Total Transport Systems Limited (TOTAL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+120.2%

₹165.32

vs ₹75.07 price

Levered DCF

₹37.85

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	9.88×	12.71×	128.53×	35.66×	11.02×	-72.42×	13.01×	6.52×
P/B	0.85×	1.36×	2.11×	2.5×	1.87×	1.35×	0.58×	1.03×
P/S	0.12×	0.17×	0.33×	0.32×	0.17×	0.2×	0.07×	0.18×
EV / EBITDA	4.55×	8.54×	15.76×	12.8×	7.19×	25.25×	6.83×	4.61×
Gross margin	6.1%	5.7%	5.2%	5.3%	94.2%	4.2%	94.1%	8.8%
Operating margin	1.8%	1.5%	1.3%	2.4%	2.8%	0.8%	1.5%	4.8%
Net margin	1.3%	1.3%	0.3%	0.9%	1.6%	-0.3%	0.5%	2.8%
Current ratio	1.55×	1.6×	1.64×	2.5×	1.69×	1.83×	1.47×	2.09×
Debt / equity	0.44×	0.47×	0.44×	0.22×	0.49×	0.51×	0.46×	0.4×
Interest coverage	2.79×	2.49×	1.62×	4.71×	7.67×	1.03×	2.78×	7.24×
Dividend yield	0.0%	0.7%	0.0%	0.6%	1.1%	0.0%	0.0%	0.0%
Payout ratio	0.0%	9.0%	0.0%	23.1%	11.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.6%	10.7%	1.6%	7.0%	16.9%	-1.9%	4.4%	15.8%
Return on invested capital	5.8%	6.8%	2.2%	7.8%	13.1%	3.2%	4.6%	12.5%
Return on assets	4.1%	5.2%	0.8%	4.3%	7.0%	-0.8%	1.6%	8.7%
Free cash flow yield	19.1%	-5.0%	-9.6%	7.8%	1.1%	5.8%	-10.1%	-1.4%
Earnings yield	10.1%	7.9%	0.8%	2.8%	9.1%	-1.4%	7.7%	15.3%
Enterprise value	₹849.6M	₹1.5B	₹1.7B	₹1.9B	₹1.2B	₹819.4M	₹486.7M	₹622.6M
Net debt / EBITDA	0.43×	2.04×	1.04×	0.37×	1.2×	6.1×	3.01×	1.14×
Cash conversion cycle (days)	32	36	44	-12	-1,393	65	-674	-22