TBO TEK Limited
NSE: TBOTEK · Tour, Travel Related Services · sector
₹1,514.80NSE close 2026-10-26
Key numbers
Market cap₹16,449 cr
Price₹1,514.80
52w high / low₹1,772 / ₹1,004
P/E61.2xSector median 21.1x
P/B10.6xSector median 2.7x
Book value₹142.8
Dividend yield–Sector median 2.09%
ROE19.3%Sector median 16.5%
ROCE17.0%Sector median 17.0%
OPM13.8%Sector median 6.7%
Debt / equity0.42xSector median 0.09x
EV/EBITDA36.5xSector median 12.8x
Interest cover7.1x
Current ratio1.08x
Sales growth 3y–Sector median +13.8%
Profit growth 3y–Sector median +93.0%
PEG4.33x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 18 companies in Tour, Travel Related Services (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,539 cr vs borrowings ₹645 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 7.1x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 3 years (FY26, FY25).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 20% of net profit in the last 12 months.
- Debtor days went from 867 (FY24) to 724 (FY26).
- No dividend in the last 3 financial years.
- Price ₹1,514.80 on 2026-10-26: -14.5% from the 52-week high, +50.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,794.30 · low ₹1,013.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 451 | 422 | 446 | 511 | 568 | 784 | 814 | 926 |
| EBITDA | 83 | 59 | 74 | 82 | 88 | 95 | 105 | 138 |
| OPM % | 18.4% | 14.0% | 16.5% | 16.0% | 15.5% | 12.1% | 12.9% | 14.9% |
| Other income | 7 | 17 | 16 | 13 | 15 | 12 | 13 | 13 |
| Net profit | 60 | 50 | 59 | 63 | 68 | 54 | 60 | 83 |
| EPS (₹) | 5.71 | 4.70 | 5.54 | 5.90 | 6.32 | 5.03 | 5.62 | 7.77 |
| Revenue YoY | +25.9% | +85.8% | +82.5% | +81.1% | ||||
| Profit YoY | +12.4% | +7.4% | +2.0% | +32.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 1,393 | 1,737 | 2,677 | 3,092 |
| EBITDA | 251 | 288 | 372 | 426 |
| Net profit | 202 | 230 | 244 | 265 |
| EPS (₹) | 19.85 | 21.73 | 22.88 | 24.74 |
| Revenue growth | +24.7% | +54.1% | +68.9% | |
| Profit growth | +13.7% | +6.3% | +14.1% | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +68.9% |
| Net profit | – | – | +14.1% |
| EPS | – | – | – |
| Share price | – | -2.9% (2y) | -0.2% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 545 | 1,195 | 1,551 |
| Borrowings | 135 | 136 | 645 |
| Cash & equivalents | 854 | 1,456 | 1,539 |
| Total assets | 4,857 | 6,214 | 9,309 |
| Fixed assets | 80 | 78 | 114 |
| Capital work in progress | 0 | 0 | 0 |
| Investments | 0 | 2 | 2 |
| Receivables | 3,307 | 4,061 | 5,314 |
| Inventory | 0 | 0 | 0 |
| Payables | 3,603 | 4,321 | 5,422 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 222 | 68 | 46 |
| Cash from investing | -153 | -220 | -485 |
| Cash from financing | 115 | 365 | 441 |
| Capex | 39 | 53 | 67 |
| Free cash flow | 183 | 15 | -20 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 37.1% | 19.2% | 15.8% |
| ROCE % | 34.9% | 22.4% | 15.3% |
| Debtor days | 867 | 853 | 724 |
| Inventory days | 0 | 0 | 0 |
| Payable days | 944 | 908 | 739 |
| Cash conversion cycle (days) | -77 | -55 | -15 |
| Working capital days | 110 | 202 | 76 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 44.41% |
| FIIs | 22.51% |
| DIIs | 27.20% |
| of which Mutual funds | 24.17% |
| of which Insurance | 1.67% |
| Government | 0.00% |
| Public (non-institutions) | 4.44% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 44.41% | 44.41% | 44.41% | 44.41% | 44.41% | 44.41% | 44.41% | 44.41% |
| Promoter group | % |
|---|---|
| LAP Travel Private Limited | 21.60% |
| Gaurav Bhatnagar | 17.33% |
| Manish Dhingra | 4.87% |
| Ankush Nijhawan | 0.60% |
| Sham Nijhawan | 0.00% |
| Palak Bhatnagar | 0.00% |
| Kirti Dhingra | 0.00% |
| Arjun Nijhawan | 0.00% |
| Priyanka Nijhawan | 0.00% |
| Lalita Nijhawan | 0.00% |
| Aadya Nijhawan | 0.00% |
| Usha Kiran | 0.00% |
| Rahul Leekha | 0.00% |
| Satinder Leekha | 0.00% |
| Nandita Dhingra | 0.00% |
| Public holders above 1% | % |
|---|---|
| General Atlantic Singapore TBO PTE. Ltd | 14.40% |
| ICICI Prudential Technology Fund | 4.26% |
| Nippon Life India Trustee Ltd-a/c Nippon India VAL | 4.18% |
| Franklin India Aggressive Hybrid Fund | 3.39% |
| Canara Robeco Mutual Fund A/C Canara Robeco Small | 2.53% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual F | 2.27% |
| SBI Technology Opportunities Fund | 2.16% |
| Government Pension Fund Global | 1.81% |
| TBO Employees Benefit Trust | 1.44% |
| Edelweiss Trusteeship Co Ltd AC- Edelweiss MF AC- | 1.40% |
| Tata Mutual Fund - Tata Nifty India Digital Exchan | 1.16% |
43,736 shareholders. Pledged: – of promoter shares.
Peers in Tour, Travel Related Services
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| IRCTC | ₹35,092 cr | 25.2x | 8.2x | 35.0% | 43.9% | 30.8% | +13.8% | 2.17% |
| TBOTEK | ₹16,449 cr | 61.2x | 10.6x | 19.3% | 17.0% | 13.8% | – | – |
| BLS | ₹8,611 cr | 12.2x | 3.5x | 33.6% | 31.8% | 27.3% | +25.5% | 1.51% |
| CORDELIA | ₹6,467 cr | – | 8.9x | – | – | – | – | – |
| IXIGO | ₹6,402 cr | 42.7x | 2.9x | 10.5% | 9.1% | 10.1% | – | – |
| THOMASCOOK | ₹4,206 cr | 19.1x | 1.6x | 9.1% | 14.1% | 4.8% | +18.5% | 0.67% |
| EASEMYTRIP | ₹2,196 cr | – | 2.7x | -6.9% | -6.9% | -14.3% | +6.1% | – |
| YATRA | ₹1,194 cr | 30.4x | 1.4x | 3.9% | 5.2% | 6.7% | – | – |
| MACHLTD | ₹453 cr | 29.0x | 4.5x | 16.6% | 20.7% | 8.5% | – | – |
| ITHL | ₹210 cr | 12.8x | 1.1x | 9.1% | 12.0% | 10.9% | +8.0% | 2.09% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Hotels and Packages | ₹2,239 cr | 83.6% | ₹1,400 cr | 62.5% |
| Air Ticketing | ₹324 cr | 12.1% | ₹169 cr | 52.1% |
| Others | ₹114 cr | 4.2% | ₹105 cr | 91.9% |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Travel Agency, Tour Operator & Other Reservation Service Activities: Travel agency and tour operators
| Sector | Consumer Discretionary |
| Industry | Tour, Travel Related Services |
| Sub-industry | Tour, Travel Related Services |
| Symbol | TBOTEK |
| BSE code | 544174 |
| ISIN | INE673O01025 |
| Face value | ₹1.0 |
| Incorporated | 2006-11-06 |
| Website | www.tbo.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.