TCI Express Limited — Interim / Quarterly Report 2022

Jul 28, 2021

IFADER IN EXPRESS-

July 28, 2021

The National Stock Exchange of India Ltd., The Listing Department, "Exchange Plaza" Bandra Kurla Complex, Bandra (East) Mumbai - 400 051

BSE Ltd.

The Department of Corporate Services, Phiroz Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

Scrip Code: 540212

Scrip Symbol: TCIEXP

Dear Sir/Madam,

Sub: Outcome of Board Meeting held on July 28, 2021

This is in continuation to our letter dated July 07, 2021 intimating you about convening of the next Board Meeting of the Company on Wednesday, July 28, 2021.

We are now pleased to inform you that the Board of Directors has inter-alia approved/considered the following matters in its meeting held on even date:

• Un-audited Financial Results of the Company for the 1st guarter ended June 30, 2021 (enclosed as i. Annexure -1)
• ii. Limited Review Report, as submitted by the Statutory Auditors of the Company on the above results (enclosed as Annexure-2)
• Amendment in Risk Management Policy of the Company. The revised policy can be accessed on the iii. website of the Company at www.tciexpress.in.

The results are also being uploaded on website of the Company at www.tciexpress.in. The Company will be publishing the said Results as per the prescribed format and shall be forwarded in due course.

Further, the meeting of Nomination & Remuneration Committee (Committee) of the Company was also held today, in which the Committee has approved grant of 39,000 stock options to the eligible employees at an exercise price of Rs. 698/- (Rupees Six Hundred Ninety Eight Only) per option under the Employees Stock Option Plan 2016 (5th Tranche).

The Board meeting commenced at 12:30 p.m. and concluded at $\ldots$ 2.1.5 p.m.

This is for your information, records and meeting the disclosure requirements as per applicable Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you,

ForTdI Express Ltd.

Privanka Company Secretary & Complianee Officer Encl: as above

TCI Express Limited Website: www.tciexpress.in

Corporate Office: TCI House, Plot No. 69, Sector 32, Institutional Area, Gurugram - 122001, India Tel.: +91-124-2384090-94 · Email: info@tciexpress.in · CIN: L62200TG2008PLC061781 Registered Office: Flat Nos. 306 & 307, 1-8-273, Third Floor, Ashoka Bhoopal Chambers, S. P. Road, Secunderabad - 500003 · Tel.: +91 40 27840104

Anne $x \omega$ tc - $\perp$

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, Secunderabad - 500 003 (TG)

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

Tel.: + 91 124 2384090, E-mail: secretarial@tciexpress.in, Website: www.tciexpress.in

	(Rs. In Crores except as stated)
PARTICULARS	Quarter Ended			Year Ended
	30th June2021	31st March2021	30th June2020	31st March2021
	Unaudited	Audited	Unaudited	Audited
Net Sales / Income from Operations1	222.92	279.80	88.74	843.99
$\overline{2}$Other Income	1.64	3.06	1.47	7.65
Total Income from Operations (Net)3	224.56	282.86	90.21	851.64
Expenses
Operating Expenses	152.29	186.86	57.83	566.73
Employee Benefits Expense	25.56	23.31	18.72	87.34
Depreciation and Amortisation Expense	2.23	2.52	2.12	8.97
Finance Costs	0.11	0.18	0.12	0.78
Other Expenses	12.99	15.25	10.16	55.60
Total Expenses4	193.18	228.12	88.95	719.42
Profit From Operations Before Exceptional items and5Tax $(3-4)$	31.38	54.74	1.26	132.22
Exceptional Items6	$\mathbb{Z}^+$			$\blacksquare$
Profit from ordinary Activities before tax (5-6)7	31.38	54.74	1.26	132.22
Tax Expense - Current8	7.52	12.77	0.25	31.51
- For Earlier years		(1.23)		(1.23)
- Deferred	0.10	0.63	0.09	1.34
Net Profit from ordinary activities after tax (7-8)9	23.76	42.57	0.92	100.60
10 Extraordinary Items		$\blacksquare$	$\overline{\phantom{a}}$	$\overline{a}$
Net Profit for the period (9-10)11 1	23.76	42.57	0.92	100.60
Other Comprehensive Income (net of tax)12 1	$\blacksquare$	(0.27)	$\overline{\phantom{a}}$	(0.27)
13 Total Comprehensive Income (11+12)	23.76	42.30	0.92	100.33
14 Paid Equity Share Capital (Face Value of Rs 2/-Each)	7.69	7.69	7.67	7.69
15 Earning Per Share (not annualised)
Basic Earning Per Share	6.19	11.08	0.24	26.19
Diluted Earning Per Share	6.17	11.06	0.22	26.15
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 theextent applicable.
The financial results of the Company for the quarter ended June 30, 2021 were reveiwed by the Audit Committee2and were thereafter approved by the Board of Directors of the Company at their respective meetings held on July28, 2021. The Statutory Auditors of the Company have carried out the limited review of the same.

3 The business of the Company during the quarter under review continue to be impacted, though partially, by the covid 19 pandemic. However the Company is sparing no efforts to mitigate and further insulate itself from the continuing impact of the said pandemic on its future operations.

4 As the Company's main business activity falls with in a single primary Business segment viz. "Express Cargo" the disclosure requirements of Segment Reporting as per Indian Accounting Standard - 108 are not applicable.

೯೪ಽ For TCI Express Limited $\frac{1}{2}$ ίū, $\overline{m}$ 75 Chander Agarwal Place: Gurugram Managing Director Date: July 28, 2021

R. S. Agarwala & Co.

Chartered Accountants

28, Black Burn 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 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

• $\mathbf{1}$ . We have reviewed the accompanying statement of unaudited financial results of TCI Express Limited (the "Company") for the quarter ended June 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").
• $2^{\circ}$ This Statement, which is the responsibility of the 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, (lnd 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.
• We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) $31$ 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the 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.
• Based on our review conducted as above, nothing has come to our attention that causes us to believe that the 4. 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 of the 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: 21005534AAAAAAE5104

Place: Kolkata Date: July 28, 2021