India Tourism Development Corporation Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Hotel / Restaurants Operations: 61.9% • Ashok Events & Misc.Operations: 29.6% • Travels & Tour Operations: 4.3%
AI Sector View
AI GENERATEDConsumer Services
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.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 30.4%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.8%
- Company has delivered good sales growth of 24.6% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Company has been maintaining a healthy dividend payout of 30.6%
CONS
- A large part of profit comes from other income (26.6% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.53x)
- Contingent liabilities are large at 265.5% of net worth
- Stock is trading at 7.5x its book value
- Expensive relative to growth - PEG of 4.7
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| INDHOTEL | 720.50 | 47.79 | 102558.29 | 0.45 | 390.81 | 18.67 | 2339.19 | 14.61 | 25.70 | 28.75 |
| ITCHOTELS | 154.10 | 37.15 | 32099.12 | 0.65 | 181.91 | 36.05 | 936.02 | 15.71 | 10.54 | 31.62 |
| CHALET | 877.50 | 36.39 | 19216.73 | 0.23 | 86.12 | -57.60 | 512.27 | -42.73 | 17.19 | 45.68 |
| THELEELA | 553.65 | 41.72 | 18489.58 | 0.00 | 48.76 | 460.27 | 351.96 | 28.08 | 8.97 | 36.30 |
| EIHOTEL | 285.90 | 25.13 | 17879.16 | 0.52 | 120.31 | 226.22 | 656.96 | 14.54 | 19.68 | 26.02 |
| VENTIVE | 569.70 | 27.75 | 13304.87 | 0.00 | 124.18 | 227.44 | 542.80 | 6.97 | 13.15 | 35.30 |
| LEMONTREE | 105.65 | 35.65 | 8370.08 | 0.00 | 57.34 | 19.21 | 344.61 | 9.13 | 18.72 | 43.36 |
| ITDC | 669.05 | 69.69 | 5738.40 | 0.44 | 9.39 | -3.63 | 90.10 | 2.68 | 29.05 | 9.25 |
| JUNIPER | 227.55 | 30.52 | 5063.04 | 0.00 | 33.26 | 269.47 | 249.53 | 13.04 | 7.85 | 34.56 |
| MHRIL | 196.95 | 75.12 | 3979.74 | 0.00 | -85.59 | -1293.89 | 7328.14 | 944.78 | 42.30 | 15.36 |
| SAMHI | 160.20 | 7.07 | 3562.20 | 0.00 | 24.93 | 29.72 | 305.21 | 12.12 | 12.38 | 32.18 |
| ORIENTHOT | 139.60 | 37.43 | 2493.24 | 0.47 | 5.30 | -20.06 | 111.48 | 3.56 | 12.52 | 17.26 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 118 | 131 | 135 | 141 | 81 | 146 | 149 | 200 | 88 | 118 | 185 | 142 | 90 | |
| 96 | 107 | 112 | 116 | 74 | 126 | 124 | 168 | 79 | 99 | 152 | 112 | 84 | |
| Operating Profit | 22 | 24 | 23 | 25 | 8 | 20 | 25 | 32 | 9 | 19 | 33 | 30 | 7 |
| OPM % | 18.90% | 18.28% | 16.79% | 17.42% | 9.59% | 13.74% | 16.99% | 16.10% | 10.23% | 16.12% | 17.77% | 21.47% | 7.26% |
| 4 | 3 | 5 | 6 | 4 | 6 | 7 | 5 | 6 | 7 | 8 | 10 | 7 | |
| Interest | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 25 | 25 | 25 | 27 | 10 | 24 | 30 | 35 | 13 | 24 | 38 | 38 | 14 |
| Tax % | 30.93% | 23.56% | 29.26% | 60.48% | -22.20% | 2.01% | 30.88% | 28.17% | 21.25% | 30.11% | 26.72% | 25.43% | 30.48% |
| Net Profit | 0 | 0 | 0 | 0 | 12 | 24 | 21 | 25 | 10 | 16 | 28 | 28 | 9 |
| 2.00 | 2.23 | 2.11 | 1.24 | 1.38 | 2.78 | 2.42 | 2.91 | 1.15 | 1.93 | 3.28 | 3.30 | 1.09 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 349 | 346 | 354 | 347 | 177 | 294 | 461 | 509 | 571 | 533 | 535 | |
| 336 | 358 | 329 | 325 | 222 | 292 | 389 | 415 | 487 | 442 | 446 | |
| Operating Profit | 13 | -12 | 25 | 22 | -44 | 2 | 71 | 94 | 84 | 91 | 89 |
| OPM % | 3.86% | -3.41% | 7.13% | 6.34% | -24.99% | 0.72% | 15.50% | 18.37% | 14.76% | 17.15% | 16.62% |
| 16 | 58 | 44 | 25 | 19 | 13 | 17 | 19 | 21 | 30 | 31 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 2 | 2 |
| Depreciation | 7 | 7 | 7 | 8 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Profit before Tax | 21 | 38 | 61 | 39 | -34 | 7 | 80 | 102 | 98 | 113 | 114 |
| Tax % | 38.13% | 23.40% | 29.22% | 42.52% | -2.53% | 44.82% | 32.15% | 36.44% | 17.85% | 26.39% | 27.45% |
| Net Profit | 13 | 29 | 43 | 22 | -35 | 4 | 55 | 65 | 80 | 83 | 82 |
| EPS | 0.76 | 0.83 | 4.79 | 1.46 | -3.90 | 0.49 | 6.43 | 7.53 | 9.37 | 9.64 | — |
| Dividend Payout % | 153.16% | 137.16% | 45.85% | 0.00% | 0.00% | 0.00% | 34.23% | 33.46% | 30.94% | 30.59% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- 25%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 17%
- 5 Years:
- —
- 3 Years:
- 14%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 22%
- 1 Year:
- 3%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 17%
- 3 Years:
- 22%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 86 | 86 | 86 | 86 | 86 | 86 | 86 | 86 | 86 | 86 |
| Minority Interest | -6 | -3 | -5 | -7 | -9 | -10 | -10 | -11 | -11 | -12 |
| 221 | 222 | 243 | 234 | 195 | 198 | 252 | 220 | 277 | 337 | |
| 11 | 13 | 15 | 18 | 17 | 17 | 21 | 23 | 25 | 13 | |
| Trade Payables | 68 | 61 | 64 | 56 | 46 | 62 | 93 | 89 | 125 | 79 |
| 201 | 243 | 220 | 195 | 192 | 191 | 450 | 576 | 199 | 213 | |
| Total Liabilities | 580 | 621 | 623 | 581 | 527 | 543 | 892 | 983 | 701 | 715 |
| 57 | 57 | 55 | 51 | 45 | 40 | 46 | 41 | 42 | 42 | |
| Capital Work in Progress | 13 | 4 | 6 | 6 | 6 | 11 | 3 | 4 | 5 | 8 |
| 13 | 11 | 10 | 10 | 11 | 10 | 10 | 13 | 19 | 18 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75 | 120 | 110 | |
| Cash & Bank | 269 | 313 | 292 | 262 | 232 | 219 | 463 | 570 | 220 | 271 |
| 227 | 236 | 260 | 252 | 232 | 264 | 370 | 281 | 295 | 266 | |
| Total Assets | 580 | 621 | 623 | 581 | 527 | 543 | 892 | 983 | 701 | 715 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 25 | -19 | 18 | -1 | 16 | -6 | -3 | 53 | 70 | |
| Cash from Investing | -1 | 7 | 23 | 11 | 11 | 5 | -3 | 50 | -4 | -73 |
| Cash from Financing | -15 | -9 | -20 | -22 | 0 | 0 | 0 | -19 | -22 | -25 |
| -23 | 13 | -25 | -2 | -2 | 21 | -15 | 28 | 27 | -28 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Significant increase in volume has been observed in India Tourism Development Corporation Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. India Tourism Development Corporation Limited has submitted their response.
2026-09-10 - Significant increase in volume has been observed in India Tourism Development Corporation Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-31 - India Tourism Development Corporation Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-29 - India Tourism Development Corporation Limited has informed the Exchange about Letter containing exact path of Annual Report for FY 2025-26 sent to those shareholder(s) whose email address(es) are not registered with the Registrar and Share Transfer Agent(s) of the Company (RTA) / Depository Participant(s).
2026-08-29 - India Tourism Development Corporation Limited has informed the Exchange that Record date for the purpose of Dividend is 15-Sep-2026.
2026-08-29 - India Tourism Development Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026
2026-08-28 - India Tourism Development Corporation Limited has informed the Exchange about Copy of Newspaper publication regarding 61st AGM of the Company
2026-08-11 - Newspaper Publication for Unaudited Financial Results ( Standalone & Consolidated) for the First quarter ended 30.06.2026.
2026-08-10 - India Tourism Development Corporation Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for ITDC
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