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Swing Capital

TCI Express Ltd

NSE: TCIEXP BSE: 540212Logistics

TCI Express Limited is an express cargo logistics company with its own set up across India. It carries distribution through various modes of transport and is specialized in offering time definite solutions. [1]

₹514
52W: ₹448 — ₹870
PE 22 · Book ₹212 · +142% vs book
Market Cap₹1,975 Cr
Stock P/E22Price to Earnings
ROCE15.8%Return on Capital
ROE12%Return on Equity
Div. Yield1.54%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 26.4%

Weaknesses

  • −The company has delivered a poor sales growth of 3.20% over past five years.

Shareholding Pattern

Promoters69.46%
FIIs0.81%
DIIs9.39%
Public20.35%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters69.61%69.53%▼0.169.53%69.53%69.53%69.46%▼0.169.46%69.46%
FIIs1.6%1.74%▲0.10.93%▼0.80.8%▼0.10.8%0.85%▲0.00.82%▼0.00.81%▼0.0
DIIs10.2%10.1%▼0.19.69%▼0.49.6%▼0.19.75%▲0.29.38%▼0.49.39%▲0.09.39%
Public18.6%18.63%▲0.019.84%▲1.220.07%▲0.219.9%▼0.220.29%▲0.420.33%▲0.020.35%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales320312317293311296307287309314
Expenses270266272259273266279257273280
Operating Profit50464534383028303534
OPM %16%15%14%11%12%10%9%10%11%11%
Net Profit36323223262121212523
EPS ₹9.288.48.246.036.865.395.395.486.555.96

AI Insights

Revenue Trend

TTM revenue at ₹1,217Cr, up 0.7% YoY. OPM at 10%.

Debt Position

Borrowings at ₹8Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹26Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 9.39% (-0.78pp change). FIIs: 0.81% (-1.49pp change). Promoters hold 69.46%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 16% (Mar 2025). Working capital days: 40.

Valuation

PE 22x with 15.8% ROCE. Price is 142% above book value of ₹212. Dividend yield: 1.54%.

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