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TransportCorporationofIndiaInvestorsPresentationFY2016-17(H1)

2

CautionaryStatementStatements in this “Presentation” describing the Company’s objectives, estimates, expectations or predictions maybe “forward looking statements” within the meaning of applicable securities laws and regulations. Actual resultscould differ materially from those expressed or implied. Important factors that could make a difference to theCompany’s operations include global and Indian demand supply conditions, cyclical demand and pricing in theCompany’s principal markets, changes in Government regulations, tax regimes, economic developments within Indiaand other factors. The Company assumes no responsibility to publicly amend, modify or revise any forward lookingstatement, on the basis of any subsequent development, information or events, or otherwise.

GroupTCI

3

KeyFacts

YearofEstablishment

Turnover

CompanyOwnedBranches

WarehouseCoveredArea

Vehicles/DayManagedonRoad

1958

2.5%

1400+

11MnSft

9000

MovementbyValueofIndiaGDP

2800Cr.

EmployeesStrength 6000+

Highlights2016-17(H1)

8Fulfilmentcenterswithdelivery

capacityof1Lacorders/day

InaugurationofWorld-ClassColdChain

WarehouseonPataudi Road,

Gurgaon

Incorporationof100%subsidiaryinBangladesh

as“TCIBangladeshLimited”

E-Com

ColdChain

ConnectingSAARC

GroupTCI

4

SBUs&Services

FTL/FCL,LTL&Over-dimensionalcargoservicesthroughRoad,Rail&Sea.

LeadingplayerinCoastalShipping,NVOCC&ProjectCargo

ASingle-windowsolutionsenablerfromConceptualizationtoImplementation

Catertolocallogisticsrequirementofacountry

JointVentureCompanies

JVwithCONCORtoprovideendtoendmultimodalsolutions.

JVwithMitsui&CoforAutologistics(ToyotaIndiaproject)

TCITransportationCompanyNigeriaLtd.

#TCIXPShasbeendemergedintoaseparateentryTCIExpressLtdatthecloseofbusinesshoursof31st March2016

AJVbetweenIndoramaElemePetrochemicalsLtd.andTCIGlobal

OtherGroupCompanies

TDLundertakesdevelopmentofthecommercialpropertiesofTCI.ItalsodevelopslargescaleWarehouses,LogisticsParksetc

Specializedinofferingtimedefinitesolutionswithstrengthof2000+teamofprofessionaland13000+deliverypoints.

ListedEntity Rated and Certified

CorporateSocialResponsibility

Engagedinareasofeducation,women&childhealth,disabilityalleviationandruralsportsgrowth.

Non Discrimination Policy

• Regular conference calls and annual meet with shareholders and analysts• Timely and transparent disclosures through comprehensive annual reports and corporate presentations(readily available on the Company’s website)

CorporateGovernance

On-goingInvestorOutreachprograms

5

Awards&Recognition

6

Name DesignationMr.SMDatta Chairman(Non-executiveindependentdirector)

Mr.DPAgarwal ViceChairman&ManagingDirector

Mr.SNAgarwal Non-executivedirector

Mr.OSReddy Non-executiveindependentdirector

Mr.KSMehta Non-executiveindependentdirector

Mr.AshishBharatRam Non-executiveindependentdirector

Mr.VijayShanker Non-executiveindependentdirector

Mrs.Urmila Agarwal Non-executivedirector

Mr.MPSarawagi Non-executivedirector

Mr.Chander Agarwal Non-executivedirector

Mr.Vineet Agarwal ManagingDirector

BoardofDirectors

7

ImpactofMacro-economicchangesonLogistics

DFC/Diamond

Quadrilateral

• Creationofadditionaldedicatedrailfreightcapacity,• WillreduceunitcostofTransportationbyspeedingupfreighttrainoperations.• Increasedbulkmultimodalmovementforimprovedproductivity&efficiency• WillresultindevelopmentoflogisticWarehousesinthevicinityofFreightCorridor.

GST• RationalizingtheimpactoftaxesonProduction,DistributionandInventorymanagement• ConsolidationofwarehousesandmovingtowardsHub-and-spokemodel• MultimodalmovementbetweenHubs

• Withincreasedpercapitadisposableincome,consumptiondrivensectorswillgrow• SectorslikeFoodservices,e-commerce,consumabledurablesetc.willgetaboost.

E-commercedrivengrowthinconsumption

• Growthintrendtowardsoutsourcingoflogisticsinnontraditionalindustries• Largerscopeofoutsourcinge.g.orderprocessing,packaging,kittingetc.willgoup

Increasedoutsourcingof

Logistics

8

GST-KeyImplicationsonWarehouse&TransportIndustry

Transportation••LargerWarehousesandborderlessmovementofgoodswouldleadstoincreasedtransportationlotsizes,multimodalmovement

••Lesserborderchecks/paperworkwouldleadtofastermovementoftrucks.Transittimesandcostmayshrinkby20-30%

Warehouse••NetworktobedeterminedbasedontheambitofAdditionalTax.••Networkoptimizationeffortstocommence••Consolidationofwarehousingtocommence.••EmergenceofhubandSpokemodel••Largersizesofwarehouses(hubs)••Warehousesclosertomanufacturingand/orconsumptionareas.

GST

•Rationalizing the impact of taxes on Production, Distribution& Inventorymanagement•Consolidation of warehouses•Multi modal movement between Hubs

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10

ImpactonLogisticsDevelopmentSagarMala

DiamondQuadrilateral

The Diamond Quadrilateral is a project of the Indianrailways to establish high speed rail network in India. Thisquadrilateral will connect the four metro cities in India,i.e. Delhi, Mumbai, Kolkata and Chennai.This corridor will be operated on broad-gauge tracks andwill pass through 14 states and territories of India.

Sagar Mala envisages port led development of thecountry that would looks towards transforming theexisting Ports into modern world class Ports andintegrate the development of the Ports, the Industrialclusters and hinterland and efficient evacuation systemsthrough road, rail, inland and coastal waterwaysresulting in Ports becoming the drivers of economicactivity in coastal areas

The project aims to change the way logistics evacuationhappens in India, save logistics costs nationwide for cargohandled and evacuated through seaports, boost overalleconomic development through ports and empowercoastal communities

TCI:ServingtheCompleteEcommerceChain

Customers

Companies

Consolidationcenter

WarehousesDedicate&Shared

Suppliers

1.Marketplace

2.InventoryBased

1.AtSupplier

i SupplierCoordination

ii Scheduling

iii Routeoptimization

2.Inventory /Marketplace/CrossDock- FC

i Receipts andBarCoding

ii QualityCheckandPutaway

iii OrderprocessingonSLA

iv SortationandShip+CUBISCAN

v ReturnShipmentManagement

3.At Customerplace

i Doorstep delivery

ii FOD

iii Reverselogistics

~200,000units/day

~100,000Orders/day

~20,000Deliveries/day

11

GroupCompanies&Divisions

GroupCompanies&Divisions

• Provides Full truck load, Less than truck load, logistics solutions and projectmanagement for heavy and over-dimension cargo solutions parcel services with panIndia presence.

• Single window Key Account Management (KAM) solutions for managing informationflow and tracking.

• Started new service for SAARC region to provide door to door service.

• Provides inbound/outbound logistics and supply chain solutions from conceptualizationdesigning network to implementation

• Operates with a customized fleet of 1100 own trucks including 45 refrigerated trucks• Auto sector currently contributes to 75% of total revenue• High growth in managing Fulfillment centers and backend operations for e-commerce

• Provides coastal shipping services for transporting container and bulk cargo along theWestern & Eastern coast of India

• 04 domestic ships with capacity of 3500 – 10600 DWT, including Project Ships equippedwith own cranes (Total capacity of 23360 DWT)

SBU-wiseDetails

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IndustryScenario Mature,Fragmented,Lowbarrierstoentry,lowcost

Nascent,knowledgebased,veryhighbarriers,single

window

Growth,highentrybarriers,lowcost

IndustryGrowth 5-8% 15-20% 10-15%

%ofTotalRevenues

(FY16-17H1)

50%(437cr.)

41%(366cr.)

8%(70cr.)

TCIEBIDTAMargins 3-5% 10-12% 25-30%

Rev.GrowthCAGR5Yrs.

0.6% 9.7% 13.3%

ROCE(5-yrAverage) 8% 23% 19%

ROCE(10-yrAverage) 14% 23% 16%

IndustryDynamicsandSBUSnapshot

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Total Total

Revenue 437.4 365.7 69.9 9.03 882.0 1613.9

%Growth 6.5% 16.5% 11.6% -37.8%# 10% 4.1%

EBIDTA 16.6 39.2 22.5 7.19 85.5 147.9

%ofRevenue 3.8% 10.7% 32.2% 79.6% 9.7% 9.2%

EBIT 11.5 23.4 16.7 6.1 57.8 97.0

%ofRevenue 2.6% 6.4% 23.8% 67.9% 6.5% 6.0%

%Growth 45.3% 29.8% 43.2% -53.2%# 13.9% 11.3%

CapitalEmployed 215.9 261.9 162.1 316.43 956.2 888.0

ROCE% 11.1% 18.9% 20.9% 27.4% 12.5% 11.5%

Performance FY2016-17(H1):Stand-alone

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EnergyandCorp.

FiguresareinCrs

(2016-17-H1) (2015-16)

# DividendincomeincorrespondinghalfyearofFY16was7.9crs asagainst2.1cr incurrenthalfyear

DivisionalRevenueMix

15

43% 40% 38% 37% 37% 50%

27% 28% 30% 30% 29%

25% 27% 27% 28% 28% 41%

5% 5% 5% 5% 6% 8% 1% 1% 1% 1% 1% 1%

8.12% 7.68% 7.63% 8.27% 8.60%

9.69%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

0%

20%

40%

60%

80%

100%

FY12 FY13 FY14 FY15 FY16 FY17UPTOH1

Freight XPS SCS Seaways Others EBIDTAMargin

CapitalExpenditure inlast10years

16

HubCenters&Smallwarehouses 260.2 95.7 17.8 26.0

Windpower 9.0 0.0 0.0 0.0

Ships&Containers 151.5 4.3 3.0 66.0

Trucks&Cars 240.7 64.5 14.0 58.0

Others(Equip.,ITetc.) 77.1 3.9 0.7 35.0

Total 738.5 168.4 35.5 185.0

TermloanAdditions: 323.0 80.0 28.0 109.0

TotalActual(FY2006-07to

2014-15)

2015-16Actual

2016-17(H1)

2016-17Proposed

FiguresareinCrs

SourcesoffinancefortheCapexinFY2016-17

Rs.InCrores

FY2016-17 109 0 76 185

Debt Equity FreeCashFlows Total

IncomeStatementStandaloneResults

Particulars(RsinCr.) 2015-16 2015-16(H1)

2016-17(H1)

Freight 1415.66 696.81 782.26

OtherSales&Services 185.30 94.55 95.57

OtherIncome 12.90 10.50 4.19

TotalIncome 1613.87 801.86 882.01

Revenuegrowth% 4.11% 2.88% 10.00%

Operatingexpenses 1282.27 636.44 701.45

Otherexpenses 183.70 90.98 95.07

TotalExpenses 1465.97 727.42 796.52

EBITDA 147.90 74.43 85.50

EBITDAMargin% 9.16% 9.28% 9.69%

InterestExpense 22.96 11.43 14.28

Depreciation 50.85 23.72 27.75

ExceptionalItem 0.03 0.00 0.00

PBT 74.07 39.30 43.47

PBTMargin% 4.59% 4.67% 4.93%

Taxes 15.20 7.65 8.64

PAT 58.87 31.66 34.83

PATMargin% 3.65% 3.95% 3.95%

BalanceSheet

17

Particulars(RsinCr.) 2015-2016 2015-16(H1)

2016-17(H1)

1.ShareholdersFundsShareCapital 15.21 15.21 15.32Reserves&Surplus(Excl.Rev.res) 480.06 620.60 545.20Minority Interest 0.00 00.0 0.00

2.NonCurrentLiabilitiesLongtermBorrowings 95.76 75.02 89.54DeferredtaxLiabilities(net) 31.98 33.18 39.26Otherlongtermliabilities&Provisions 0.00 0.00 2.38

3.CurrentLiabilitiesShorttermborrowings 204.28 215.25 227.05Tradepayables 51.64 108.57 83.12Othercurrentliabilities 56.62 73.37 62.55Shorttermprovisions 48.72 51.12 49.98

TOTAL 984.27 1192.32 1114.401.NoncurrentAssets

FixedAssets 514.69 516.70 539.21Goodwill onconsolidation 0.00 0.00 0.00Exchange fluctuationonconsolidationNoncurrentInvestments 23.12 47.00 27.25Longtermloansandadvances 39.24 59.94 41.07Othernoncurrentassets 0.00 2.64 0.00

2.CurrentAssetsInventories 1.76 2.46 2.83TradeReceivables 312.99 443.70 382.08Cash&cashequivalents 12.38 21.72 19.46Shorttermloansandadvances 77.94 96.97 100.73Othercurrentassets 2.05 1.19 1.77

TOTAL 984.27 1192.32 1114.40

FiguresinCrs

Note :1 Figures are restated to extent of IND AS compliance except balance sheet of FY 15-16Note: 2 Figures are excluding XPS undertaking except balance sheet of H-1 FY 15-16

OwingtoTopratings AA- ,A1+fromCreditAgencies,goodfinancialdisciplineandhighcreditworthiness,TCI’saverageinterestcostisbelow10.00%

Debt– EquityRatio EarningsperShare(inRs)

FinancialPerformance

DebtServiceCoverageRatio# Times 1.92 2.20 3.03

ReturnonCapitalEmployed# % 11.6 11.5 12.5

UOM 2014-15 2015-16 2016-17(H1)

18

0.86 0.881.00

0.930.85

0.69

0.54 0.58 0.66

0

0.2

0.4

0.6

0.8

1

1.2

3.915.93

7.07 7.13 7.138.51

10.5011.20

9.10

#Re-statedafterExcludingXPSundertaking

CanwementioncreditratingsAA- etc

MarketSummaryMarketSummary(RsInCrore)MarketCapason30th September`16 1425.0

Debt 355.0

EnterpriseValue 1775.0

P/E 20.0

EV/EBITDA 20.8

52WeekHigh 388.0

52WeekLow 175.2

ConsistentDividendtracktrend

30%

40%45%

50% 50%

65%

75% 75%

18% 16% 15% 16% 16% 18% 18% 16%

-10%

5%

20%

35%

50%

65%

80%

FY09 FY10 FY11 FY12 FY 13 FY14 FY15 FY16

Dividend Ratio Dividend Payout Ratio

66%

17%

8%

3% 6%

ShareholdingPatternason30thSeptember2016

PROMOTORS

INDIANPUBLIC

FOREIGNHOLDINGS

BODYCORPORATE

MUTUALFUND

19

StockPerformance&DemergerSchemeInvestedin1000

equityshare@18/- in2001

ShareSplit5shareof2/- eachfor1shareof

10/- inDec’2006

DemergerofRealEstatedivisiontoTCI

DevelopersinMarch’2010

Investmentgiven40%ofCAGRreturnby

Sept’2016

InitialInvestmentOfRs 18,000

TotalNumberofShareincreasedto5,000

1shareinTCIDevelopersagainst5shareheldinTCI

DividendRs 65,325MarketValueofInvestmentRs.10,16,375

20

Swap

and

Excha

nge

RatioTheEquityshareholderofTCIwillreceive1

equityshareofRs.2/-eachofTCIExpressLtd.Forevery2equityshareofRs.2/- eachheldontherecorddateoftheCompany.

Allotm

enta

ndListing Allotmentandlisting

proceduralisexpectedtobecompletedin7to8weekstimeafterrecorddate.

Appo

intedan

dRe

cord

DateTheAppointeddateis

closingbusinesshoursof31st March2016.ShareTransfercommitteeoftheBoardhasfixed29th August2016asrecorddateforthepurposeofissueofequitysharesinTCIExpressLtdasperswapratio.

The High Court of Talengana & A.P has sanctioned the Scheme on 14th June 2016 involving demergerof “XPS division” into TCI Express Ltd , a subsidiary of TCIL.

GrowthDrivers

• Warehousing• ConsumptiondrivensectorlikeFMCG,Retail,Autoetc.• E-Commerce• DigitalTransformation

CostDrivers• Economiesofscale• Operationalefficiencykeytomaintaincostcontrol• Receivablesmanagement

MacroDrivers• Economicreforms,ImplementationofGSTandinfrastructure• Investment:Logisticssectortobeinhighertrajectory.• AmbitiousCapexandexpansionplansincurrentfiscal

FutureOutlook

21