NSE: TCC · BSE: 512038
TCC CONCEPT LIMITED
Operates a multi-engine consumer technology and digital infrastructure platform spanning furniture retail, big-box logistics, AI, cloud storage and data centres. Brokerage and other services, primarily the Pepperfry omnichannel furniture marketplace in which it acquired a ~98.98% stake, generated ₹151.78 crore in FY26 revenue, or 76.7% of segment revenue. Pepperfry currently runs 100+ studios across 65+ cities with gross merchandise value of ₹6,321 Mn and a 72% repeat-order rate, and plans 35 new stores by August 2026 with a long-term target of 250+ outlets. Rental and leasing of equipment, which includes Pepcart Logistics with 5 mega-fulfilment centres, 25+ distribution hubs and 240+ padded vehicles covering 7,000+ pin codes, contributed ₹33.35 crore (16.9% of segment revenue). Information Technology, covering TryThat.ai (real-estate AI), MyFlopy (private cloud storage) and NESData (data centre infrastructure), generated ₹12.72 crore (6.4% of segment revenue). The cost base is led by depreciation at 26.9% of revenue, followed by materials at 15.4%, employee costs at 14.3% and other operating expenses at 14.2%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Brokerage and other services (77%), Rental and leasing of Equipments (17%), Information Technology (6%), Unallocated (0%). Diversified consumer-tech and digital-infrastructure platform with furniture retail, logistics, AI and cloud/data-centre businesses.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 74 | 83 | 179 |
| EBITDA (ex other income) | 34 | 60 | 97 |
| margin % | 45.5 | 72.4 | 54.3 |
| Owners' profit | 20 | 42 | 63 |
| EPS, as reported (₹) | 21.77 | 13.78 | 16.45 |
| ROE % · ROCE % | 10.6 · 14.2 | 5.9 · 7.5 | 3.9 · 4.0 |
| Debt / equity (x) | 0.02 | 0.03 | 0.01 |
| Cash from operations | (6) | 23 | 113 |
| Capex | (33) | (132) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22 | 32 | 22 | 27 | 46 | 84 | 128 | 134 |
| Profit before tax | 14 | 21 | 13 | 15 | 20 | 6 | 12 | 19 |
| Net profit | 10 | 17 | 9 | 10 | 14 | 31 | 13 | 25 |
| EPS (₹) | 2.90 | 4.79 | 2.64 | 2.92 | 2.93 | 6.14 | 2.58 | 0.99 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Brokerage and other services | 87 | 44.2 |
| Rental and leasing of Equipments | 10 | 5.3 |
| Information Technology | 12 | 6.2 |
| Brokerage and Other Services | 33 | 16.9 |
| Rental and Leasing of Expenses | 9 | 4.4 |
| Brokerage & Other Services | 31 | 15.6 |
| Rental & Leasing of Equipment | 14 | 7.2 |
| Information Technology Service | 0 | 0.2 |
| Total, before eliminations | 198 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INFO EDGE (I) LTD | 77,236 | 43.8 | 1.58 | 65.6 | 2.3 | 2.5 | 24.0 | 39.2 |
| INDIAMART INTERMESH LTD | 9,285 | 18.5 | 4.01 | 17.4 | 11.4 | 12.1 | 18.6 | 37.1 |
| JUSTDIAL LTD. | 5,735 | 15.8 | 1.43 | 26.4 | 9.0 | 11.0 | 3.2 | 26.2 |
| CRIZAC LIMITED | 2,747 | 13.2 | 4.07 | 9.1 | 12.2 | 15.3 | — | 34.5 |
| MATRIMONY.COM LIMITED | 1,134 | 25.8 | 5.49 | 21.9 | 16.5 | 17.9 | 4.0 | 20.1 |
| TCC CONCEPT LIMITED ◆ | 958 | 3.2 | 0.56 | 9.8 | 2.2 | 1.6 | — | 41.1 |
| JUPITER INFOMEDIA LTD. | 34 | — | 0.90 | — | (5.3) | (6.6) | 30.2 | (2453.0) |
| OLYMPIA INDUSTRIES LTD. | 16 | 7.7 | 0.29 | — | 2.2 | 2.6 | — | 2.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.2 | 15.8 | 1 of 7 | 100% |
| P/B | 0.6 | 1.4 | 3 of 9 | 75% |
| ROCE | 1.6 | 6.8 | 7 of 8 | 14% |
| ROE | 2.2 | 5.7 | 7 of 8 | 14% |
| Debt / Equity | 0.0 | 0.0 | 6 of 9 | 38% |
| EBITDA margin | 41.1 | 30.3 | 1 of 8 | 100% |
| Revenue growth | 396.3 | 10.9 | 1 of 8 | 100% |
| Profit growth | 137.7 | 25.9 | 1 of 8 | 100% |
| Market cap | 958 | 1134 | 6 of 9 | 38% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 4 Nov 2026 · Q2 FY27 revenue rises 396% and profit after tax rises 159% | investor communications | medium | — | — |
| 4 Nov 2026 · Q2 and H1 FY27 revenue and profit rise sharply | compliance | low | — | — |
| 4 Nov 2026 · Revenue up 396% in September 2026 quarter; auditor flags receivables | results | high | — | — |
| 4 Nov 2026 · Consolidated Sep 2026 quarter revenue up 396%, profit after tax up 94%; auditor flags caveats | results | high | — | — |
| 29 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 13 Oct 2026 · Routine SEBI Depositories compliance certificate filed for Q2 FY27 | compliance | minimal | — | — |
| 10 Oct 2026 · Newspaper Publication Confirming Postal Ballot Notice Dispatch | compliance | minimal | — | — |
| 9 Oct 2026 · TCC Concept seeks shareholder nod for Rs 30 cr guarantee to Pepperfry | board shareholder meetings | low | — | — |
| 30 Sept 2026 · TCC Concept 41st AGM: All 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 41st AGM held; 3 resolutions transacted including shift of registered office | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.