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Transport Corporation of India
SectorServices
In the news
TCI approves ₹150 cr share buyback at ₹960/share, China expansion
TCI board approves ₹150 cr buyback at ₹960/share, shares gain 1.5%
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Motilal Oswal Maintains Buy Ratings on TRPC, Raymond Lifestyle
TCI Q1 profit flat at ₹107 crore despite 12.5% EBITDA growth
TCI plans ₹550-600 cr capex for coastal shipping expansion
Transport Corp Q4 PAT rises 8% to ₹125 cr, stock up 1.10%
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The Quarter story
The two most recent quarterly results, compared side-by-side.
TCI strengthens its balance sheet and logistics capacity, though rising debt and seasonal margin pressure in freight and shipping temper returns.
Cash reserves turned positive, rising from ₹(3,124) Cr in Q1 FY26 to ₹2,546 Cr in Q1 FY27, restoring liquidity.
Total debt rose from ₹1,912 Cr in Q1 FY26 to ₹2,733 Cr in Q1 FY27, increasing leverage to fund expansion.
TCI Supply Chain EBDITA margins improved from 9.2% in Q3 FY26 to 10.2% in Q1 FY27, showing better cost control.
Return on capital employed declined from 29.3% in Q1 FY26 to 23.0% in Q1 FY27, reflecting the drag of new asset investments.
Foreign investor stakes rebounded from 4% in Q2 FY26 to 11% in Q1 FY27, signaling renewed market confidence.
TCI Freight EBIT margins softened from 2.7% in Q1 FY26 to 2.5% in Q1 FY27, indicating ongoing pricing pressure.
Valuation multiples contracted from 15.7x in Q2 FY26 to 10.8x in Q1 FY27, making the stock more attractively priced.
TCI Seaways EBIT margins fell from 42.8% in Q3 FY26 to 36.7% in Q1 FY27, as shipping rates normalize.
Company insights, generated from the most recent coverage.
Group CFO Ashish Tiwari calls the rebooking ban acceptable short term but not sustainable long term, arguing cancellation should remain possible at a price — signalling importer-side corporates will lobby for a priced exit rather than an outright prohibition.
With debt-equity at just 0.12 and a 1.2% dividend yield, TCI has balance-sheet headroom to fund a buyback without leverage stress — a key reason the buyback narrative lands credibly.
TCI's 58% delivery percentage on a 51.7 lakh-share volume spike (vs 20,000%+ above average) confirms genuine institutional accumulation behind the buyback rally, not just speculative churn.