TFS Q1 FY27: Sales up 18% YoY, PAT up 35.6%, EBITDA margin moderates to 35.8%
TRAVELFOOD · price
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Travel Food Services reported Q1 FY27 consolidated revenue of INR4.5 billion (+20.6% YoY), system-wide sales of INR8.4 billion (+18% YoY), and PAT of INR1.3 billion (+35.6% YoY). EBITDA margin moderated to 35.8% from higher employee and pre-operating costs at new airports (Noida, Cochin, Delhi). LFL growth was 0.8% system-wide and 4.2% consolidated. Company remains debt-free with INR9.7 billion cash. 50+ outlets under development. New Noida operations began; Bhogapuram opens Aug 17. Passenger traffic flat due to Middle East conflict.
Strong profit growth despite traffic headwinds. EBITDA margin under pressure from new airport ramp-up, expected to normalize in 12-18 months. Strong cash position supports expansion.