TSC India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Travel Services: 93.3% • Financial Services: 6.7%
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 has a good return on equity (ROE) track record: 3 Years ROE 47.0%
- Company has a healthy return on capital (ROCE) of 24.8%
CONS
- Company has a high debt-to-equity of 1.61x
- Operating cash flow has been negative in recent years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.36x)
- Equity base is being diluted - shares outstanding up 439.1%
- Working capital days have increased from 99 to 187 days
- Operating margins have contracted to 31.9% from 61.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| IRCTC | 467.70 | 26.86 | 37416.00 | 1.92 | 330.16 | -0.16 | 1369.53 | 18.10 | 47.50 | 28.23 |
| TBOTEK | 1672.75 | 68.62 | 18164.02 | 0.00 | 83.36 | 32.38 | 925.78 | 81.07 | 19.59 | 14.91 |
| CORDELIA | 109.50 | 152.03 | 7927.20 | 0.00 | 227.73 | — | 1901.12 | — | 74.77 | 23.68 |
| IXIGO | 161.65 | 83.35 | 7130.14 | 0.00 | 34.24 | 80.75 | 356.75 | 13.44 | 6.67 | 5.72 |
| THOMASCOOK | 108.05 | 23.24 | 5082.46 | 0.46 | 63.71 | -13.39 | 2091.89 | -13.13 | 21.13 | 4.46 |
| EASEMYTRIP | 5.80 | 0.00 | 2311.10 | 0.00 | -11.69 | -363.84 | 134.71 | 18.38 | 21.68 | -9.98 |
| YATRA | 114.05 | 57.45 | 1789.63 | 0.00 | 0.34 | -97.88 | 187.90 | -10.45 | 7.03 | 6.61 |
| DREAMFOLKS | 67.01 | 0.00 | 356.96 | 0.00 | -13.83 | -165.03 | 39.01 | -88.82 | 6.00 | -53.24 |
| INTLTRAVHS | 281.85 | 13.06 | 225.32 | 1.95 | 5.64 | -17.93 | 55.27 | -3.06 | 15.00 | 14.06 |
| TRANSCOR | 25.30 | 8.48 | 80.99 | 2.37 | 2.18 | 113.84 | 284.99 | 24.31 | 15.40 | 0.68 |
| TSC | 52.25 | 20.56 | 75.86 | 0.00 | 1.74 | — | 8.10 | — | 23.75 | 35.06 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2024 | Jun 2025 | |
|---|---|---|
| 6 | 8 | |
| 4 | 5 | |
| Operating Profit | 2 | 3 |
| OPM % | 36.89% | 34.94% |
| 0 | 0 | |
| Interest | 0 | 0 |
| Depreciation | 0 | 0 |
| Profit before Tax | 2 | 2 |
| Tax % | 25.41% | 27.50% |
| Net Profit | 0 | 2 |
| 1.73 | 1.57 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 5 | 9 | 19 | 26 | |
| 2 | 7 | 12 | 18 | |
| Operating Profit | 2 | 2 | 7 | 8 |
| OPM % | 52.44% | 25.12% | 35.93% | 31.87% |
| 0 | 0 | 1 | 1 | |
| Interest | 2 | 1 | 1 | 1 |
| Depreciation | 0 | 1 | 1 | 1 |
| Profit before Tax | 1 | 2 | 6 | 7 |
| Tax % | 44.23% | 28.12% | 25.23% | 26.60% |
| Net Profit | 0 | 1 | 5 | 5 |
| EPS | 1.50 | 2.54 | 21.73 | 4.71 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 79%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 157%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 47%
- Last Year:
- 40%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 10 |
| Minority Interest | 1 | 1 | 2 | 3 |
| 2 | 3 | 7 | 5 | |
| 5 | 13 | 17 | 25 | |
| Trade Payables | 4 | 5 | 22 | 13 |
| 1 | 1 | 4 | 3 | |
| Total Liabilities | 14 | 26 | 53 | 61 |
| 1 | 3 | 3 | 2 | |
| 0 | 0 | 30 | 30 | |
| Cash & Bank | 2 | 0 | 6 | 4 |
| 12 | 23 | 15 | 25 | |
| Total Assets | 14 | 26 | 53 | 61 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 4 | -1 | -0 | -13 | |
| Cash from Investing | -5 | -7 | 2 | 1 |
| Cash from Financing | -3 | 8 | 4 | 10 |
| -4 | -0 | 5 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for TSC
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