TCI
Transport Corporation of India share price & financials
- Price
- ₹930.85
- Market cap
- ₹6.7k Cr
- Sector
- Services
- Calls analysed
- 5
Transport Corporation of India Limited Q1 FY27
What went well
- Console top line grew ~9% (24th consecutive quarter of growth).
- Freight business top line grew ~10-11%.
- Cold Chain business grew ~48%.
What to watch
- Standalone PAT slightly negative in Q1.
- Seaways margins compressed due to fluctuating bunker prices.
What Transport Corporation of India Limited does
Transport Corporation of India (TCI) is an integrated multimodal logistics and supply chain company operating three divisions: Freight (surface transport - FTL, LTL, over-dimensional and project cargo), Supply Chain Solutions (contract logistics, warehousing and distribution management) and Seaways (coastal and multimodal shipping). It moves cargo by road, rail and coastal sea routes through owned trucks, reefer vehicles, rail rakes/trains and a fleet of multipurpose vessels, and manages customer warehousing and yard/terminal infrastructure on a single-window basis. Group joint ventures extend the model into rail-linked multimodal logistics (TCI Concor, with CONCOR), temperature-controlled cold chain (TCI Cold Chain, with Mitsui & Co.) and Japanese-OEM automotive logistics (Transystem, with Mitsui & Co.), while wholly owned units serve cross-border trade into Bangladesh, Nepal and the Middle East.
Segments
- Freight Division
- Supply Chain Division
- Seaways Division
- Trucks in operation
- 10,000+
- Managed warehousing space
- 16.5 Mn sq. ft.
- Domestic coastal ships operated
- 6
- Total ship capacity
- 77,957 DWT
- Major ports served
- 7 of 12
- Marine (ISO) containers owned
- 8,500+
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 3 delivered 3 missed 10 open- Freight Business Performance delivered said Q3 FY26 Promised: Things should start looking up in 1-2 quarters Q1 FY27: Freight business top line grew ~10-11%, confirming the revival.
- Consolidated Top Line Growth missed said Q4 FY25 Promised: 10 to 12% growth on the top line Q1 FY27: FY26 promise, not discussed in the current quarter.
- New Ship Delivery on track said Q4 FY25 Promised: Two new ships to come, adding capacity Q1 FY27: The new ship is expected in September end of this year... and again October-November for the second ship.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 8.7%, net profit down 3.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 998 | 994 | 1,004 | 984 | 1,048 +5% | 1,065 +7% | 1,128 +12% | 1,070 +9% |
| EBITDA | 109 | 110 | 117 | 113 | 114 +5% | 121 +10% | 133 +14% | 124 +10% |
| Net profit | 82 | 118 | 90 | 124 | 88 +7% | 130 +10% | 102 +13% | 120 −3% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.8% 1Y
1Y: ₹1,173.8 on 10 Sept 2025 → ₹858.85. High ₹1,227.6 (29 Oct 2025), low ₹856.9 (10 Sept 2026).
How the price took the results
close before → close after
- Q1 FY27
- −1.7%
- 3 Aug
- Q4 FY26
- +0.5%
- 27 May
- Q3 FY26
- −2.6%
- 5 Feb
- Q2 FY26
- −1.9%
- 30 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.8% a year over 3 years, FY23 to FY26. Operating margin held at 11.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.8k Cr | ₹3.6k Cr | ₹3.9k Cr | ₹4.2k Cr |
| Operating profit | ₹423 Cr | ₹391 Cr | ₹436 Cr | ₹481 Cr |
| Operating margin | 11.2% | 10.8% | 11.1% | 11.4% |
| Interest | ₹10 Cr | ₹10 Cr | ₹14 Cr | ₹18 Cr |
| Depreciation | ₹121 Cr | ₹121 Cr | ₹106 Cr | ₹111 Cr |
| Net profit | ₹320 Cr | ₹323 Cr | ₹395 Cr | ₹444 Cr |
| Net margin | 8.5% | 8.9% | 10.0% | 10.5% |
| Cash from operations | ₹341 Cr | ₹316 Cr | ₹341 Cr | ₹432 Cr |
| Free cash flow | ₹196 Cr | ₹112 Cr | ₹49 Cr | ₹53 Cr |
| ROCE | 23.0% | 20.0% | 22.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹15 Cr | ₹15 Cr | ₹16 Cr | ₹16 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹1.1k Cr | ₹1.3k Cr | ₹1.6k Cr | ₹1.8k Cr | ₹2.4k Cr | ₹2.4k Cr |
| Borrowings | ₹262 Cr | ₹76 Cr | ₹85 Cr | ₹132 Cr | ₹253 Cr | ₹252 Cr |
| Other liabilities | ₹244 Cr | ₹242 Cr | ₹253 Cr | ₹254 Cr | ₹434 Cr | ₹507 Cr |
| Total liabilities | ₹1.6k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.2k Cr | ₹3.1k Cr | ₹3.1k Cr |
| Fixed assets | ₹779 Cr | ₹779 Cr | ₹765 Cr | ₹805 Cr | ₹1.1k Cr | ₹1.1k Cr |
| Capital work in progress | ₹5 Cr | ₹7 Cr | ₹26 Cr | ₹109 Cr | ₹268 Cr | ₹326 Cr |
| Investments | ₹86 Cr | ₹100 Cr | ₹172 Cr | ₹436 Cr | ₹492 Cr | ₹390 Cr |
| Other assets | ₹717 Cr | ₹746 Cr | ₹943 Cr | ₹884 Cr | ₹1.2k Cr | ₹1.3k Cr |
| Total assets | ₹1.6k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹2.2k Cr | ₹3.1k Cr | ₹3.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +0.32 pp while FIIs trimmed −0.14 pp. The shareholder count shrank 5% to 48,535.
- Promoters
- 68.7%
- FIIs
- 3.0%
- DIIs
- 12.7%
- Public
- 15.6%
Since Jun 2025
- DIIs +0.32 pp
- FIIs −0.14 pp
- Public −0.10 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 69.0%, FIIs 2.6%, DIIs 12.9%, Public 15.6%.Dec '23: Promoters 68.9%, FIIs 2.6%, DIIs 12.8%, Public 15.7%.Mar '24: Promoters 68.9%, FIIs 2.7%, DIIs 12.2%, Public 16.2%.Jun '24: Promoters 68.9%, FIIs 2.9%, DIIs 12.2%, Public 16.0%.Sep '24: Promoters 68.8%, FIIs 3.0%, DIIs 12.4%, Public 15.8%.Dec '24: Promoters 68.7%, FIIs 3.4%, DIIs 12.3%, Public 15.6%.Mar '25: Promoters 68.8%, FIIs 3.2%, DIIs 12.4%, Public 15.6%.Jun '25: Promoters 68.7%, FIIs 3.2%, DIIs 12.4%, Public 15.7%.Sep '25: Promoters 68.7%, FIIs 3.2%, DIIs 12.7%, Public 15.4%.Dec '25: Promoters 68.7%, FIIs 3.1%, DIIs 12.8%, Public 15.4%.Mar '26: Promoters 68.7%, FIIs 3.0%, DIIs 12.9%, Public 15.4%.Jun '26: Promoters 68.7%, FIIs 3.0%, DIIs 12.7%, Public 15.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Tata Multicap Fund Mutual fund newly disclosed 1.45% held
- Tci Express Limited newly disclosed 0.00% held
- Tciex Skills Tech Private Limited newly disclosed 0.00% held
- Omai Tech Private Limited newly disclosed 0.00% held
- Tci Express Consolidated Limited newly disclosed 0.00% held
- Tci Express Ai_5Pl Private Limited newly disclosed 0.00% held
- Gloxinia Farms Private Limited newly disclosed 0.00% held
- Tci Institute Of Logistics newly disclosed 0.00% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Transport Corporation of India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bhoruka Supply Chain Solutions Holdings Limited | 44.08% | −0.05 pp |
| HDFC Multi-Asset Allocation Fund Mutual fund | 8.82% | unchanged |
| Dharmpal Agarwal - Tci Trading | 6.35% | unchanged |
| Vineet Agarwal | 3.88% | unchanged |
| Dharam Pal Agarwal | 2.60% | unchanged |
| Urmila Agarwal | 2.36% | unchanged |
| Chander Agarwal | 2.34% | unchanged |
| Priyanka Agarwal | 2.16% | unchanged |
| Investor Education And Protection Fund Authority M | 1.52% | unchanged |
| Tata Multicap Fund Mutual fund | 1.45% | newly disclosed |
| Vihaan Agarwal | 1.29% | unchanged |
| NAV Agarwal | 1.29% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in TCI
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹617 Cr
- 4 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹444 Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹444 Cr | held | Dec '22 |
| HDFC Children's Fund HDFC Mutual Fund | ₹99 Cr | held | Nov '24 |
| HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund | ₹63 Cr | held | Dec '22 |
| HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund | ₹10 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +24%
- vs est. average cost
- Held by funds
- ₹617 Cr
- 4 schemes · ≈ 9.2% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹444 Cr · 1.1% of that fund
Shares held by these funds +27%
Aug '23 66.26 L shares Jul '26
What the price assumes
- Growth the price implies
- A decline
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Transport Corporation of India Limited
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