TCI Express Limited — Interim / Quarterly Report 2021

Oct 22, 2021

LEADER IN EXPRESS

October 22, 2021

The National Stock Exchange of India Ltd., The Listing Department, "Exchange Plaza", Bandra Kurla Complex, Bandra (East), Mumbai-400051 Scrip Symbol: TCIEXP

BSE Ltd. The Department of Corporate Services, Phiroz Jeejeebhoy Towers, Dalai Street, Mumbai -400001 Scrip Code: 540212

Dear Sir/Madam,

Sub: Outcome of Board Meeting-TCI Express Limited Ref: Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015

This is in continuation to our letter dated September 24, 2021, intimating your good office about convening of the Board Meeting of the Company on Friday, October 22, 2021.

In this regard, please be inform that the Board of Directors, in its meeting held on even date, has inter-alia approved/ declared / took note of the following:

i. Approved Un-audited Standalone Financial Results of the Company for the 2nd Quarter/ Half Year ended September 30, 2021. A copy of the said results is annexed herewith as Annexure-I.

ii. Took note of the Limited Review Report, as submitted by the Statutory Auditor of the Company on the above Financial Results. A copy of the said Report is annexed herewith as Annexure-ll.

iii. Amended Code of Conduct for Prevention of Insider Trading in line with the SEBI (Prohibition of Insider Trading) Regulations, 2015. The amended code is uploaded on website of the Company at www.tciexpress.in.

iv. Declared Interim dividend for FY 2021-22 @ 150% (Rs.3/-) per Equity Share of Face value of Rs.2/- each to the Shareholders whose names will appear on the Register of Members on the RECORD DATE i.e. Saturday, the October 30, 2021, which has been decided in due consultation with the Stock Exchanges. The payment of dividend/ dispatch of warrants will be completed within/before 30 days of declaration of Interim Dividend.

The Company will be publishing the said Results as per the prescribed format and shall be forwarded to you in due course.

The Board meeting commenced at 12:30 p.m. and concluded at 2:15 p.m.

This is for your information, records and meeting the disclosure requirements as prescribed under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you, [for/Cl Express Limited

Priyahka Company Secretary & Compliance Officer Ends: a/a.

TCI Express Limited Website: www.tciexpress.in

.Goipbrate Office:'tcraouse:/Plot N6..69,.Sector'.32' institutional Area, Gurugram -122001, India lei.: 24.238^1090 94 - Email: info.ftciexpress.'in -ON: L62200TG2008PLC0iS1781 ,. -Registered Office: Fiat Nos. 306 &.3P7,1-8-273,Third Floor, Ashoka.BHoopal Chambers, ' S. P. Road, Secunderabad- 500003-Tel.:+91 ^{40 27840104}

/InO'exfcie- /

ANNEXURE •

TCI EXPRESS LIMITED

CIN: L62200TG2008PLC061781

Regd. Office : Flat Nos. 306 & 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road,

Secunderabad - 500 003 (TG)

For TCI Express Limited

Managing Director

Corp. Office : TCI House, 69 Institutional Area, Sector-32, Gurugram-122 001

< ■V /-

H ,o Chander Agarwal

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Tel.: + 91 124 238 4090-94, E-mail: secretarial(S)tciexpress.in, Website: www.tciexpress.in

Statement of Unaudited Standalone Financial Results For the quarter/half Year Ended SEPTEMBER 30,2021

	(Rs. In Crores except as stated)
PARTICULARS		Quarter Ended				Year/Half Year Ended
		Sep' 30,2021	June 30,2021	Sep' 30,2020	Sep' 30,2021	Sep' 30,2020	March 31,2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Net Sales / Income from Operations	273.44	222.92	212.95	496.37	301,69	843.99
2	Otherjncome	.2.36,	1.64	1.46	3.99	.2.93
3	Total Income from operations (Net)	275.80	224.56	214.41	500.36	304,62	851.64,
	Expenses
	Operating expenses.	186.12	152.29	144.44	338.41	202,27	566.73
	Employee benefits expense . •	27.37	25.56	22.06,	52.93	40.78	87.34
	Depreciation and amortisation expense	.2.36	2.23	2.1?	4.60	4.29	8,97
	Finance Costs	0.30.	Q.ll	0,31	0.41	0.44	0.78
	Other Expenses	14.69	, 12.99	13,89	27.68	24.04,	.55.60
4	Total Expenses	230.84	193.18	182.87	424.03	271.82	719.42
5	Profit From Operations Before Exceptional items and Tax (3-4)	44.96	31.38	31.54	76.33	32.80	132.22
6	Exceptional Items
7	Profit from ordinary Activities before tax (5-6),	44.96	31.38	31.54	76.33	32.80	132.22
8	Tax Expense - Current	10,75	7.52	7,80.	18.27	,8.05	31.51
	- For Earlier years						(1-23J
	Deferred	017,	o.io	0.25	0-26	034	1,34
9	Net Profit from ordinary activities aftertax (7-8)	34.04	23.?6	23.49,	57.80	24.42	100.60
	10 Extraordinary Items
11	Net Profit for the period (9-10)	34.0 4	23.76	23.49	57.80	24.42	100.60
	12 Other Comprehensive Income (pet of tax)	(0.56)		0.13	(P-561	013	(P.27)
13	Total Comprehensive Income (11+12)	33-48	23.76	23.62	57.24	24.55	100.33
	14 Paid Equity Share Capital (Face Value of Rs 2/-Each)	7.70	7.69	7.69	7.70	7.69	7.69
	15 Earning Per Share (not,annualised)
	Basic Earning Per Share	8,85	6.19	6.12	15,01,	6,36	26.19
	Diluted Earning Per Share	8.84	6.1?	6.11	15.00	035	26.15

Place: Gurugram m Date : October 22,2021 .v- O

4

LEADER IN EXPRESS

TCI EXPRESS LIMITED

CIN:L62200TG2008PLC061781

"Regd. Office : Flat Nos. 306 & 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road, LEADER IN EXPRESS

Secunderabad - 500 003 (TG) Corp. Office : TCI House, 69 Institutional Area, Sector-32, Gurugram-122 001

Tel.: + 91 124 238 4090-94, E-mail: secretarialgptciexpress.in, Website: www.tciexpress.in

TCI EXPRESS LIMITED
---------------------	--

Statement of Cash Flow for the year ended Sep' 30,2021

			(Rupees in Crores)
		Period Ended	Year Ended
Particulars		Sep' 30, 2021	Mar' 31, 2021
A. CASH FLOW FROM OPERATING ACTIVITIES
Net profit before tax		76.33	132.22
Adjustments for:
Depreciation and amortisation		4.60	8.97
	Loss on disposal of property, plant and equipment (net)	0.05	(1.29)
Amortisation of leasehold land		0.02	0.04
Reversal under expected credit loss model		0.07	(0.50)
	Fair valuation of investments designated as FVOCI		0.10
	Remeasurements of net defined measurement plans	(0.75)	(0.46)
Employee stock option compensation		1.49	1.78
Miscellaneous provisions writen back		(0.07)	(0.17)
Finance costs		0.41	0.78
Interest/dividend income		(2.21)	(3.24)
Adjustment for:
		3.62	6.01
Operating profit before working capital changes		79.95	138.23
Changes in Operating Assets and Liabilities:
Trade receivable		(2.72)	(3.20)
	Loans, other financial assets and other assets	(1.47)	(4.16)
Trade payables		(2.74)	13.24
Other financial liabilities and provisions		.(3.15),	3.16
Cash Generation From Operations		69.87	147.27
Direct taxes paid		(2Q.15).	(23.41)
Net Cash flow from Operating Activities	(A)	49.72	118.86
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment		(45.69)	(56.80)
	Proceeds on sale of property, plant and equipment	0.57	2.33
Purchase of investments		12.64	(43.88)
Interest received		2.21	3-24
Net Cash flow from Investing Activities	(B)	(30.27)	(9 5.98)
C. CASH FLOW FROM FINANCING ACTIVITIES	*
Short term borrowings		(0.01)	(0.91)
Proceeds from issuance of share capital		1.41	2.17
Proceeds from term borrowings			0.16
Repayment of term borrowings		(0.47)	(1.20)
Payment of dividends		(7.70)	(7.69)
Payment of dividend tax
Finance cost paid		(0.40)	(0.79)
Net Cash flow from Financing Activities	(C)	(2-17)	(8-26)
	Net increase in cash and cash equivalents (A+B+C)	12.28	14.62
Cash and cash equivalents at 1 April		27.22	12.60
	Cash and Cash Equivalents as at 31 March/30 September	39.50	27.22

Place: Gurugram Date : October 22, 2021

For TCI Express Limited

Chander Agarwal

Managing Director

TCI EXPRESS LIMITED

LEADER IN EXPRESS

ON: LG2200TG200SPLC061781 Regd. Office : Flat Nos. 306 & 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road,

Secunderabad - 500 003 (TG) Corp. Office : TCI House, 69 Institutional Area, Sector-32, Gurugram-122 001

Tel.: + 91124 238 4090-94, E-mail: secretarial@tciexpress,in, Website: www.tciexpress.in

Particulars A		Unaudited	Audited
		As at	As at
		Sep' 30,2021	Mar* 31,2021
	ASSETS
1	Non-Current Assets Property, Plant and Equipment	235.55	224.43
	Right of Use Assets	2.11	2.18
	Capital Work in Progress	57.06	27.75
	Other Intangible Assets	2.05	1.77
	Financial Assets
	Investments	3.55	1.02
	Other Financial Assets	13.65	13.65
	Total Non Current Assets	313.97	270.80
2	Current Assets
	Financial Assets
	Investment	43.54	58.71
	Trade receivables	172.12	169.46
	Cash and cash equivalents	14.21	9.16
	Other bank balances	25.29 9.73	18.06 9.98
	Loans	0.96	0.95
	Other Financial Assets Current Tax Assets ( Net)	3.88	2.01
	Other current assets	6.22,	,4.53
	Total Current Assets	275.95	272.86
	TOTAL ASSETS	589.92	543.66
B	EQUITY AND LIABILITIES
	EQUITY
	Equity Share Capital	7.70 478.83	7.69 426.18
	Other Equity TOTAL EQUITY	486.53	433.87
	LIABILITIES
1	Non-Current Liabilities
	Financial Liabilities
	Borrowings	0.54	1.01
	Lease Liability	0.12	0.12
	Deferred Tax Liabilities (Net)	5.45	5-37
	Total Non-Current Liabilities	6.11	6.50
2	Current Liabilities
	Financial Liabilities
	Borrowings	0.94	0.94
	Trade Payables
	-MSME	1.58 70.79	1.62 73.57
	• Others	10.73	9.00
	Others Financial Liabilities	7.97	13.89
	Other Current Liabilities	5.24	4.27
	Provisions	97.24	103.29
	Total Current Liabilities		109.79
	Total Liabilities	103.35
	TOTAL EQUITY AND LIABILITIES	589.92	543.66
Notes:- 1	These results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (ind AS) prescribed under section 133 of the Companies Act 2013 and other recognised accounting practices to the extent applicable.
2	The Financial Results of the Company for the quarter and half year ended September 30, 2021 were reveiwed by the
	Audit Committee and thereafter approved by the Board of Directors of the Company at their respective meetings held on 22f,d October 2021. The Statutory Auditors of the Company have carried out the limited review of the same.

for the purpose, decided in due consultantion with Stock Exchanges 4 As the Company's main business activity falls within a single primary Business segment viz. "Express Cargo", the disclosure ⁶ The figures for the previous quarter have been regrouped/ reclassified accordingly.

requirements of Segment Reporting as per Indian Accounting Standard -108 are not applicable. 5 During the current quarter, the Company has achieved its pre-Covtd 19 level of operations

For TCI Express Limited i Chander Agarwal Managing Director Place: Gurugram Date : October 22,2021 y j

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R. S. Agarwala & Co.

Chartered Accountants

28, Black Bum Lane 3rd Floor, Kolkata-700 012 Telephone :-(033) 2237 7682 (033) 2236 9330 Email: - rsagarwalaco@gmail.com

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors TCI Express Limited

• 1. We have reviewed the accompanying statement of unaudited financial results of TCI Express Limited (the "Company") for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility ofthe Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review ofInterim Financial Information Performed by the Independent Auditor ofthe Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of person responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms ofthe Listing Regulations, including the manner in which it is to be disclosed or that it contains any material misstatement.

For R S Agarwala & Co Chartered Accountants Firm Registration No. - 304045E

R.S. Agarwala Partner Membership No. 005534 UDIN: 21005534AAAAAH6835

Place: Kolkata Date: October 22,2021