Interim report
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91 40 27840104 Website: www.tciexpress.in Corporate Office: Plot No. 84, 3rd Floor, 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 Dated: November 05, 2026 Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street-Mumbai-400001 Scrip Code: 540212 Listing Department National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai-400051 Scrip Symbol: TCIEXP Sub: Outcome of Board Meeting - TCI Express Limited Ref: Regulation 30 & 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, This is in continuation to our letter dated October 26, 2026, wherein we had intimated your good office regarding the convening of the meeting of the Board of Directors of TCI Express Limited (‘the Company’) on Thursday, November 05, 2026. Further to the aforesaid intimation, and pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors (‘the Board’), at its meeting held today, has inter alia transacted and approved the following matters: 1. Un-audited Financial Results (Standalone & Consolidated) of Company for the 2nd quarter/half year ended on September 30, 2026 (enclosed as Annexure -1); 2. Limited Review Report, as submitted by the Statutory Auditors of the Company on the above Results (enclosed as Annexure-2); 3. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has proposed the appointment of Ms. Ranjana Agarwal (DIN: 03340032) as a Non -Executive Independent Director of the Company, with effect from November 05, 2026, for a term of five (5) consecutive years, subject to the approval of the Members of the Company through Postal Ballot. The details as required pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2026/18 dated January 30, 2026 are enclosed herewith as Annexure-3. 4. The Board has also approved the Postal Ballot Notice seeking approval of the Members for the appointment of Ms. Ranjana Agarwal as a Non -Executive Independent Director of the Company, along with the related matters concerning the conduct of the Postal Ballot. The Board Meeting commenced at 01:15 P.M. (IST) and concluded at 4: 05 P.M. (IST). This intimation is also being uploaded on the website of the Company and can be accessed at the weblink: https://www.tciexpress.in/board- meetings?invid=26&key=4e732ced3463d06de0ca9a15b6153677
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91 40 27840104 Website: www.tciexpress.in Corporate Office: Plot No. 84, 3rd Floor, 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 Kindly take the above information on record and oblige. Thanking you, For TCI Express Limited PRIYANKA (Company Secretary & Compliance Officer) Encl: as above
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ANNEXURE -1 Statement of Unaudited Financial Results for the quarter and half year ended September 30,2026 xStandalone Half Year Ended Year EndedQuarter EndedHalf Year EndedQuarter Ended Year Ended PARTICULARSS.No. 7.687.68 7.687.697.687.697.69 7.68 811.12821.14 5.20 // 9 10 11 12 13 14 1 2 3 4 S 6 7 8 • For Identification Only Revenue from Operations Other Income Total Income Expenses Operating expenses Employee benefits expense Finance Costs Depreciation and amortisation expense Other Expenses Total Expenses Profit/(Loss) before Exceptional items and Tax (3-4) Exceptional Items Profit/(Loss) before tax (5-6) Tax Expense - Current -Deferred - For Earlier Years Total tax expenses Net Profit/(loss) after tax (7-8) Other Comprehensive lncome/(loss) (net of tax) Total Comprehensive Income (9+10) Paid Equity Share Capital (Face Value of INR 2/-Each) TCI EXPRESS LIMITED CIN:L62200TG2008PLC061781 Regd. Office : Flat Nos. 306 8i 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road, Secunderabad - 500 003 (TG) Corp. Office : 3rd Floor, Plot No. 84, Institutional Area, Sector-32, Gurugram-122 001 Tel.: + 91124 2384090-94, E-mail: secretarial(S>tciexpress.in, Website: www.tciexpress.in ___________ (INR In Crores except as stated) Consolidated ..-...........LEADER IH EXPRESS--------------- 241,55 36.82 0.90 6.94 17.93 304.14 35.15 35.15 7.85 0.64 8.49 26.66 (0.37) 26.29 7.69 6.94 6.93 226.01 36.36 0.67 6.79 15.95 285.78 29.53 29.53 7.35 (0-20) 7.15 22.38 (0-54) 21.84 7.68 5.69 5.68 220.06 34.36 0.33 5.33 18.71 278.79 33.19 6.55 6.53 15.65 49.03 (0-91) 48.12 12.77 12.74 426.02 68.35 0.58 10.65 35.52 541.12 61.05 14.86 46.19 0.18 46.37 61.05 12.74 2.12 12.03 12.02 886.96 140.47 1.87 25.39 76.96 1,131.65 118.77 23.39 23.35 243.34 39.53 1.18 7.29 18.78 310.12 31.97 31.97 7.86 0.64 8.50 23.47 1.00 24.47 227.29 38.19 0.78 7.03 16.50 289.79 27.64 27.64 7.35 (0-20) 7.15 20.49 (0-54) 19.95 220.06 35.57 0.38 5.42 19.39 280.82 31.95 8.04 23.91 (0-55) 23.36 6.23 6.21 15.65 43.97 0.46 44.43 59.62 15.21 0.44 11.08 11.05 426.02 70.72 0.64 10.74 36.92 545.04 58.24 14.86 43.38 0.18 43.56 58.24 12.74 2.12 11.30 11.29 886.97 145.87 2.13 25.74 79.32 1,140.03 112.65 2.28 110.36 27.42 1.37 0.14 28.93 81.43 3.69 85.12 21.21 21.16 June 30, 2026 Unaudited 311.95 3.36 315.31 Sep 30, 2025 Unaudited 308.53 3.45 311.98 33.19 7.75 0.29 Sep 30, 2025 Unaudited 595.28 6.89 602.17 31.95 7.75 0.29 Sep 30, 2026 Unaudited 651.42 8.10 659.52 470.63 77.72 1.96 14.32 35.27 599.90 59.62 Sep 30, 2025 Unaudited 595.28 8.00 603.28 Sep 30, 2026 Unaudited 335.91 3.38 339.29 Sep 30, 2026 Unaudited 647.85 6.74 654.59 Mar 31, 2026 Audited 1,236.16 14.26 1,250.42 Sep 30, 2026 Unaudited 338.02 4.07 342.09 June 30, '>2026 Unaudited 313.40 4.03 317.43 Sep 30, 2025 Unaudited 308.53 4.24 312.77 Mar 31, 2026 Audited 1,237.41 15.26 1,252.67 5.74 5Z3-fc-S^5.19 8.04 25.15 (0.55) 24.60 7.68 467.56 73.17 1.57 13.73 33.88 589.91 64.68 64.68 15.21 0.44 118.77 27.42 1.37 0.14 28.93 89.84 0.39 90.23 7.68 CHANDElj^^r AGARWA^agarwal . Z-DSte:2026.11.05 L /'/ 16•n6•^R4-ns,^n, Other Equity as per Balance Sheet Earning Per Share (not annualised) Basic Earning Per Share (INR) Diluted Earning Per Share (INR) £ X ^DaccO' o
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ANNEXURE-I 4 5 ★ Place: Gurugram Date : November 05,2026 • For Identification Only 1 .05 16:07:14+05 30' TCI EXPRESS LIMITED ON: L62200TG2008PLC061781 Regd. Office: Flat Nos. 306 & 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road, Secunderabad - 500 003 (TG) Corp. Office : 3rd Floor, Plot No. 84, Institutional Area, Sector-32, Gurugram-122 001 Tel: + 91124 2384090-94, E-mail: secretarial(g>tciexpress.in. Website: www.tciexpress.in --------------LEADER IN EXPRESS--------------- 2 T The Financial Results of the Company for the quarter and half year ended September 30,2026 were reveiwed by the Audit Committee and thereafter approved by the Board of Directors of the Company at their respective meetings held on November 05, 2026. The Statutory Auditors of the Company have carried out the Limited Review of the financial results in terms of Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The consolidated figures includes financials of its subsidiaries. The figures for the quarter ended September 30, 2026 and preceding quarter ended September 30, 2025 are the balancing figures between the unaudited figures for the half year ended September 30 and unaudited published figures for the three months ended June 30. The figures for the corresponding previous periods have been regrouped and reclassified wherever necessary, to make them comparable. The above results have been prepared in accordance with the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India.____________ ■ ________ During the previous financial year 2024-2025, the Additional Commissioner of Central Goods and Services Tax, Gurugram Commissionerate had issued a demand order and raised the GST Tax liability of INR 51.36 Crores along with applicable interest and penalty, for the period from July 01, 2017 to March 31, 2022. It states that the Company has not discharged its Goods and Services Tax liability under Reverse Charge (RCM) on GTA supplies received from its transporters, thereby, resulting in non-payment of GST. In response to the said demand order the Company had preferred an appeal before the Commissioner (Appeals) GST, which was rejected vide order dated December 30, 2025. Based on underlying facts, applicable laws and industry standards, the Company has filed an appeal before Goods and Services Tax Appeallate Tribunal, Haryana, and the Company is confident of prevailing against the Department's position and does not anticipate any adverse financial outcome._________________________________________________ Exceptional item represents the impairment of investment amounting to INR 2.28 crores for the year ended March 31,2026. ______________________________________________________________ As the Company's main business activity falls within a single primary Business segment viz. "Express Cargo", the disclosure requirements of Segment Reporting as per Indian Accounting Standard -108 are not applicable. £ 7 Notes:- 1 For TCI Express Limited CHANDER^handebamrw AGARW^S:X Chander Agarwal _________(Managing Director) -i? ' For Identification uj Only Jr %>acgO^
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TCIEXPRESS LEADER IN EXPRESS Particulars Audited Audited A ASSETS 1 1,000.11 1,024.75 B 1 9.75 O, As at March 31,2026 As at March 31,2026 As at Sep 30,2026 As at Sep 30,2026 ______ Standalone Unaudited (INR In Crores except as stated) Consolidated Unaudited 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: 3rd Floor, Plot No. 84, Institutional Area, Sector-32, Gurugram-122 001 Tel.: + 91124 2384090, E-mail: secretarial@tciexpress.in, Website: www.tciexpress.in Summary of Assets and Liabilities as at September 30,2026, , 83.62 272.30 3.65 5.41 0.27 23.25 4.06 12.62 405.18 2.28 1,071.14 45.72 12.83 49.63 663.68 7.69 870.79 878.48 16.36 17.08 3.06 36.50 15.23 9.79 37.88 7.69 16.95 585.07 7.68 821.14 828.82 443.15 49.63 28.54 1.23 20.44 16.29 3.06 39.79 7.69 856.31 864.00 492.57 45.08 70,59 0.75 0.27 3.28 14.30 50.23 677.07 15.23 9.79 7.68 811.12 818.80 495.67 49.63 28.54 1.23 0.27 120.96 238.65 16.11 3.93 0.33 22.59 5.60 12.24 420.41 31.21 20.44 16.29 3.06 71.00 1.96 9.75 Non-Current Assets________ Property, Plant and Equipment Right of Use Assets_________ Capital Work in Progress_____ Other Intangible Assets______ Goodwill________________ Financial Assets Investments_____________ Other Financial Assets Other Non-Current Assets Total Non Current Assets 2 Current Assets____________ Financial Assets___________ Investment_____________ Trade receivables Cash and cash equivalents Other bank balances______ Loans_________________ Other Financial assets______ Current Tax Assets ( Net) Other current assets________ Total Current Assets_______ Non current asset held for sale TOTAL ASSETS 2 Current Liabilities__________ Financial Liabilities_________ Borrowings_____________ Lease Liability___________ Trade Payables__________ ______ -MSME_____________ ______ - Others_____________ _ Other Financial Liabilities Other Current Liabilities______ Provisions________________ Total Current Liabilities______ Total Liabilities____________ TOTAL EQUITY AND LIABILITIES LIABILITIES_____________ Non-Current Liabilities Financial Liabilities_______ Borrowings___________ Lease Liability_________ Deferred Tax Liabilities (Net) Provisions______________ Total Non-Current Liabilities 1.25 81.60 12.91 25.82 9.56 156.16 192.66 1,071.14 2.21 78.99 10.76 23,73 6.06 131.50 171.29 1,000.11 120i96 238.63 11.46 3.93 0.33 22.50 5.60 11,63 415.04 83.62 273.51 8.47 5.41 0.27 23.34 4.06 17.23 415.91 2.28 1,095.26 32.47 16.36 17.08 3.06 68.97 EQUITY AND LIABILITIES EQUITY______________ Equity Share Capital Other Equity_________ TOTAL EQUITY _________1.25 ________82.29 ~ ________13.64 ~ ________30.53 ~ ________9.56 ~ 162.29 231.26 1,095.26*1 CHANDER A Z“ A r» » / A I ____________ 2.21 ___________ 79.15 ___________ 11.85 __________ 23.98 ____________ 6.05 _________ 134.95 _________205.95 ________ 1,024.75 L Digitally signed by K CHANDER AGARWAL / Date: 2026.11.0S 1607:40 439.08 45.08 70.59 0.75 2.94 9.11 16.95 604.34 * . ■ For --It Identification co Only H An O/
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Particulars A. 64.67 118.77 59.64 110.36 B. C. ■I lO1 f * ■ I 'Sj (Audited) Year Ended Mar 31, 2026 TCIEX^HESS ------- -LEADER IN EXPRESS----- — (Audited) Year Ended Mar 31,2026 ________ Standalone (Unaudited) Quarter Ended Sep 30, 2026 Operating Profit Before Working Capital Changes_____________ Adjustment For:______________________ ________ (lncrease)/Decrease in Trade Receivable______________________ (lncrease)/Decrease Loans, Other Financial Assets And Other Asset lncease/(Decrease) in Increase Trade Payables________________ lncrease/(Decrease) in Financial Liabilities, Other Liabilities and Pr< Cash Generation From Operations__________________________ Direct Taxes Paid__________________________________ Net Cash Flow From Operating Activities (A)_____________ - Cash Flow From Investing Activities________________________ Purchase of Property, Plant And Equipment Including Capital Work In Progress, Intangiable Assets, Right Of Use Assets and Advances for Capex ______________________ Proceeds on Sale of Property, Plant And Equipment____________ Proceeds of Investments (Net)_____________________________ Interest/ Dividend Received________________________________ Net Cash Flow From Investing Activities (B)_________________ Cash Flow From Financing Activities_________________________ Proceed From Borrowings (Net)_____________________________ Proceeds From Issuance of Share Capital (ESOS)_______________ Interest Paid on Lease Liabilities_____________________________ Payment of Dividends_____ _________________________ Finance Cost Paid _____ Net Cash Flow From Financing Activities (C)_________________ Net Increase in Cash And Cash Equivalents (A+B+C)____________ Opening Cash and Cash Equivalents_________________________ Closing Cash and Cash Equivalents (34.33) (10.58) 1.66 8.54 45.44 (13.31) 32.13 (0-67) 10.62 (7.80) 11.46 3.65 15.24 0.99 (4.95) 13.73 0.06 0.66 0.03 1.57 (0.10) (0.47) 15.48 80.15 (15.87) (13.08) (3.95) 25.32 130.33 (26.53) 103.80 (41.01) 0.95 10.51 11.46 25.39 0.52 3.04 0.63 1.87 (11.49) (0.82) 19.14 137.91 1.74 (8.18) (34.57) (79.40) 0.97 15.21 1.38 (61.84) (81.43) 0.11 42.39 0.09 (38.84) (37.41) (12.36) 2.18 7,81 31.50 (13.89) 17.61 (1.06) 13.59 (7-64) 16.11 8.47 14.56 0.99 (0.90) 14.32 0.06 0.66 0.03 1.96 (0.09) (5.30) 11.64 71.28 (125.30) 0.97 34.01 1.38 (88.94) (12.87) (13.62) (6.85) 29.19 128.24 (26.81) 101.43 2.28 25.74 0.53 3.04 0.63 2.13 (0.23) (12.09) 22,03 132.39 CASH FLOW FROM OPERATING ACTIVITIES___________ Net Profit Before Tax Adjustments For:_________________________________ Exceptional Items________________________________ Depreciation and Amortisation _____________ Loss on Disposal of Property, Plant and Equipment (Net) Provision for Expected Credit Loss ____________ Employee Stock Option Compensation_______________ Finance Costs_______ Interest and Dividend Income______________________ Income on Sale Of Investments (Net) (80.83) 0.11 30.07 0.10 (50.55) 33.15 1.73 (8.18) (34.57) (0.26) (8.13) 4.36 11.75 16.11 |:or n Identification Only f r u a N D F R Di9ital|y si9ned bv \_t i/^iNL/i_n^-HANDERAGARWAL AGARV^tSr«"3“ TCI EXPRESS LIMITED CIN:L62200T62008PLC061781 Regd. Office: Flat Nos. 306 & 307,1-8-271 to 273, Ashoka Bhoopal Chambers, S.P. Road, Secunderabad - 500 003 (TG) Corp. Office :3rd Floor, Plot No. 84, Institutional Area, Sector-32, Gurugram-122 001 Tel.: + 91124 2384090, E-mail: secretarial@tciexpress.in. Website: www.tciexpress.in Summary of Statement of Cash Flow for the Period ended Sep 30,2026_______________ (INR In Crores except as stated) _______ Consolidated (Unaudited) Quarter Ended Sep 30, 2026 • For tO Identification y, Only fr % ^S'OACC°'i
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Chartered Accountants 48, Masilamani Road, Balaji Nagar, Royapettah, T: +91 - 044 - 2813 1128/38/48 | F: +91 - 044 - 2813 1158 Chennai - 600 014. India. E: mail@brahmayya.com | www.brahmayya.com Independent Auditor’s Review Report on Unaudited Standalone Quarterly and Year-to-Date Financial Results of TCI Express Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To, The Board of Directors TCI Express Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of TCI Express Limited (“the Company”), for the quarter ended 30th September 2026 and for the period from 1st April 2026 to 30th September 2026 (the “Statement”), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 2. The Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34, “Interim Financial Re porting” (“Ind AS 34”) prescribed under Section 133 of the Companies Act, 2013, as amended, 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. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of Indi a (“ICAI”). 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 persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conduc ted 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. 4. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. Emphasis of Matter Attention is invited to Note No. 5 to the Statement, in respect of GST Demand on account of GST payable on reverse charge mechanism, amounting to INR 51.36 Crores along with applicable interest and penalty. Consequent to the demand raised, the Company had preferred an appeal before the Office of the Commissioner (Appeals) on 12th March 2025. This appeal has since been rejected vide order dated 30 th December 2025. Based on the underlying facts, the Company has filed an appeal before Goods and Services Tax Appellate Tribunal (GSTAT, Haryana). As represented by the management, the Company is confident of prevailing against the department’s position and does not anticipate any adverse financial outcome. Accordingly, no adjustments are envisaged in the financial results for the quarter and period ended 30 th September 2026. Our conclusion is not modified in respect of this matter. For Brahmayya & Co., Chartered Accountants Firm Registration No. 000511S Lokesh Vasudevan Partner Place: Chennai Membership No. 222320 Date: 5th November 2026 UDIN: 26222320NIIVIM5766
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Chartered Accountants 48, Masilamani Road, Balaji Nagar, Royapettah, T: +91 - 044 - 2813 1128/38/48 | F: +91 - 044 - 2813 1158 Chennai - 600 014. India. E: mail@brahmayya.com | www.brahmayya.com Independent Auditor’s Review Report on Unaudited Consolidated Quarterly and Year-to-Date Financial Results of TCI Express Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To, The Board of Directors TCI Express Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of TCI Express Limited (the “Holding Company”), and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”) for the quarter ended 30th September 2026 and for the period from 1 st April 2026 to 30 th September 2026 (“the Statement”), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 2. The Statement, which is the responsibility of the Holding Company’s Management and approved by the Holding Company’s Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”) prescribed under Section 133 of the Companies Act, 2013, as amended, 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. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of Indi a (“ICAI”). 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 persons responsible f or 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. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The Statement include the results of the following entities: i) TCI Express Limited (Holding Company) ii) TCI Express Pte Ltd. (Subsidiary) iii) TCI Global (Singapore) Pte. Ltd. (Subsidiary) (with effect from 26 th January 2026) 5. Based on our review conducted and procedures performed as stated in paragraph 3 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 d own in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. Emphasis of Matter Attention is invited to Note No. 5 to the Statement, in respect of GST Demand on account of GST payable on reverse charge mechanism by the Holding Company, amounting to INR 51.36 Crores along with applicable interest and penalty. Consequent to the demand r aised, the Holding Company had preferred an appeal before the Office of the
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Chartered Accountants 48, Masilamani Road, Balaji Nagar, Royapettah, T: +91 - 044 - 2813 1128/38/48 | F: +91 - 044 - 2813 1158 Chennai - 600 014. India. E: mail@brahmayya.com | www.brahmayya.com Commissioner (Appeals) on 12th March 2025. This appeal has since been rejected vide order dated 30th December 2025. Based on the underlying facts, the Holding Company has filed an appeal before Goods and Services Tax Appellate Tribunal (GSTAT, Haryana). As represented by the management, the Holding Company is confident of prevailing against the department’s position and does not anticipate any adverse financial outcome. Accordingly, no adjustments are envisaged in the Statement for the quarter ended 30th September 2026. Our conclusion is not modified in respect of this matter. 7. The Statement includes the interim financial results of two subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total assets of INR 66.57 crores as at 30th September 2026 and total revenue of INR 2.81 crores and INR 4.93 crores, total net loss after tax and total comprehensive loss of INR 3.15 crores and INR 5.04 crores for the quarter ended 30th September 2026 and for the period from 1st April 2026 to 30th September 2026, respectively and net cash inflow of INR 0.17 crores for the period from 1st April 2026 to 30 th September 2026, respectively as considered in the Statement. According to the information and explanations given to us by the management, these interim financial results are not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter. For Brahmayya & Co., Chartered Accountants Firm Registration No. 000511S Lokesh Vasudevan Partner Place: Chennai Membership No. 222320 Date: 5 th November 2026 UDIN: 26222320NNLHSR2952
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91 40 27840104 Website: www.tciexpress.in Corporate Office: Plot No. 84, 3rd Floor, 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 Annexure-3 Name and DIN of the Director Mrs. Ranjana Agarwal (DIN: 03340032) Reason for change viz. appointment , resignation, removal, death or otherwise 1. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has proposed the appointment of Ms. Ranjana Agarwal, as a Non -Executive Independent Woman Director of the Company for a term of five (5) consecutive years, subject to the approval of the Members of the Company. Date of appointment/ cessation (as applicable) & term of appointment Date of Appointment: November 05, 2026 2. Term of Appointment : Five (5) consecutive years, commencing from November 05, 2026 and ending on November 04, 2031 ( both days inclusive). Her Office shall not be liable to retire by rotation. Brief Profile (in case of appointment) Mrs. Ranjana Agarwal is a Chartered Accountant from the Institute of Chartered Accountants of India and an Economics (Hons.) graduate from Lady Shri Ram College, Delhi University. She worked in Pricewater House & Co. and Vaish Associates Advocates up to 1982 and then founded Vaish & Associates, Chartered Accountants in 1985. She later forged an affiliation with Deloitte Haskins & Sells As senior partner she has experience in Risk Assurance, taxation, business advisory, business valuations and corporate governance and compliance. After a decade of experience as a board member on several listed companies and chairing several key committees, she is currently on the board of RBL Bank Ltd., Indag Rubber Limited and RBL Finserve Limited. She is the recipient of the Indira Gandhi Priyadarshini Award for professional excellence and entrepreneurship and was National President of women wing of FICCI FLO and has been a jury member of the FICCI CSR Awards and FICCI corporate women awards. She is actively involved with a
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91 40 27840104 Website: www.tciexpress.in Corporate Office: Plot No. 84, 3rd Floor, 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 For TCI Express Limited PRIYANKA (Company Secretary & Compliance Officer) number of NGOs working in the field of education and health. Disclosure of relationships between Directors (in case of appointment of Director) She is not inter-se related to any of the Directors or Promoters of the Company. Information as required pursuant to BSE Circular with ref. no. LIST/ COMP/ 14/2018 19 and the National Stock Exchange of India Ltd with ref. no. NSE/ CML/2018/24, both dated June 20, 2018 She is not debarred from holding office of a Director by virtue of any SEBI Order or any other such authority.