Results in Machine Readable Format For the quarter ended June 30,2026.
2026-08-17 - TVS Supply Chain Solutions Limited has informed the Exchange about Transcript
2026-08-11 - TVS Supply Chain Solutions Limited has informed the Exchange about Copy of Newspaper Publication of the Unaudited Standalone and Consolidated Financial Results for the Quarter Ended June 30,2026
2026-08-11 - TVS Supply Chain Solutions Limited has informed the Exchange about Link of Audio Recording
2026-08-10 - Tvs Supply Chain Solutions Limited has informed the Exchange about Investor Presentation
2026-08-10 - TVS Supply Chain Solutions Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Press Release for Unaudited Standalone and Consolidated for the quarter ended June 30,2026".
2026-08-10 - TVS Supply Chain Solutions Limited has submitted to the Exchange, the financial results for the period ended June 30, 2026.
News
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