Indian Railway Catering And Tourism Corporation Ltd.

•

irctc.comBSE: 542830NSE: IRCTC

Market Cap₹ 37,032 Cr.

Current Price

High / Low₹ 739 / 462

Stock P/E26.6

Book Value₹ 58

Price to Book9.18

Dividend Yield1.94 %

ROCE47.5 %

ROE35.0 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Catering: 46.0% • Internet Ticketing: 29.4% • Tourism & Train Operations: 17.1%

AI Sector View

AI GENERATED

Consumer Services

Buy

Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.

Confidence

73%

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PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 50.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 37.3%
Company has been maintaining a healthy dividend payout of 51.7%
Stock looks reasonably valued - P/E of 26.6 is below its historical median
Company generates healthy free cash flow

CONS

Stock is trading at 9.2x its book value
Recurring exceptional / one-off items are inflating headline profit
Operating margins have contracted to 31.9% from 36.0%
Expensive relative to growth - PEG of 2.3

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesHospitalityTravel Services

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTY TOTAL MKT

S.No.	Name
1.	IRCTC	462.90	26.59	37032.00	1.94	330.16	-0.16	1369.53	18.10	47.50	28.23
2.	TBOTEK	1678.50	68.86	18226.46	0.00	83.36	32.38	925.78	81.07	19.59	14.91
3.	CORDELIA	112.75	156.54	8162.48	0.00	227.73	—	1901.12	—	74.77	23.68
4.	IXIGO	158.85	81.90	7006.64	0.00	34.24	80.75	356.75	13.44	6.67	5.72
5.	THOMASCOOK	108.65	23.37	5110.68	0.46	63.71	-13.39	2091.89	-13.13	21.13	4.46
6.	EASEMYTRIP	5.83	0.00	2323.05	0.00	-11.69	-363.84	134.71	18.38	21.68	-9.98
7.	YATRA	115.40	58.13	1810.81	0.00	0.34	-97.88	187.90	-10.45	7.03	6.61
8.	DREAMFOLKS	66.23	0.00	352.81	0.00	-13.83	-165.03	39.01	-88.82	6.00	-53.24
9.	INTLTRAVHS	283.40	13.14	226.56	1.94	5.64	-17.93	55.27	-3.06	15.00	14.06
10.	TRANSCOR	25.45	8.53	81.47	2.36	2.18	113.84	284.99	24.31	15.40	0.68

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,002	992	1,115	1,152	1,118	1,064	1,225	1,269	1,160	1,146	1,449	1,460	1,370
	659	626	722	789	743	691	808	883	762	742	984	1,061	1,000
Operating Profit	343	367	394	362	375	373	417	385	397	404	465	399	370
OPM %	34.24%	36.94%	35.32%	31.47%	33.55%	35.04%	34.02%	30.39%	34.26%	35.27%	32.11%	27.33%	27.01%
	-13	47	31	41	54	60	57	107	61	69	81	67	72
Interest	4	4	5	5	3	3	3	8	4	4	5	5	4
Depreciation	14	14	14	16	14	13	13	12	12	11	12	14	12
Profit before Tax	312	395	406	382	412	417	457	472	442	457	529	447	442
Tax %	25.68%	25.44%	26.17%	25.61%	25.28%	26.10%	25.29%	24.15%	25.20%	25.19%	25.49%	26.93%	25.25%
Net Profit	0	0	0	0	308	308	341	358	331	342	394	326	330
	2.90	3.68	3.75	3.55	3.85	3.85	4.26	4.48	4.13	4.28	4.93	4.08	4.13

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,541	4,260	4,675	5,215	5,425
	2,265	2,794	3,125	3,549	3,786
Operating Profit	1,276	1,466	1,550	1,666	1,639
OPM %	36.04%	34.41%	33.15%	31.94%	30.20%
	148	106	277	277	288
Interest	16	19	17	18	18
Depreciation	54	57	53	50	50
Profit before Tax	1,354	1,496	1,757	1,875	1,875
Tax %	25.71%	25.73%	25.17%	25.69%	25.70%
Net Profit	1,006	1,111	1,315	1,393	1,393
EPS	12.57	13.89	16.44	17.42	—
Dividend Payout %	43.74%	46.80%	48.67%	51.67%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 11%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -7%
3 Years:: -12%
1 Year:: -36%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 37%
Last Year:: 35%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	160	160	160	160
	2,318	3,070	3,503	4,149
	114	114	205	183
Trade Payables	852	998	1,034	930
	1,887	2,002	2,158	2,410
Total Liabilities	5,331	6,343	7,060	7,831
	324	317	788	786
Capital Work in Progress	34	443	27	42
	10	11	11	14
	1,143	1,374	1,734	1,882
Cash & Bank	1,931	2,278	2,162	2,868
	1,890	1,921	2,339	2,240
Total Assets	5,331	6,343	7,060	7,831

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	812	882	833	1,273
Cash from Investing	-317	-200	-258	-446
Cash from Financing	-434	-404	-910	-787
	61	277	-334	40

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	62.40	62.40	62.40	62.40	62.40	62.40	62.40	62.40	62.40
	7.78	7.54	7.45	7.37	7.28	7.27	7.19	4.86	3.91
	13.74	13.92	13.73	13.89	14.16	14.18	14.02	14.86	14.86
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	16.06	16.14	16.43	16.35	16.17	16.15	16.40	17.89	18.84

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Change in Auditors

2026-09-09 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about Copy of Newspaper Publication.

2026-09-07

Shareholders meeting

2026-09-07 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026

2026-09-06

Copy of Newspaper Publication

2026-09-06 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-05

General Updates

2026-09-05 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about Communication regarding Tax Deducted at Source ( TDS ) on Final Dividend for the Financial Year ended on March 31, 2026.

2026-09-05

Record Date

2026-09-05 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange that Record date for the purpose of Dividend is 22-Sep-2026.

2026-09-05

General Updates

2026-09-05 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about Intimation of 27th Annual General Meeting of the members of the Company, E-voting , and Record Date .

2026-08-31

Change in Management

2026-08-31 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about change in Management

2026-08-26

General Updates

2026-08-26 - Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about General Updates

News

Recent coverage and analyst commentary for IRCTC

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Indian Railway Catering And Tourism Corporation Ltd.

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Name

IRCTC

462.90

26.59

37032.00

1.94

330.16

-0.16

1369.53

18.10

47.50

28.23

TBOTEK

1678.50

68.86

18226.46

0.00

83.36

32.38

925.78

81.07

19.59

14.91

CORDELIA

112.75

156.54

8162.48

0.00

227.73

—

1901.12

—

74.77

23.68

IXIGO

158.85

81.90

7006.64

0.00

34.24

80.75

356.75

13.44

6.67

5.72

THOMASCOOK

108.65

23.37

5110.68

0.46

63.71

-13.39

2091.89

-13.13

21.13

4.46

EASEMYTRIP

5.83

0.00

2323.05

0.00

-11.69

-363.84

134.71

18.38

21.68

-9.98

YATRA

115.40

58.13

1810.81

0.00

0.34

-97.88

187.90

-10.45

7.03

6.61

DREAMFOLKS

66.23

0.00

352.81

0.00

-13.83

-165.03

39.01

-88.82

6.00

-53.24

INTLTRAVHS

283.40

13.14

226.56

1.94

5.64

-17.93

55.27

-3.06

15.00

14.06

TRANSCOR

25.45

8.53

81.47

2.36

2.18

113.84

284.99

24.31

15.40

0.68

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,002

992

1,115

1,152

1,118

1,064

1,225

1,269

1,160

1,146

1,449

1,460

1,370

659

626

722

789

743

691

808

883

762

742

984

1,061

1,000

Operating Profit

343

367

394

362

375

373

417

385

397

404

465

399

370

OPM %

34.24%

36.94%

35.32%

31.47%

33.55%

35.04%

34.02%

30.39%

34.26%

35.27%

32.11%

27.33%

27.01%

-13

107

Interest

Depreciation

Profit before Tax

312

395

406

382

412

417

457

472

442

457

529

447

442

Tax %

25.68%

25.44%

26.17%

25.61%

25.28%

26.10%

25.29%

24.15%

25.20%

25.19%

25.49%

26.93%

25.25%

Net Profit

308

341

358

331

342

394

326

330

2.90

3.68

3.75

3.55

3.85

4.26

4.48

4.13

4.28

4.93

4.08

4.13

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

3,541

4,260

4,675

5,215

5,425

2,265

2,794

3,125

3,549

3,786

Operating Profit

1,276

1,466

1,550

1,666

1,639

OPM %

36.04%

34.41%

33.15%

31.94%

30.20%

148

106

277

288

Interest

Depreciation

Profit before Tax

1,354

1,496

1,757

1,875

Tax %

25.71%

25.73%

25.17%

25.69%

25.70%

Net Profit

1,006

1,111

1,315

1,393

EPS

12.57

13.89

16.44

17.42

—

Dividend Payout %

43.74%

46.80%

48.67%

51.67%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

160

2,318

3,070

3,503

4,149

114

205

183

Trade Payables

852

998

1,034

930

1,887

2,002

2,158

2,410

Total Liabilities

5,331

6,343

7,060

7,831

324

317

788

786

Capital Work in Progress

443

1,143

1,374

1,734

1,882

Cash & Bank

1,931

2,278

2,162

2,868

1,890

1,921

2,339

2,240

Total Assets

5,331

6,343

7,060

7,831

Mar 2023

Mar 2024

Mar 2025

Mar 2026

812

882

833

1,273

Cash from Investing

-317

-200

-258

-446

Cash from Financing

-434

-404

-910

-787

277

-334

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

62.40

7.78

7.54

7.45

7.37

7.28

7.27

7.19

4.86

3.91

13.74

13.92

13.73

13.89

14.16

14.18

14.02

14.86

Government

0.00

16.06

16.14

16.43

16.35

16.17

16.15

16.40

17.89

18.84

Indian Railway Catering And Tourism Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Indian Railway Catering And Tourism Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI