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Transport Corporation Of India Ltd (TCI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532349 NSE: TCI Logistics | Small Cap | Transport Corpn. Share Price

₹924.40 -10.80 (-1.15%)

As on 14-Jul'26 16:59

Transport Corporation Of India Ltd (TCI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532349 NSE: TCI Logistics | Small Cap | Transport Corpn. Share Price

₹924.40 -10.80 (-1.15%)

As on 14-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹7,185 Cr.
Current Price
₹924.4
52-Week Low / High
₹869 / 1,299
TTM EPS
₹59.4
TTM Sales
₹4,917 Cr.
Book Value per Share
₹332.1
P/E Ratio
15.75
Lower than its 5-year historical median
Industry PE
39.3
Price to Book (P/B)
2.82
Lower than its 5-year historical median
Price to Sales (P/S)
1.46
Lower than its 5-year historical median
EV/EBITDA
12.90
Lower than its 5-year historical median
Dividend Yield
1.08%
Profitability Efficiency
Return on Equity (ROE)
19.60%
Outperforms industry median
Return on Capital Employed (ROCE)
20.52%
Outperforms industry median
Return on Assets (ROA)
14.34%
Operating Profit Margin
10.6%
Net Profit Margin
9.35%
Gross Profit Margin
11%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
9.46%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
12.14%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
10.55%
Asset Quality
Promoter Holding
68.73%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,536 Cr.
Equity
₹15.4 Cr.
Face Value
₹2
All Time Low / High
₹3.40 / 1301.85

Transport Corporation Of India stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is Transport Corporation Of India Ltd a good quality company?
Transport Corporation Of India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Transport Corporation Of India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Transport Corporation Of India Ltd vs industry peers?
Transport Corporation Of India Ltd revenue CAGR is 10.57%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Transport Corporation Of India Ltd?
Promoters hold 68.73% of the Transport Corporation Of India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Transport Corporation Of India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 12.8% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Transport Corporation Of India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 13.1%16.3%16.9%13.8%13.9%23.4%23%20.5%21.5%20.5%-
Value Creation
Index
-0.10.20.20.00.00.70.70.50.60.5-

Growth Parameters

Sales 1,9432,3502,7542,7182,8023,2593,7834,0244,4924,9174,917
Sales YoY Gr.-21%17.2%-1.3%3.1%16.3%16.1%6.4%11.6%9.5%-
Adj EPS 10.61618.919.520.237.541.245.453.759.359.4
YoY Gr.-50.8%18.3%3.1%3.5%86%10%10%18.5%10.3%-
BVPS (₹) 84.499115.5132.1150.9183.9218.1256.2279.6332.5332.1
Adj Net
Profit
81.1122145150155290320353412455456
Cash Flow from Ops. 98.8157179243305368361299359444-
Debt/CF from Ops. 4.32.82.61.70.90.20.20.50.40.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 10.9%11.9%9.1%9.5%
Adj EPS 21.1%24.1%12.9%10.3%
BVPS16.5%17.1%15.1%18.9%
Share Price 10.1% 18.3% 7% -25%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
13.317.417.515.614.222.320.41919.819.317.9
Op. Profit
Mgn %
8.49.29.18.99.412.611.310.210.310.610.5
Net Profit
Mgn %
4.25.25.35.55.798.58.99.39.39.3
Debt to
Equity
0.70.60.50.40.2000.10.10.10.1
Working Cap
Days
9087899995837577869553
Cash Conv.
Cycle
5453535855464346413735

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,9432,3502,7542,7182,8023,2593,7834,0244,4924,917
Operating Expenses + 1,7812,1332,5042,4772,5412,8483,3593,6144,0314,400
Manufacturing Costs1,4061,6972,0122,0042,1022,3572,7742,9383,2603,543
Material Costs0000000000
Employee Cost 107124140157145170197223250276
Other Costs 268312352316294321388452521580
Operating Profit 162216250241261411424411461517
Operating Profit Margin (%) 8.3%9.2%9.1%8.9%9.3%12.6%11.2%10.2%10.3%10.5%
Other Income + 12142020251830464748
Exceptional Items 00-1-10-130-3-200
Interest 30323734271310132023
Depreciation 5969778293113121128118127
Profit Before Tax 100152179159174330364388459500
Tax 19293316243843344340
Profit After Tax 81124145143150293321354416460
PAT Margin (%) 4.2%5.3%5.3%5.3%5.4%9.0%8.5%8.8%9.3%9.4%
Adjusted EPS (₹)10.516.118.818.519.137.540.945.153.859.5
Dividend Payout Ratio (%)10.40%10%9.60%10.80%13.10%16%17.10%15.50%14.90%16.80%

Valuation of Transport Corpn. - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 6477588851,0151,1631,4221,6921,9922,1422,552
Share Capital 15151515151516161515
Reserves 6317428709991,1481,4071,6761,9772,1272,536
Debt +3803954143692354146122118167
Long Term Debt1431511861481092340102102143
Short Term Debt236244228221126196201624
Minority Interest455692730333639
Trade Payables3660676494977666237267
Others Liabilities 163180244230238239257288400457
Total Liabilities 1,2291,3981,6161,6831,7391,8272,1012,5012,9343,482

Fixed Assets

Net Fixed Assets +5426267277728078017918629641,187
Gross Block6257729521,0861,2271,3181,3511,5401,7492,064
Accumulated Depreciation83146226314419517560679785876
CWIP 57564225726109255343
Investments 87104117135150193286543411487
Inventories335778511715
Trade Receivables358425515487511508561601722816
Cash Equivalents 1914162640741859685113
Others Assets 165169232235219235247281491520
Total Assets 1,2291,3981,6161,6831,7391,8272,1012,5012,9343,482

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 99157179243305368361299359444
PBT 100152179159174330364388459500
Adjustment 879911110211510388492952
Changes in Working Capital -64-58-762311-16-72-98-92-28
Tax Paid -25-37-34-415-49-19-39-38-80
Cash Flow From Investing Activity + -122-131-158-135-107-76-193-404-99-367
Capex -114-151-126-132-122-71-153-242-349-412
Net Investments -2-16-1-2-18-80-237154-49
Others -721-37-2161240769694
Cash Flow From Financing Activity + 32-30-24-104-176-258-6618-292-35
Net Proceeds from Shares 3012434455
Net Proceeds from Borrowing 471147-44-47-1081373956
Interest Paid -30-32-38-34-26-10-7-9-14-15
Dividend Paid -9-12-14-15-10-41-55-55-77-70
Others 213-21-13-98-102-215-214-12
Net Cash Flow 8-4-332134102-87-3242

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)13.3417.6317.6915.0713.8122.6520.5919.2420.1319.6
ROCE (%)13.0716.2816.8513.7913.9123.3622.9620.4921.4820.52
Asset Turnover Ratio1.71.791.831.651.641.831.931.751.651.53
PAT to CFO Conversion(x)1.221.271.231.72.031.261.120.840.860.97
Working Capital Days
Receivable Days64.2060.8062.3067.306557.1051.6052.7053.7057.10
Inventory Days0.400.500.600.800.900.900.700.700.700.80
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Transport Corporation Of India Ltd FAQs

The current trading price of Transport Corpn. on 14-Jul-2026 16:59 is ₹924.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Jul-2026 the market cap of Transport Corpn. stood at ₹7,185.3 Cr

The latest P/E ratio of Transport Corpn. as of 13-Jul-2026 is 16.18.

The latest P/B ratio of Transport Corpn. as of 13-Jul-2026 is 3.04.

The 52-week high of Transport Corpn. is ₹1,299.1 and the 52-week low is ₹869.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Transport Corpn. is ₹4,225 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Transport Corporation Of India Ltd is a average quality company.

The key valuation ratios of Transport Corporation Of India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Transport Corporation Of India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Transport Corporation Of India Ltd

Transport Corporation of India (TCI), founded in 1958, continues to be a leading player within the evolving Indian logistics landscape. TCI is the flagship company of TCI Group. Backed by C.O.R.E. (Customer Focus, Ownership, Responsive, Empathy) values, TCI has exhibited resilience and strategic foresight, not only adapting to evolving industry trends but also pioneering innovative business practices as a comprehensive logistics and supply chain solutions provider. With a rich legacy of over decades, TCI offers a comprehensive suite of solutions for all logistics & supply chain needs and strives to extend unparalleled connectivity to every nook and corner of India and beyond. The company is serving integrated multi-modal logistics through TCI Freight, TCI Supply Chain Solutions and TCI Seaways.

TCI Freight is oldest business and the largest division of TCI group. It is India’s leading ground transport services provider. Fully equipped to provide cross border transport solutions for a wide range of cargo, TCI Freight ensures seamless logistics operations nationwide to even the remotest corner of the country. It enjoys an equally equipped network across SAARC/BBIN nations. TCI Supply Chain Solutions is a ‘one-stop shop’ offering value-oriented solutions for all the logistics and supply chain-related needs right from ‘conceptualization to implementation.’ Backed by expansive industry exposure over six decades, TCI Supply Chain Solutions prides itself in providing customized, innovative and wideranging solutions across different industry verticals such as Auto, OmniChannel Retail, Hi-tech & Telecom, Chemicals, Healthcare and Cold Chain.

TCI Seaways is a part of TCI Group’s extensive multimodal network across India and one of India’s leading multimodal coastal players, connecting its western, eastern, and southern ports. With expertise in coastal shipping, container cargo movements and transportation services, TCI Seaways also provides first- and last-mile connectivity via rail and road. In addition to the core shipping services, the company also provides value-added services such as ship management, Liner/ Charter, Agency activities, Stevedoring, Project Handling, Multi-Modal and Transportation services.

Business area of the company 

The company is India’s leading integrated multimodal logistics and supply chain solutions provider, with a strong presence across the country as well as the SAARC and BBIN regions. With over decades of operational excellence, the company has built deep expertise in delivering efficient, end-to-end multimodal logistics and supply chain services to a wide array of diverse industrial clients.

Transportation Management Solutions in India

  • End to end supply chain solutions
  • 3PL / 4PL
  • Port logistics + EXIM & CHA
  • Control tower and consultancy
  • Inbound/outbound logistics
  • Reefer storage
  • Reefer TPT
  • Liquid & gas bulk logistics
  • ODC/PHH
  • SAARC & middle east operations
  • Warehousing
  • Coastal shipping
  • Integrated multimodal solutions
  • Indian rail & container movement
  • LTL/FTL

Awards & Achievements

  • 2007: The company has bagged the prestigious Express, Logistics & Supply Chain Conclave Award for “Best 3PL of the Year”. The Awards were part of the Express, Logistics & Supply Chain Conclave held in September 2007.
  • 2007: TCI, bagged the prestigious CII Award for Supply Chain Excellence for Excellence in Supply Chain Design, Re-engineering & Delivering value to customers.
  • 2007: TCI Foundation the Corporate Social wing of TCI received the Pegasus Silver Corporate Social Responibility Award 2007. This was in recognition of the work being done under TCIF's Project Kavach which aimed at awareness and prevention of HIV / AIDS amongest the high risk trucking community
  • 2008: TCI SCS, the supply chain and logistics consultancy division of Transport Corporation of India (TCI), India’s leading integrated logistics solutions provider, was awarded the “Best 3PL” (Third Party logistics service provider) for the year at the Express Logistics and Supply chain (ELSC) conclave 2008.
  • 2010: Infinite Logistics Solutions Private Limited(ILSPL) has formed a joint venture between TCI and CONCOR for bulk multimodal logistics solutions by rail and road.
  • 2010: The 6th Social and Corporate Governance Award 2010 for Best Corporate Social Responsibility Practice, BSE 
  • 2012: TCI’s Receive Best Logistics Provider of the Year 2012 Indian Institute of Materials Management (IIMM) Kolkatta Best 3 PL Company of the Year, 2000-2012, ELSCC Best Logistics Provider of the Year 2012, IIM Kolkata
  • 2013: Road Transporter of the Year 2013, Indian Supply Chain and Logistics Summit
  • The Fleet Owner of the Year 2013 Automotive, Mahindra Transport Excellence Award
  • 2019: TCI Safe Safar initiative was the winner of the FICCI Road Safety Awards 2019 in the category ‘Innovative Educational Program’ in Road Safety
  • 2019: TCI Safe Safar has been awarded the ‘Innovation in Sustainability & Corporate Social Responsibility’ at the AIMA’s 8th Innovation Practitioner’s Case Study Contest & Summit 2019
  • 2021: AIMA Awards - 5th National Competition for Managers 2021 National Champion in Private Category by All India Management Association
  • 2022: Winning the 1st National Logistics Excellence Awards in Cold Chain/Refrigerated Service Provider.
  • 2022: Winning the 1st National Logistics Excellence Awards in Warehouse Service Provider.
  • 2023: At GMIS 2023 by The Ministry of Ports, Shipping & Waterways; Government of India on October 19, 2023
  • 2023: ASSOCHAM Excellence Awards – Logistics Company of the Year  
  • 2023: 15th Express Logistics & Supply Chain Leadership Awards 2023 – Diversified Logistics Company of the Year
  • 2024: Best Warehouse Service Provider – Institute of Supply Chain Management (ISCM) at 6th India Logistics Strategy Summit 2024
  • 2024: Excellence in Integrated Logistics – At Emerging Technologies in Electrical Systems (ETES) 2024
  • 2025: Highest Number of Containerised Vessels – Deendayal Port Authority.
  • 2025: Best People Management Award – Delhi Chapter.
  • 2025: Top Logistics Champion 2025 – ISCM.
  • 2025: Urban Infra Logistics Solution Leader of the Year – Urban Infra Group.
  • 2025: Logistics Excellence Award 2024–25 – SIAM.
  • 2025: India’s Top Value Creator 2025 – Transport & Logistics – Dun & Bradstreet India.
  • 2025: MultiLogistix Award – First Construction Council.

Milestones

  • 1958: Founded in Calcutta - Beginning with one man, one truck, and one office
  • 1965: New Beginnings - An idea taking shape into a Pvt. Ltd. Company
  • 1968: Embracing the Digital - Introducing computers into the branch office
  • 1974: Getting Public Limited - Company status
  • 1982: The Share Market - Offering shares to the public
  • 1985: Across the Ocean - Purchasing the first two ships
  • 1996: Faster Transportation - The launch of XPS services
  • 1998: To the Skies - The launch of XPS air-mode services
  • 1999: The inception of Transystem International Limited (TLI)
  • 1999: A joint venture with Mitsui and Co. of Japan to provide automobile logistics.
  • 2000: The IRFI Factor - The launch of the Indian Road Freight Index
  • 2001: Moving Across Coasts- Purchase of ships to facilitate coastal movement
  • 2002: Global Services - Launch of XPS Global service to provide international freight forwarding services and single window clearances
  • 2003: A Special Project - Conceptualisation of Project Kavach (An HIV/AIDS prevention programme) under TCI Foundation
  • 2005: Reaching Homes - The launch of XPS courier service
  • 2006: A Grand Celebration - Group TCI achieved a turnover of over Rs 1000 crore
  • 2008: The Golden Jubilee - Celebrating 50 years of TCI as it expanded its global footprints from 3 to 8 countries
  • 2009: Towards Sustainability - The only logistics company to release a Sustainability cum CSR report
  • 2011: TCI Developers Ltd. (The Real Estate arm of TCI Group) listed on BSE and NSE
  • 2011: TCI group reached a revenue of Rs 20 billion (around $450 million)
  • 2013: Renaming Infinite Logistics Solutions Pvt Ltd (ILSPL) to TCI CONCOR Multimodal Solutions Pvt Ltd
  • 2014: TCI Seaways acquiring a new ship - TCI Lakshmi
  • 2015: Entering the Domestic Tanktainer movement
  • 2015: Launching a new ship, TCI Arjun, at Mundra Port on West Coast
  • 2015: Opening of the TCI Pataudi Training Center
  • 2016: Launching Bangladesh services under the company TCI Bangladesh Ltd.
  • 2016: Inaugurating its 1st state-of-the-art Cold Chain Warehouse at Pataudi Road.
  • 2016: 3rd Joint Study Report by TCI & IIM Kolkata launched by Shri Nitin Gadkari in New Delhi
  • 2017: TCI Foundation & Transystem Logistics inaugurating two new Family Healthcare Clinics for truck drivers.
  • 2017: Launching a new ship, TCI Vijay, at the Western Coast.
  • 2018: Celebrating 60 years of TCI group.
  • 2018: Launch of a Joint Study Report in collaboration with the Insurance Institute of India.
  • 2018: Launching a new ship, TCI Express.
  • 2018: Crossing Rs 2000 crore in turnover.
  • 2019: Launch of TCI Safe Safar, an initiative to spread awareness on health and safety amongst millions
  • 2019: Launching a new ship, TCI Anand, at the Western Coast
  • 2020: TCI Safe Safar with the 2nd truck at Bengaluru
  • 2021: Partnering with Hospital chains to deliver mission-critical Liquid Medical Oxygen (LMO).
  • 2021: TCI Foundation along with USAID successfully carried out India's Largest COVID-19 Vaccination Drive covering over 10 Lakh Indians from remote locations & marginalised sections as part of the Janbhagidari Campaign.
  • 2022: Launching Safe Safar 3.0 
  • 2022: Started BRSR Reporting voluntarily.
  • 2023: TCI-IIMB Supply Chain Sustainability Lab Launch
  • 2023: Global Maritime Excellence Achievers award by Ministry of Ports, Shipping & Waterways, Government of India
  • 2024: Successfully completed 25 years of Transystem JV with Mitsui & Co. Ltd.
  • 2024: Award of Excellence at 6th FICCI Road Safety Awards 2024
  • 2024: Integrated B2B logistics services with ONDC
  • 2024: Awarded 5A1 financial stability rating by Dun & Bradstreet
  • 2025: A significant highlight was the appointment of Vineet Agarwal, Managing Director – TCI, as Vice President of AIMA.
  • 2025: Entered the second year of TCI’s global alliance with JC Trans, enhancing international logistics capabilities.
  • 2025: The TCI–IIM Bangalore TEMT Tool was officially adopted and hosted by DPIIT, marking a significant milestone in digital logistics enablement.

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