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TCI Express Results: Latest Quarterly Results & Analysis

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TCI Express Ltd. 06 Nov 2025 16:20 PM
Result PDF

Q2FY26 Quarterly Result Announced for TCI Express Ltd.

Warehousing & Logistics company TCI Express announced Q2FY26 results

  • Total Income: Rs 312 crore compared to Rs 313.90 crore during Q2FY25.
  • EBITDA: Rs 39 crore compared to Rs 41 crore during Q2FY25..
  • EBITDA Margin: 12.4% for Q2FY26.
  • PAT: Rs 25 crore compared to Rs 26 crore during Q2FY25.
  • PAT Margin: 8.1% for Q2FY26

Chander Agarwal, Managing Director, said: “Q2FY26 showed consistent progress over the previous quarter, marked by consistent operational performance, disciplined execution and sustained effort toward adding new verticals within the Surface segment. The Performance was moderately impacted by GST reforms, including rate cuts and realignments during the quarter. However, the festive season helped drive demand in lifestyle, garments, and other product categories and MSME activity showed gradual improvement. Furthermore, the Company continued to strengthen its multimodal capabilities in the express logistics space.

The Surface Express division continues to be the largest contributor to the business. We added 10 new branches in this division which expanded network coverage and enhanced last-mile reach. Rail Express delivered 25% YoY growth, driven by 25 new branch additions and the successful implementation of appointment-based deliveries. Additionally, Air Express maintained strong momentum, International Air Express grew 40% YoY through direct space arrangements with an international carrier, while Domestic Air Express strengthened its reach through new connections at Lucknow and Varanasi airports. The C2C segment continued to expand, with a 15% growth supported by new customer acquisitions and regional expansion initiatives.

During the quarter, the Company leased a larger sorting center in Mumbai, nearly three times the size of the existing one. This expansion is expected to enhance operational efficiency, reduce costs and support future growth and capacity requirements in western part of India. The Company continued to invest in digital transformation through the planned implementation of Zoho CRM to streamline customer management and operational coordination. These infrastructure and technology initiatives, combined with disciplined cost control and an asset-light model, have enhanced network efficiency and supported consistent service delivery. The Company also rolled out management and employee training programs across all levels to strengthen business quality and operational excellence.

For the quarter TCI Express reported total income of Rs 312 crore and Profit After Tax of Rs 25 crore. The Company remains debt-free with strong liquidity, highlighting its operational agility, financial strength and readiness for sustained growth. Direct costs remained stable during the quarter, indicating effective cost management and operational efficiency.

Furthermore, the Company continued to advance its social initiatives through the TCI Express Foundation. In September 2025, the Foundation organized its annual Blood Donation Drive nationwide to honour Late Shri P.D. Agarwal Ji on his Punya Tithi (Death Anniversary). The Jaipur Foot & Rehabilitation Centre in Lucknow supported many beneficiaries with artificial limbs and assistive devices, while ongoing initiatives such as the Archery Academy in Khunti, Jharkhand and the rural development programs in collaboration with the Global Vikas Trust continue to promote inclusive growth and community upliftment.

Looking ahead, the company remains focused on expanding its infrastructure and strengthening multimodal operations. We are also expanding into new verticals, such as defense, electric vehicles (EV) and solar energy, which align with emerging trends and growth opportunities in the logistics space. With a strong balance sheet and consistent investments in technology, TCI Express is well-positioned to capture emerging opportunities in India’s logistics sector and deliver sustainable value to its stakeholders in the Quarters ahead."

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Result PDF

Warehousing & Logistics company TCI Express announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from operations of Rs 307 crore compared to Rs 317 crore
  • EBITDA of Rs 34 crore compared to Rs 47 crore
  • EBITDA margin was 10.8%
  • PAT of Rs 21 crore with margin at 6.6%

FY25 Financial Highlights:

  • Revenue from operations of Rs 1,208 crore compared to Rs 1,254 crore
  • EBITDA of Rs 143 crore compared to Rs 194 crore
  • EBITDA margin stood at 11.7%
  • PAT of Rs 91 crore with the margin at 7.4%

Commenting on the results, Chander Agarwal, Managing Director of TCIEXPRESS, said: “FY25 was a year of solid growth and operational excellence. Our focus on multimodal expansion, automation and customer-first solutions has strengthened our leadership and expanded our reach across key industries. Demand in sectors such as automotive and manufacturing has remained robust, and we have deepened our capabilities with new Surface, Rail and Air branches. We also added 60 new branch offices during the year, further reinforcing our pan-India network.”

He added: “With India’s logistics sector poised for significant growth, TCIEXPRESS is well-prepared to seize new opportunities. We will continue investing in technology, sustainability and long-term partnerships to deliver exceptional value to our customers and stakeholders.”

Result PDF

Warehousing & Logistics company TCI Express announced Q3FY25 results

  • Total Income for the quarter stood at Rs 299 crore
  • EBITDA for Q3FY25 stood at Rs 33 crore, with an EBITDA margin of 11%.
  • Profit After Tax (PAT) for Q3FY25 was Rs 20.7 crore, with a PAT margin of 6.9%.

Chander Agarwal, Managing Director, said: “TCI EXPRESS continued to demonstrate operational resilience and strategic agility in a dynamic market environment. During the quarter, we enhanced our multimodal logistics capabilities, strengthened our metro-city delivery network in the Air Express segment, and advanced automation initiatives to deliver exceptional service to our customers. These efforts underscore our commitment to meeting evolving market needs while maintaining operational efficiency.

However, the logistics sector continues to navigate a challenging business landscape with moderating manufacturing activity and evolving consumer trends impacting demand. India’s Manufacturing PMI showed some fluctuations with a slight dip in the index towards the later months, reflecting a marginal slowdown in production levels, while festive season demand in October was softer than expected. November and December experienced a slight slowdown. Additionally, inflationary factors, including annual toll revisions of 8-10%, influenced operating costs in the Surface Express segment. The Air Express division also adjusted to shifts arising from airline consolidations and airport privatization.

We are honored to have received significant recognition during the quarter, including the prestigious ‘CII SCALE Award 2024’ from the CII Institute of Logistics for Supply Chain and Logistics Excellence, highlighting the strength of our infrastructure and innovation. Being featured in Forbes India’s Select 200 Companies with Global Business Potential in DGEMS 2024 reflects our growing global presence and strategic positioning. Our CSR efforts were recognized with the ‘Indian CSR Award 2024’ by Brand Honchos, and our workplace culture continues to be acknowledged with the ‘Great Place to Work 2025-26’ certification for the fifth consecutive year, emphasizing our focus on employee well-being and growth.

As part of our ongoing commitment to shareholder value, we are pleased to announce a second interim dividend of ?3.00 per share taking the total dividend to Rs. 6.00 per share for the 9MFY25, representing a payout of 300% on the face value, reflecting our confidence in the company’s financial strength and consistent performance.

Looking ahead, we remain cautiously optimistic as the anticipated rebound in economic activity, supported by government infrastructure investments and a renewed focus on manufacturing, is expected to create favorable conditions for the logistics sector. The company anticipates a demand recovery with the upcoming budget, expecting fiscal measures to boost industrial output, infrastructure investments, and consumer spending, which will positively impact transportation and logistics activities. We are confident that our ability to leverage technology, enhance our services, and expand our offerings will enable us to continue delivering sustainable value to all stakeholders.”

Result PDF

Transportation & Logistics company TCI Express announced Q2FY25 results

Financial Highlights:

  • Total Income for the quarter stood at Rs 313.9 crore, registering an increase of 6.3%, if compared with Q1FY25 and a decrease of 2.4% YoY.
  • Sustaining margins:
    • EBITDA and PAT margins demonstrated an upward trend, having increased since the previous quarter.
    • The contribution to revenue from extended services, particularly from rail express, has been steadily increasing.
    • Capital expenditure of Rs 10.62 crore in Q2FY25 for expansion of our branch network, construction of sorting centers and ramping up our IT infrastructure.

Other Highlights:

  • Multimodal express services continues to diversify its service offerings, with plans to increase their revenue contribution to 20-22% over the next 2-3 years, thereby enhancing competitiveness.
  • Persistent inflation led to higher transportation costs and compressing margins. Heavy monsoon conditions resulted in water logging, causing longer delivery lead times and operational setbacks.
  • Lower demand especially in production-dependent sectors such as Automobile, Textile contributed to softer revenues and reduced profit margins.
  • Significant strides were made in automation, with sorting centers in Gurugram and Pune demonstrating improved efficiency. The extension of these enhancements to Ahmedabad and Kolkata is planned to further boost performance.
  • SME performance showed slight improvement, but the overall impact remained limited due to broader economic challenges from high inflation, rising labor costs and elevated interest rates.
  • The company anticipates a demand recovery with the upcoming festive season, supported by ongoing customer-centric approaches and strategic growth initiatives

Chander Agarwal, Managing Director, TCI Express ,said: “TCIEXPRESS, showing modest improvement in revenues and maintained its margins sequentially in Q2FY25, reflecting the company's efficient operational strategies, innovative service offerings and market adaptability, strengthening its position as India’s most trusted and fastest-growing express delivery company.

However, year-on-year revenue saw a slight dip due to certain factors, including prolonged monsoon rains led to waterlogging and flooding, causing supply chain disruptions and delivery delays. Additionally, lower activity in manufacturing and automotive sectors, coupled with geopolitical tensions, softened logistics demand. We continue to adapt and take proactive steps to mitigate these factors.

Amidst these challenges, TCI Express remains focused on driving operational efficiencies and positioning the company for long-term growth. We have made significant strides in automation, with our sorting centres in Gurugram and Pune already demonstrating improved operational efficiency. We are now planning to extend this initiative to our upcoming facilities in Ahmedabad and Kolkata. With a focus on expanding its network, the company has successfully launched three new branches to enhance accessibility and market reach. Additionally, our multimodal express services having both rail and air solutions as major contributors, continue to grow and we aim to increase their contribution to 20-22% of total revenue over the next 2-3 years, further strengthening our service offerings and competitive position.

We are pleased to announce our first interim dividend of Rs 3.00 per share for FY25, reflecting our dedication to delivering value to our shareholders. This demonstrates our ongoing commitment to rewarding investor confidence while maintaining a focus on sustainable growth and profitability.

CSR continues to be a core focus at TCI Express, resulting in the formation of the CSR arm ‘TCIEXPRESS Foundation’. We recently inaugurated our first Jaipur Foot and Rehabilitation Centre in Lucknow, aimed at improving the lives of physically challenged individuals (Divyang) across the region. This initiative, in collaboration with TCI foundation provides free artificial limbs, crutches, and calipers to those in need. The centre has already served ~100 individuals. Additionally, the foundation organized the Shri P.D. Agarwal Blood Donation Drive 2024, with 1,334 participants nationwide. We are proud to have received the Iconic Brand of India 2024 award and the Rajasthan Business Award for Best in Logistics.

Looking ahead, we anticipate a recovery in demand with the upcoming festive season. TCI Express remains steadfast in its commitment to leveraging its strengths, seizing growth opportunities, and maintaining a customer-centric approach. Our strategic initiatives and robust fundamentals will continue to propel us towards sustained growth and enable us to deliver superior value to our customers.”

Result PDF

Transportation-Logistics company TCI Express announced Q2FY24 & H1FY24 results:

1. Business Performance:
- TCI Express achieved consistent revenue growth and improved margins in Q2FY24.
- The company reported a revenue of Rs 322 crore, up by 5.0% QoQ and 3.1% YoY.
- EBITDA of Rs 52 crore and Net Profit of Rs 36 crore were recorded, with improved margins of 16.2% and 11.1% respectively.

2. Key Highlights:
- TCI Express experienced strong growth and margin improvements driven by the execution and acceleration of automation and steady demand from the MSME sector.
- The capacity utilization during the quarter was at ~84%.
- The company added 12 new branches during H1FY24, deepening its presence in key business geographies.
- TCI Express has received various awards and recognitions, including being recognized as the Most Trusted Brand of India 2023 and received the LEED Gold certification for its Tajnagar sorting centre.

3. Strategy and Outlook:
- TCI Express plans to continue its focus on balanced growth and revenue quality, expanding margins, and ensuring sustainable returns on capital.
- The company aims to expand its service offerings, including Rail Express, Pharma Cold Chain Express, and C2C Express, which are expected to contribute to higher margin levels.
- TCI Express remains optimistic about the industry's potential and is well-positioned to capitalize on the growth opportunities in the Indian economy and the evolving logistics landscape.

4. Sustainability:
- TCI Express is committed to sustainability and has been recognized as a Sustainable Organization by the Economics Times for adopting sustainable practices and promoting environmental consciousness.
- The company has implemented various initiatives for water conservation, renewable energy generation, emission reduction, and social welfare programs.
- TCI Express has also received certifications such as LEED Gold for its sorting centers and GEM 5 certification for its sustainable warehouse and logistics hub.

Commenting on the performance, Chander Agarwal, Managing Director, said, “Despite the delay in the festive season, we are delighted to announce that TCI Express delivered another quarter of consistent performance with Improved sequential margins. The growth and margin improvements during the period were primarily driven by the execution and acceleration of automation and steady demand from the MSME sector which has witnessed a strong uptick in the last few quarters.

In line with our reflection on performance and shareholder-friendly capital allocation policy, the Board of Directors has recommended an interim dividend of Rs 3 per share with a pay-out of 150% on the face value, reaffirming our commitment to delivering value to our shareholders.

Coming to the business update, I am pleased to announce the appointment of Mr. Hemant Srivastava as Chief Operating Officer of Express Businesses (Non-Surface) of TCI Express. With a distinguished career spanning two decades at the TCI Group, he has undertaken diverse and impactful roles in finance and management, including positions as Zonal Manager and Regional Express Manager. Under his capable and experienced leadership, Mr. Srivastava will head an independent team, responsible for overseeing Express Businesses (Non-Surface) including newly launched business verticals, ushering into a new era of innovation and excellence within TCI Express."

 

 

Result PDF

Transportation-Logistics company TCI Express announced Q1FY24 results:

  • Revenue from operations of Rs 305 crore, 5.0% of YoY growth
  • EBITDA of Rs 48 crore compared to Rs 45 crore, 7.0% of YoY growth
  • EBITDA margin at 15.6% compared to 15.3%
  • PAT of Rs 32 crore compared to Rs 31 crore
  • PAT Margin stable at 10.6%

Commenting on the performance, Chander Agarwal, Managing Director of TCI EXPRESS, said: “Despite the challenges posed by the current macroeconomic environment, TCI Express is off to a strong start in FY24. Our focus on seizing business opportunities, especially with our valued MSME customers, has been instrumental in driving this success. Even in the face of inflation, TCI Express has successfully outperformed peers and achieved strong margins, highlighting our efficient operational strategies and adaptability to changing market conditions. This reinforces our position as a reliable and successful player in the logistics industry.”

"As companies escalate their production activities, the demand for logistics services is expected to surge, presenting substantial growth prospects for the logistics industry. We are well prepared to capitalise on these opportunities by providing efficient supply chain management and transportation services to meet the rising demands of businesses,” said Mr. Agarwal.

“This move is strategically important as it will lead to a reduction in operational downtime, more streamlined processes, and increased overall efficiency,” Mr. Agarwal added.

“In conclusion, TCIEXPRESS remains committed to driving growth, leveraging emerging opportunities, and providing exceptional logistics services to our valued customers. We are confident that our relentless dedication and innovative approach will continue to propel us forward in the dynamic logistics landscape,” Mr. Agarwal added.

Result PDF

Logistics company TCI Express announced Q2FY23 results:

  • H1FY23 vs. H1FY22:
    • Revenue from operations of Rs. 600 crore, growth of 20.9% YoY
    • EBITDA of Rs. 98 crore compared to Rs. 81 crore in H1FY22
    • EBITDA Margin remains strong at 16.3%
    • PAT of Rs. 69 crore compared to Rs. 58 Core in H1FY22
    • PAT Margin at 11.4% compared to 11.6% in H1FY21
  • Q2FY22 vs. Q2FY21:
    • Revenue from operations of Rs. 310 crore, 13.3% of YoY growth
    • EBITDA of Rs. 54 crore compared to Rs. 48 crore in Q2FY22
    • EBITDA margin at 17.2 % compared to 17.3% in Q2FY22
    • PAT of Rs. 38 crore compared to Rs. 34 Cores in Q2FY22
    • PAT Margin at 12.1% compared to 12.3% in Q2FY22

Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “Q2 FY2022 started on a positive note with strong economic and business activities. The recovery trend was visible in many internal & external economic indicators and parameters. During the quarter, we saw an overall improvement in the output for the month of July with a marginal decline in August primarily due to a decline in the manufacturing and mining sector. The E-Way bills generation, a key parameter that measures the performance of the logistics sector, grew by 152% over the pre-Covid period (October 2019-February 2020) in September reaching 7.6 crore.

As regards the financial performance of the quarter, TCI Express, being the market leader in express logistics, delivered the highest quarterly revenue of Rs. 312 crores, registering a growth of 13.2% YoY and 6.8% on a sequential basis, primarily driven by growing SME customers, higher volume across the services. Automation of the sorting centres substantially increases the daily capacity by reducing parcel handling time, vehicle halting time and labour involvement resulting enhancement of overall operational efficiency and strong sustainable margin.

EBITDA for the quarter was Rs. 54 crores with a strong margin of 17.2% as compared to 15.3% in the preceding quarter. The EBITDA and margins growth was primarily on account of higher capacity utilization and operational efficiencies. Our Profit after Tax stood at 38 crore with a margin of 12.1% compared to a margin of 10.6% in Q1 FY23. In view of our strong performance in the first half of the year, I am pleased to announce that the Board of Directors has recommended an interim dividend of Rs. 3 per share with a pay-out of 150% on the face value.

On the investment side, during the first half of the year, we have incurred a total Capex of Rs.50 crores primarily invested for land purchase in Kolkata for setting up an automated sorting centre and network expansion by adding 22 new branches to serve a growing market. The ongoing automation and digitization will enable us to be much more efficient in delivering superior customer experiences and enhance operational efficiencies in the long run which enable us to deliver industry-leading performance.

Our newly launched services are going from strength to strength. We expect the service offerings to contribute productively to the top line in the forthcoming quarters enabling us to deliver higher margin levels. Looking ahead, the logistics industry remains poised to grow strong as the growth of the sector is fully aligned with India’s economic growth potential. The recently launched ‘PM Gati Shakti National Master Plan’ by our Prime Minister for multimodal infrastructure connectivity to economic zones will get a further boost with the launch of the National Logistics Policy. The policy will help significantly in terms of transportation, warehousing, and inventory management by creating a roadmap for enabling a seamless, integrated, reliable, and green logistics network, to usher in a greater degree of competitiveness in the market. This will pave way for putting the Indian logistics industry on par with the international players. With a major policy push by the government and aided by strong economic recovery, we remain confident in our ability to provide high-quality, reliable, time-critical services. We would thus be leveraging on the growing opportunities to drive value for our shareholders and deliver sustainable growth.”

 

Result PDF

Transportation - Logistics firm TCI Express Announced Q1FY23 Result :

  • TCI Express Entered into New Fiscal Year on a Strong Note Revenue of Rs. 292 Cr, up by 30.2%, EBITDA up by 32.6% and Net Profit up by 30.5% on YoY
  • Total Income of Rs. 292 Crores, growth of 30.2% YoY
  • EBITDA of Rs. 45 Crores, growth of 32.6% YoY
  • EBITDA margin at 15.3% compared to 15.0%
  • PAT of Rs. 31 Crores compared to Rs. 24 Crores, growth of 30.5% YoY
  • PAT Margin at 10.6% remained flat

Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “TCI Express recorded another quarter of strong performance with Revenue of Rs. 292 crores, a growth of 30% on year on year basis. This growth was led by continued uptick in the economic activity and pick up in Industrial production which was subdued in comparative period due to second wave of Covid-19. In addition, the demand was well supported by growth in our both Corporate and SME customers which contributes equally to the total revenues. Our EBITDA for the quarter stood at Rs. 45 crores, a growth of 32.6% YoY with margins of 15.3%. The margins were slightly lower compared to the previous quarter due to increase in employee cost as we are building team for our newly launched services. However, we expect margins to improve in the coming quarters with pick up in utilization levels. Profit after Tax stood at Rs. 31 crore, a growth of 30.5% YoY with margin of 10.6%.

To further expand our presence among the SME customers, we have added 10 new branches during the quarter in the West and North region and we expect to add around 50 branches during the full fiscal year. We have also incurred a capex of Rs. 33 crores primarily towards the land purchase in Kolkata for setting up automated sorting centre. The recently launched Gurgaon sorting centre is now operational 24x7, and we expect it to reduce turnaround time and enhance operational efficiencies in the long run resulting into reduction of direct cost. In June 2022, we around 18% of the total tonnage has been have processed from Gurgaon centre which reflects the scale and capabilities of the centre. Among our newly launched services, we are seeing strong demand for Rail Express service offering and we have expanded our customer base from 250 to 1000 and presence from 10 routes to 60 routes in one year. Our dedicated team intend make significant progress during the year and meaningful contribution is expected in full fiscal. Looking ahead, we remain confident of delivering strong quarter on quarter growth in the light of upcoming festive season and remain on track to deliver annual growth target of 18-20%.”

Result PDF

Transportation and Logistics firm TCI Express declares Q4FY22 result:

  • Highest ever annual Revenue of Rs. 1,090 Cr, and Generated Profits of Rs. 129 Cr, both registering a growth of 28% on YoY
  • The Board of Directors recommended a dividend of Rs. 2 per share in Q4 FY22 taking total dividend of Rs. 8 per share in FY22, representing a payout of 400 % on the face value
  • In addition, the Board, has also approved the buyback amounting ~Rs. 75 Crores through an open offer at an indicative price of Rs. 2,050 per share, subject to shareholders approval
  • Total Income of Rs. 1,090 Crores, growth of 28% YoY
  • EBITDA of Rs. 183 Crores compared to Rs. 142 Crores
  • EBITDA margin at 16.8% compared to 16.7%
  • PAT of Rs. 129 Crores compared to Rs. 101 Cores
  • PAT Margin remain strong at 11.8%
  • Total Income of Rs. 300 Crores, growth of 6.2% YoY and 3.9% sequentially
  • EBITDA of Rs. 52 Crores compared to Rs. 57 Crores
  • EBITDA margin at 17.4% compared to 20.3%
  • PAT of Rs. 36 Crores compared to Rs. 43 Cores
  • PAT Margin at 12.0% compared to 15.1%

Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “The last quarter of the fiscal year ended on an overall positive note, economy continued to move forward on the recovery path and broad-based improvement was visible across industries. Index for Industrial Production and E-way bill generated during the quarter, prime indicators of industrial activity, showed a healthy growth on YoY basis, despite few initial challenges in the month of January 2022.

In Q4, TCI Express continued to deliver strong performance and reported Revenue from Operations of Rs. 298 crores, registering a growth of 6.6% on YoY and 3.9% on a sequential basis. Some operating constraints were present in January due to regional restrictions, but these were offset with subsequent recovery and strong demand from SME customers and TCI Express has once again delivered highest revenue in the quarter.

EBITDA for the quarter stood at Rs. 52 crores, registering a sequential growth of 6.2% with margins of 17.4%. Operating profitability remained strong supported by higher capacity utilization, enhanced operational efficiencies and cost pass through arrangements with vendors. Profit after Tax stood at Rs. 36 crore with margin of 12.0%."

 

Result PDF

Transportation - Logistics company TCI Express Limited declares Q3FY22 result:

  • Delivered highest ever quarterly Revenue of Rs. 287 Cr, an increase of 9.3% on YoY and 4.9% on sequential basis
  • Announced 2nd quarterly Dividend of Rs. 3 per share, taking 9 months dividend to Rs. 6 per share representing payout of 300% on the face value for 9M FY2022
  • Revenue from operations of Rs. 783 Crores, growth of 39% YoY
  • EBITDA of Rs. 131 Crores compared to Rs. 85 Crores
  • EBITDA margin at 16.5% compared to 14.9%
  • PAT of Rs. 93 Crores compared to Rs. 58 Cores
  • PAT Margin at 11.8% compared to 10.2%
    Performance Highlights: Q3 FY2022 vs. Q3 FY2021
  • Revenue from operations of Rs. 287 Crores, growth of 9.3% YoY and 4.9% sequentially
  • EBITDA of Rs. 49 Crores compared to Rs. 47 Crores
  • EBITDA margin at 17.0% compared to 17.8%
  • PAT of Rs. 35 Crores compared to Rs. 34 Cores
  • PAT Margin at 12.2% compared to 12.7%

Commenting on the performance, Mr. Chander Agarwal, Managing Director, said: “Q3 FY2022 was a mixed quarter, we continued to see quicker recovery across industries with the businesses started reaching near pre-covid levels and the economic activities began to normalize. In October, the demand picked up during the festive season and the Index for Industrial Production registered strong month-on-month growth coupled with the higher E-way bill generation. However, in November, the e-way bills declined to five months low as demand moderated after the festivities, but recovery was again visible in the month of December.

During the quarter, the Company delivered highest ever quarterly Revenue from Operations of Rs. 287 crore, registering a growth of 9.3% on Y-o-Y and 4.9% on a sequential basis. EBITDA for the quarter stood at Rs. 49.3 crore, registering a sequential growth of 4.8% with margin of 17%. Margins remained stable backed by higher capacity utilization and operational efficiencies. Our Profit after Tax stood at 35 crore with margin of 12.2%. On a nine-month basis, TCI Express delivered Revenue from Operations of Rs. 783 crore, growth of 39%, EBITDA of Rs. 131 crore, growth of 55% and Profit after Tax of 93 crores, growth of 60% on year-on-year basis. In the light of strong performance during the first nine months of the year, the Board of Directors has recommended a 2nd interim dividend of Rs 3 per share for the quarter, taking total dividend to Rs. 6 per share for the 9M FY22, representing a payout of 300% on the face value and 24.8% on the EPS.

The construction of Gurgaon sorting centre is going as per plan and is expected to be fully operational in February 2022. I would like to highlight that we will be the first B2B express delivery company in India to install Conveyor Belt system for heavy cargo at our Gurgaon sorting centre. This will help in reducing truck halting time by around 40%, which will improve overall operational efficiency. During the quarter, we have also added 5 new branches mainly in the South and North region to penetrate deeper in the key growing markets. Our recently announced new offerings TCI Express Limited TCI House 69, Institutional Area, Sector - 32 Gurugram - 122001, Haryana, India Press Release January 28, 2022 are getting good traction among the customers, especially Rail Express where we continue to see new customer acquisitions. Looking ahead, we expect there will be a temporary impact of the Omicron variant on the logistics industry and quicker recovery is anticipated in the coming months. TCI Express is well positioned to meet the growing demand and ensure higher operational efficiencies to maintain its profitability margins and close a year on a strong note.”

Result PDF

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