TCI Express Limited

NSE: TCIEXP · Unclassified

₹488.20-2.59%06 Nov 2026

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Instant answers about TCI Express Limited — computed from its filings, no language model

Market cap₹1,877 cr

Current price₹488.20

High / Low₹693 / ₹459

P/E32.1

P/B2.17

Book value₹224.7

ROE6.8%

ROCE12.6%

Debt / equity0.06

Dividend yield1.84%

EPS (TTM)₹15.23

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY23	FY24	FY25	FY26
Revenue	1,241	1,254	1,208	1,238
EBITDA	194	187	125	125
Operating margin	15.7%	14.9%	10.3%	10.1%
Interest	2	1	1	2
Depreciation	15	19	22	26
Profit before tax	185	174	115	110
Tax	45	42	29	29
Net profit	0	0	0	81
EPS ₹	36.24	34.36	22.36	21.21
Operating cash flow	147	136	118	101
Capex	126	52	51	125
Dividend paid	31	31	31	35
Total assets	735	850	919	1,025
Equity	596	704	764	819

Quarterly performance

last 15 quarters · ₹ crore

showing latest 8 of 15 periods

	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	326	305	320	312	317	293	312	296	307	287	309	314	328	313	338
Operating profit	54	46	50	46	45	33	37	29	26	28	34	32	32	31	36
Operating margin	16.6%	15.2%	15.8%	14.6%	14.1%	11.2%	11.8%	9.8%	8.5%	9.8%	10.9%	10.3%	9.6%	10.0%	10.8%
Other income	2	1	2	2	2	2	2	3	6	4	4	3	4	4	4
Interest	1	0	0	0	0	0	0	0	0	0	0	0	1	1	1
Depreciation	4	5	5	5	5	5	5	5	6	5	5	6	9	7	7
Profit before tax	51	43	47	42	42	30	34	26	26	26	32	30	23	28	32
Tax	12	11	12	10	10	7	9	7	7	7	8	8	6	7	8
Net profit	0	0	0	0	0	0	25	19	0	19	0	22	16	20	0
EPS ₹	10.04	8.41	9.27	8.40	8.24	5.82	6.49	5.00	5.05	5.13	6.23	5.74	4.77	5.20	5.74
Revenue YoY	—	—	—	—	-2.8%	-3.9%	-2.6%	-4.9%	-3.1%	-2.1%	-1.0%	5.9%	6.8%	9.3%	9.6%
Profit YoY	—	—	—	—	—	—	—	—	—	—	-100.0%	14.8%	—	5.2%	—

Earlier results (standalone, Dec '16 – Dec '22)

₹ crore · from BSE, before the NSE XBRL filings begin

TCI Express Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY18†	FY19†	FY20†	FY21†	FY22†
Revenue	885	1,024	1,032	844	1,081
Operating profit	91	119	121	134	175
Operating margin	10.2%	11.6%	11.8%	15.9%	16.2%
Other income	2	3	4	8	8
Interest	4	4	1	1	1
Depreciation	5	7	8	9	10
Profit before tax	84	112	117	132	172
Tax	25	39	28	32	43
Net profit	58	73	89	101	129

Quarters

showing latest 8 of 25 periods

	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†	JUN '19†	SEP '19†	DEC '19†	MAR '20†	JUN '20†	SEP '20†	DEC '20†	MAR '21†	JUN '21†	SEP '21†	DEC '21†	MAR '22†	JUN '22†	SEP '22†	DEC '22†
Revenue	188	203	203	204	229	249	248	247	263	266	256	269	268	238	89	213	262	280	223	273	287	298	290	310	314
Operating profit	17	19	18	20	24	28	27	27	31	34	30	31	34	27	2	33	45	54	32	45	47	50	43	51	46
Operating margin	8.9%	9.3%	9.1%	9.7%	10.5%	11.4%	10.9%	11.0%	11.8%	12.7%	11.6%	11.4%	12.8%	11.2%	2.3%	15.3%	17.3%	19.4%	14.4%	16.6%	16.4%	16.8%	14.7%	16.6%	14.7%
Other income	0	0	0	0	1	1	1	1	1	1	1	2	1	1	1	1	2	3	2	2	2	2	2	2	1
Interest	1	0	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	2	1	2	2	2	2	2	2	2	2	2	2	3	2	2	2	3	3	3	4
Profit before tax	15	18	17	18	22	26	25	25	29	33	28	30	33	26	1	32	45	55	31	45	47	49	41	50	43
Tax	5	5	5	5	7	8	9	9	10	11	10	4	7	6	0	8	11	12	8	11	12	13	10	12	11
Net profit	10	12	12	13	15	18	16	16	19	22	18	26	26	19	1	23	34	43	24	34	35	36	31	38	32
EPS ₹	2.62	3.20	3.17	3.41	4.03	4.65	4.21	4.25	4.89	5.68	4.81	6.58	6.66	4.96	0.24	6.12	8.59	11.08	6.19	8.85	9.13	9.21	8.05	9.82	8.32
Revenue YoY	—	—	—	—	22.1%	22.9%	21.9%	21.4%	14.9%	6.6%	3.5%	9.0%	2.0%	-10.5%	-65.4%	-21.0%	-2.2%	17.6%	151.2%	28.4%	9.3%	6.6%	30.3%	13.3%	9.6%
Profit YoY	—	—	—	—	53.8%	45.3%	33.0%	24.6%	21.3%	22.1%	14.2%	60.5%	36.4%	-12.5%	-95.0%	-10.0%	31.6%	123.9%	2482.6%	44.9%	4.5%	-15.6%	30.5%	11.0%	-8.9%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 12 periods

	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	0.0%	0.0%	0.0%	3.3%	5.9%	5.8%	8.3%	4.8%	5.1%	7.0%	7.2%	6.8%
ROCE	28.0%	24.8%	22.9%	19.8%	17.6%	15.2%	14.8%	13.7%	14.2%	13.2%	13.4%	12.6%
Net margin	0.0%	0.0%	0.0%	2.0%	3.6%	3.7%	5.3%	3.2%	3.4%	4.6%	4.6%	4.5%
EBITDA margin	15.6%	14.9%	14.0%	13.0%	11.8%	10.3%	10.0%	9.7%	9.9%	10.1%	10.2%	10.2%
Debt / equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.04	0.04	0.06
Interest coverage	102.29	119.35	120.07	111.67	104.71	87.59	85.70	81.41	81.18	52.10	42.69	33.11
Asset turnover	1.59	1.47	1.46	1.40	1.38	1.32	1.31	1.24	1.26	1.21	1.23	1.18

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 8 periods

	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	8	8	8	8	8	8	8	8
Other equity / reserves	589	652	696	740	757	799	811	856
Total equity	596	660	704	748	764	807	819	864
Borrowings	1	0	3	1	0	6	33	48
Current liabilities	124	117	129	112	135	134	135	162
Non-current liabilities	14	19	17	21	19	27	71	69
Total assets	735	795	850	880	919	968	1,025	1,095
Property, plant & equipment	371	374	447	449	458	466	496	538
Capital work-in-progress	61	70	16	26	20	26	29	71
Investments	33	47	91	89	148	120	124	87
Inventories	0	0	0	0	0	0	0	0
Receivables	211	241	232	238	226	243	239	274
Cash & equivalents	14	12	17	19	12	44	16	8

Cash flow

annual · ₹ crore · line = free cash flow

	FY23	FY24	FY25	FY26
Cash from operations	147	136	118	101
Cash from investing	-65	-105	-91	-89
Cash from financing	-84	-28	-32	-8
Capex	126	52	51	125
Free cash flow	21	84	68	-24
Dividends paid	31	31	31	35

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹538 cr49%

CWIP

₹71 cr6%

Investments

₹87 cr8%

Receivables

₹274 cr25%

Cash & equivalents

₹8 cr1%

Other assets

₹118 cr11%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
TCI Express Limited	1,877	488.20	32.1	2.17	6.8%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-2.3%

6 months-14.9%

1 year-28.0%

3Y CAGR-28.4%

5Y CAGR-24.5%

10Y CAGR—

50-day avg₹501.65

200-day avg₹523.74

RSI (14)53

FAQs

What is the share price of TCI Express Limited?

TCI Express Limited (TCIEXP) closed at ₹488.20 on NSE on 06 Nov 2026.

What is the market cap of TCI Express Limited?

₹1,877 crore at the latest close.

What is the P/E ratio of TCI Express Limited?

32.1, on trailing-twelve-month earnings from its filings.

How fast is TCI Express Limited growing?

TCI Express Limited: revenue has compounded at -0.1% a year over three years. Latest-quarter revenue is up 9.6% year on year.

How profitable is TCI Express Limited?

On a trailing-twelve-month basis return on equity is 6.8%, return on capital employed 12.6%, operating margin 10.2%, net margin 4.5%.

How much debt does TCI Express Limited have?

TCI Express Limited is lightly geared: debt to equity is 0.06 with borrowings of ₹48 cr against cash of ₹8 cr (balance sheet of 2026-09-30). Operating profit covers interest 33.1 times.

Financials parsed from TCI Express Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '23, annual from FY23, balance sheet from Mar '23. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.