Integrated Filing — IndAS



General information about company

Scrip Code 540212
NSE Symbol TCIEXP
MSEI Symbol NOTLISTED
ISIN INE586V01016
Name of company TCI Express Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 27-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 17-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Express Cargo
Start date and time of board meeting 27-05-2026   13:00:00
End date and time of board meeting 27-05-2026   16:55:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 32,808.00 1,23,753.00
Other income 377.00 1,526.00
Total income 33,185.00 1,25,279.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 3,855.00 14,587.00
(e) Finance costs 121.00 213.00
(f) Depreciation, depletion and amortisation expense 930.00 2,574.00
(f) Other Expenses
1 Operating Expenses 23,464.00 88,697.00
2 Other Expenses 2,336.00 7,944.00
Total other expenses 25,800.00 96,641.00
Total expenses 30,706.00 1,14,015.00
3 Total profit before exceptional items and tax 2,479.00 11,264.00
4 Exceptional items (228.00) (228.00)
5 Total profit before tax 2,251.00 11,036.00
6 Tax expense
7 Current tax 779.00 2,756.00
8 Deferred tax (131.00) 137.00
9 Total tax expenses 648.00 2,893.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 1,603.00 8,143.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 1,603.00 8,143.00
17 Other comprehensive income net of taxes 385.00 369.00
18 Total Comprehensive Income for the period 1,988.00 8,512.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 768.00 768.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve 0.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.77 21.21
Diluted earnings (loss) per share from continuing operations 4.76 21.16
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.77 21.21
Diluted earnings (loss) per share from continuing and discontinued operations 4.76 21.16
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above audited Financial Results of the Company for the quarter and year ended 31st March 2026 were reveiwed by the Audit Committee and thereafter approved by the Board of Directors of the Company at their respective meetings held on 27th May 2026. The Statutory Auditors of the Company have carried out the audit of the above financial results. 2.These results have been prepared in accordance with the Companies (Indian Accounting Standards ) Rules, 2015 (Ind AS) prescribed under section 133 of the Companies Act 2013 and other recognised accounting practices to the extent applicable. 3.The figures for the quarter ended 31st March 2026 and peceeding quarter ended 31st March 2025 are the balancing figures between the audited year to date figures for the year ended 31st March and unaudited published figures for the nine month ended 31st December of the respective financial years. The figures for the corresponding previous periods have been regrouped and reclassified wherever necessary, to make them comparable. 4.The consolidated figures include financials of its subsidiaries. 5. Exceptional item represents the impairment of investment amounting to INR 2.28 crores for the quarter and year ended 31st March 2026. 6.During the financial year 2024-2025, the Additional Commissioner of Central Goods and Services tax. Gurugram Commissionerate had issued a demand order dated 14th December, 2024 and raised a GST tax liability of INR 51.36 crores, along with applicable interest and penalty for the period from 1st July, 2017 to 31st March, 2022. It states that the Assessee has not discharged its Goods and Service tax liability under Reverse Charge (RCM) on GTA supplies received from its transporters, thereby resulting in non-payment of GST. In response to the said demand order the company had preferred an appeal before the Commissioner (Appeals) CGST, which was rejected vide order dated 30th December 2025. Based on the underlying facts, applicable laws and industry standards, the Company is confident of prevailing against the department's position in the Appellate Proceedings and does not anticipate any adverse financial outcome. 7.As the Company's main business activity falls within a single primary Business segment viz. Express Cargo the disclosure requirements of Segment Reporting as per Indian Accounting Standard -108 are not applicable. 7.The figures for the corresponding previous periods have been regrouped and reclassified accordingly wherever necessary, to make them comparable.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 49,567.00
Capital work-in-progress 2,854.00
Investment property 0.00
Goodwill 27.00
Other intangible assets 123.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 294.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other financial Assets 911.00
2 Right of use assets 4,963.00
3 Other non-current financial assets 1,695.00
Total of other non-current financial assets 7,569.00
Total non-current financial assets 7,863.00
Deferred tax assets (net) 0.00
Other non-current assets
Total of other non-current assets
Total non-current assets 60,434.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 12,096.00
Trade receivables, current 23,865.00
Cash and cash equivalents 1,611.00
Bank balance other than cash and cash equivalents 393.00
Loans, current 33.00
Other current financial assets
Total of other current financial assets 3,483.00
Total current financial assets 41,481.00
Current tax assets (net) 560.00
Other current assets
Total of other current assets
Total current assets 42,041.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 1,02,475.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 768.00
Other equity 81,112.00
Total equity attributable to owners of parent 81,880.00
Non controlling interest
Total equity 81,880.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 3,120.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 2,044.00
Total of other non-current financial liabilities 2,044.00
Total non-current financial liabilities 5,164.00
Provisions, non-current 306.00
Deferred tax liabilities (net) 1,629.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 7,099.00
Current liabilities
Current financial liabilities
Borrowings, current 196.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 221.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 7,915.00
Total Trade payable 8,136.00
Other current financial liabilities
1 other financial liabilities 1,185.00
2 Lease liabilities 975.00
Total of other current financial liabilities 2,160.00
Total current financial liabilities 10,492.00
Other current liabilities 2,398.00
1 Other current liabilities 2,398.00
Total of other current liabilities 2,398.00
Provisions, current 606.00
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 13,496.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 20,595.00
Total equity and liabilites 1,02,475.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Fair value of equity instruments through other comprehensive income (167.00) (31.00)
2 Re-measurement of defined benefit liability 241.00 83.00
Total Amount of items that will not be reclassified to profit and loss 74.00 52.00
2 Income tax relating to items that will not be reclassified to profit or loss 19.00 13.00
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified subsequently to profit or loss 330.00 330.00
Total Amount of items that will be reclassified to profit and loss 330.00 330.00
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 385.00 369.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 11,036.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 213.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (1,287.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (1,362.00)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (685.00)
Adjustments for increase (decrease) in trade payables, non-current 2,919.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 2,574.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 304.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 23.00
Adjustments for share-based payments 63.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (1,209.00)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 281.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 1,788.00
Net cash flows from (used in) operations 12,824.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 2,681.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 10,143.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 97.00
Purchase of property, plant and equipment 12,530.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 27.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 138.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 3,428.00
Net cash flows from (used in) investing activities (8,894.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 173.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 3,315.00
Repayments of borrowings 0.00
Payments of lease liabilities 818.00
Dividends paid 3,457.00
Interest paid 26.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (813.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 436.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 436.00
Cash and cash equivalents cash flow statement at beginning of period 1,175.00
Cash and cash equivalents cash flow statement at end of period 1,611.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s. Brahmayya & Co., Chartered Accountant Yes 30-04-2027