Operates four businesses serving Indian Railways: serves food on trains through Catering, runs the online reserved train ticket booking platform, sells rail-based tour packages under Tourism, and sells packaged drinking water under the Rail Neer brand. In FY26, total revenue was Rs 5,214.86 crore, with Catering the largest segment at Rs 2,398.75 crore (45.8% of segment revenue), followed by Internet Ticketing at Rs 1,535.51 crore (29.3%), Tourism at Rs 890.08 crore (17.0%), and Rail Neer at Rs 407.51 crore (7.8%). Internet Ticketing is the profit engine — it produced Rs 1,267.92 crore of segment EBIT on Rs 1,535.51 crore of revenue, and the company handles 89% of reserved railway tickets booked online. Catering, where food is served to train passengers, generated Rs 2,398.75 crore in revenue but only Rs 249.90 crore in EBIT; Tourism covers packaged rail tours at Rs 890.08 crore of revenue with Rs 127.50 crore EBIT; Rail Neer sells packaged drinking water at Rs 407.51 crore of revenue with Rs 55.66 crore EBIT. The standalone cost structure is dominated by other operating expenses at 57.0% of revenue, with employee cost at 6.2% and materials only 1.4%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Catering (46%), Internet Ticketing (29%), Tourism (17%), Railneer (8%). Asset-light services tied to Indian Railways; mix of high-margin internet ticketing and lower-margin catering, tourism and packaged water.
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 4,270 | 4,675 | 5,215 |
| EBITDA (ex other income) | 1,407 | 1,598 | 1,683 |
| margin % | 33.0 | 34.2 | 32.3 |
| Owners' profit | 0 | 0 | 0 |
| EPS, as reported (₹) | 13.89 | 16.44 | 17.42 |
| ROE % · ROCE % | 34.4 · 43.8 | 35.9 · 44.4 | 32.3 · 41.1 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 |
| Cash from operations | 882 | 810 | 1,273 |
| Capex | (232) | (48) | (78) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,064 | 1,225 | 1,269 | 1,160 | 1,146 | 1,449 | 1,460 | 1,370 |
| Profit before tax | 417 | 457 | 472 | 442 | 457 | 529 | 447 | 442 |
| Net profit | 308 | 341 | 358 | 331 | 342 | 394 | 326 | 330 |
| EPS (₹) | 3.85 | 4.26 | 4.48 | 4.13 | 4.28 | 4.93 | 4.08 | 4.13 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Catering | 2,399 | 45.8 |
| Railneer | 305 | 5.8 |
| Internet Ticketing | 1,135 | 21.7 |
| Tourism | 890 | 17.0 |
| Rail Neer | 103 | 2.0 |
| Interent Ticketing | 401 | 7.7 |
| Total, before eliminations | 5,232 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Nangia and Co LLP appointed as statutory auditor for FY 2026-27 | management changes | medium | — | — |
| 8 Sept 2026 · IRCTC 27th AGM on Sep 29, final dividend Rs 3 per share | compliance | minimal | — | — |
| 7 Sept 2026 · IRCTC files BRSR for FY 2025-26 with reasonable assurance | compliance | low | — | — |
| 7 Sept 2026 · IRCTC files Annual Report for FY 2025-26, posts highest-ever revenue | general | medium | — | — |
| 7 Sept 2026 · IRCTC 27th AGM on Sept 29, 2026; final dividend C0.50, Navratna upgrade, director changes | board shareholder meetings | low | — | — |
| 6 Sept 2026 · IRCTC informs exchanges about newspaper publication for 27th AGM | compliance | minimal | — | — |
| 6 Sept 2026 · IRCTC files newspaper publication of notice for 27th AGM | compliance | minimal | — | — |
| 5 Sept 2026 · IRCTC fixes Sep 22 record date for 50 paise final dividend FY26, TDS details shared | corporate actions | high | — | — |
| 5 Sept 2026 · IRCTC fixes Sep 22, 2026 as record date for FY26 final dividend | corporate actions | medium | — | — |
| 5 Sept 2026 · IRCTC announces 27th AGM on Sep 29, 2026; record date Sep 22 for dividend | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| INDIAN RAIL TOUR CORP LTD ◆ |
| 37,096 |
| 26.6 |
| 8.61 |
| 18.9 |
| 32.3 |
| 40.8 |
| — |
| 33.5 |
| TBO TEK LIMITED | 18,252 | 67.9 | 11.77 | 42.2 | 15.8 | 13.1 | — | 16.3 |
| BLS INTL SERVS LTD | 9,553 | 13.5 | 3.43 | 10.2 | 26.0 | 25.4 | 44.4 | 30.9 |
| LE TRAVENUES TECHNOLOGY L | 6,963 | 81.4 | 3.40 | 56.6 | 3.5 | 4.7 | — | 15.0 |
| THOMAS COOK (INDIA) LTD | 5,038 | 22.8 | 2.00 | 7.5 | 8.7 | 9.3 | 60.2 | 7.4 |
| EASY TRIP PLANNERS LTD | 2,323 | 22.4 | 2.85 | — | (5.8) | (5.4) | 38.1 | (4.7) |
| YATRA ONLINE LIMITED | 1,814 | 58.4 | 2.18 | 17.7 | 5.6 | 5.5 | — | 8.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.6 | 26.6 | 46 of 91 | 50% |
| P/B | 8.6 | 2.0 | 72 of 83 | 13% |
| ROCE | 40.8 | 5.4 | 5 of 101 | 96% |
| ROE | 32.3 | 5.8 | 6 of 87 | 94% |
| Debt / Equity | 0.0 | 0.1 | 5 of 87 | 79% |
| EBITDA margin | 33.5 | 23.4 | 28 of 85 | 68% |
| Revenue growth | 18.1 | 12.1 | 31 of 89 | 66% |
| Profit growth | (0.2) | 17.5 | 47 of 83 | 44% |
| Market cap | 37096 | 388 | 2 of 103 | 99% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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