Transport Corporation of India Limited has entered into a strategic collaboration with French company FLYING WHALES to revolutionize heavy-lift logistics solutions across India. The partnership was announced on February 17, 2026, with the MOU signed during the official summit between French President Emmanuel Macron and Prime Minister Narendra Modi.

Strategic Partnership Details

The collaboration brings together TCI, India's leading integrated logistics and supply chain solutions provider, with FLYING WHALES, a French-Canadian company developing the innovative LCA60T aeronautical program. The partnership was formalized in the presence of key executives from both organizations.

Revolutionary LCA60T Technology

The LCA60T represents a breakthrough in cargo transportation technology, featuring a rigid cargo airship design with exceptional capabilities. This innovative solution addresses critical logistics challenges in hard-to-reach areas while maintaining environmental sustainability.

Market Applications and Strategic Impact

The collaboration targets industries requiring transportation of large, over-dimensional equipment up to 60-ton parcels, particularly in remote and challenging locations. The applications span multiple critical sectors:

• Defense: Heavy lift logistics and emergency operations
• Energy/Power: Power transmission projects including HVDC inter-state transmission lines in Ladakh
• Infrastructure: Trans-Himalayan tunnel construction and border infrastructure development
• Disaster Relief: Emergency logistics for floods and natural disasters
• Healthcare Services: Medical equipment transportation to remote areas

Global Expansion Strategy

FLYING WHALES is advancing discussions to establish its third global hub in Tamil Nadu, India, under its "Three Pillars" strategy. This strategic positioning would make India the center for production and operational activities serving the Middle East and Asia-Pacific regions.

Leadership Perspectives

Mr. Vineet Agarwal, Managing Director of TCI, emphasized the partnership's alignment with national objectives: "TCI has consistently partnered with leading global and domestic organizations to provide state-of-the-art logistics solutions for our customers. Flying whales innovative technology will provide low carbon, efficient solutions to remotest locations thus accelerating PM Gati Shakti National Master Plan for Multi-modal connectivity."

Sébastien Bougon, President of FLYING WHALES, highlighted the collaboration's significance: "Marking our first strategic partnership in India, this collaboration with TCI is a pivotal step in FLYING WHALES' international expansion. By combining our LCA60T technology, the world's only solution for heavy-lift transport without ground infrastructure with TCI's unparalleled logistical expertise, we are providing a tangible answer to India's connectivity and ecological transition challenges."

Company Profiles

TCI operates as India's leading $1.5 billion diversified logistics group, managing 2% of India's GDP by cargo value annually. The company maintains a nationwide multimodal network across road, rail, coastal, air, and warehousing operations, supported by nearly 1400 offices, hubs, yards, and warehouses.

FLYING WHALES, originally designed to meet renewable wood resource exploitation needs in hard-to-reach areas, has expanded its vision to address global logistical challenges with minimal environmental impact. The company is also developing FLYING WHALES SERVICES as the operating subsidiary for LCA60T operations.

Transport Corporation of India Limited has issued a postal ballot notice seeking shareholder approval for material related party transactions worth up to Rs 5000 Million. The company filed the notice with stock exchanges on February 12, 2026, in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Transaction Details and Structure

The proposed transactions involve TCI-CONCOR Multimodal Solutions Pvt. Ltd., a subsidiary of Transport Corporation of India, and Container Corporation of India Ltd. The transactions are expected to aggregate up to Rs 5000 Million, excluding taxes, during the financial year 2025-26.

Previous Transaction History

The companies have maintained ongoing business relationships with substantial transaction volumes in recent periods:

Postal Ballot Process and Timeline

The company has appointed M/s. V K Bajaj & Associates through Partner Mr. V K Bajaj, Practicing Company Secretary, as scrutinizer for conducting the postal ballot through remote e-voting process. The voting will be conducted exclusively through electronic mode.

Regulatory Compliance and Approval Requirements

The transactions require shareholder approval under Regulation 23(4) of SEBI Listing Regulations as they exceed the materiality threshold specified in Schedule XII. The Audit Committee and Board of Directors have already provided their approval on February 04, 2026.

The proposed transaction value represents 12.4% of Transport Corporation of India's annual consolidated turnover and 144.8% of the subsidiary's annual standalone turnover for the immediately preceding financial year. Container Corporation of India reported a turnover of Rs 88,870.2 Million, profit after tax of Rs 12,918.4 Million, and net worth of Rs 123,801.9 Million for FY 2025.

Voting Eligibility and Process

Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as on the cut-off date of February 10, 2026, are eligible to vote. The postal ballot notice is being sent only through electronic mode to registered email addresses. Physical copies will not be distributed in compliance with MCA circulars.

The transactions are proposed to be conducted at arm's length basis and in the ordinary course of business. Related parties as defined under SEBI Listing Regulations will not be eligible to vote on this resolution. The resolution, if passed by requisite majority, will be deemed effective from the last date of remote e-voting.