Travel Food Services Ltd.

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travelfoodservices.comBSE: 544443NSE: TRAVELFOOD

Market Cap₹ 16,934 Cr.

Current Price

High / Low₹ 1,471 / 1,035

Stock P/E35.6

Book Value₹ 118

Price to Book11.56

Dividend Yield0.80 %

ROCE52.8 %

ROE36.4 %

Face Value₹ 1

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ABOUT

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 54.1%
Company has a good return on equity (ROE) track record: 3 Years ROE 38.3%
Company has delivered good sales growth of 59.0% CAGR over last 5 years
Latest quarter profit grew 35.6% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years

CONS

Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -13.8pp
Equity base is being diluted - shares outstanding up 240.0%
Working capital days have increased from 75 to 142 days
Stock is trading at 11.6x its book value

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

Peer comparison

Consumer ServicesHospitalityRestaurants

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	TRAVELFOOD	1285.70	35.58	16933.97	0.80	128.75	35.58	452.22	20.58	52.83	38.36
2.	WESTLIFE	558.80	274.96	8713.71	0.07	0.59	-52.20	735.64	12.56	20.23	12.63
3.	RBA	96.96	0.00	6904.31	0.00	-33.00	27.35	822.61	17.90	-1.34	12.18
4.	COFFEEDAY	32.03	3.85	676.64	0.00	4.52	-80.58	289.90	7.64	8.21	16.77

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	410	500	411	367	375	356	456	461	452
	308	340	253	232	229	221	275	274	340
Operating Profit	102	160	158	135	146	135	181	186	112
OPM %	24.85%	31.96%	38.36%	36.74%	38.87%	37.99%	39.73%	40.44%	24.88%
	15	18	22	20	21	21	23	31	46
Interest	17	5	14	10	9	8	10	37	8
Depreciation	29	31	33	33	34	38	39	40	42
Profit before Tax	71	143	133	111	124	110	155	140	170
Tax %	37.91%	24.11%	26.85%	25.10%	30.09%	23.73%	25.78%	28.39%	24.37%
Net Profit	0	0	0	0	95	98	137	123	129
	4.21	8.14	7.42	7.81	6.97	7.27	10.08	9.17	9.62

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
	588	530	597	774	162	390	1,067	1,396	1,688	1,648	1,725
	469	395	484	646	198	306	693	984	1,134	999	1,110
Operating Profit	119	134	113	128	-36	84	374	412	554	649	615
OPM %	20.21%	25.38%	18.96%	16.50%	-22.20%	21.44%	35.03%	29.52%	32.83%	39.36%	35.67%
	13	4	18	15	20	52	36	66	75	95	120
Interest	11	3	3	2	5	45	48	52	46	64	63
Depreciation	27	18	25	21	22	79	83	111	126	150	158
Profit before Tax	94	116	103	119	-43	17	327	387	504	595	575
Tax %	31.60%	37.19%	33.97%	29.09%	-24.73%	69.64%	23.18%	23.06%	24.72%	24.04%	25.61%
Net Profit	64	73	68	85	-54	5	251	298	380	452	428
EPS	134.49	215.23	224.90	268.83	-147.65	0.38	18.52	743.05	27.58	33.49	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	49.70%	16.53%	30.60%	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 59%
3 Years:: 16%

COMPOUNDED PROFIT GROWTH

10 Years:: 28%
5 Years:: —
3 Years:: 22%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -1%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 33%
3 Years:: 38%
Last Year:: 36%

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	4	4	4	4	4	4	4	4	13	13
Minority Interest	33	6	7	18	7	6	10	14	17	21
	235	319	407	513	459	406	652	870	1,040	1,421
	56	25	32	31	41	398	327	335	224	100
Trade Payables	25	19	25	35	24	113	178	275	339	355
	54	40	34	85	90	73	110	143	213	299
Total Liabilities	407	412	509	686	625	999	1,281	1,641	1,846	2,208
	114	68	70	75	59	408	353	387	372	289
Capital Work in Progress	3	4	1	0	24	2	6	23	39	28
	86	143	202	370	304	315	464	594	868	1,123
	5	5	8	7	7	7	11	12	9	13
	0	0	0	0	0	0	0	105	106	264
Cash & Bank	48	92	59	29	67	101	134	179	38	59
	150	100	169	205	163	165	313	342	415	432
Total Assets	407	412	509	686	625	999	1,281	1,641	1,846	2,208

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
	41	119	105	152	14	99	384	353	515	393
Cash from Investing	-110	-78	-61	-120	-11	-31	-197	-155	-191	-150
Cash from Financing	72	-9	2	3	-4	-47	-104	-172	-343	-221
	4	-7	-3	-3	-1	-1	21	26	-19	22

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

Shareholding Pattern

Numbers in percentages

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Jul 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	100.00	100.00	100.00	100.00	86.19	86.19	86.19	86.19	86.19
	0.00	0.00	0.00	0.00	2.96	2.77	2.39	1.55	1.65
	0.00	0.00	0.00	0.00	5.02	8.03	8.84	9.71	10.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	5.82	3.00	2.58	2.55	2.14

Documents

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

2026-09-03

Updates

2026-09-03 - Travel Food Services Limited has informed the Exchange regarding 'Allotment of fully paid equity shares against the exercise of stock option granted under TFS ESOP Plan'.

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Travel Food Services Limited has informed the Exchange about copies of the newspaper advertisement published in Financial Express (English) and Lok Satta (Marathi) inter alia confirming dispatch of Notice of 19th Annual General Meeting ( AGM ) scheduled to be held on Wednesday, 16th September, 2026 at 11:00 a.m. (IST) through Video Conferencing ( VC ) / Other Audio Visual Means ( OAVM ) along with Annual Report of the Company for the financial year 2025-26

2026-08-26

Updates

2026-08-26 - Travel Food Services Limited has informed the Exchange regarding 'Pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations, we hereby inform that the Company has sent communication to those Shareholders whose email addresses are not registered with the Company, Registrar and Share Transfer Agent or Depository Participants, providing the web link for accessing the Annual Report for the Financial Year 2025-26.'.

2026-08-25

Updates

2026-08-25 - Travel Food Services Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the financial year 2025-26'.

2026-08-25

Record Date

2026-08-25 - Travel Food Services Limited has informed the Exchange that Record date for the purpose of Dividend is 09-Sep-2026.

2026-08-25

Shareholders meeting

2026-08-25 - Travel Food Services Limited has informed the Exchange regarding Notice of 19th AGM and Annual Report for the financial year 2025-26.

2026-08-24

Copy of Newspaper Publication

2026-08-24 - Travel Food Services Limited has informed the Exchange about Copy of Newspaper Publication informing the shareholders about 19th Annual General Meeting of the Company and Annual Report for the financial year 2025-26

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Travel Food Services Limited has informed the Exchange about Earning Call Transcript Q1 FY2026-27 Results

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Travel Food Services Limited has informed the Exchange about Link of Recording

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