NSE: TRANSCOR · BSE: 532410
TRANSCORP INTERNATIONAL L
Provides foreign currency exchange and money transfer / remittance services, which generated almost all of its ₹885.82 crore in FY26 revenue. The core foreign exchange and money transfer business sells foreign currency to customers and processes remittances, and during FY26 the company became one of the first non-bank entities to hold a direct bank account with the Reserve Bank of India, with in-principle approval for RBI's Centralised Payment Systems (RTGS/NEFT capabilities). In Q1 FY27 it also received RBI INFINET and RTGS membership and was empaneled as a Business Correspondent of Indian Overseas Bank. A small travel, ticketing and car rental segment contributed ₹4.97 crore in FY26, while a real estate segment shown in the segment disclosures generated no revenue and ran a small EBIT loss. The company has four wholly-owned subsidiaries, zero outstanding public fixed deposits or long-term borrowings, and is classified under Other Financial Services. Costs are dominated by other operating expenses (4% of revenue) and employee costs (2.5%), with no materials cost. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Foreign Exchange and money transfer, Travel, Ticketing and car rental, Real Estate and Building rent. Service-based, low-spread foreign exchange and remittance business
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,316 | 2,886 | 2,143 | 1,430 | 886 |
| EBITDA (ex other income) | 13 | 2 | 1 | 1 | 10 |
| margin % | 0.6 | 0.1 | 0.1 | 0.1 | 1.1 |
| Owners' profit | 10 | 0 | 0 | 10 | 8 |
| EPS, as reported (₹) | 3.18 | 0.16 | 0.02 | 3.19 | 2.63 |
| ROE % · ROCE % | 17.9 · 20.4 | 0.9 · 7.0 | 0.1 · 3.0 | 15.5 · 6.9 | 11.5 · 17.4 |
| Debt / equity (x) | 0.38 | 0.24 | 0.35 | 0.30 | 0.20 |
| Cash from operations | 23 | (2) | (10) | 1 | 8 |
| Capex | (1) | (8) | (1) | (1) | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 401 | 485 | 292 | 252 | 229 | 249 | 211 | 196 |
| Profit before tax | 1 | 0 | (1) | 2 | 1 | 2 | 2 | 5 |
| Net profit | 10 | (0) | (2) | 2 | 1 | 2 | 2 | 4 |
| EPS (₹) | 3.26 | (0.10) | (0.49) | 0.53 | 0.32 | 0.54 | 0.55 | 1.22 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Foreign Exchange and money transfer | 195 | 22.0 |
| Travel, Ticketing and car rental | 1 | 0.2 |
| Foreign exchange and money transfer | 686 | 77.5 |
| Travel, ticketing and car rental | 4 | 0.4 |
| Total, before eliminations | 886 | 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. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.8 | 19.0 | 21 of 76 | 73% |
| P/B | 1.0 | 1.0 | 52 of 105 | 50% |
| ROCE | 15.1 | 1.8 | 14 of 83 | 84% |
| ROE | 11.5 | 1.3 | 14 of 111 | 88% |
| Debt / Equity | 0.2 | 0.0 | 54 of 77 | 30% |
| EBITDA margin | 3.1 | 25.6 | 64 of 91 | 30% |
| Revenue growth | (22.3) | (4.1) | 54 of 85 | 37% |
| Profit growth | 132.3 | (0.2) | 18 of 109 | 84% |
| Market cap | 74 | 26 | 28 of 113 | 76% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Routine compliance certificate for dematerialized shares filed for Jul-Sep 2026 quarter | compliance | minimal | — | — |
| 26 Sept 2026 · Board meeting on Nov 4 to approve Q2/H1 FY26 results | results | low | — | — |
| 26 Sept 2026 · Intimation of Closure of Trading Window | compliance | minimal | — | — |
| 26 Sept 2026 · Scheme of Arrangement halted after regulatory feedback | strategic transactions | medium | — | — |
| 1 Aug 2026 · Transcorp Q1 FY27: Revenue up 24%, PBT up 175% YoY | compliance | low | — | — |
| 1 Aug 2026 · Newspaper ad for Q1 FY27 un-audited results published | compliance | minimal | — | — |
| 31 Jul 2026 · Q1 FY27 Results: Revenue up 24%, PAT nearly triples YoY on forex growth | results | high | — | — |
| 31 Jul 2026 · Q1FY27 results approved; revenue up 24%, PAT jumps 166% YoY | results | high | — | — |
| 31 Jul 2026 · Board approves Q1 FY27 results, appoints new internal auditor | results | high | — | — |
| 14 Jul 2026 · Board Meeting on 31 July 2026 to consider Q1 FY27 results | results | 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.