5 Logistics Stocks to Watch as Highway Toll Charges May Rise Up to 6.4% From April 2027

Driving on India’s highways is about to get pricier. Not because more people are using them, but because of a formula buried inside highway contracts that ties toll hikes to wholesale inflation. And that formula is about to work against everyone’s wallet.

Toll Prices Set to Jump From April 2027

Highway tolls in India are about to rise sharply, and it’s not because more vehicles are hitting the road. From April 2027, newer highway projects could see toll rates go up by 6.2 to 6.4 per cent, nearly double this year’s hike of 3.4 to 4 per cent. Older highways aren’t far behind either, with expected increases of 4.5 to 5.5 per cent.

What’s strange is that traffic growth is actually slowing down, expected to ease to 4-5 per cent in FY28 from 6 per cent in FY26. Yet toll collections are set to grow faster, jumping to 10-12 per cent from 7-9 per cent this year. So fewer new vehicles are joining the highways, but the ones already using them will end up paying a lot more.

The reason behind this comes down to inflation. Toll hikes are linked to the Wholesale Price Index, and rising WPI numbers this year are expected to flow directly into next year’s toll formula, pushing charges higher across the board.

VRL Logistics runs one of India’s biggest surface transportation fleets, moving goods across several states through its own network of trucks and branches. Since so much of its business depends on road freight, rising toll costs directly add to its daily running expenses. 

The company has built its reputation on wide reach and quick turnaround times, especially in smaller towns where other logistics players have limited presence. With toll charges climbing, VRL’s ability to manage fuel and toll costs efficiently, while keeping freight rates competitive, will matter a lot for its margins going into FY28.

Bluedart

Bluedart is best known for express delivery and courier services, but a large part of its last-mile and regional delivery network runs on road transport. That makes it exposed to toll cost increases too, even though its brand is built around speed and reliability rather than heavy freight movement. 

As e-commerce and time-sensitive deliveries keep growing, Bluedart’s dependence on road vehicles for quick deliveries means rising toll charges could add up over thousands of daily trips. How well it absorbs or passes on these costs will be worth watching closely.

Transport Corporation of India (TCI)

TCI operates across multiple logistics verticals, including road freight, and has built long-term relationships with large industrial and corporate clients over the years. This gives it some room to negotiate better terms and pass on rising costs like toll charges through freight contracts. 

Unlike smaller players, TCI’s diversified business model, spanning supply chain, seaways and road transport, could help cushion the impact of one segment facing higher costs. Still, with road freight forming a core part of its operations, the toll hike remains a factor management will need to plan around carefully.

Mahindra Logistics

Mahindra Logistics provides integrated supply chain solutions to a wide range of industries, and road transportation forms a major part of how it moves goods for clients. Because of this heavy reliance on surface transport, rising toll charges translate into higher operating costs almost immediately. 

The company works closely with large enterprise clients, which may give it some ability to negotiate cost pass-throughs into service contracts. But with margins in logistics already thin, any unplanned cost increase like this one tends to draw close attention from investors tracking the stock.

Delhivery

Delhivery has built a large network to support e-commerce and enterprise logistics, and much of its delivery infrastructure runs through road transport across the country. As a newer-age logistics company, it handles a high volume of daily shipments, which means toll costs form a steady, recurring expense. 

With competition in the logistics space already intense, absorbing higher toll charges without affecting delivery pricing could be tricky. How Delhivery manages this cost pressure while continuing to scale its operations will be something to track through FY28.