Financial Performance Summary

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue: ₹283.9 crore, up 73.7% YoY (from ₹163.5 crore)
  • EBITDA: ₹10.4 crore, up 2.2x YoY (from ₹4.8 crore)
  • EBITDA Margins: 3.7%, improved 74 bps YoY (from 2.9%)
  • EBIT: ₹10.4 crore, up 2.6x YoY (from ₹4.0 crore)
  • EBIT Margins: 3.6%, improved 118 bps YoY (from 2.5%)
  • PAT: ₹7.1 crore, up 3.0x YoY (from ₹2.4 crore)
  • PAT Margins: 2.5%, improved 107 bps YoY (from 1.4%)
  • EPS: ₹4.41, up 3.1x YoY (from ₹1.41)

Quarterly Sequential Performance (Q2 FY27 vs Q1 FY27):

  • Revenue: ₹283.9 crore, up 46.7% QoQ (from ₹193.6 crore)
  • EBITDA: ₹10.4 crore, up 61.9% QoQ (from ₹6.5 crore)
  • EBITDA Margins: 3.7%, improved 35 bps QoQ (from 3.3%)
  • EBIT: ₹10.4 crore, up 57.0% QoQ (from ₹6.6 crore)
  • EBIT Margins: 3.6%, improved 24 bps QoQ (from 3.4%)
  • PAT: ₹7.1 crore, up 72.6% QoQ (from ₹4.1 crore)
  • PAT Margins: 2.5%, improved 38 bps QoQ (from 2.1%)
  • EPS: ₹4.41, up 1.7x QoQ (from ₹2.55)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue: ₹477.5 crore, up 53.6% YoY (from ₹310.9 crore)
  • EBITDA: ₹16.9 crore, up 84.5% YoY (from ₹9.2 crore)
  • EBITDA Margins: 3.5%, improved 59 bps YoY (from 2.9%)
  • EBIT: ₹17.0 crore, up 89.1% YoY (from ₹9.0 crore)
  • EBIT Margins: 3.6%, improved 67 bps YoY (from 2.9%)
  • PAT: ₹11.2 crore, up 2.1x YoY (from ₹5.3 crore)
  • PAT Margins: 2.4%, improved 65 bps YoY (from 1.7%)
  • EPS: ₹6.96, up 2.2x YoY (from ₹3.22)

Full Year Comparison (H1 FY27 vs FY26):

  • H1 FY27 Revenue (₹477.5 crore) represents 76.8% of FY26 full year revenue (₹621.6 crore)
  • H1 FY27 EBITDA (₹16.9 crore) represents 113.4% of FY26 full year EBITDA (₹14.9 crore)
  • H1 FY27 PAT (₹11.2 crore) represents 141.8% of FY26 full year PAT (₹7.9 crore)

Business Volume Overview and Performance Drivers

Growth in topline was supported by:

  • Addition of new clients
  • Expansion of last-mile delivery segment
  • Increased business volumes in air cargo
  • Diversified service portfolio
  • Asset-light business model

Management Commentary

Mr. Makarand Pradhan, Promoter and MD:

  • Company continued growth momentum in second quarter
  • H1 FY27 revenue increased 53.6% YoY to ₹478 crore
  • Focused on expanding presence across more cities
  • Strengthening last-mile delivery operations
  • Adding dedicated teams to scale up air cargo business
  • Initiatives expected to support further growth in topline and bottom line
  • Enhancing service capabilities and operational efficiency
  • Committed to executing growth plans with discipline
  • Creating sustainable long-term value for shareholders

Mr. Shrikant Nibandhe Pradhan, Promoter and CFO:

  • EBITDA margin improved to 3.7% in Q2 FY27 from 2.9% in Q2 FY26
  • EBITDA margin improved to 3.5% in H1 FY27 from 2.9% in H1 FY26, indicating improvement in operating leverage
  • Investments in employee capabilities and new software systems translating into better operational coordination and management
  • Working on incorporating AI into processes to streamline operations
  • Benefits of AI integration expected to become visible over coming quarters
  • Priorities: cost control, process improvements, prudent working capital management
  • Focus on strengthening operational performance and financial efficiency

Company Overview

Total Transport Systems Limited (TTSL) is an NSE-listed international logistics company established in 1994 offering:

  • Integrated freight forwarding and supply chain solutions
  • Sea freight services
  • Air freight services
  • Multimodal transportation
  • Customs clearance
  • Warehousing
  • Last-mile delivery
  • Value-added logistics services

Global Network through iCargo Alliance:

  • World's fifth-largest consolidators' network
  • Global network spanning 89+ countries
  • 1,100+ locations
  • 166+ offices
  • Over 180 agents

Industry Memberships:

  • IATA
  • FIATA
  • FFFAI
  • CAI
  • BOCB
  • AMTOI

Business Model: Asset-light business model combining global connectivity with local execution