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Transport Corporation of India Ltd. announces Results for Q2 / H1 FY’24 ending 30th Sep 2023

Mumbai, India, 1st November 2023: India’s leading integrated supply chain and logistics solutions provider, Transport Corporation of India Ltd., announced its financial results today for the 2nd quarter of FY’24 ending 30th Sep 2023. The company’s total revenue for the quarter recorded a growth of 6.2% over the corresponding quarter last year while the profit recorded a growth of 16.7% during this period.

Performance Highlights: Q2 FY2024 vs. Q2 FY2023
Ø Revenue from operations of ₹ 9,120 Mn, growth of 6.2% y-o-y
Ø EBITDA of ₹ 1,086 Mn compared to ₹ 992 Mn in FY2023
Ø EBITDA Margin of 11.9% compared to 11.6% in FY2023 and grew by 3.1%
Ø PAT of ₹ 670 Mn compared to ₹ 574 Mn in FY2023 and grew by 16.7%
Ø PAT Margin of 7.4% compared to 6.7% in FY2023 and grew by 9.9%

Performance Highlights: H1 FY2024 vs. H1 FY2023
Ø Revenue from operations of ₹ 19,631 Mn, growth of 6.2% y-o-y
Ø EBITDA of ₹ 2,586 Mn compared to ₹ 2363 Mn in FY2023
Ø EBITDA Margin of 13.2% compared to 12.8% in FY2023 and grew by 3%
Ø PAT of ₹ 1,710 Mn compared to ₹ 1516 Mn in FY2023 and grew by 12.8%
Ø PAT Margin of 8.7% compared to 8.2% in FY2023 and grew by 6.2%

Commenting on the results, Mr. Vineet Agarwal, MD – TCI said, “The Company delivered consistent performance for Q2 /H1 FY’24. Key sectors such as Automotive, Infrastructure, Engineering & consumer goods witnessed decent traction. With the festival season underway, volume of business has seen an increase in line with expectations.

We are pleased to also share that TCI Group has been recognized as Maritime Excellence Achiever in the ’Shipping – Promoting Multimodal Logistics’ category at the Global Maritime India Summit 2023 held recently.”

TCI entered into a definite agreement with a Japanese shipyard for building two Cellular Container Vessels of approx. 7300 MT DWT each for a contract price of approximately ₹ 300 crores. The vessels will be delivered in FY26. The investment in ships and trains is in line with our objective to provide multimodal and green logistics to our customers.

About Group TCI: Group TCI, with revenues of over ₹ 6200 Cr is India’s leading integrated supply chain and logistics solutions provider. TCI group with expertise developed over 6 decades has an extensive network of company owned offices, 14 Mn. Sq. Ft. of warehousing space and a strong team of trained employees. With its customer-centric approach, world class resources, state-of-the-art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:

TCI Freight: India’s leading surface transport entity. This division is fully equipped to provide total transport solutions for cargo of any dimension or product segment. It transports cargo on FTL (Full truck load)/ LTL (Less than truck load)/ Small packages and consignments/ Over Dimensional cargo.

TCI Seaways: TCI Seaways is well equipped with six ships in its fleet and caters to the coastal cargo requirements for transporting containers and bulk cargo. Being the pioneers in multimodal coastal shipping and container cargo movement and transportation services, TCI Seaways connects India with its western, eastern, and southern ports.

TCI Supply Chain Solutions: TCI SCS is a single window enabler of integrated supply chain solutions right from conceptualization and designing the logistics network to actual implementation. The core service offerings are Supply Chain Consultancy, Inbound Logistics, Warehousing / Distribution Centre Management & Outbound Logistics.

TCI Chemical Logistics Solutions: A subdivision of TCI which provides storage of chemicals – liquid, dry and gases in compliant warehouses and movement in ISO tank containers, gas tankers and flexi tanks by Rail, Road and Coastal.

TCI Cold Chain Solutions Ltd.: Integrated cold chain service provider to meet the needs of temperature-controlled warehousing and distribution services. The facility caters to the needs of various industries such as agriculture products, processed foods, life sciences, healthcare, specialty chemicals, among others.

TCI CONCOR Multimodal Solutions Pvt. Ltd.: An end-to-end multimodal logistics solutions provider, it is a joint venture between TCI and Concor. This segment synergises the strengths, infrastructure and capabilities of TCI Group with rail infrastructure of Concor. It establishes a cost-effective integrated rail-road service.

Transystem: Transystem Logistics International Pvt Ltd., (TLI) a JV between TCI and Mitsui & Co., carved its niche by offering high quality integrated logistics solutions to Japanese Automotive Manufacturers and Suppliers in India. TLI offers a wide range of services like IBL for Production Parts (Just in Time basis) OBL, Warehousing, Spare Parts delivery (After Sales Service), CKD container transportation etc.

TCI Express Ltd: A leading express distribution specialist that offers a single window door-to-door & time definite solution for customers’ express requirements. It serves across 40,000 locations in India and 202 countries abroad.

TCI Developers Ltd: It undertakes development of large modern Warehouses, Logistics Parks etc.

TCI Foundation: As the group’s social arm, TCIF fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It has also collaborated with the Bill & Melinda Gates Foundation & National Aids Control Organization to run programs on AIDS interventions and education among the vulnerable trucking community.

TCI Institute of Logistics (TCIIL): It is driven by the objective to create a platform for the industry that would foster professionalization for different job roles in the logistics sector. By focusing on emerging trends, industry-specific problems of national importance, and global standards in logistics and supply chain management, TCIIL strives to enable higher efficiency, enhanced profitability, and improving solutions to macro level issues in the logistics services industry.

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