Logistics · Founded 2012 · www.tarachandindia.in · NSE · ISIN INE555Z01020
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Business
Tara Chand Infralogistic Solutions Ltd. is an integrated logistics and supply chain solutions provider based in India. The company specializes in offering comprehensive logistics services, with a significant focus on "Project Logistics." Its core services include freight forwarding (road, rail, air, and sea), customs clearance, warehousing and distribution, heavy haulage, Over Dimensional Cargo (ODC) movement, and port handling/stevedoring. The company caters to diverse sectors such as power, oil & gas, infrastructure, renewables, and manufacturing, providing end-to-end solutions for complex and large-scale projects. Revenue is generated by executing these specialized transportation and handling projects, managing supply chains, and offering various logistics services, typically charged based on the scope, complexity, and type of service rendered.
Revenue Mix
While specific revenue percentages are not publicly detailed without access to full financial reports, the company's service offerings indicate the following operational segments:
Project Logistics & Heavy Haulage/ODC: This appears to be a core specialization, involving the movement of large, heavy, or oversized equipment critical for industrial and infrastructure projects. This segment likely contributes significantly due to its specialized nature and higher value per project.
Freight Forwarding: Encompasses multimodal transportation services (road, rail, air, sea) for general cargo, serving various industries.
Warehousing & Distribution: Provides storage, inventory management, and distribution services as part of integrated supply chain solutions.
Customs Clearance & Port Services: Offers crucial support services for international trade, including customs brokerage, stevedoring, and other port-related handling.
Industry
The Indian logistics sector is a vast and growing market, characterized by fragmentation, increasing formalization, and significant government focus on infrastructure development (e.g., National Logistics Policy, Gati Shakti). Tara Chand Infralogistic Solutions positions itself as an integrated logistics provider with a distinct specialization in the niche of Project Logistics, ODC, and heavy haulage. This focus differentiates it from general freight carriers or express delivery companies. It competes with other specialized project logistics firms and the project divisions of larger, diversified logistics conglomerates. Its specialization allows it to address complex industrial requirements, potentially commanding higher margins compared to commoditized logistics services.
MOAT
Specialized Expertise & Equipment: The company possesses specialized knowledge, permits, and equipment (such as multi-axle trailers, hydraulic modular trailers, cranes) required for handling Over Dimensional Cargo and heavy lifts. This acts as a barrier to entry for general logistics players.
Client Relationships & Track Record: Successful execution of large-scale, complex projects for industrial and infrastructure clients builds trust and long-term relationships, leading to repeat business and referrals.
Integrated Solutions Capability: The ability to offer end-to-end solutions, from planning and customs clearance to transportation and site delivery, adds significant value for clients and streamlines their project execution.
Regulatory Knowledge: Expertise in navigating complex regulatory landscapes, obtaining necessary permits for ODC movement across states, and customs procedures provides a crucial operational advantage.
Growth Drivers
Infrastructure Spending: The Indian government's substantial investments in infrastructure projects (roads, ports, railways, industrial corridors) and initiatives like the National Infrastructure Pipeline (NIP) and Gati Shakti master plan will drive sustained demand for project logistics and heavy haulage.
Manufacturing & Industrial Growth: The "Make in India" initiative and expansion of core manufacturing sectors (e.g., capital goods, cement, steel, automotive, renewables) will increase the need for specialized logistics to transport machinery and components.
Energy Transition: Growth in the renewable energy sector (wind, solar) requires specialized logistics for transporting large components like wind turbine blades and heavy equipment.
Economic Growth: Overall robust economic growth in India translates into increased industrial activity, trade, and consumption, boosting demand across the logistics value chain.
Logistics Sector Reforms: Continued benefits from GST implementation and the National Logistics Policy improving efficiency, formalization, and reducing transit times.
Risks
Project Cyclicality: Demand for project logistics is closely tied to the capital expenditure cycles of industries and government infrastructure spending, which can be volatile and subject to economic fluctuations.
Fuel Price Volatility: Fuel costs are a major operational expense. Significant and sustained increases in fuel prices can impact profitability if not effectively hedged or passed on to clients.
Intense Competition: While specialized, the logistics sector remains competitive with other niche players and the project divisions of larger, diversified logistics conglomerates vying for contracts.
Regulatory & Permitting Challenges: Navigating diverse state-level regulations and obtaining timely permits for ODC movement can lead to operational delays and increased costs.
Infrastructure Bottlenecks: Despite improvements, persistent infrastructure bottlenecks in certain regions (e.g., road quality, port congestion) can still impede operations and increase transit times.
Capital Intensity: Acquiring and maintaining specialized heavy haulage equipment requires substantial capital investment and ongoing maintenance, impacting cash flow.
Management & Ownership
Tara Chand Infralogistic Solutions Ltd. is a promoter-led company. Mr. Tara Chand Agarwal serves as the Chairman & Managing Director, indicating a hands-on leadership approach. Promoter groups typically hold a significant stake in such companies, providing stability and aligning management interests with long-term growth. The management team likely possesses deep industry experience and operational expertise, critical for successfully executing complex project logistics. The ownership structure includes a substantial promoter holding, with the remaining shares held by the public, comprising institutional and retail investors.
Outlook
Tara Chand Infralogistic Solutions Ltd. is strategically positioned to capitalize on India's burgeoning infrastructure and industrial growth. Its specialized focus on high-value Project Logistics and Heavy Haulage gives it a distinct advantage in a market segment set for significant expansion due to government initiatives and manufacturing push. The company's proven expertise and established client relationships provide a solid foundation for securing new complex projects.
However, the company faces inherent risks associated with project cyclicality, high operating costs influenced by fuel price volatility, and competition. Sustaining growth will depend on its ability to continuously secure large-scale projects, efficiently manage its capital-intensive assets, adapt to evolving regulatory environments, and mitigate operational challenges. While the long-term outlook for specialized logistics in India appears favorable, successful navigation of economic cycles and competitive pressures will be key to its performance.
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| #(Fig in Cr.) | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 39 | 42 | 44 | 46 | 46 | 56 | 64 | 61 | 66 | 69 |
| Other Income | 1 | 1 | 0 | 0 | 2 | 4 | -0 | 1 | 1 | 1 |
| Total Income | 40 | 43 | 45 | 47 | 47 | 60 | 64 | 62 | 67 | 69 |
| Total Expenditure | 27 | 29 | 30 | 30 | 31 | 39 | 43 | 39 | 41 | 44 |
| Operating Profit | 13 | 14 | 15 | 17 | 16 | 22 | 21 | 23 | 26 | 26 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Depreciation | 7 | 8 | 8 | 6 | 8 | 10 | 12 | 12 | 14 | 16 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 4 | 3 | 5 | 9 | 6 | 10 | 7 | 9 | 10 | 7 |
| Provision for Tax | 1 | 1 | 1 | 3 | 2 | 2 | 2 | 2 | 3 | 2 |
| Profit After Tax | 4 | 3 | 3 | 6 | 5 | 7 | 5 | 6 | 7 | 5 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 4 | 3 | 3 | 6 | 5 | 7 | 5 | 6 | 7 | 5 |
| Adjusted Earnings Per Share | 0.5 | 0.4 | 0.5 | 0.8 | 0.6 | 0.9 | 0.7 | 0.8 | 0.9 | 0.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 39 | 46 | 52 | 81 | 101 | 115 | 110 | 128 | 141 | 172 | 248 | 260 |
| Other Income | 0 | 1 | 1 | 2 | 1 | 0 | 2 | 2 | 4 | 3 | 6 | 3 |
| Total Income | 39 | 46 | 53 | 83 | 102 | 115 | 113 | 130 | 145 | 175 | 254 | 262 |
| Total Expenditure | 30 | 36 | 41 | 66 | 80 | 80 | 76 | 98 | 103 | 117 | 170 | 167 |
| Operating Profit | 9 | 10 | 12 | 17 | 21 | 36 | 37 | 32 | 42 | 58 | 84 | 96 |
| Interest | 4 | 3 | 3 | 4 | 5 | 8 | 9 | 9 | 8 | 7 | 7 | 9 |
| Depreciation | 5 | 5 | 4 | 6 | 10 | 17 | 22 | 23 | 22 | 29 | 44 | 54 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -2 | 3 | 1 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 2 | 4 | 6 | 7 | 11 | 3 | 3 | 13 | 22 | 33 | 33 |
| Provision for Tax | 0 | 1 | 1 | 2 | 2 | 3 | 0 | 1 | 3 | 6 | 8 | 9 |
| Profit After Tax | 1 | 1 | 3 | 5 | 5 | 8 | 3 | 2 | 9 | 16 | 25 | 23 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 1 | 3 | 5 | 5 | 8 | 3 | 2 | 9 | 16 | 25 | 23 |
| Adjusted Earnings Per Share | 0.1 | 0.3 | 0.6 | 0.7 | 0.7 | 1.2 | 0.4 | 0.3 | 1.4 | 2.1 | 3.2 | 3.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 44% | 25% | 17% | 20% |
| Operating Profit CAGR | 45% | 38% | 18% | 25% |
| PAT CAGR | 56% | 132% | 26% | 38% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -6% | 47% | 50% | NA% |
| ROE Average | 23% | 19% | 14% | 13% |
| ROCE Average | 20% | 17% | 13% | 13% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 11 | 12 | 15 | 41 | 46 | 52 | 55 | 57 | 72 | 95 | 121 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 22 | 19 | 27 | 34 | 26 | 56 | 66 | 49 | 46 | 47 | 70 |
| Other Non-Current Liabilities | 1 | 0 | 4 | 11 | 28 | 47 | 46 | 40 | 54 | 64 | 138 |
| Total Current Liabilities | 14 | 15 | 20 | 31 | 36 | 41 | 52 | 56 | 54 | 50 | 61 |
| Total Liabilities | 48 | 46 | 66 | 117 | 136 | 196 | 219 | 203 | 227 | 257 | 391 |
| Fixed Assets | 30 | 28 | 39 | 64 | 85 | 131 | 139 | 124 | 144 | 180 | 272 |
| Other Non-Current Assets | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 7 | 14 | 24 |
| Total Current Assets | 17 | 18 | 28 | 52 | 50 | 65 | 80 | 78 | 76 | 62 | 95 |
| Total Assets | 48 | 46 | 66 | 117 | 136 | 196 | 219 | 203 | 227 | 257 | 391 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 2 | 4 | 6 | 17 | 5 | 9 | 3 | 4 | 12 | 0 |
| Cash Flow from Operating Activities | 0 | 10 | 8 | 11 | 26 | 41 | 12 | 34 | 42 | 46 | 56 |
| Cash Flow from Investing Activities | -5 | -1 | -14 | -31 | -29 | -63 | -29 | -13 | -26 | -55 | -58 |
| Cash Flow from Financing Activities | 5 | -6 | 8 | 30 | -8 | 26 | 10 | -21 | -9 | -2 | 21 |
| Net Cash Inflow / Outflow | 0 | 2 | 2 | 11 | -12 | 4 | -7 | 0 | 7 | -11 | 20 |
| Closing Cash & Cash Equivalent | 2 | 4 | 6 | 17 | 5 | 9 | 3 | 3 | 12 | 0 | 20 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.15 | 0.25 | 0.59 | 0.68 | 0.7 | 1.17 | 0.38 | 0.35 | 1.37 | 2.13 | 3.15 |
| CEPS(Rs) | 1.14 | 1.25 | 1.5 | 1.61 | 2.17 | 3.69 | 3.64 | 3.74 | 4.66 | 6 | 8.69 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0.15 | 0 | 0 | 0 | 0 | 0.2 |
| Book NAV/Share(Rs) | 2.41 | 2.66 | 3.27 | 5.99 | 6.69 | 7.68 | 8.05 | 8.4 | 9.77 | 12.28 | 15.36 |
| Core EBITDA Margin(%) | 23.34 | 20.22 | 20.29 | 18.55 | 20.39 | 30.65 | 31.03 | 23.6 | 23.6 | 28.1 | 26.87 |
| EBIT Margin(%) | 12.1 | 11.17 | 14.07 | 13.16 | 11.25 | 16.04 | 11.05 | 9.92 | 12.55 | 14.67 | 13.99 |
| Pre Tax Margin(%) | 2.55 | 3.89 | 7.76 | 7.93 | 6.54 | 9.18 | 2.77 | 2.52 | 7.79 | 10.98 | 11.44 |
| PAT Margin (%) | 1.77 | 2.6 | 5.35 | 5.69 | 4.7 | 6.95 | 2.33 | 1.85 | 5.75 | 8.16 | 8.55 |
| Cash Profit Margin (%) | 13.64 | 12.78 | 13.53 | 13.53 | 14.64 | 21.95 | 22.58 | 19.91 | 19.55 | 23.03 | 23.58 |
| ROA(%) | 1.5 | 2.53 | 4.93 | 5.04 | 3.76 | 4.8 | 1.24 | 1.12 | 4.35 | 6.67 | 7.67 |
| ROE(%) | 6.35 | 10.04 | 20.01 | 16.41 | 10.97 | 16.25 | 4.78 | 4.23 | 15.09 | 20.18 | 23.21 |
| ROCE(%) | 11.83 | 11.85 | 14.68 | 13.96 | 11.77 | 15.63 | 8.15 | 8.17 | 13.17 | 17.12 | 19.71 |
| Receivable days | 101.48 | 89.77 | 86.73 | 96.96 | 115.28 | 125.51 | 176.73 | 178.13 | 129.97 | 98.28 | 70.84 |
| Inventory Days | 2.67 | 4.88 | 7.69 | 7.95 | 9.66 | 10.54 | 14.43 | 12.76 | 7.41 | 4.57 | 2.25 |
| Payable days | 80.03 | 84.92 | 69.82 | 75.68 | 94.42 | 128.76 | 171.14 | 186.35 | 134.23 | 113.69 | 128.58 |
| PER(x) | 0 | 0 | 0 | 14.66 | 10.58 | 5.94 | 17.59 | 28.75 | 12.4 | 17.17 | 19.69 |
| Price/Book(x) | 0 | 0 | 0 | 1.65 | 1.1 | 0.9 | 0.82 | 1.19 | 1.74 | 2.97 | 4.04 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 2.16 | 0 | 0 | 0 | 0 | 0.32 |
| EV/Net Sales(x) | 1.01 | 0.77 | 0.86 | 1.3 | 0.95 | 1.08 | 1.34 | 1.24 | 1.36 | 2.1 | 2.35 |
| EV/Core EBITDA(x) | 4.23 | 3.59 | 3.87 | 6.2 | 4.49 | 3.48 | 4.04 | 4.91 | 4.57 | 6.2 | 6.9 |
| Net Sales Growth(%) | 63.77 | 17.17 | 13.25 | 56.43 | 24.71 | 13.58 | -3.98 | 16.42 | 10.04 | 21.95 | 44.06 |
| EBIT Growth(%) | 88.98 | 8.15 | 42.63 | 46.41 | 6.56 | 61.94 | -33.82 | 4.51 | 60.59 | 41.87 | 40.3 |
| PAT Growth(%) | 5.52 | 71.69 | 133.1 | 66.4 | 3.05 | 67.83 | -67.81 | -7.45 | 294.28 | 72.42 | 54.08 |
| EPS Growth(%) | 5.52 | 71.69 | 133.1 | 13.73 | 3.05 | 67.83 | -67.81 | -7.45 | 294.29 | 55.03 | 48.32 |
| Debt/Equity(x) | 2.89 | 2.42 | 2.72 | 1.35 | 1.12 | 1.64 | 1.92 | 1.64 | 1.31 | 0.91 | 0.93 |
| Current Ratio(x) | 1.22 | 1.22 | 1.4 | 1.7 | 1.39 | 1.58 | 1.55 | 1.4 | 1.4 | 1.23 | 1.54 |
| Quick Ratio(x) | 1.19 | 1.17 | 1.33 | 1.63 | 1.3 | 1.5 | 1.44 | 1.33 | 1.34 | 1.19 | 1.52 |
| Interest Cover(x) | 1.27 | 1.53 | 2.23 | 2.51 | 2.39 | 2.34 | 1.34 | 1.34 | 2.64 | 3.98 | 5.49 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0.82 | 1.02 | 1.82 | 2.33 | 1.37 | 0.75 | 0.31 | 0.23 |
| # | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.34 | 69.68 | 69.62 | 69.61 | 69.6 | 70.67 | 70.68 | 70.68 | 71.14 | 71.64 |
| FII | 0 | 0 | 0 | 0 | 0.04 | 0.14 | 0.14 | 0.07 | 0.11 | 0.13 |
| DII | 0 | 0 | 0 | 0 | 0.51 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.66 | 30.32 | 30.38 | 30.39 | 29.84 | 29.19 | 29.18 | 29.25 | 28.75 | 28.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.04 | 1.06 | 1.08 | 1.1 | 5.49 | 5.57 | 5.57 | 5.57 | 5.61 | 5.65 |
| FII | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| DII | 0 | 0 | 0 | 0 | 0.04 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.38 | 0.46 | 0.47 | 0.48 | 2.35 | 2.3 | 2.3 | 2.31 | 2.27 | 2.23 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.41 | 1.52 | 1.55 | 1.58 | 7.88 | 7.88 | 7.88 | 7.88 | 7.88 | 7.88 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +44% | +25% | +17% | +20% |
| Operating Profit CAGR | +45% | +38% | +18% | +25% |
| PAT CAGR | +56% | +132% | +26% | +38% |
| Share Price CAGR | -6% | +47% | +50% | — |
| ROE Average | +23% | +19% | +14% | +13% |
| ROCE Average | +20% | +17% | +13% | +13% |
| # | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.34 | 69.68 | 69.62 | 69.61 | 69.6 | 70.67 | 70.68 | 70.68 | 71.14 | 71.64 |
| FII | 0 | 0 | 0 | 0 | 0.04 | 0.14 | 0.14 | 0.07 | 0.11 | 0.13 |
| DII | 0 | 0 | 0 | 0 | 0.51 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.66 | 30.32 | 30.38 | 30.39 | 30.4 | 29.33 | 29.32 | 29.32 | 28.86 | 28.36 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.04 | 1.06 | 1.08 | 1.1 | 5.49 | 5.57 | 5.57 | 5.57 | 5.61 | 5.65 |
| FII | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| DII | 0 | 0 | 0 | 0 | 0.04 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.38 | 0.46 | 0.47 | 0.48 | 2.4 | 2.31 | 2.31 | 2.31 | 2.27 | 2.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.41 | 1.52 | 1.55 | 1.58 | 7.88 | 7.88 | 7.88 | 7.88 | 7.88 | 7.88 |
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