TCI Q1 FY27 earnings call transcript filed with exchanges
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Transport Corporation of India filed the transcript of its Q1 FY27 earnings call held on August 3, 2026. Management reported a 24th consecutive quarter of growth, with consolidated revenue up about 9% and standalone up 7%. Freight grew 10-11% with slight margin improvement, while supply chain showed moderate growth and full-year guidance of 12-15% was maintained. Seaways margins faced pressure from West Asia-driven bunker price spikes. FY27 capex is planned at 550-600 crores including two new ships arriving in Q3. CARE rating was upgraded to AA plus. ROCE about 23%, RONW about 20%.
Steady growth continues but bunker price volatility and shipping margin pressure are watchpoints. Heavy capex cycle persists with two new ships due in Q3.