NSE: TOTAL
TOTAL TRANSPORT SYS LTD
Provides logistics services spanning multimodal freight forwarding, last-mile delivery and customs house activities. Multimodal transport, which includes LCL (less-than-container-load consolidation), FCL (full container), air freight and inland transport, is the largest line at ₹505.74 crore or 81.1% of segment revenue for the period ended 31-Mar-2026. Last-mile delivery, run through subsidiary Abhilaya, contributed ₹112.12 crore (18.0%) and CHA (customs house agent) activity added ₹5.46 crore (0.9%). The company moves cargo across a network spanning 89 countries, with FY26 LCL consolidation volumes of 236,240 CBM and air freight volumes of 1,436 tons. Cost structure is dominated by other operating expenses at 88.9% of revenue, with employees at 8.6% and depreciation at 0.6%, leaving an EBITDA margin of 2.98% for FY26. Q1 FY26 commentary flagged US tariff uncertainty weighing on LCL export demand and freight margins, while an Amazon warehouse contract added to Abhilaya's profitability. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Multimodal Transport Operations (81%), Last Mile Delivery Operations (18%), CHA Activity (1%). Asset-light, low-margin global logistics with exposure to freight rate cycles
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 583 | 590 | 488 | 665 | 622 |
| EBITDA (ex other income) | 16 | 15 | 7 | 13 | 15 |
| margin % | 2.8 | 2.5 | 1.5 | 2.0 | 2.4 |
| Owners' profit | 0 | 0 | 1 | 9 | 8 |
| EPS, as reported (₹) | 6.38 | 3.47 | 0.78 | 5.54 | 4.83 |
| ROE % · ROCE % | — · — | 6.8 · 15.4 | 1.6 · 8.6 | 10.6 · 14.3 | 8.7 · 14.6 |
| Debt / equity (x) | — | 0.21 | 0.44 | 0.44 | 0.42 |
| Cash from operations | 4 | 8 | (2) | (2) | 21 |
| Capex | (3) | (5) | (14) | (2) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 175 | 156 | 147 | 163 | 156 | 155 | 194 | 284 |
| Profit before tax | 4 | 4 | 4 | 3 | 3 | 0 | 6 | 9 |
| Net profit | 3 | 6 | 3 | 2 | 2 | 0 | 4 | 7 |
| EPS (₹) | 1.83 | 3.60 | 1.81 | 1.41 | 1.40 | 0.22 | 2.55 | 4.41 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Multimodal Transport Operations | 506 | 81.1 |
| Last Mile Delivery Operations | 112 | 18.0 |
| CHA Activity | 5 | 0.9 |
| Total, before eliminations | 623 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CONTAINER CORP OF IND LTD | 33,496 | 27.4 | 2.48 | 16.9 | 4.6 | 5.6 | 7.2 | 23.1 |
| DELHIVERY LIMITED | 32,070 | 173.3 | 3.27 | 49.7 | 0.7 | 0.7 | — | 6.7 |
| SHADOWFAX TECHNOLOGIES L | 17,051 | 74.3 | 9.03 | 79.2 | 7.1 | 6.1 | — | 6.7 |
| BLUE DART EXPRESS LTD | 10,714 | 37.3 | 6.03 | 11.2 | 13.9 | 13.4 | 13.3 | 15.8 |
| TRANSPORT CORPN OF INDIA | 6,630 | 14.4 | 2.34 | 13.1 | 7.9 | 6.6 | 11.9 | 10.4 |
| VRL LOGISTICS LIMITED | 5,909 | 14.7 | 4.46 | — | — | — | — | 22.1 |
| TVS SUPPLY CHAIN SOL L | 5,173 | 80.3 | 2.51 | 7.3 | 5.7 | 4.8 | — | 6.7 |
| MAHINDRA LOGISTIC LIMITED | 4,180 | 55.6 | 3.39 | 10.9 | 4.6 | 4.5 | 16.5 | 5.9 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.3 | 15.5 | 13 of 51 | 76% |
| P/B | 1.3 | 1.4 | 17 of 41 | 60% |
| ROCE | 12.2 | 5.6 | 9 of 50 | 84% |
| ROE | 11.3 | 5.0 | 8 of 40 | 82% |
| Debt / Equity | 0.6 | 0.3 | 31 of 41 | 25% |
| EBITDA margin | 3.7 | 6.7 | 45 of 56 | 20% |
| Revenue growth | 73.7 | 12.6 | 6 of 43 | 88% |
| Profit growth | 202.3 | 78.2 | 9 of 36 | 77% |
| Market cap | 128 | 126 | 28 of 56 | 51% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Q2 FY27 revenue rises 73.7%, profit triples and margin nears 4% | investor communications | medium | — | — |
| 6 Nov 2026 · Company publishes notice in newspaper | compliance | minimal | — | — |
| 5 Nov 2026 · Audio recording of Q2 and H1 FY27 earnings call provided | investor communications | low | — | — |
| 5 Nov 2026 · Q2 FY27 revenue rises 73.7% and profit after tax nearly triples | compliance | low | — | — |
| 5 Nov 2026 · Q2 FY27 revenue rises 73.7 percent and profit after tax triples | investor communications | medium | — | — |
| 4 Nov 2026 · Consolidated September 2026 quarter: revenue up 74%, profit after tax up 202% | results | high | — | — |
| 30 Oct 2026 · Q2 and H1 FY27 earnings call scheduled for November 5 | board shareholder meetings | low | — | — |
| 13 Oct 2026 · Routine RTA certificate on demat holdings for Sep 2026 quarter | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure for Q2/H1 FY26 results from Oct 1, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · AGM 2026: All 6 resolutions passed, dividend declared | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.