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Last Updated: April 2, 2026, 3:50 am
Author: Getaka|Social: XLinkedIn

Transport Corporation of India Ltd (TCI): Intrinsic Value & Share Price Analysis

Fair Value

₹793.41Overvalued by 14.60%vs CMP ₹929.00

P/E (15.9) × ROE (19.8%) × BV (₹312.00) × DY (0.97%)

₹637.99Overvalued by 31.33%vs CMP ₹929.00
MoS: -45.6% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹867.2322%Fair (-6.6%)
Graham NumberEarnings₹640.4516%Over (-31.1%)
Earnings PowerEarnings₹356.6513%Over (-61.6%)
DCFCash Flow₹918.7113%Fair (-1.1%)
Net Asset ValueAssets₹311.407%Over (-66.5%)
EV/EBITDAEnterprise₹572.649%Over (-38.4%)
Earnings YieldEarnings₹584.307%Over (-37.1%)
ROCE CapitalReturns₹418.697%Over (-54.9%)
Revenue MultipleRevenue₹585.285%Over (-37%)
Consensus (9 models)₹637.99100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.3%

*Investments are subject to market risks

Investment Snapshot

72
Transport Corporation of India Ltd (TCI) scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 20.5% ExcellentROE 19.8% ExcellentD/E 0.20 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 68.7% Stable
Earnings Quality60/100 · Moderate
OPM stable around 10% SteadyWorking capital: 52 days (improving) Efficient
Quarterly Momentum68/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +12% YoY Positive
Industry Rank75/100 · Strong
P/E 15.9 vs industry 16.3 In-lineROCE 20.5% vs industry 12.0% Above peersROE 19.8% vs industry 10.8% Above peers3Y sales CAGR: 11% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:50 am

Market Cap 7,130 Cr.
Current Price 929
Intrinsic Value₹637.99
High / Low 1,299/881
Stock P/E15.9
Book Value 312
Dividend Yield0.97 %
ROCE20.5 %
ROE19.8 %
Face Value 2.00
PEG Ratio1.71

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Transport Corporation of India Ltd (TCI)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Transport Corporation of India Ltd (TCI) 7,130 Cr. 929 1,299/88115.9 3120.97 %20.5 %19.8 % 2.00
Globe International Carriers Ltd 456 Cr. 40.7 52.4/20.646.6 8.190.00 %11.2 %8.51 % 5.00
Maheshwari Logistics Ltd 130 Cr. 44.1 65.0/39.06.96 69.90.00 %12.6 %9.27 % 10.0
Coastal Roadways Ltd 10.9 Cr. 26.2 42.9/26.26.94 58.60.00 %9.25 %6.35 % 10.0
Frontline Corporation Ltd 12.6 Cr. 25.2 61.5/25.05.12 33.00.00 %4.73 %14.6 % 10.0
Industry Average2,572.00 Cr126.4616.30119.060.20%12.03%10.77%8.56

All Competitor Stocks of Transport Corporation of India Ltd (TCI)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 9679799509941,0021,0791,0451,1211,1471,1791,1391,2051,249
Expenses 8528718498939029709411,0041,0291,0571,0181,0781,122
Operating Profit 114108101100100109104117118122121127127
OPM % 12%11%11%10%10%10%10%10%10%10%11%11%10%
Other Income 17192632283432352940313635
Interest 3223444566566
Depreciation 31313131333329293029293032
Profit before tax 9894949791106103118111127118126124
Tax % 11%12%11%10%12%3%11%9%8%10%9%10%6%
Net Profit 868283888010392107102115107114116
EPS in Rs 11.0510.5110.6011.2110.2213.1311.6913.9013.1714.9113.8914.6814.95

Last Updated: March 3, 2026, 2:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 5:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,2262,4171,7271,9432,3502,7542,7182,8023,2593,7834,0244,4924,772
Expenses 2,0572,2221,6391,7802,1332,5042,4762,5392,8473,3573,6134,0294,275
Operating Profit 17019588163216250241263412425411463496
OPM % 8%8%5%8%9%9%9%9%13%11%10%10%10%
Other Income 989227374434314470119135142
Interest 33342530323734271310132022
Depreciation 4755525969778293113121128118121
Profit before tax 99114103100152179159174330364388459495
Tax % 28%29%15%19%19%19%10%14%11%12%9%9%
Net Profit 72828881124145143150293321354416452
EPS in Rs 9.8210.7511.4610.5316.0818.8418.5319.0837.4540.9145.1253.8358.43
Dividend Payout % 19%14%13%10%10%10%11%13%11%17%16%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)13.89%7.32%-7.95%53.09%16.94%-1.38%4.90%95.33%9.56%10.28%17.51%
Change in YoY Net Profit Growth (%)0.00%-6.57%-15.27%61.04%-36.15%-18.31%6.27%90.44%-85.78%0.72%7.23%

Transport Corporation of India Ltd (TCI) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:11%
3 Years:11%
TTM:11%
Compounded Profit Growth
10 Years:18%
5 Years:22%
3 Years:12%
TTM:18%
Stock Price CAGR
10 Years:24%
5 Years:40%
3 Years:20%
1 Year:7%
Return on Equity
10 Years:18%
5 Years:19%
3 Years:20%
Last Year:20%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 4, 2025, 2:08 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 15151515151515151516161515
Reserves 4766055606317468771,0091,1541,4151,6861,9882,1392,375
Borrowings 3363203544214404704222979692194242253
Other Liabilities 174197129162196254237272301307304383434
Total Liabilities 1,0011,1371,0581,2291,3981,6161,6831,7391,8272,1012,5012,7803,078
Fixed Assets 4325215325426267277728058017918629641,100
CWIP 1871257564225726109255268
Investments 877687104117135150193286543411492
Other Assets 5436024385446117687557798269989881,1501,218
Total Assets 1,0011,1371,0581,2291,3981,6161,6831,7391,8272,1012,5012,7803,078

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 15812510999157179243305368361299359
Cash from Investing Activity + -98-121-101-122-131-158-135-107-76-193-404-99
Cash from Financing Activity + -63-4-1232-30-24-104-176-258-6618-292
Net Cash Flow -3-1-48-4-332134102-87-32
Free Cash Flow 84-1211-15617971832972085710
CFO/OP 110%78%160%76%89%85%118%114%101%89%82%86%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-166.00-125.00-266.00-258.00-224.00-220.00-181.00-34.00316.00333.00217.00221.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 626669676668656757545459
Inventory Days
Days Payable
Cash Conversion Cycle 626669676668656757545459
Working Capital Days 3177121825283849485352
ROCE %16%17%10%13%16%17%14%15%23%22%20%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 69.00%68.95%68.95%68.92%68.92%68.93%68.78%68.73%68.81%68.73%68.73%68.73%
FIIs 2.77%2.54%2.58%2.61%2.67%2.92%3.01%3.35%3.17%3.18%3.19%3.10%
DIIs 12.23%12.75%12.87%12.81%12.18%12.18%12.36%12.33%12.39%12.37%12.65%12.81%
Public 16.01%15.76%15.61%15.65%16.22%15.97%15.84%15.59%15.61%15.71%15.43%15.36%
No. of Shareholders 52,66249,88042,38341,16443,73643,82249,57151,79751,69350,82749,64347,661

Shareholding Pattern Chart

No. of Shareholders

Transport Corporation of India Ltd (TCI): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 4,769,702 1.28 479.124,768,1622026-03-24 02:08:530.03%
HDFC Childrens Fund 1,067,068 1.03 107.19N/AN/AN/A
Tata Small Cap Fund 782,332 0.73 78.59782,3322025-04-22 17:25:170%
HDFC Retirement Savings Fund - Equity 679,460 0.98 68.25N/AN/AN/A
LIC MF Large & Mid Cap Fund 287,248 0.95 28.85287,2152026-02-22 00:10:450.01%
LIC MF Infrastructure Fund 145,343 1.45 14.6146,9262026-01-25 10:44:02-1.08%
Bandhan Infrastructure Fund 141,630 0.97 14.23141,4682026-03-24 02:08:530.11%
HDFC Multi-Asset Allocation Fund 140,000 0.24 14.06N/AN/AN/A
HDFC Retirement Savings Fund - Hybrid Equity 110,000 0.65 11.05N/AN/AN/A
LIC MF Small Cap Fund 84,616 1.4 8.547,5352026-01-25 20:01:0678.01%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 53.4345.1840.9637.5019.12
Diluted EPS (Rs.) 53.3245.0640.9637.3419.07
Cash EPS (Rs.) 57.9952.3651.2648.9128.94
Book Value[Excl.RevalReserv]/Share (Rs.) 281.26262.02223.28188.51152.83
Book Value[Incl.RevalReserv]/Share (Rs.) 281.26262.02223.28188.51152.83
Revenue From Operations / Share (Rs.) 586.32517.62487.66421.16363.48
PBDIT / Share (Rs.) 66.2858.7058.5755.4337.18
PBIT / Share (Rs.) 50.9042.1742.9140.8225.15
PBT / Share (Rs.) 48.2740.1641.2139.1619.99
Net Profit / Share (Rs.) 42.6135.8335.6134.2916.90
NP After MI And SOA / Share (Rs.) 53.8345.1240.9137.4519.08
PBDIT Margin (%) 11.3011.3312.0013.1610.23
PBIT Margin (%) 8.688.148.799.696.91
PBT Margin (%) 8.237.758.459.295.49
Net Profit Margin (%) 7.266.927.308.144.64
NP After MI And SOA Margin (%) 9.188.718.388.895.25
Return on Networth / Equity (%) 19.1317.5018.6420.2412.57
Return on Capital Employeed (%) 16.1414.7818.1620.4814.59
Return On Assets (%) 14.8314.0215.1015.858.46
Long Term Debt / Equity (X) 0.040.050.020.010.09
Total Debt / Equity (X) 0.070.070.030.040.20
Asset Turnover Ratio (%) 1.701.751.931.721.50
Current Ratio (X) 3.454.543.862.851.77
Quick Ratio (X) 3.434.513.842.821.75
Inventory Turnover Ratio (X) 525.420.000.000.000.00
Dividend Payout Ratio (NP) (%) 18.6315.4917.1014.146.27
Dividend Payout Ratio (CP) (%) 14.4911.3412.3610.173.85
Earning Retention Ratio (%) 81.3784.5182.9085.8693.73
Cash Earning Retention Ratio (%) 85.5188.6687.6489.8396.15
Interest Coverage Ratio (X) 25.1934.3946.2533.4210.74
Interest Coverage Ratio (Post Tax) (X) 17.2022.1729.4721.676.37
Enterprise Value (Cr.) 8468.646365.134777.984651.772178.70
EV / Net Operating Revenue (X) 1.891.581.261.430.77
EV / EBITDA (X) 16.6813.9510.5210.857.60
MarketCap / Net Operating Revenue (X) 1.861.561.291.420.70
Retention Ratios (%) 81.3684.5082.8985.8593.72
Price / BV (X) 3.883.132.863.241.69
Price / Net Operating Revenue (X) 1.861.561.291.420.70
EarningsYield 0.040.050.060.060.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Transport Corporation of India Ltd. is a Public Limited Listed company incorporated on 02/01/1995 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L70109TG1995PLC019116 and registration number is 019116. Currently Company is involved in the business activities of Freight transport by road. Company's Total Operating Revenue is Rs. 3935.90 Cr. and Equity Capital is Rs. 15.32 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Transport - RoadFlat Nos. 306 & 307, 1-8-201 to 203, 3rd Floor, Secunderabad Telangana 500003Contact not found
Management
NamePosition Held
Mr. D P AgarwalChairman & Managing Director
Mr. Vineet AgarwalManaging Director
Mr. S N AgarwalNon Executive Director
Ms. Urmila AgarwalNon Executive Director
Mr. Chander AgarwalNon Executive Director
Mr. Avinash GuptaIndependent Director
Ms. Gita NayyarIndependent Director
Mr. Vikrampati SinghaniaIndependent Director
Mr. Ravi UppalIndependent Director
Mr. Vijay SankarIndependent Director

FAQ

What is the intrinsic value of Transport Corporation of India Ltd (TCI) and is it undervalued?

As of 12 April 2026, Transport Corporation of India Ltd (TCI)'s intrinsic value is ₹637.99, which is 31.33% lower than the current market price of ₹929.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.8 %), book value (₹312), dividend yield (0.97 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Transport Corporation of India Ltd (TCI)?

Transport Corporation of India Ltd (TCI) is trading at ₹929.00 as of 12 April 2026, with a FY2026-2027 high of ₹1,299 and low of ₹881. The stock is currently near its 52-week low. Market cap stands at ₹7,130 Cr..

How does Transport Corporation of India Ltd (TCI)'s P/E ratio compare to its industry?

Transport Corporation of India Ltd (TCI) has a P/E ratio of 15.9, which is below the industry average of 16.30. This is broadly in line with or below the industry average.

Is Transport Corporation of India Ltd (TCI) financially healthy?

Key indicators for Transport Corporation of India Ltd (TCI): ROCE of 20.5 % indicates efficient capital utilization; ROE of 19.8 % shows strong shareholder returns. Dividend yield is 0.97 %.

Is Transport Corporation of India Ltd (TCI) profitable and how is the profit trend?

Transport Corporation of India Ltd (TCI) reported a net profit of ₹416 Cr in Mar 2025 on revenue of ₹4,492 Cr. Compared to ₹293 Cr in Mar 2022, the net profit shows an improving trend.

Does Transport Corporation of India Ltd (TCI) pay dividends?

Transport Corporation of India Ltd (TCI) has a dividend yield of 0.97 % at the current price of ₹929.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Transport Corporation of India Ltd (TCI). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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