Total Transport Systems Limited has informed the Exchange regarding Change in Auditors of the company.
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Total Transport Systems Limited announced a change in statutory auditors at its board meeting on August 6, 2025. S R B C & Co LLP resigned as statutory auditor with immediate effect, citing a fee dispute — the company offered Rs. 30 lakhs for the upcoming year's audit (including limited review) versus their existing fees of Rs. 60 lakhs, which S R B C found commercially unviable. S R B C had been appointed in September 2023 for a 5-year term, making this a mid-term exit. The board has recommended appointing M. P. Chitale & Co (a 1956-established firm with 15 partners specializing in financial services) as the new statutory auditor for a 5-year term, subject to shareholder approval at the AGM on September 1, 2025. The company also reported Q1 FY26 consolidated revenue of Rs. 14,744.19 lakhs (up slightly from Rs. 14,600.20 lakhs YoY) and net profit of Rs. 293.71 lakhs (up significantly from Rs. 23.42 lakhs YoY). Standalone revenue was Rs. 12,032.91 lakhs with net profit of Rs. 274.90 lakhs. Basic EPS stood at Rs. 1.81 (consolidated) and Rs. 1.70 (standalone).
The auditor change is a routine mid-term rotation driven purely by a fee disagreement, with no governance concerns flagged. A reputed replacement (M. P. Chitale & Co) has been lined up, so disruption risk is low. Q1 FY26 earnings show a strong YoY recovery in profitability, which is a positive signal for shareholders. The trading window remains closed until 48 hours after FY25 audited results are declared.