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

Fair Value

₹788.45Overvalued by 12.49%vs CMP ₹901.00

P/E (15.2) × ROE (19.2%) × BV (₹334.00) × DY (1.11%)

₹641.60Overvalued by 28.79%vs CMP ₹901.00
MoS: -40.4% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹861.8122%Fair (-4.3%)
Graham NumberEarnings₹662.6516%Over (-26.5%)
Earnings PowerEarnings₹348.6713%Over (-61.3%)
DCFCash Flow₹910.2513%Fair (+1%)
Net Asset ValueAssets₹334.057%Over (-62.9%)
EV/EBITDAEnterprise₹564.489%Over (-37.3%)
Earnings YieldEarnings₹584.307%Over (-35.1%)
ROCE CapitalReturns₹455.537%Over (-49.4%)
Revenue MultipleRevenue₹584.785%Over (-35.1%)
Consensus (9 models)₹641.60100%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

Analyst Summary

Transport Corporation of India Ltd (TCI) operates in the Transport - Road segment, current market price is ₹901.00, market cap is 6,921 Cr.. At a glance, stock P/E is 15.2, ROE is 19.2 %, ROCE is 19.4 %, book value is 334, dividend yield is 1.11 %. The latest intrinsic value estimate is ₹641.60, around 28.8% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹4,492 Cr versus the prior period change of 11.6%, while latest net profit is about ₹416 Cr with a prior-period change of 17.5%. The 52-week range shown on this page is 1,245/868, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisTransport 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 Num…

This summary is generated from the stock page data available for Transport Corporation of India Ltd (TCI): Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

71
Transport Corporation of India Ltd (TCI) scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health86/100 · Strong
ROCE 19.4% GoodROE 19.2% 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 15.2 vs industry 20.0 In-lineROCE 19.4% vs industry 10.9% Above peersROE 19.2% vs industry 9.5% 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.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 8:29 am

Market Cap 6,921 Cr.
Current Price 901
Intrinsic Value₹641.60
High / Low 1,245/868
Stock P/E15.2
Book Value 334
Dividend Yield1.11 %
ROCE19.4 %
ROE19.2 %
Face Value 2.00
PEG Ratio1.63

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) 6,921 Cr. 901 1,245/86815.2 3341.11 %19.4 %19.2 % 2.00
Globe International Carriers Ltd 267 Cr. 23.9 52.4/15.626.8 8.760.00 %15.9 %12.5 % 5.00
Maheshwari Logistics Ltd 221 Cr. 74.6 75.5/39.014.5 72.60.00 %12.0 %7.91 % 10.0
Balurghat Technologies Ltd 22.4 Cr. 12.3 21.0/9.0014.7 9.860.00 %7.16 %2.94 % 10.0
Frontline Corporation Ltd 16.8 Cr. 33.5 61.5/25.06.37 35.70.00 %5.37 %14.5 % 10.0
Industry Average2,469.67 Cr126.4820.04123.320.21%10.87%9.51%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: July 24, 2026, 6:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 151515151515151516161515
Reserves 6055606317468771,0091,1541,4151,6861,9882,1392,551
Borrowings 3203544214404704222979692194242312
Other Liabilities 197129162196254237272301307304537603
Total Liabilities 1,1371,0581,2291,3981,6161,6831,7391,8272,1012,5012,9343,482
Fixed Assets 5215325426267277728058017918629641,193
CWIP 71257564225726109255343
Investments 77687104117135150193286543411487
Other Assets 6024385446117687557798269989881,3041,459
Total Assets 1,1371,0581,2291,3981,6161,6831,7391,8272,1012,5012,9343,482

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 12510999157179243305368361299359444
Cash from Investing Activity + -121-101-122-131-158-135-107-76-193-404-99-367
Cash from Financing Activity + -4-1232-30-24-104-176-258-6518-292-35
Net Cash Flow -1-48-4-332134102-87-3242
Free Cash Flow -1211-1561797183297208571032
CFO/OP 78%160%76%89%85%118%114%101%89%82%86%101%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow170.00-125.00-266.00-258.00-224.00-220.00-181.00-34.00316.00333.00217.00221.00

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

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters 68.95%68.92%68.92%68.93%68.78%68.73%68.81%68.73%68.73%68.73%68.74%68.66%
FIIs 2.58%2.61%2.67%2.92%3.01%3.35%3.17%3.18%3.19%3.10%3.03%3.04%
DIIs 12.87%12.81%12.18%12.18%12.36%12.33%12.39%12.37%12.65%12.81%12.86%12.69%
Public 15.61%15.65%16.22%15.97%15.84%15.59%15.61%15.71%15.43%15.36%15.37%15.61%
No. of Shareholders 42,38341,16443,73643,82249,57151,79751,69350,82749,64347,66148,19048,535

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
Tata Small Cap Fund 782,332 0.64 72.52782,3322025-04-22 17:25:170%
Bandhan Infrastructure Fund 131,124 0.81 12.16141,6302026-06-11 03:47:09-7.42%

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

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

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

As of 04 September 2026, Transport Corporation of India Ltd (TCI)'s intrinsic value is ₹641.60, which is 28.79% lower than the current market price of ₹901.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.2 %), book value (₹334), dividend yield (1.11 %), 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 ₹901.00 as of 04 September 2026, with a FY2026-2027 high of ₹1,245 and low of ₹868. The stock is currently near its 52-week low. Market cap stands at ₹6,921 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 15.2, which is below the industry average of 20.04. 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 19.4 % indicates efficient capital utilization; ROE of 19.2 % shows strong shareholder returns. Dividend yield is 1.11 %.

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 1.11 % at the current price of ₹901.00. The company pays dividends, though the yield is modest.

Last Updated: August 25, 2026, 8:29 am
Author: Getaka|Social: XLinkedIn
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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