TCIEXPServices

TCI Express Limited

Logistics Solution Provider · ISIN INE586V01016 · BSE 540212 · NSE EQ · FV ₹2
Last price
₹491
+0.34%today
What this company does

TCI Express Limited operates in Logistics Solution Provider, part of the Services sector. It booked ₹313 cr of revenue in its latest quarter (Q1 FY27) and kept 6.5% of sales as profit.

Logistics, a sector underpinning a smooth and seamless movement X FACTOR: of critical business resources across destinations, has experienced the full force of these changes.
In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Services, on all six measures of filed financials. Each measure is ranked against the 50–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
27

At close. Not part of the score.

Profitability & returns54

How much profit it earns on the money it employs

Balance sheet83

How much it owes, and whether earnings cover the interest

Cash quality65

Whether reported profit actually arrives as cash

Growth & consistency39

Whether sales and profit have grown, and how steadily

Valuation46

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 9% vs last year
Profit up 5% vs last year
Promoters hold 69%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 6.5% net margin

What if I invest in TCIEXP?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹491 +0.34%
latest close · 2026-09-17
1-year return
-65.3%
52-wk low ₹48052-wk high ₹2,572
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio23.6Average
LowAverageHigh
P/B ratio2.30Moderate
Below bookModerateHigh
EV / EBITDA13.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.0%Fair
WeakFairStrong ▸15%
Return on capital12.8%Fair
WeakFairStrong
Net margin6.5%Decent
ThinDecentStrong
EBITDA margin11.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.04Comfortable
LowModerateHigh ▸1
Interest cover36.4×Strong
RiskyOkayStrong ▸5×
Current ratio3.12Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,884 cr
Book value
₹213
EPS
₹5.20
latest quarter
Net debt
₹17 cr
owes more than its cash
Enterprise value
₹1,902 cr
EBITDA
₹142 cr
annualised
EBIT
₹114 cr
annualised
Operating margin
9.1%
Return on assets
8.0%
Earnings yield
4.24%
P/S
1.50
Sales / share
₹326.5
Tax rate
25.9%
Face value
₹2
Shares
3.8 cr
Working capital
₹285 cr
Current assets
₹420 cr
Current liabilities
₹135 cr
Delivery %
55.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹113₹198, midpoint ₹155

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹313 cr
Other Income₹4 cr
Total Income₹317 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹38 cr
Finance Costs₹78 L
Depreciation & Amortisation₹7 cr
Other Expenses₹244 cr
Total Expenses₹290 cr
Profit before Tax₹28 cr
Tax Expense₹7 cr
Net Profit₹20 cr
Net margin on total income6.5%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹38 cr12.0%
Finance costs₹78 L0.2%
Depreciation & amortisation₹7 cr2.2%
Other expenses₹244 cr76.8%
Tax expense₹7 cr2.3%
Profit for the period₹20 cr6.5%
Total income ₹317 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue314 cr328 cr313 cr
Total income318 cr332 cr317 cr
Expenses288 cr307 cr290 cr
Profit before tax30 cr23 cr28 cr
Tax8 cr6 cr7 cr
Net profit (owners' share)22 cr16 cr20 cr
Net margin (owners' share, on revenue)7.0%4.9%6.5%
EPS (₹)5.744.775.20
YoY (latest quarter): total income +9.3% · net profit +5.2%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹1,025 cr
Shareholder equity
₹819 cr
parent shareholders
Total debt
₹33 cr
Cash
₹16 cr
Cash flow · H1 FY26
Operating
₹21 cr
Investing
₹12 cr
Financing
₹-1 cr
Peer comparison
Logistics Solution Provider · by market value
CompanyPriceMarket capP/E
Container Corporation of India Limited₹488₹37,178 cr34.6
Delhivery Limited₹426₹31,897 cr247.6
Shadowfax Technologies Limited₹252₹14,724 cr56.7
Blue Dart Express Limited₹4,811₹11,417 cr32.3
Shiprocket Limited₹121₹7,694 cr
Transport Corporation of India Limited₹827₹6,364 cr15.0
TVS Supply Chain Solutions Limited₹130₹5,743 cr69.2
VRL Logistics Limited₹288₹5,037 cr15.6
Mahindra Logistics Limited₹390₹3,865 cr38.0
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.43%
trailing 12 months
Dividend / share (TTM)
₹7
Last dividend
₹7
ex 6 Feb 2026
ActionDetailEx-date
Dividend₹7 / share6 Feb 2026
Dividend₹2 / share16 Jul 2025
Dividend₹3 / share12 Feb 2025
Dividend₹3 / share8 Nov 2024
Dividend₹2 / share6 Aug 2024
Dividend₹3 / share20 Feb 2024
Who owns it · 2026-06-30
No pledge
Promoter
69.5%
FII / Foreign
0.8%
DII / Domestic
8.9%
Retail / others
20.9%
Promoter stake down 0.2% over the last 12 quarters.
Smart-money activity
Insider trades
SoldNoratmal Sarva · -1,000 · ₹14.0 L23 Aug 21
SoldSunil Kumar Rai · -1,000 · ₹14.0 L23 Aug 21
SoldPIUSH CHACHAN · Employees/Designated Employees923 · ₹13.0 L13 Aug 21
Bulk / block deals
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE2.79 L @ ₹605.0124 Jun 26
BoughtNK SECURITIES RESEARCH PRIVATE LIMITED · NSE2.79 L @ ₹604.4624 Jun 26
short · NSE2127 Sep 24
Stake changes
BothTCI Trading (Dharmpal Agarwal) · promoter→ 5.85% · 16,00027 Aug 26
BothTCI Express Consolidated Limited · promoter→ 44.99% · 16,00027 Aug 26
BothTCI Express Consolidated ltd · promoter→ 44.98% · 52,00014 Aug 26
What shareholders were asked to approve
5 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Jul 2025
See the official result
1
To receive, consider and adopt the Audited Financial Statements (Standalone and consolidated Financial Statements) for the financial year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary Resolution
Backed by 100% of shareholders other than promotersneeded 50%
39.21 L votes for, 6 against · 0% of mutual funds and other big investors said no
2
To declare final dividend on equity shares of the Company, for the financial year ended March 31, 2025, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary Resolution
Backed by 100% of shareholders other than promotersneeded 50%
39.21 L votes for, 6 against · 0% of mutual funds and other big investors said no
3
To appoint Director in place of Mr. Dharmpal Agarwal (DIN: 00084105), who will attain the age of seventy-five years and who retires by rotation and being eligible, offers himself for re-appointment, and in this regard, to consider and if thought fit, to pass the following Resolution as Special Resolution
Promoters had a personal stake in this
Backed by 97% of shareholders other than promotersneeded 75%
38.04 L votes for, 1.17 L against · 3% of mutual funds and other big investors said no
4
Appointment of M/s. Brahmayya & Co., as the Statutory Auditors of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary Resolution
⚑ Passed only because promoters voted yes
Backed by 13% of shareholders other than promotersneeded 50%
4.97 L votes for, 34.25 L against · 89% of mutual funds and other big investors said no
6
Change in designation and appointment of Mr. Phool Chand Sharma, currently serving as a Non-Executive Director, as an Independent Director of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special Resolution
⚑ Passed only because promoters voted yes
Backed by 10% of shareholders other than promotersneeded 75%
3.80 L votes for, 35.41 L against · 92% of mutual funds and other big investors said no
7
Appointment of Mr. Mukti Lal, currently serving as Chief Financial Officer, as an Executive Director and Chief Financial Officer (‘CFO’) of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special Resolution
⚑ Passed only because promoters voted yes
Backed by 39% of shareholders other than promotersneeded 75%
15.21 L votes for, 23.87 L against · 62% of mutual funds and other big investors said no
8
Re-pricing of stock options granted to the employees of the Company, under ‘Employee Stock Option Plan-2016’ and extending vesting and exercise period of the same, and in this regard, to consider and if thought fit, to pass the following Resolution as Special Resolution
⚑ Passed only because promoters voted yes
Backed by 9% of shareholders other than promotersneeded 75%
3.30 L votes for, 35.45 L against · 92% of mutual funds and other big investors said no
9
Amendment to the Employee Stock Option Plan-2016 by extending vesting and exercise period of stock options to be granted by the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special Resolution
⚑ Passed only because promoters voted yes
Backed by 37% of shareholders other than promotersneeded 75%
14.26 L votes for, 24.49 L against · 64% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 14 named members
owning 69.5% between them · as of 2026-06-30
TCI EXPRESS CONSOLIDATED LIMITED44.48%
TCI TRADING (DHARMPAL AGARWAL)6.40%
VINEET AGARWAL5.22%
DHARAM PAL AGARWAL (HUF)2.65%
URMILA AGARWAL2.41%
CHANDER AGARWAL2.39%
PRIYANKA AGARWAL2.27%
DHARMPAL AGARWAL1.09%
Business done with them
FY2026 · 3 of the group
The company paid ₹12 cr to companies in the promoter group last year — about 0.9% of its ₹1,237 cr revenue.
CHANDER AGARWAL
Other payments to them · Rental Expense, Shipping expenses, Short employee benefits (including commission), Post employment benefits
also owns 2.39% of the company
₹12 cr
company paid
CHANDER AGARWAL
Leases As Lessee · Rental Expense, Shipping expenses, Short employee benefits (including commission), Post employment benefits
also owns 2.39% of the company
₹10 L
company received
DHARMPAL AGARWAL
Other payments to them · Commission
also owns 1.09% of the company
₹6 L
company paid
VINEET AGARWAL
Other payments to them · Commission
also owns 5.22% of the company
₹6 L
company paid

The company also transacted with 26 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.