GURUGRAM, India, June 1, 2026 /PRNewswire/ — TCI Express Ltd. (“TCI EXPRESS”, NSE: TCIEXP; BSE: 540212), India’s leading express distribution company, today announced its audited financial results for the quarter and year ended March 31, 2026.
During FY2026, the Company handled more than one million tonnes of cargo and maintained its debt-free balance sheet, reflecting the scale, resilience and financial strength of its operations. The Company also crossed the ₹10 billion balance sheet milestone during the year. TCIEXPRESS continued to expand its multimodal logistics network across Surface, Rail, Domestic Air, International Air, C2C and E-Commerce segments through network expansion, technology integration and service enhancements.
The Company delivered steady business momentum during the year, supported by customer additions, growing traction across key industrial sectors and continued adoption of digital logistics solutions. Despite a challenging operating environment, TCI EXPRESS maintained stable EBITDA and PAT margins through strong execution, network optimisation and prudent cost management.
Commenting on the performance, Mr. Chander Agarwal, Managing Director of TCI EXPRESS, said:
“TCI EXPRESS continued its positive business momentum during Q4 FY2026, delivering sequential improvement and maintaining growth for the second consecutive quarter. Demand remained encouraging across sectors such as pharmaceuticals, automotive, engineering, renewable energy and SME-led shipments. While the operating environment remained challenging due to geopolitical tensions in West Asia, elevated airline ATF prices, rising labour costs and temporary disruptions arising from voter-related SIR activities across select markets, our diversified multimodal network and customer-centric approach enabled us to deliver resilient performance while maintaining stable margins.”
“Surface Express remained the largest contributor to our business during the quarter, supported by customer additions, stronger traction across industrial shipments and growing demand from key sectors. During the quarter, we expanded our branch network and strengthened our last-mile delivery capabilities across key regions. We also commissioned the upgraded Nagpur sorting centre with enhanced handling capacity and improved processing efficiency, positioning us to support higher cargo volumes and faster turnaround times.”
“Our other business verticals also delivered encouraging performance. Rail Express recorded strong growth driven by increasing adoption of rail-based cargo movement and expansion across key long-haul corridors. Domestic Air Express continued to benefit from improved airport connectivity, route optimisation and growing movement of pharmaceutical and temperature-sensitive cargo. International Air Express further expanded its global reach through customer additions, international partnerships and cargo consolidation initiatives. The C2C and E-Commerce Express segments also maintained healthy momentum, supported by higher industrial movement, D2C volumes and the continued expansion of last-mile delivery operations.”
“FY2026 was an important milestone year for TCI EXPRESS as we crossed the ₹10 billion balance sheet milestone and handled more than one million tonnes of cargo during the year. These achievements reflect the scale of our operations, the strength of our network and the trust placed in us by our customers. We continued to maintain a debt-free balance sheet while remaining focused on operational efficiency, liquidity management and disciplined capital allocation. Reflecting our strong financial position and commitment to shareholder value creation, the Company also declared a higher dividend during the year.”
“Looking ahead, we remain focused on strengthening its multimodal logistics capabilities, expanding technology-enabled operations and enhancing customer engagement across service verticals. Our priorities include infrastructure expansion, scaling rail-led logistics solutions, increasing automation, specialised cargo movement and further development of our B2C network. While geopolitical uncertainties and elevated fuel prices may continue to create near-term challenges for the logistics sector, we remain confident in our long-term growth opportunities and committed to delivering reliable, efficient and customer-centric logistics solutions.”
Performance Highlights: Q4 FY2026 vs. Q4 FY2025
- Revenue from operations of ₹3.27 billion compared to ₹3.08 billion
- EBITDA of ₹0.37 billion compared to ₹0.34 billion
- EBITDA margin was 11.3%
- PAT of ₹0.21 billion with margin at 6.3%
Performance Highlights: FY2026 vs. FY2025
- Revenue from operations of ₹12.36 billion compared to ₹12.08 billion
- EBITDA of ₹1.46 billion compared to ₹1.43 billion
- EBITDA margin was 11.7%
- PAT of ₹0.90 billion with margin at 7.2%
Key Operational Highlights
- Rail Express recorded 35% growth in Q4 FY2026 driven by corridor expansion and growing adoption of rail-based cargo movement
- C2C Express recorded 21% growth in Q4 FY2026 supported by higher Express Full Trucking (EFT) movement, customer additions and regional expansion
- Domestic Air Express delivered 18% YoY growth in Q4 FY2026 supported by expanded airport connectivity, and increasing movement of pharmaceutical and temperature-sensitive cargo
- International Air Express strengthened global network capabilities through strategic international partnerships, cargo consolidation initiatives and JC Trans membership
- Expanded operational footprint with addition of new branches during the quarter, enhancing service reach across key markets
- Upgraded Nagpur sorting centre with enhanced handling capacity and improved processing efficiency, supporting higher cargo volumes and faster turnaround timelines
- E-Commerce operations maintained strong momentum supported by expansion of B2C last-mile delivery capabilities
- Continued investment in technology, ERP systems and digital visibility tools to enhance shipment tracking and customer experience
- Introduced Money Back Guarantee (MBG) services across Surface, Rail and Air shipments, reinforcing TCI EXPRESS’s commitment to time-definite deliveries
About TCI EXPRESS:
TCI EXPRESS is India’s leading time-definite express logistics company, offering integrated multimodal logistics solutions across Surface, Rail, Air, C2C and E-Commerce services. With over 970 company-owned branches covering 60,000+ locations, the Company provides reliable, technology-enabled and customer-centric logistics solutions across India and international markets. TCI EXPRESS operates through an asset-light and fully containerized model supported by automation, ERP-led operations and digital integration platforms to enhance operational efficiency and service reliability. The Company serves a diversified customer base across industries including automotive, pharmaceuticals, engineering, defense, renewable energy, consumer goods, retail and e-commerce.
Safe Harbour:
This release contains statements that contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives and other statements relating to TCIEXPRESS’ future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. TCIEXPRESS undertakes no obligation to publicly revise any forward-looking statements to reflect future events or circumstances.
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SOURCE TCI Express Ltd.
