Announcement
Announcement under Regulation 30 (LODR)-Scheme of Arrangement 1 Oct - NCLT Bengaluru sanctioned SPC International merger scheme; effective after ROC filings.
Source: Bse
TVS Supply Chain Solutions Limited (TVSSCS)
Micro CapServices stocks · Micro cap · NSE
TVS Supply Chain Solutions is a tech-driven, end-to-end integrated supply chain solutions (ISCS) and global forwarding solutions (GFS) provider. Operating across 26 countries with 25.1 Mn sq. ft. of managed warehouse space, it serves over 7,100 customers, including 100 Fortune Global 500 companies, with FY26 revenue of INR 11,003 Cr.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result21 Aug, 04:12 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Services P/E 17.7 (n=143)
Technical timing lens
Trend score and candlestick chart
47NeutralMACD −
Stock trend: 47
Sector RS: —
Services FPI tailwindFlow only
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Technical chart
TVSSCSD candles · FIT view+6.0%Latest close ₹121.22 on 2026-10-19
Bar
-1.2%
RSI
37
MACD hist
-0.80
52W pos
55%
2026-10-19O ₹122.72H ₹123.09L ₹120.73C ₹121.22Vol 2.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TVSSCSNifty 500
- TVSSCS
- -11.0%
- Nifty 500
- -5.6%
- Vs Nifty 500
- -5.4 pp
Chart stats
19 Oct 2026- From 52W high
- -17.3%
- 52W range position
- 55%
- ATR (14)
- 3.3%
- Volume vs 20D
- 0.40x
- Avg traded value
- ₹6 Cr
- 20D price channel
- ₹120.7 - ₹135.6
₹146.5
₹90.3 - ₹146.5
₹4
Latest completed session
20-session average
23.3% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST32
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +28.7% · PAT -69.0% YoY
Technical
Neutral47
Price trend and sector-relative-strength timing.
Valuation
Legacy model-212.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -69% YoY · margin compression · Rev +29% YoY · +10% QoQ
Filed 21 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,335 Cr | +28.7% | +10.0% |
| EBITDA | ₹225 Cr | +27.1% | +3.2% |
| Operating margin | 7.0% | +0 bps | +0 bps |
| PAT | ₹22 Cr | -69.0% | +22.2% |
| PAT margin | 0.7% | -208 bps | +7 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 78.60
- P/B
- 2.73
- EV/EBITDA
- 5.82
- Market Cap
- 5570.00Cr
Profitability
- ROE
- 9.70%
- ROCE
- 10.10%
- ROA
- 0.95%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 29.00%
- Revenue 3Y
- 3.00%
- EPS 3Y
- 71.00%
Balance Sheet
- Debt/Equity
- 1.53
- Interest Coverage
- 5.03×
- Altman Z
- 3.09
- Book Value
- 46.10
Cash Flow
- FCF Yield
- 9.28%
- FCF Positive Y
- 7/5
- OCF
- 746.00 Cr
- EPS TTM
- 1.46
Shareholding
- Promoter Hold
- 43.03%
- Promoter Pledge
- 31.90%
- Momentum 52W
- 64%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 11.0k+10.1% vs prev
Net Profit
₹ CrLatest: 117+1270.0% vs prev
Return on Equity
%Latest: 266+48447.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 37.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 37 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 17% off 52W high · 34% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
59
RS percentile
Stage 1 Base / Transition
1M return
-9.4%
3M return
-11.0%
6M return
+4.8%
1Y return
-4.3%
RS 1D
-1
RS 20D
-8
Sector rank
#12
Industry rank
#40
Stage evidence
- Price is within 2.1% of the 30-week proxy.
- The 30-week proxy changed +2.0% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 100.9-0.20%
RS vs Nifty 500101
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 32 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation1/30
Growth17/25
Quality3/20
Balance Sheet0/15
Cash Flow8/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
32
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
32/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 9.3%.
- Cash flow contributes 8/10 to the score.
- Growth contributes 17/25 to the score.
Main drags
- Promoter pledge is 31.9%.
- Fair-value margin of safety is negative at -212.7%.
- Balance sheet is weaker at 0/15; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
78.6
PB
2.7
EV/EBITDA
5.8
ROE
9.7%
ROCE
10.1%
FCF Yield
9.3%
Debt/Equity
1.5
MoS
-212.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
32
Previous: 32
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-212.7%
Previous: -212.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
32
32
32
32
32
32
32
32
32
32
32
32
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹38.92
-211.5% MoS
Growth-justified P/E
26.6
Growth-justified Value
₹38.76
-212.7% MoS
PEG
1.72
Comparable companies
Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MAHLOG
Small
Mahindra Logistics Limited
Logistics
match 84
20
102.0
0.3%
-9047%
OVERVALUED
NUCLEUS
Small
Nucleus Software Exports Limited
Logistics
match 65
36
14.7
13.1%
-86%
WATCHLIST
TOTAL
Small
Total Transport Systems Limited
Logistics
match 60
53
12.4
8.4%
+53%
FAIR VALUE
VRLLOG
Small
VRL Logistics Limited
Logistics
match 60
67
18.6
21.7%
+29%
UNDERVALUED
SBC
Small
SBC Exports Limited
Logistics
match 59
35
74.5
37.2%
-186%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-12T08:43:42.755Z
Management commentary snapshot
TVSSCS reported robust Q1 FY27 results with consolidated revenue up 28.7% YoY and 10% QoQ, driven by strong new business wins and core growth. Adj. EBITDA grew 34% YoY with margins expanding to 7.0% (+30 bps), and Adj. PBT surged 70.7% YoY to INR 32.1 Cr.
The company delivered strong Q1 FY27 performance, continuing Q4 momentum with double-digit growth in revenue, EBITDA, and PBT. Healthy new business wins and an expanding order pipeline support future growth. Margin expansion in both segments indicates effective cost management and operational excellence.
Current business mix
Q1 FY27 Revenue by Segment
Latest issuer-disclosed distribution across 2 reported categories.
ISCS72.0%
GFS28.0%
Growth engines
New Business Wins
Q1 FY27 saw INR 543 Cr in new business, providing strong momentum and contributing 20.9% of Q1 FY26 revenues.
India Business Growth
India segment grew 44% YoY, with ISCS up 30% and GFS up 84%, driven by new business.
Strategic Acquisitions
Acquisition of Swamy & Sons 3PL strengthened FMCG/FMCD presence and regional distribution.
High-Growth Sector Expansion
Strategic partnership with ALA group (Italy) for defense and aerospace logistics.
Capacity and execution
Swamy & Sons 3PL Acquisition
Acquired on May 22, 2026, and included in Q1 FY27 results, strengthening FMCG/FMCD sector presence.
Tailwinds
Strong Order Pipeline
A healthy and growing order pipeline of over INR 7,500 Crore provides future revenue visibility.
Margin Expansion
Consolidated Adj. EBITDA margins expanded by 30 bps YoY to 7.0% due to disciplined execution and cost optimization.
Improved Credit Rating
Credit rating outlook revised from "Ind AA Stable" to "Ind AA Positive", reflecting healthy trajectory.
Operational Transformation
Project One aims to create a more integrated, scalable, and cost-efficient operating model in Europe.
Headwinds
Geo-political Environment
Management continues to monitor the geo-political environment, which could impact GFS segment growth.
Risk radar
Geo-political Environment
Management is keeping a watch on the geo-political environment, which could impact GFS segment growth.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are relevant. YoY reflects overall business growth and annual trends, while QoQ highlights sequential momentum from new business wins and project execution, which are critical for a services company.
Sector KPIs management disclosed
Consolidated Revenue Growth
Grew by 28.7% YoY and 10% QoQ.
Consolidated Adj. EBITDA Growth
Increased by 34% YoY.
Consolidated Adj. EBITDA Margin
Expanded to 7.0% (+30 bps YoY).
New Business Wins (Q1 FY27)
Achieved INR 543 Crore.
Management forward view
FY27 Growth Outlook
Management is confident of achieving mid-teen growth in FY27, supported by a healthy order pipeline and proven conversion track record.
Sustained Profitable Growth
Q1 FY27 results reinforce the strong base created in FY26, providing impetus to sustain profitable growth.
ISCS India Outlook
Expects the strong growth trend in ISCS India to continue into FY27.
ISCS Europe Focus
FY27 focus for ISCS Europe is on expanding key customer relationships and driving operational efficiency.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| FY27 Revenue Growth | Q1 FY27 revenue grew 28.7% YoY. | Achievement of mid-teen growth for FY27. |
| Order Pipeline Conversion | Q1 FY27 new business wins of INR 543 Cr. | Continued conversion of the INR 7,500 Cr pipeline into revenue. |
| GFS Adj. EBITDA Margin | 4.1% in Q1 FY27. | Sustained margin improvement in GFS segment. |
| Geo-political Impact | Management is watching the geo-political environment. | Any material impact on GFS volumes or profitability. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 64th percentile within Services. Main check: promoter alignment is weak at 46/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
65 docs text-extracted · 24 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
56th percentile
overall median 67 · Services: 64th pctile, median 66 · Micro: 34th pctile, median 73
Evidence depth
Financial-only
65 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
46
watch · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
69
acceptable · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
61
acceptable · quarterly consistency
Trust positives
- ▸FCF yield is 9%.
- ▸7 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 2%.
Trust risks
- ▸Promoter pledge is elevated at 31.9%.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Debt/equity is 1.53.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching TVS Supply Chain Solutions Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Sep - Intimation of Analyst/Institutional Investor Meet to be held on 11th September, 2026
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 4 Jun - Board approved JV with A.L.A Corporation; up to ₹10.19 crore investment in TVS Packaging Solutions by September 30, 2026.
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 24 Aug - TVS SCS signed MoU with Sankyu Inc.; Sankyu intends 0.5% equity stake, subject to approvals.
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 11 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Scheme of Arrangement 11 Jul - NCLT Chennai sanctioned amalgamation of five transferor companies with TVS Supply Chain Solutions; Bengaluru approval pending.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 6 Jul - India Ratings affirmed TVS SCS at IND AA; outlook revised to Positive; CP rated IND A1+.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 30 Jun - Income tax order under Section 270A for AY 2017-18 imposes ₹0.84 crore penalty; company will appeal.
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI (LODR) Regulations 2015. 30 Jun - TVS SCS plans arbitration against Tera Software to recover ₹3.69 crore outstanding dues.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.