TCI Express disclosed an inter-se transfer of equity shares between promoter group entities, resulting in a reorganisation of the promoter group's shareholding. TCI Express Consolidated Limited acquired 1,23,900 equity shares, representing 0.32% of the total paid-up share capital, through the open market. Consequently, TCI Trading (Dharmpal Agarwal) disposed of an equivalent number of shares during the same period. The transactions were executed on June 29, 2026, and June 30, 2026, as per the disclosures submitted to the stock exchanges.

Shareholding Details

The transfer involved two entities belonging to the promoter group of TCI Express Limited. Following the transaction, TCI Express Consolidated Limited increased its holding to 1,71,82,133 equity shares, which constitutes 44.72% of the company's total voting capital. Conversely, the shareholding of TCI Trading (Dharmpal Agarwal) reduced to 23,63,597 equity shares, accounting for 6.15% of the total voting capital.

The disclosures were made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total equity share capital of the company remains unchanged at Rs. 7,68,37,980, divided into 3,84,18,990 equity shares of Rs. 2.00 each.

Transaction Breakdown

The following table details the changes in shareholding for the promoter group entities involved in the inter-se transfer:

The mode of acquisition was specified as an inter-se transfer by way of the open market. Ramesh Chand Pahuja, Authorised Signatory, signed the disclosures on behalf of both entities on July 1, 2026.

TCI Express Limited reported revenue of ₹327 crore for the quarter ended March 31, 2026, representing a year-on-year growth of 6%. Profit after tax for the quarter stood at ₹21 crore with a margin of 6.3%. For the full financial year FY26, the company recorded a total income of ₹1,236 crore and a profit after tax of ₹90 crore. The company released the transcript of its earnings call conducted on May 29, 2026, to discuss these audited standalone and consolidated financial results.

Financial Performance

The company achieved an EBITDA of ₹37 crore in Q4FY26, an 11% increase compared to the corresponding period of the previous year, with an EBITDA margin of 11.3%. For the full year, EBITDA reached ₹146 crore, reflecting a margin of 11.7%. TCI Express maintained a debt-free balance sheet with a net cash position of approximately ₹136 crore as of March 2026. The return on capital employed for FY26 was around 20%.

Operational Highlights

During the quarter, the company handled a volume of 267,000 tons, recording a 4% year-on-year growth. For the full year, TCI Express surpassed 1 million tons of cargo handled. The surface express business remained the largest contributor, while other verticals such as Rail Express and Domestic Air Express reported strong growth. Capacity utilization during the quarter was around 83.25%. The company incurred capital expenditure of ₹67 crore during the year, primarily towards branch expansion, construction of sorting centers, and technology enhancement.

Strategic Outlook

Looking ahead to FY27, the management has guided for a revenue growth of 15% and volume growth of 10%. The company aims to increase its EBITDA margin by 100 to 150 basis points. TCI Express plans to open 100 branches in the current financial year and continues to focus on strengthening its multimodal logistics capabilities. The transcript of the earnings call is available on the company's official website.

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