TCI Express Limited , a leading express delivery services provider in India, has released its financial results for the first quarter of fiscal year 2026, revealing a slight decline in revenue amid challenging market conditions.

Financial Performance

For Q1 FY2026, TCI Express reported:

• Total income of Rs. 290.20 crore, down 1.7% from Rs. 295.30 crore in Q1 FY2025
• EBITDA of Rs. 33.40 crore, with a margin of 11.5%, compared to Rs. 35.80 crore and 12.1% margin in the same quarter last year
• Profit After Tax (PAT) of Rs. 21.00 crore, representing a 9.0% decrease from Rs. 23.10 crore in Q1 FY2025

Operational Highlights

Despite the revenue decline, TCI Express demonstrated resilience in its operations:

• Maintained stable direct costs in the Surface Express segment from April to June 2025
• Achieved 82% capacity utilization during the quarter
• Added 10 new branches, enhancing operational footprint and service reach
• Commissioned advanced sorting centers in Nagpur, Raipur, and Indore, spanning over 2 lakh sq. ft.
• Recorded 33.25% year-on-year growth in the International Air Express segment
• Invested Rs. 12.90 crore in capital expenditure for network expansion and IT infrastructure

Segment Performance

The company reported mixed performance across its business segments:

• Surface Express remained the largest contributor to overall business
• Rail Express continued network enhancement efforts
• Domestic Air Express expanded last-mile connectivity
• C2C Express segment grew by over 14% compared to the previous year

Management Commentary

Mr. Chander Agarwal, Managing Director of TCI Express, commented on the results: "Q1 FY2026 marked a steady beginning for TCI Express, with the Company sustaining its momentum through a disciplined operational approach and continued investments in network expansion. The performance during the quarter reflected a balanced contribution from all service verticals, supported by evolving customer needs, growing demand across industrial segments and the Company's strategic focus on multimodal logistics."

Market Challenges

The company faced several headwinds during the quarter:

• Modest domestic volume growth across key auto segments
• Elevated freight rates due to sustained operational costs
• Inflationary labor costs and higher compliance-related expenses

Future Outlook

Looking ahead, TCI Express plans to:

• Expand infrastructure and strengthen service capabilities
• Replicate automation technologies at upcoming facilities
• Expand its network of branches, service points, and delivery centers
• Drive growth in the Multimodal segment through dedicated sales initiatives
• Target complex sectors like Aerospace and Engineering
• Scale its Air Express network to extend coverage beyond metros

Corporate Developments

The company also announced several changes in its senior management:

• Appointment of Mr. Shivi Suri as Chief Operating Officer-Air Cargo (International & Domestic)
• Change in designation of Mr. Pabitra Mohan Panda to Chief Business Officer
• Change in designation of Mr. Ashok Kumar Pandey to Regional Express Manager

Additionally, TCI Express reconstituted its Board committees following the appointment of Mr. Phool Chand Sharma as an Independent Director and the demise of Mr. Ashok Kumar Ladha.

Despite the challenging market conditions, TCI Express remains focused on long-term value creation through service excellence, innovation, and strategic execution in the evolving logistics landscape.

TCI Express , a leading express delivery services provider, has released its financial results for the fourth quarter, revealing a mixed performance with notable declines in key metrics. Additionally, the company has announced a dividend of 2 rupees per share.

EBITDA Performance

The company reported an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of ₹265.00 million for Q4, marking a significant decrease from ₹448.00 million in the same quarter of the previous year. This represents a year-over-year decline of approximately 40.85%.

Margin Compression

Accompanying the EBITDA decline, TCI Express experienced a substantial compression in its EBITDA margin. The Q4 EBITDA margin stood at 8.63%, down from 14.05% in the corresponding quarter last year, indicating a reduction of 542 basis points.

Net Profit Analysis

The company's bottom line also faced pressure, with net profit for Q4 coming in at ₹194.00 million. This figure represents a notable decrease from ₹316.00 million reported in the same period last year, translating to a year-over-year decline of about 38.61%. However, on a sequential basis, the net profit showed a marginal improvement from ₹192.00 million in the previous quarter.

Revenue Uncertainty

While TCI Express disclosed that its Q4 revenue in the previous year was ₹3,200.00 million, the company did not provide the current quarter's revenue figure in this release. This omission creates some uncertainty regarding the company's top-line performance for the most recent quarter.

Dividend Announcement

In a separate development, TCI Express has declared a dividend of 2 rupees per share. However, no additional details about the dividend, such as the fiscal period or payment date, were provided in the announcement.

Financial Table

The financial results of TCI Express for Q4 reflect challenges in maintaining profitability and margins compared to the previous year. The significant declines in EBITDA and net profit, coupled with margin compression, suggest that the company may be facing headwinds in its operating environment. The absence of current revenue figures adds an element of uncertainty to the overall financial picture for the quarter.

Investors and analysts will likely be keen to understand the factors contributing to these declines and any strategies the company plans to implement to address these challenges in the coming quarters. The announcement of a dividend may provide some positive sentiment, although more details would be needed to fully assess its impact.