Outcome of the Board Meeting regarding the Audited Financial Results for the FY ended 31.03.2026.

Qualified audit opinionEmphasis of matterRevenue declinedEBITDA margin expansionResults View source PDF Explain this filing

ITDC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%+1.5% vs market

Hotels & Resorts peers, median of 53sector+0.0%+1.6% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.6 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Hotels & Resorts peers, median of 53Pending

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AI summary

ITDC reported audited standalone results for FY26 with revenue from operations declining 6.8% to Rs 52,743.48 lakhs from Rs 56,574.73 lakhs in FY25. Net profit grew marginally by 2.7% to Rs 8,402.32 lakhs. The Board recommended a dividend of Rs 2.95 per share totaling Rs 25.30 crore. The auditor issued a QUALIFIED OPINION citing three major issues: MSMED Act compliance failures regarding delayed payments to suppliers, non-recognition of Rs 1,292.59 lakh license fee revenue from COVID period (2020-21), and significant irregularities in the Ashok Travels & Tours GSA agreement with Shree Plan Your Journey involving Rs 1,743.71 lakh in receivables where security held falls short by Rs 183.33 lakh. Multiple 'Emphasis of Matter' notes highlight governance failures (no Independent Directors), property tax disputes, DDA recovery issues of Rs 1,882.09 lakh, and unlinked receipts of Rs 316.04 lakh requiring attention.

Likely market impact

The qualified auditor opinion and multiple emphasis of matter notes signal significant audit and governance risks. Revenue decline combined with unresolved receivables issues and pending legal/disinvestment matters create uncertainty around financial position. Shareholders should monitor the GSA agreement reconciliation outcome and ongoing disinvestment process.

By the numbersConsolidated · Q4 FY26 vs Q4 FY25

	Q4 FY26	Q4 FY25	Change
Revenue	₹142.0 Cr	₹199.9 Cr	−29.0%
Operating profit	₹28.10 Cr	₹30.23 Cr	−7.0%
Profit after tax	₹28.27 Cr	₹24.82 Cr	+13.9%
EBITDA margin	21.5%	16.1%	+5.4 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.