The present invention relates to stable pharmaceutical compositions of thiocolchicoside comprising nano size droplets of thiocolchicoside or salts thereof along with other pharmaceutically acceptable excipients. The present invention also relates to stable pharmaceutical compositions of thiocolchicoside comprising nano size droplets of thiocolchicoside or salts thereof, optionally one or more non-steroidal anti-inflammatory agents, along with other pharmaceutically acceptable excipients. These compositions exhibit greater permeability, and improved bioavailability leading to enhanced therapeutic activity. The invention also relates to processes for the preparation of such compositions.