TransIndia Real Estate Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

TransIndia Real Estate Ltd trades at ₹24.4, in a downtrend and 92 weeks into that stage. That is −10.5% against its own 200-day average. It sits at 12% of a 52-week range of ₹23 to ₹33. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (4 weeks and counting).

Today the stock is in a downtrend — week 92 of stage 4, confirmed. At ₹24.4 it trades −10.5% versus its 200-day average and sits at 12% of its 52-week range (₹23–₹33).

Against the market, two honest reads. Cumulative: over the last 2.9 years the stock moved −29% while the NIFTY 500 moved +38% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (4 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 1st percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

TransIndia Real Estate Ltd trades at 16.1× P/E, about the cheapest it has ever traded. Its long-run median P/E is 24.9×, measured across 2.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 16.1× is about the cheapest it has ever traded, against a long-run median of 24.9× measured over 2.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved −29.9% against a −31.4% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

TransIndia Real Estate Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 4.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

46.0/100 — rank 11 of 18 in Logistics · 83% evidence confidence

TransIndia Real Estate Ltd scores 46.0 out of 100 against the 18 companies it is compared with in Logistics, ranking 11. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 17.6 + 13.3 + 14 + 1.1 = 46. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

TransIndia Real Estate Ltd reported ₹21.6 Cr of revenue in the Mar 26 quarter, +7.8% year on year. The last full year, FY26, came in at ₹84.0 Cr. The last four reported quarters add to ₹83.7 Cr. A multi-year compound rate is not shown because the annual history behind it is too short to compute one honestly.

TransIndia Real Estate Ltd reported ₹21.6 Cr of revenue in the Mar 26 quarter, +7.8% year on year. The last full year, FY26, came in at ₹84.0 Cr. The last four reported quarters add to ₹83.7 Cr. A multi-year compound rate is not shown because the annual history behind it is too short to compute one honestly.

FY26 revenue came in at ₹84.0 Cr (+1.2% on the year). The latest quarter (Mar 26) printed ₹21.6 Cr, +7.8% year on year.

Acceleration check: trailing-twelve-month revenue grew +2.4% over the last 4 quarters against −7.0%/yr over the last 8 — accelerating; TTM profit −29.8% vs −61.6%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 58.3% this quarter (+41.2 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

TransIndia Real Estate Ltd's operating margin is 58.3% in the Mar 26 quarter, +41.2 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 44.0% to 56.0%. The current quarter is running above every full year in that window.

TransIndia Real Estate Ltd's operating margin is 58.3% in the Mar 26 quarter, +41.2 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 44.0% to 56.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 58.3%, +41.2 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 44.0%–56.0%.

Why the margin moved: operating margin went +41.2 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins held — did that reach the bottom line? Next: profit −69.7% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

TransIndia Real Estate Ltd earned ₹9.9 Cr of net profit in the Mar 26 quarter, −69.7% year on year. Full-year FY26 profit was ₹37.0 Cr. That is 45.7% of the quarter's revenue. The same quarter a year earlier earned ₹32.5 Cr.

TransIndia Real Estate Ltd earned ₹9.9 Cr of net profit in the Mar 26 quarter, −69.7% year on year. Full-year FY26 profit was ₹37.0 Cr. That is 45.7% of the quarter's revenue. The same quarter a year earlier earned ₹32.5 Cr.

Mar 26 profit was ₹9.9 Cr, −69.7% year on year. On the full year, FY26 printed ₹37.0 Cr (−30.2%).

🚨 Why profit moved: revenue contributed +7.8% and the margin +41.2 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +11.2% vs revenue +3.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 60% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 60% of TransIndia Real Estate Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹43.0 Cr of operating cash against ₹37.0 Cr of profit. After ₹64.0 Cr of capital spending, ₹−21.0 Cr was left as free cash.

FY26: operating cash of ₹43.0 Cr against reported profit of ₹37.0 Cr, leaving free cash of ₹−21.0 Cr after ₹64.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 60% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at 60%: the cash cycle tightened 40 days between FY23 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 8.6× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹428 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

TransIndia Real Estate Ltd's cash conversion cycle runs 14 days in FY26, down from 54 days in FY23. Capital spending ran ₹428 Cr over the last 3 years. At FY26 sales of ₹84.0 Cr each day of that cycle holds about ₹0.2 Cr, so roughly ₹3.0 Cr sits inside the business at any moment.

FY26: debtors at 14 days (an asset-light business — no inventory to speak of) — for a full cycle of 14 days, tighter than FY23's 54.

In money terms: at FY26 sales of ₹84.0 Cr, each day of the cycle holds about ₹0.2 Cr — so the 14-day loop keeps roughly ₹3.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹428 Cr over the last 3 fiscal years against ₹50.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 4% and the ROIC − WACC spread is −10.2 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

TransIndia Real Estate Ltd earns a ROCE of 4% in FY26. That is up from a trough of 2% in FY25. Return on invested capital clears the cost of that capital by −10.2 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 44.0% net margin on 0.06× asset turns.

FY26 ROCE is 4%, recovered from a FY25 trough of 2% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 44.0% net margin × 0.06× asset turns × 1.07× balance-sheet leverage ≈ 2.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 1.8% − 12.0% = a −10.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

TransIndia Real Estate Ltd carries ₹0.0 Cr of borrowings against ₹1,279 Cr of equity in FY26, a debt-to-equity of 0.00. Operating profit covers the interest bill 23×. Over 4 years borrowings went from ₹0.0 Cr to ₹0.0 Cr. Capital spending ran ₹428 Cr across the last 3 of those years.

FY26: borrowings of ₹0.0 Cr against equity of ₹1,279 Cr — a debt-to-equity of 0.00. Operating profit covers the interest bill 23×. Over 4 years borrowings went from ₹0.0 Cr to ₹0.0 Cr while capital spending ran ₹428 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

→ Who owns this, and are they adding or leaving? Next: Promoters added 2.2 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters added 2.2 points of TransIndia Real Estate Ltd over 8 quarters, the biggest move on the register. That takes promoters to 71.4% of the company. Foreign institutions moved −1.4 points over the same window, to 5.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +2.2 points over 8 quarters to 71.4%; Foreign institutions: −1.4 points over 8 quarters to 5.8%; Domestic institutions: +0.1 points over 8 quarters to 1.3%.

Why the register moved: promoters drove it (+2.2 points), absorbed on the other side by foreign institutions (−1.4 points) — steady accumulation by institutions reading the same numbers this page reads.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

TransIndia Real Estate Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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