Details about sector and comparison with competitor TVS Logistic services : (Source : ICRA Credit report of TVS Logistics )
About Sector challenges:
Ability to manage and synergize the large geographically diversified businesses with presence across continents
Thin margins and moderate profitability metrics
High working capital intensity
About TVS Logistics services ltd :
TVSLSL is a third party logistics service provider (inbound/outbound logistics, warehousing and material handling and inventory management). The company which started as a division of TV Sundram Iyengar & Sons Limited (TVS & Sons, [ICRA]AA (Stable)/[ICRA]A1+) in 1996 was hived off in December-2004 as a 100% subsidiary. In March-08, private equity player G S Logistics (Goldman Sachs) acquired stake in TVSLSL, followed by a second round of PE funding in May-2012 when KKR (Kohlberg Kravis Roberts) acquired stake in the company. In September 2015, Tata Capital (through two investment arms) infused additional equity funds. The company provided exits to KKR and Goldman Sachs in YTD FY2017, and inducted Caisse De Depot Et Placement De Quebec (CDPQ). Currently, TVS & Sons and the individuals of the TVS family hold majority stake in the company while CDPQ, Tata Capital and TVSLSL’s employees are the other shareholders. Over the past four years, TVSLSL has expanded its domestic and global presence through several inorganic acquisitions, using borrowings and PE funds (infused into the company). The five largest of these acquisitions are  UK based logistics services provider TVS Supply Chain Solutions Limited in Q3FY2010,  Rico Logistics Limited in UK during Q2FY2013,  Wainwright (USA) in Q3FY2013  Drive India Enterprise Solution Limited, Q2FY2016 and  Transtar International Australia, Q2FY2016. Apart from these, the company has several other subsidiaries and joint ventures. Currently, India accounts for less than 30% of the company’s consolidated revenues.
From the above figure's it’s clear that TVSLSL is far bigger in size (probably the market leader in 3PL). But if you see the margin levels Tiger logistics is leading with superior margins both in operating level and PAT level. In standalone H1FY17 TVSLSL is in losses due to losses making Drive India Enterprise Solutions Limited (DIESL) acquired in FY16. They bought DIESL for 953cr, it has presence in consumer durable segment with 6.5 million sq.ft warehousing capacity.