Transport Corporation of India LimitedQuarter Ended 30-Sep-2026 Results & Financial Update
Transport Corporation of India Limited: Quarter Ended 30-Sep-2026 consolidated results and company financials – revenue ₹1,388.00 Cr, PAT ₹116.90 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Transport Corporation of India Quarter Ended 30-Sep-2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Transport Corporation of India reported consolidated revenue of ₹1,388 crore for the second quarter ended September 30, 2026, marking an increase compared to the same period in the previous financial year.
Consolidated Profit after Tax (PAT) reached ₹116.9 crore for the quarter, representing a 3.0% growth over the ₹113.5 crore recorded in the corresponding quarter of the previous year.
Managing Director Vineet Agarwal noted that the group's integrated multimodal model across road, rail, coastal shipping, warehousing, and technology continues to capture expanding trade and consumption flows across India.
Operational performance benefited from healthy traction in third-party logistics (3PL), warehousing, and multimodal freight movement, supporting lower-emission long-haul transportation across customer sectors.
The company continued its strategic focus on technology integration, utilizing ULIP-enabled platforms for real-time customer visibility while scaling artificial intelligence-driven forecasting, route optimization, and operational automation.
Management highlighted a constructive outlook for upcoming quarters as festive-season demand builds across consumption-led sectors, underpinned by ongoing capital allocation toward multimodal infrastructure and green logistics.
Transport Corporation of India reported a consolidated revenue of ₹1,388 crore (₹13,979 Mn) for the second quarter ended September 30, 2026, marking a 15.2% year-on-year increase from ₹1,204.9 crore in the corresponding period of the previous year.
01 · Business model
What does Transport Corporation of India do?
Transport Corporation of India Limited (TCI) is a leading integrated multimodal logistics and supply chain solutions provider in India, operating with an extensive network of company-owned offices and managing over 17 million square feet of warehousing space.
The company's primary business model spans multiple revenue engines across surface transport, supply chain consulting, coastal shipping, warehousing, and specialized vertical logistics, leveraging road, rail, and maritime routes to move cargo of all dimensions.
TCI's operational structure is divided into dedicated specialized entities and divisions, including TCI Freight for surface transport, TCI Supply Chain Solutions (SCS) for end-to-end network design and warehousing, and TCI Seaways, which operates a fleet of six ships for coastal container and bulk cargo.
The enterprise also addresses niche industry requirements through specialized subsidiaries and joint ventures such as TCI Chemlog for hazardous and non-hazardous chemical transport, TCI Cold Chain Solutions for temperature-controlled warehousing, TCI CONCOR Multimodal Solutions, and Transystem Logistics International serving automotive manufacturers.
02 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended 30-Sep-2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹1,388.00 Cr | ₹1,204.90 Cr | — |
| Total income | ₹1,397.90 Cr | ₹1,217.40 Cr | ₹1,254.63 Cr |
| Profit before tax | ₹129.90 Cr | ₹126.00 Cr | ₹142.27 Cr |
| Profit after tax | ₹116.90 Cr | ₹113.50 Cr | ₹106.58 Cr |
| EPS | ₹15.08 | ₹14.69 | ₹13.83 |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue expansion was supported by healthy activity across road, rail, and coastal movement, providing efficient long-haul logistics solutions.
Demand from fast-growing retail channels including e-commerce, quick commerce, and omni-channel retail contributed to revenue generation across the expanding warehouse and hub network.
Consolidated revenue reached ₹13,979 Mn in Q2 FY2027, up 14.8% from ₹12,174 Mn in Q2 FY2026, driven by broad-based volume growth across multimodal transport and warehousing.
Growth was underpinned by healthy activity across 3PL, warehousing, and combined rail-road-coastal logistics channels serving consumption and trade flows.
What drove margins
Management noted that deployment of automation, route optimization, and AI-led forecasting helped improve service quality and operational cost efficiency.
Consolidated EBITDA expanded by 8.3% year-on-year to ₹1,759 Mn, reflecting operational leverage and efficiency gains from route optimization and automation.
04 · Demand, customers & order book
Where demand is coming from
The company serves diverse customer segments across consumption-led sectors, automotive manufacturing, chemicals, pharmaceuticals, and temperature-sensitive industries.
The company serves diverse sectors including e-commerce, quick commerce, omni-channel retail, automotive, chemicals, agriculture, and life sciences through long-standing customer relationships.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Operates as the primary surface transport entity handling Full Truck Load (FTL), Less than Truck Load (LTL), small packages, and Over Dimensional Cargo (ODC).
Maintains a fleet of six ships catering to coastal container and bulk cargo requirements, connecting western, eastern, and southern Indian ports.
Provides single-window integrated supply chain services including consulting, inbound logistics, warehousing, distribution center management, and outbound logistics.
Geography and market mix
Operations connect major industrial and consumption centers across India through integrated road, rail, and coastal shipping routes.
Operations span an extensive network of company-owned offices across India, with coastal shipping connecting western, eastern, and southern maritime ports.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
TCI Seaways operates a dedicated fleet of six ships, while the group overall manages a warehousing footprint exceeding 17 million square feet.
TCI manages over 17 million square feet of warehousing space and operates a specialized multimodal fleet including ISO tanks, gas tankers, flexi tanks, and six coastal cargo ships.
Projects, capex and execution
Management stated intentions to continue investing in multimodal infrastructure, hubs, and digital capabilities to support long-term operational scale.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company is scaling ULIP-enabled digital integration to offer real-time shipment visibility alongside AI-driven forecasting and warehouse automation.
08 · Reported developments
What changed operationally
Consolidated EBITDA increased by 8.3% year-on-year to ₹175.9 crore, and PAT grew 3.0% year-on-year to ₹116.9 crore for Q2 FY2027.
Consolidated quarterly revenue grew 14.8% year-on-year to ₹13,979 Mn, while EBITDA and PAT expanded by 8.3% and 3.0% respectively.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Corporate Expansion and ESG Focus
TCI continues to emphasize green logistics initiatives and lower-emission long-haul transportation via rail and coastal shipping alongside digital transformation.
10 · Key Q&A
The quarter, answered directly
What does Transport Corporation of India do?
Transport Corporation of India Limited (TCI) is a leading integrated multimodal logistics and supply chain solutions provider in India, operating with an extensive network of company-owned offices and managing over 17 million square feet of warehousing space.
What is the clearest takeaway from Quarter Ended 30-Sep-2026?
Transport Corporation of India reported consolidated revenue of ₹1,388 crore for the second quarter ended September 30, 2026, marking an increase compared to the same period in the previous financial year.
What drove revenue or demand?
Revenue expansion was supported by healthy activity across road, rail, and coastal movement, providing efficient long-haul logistics solutions.
What mattered most for margins or profitability?
Management noted that deployment of automation, route optimization, and AI-led forecasting helped improve service quality and operational cost efficiency.
What changed operationally beyond the headline numbers?
TCI Seaways operates a dedicated fleet of six ships, while the group overall manages a warehousing footprint exceeding 17 million square feet.
What should the next disclosure help confirm?
Monitor volume growth and execution across consumption-led sectors and fast-growing retail channels in subsequent quarters.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Festive-season demand realization: Monitor volume growth and execution across consumption-led sectors and fast-growing retail channels in subsequent quarters.
- 02
Multimodal infrastructure expansion: Track the commissioning and utilization of new warehouse hubs and modal integration projects.
- 03
Multimodal Expansion Progress: Track further deployment of capex into warehousing infrastructure, fleet additions, and digital technology integration.
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