Transport Corporation of India Limited (IN:TCI)
:TCI
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Transport Corporation of India Limited
(TCI)
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Rating:62Neutral
Price Target:
₹954.00
▼(-10.25% Downside)
Action:Downgraded
Date:05/27/26
The score is supported primarily by sound financial fundamentals—especially a strong, low-leverage balance sheet and steady earnings growth—but is held back by weak technical momentum (price below all key moving averages with negative MACD) and inconsistent free-cash-flow conversion. Valuation is reasonable but the dividend yield offers limited support.
Positive Factors
Conservative Balance Sheet
A low debt-to-equity (~0.12) and equity growth from 11.70B (FY2021) to 25.66B (FY2026) provide durable financial flexibility. This conservative structure supports capex, working-capital needs and resilience through cycles, enabling strategic investments without forcing distressed financing.
Negative Factors
Volatile Free Cash Flow
Significant FCF variability—near breakeven in FY2025 then 0.97B in FY2026—reduces predictability of internally funded growth, dividends and debt reduction. Persistent cash conversion swings could force external financing or curtail strategic spending during weaker years.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
A low debt-to-equity (~0.12) and equity growth from 11.70B (FY2021) to 25.66B (FY2026) provide durable financial flexibility. This conservative structure supports capex, working-capital needs and resilience through cycles, enabling strategic investments without forcing distressed financing.
Read all positive factors
Transport Corporation of India Limited (TCI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹71.22B
Dividend Yield0.94%
Average Volume (3M)1.38K
Price to Earnings (P/E)15.6
Beta (1Y)0.85
Revenue Growth9.46%
EPS Growth11.60%
CountryIN
Employees3,896
SectorServices
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)56.42
Shares Outstanding76,743,800
10 Day Avg. Volume880
30 Day Avg. Volume1,377
Financial Highlights & Ratios
PEG Ratio1.37
Price to Book (P/B)2.76
Price to Sales (P/S)1.44
P/FCF Ratio73.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)69.98
Revenue Forecast (FY)₹54.62B
Transport Corporation of India Limited Business Overview & Revenue Model
Company Description
Established in 1958 and headquartered in Gurugram, India, Transport Corporation of India (TCI) delivers comprehensive, integrated supply chain and logistics solutions across the nation. The company's operations are segmented into its Freight, Supp...
How the Company Makes Money
TCI makes money by charging customers for logistics services delivered across its business segments. Key revenue streams typically include: (1) Surface/road transportation and distribution services, where TCI earns freight and service charges for ...
Transport Corporation of India Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
83
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.81B | 49.17B | 45.03B | 40.38B | 37.94B | 32.69B |
| Gross Profit | 5.75B | 5.74B | 5.95B | 5.34B | 5.32B | 4.97B |
| EBITDA | 5.15B | 6.50B | 4.66B | 4.19B | 4.33B | 4.16B |
| Net Income | 4.34B | 4.56B | 4.12B | 3.51B | 3.17B | 2.90B |
Balance Sheet | ||||||
| Total Assets | 30.78B | 34.82B | 27.80B | 25.01B | 21.01B | 18.27B |
| Cash, Cash Equivalents and Short-Term Investments | 3.03B | 3.15B | 2.56B | 4.14B | 2.58B | 826.16M |
| Total Debt | 2.53B | 3.12B | 2.42B | 1.94B | 918.80M | 962.27M |
| Total Liabilities | 6.48B | 8.75B | 5.89B | 4.64B | 3.69B | 3.69B |
| Stockholders Equity | 23.91B | 25.66B | 21.55B | 20.04B | 17.02B | 14.30B |
Cash Flow | ||||||
| Free Cash Flow | 299.00M | 965.00M | 52.00M | 566.53M | 2.05B | 2.92B |
| Operating Cash Flow | 2.32B | 5.10B | 3.59B | 2.99B | 3.61B | 3.68B |
| Investing Cash Flow | -2.22B | -4.61B | -993.00M | -4.04B | -1.93B | -762.16M |
| Financing Cash Flow | 38.00M | -204.00M | -2.92B | 176.43M | -654.70M | -2.58B |
Transport Corporation of India Limited Technical Analysis
Negative
1062.95
Price Trends
935.93
Negative
971.55
Negative
1042.08
Negative
Market Momentum
1.51
Positive
47.47
Neutral
29.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TCI, the sentiment is Negative. The current price of 1062.95 is above the 20-day moving average (MA) of 937.15, above the 50-day MA of 935.93, and above the 200-day MA of 1042.08, indicating a bearish trend. The MACD of 1.51 indicates Positive momentum. The RSI at 47.47 is Neutral, neither overbought nor oversold. The STOCH value of 29.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TCI.
Transport Corporation of India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹348.36B | 226.73 | ― | ― | 17.65% | -6.32% | |
65 Neutral | ₹20.51B | 24.40 | ― | 1.37% | 2.41% | -2.48% | |
62 Neutral | ₹71.22B | 15.61 | ― | 0.94% | 9.46% | 11.60% | |
60 Neutral | ₹58.15B | 50.77 | ― | ― | 10.08% | ― | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹36.48B | -1,840.00 | ― | 0.69% | 14.65% | 95.50% | |
48 Neutral | ₹12.21B | -8.76 | ― | 19.52% | -66.71% | -356.19% |
* Services Sector Average
IN:TCI
Transport Corporation of India Limited
928.00
-189.91
-16.99%
IN:ALLCARGO
Allcargo Logistics Limited
8.15
-4.67
-36.43%
IN:DELHIVERY
Delhivery Limited
465.20
80.25
20.85%
IN:MAHLOG
Mahindra Logistics Ltd.
367.65
61.93
20.26%
IN:TCIEXP
TCI Express Ltd.
533.80
-216.15
-28.82%
IN:TVSSCS
TVS Supply Chain Solutions Ltd.
131.80
-4.10
-3.02%
Transport Corporation of India Limited Corporate Events
Transport Corporation of India Announces Trading Window Closure Ahead of FY26 Results
Mar 26, 2026
Transport Corporation of India Limited has announced that its trading window for dealing in company securities will be closed from April 1, 2026, in accordance with SEBI’s Prohibition of Insider Trading regulations and the firm’s inter...
TCI Shareholders Clear Key Related-Party Deal With CONCOR Subsidiary
Mar 16, 2026
Transport Corporation of India Limited reported that its shareholders have approved a material related-party transaction between its subsidiary TCI-CONCOR Multimodal Solutions and Container Corporation of India. The approval was obtained via posta...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.