As of 6 Nov 2026, TCI Express trades at 22.3× trailing earnings, above the industry P/E of 16.1×, and the shares are 24% below their 52-week high. Sales and net profit fell 0.1% and 16% a year over 3 years, with ROCE of 13% and ROE of 10%. It carries very little debt, and its dividend yield is 1.4%. It is a small-cap company with a market cap of ₹1,877 Cr, ranked 9th of 43 Integrated Freight & Logistics companies by market cap; the shares fell 27% over the past year.
- ₹500.00
- ₹500.00
- ₹480.00
- ₹501.20
- 22.3K
Health check
- ReturnsBehind
−27.4% over a year, better than 1 of 7 peers.
- Price tagPricier
P/E 22.3 vs industry 16.1.
- GrowthShrinking
Sales −0.1%, profit −16.4% a year over 3 years.
- ProfitabilityAverage
ROCE 12.6% vs peer median 9.0%.
- Balance sheetStretched
Debt 0.08× equity, interest covered 59.4×, Piotroski 3 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,877 Cr
- Small cap
- P/E
- 22.3
- Industry 16.1
- Price to book
- 2.29
- Peers 3.34
- Dividend yield
- 1.40%
- ROE
- 10.3%
- Peers 9.6%
- ROCE
- 12.6%
- Peers 9.0%
- Debt to equity
- 0.08
- Debt ₹63 Cr
- EPS (TTM)
- ₹21.88
- Face value ₹2
- OPM (TTM)
- 8.0%
- Net margin 6.5%
- Sales growth
- +9.3%
- Latest quarter vs a year ago
- Profit growth
- +5.2%
- Latest quarter vs a year ago
- Price to sales
- 1.48
- EV/EBITDA 15.2
Strengths and risks
Strengths
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
About TCI Express
TCI Express Limited provides express delivery solutions in India and internationally. It provides surface express; domestic and international air express; e-commerce express; C2C express; rail express; and cold chain express services. The company serves pharmaceuticals and cold chain, defense and aerospace, engineering, automobile and component, consumer durables, SME, textile and lifestyle, solar and electric vehicles, and Home improvement and lifestyle…
- Headquarters
- Gurugram
- Employees
- 2,441
- Sector
- Industrials
- ISIN
- INE586V01016
- Website
- tciexpress.in
Price range
- Avg volume (3M)
- 1.4 L
- 1-year return
- minus 27.4%
- From 52-week high
- minus 24.3%
Analyst consensus
Peers · Integrated Freight & Logistics
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DELHIVERYDelhivery | 428.00 | minus 0.48% | 32,080 | 176.9 | 3.28 | 2.6% | 1.9% | 0.1% | 13.2% | – | 0.00% | minus 11.3% |
| SHADOWFAXShadowfax Technologies | 288.25 | minus 0.88% | 16,971 | 67.3 | 8.95 | – | 17.4% | 6.2% | 43.7% | – | 0.00% | plus 162.1% |
| BLUEDARTBlue Dart Express | 4,541.30 | minus 0.76% | 10,776 | 34.8 | 6.06 | 16.9% | 14.8% | 6.7% | 5.9% | −12.6% | 0.55% | minus 28.2% |
| TCITransport Corporation of India | 861.45 | minus 1.38% | 6,485 | 14.4 | 2.37 | 18.1% | 17.7% | 7.6% | 9.1% | 12.9% | 1.16% | minus 26.1% |
| LEAPINDLEAP India | 121.97 | plus 0.05% | 5,373 | 71.7 | 3.34 | 9.0% | 9.6% | 22.9% | 42.4% | 90.5% | 0.00% | minus 15.8% |
| TVSSCSTVS Supply Chain Solutions | 117.07 | minus 1.62% | 5,174 | 80.2 | 2.54 | 9.0% | 6.0% | 2.3% | 3.3% | 42.1% | 0.00% | minus 8.2% |
| MAHLOGMahindra Logistics | 421.10 | plus 0.10% | 4,181 | 55.8 | 3.48 | – | 7.1% | 2.3% | – | – | 0.59% | plus 22.2% |
| TCIEXPTCI Express | 488.20 | minus 2.59% | 1,877 | 22.3 | 2.29 | 12.6% | 10.3% | 7.8% | −0.1% | −16.4% | 1.40% | minus 27.4% |
| Median of 7 peers | – | −0.76% | 6,485 | 67.3 | 3.34 | 9.0% | 9.6% | 6.2% | 11.2% | 27.5% | 0.00% | −11.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 287 | 309 | 314 | 328 | 313 | |
| 264 | 280 | 288 | 306 | 289 | |
| 22.8 | 28.1 | 26.4 | 22.2 | 24.4 | |
| 7.9% | 9.1% | 8.4% | 6.8% | 7.8% | |
| 3.8 | 4.2 | 3.5 | 3.8 | 4 | |
| 0.3 | 0.4 | 0.3 | 1.2 | 0.8 | |
| – | – | – | −2.3 | – | |
| 26.3 | 32 | 29.6 | 22.5 | 27.6 | |
| 25.9% | 25.2% | 25.6% | 28.8% | 25.9% | |
| 19.5 | 23.9 | 22 | 16 | 20.5 | |
| 5.12 | 6.21 | 5.72 | 4.76 | 5.19 |
Profit & loss
- Sales CAGR 3Y
- −0.1%
- Profit CAGR 3Y
- −16.4%
- EPS CAGR 3Y
- −16.4%
- ROE
- 10.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,241 | 1,254 | 1,208 | 1,237 | |
| – | +1.0% | minus 3.6% | +2.4% | |
| 1,044 | 1,063 | 1,080 | 1,106 | |
| 197 | 190 | 128 | 131 | |
| 15.9% | 15.2% | 10.6% | 10.6% | |
| 4.6 | 3.9 | 7.4 | 11.6 | |
| 1.5 | 1.2 | 1 | 1.9 | |
| 15.6 | 19 | 21.9 | 25.7 | |
| −0.4 | −0.2 | 2.9 | −5 | |
| 185 | 174 | 115 | 110 | |
| 24.5% | 24.3% | 25.5% | 26.2% | |
| 139 | 132 | 85.8 | 81.4 | |
| – | minus 5.5% | minus 34.8% | minus 5.1% | |
| 36.20 | 34.27 | 22.31 | 21.16 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7.7 | 7.7 | 7.7 | 7.7 | |
| 589 | 696 | 757 | 811 | |
| 7.1 | 10.5 | 9.9 | 63.4 | |
| 132 | 136 | 144 | 143 | |
| 735 | 850 | 919 | 1,025 | |
| 432 | 463 | 478 | 591 | |
| 61.1 | 16.1 | 20.3 | 45.5 | |
| 0.4 | 0.5 | 10.1 | 12.1 | |
| 46 | 107 | 155 | 137 | |
| 195 | 264 | 256 | 239 | |
| 735 | 850 | 919 | 1,025 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 147 | 136 | 118 | 101 | |
| −64.7 | −105 | −91.5 | −88.9 | |
| −83.7 | −27.8 | −32.2 | −8.1 | |
| −1.9 | 3.2 | −5.3 | 4.4 | |
| −126 | −52.2 | −50.6 | −125 | |
| 20.8 | 83.9 | 67.8 | −23.9 | |
| −30.8 | −30.7 | −30.7 | −34.6 |
Shareholding pattern
- Promoters69.42%
- Public30.58%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 69.42% | 30.58% | minus 0.04 | |
| 30 Jun 2026 | 69.46% | 30.54% | 0.00 | |
| 31 Mar 2026 | 69.46% | 30.54% | 0.00 | |
| 31 Dec 2025 | 69.46% | 30.54% | 0.00 | |
| 30 Sep 2025 | 69.46% | 30.54% | – |
Major shareholders
Filings & events
News
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