TCI Express has released the official transcript of its Q3FY26 earnings conference call held on February 3, 2026, providing detailed insights into the company's financial performance and strategic outlook. The express logistics leader reported strong quarterly results with net profit growing 10.6% year-on-year to ₹22.88 crores and declared an interim dividend of ₹7.00 per equity share.

Q3FY26 Financial Highlights

During the earnings call, management highlighted the company's robust financial performance for the quarter ended December 31, 2025. Revenue from operations increased 6.0% to ₹314.05 crores compared to ₹296.32 crores in Q3FY25, while total income reached ₹317.13 crores. The company achieved an EBITDA of ₹37 crores with a margin of 11.6%, and profit after tax stood at ₹23 crores with a margin of 7.2%.

Business Segment Performance

Managing Director Chander Agarwal emphasized the company's diversified growth strategy during the call. Surface Express, the largest revenue contributor, resumed growth following customer additions and higher wallet share from enterprise accounts. The Rail Express segment delivered impressive 24% year-on-year growth, aided by higher pharma volumes and technology improvements.

Air Express business showed strong momentum with domestic operations growing 14% year-on-year and international Air Express recording 28% growth. The C2C Express segment scaled further with 32% year-on-year growth, while the E-commerce Express business continued gaining traction with consistent volumes and stable profitability.

FY27 Growth Outlook and Strategic Initiatives

CFO Mukti Lal outlined ambitious targets for FY27, projecting 15% plus volume growth combined with 2% price hikes to achieve 17-18% revenue growth. The company expects PAT level growth of 20% plus, supported by expanding capabilities across different service verticals. Management highlighted ongoing investments in creating separate infrastructure for rail, air, and C2C services.

The company revised its five-year capital expenditure plan from ₹500 crores to ₹400 crores, with the remaining ₹150 crores to be deployed over the next 1.5 years ending FY27. Current capacity utilization stands at 83.25%, with management indicating potential to reach 85-86% without compromising service levels.

Operational Metrics and Market Position

During the call, management revealed key operational insights including the addition of over 300 employees during the nine-month period to align with network expansion requirements. The company maintains a balanced customer mix with SME customers contributing 49% of revenue and institutional clients providing the remaining share. Top 25 customers contribute less than 15% of total revenue, ensuring low customer concentration risk.

Working capital management remained stable with receivable days at 60, payable days at 39, resulting in a net working capital cycle of 21 days. The company continues operating with a debt-free balance sheet and maintains a strong net cash position of ₹146 crores.

Industry Recognition and Future Strategy

The company received multiple certifications during the quarter, including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, reflecting focus on quality, environmental responsibility, and workplace safety. TCI Express was also certified as a Great Place to Work for the sixth consecutive year and recognized as India's most preferred brand for 2025-2026.

Looking ahead, management emphasized continued focus on strengthening core surface network, expanding multimodal capabilities, and deepening engagement across key customer segments. The company remains well-positioned to navigate demand variability while pursuing sustainable growth through its asset-light model and disciplined execution strategy.

TCI Express Limited has announced a board meeting scheduled for February 3, 2026, to deliberate on the company's third quarter financial performance and potential interim dividend declaration. The meeting represents a continuation of the company's regular financial disclosure process as outlined in their earlier communication dated January 10, 2026.

Board Meeting Agenda

The primary agenda for the February 3, 2026 board meeting includes consideration and approval of unaudited financial results for both standalone and consolidated operations. The financial results will cover the third quarter and nine months period ended December 31, 2025.

Interim Dividend Consideration

The board may also consider and recommend an interim dividend on the equity shares of the company for financial year 2025-26. Should the board decide to declare an interim dividend, the record date has been predetermined as February 7, 2026, following consultation with stock exchanges.

Trading Window Closure

TCI Express Limited has reiterated that the trading window for dealing in the company's equity shares remains closed. The closure period, as communicated in the company's letter dated December 27, 2025, extends from January 1, 2026, and will continue until 48 hours after the communication of the financial results.

Regulatory Compliance

The announcement serves as the company's disclosure requirement under the provisions of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. The communication was signed by Priyanka, Company Secretary & Compliance Officer, and dated January 26, 2026.