TCI Express Limited — Investor Meet, 12-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

TCI Express reported Q2 FY26 income of Rs. 312 Cr (PAT Rs. 25 Cr, 8.1% margin) and H1 income of Rs. 602 Cr (PAT Rs. 46 Cr, 7.7% margin). Q2 volumes were 2.5 lakh tons.

The Surface Express business was temporarily affected by GST rate cuts, but Rail Express grew 25% YoY and International Air Express by 40%. Management noted progress in multimodal services and secured a new EV client. Automation for Kolkata and Ahmedabad hubs is planned for mid-FY27. The company is debt-free and projects FY26 volume growth of 8% and revenue growth of 10%, with margins improving towards 12.5-13%. Sentiment is optimistic for an upward trajectory.