The single financial pane of truth — P&L, quality of earnings, profitability, FP&A and division economics.
Margin is thin by design — a sōgō-shōsha trading house earns on volume and working-capital velocity, not fat gross margin. Still ≈ ₹18 Cr of EBITDA sits between today's 2.4% margin and the 2.8% target; revenue dipped ~5% in FY25 yet PAT hit a record ₹78 Cr, so lift mix quality (recycling, new energy, value-added supply) and operating leverage to compound that.
6 of 8 headline metrics improving vs prior · still off target: Total Revenue ₹4,529 Cr vs ₹4,800 Cr, Revenue Growth (YoY) -5.3% vs 4.0%, Trading Margin 4.8% vs 5.4%
Pass-through pricing & hedging; shift mix to value-added supply, recycling & higher-margin lines.
Metals is ~40% of revenue at ~2.0% EBITDA; a commodity-price swing compresses an already-thin spread.
≈ ₹18 Cr of EBITDA stands between 2.4% margin and the 2.8% target — earned on mix quality and working-capital velocity, not fat gross margin (TTIPL is a private, wholly-owned trading house — no listed equity to re-rate).
Tighten debtor days, accelerate collections & optimise inventory to free working capital.
Total assets ₹2,060 Cr on ₹4,529 Cr sales; debtor days 52 + inventory funding tie up working capital.
Unbanked EBITDA & capex-ROI until captured.
How ₹4,529 Cr of revenue converts to ₹109 Cr adjusted EBITDA.
| Revenue | ₹4,529 Cr | 100.0% |
| Cost of traded goods | (₹4,312 Cr) | (95.2%) |
| Trading gross | ₹217 Cr | 4.8% |
| Operating expenses | (₹109 Cr) | (2.4%) |
| Adjusted EBITDA | ₹109 Cr | 2.4% |
The honest trading-house walk: thin spread on traded goods, profit on volume + working-capital velocity → record PAT ₹78 Cr.
Revenue down ~5%, profit up: trading margin / mix quality, working-capital & cost efficiency and new-energy / recycling outweigh the auto-demand softness.
Forecast discipline, cost & sustainability savings, and productivity.
Recurring-supply scale, EBITDA uplift and integration capture by capability as each group entity matured.
| Capability | Since | Revenue | Recurring | EBITDA ₹Cr | Integration | Status |
|---|---|---|---|---|---|---|
| Chemicals & Electronics (NEXTY) | 2008 | ₹470 Cr | ₹300 Cr | 2→20 | 84% | Integrated |
| Rare Earths (TREI) | 2009 | ₹210 Cr | ₹120 Cr | 5→46 | 66% | In progress |
| Auto Parts & JIT Logistics | 2010 | ₹1,360 Cr | ₹950 Cr | 3→35 | 90% | Integrated |
| Steel Service Centre (TTSS) | 2015 | ₹1,180 Cr | ₹900 Cr | 3→36 | 86% | Integrated |
| Circular Economy & Recycling | 2015 | ₹320 Cr | ₹210 Cr | 4→40 | 62% | In progress |
| Airbags & Safety (TASI) | 2016 | ₹260 Cr | ₹200 Cr | 6→26 | 80% | In progress |
| Green Energy (CleanMax Toyotsu) | 2025 | ₹60 Cr | ₹40 Cr | 18→12 | 30% | In progress |
One click into the owning view — each reads the same live governed dataset.