Tourism Finance Corporation Of India Ltd.

•

₹ 130.99-1.33%

2026-08-21

tfciltd.comBSE: 526650NSE: TFCILTD

Market Cap₹ 6,088 Cr.

Current Price₹ 133

High / Low₹ 132 / 51

Stock P/E71.2

Book Value—

Price to Book—

Dividend Yield0.46 %

ROCE10.5 %

ROE9.9 %

Face Value₹ 2

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ABOUT

KEY POINTS

PROS

Comfortable capital adequacy - CAR of 55.5%
Solid return on assets for a lender - ROA of 5.5%
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 81.4% versus prior year
Promoter holding has decreased over last 2 years: -4.0pp
Company has a low return on capital employed of 10.3%
Though reporting repeated profits, the company pays out little dividend (12.7%)

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

Peer comparison

EDIT COLUMNS

Financial ServicesFinanceFinance Term Lending

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	PFC	376.00	4.76	124083.83	4.93	8997.92	0.18	28526.86	0.32	10.05	99.88
2.	IRFC	85.10	0.00	111212.99	2.47	1927.21	10.40	8261.11	451.73	5.64	99.49
3.	RECLTD	337.35	5.54	88831.81	5.50	4192.76	-6.11	14434.92	-1.51	9.71	96.90
4.	IFCI	81.60	126.04	21985.60	0.00	60.27	-3.46	327.06	4.79	11.51	57.66
5.	TFCILTD	131.50	71.22	6088.15	0.46	18.38	-8.25	51.00	-17.46	11.13	90.10
6.	SATIN	224.35	6.05	2478.42	0.00	122.65	171.94	762.14	7.70	12.15	62.96
7.	TRU	4.35	0.00	51.70	0.00	-10.58	-16.29	11.27	-62.55	3.48	-79.12

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
	66	66	62	61	63	58	51
	39	38	36	5	5	13	5
Operating Profit	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—
Other Income	0	0	0	0	0	0	0
Interest	32	32	29	27	26	22	21
Depreciation	0	0	0	0	0	0	0
	26	27	26	29	31	22	24
Tax %	19.85%	20.55%	21.85%	21.47%	20.65%	9.22%	24.61%
Net Profit	21	22	20	22	25	20	18
	0	0	0	2	3	2	2
Equity Capital	81	81	90	90	90	90	90
Reserves	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	81	81	90	90	90	90	90
Reserves	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2021

: 66
: 39
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 32
Depreciation: 0
: 26
Tax %: 19.85%
Net Profit: 21
: 0
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2021

: 66
: 38
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 32
Depreciation: 0
: 27
Tax %: 20.55%
Net Profit: 22
: 0
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 81
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2021

: 62
: 36
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 29
Depreciation: 0
: 26
Tax %: 21.85%
Net Profit: 20
: 0
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2022

: 61
: 5
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 27
Depreciation: 0
: 29
Tax %: 21.47%
Net Profit: 22
: 2
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2022

: 63
: 5
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 26
Depreciation: 0
: 31
Tax %: 20.65%
Net Profit: 25
: 3
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2022

: 58
: 13
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 22
Depreciation: 0
: 22
Tax %: 9.22%
Net Profit: 20
: 2
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2022

: 51
: 5
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 21
Depreciation: 0
: 24
Tax %: 24.61%
Net Profit: 18
: 2
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 90
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	TTM
	276	258	258	232
	60	27	28	28
Operating Profit	219	231	229	—
OPM %	79	89	89	—
Other Income	3	0	0	0
Interest	121	130	120	97
Depreciation	1	1	1	2
	97	100	108	106
Tax %	17	19	21	19
Net Profit	81	81	85	85
EPS	0	10	10	—
Dividend Payout %	0	8	13	—
Minority Interest	0	0	0	-0
Share of Associates	0	0	0	0
Adjusted EPS	2	2	2	—
Minority Interest	0	0	0	-0
Share of Associates	0	0	0	0
Adjusted EPS	2	2	2	—

Mar 2020

: 276
: 60
Operating Profit: 219
OPM %: 79
Other Income: 3
Interest: 121
Depreciation: 1
: 97
Tax %: 17
Net Profit: 81
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2021

: 258
: 27
Operating Profit: 231
OPM %: 89
Other Income: 0
Interest: 130
Depreciation: 1
: 100
Tax %: 19
Net Profit: 81
EPS: 10
Dividend Payout %: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2022

: 258
: 28
Operating Profit: 229
OPM %: 89
Other Income: 0
Interest: 120
Depreciation: 1
: 108
Tax %: 21
Net Profit: 85
EPS: 10
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

TTM

: 232
: 28
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 97
Depreciation: 2
: 106
Tax %: 19
Net Profit: 85
EPS: —
Dividend Payout %: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 30%
5 Years:: 61%
3 Years:: 86%
1 Year:: 113%

RETURN ON EQUITY

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
LIABILITIES	-	-	-
Equity Capital	81	81	90
	673	711	847
	50	60	80
	1,721	1,633	1,392
Total Liabilities	2,525	2,485	2,409
ASSETS	-	-	-
	18	16	17
	218	159	165
Cash & Bank	191	18	211
	2,098	2,292	2,015
Total Assets	2,525	2,485	2,409
Total Debt	1,447	1,360	1,272
Net Working Capital	136	-44	129
Contingent Liabilities	2	5	5
Book Value per Share	93.35	98.07	103.67
Face Value	10.00	10.00	10.00
Total Debt	1,447	1,360	1,272
Net Working Capital	136	-44	129
Contingent Liabilities	2	5	5
Book Value per Share	93.35	98.07	103.67
Face Value	10.00	10.00	10.00

Mar 2020

Equity Capital: 81
: 673
: 50
: 1,721
Total Liabilities: 2,525
: 18
: 218
Cash & Bank: 191
: 2,098
Total Assets: 2,525
Total Debt: 1,447
Net Working Capital: 136
Contingent Liabilities: 2
Book Value per Share: 93.35
Face Value: 10.00
Total Debt: 1,447
Net Working Capital: 136
Contingent Liabilities: 2
Book Value per Share: 93.35
Face Value: 10.00

Mar 2021

Equity Capital: 81
: 711
: 60
: 1,633
Total Liabilities: 2,485
: 16
: 159
Cash & Bank: 18
: 2,292
Total Assets: 2,485
Total Debt: 1,360
Net Working Capital: -44
Contingent Liabilities: 5
Book Value per Share: 98.07
Face Value: 10.00
Total Debt: 1,360
Net Working Capital: -44
Contingent Liabilities: 5
Book Value per Share: 98.07
Face Value: 10.00

Mar 2022

Equity Capital: 90
: 847
: 80
: 1,392
Total Liabilities: 2,409
: 17
: 165
Cash & Bank: 211
: 2,015
Total Assets: 2,409
Total Debt: 1,272
Net Working Capital: 129
Contingent Liabilities: 5
Book Value per Share: 103.67
Face Value: 10.00
Total Debt: 1,272
Net Working Capital: 129
Contingent Liabilities: 5
Book Value per Share: 103.67
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
	161	-171	139
Cash from Investing	-1	-0	-2
Cash from Financing	-22	-1	57
	139	-172	193
Free Cash Flow	161	-172	137
OCF / Net Profit	1.99	-2.12	1.63
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	1.99	-2.12	1.63
Cumulative 5-Year FCF	0	0	0

Mar 2020

: 161
Cash from Investing: -1
Cash from Financing: -22
: 139
Free Cash Flow: 161
OCF / Net Profit: 1.99
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.99
Cumulative 5-Year FCF: 0

Mar 2021

: -171
Cash from Investing: -0
Cash from Financing: -1
: -172
Free Cash Flow: -172
OCF / Net Profit: -2.12
Cumulative 5-Year FCF: 0
OCF / Net Profit: -2.12
Cumulative 5-Year FCF: 0

Mar 2022

: 139
Cash from Investing: -2
Cash from Financing: 57
: 193
Free Cash Flow: 137
OCF / Net Profit: 1.63
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.63
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
PER SHARE	-	-	-
EPS (₹)	10.04	10.00	9.44
Book Value (₹)	93.35	98.07	103.67
Dividend per Share (₹)	0.00	0.80	1.20
Cash EPS (₹)	2.02	2.03	1.92
PROFITABILITY	-	-	-
Operating Margin %	79.38%	89.41%	89.01%
Net Margin %	29.39%	31.23%	33.10%
ROE %	10.75%	10.45%	9.87%
ROCE %	9.91%	10.57%	10.45%
	3.21%	3.22%	3.49%
EFFICIENCY	-	-	-
Debtor Days	0	0	0
Inventory Days	0	0	0
Payable Days	0	0	0
	0	0	0
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	1.92x	1.72x	1.36x
Interest Coverage (x)	1.81x	1.77x	1.90x
	2.45x	0.53x	2.12x
GROWTH	-	-	-
Revenue Growth %	0.00%	-6.24%	-0.28%
Operating Profit Growth %	0.00%	5.61%	-0.73%
Net Profit Growth %	0.00%	-0.37%	5.70%
	0.00%	0.00%	0.00%
VALUATION	-	-	-
P/E (x)	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x

Mar 2020

EPS (₹): 10.04
Book Value (₹): 93.35
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.02
Operating Margin %: 79.38%
Net Margin %: 29.39%
ROE %: 10.75%
ROCE %: 9.91%
: 3.21%
Debtor Days: 0
Inventory Days: 0
Payable Days: 0
: 0
Debt to Equity (x): 1.92x
Interest Coverage (x): 1.81x
: 2.45x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 10.00
Book Value (₹): 98.07
Dividend per Share (₹): 0.80
Cash EPS (₹): 2.03
Operating Margin %: 89.41%
Net Margin %: 31.23%
ROE %: 10.45%
ROCE %: 10.57%
: 3.22%
Debtor Days: 0
Inventory Days: 0
Payable Days: 0
: 0
Debt to Equity (x): 1.72x
Interest Coverage (x): 1.77x
: 0.53x
Revenue Growth %: -6.24%
Operating Profit Growth %: 5.61%
Net Profit Growth %: -0.37%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 9.44
Book Value (₹): 103.67
Dividend per Share (₹): 1.20
Cash EPS (₹): 1.92
Operating Margin %: 89.01%
Net Margin %: 33.10%
ROE %: 9.87%
ROCE %: 10.45%
: 3.49%
Debtor Days: 0
Inventory Days: 0
Payable Days: 0
: 0
Debt to Equity (x): 1.36x
Interest Coverage (x): 1.90x
: 2.12x
Revenue Growth %: -0.28%
Operating Profit Growth %: -0.73%
Net Profit Growth %: 5.70%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	7.85	7.85	3.85	3.85	3.85	3.85	3.85	3.85	3.85
	2.97	2.78	2.85	3.44	5.16	4.61	4.34	2.77	5.46
	0.04	0.00	0.00	0.00	0.08	0.08	0.00	0.05	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	89.13	89.36	93.30	92.71	90.90	91.46	91.82	93.33	90.69

Jun 2024

: 7.85
: 2.97
: 0.04
Government: 0.00
: 89.13

Sep 2024

: 7.85
: 2.78
: 0.00
Government: 0.00
: 89.36

Dec 2024

: 3.85
: 2.85
: 0.00
Government: 0.00
: 93.30

Mar 2025

: 3.85
: 3.44
: 0.00
Government: 0.00
: 92.71

Jun 2025

: 3.85
: 5.16
: 0.08
Government: 0.00
: 90.90

Sep 2025

: 3.85
: 4.61
: 0.08
Government: 0.00
: 91.46

Dec 2025

: 3.85
: 4.34
: 0.00
Government: 0.00
: 91.82

Mar 2026

: 3.85
: 2.77
: 0.05
Government: 0.00
: 93.33

Jun 2026

: 3.85
: 5.46
: 0.00
Government: 0.00
: 90.69

Documents

Announcements

Updates
2026-07-31 - Tourism Finance Corporation of India Limited has informed the Exchange regarding 'Intimation Letter'.
Copy of Newspaper Publication
2026-07-31 - Tourism Finance Corporation of India Limited has informed the Exchange about Copy of Newspaper Publication

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Jul 2026
TranscriptPPTREC
May 2026
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Jan 2026
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