TCI Express Limited has released the transcript of its Earnings Call for the quarter and financial year ended March 31, 2026. The call, held on May 29, 2026, featured management including Managing Director Mr. Chander Agarwal and CFO Mr. Mukti Lal. During the call, the management discussed the company's performance in Q4 FY26, noting sequential improvement and a continued growth trajectory. Despite challenging operating conditions due to geopolitical tensions, elevated fuel prices, and higher labor costs, the company focused on service reliability, network efficiency, and customer-centric execution. The Surface Express business remained the largest contributor, supported by customer additions and improved traction across industrial and SME shipments. The company also highlighted the expansion of its last mile delivery network and the commencement of operations at the upgraded Nagpur sorting center. Financial highlights for Q4 FY26 included a revenue of ₹327 crore (a 6% year-on-year growth) and EBITDA of ₹37 crore (an 11% year-on-year growth), with a 11.3% EBITDA margin. Profit after tax stood at ₹21 crore. For the full year FY26, total income was ₹1,236 crore, EBITDA was ₹146 crore (11.7% margin), and profit after tax was ₹90 crore (7.2% PAT margin). The company maintained a debt-free balance sheet with a net cash position of approximately ₹136 crore as of March 2026. Capital expenditure for the year was ₹67 crore, primarily for branch expansion, sorting center construction, and technology enhancements. The management addressed concerns about growth and margins, attributing slower growth to business cycles and external factors like geopolitical tensions and fuel price volatility. They expressed confidence in achieving double-digit revenue growth in FY27 and improving margins through operational efficiency and strategic investments in multimodal logistics and technology. The company also discussed its ongoing investments in automation, with plans for Ahmedabad and Kolkata sorting centers to be automated by FY28.
