Revenue and Profitability Trends
Total Transport’s net sales have shown a notable increase from ₹256.19 crores in the fiscal year ending March 2019 to ₹665.24 crores in March 2025. This growth reflects a strong recovery and expansion, particularly after a dip in fiscal 2021 when sales dropped to ₹314.89 crores amid broader market challenges. The company’s operating profit margin, excluding other income, has varied over the years, peaking at 5.23% in 2019 before moderating to 2.01% in 2025. Despite this contraction, the operating profit (PBDIT) improved from ₹7.15 crores in 2024 to ₹13.35 crores in 2025, signalling enhanced operational efficiency.
Profit after tax (PAT) has been volatile, with a loss recorded in 2021 at ₹-0.77 crores, but rebounding strongly to ₹8.66 crores in 2025. The PAT margin similarly recovered from a negative margin in 2021 to 1.32% in 2025. Earnings per share (EPS) followed this trend, rising from a negative ₹-0.6 in 2021 to ₹5.54 in 2025, indicating improved shareholder returns.
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Balance Sheet and Asset Management
The company’s shareholder funds have steadily increased from ₹46.01 crores in 2021 to ₹83.47 crores in 2025, supported by rising reserves which grew from ₹31.70 crores to ₹67.35 crores over the same period. Total liabilities have also increased but remain proportionate to asset growth, with total assets rising from ₹102.73 crores in 2021 to ₹166.53 crores in 2025. Notably, the book value per share has improved from ₹32.16 in 2021 to ₹51.76 in 2025, reflecting enhanced net asset value per share.
Long-term borrowings have decreased significantly from ₹4.31 crores in 2021 to ₹0.77 crores in 2025, indicating a reduction in long-term debt obligations. However, short-term borrowings have increased to ₹35.83 crores in 2025, up from ₹18.98 crores in 2021, suggesting a shift towards more current liabilities. The company’s net block of fixed assets has grown from ₹8.07 crores in 2021 to ₹15.90 crores in 2025, signalling ongoing investment in property, plant, and equipment.
Cash Flow and Liquidity Position
Cash flow from operating activities has been inconsistent, with a negative outflow of ₹1 crore in 2025 and 2024, contrasting with a positive ₹19 crores in 2023. Investing activities showed a positive inflow of ₹3 crores in 2025 after negative outflows in previous years, indicating a possible divestment or reduced capital expenditure. Financing activities have fluctuated, with a minor outflow of ₹1 crore in 2025 following a significant inflow of ₹12 crores in 2024. The closing cash and cash equivalents stood at ₹3 crores in 2025, down from ₹4 crores in 2024, reflecting a cautious liquidity stance.
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Summary of Historical Performance
Overall, Total Transport has experienced a period of recovery and growth following a challenging fiscal 2021. The company’s revenue has more than doubled since 2019, supported by improved operational profitability and a return to positive net earnings. The balance sheet has strengthened with increased reserves and shareholder funds, while debt levels have been managed prudently, particularly long-term borrowings. Cash flow patterns suggest a cautious approach to liquidity management, with recent years showing mixed results in operating cash generation.
Investors should note the volatility in profit margins and cash flows, which may reflect the cyclical nature of the transport sector and the company’s strategic investments. Nonetheless, the upward trend in earnings per share and book value per share indicates value creation over the medium term. The company’s financial metrics suggest a stabilising business with potential for further growth, contingent on market conditions and operational execution.
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