Indian Railway Catering And Tourism Corporation Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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On the reaction day the stock moved 0.5 pts more than Nifty Midcap 150 and in line with its Tour Travel Related Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IRCTC's Board of Directors, at its meeting on February 12, 2026, approved the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board also declared a 2nd Interim Dividend of ₹3.50 per share (175% on face value of ₹2) for FY 2025-26, with February 20, 2026 fixed as the record date. Exceptional items for the 9-month period totalled ₹1,670.58 lakhs, including ₹580.49 lakhs from a reduction in charges for two Tejas Express trains and ₹1,090.09 lakhs from excess provisions written back. The statutory auditor (N. K. Bhargava & Co.) issued an unmodified review opinion, but included an Emphasis of Matter paragraph highlighting ongoing sub-judice license fee disputes, GST input tax credit claims with Rail Neer plant operators, and the pending NAA profiteering notice of ₹5,041.44 lakhs. The company also noted a favorable Supreme Court ruling on November 7, 2025 in the long-running arbitration case, resulting in no financial impact on IRCTC.
The 175% interim dividend signals strong cash generation and a shareholder-friendly stance, likely to be viewed positively by the market. The Supreme Court win removes a major legal overhang from the arbitration matter. However, sub-judice license fee enhancements and the NAA notice remain contingent items that could materially impact future financials if resolved against the company.