TCI Express Reports Q1 Unaudited Results and Reconstitutes Key Board Committees
TCI Express Limited announced its un-audited financial results for the first quarter ended June 30, 2026, alongside detailing significant structural changes within its governing body. The company also provided details regarding a GST demand dispute currently under appeal.The Board of Directors reviewed and approved these results, which were conducted in conjunction with a Limited Review Report prepared by Statutory Auditors. Concurrently, the meeting led to the reconstitution of several key internal committees, including the Nomination and Remuneration Committee, Audit Committee, Stakeholders' Relationship Committee, and Risk Management Committee.
Q1 Financial Performance Highlights
The company's results for the quarter ending June 30, 2026, demonstrated specific performance metrics across both standalone and consolidated segments.Key financial data points are presented in INR Crores (except as stated):
| Metric | Standalone Q1 Ended June 30, 2026 | Consolidated Q1 Ended June 30, 2026 |
|---|---|---|
| Revenue from Operations | 311.95 | 313.40 |
| Total Income | 315.31 | 317.43 |
| Total Expenses | 285.78 | 289.79 |
| Profit Before Tax (PBT) | 29.53 | 27.64 |
| Net Profit After Tax | 22.38 | 20.49 |
The financial statements also included data comparison points for the previous two periods and are detailed in the table below:
| Particulars (INR In Crores) | Standalone Q1 '26 Unaudited | Standalone Q1 '25 Unaudited | Consolidated Q1 '26 Unaudited | Consolidated Q1 '25 Unaudited |
|---|---|---|---|---|
| Revenue from Operations | 311.95 | 286.75 | 313.40 | 286.75 |
| Total Income | 315.31 | 290.19 | 317.43 | 290.51 |
| Total Expenses | 285.78 | 262.33 | 289.79 | 264.22 |
| Profit/(Loss) before Tax | 29.53 | 27.86 | 27.64 | 26.29 |
| Net Profit/Loss after Tax | 22.38 | 21.04 | 20.49 | 19.47 |
Management Note on GST Dispute
The financial statements include a detailed note regarding a Goods and Services Tax (GST) demand raised against the company. The demand, amounting to INR 51.36 Crores along with applicable interest and penalty, concerns GST liability under the Reverse Charge mechanism concerning GTA supplies received from transporters during the period from July 01, 2017 to March 31, 2022.The company had appealed this demand before the Commissioner (Appeals) GST but its appeal was rejected on December 30, 2025. Currently, the company has filed an appeal with the Goods and Services Tax Appellate Tribunal (GSTAT, Haryana). Management stated confidence in prevailing against the department's position and did not anticipate any adverse financial outcome, with no adjustments being envisaged in the current results.
Board Committee Reconstitution
The company announced changes across all major Board Committees. The reconstitution details are provided below:Nomination and Remuneration Committee:
| Existing Composition | Proposed Composition |
|---|---|
| Chairperson: Mr. Phool Chand Sharma (Independent Director) | Chairperson: Mr. Pavan Kumar Munjuluri (Independent Director) |
| Member: Mr. D.P Agarwal (Non-Executive Director) | Member: Mr. D.P Agarwal (Non-Executive Director) |
| Member: Mr. Murali Krishna Chevuturi (Independent Director) | Member: Mr. Phool Chand Sharma (Independent Director) |
Audit Committee:
| Existing Composition | Proposed Composition |
|---|---|
| Chairperson: Mr. Murali Krishna Chevuturi (Independent Director) | Chairperson: Mr. Vikram Singh Mehta (Independent Director) |
| Member: Mr. Phool Chand Sharma (Independent Director) | Member: Mr. Pavan Kumar Munjuluri (Independent Director) |
| Member: Mr. Prashant Jain (Independent Director) | Member: Mr. Phool Chand Sharma (Independent Director) |
| Member: Mr. Vineet Agarwal (Non-Executive Director) | Member: Mr. Vineet Agarwal (Non-Executive Director) |
Stakeholders' Relationship Committee:
| Existing Composition | Proposed Composition |
|---|---|
| Chairperson: Mrs. Taruna Singhi (Independent Director) | Chairperson: Mrs. Taruna Singhi (Independent Director) |
| Member: Mr. Phool Chand Sharma (Independent Director) | Member: Mr. Chander Agarwal (Managing Director (Executive)) |
| Member: Mr. Vineet Agarwal (Non-Executive Director) | Member: Mr. Mukti Lal (Executive Director & Chief Financial Officer) |
Risk Management Committee:
| Existing Composition | Proposed Composition |
|---|---|
| Chairperson: Mr. Prashant Jain (Independent Director) | Chairperson: Mr. Phool Chand Sharma (Independent Director) |
| Member: Mr. Phool Chand Sharma (Independent Director) | Member: Mr. Vikram Singh Mehta (Independent Director) |
| Member: Mr. Chander Agarwal (Managing Director (Executive)) | Member: Mr. Chander Agarwal (Managing Director (Executive)) |
| Member: Mr. Mukti Lal (Executive Director & Chief Financial Officer) | Member: Mr. Mukti Lal (Executive Director & Chief Financial Officer) |
The reconstitution of these committees is subject to the approval of Shareholders at the forthcoming Annual General Meeting regarding director appointments.
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