Indian Railway Catering & Tourism Corporation Ltd

IRCTC

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Market Cap

₹ 53,696 Cr

P/E

40.14

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Indian Railway Catering and Tourism Corporation Limited (IRCTC) is a central public sector enterprise under the Ministry of Railways, India, focusing on catering, tourism, and internet ticketing services.

IRCTC reported Rs. 1,209 crores in revenue for Q2 FY'26 with a 7.5% year-on-year growth. Profit after tax reached Rs. 342 crores, showcasing a robust 11% growth from the previous year, driven by efficiency in internet ticketing and tourism services.

IRCTC is exploring transformative business expansions, including the launch of a unified travel portal and the launch of its payments aggregator business after receiving an RBI approval. These initiatives aim to broaden customer reach and service scope.

Investment in the Rail Neer packaged water segment is notable, with plant expansion and new plant commissioning aimed at fully meeting growing demand at railway premises. This move exemplifies IRCTC’s focus on capacity expansion and operational scalability.

The company holds a dominant online ticketing position with 89.24% of railway tickets being booked through its digital platform, reflecting its technological prowess and market dominance.

Sector

Railways

Industry

Travel Agencies

Market Cap

53,696 Cr

Volatility

High Risk

P/E Ratio

40.1

Industry P/E

47.7

PEG Ratio

3.2

P/B Ratio

12.6

52W High

842.40

52W Low

655.70

Sales CAGR

9.73%

35.51%

15.60%

10Y

14.50%

Profit CAGR

18.34%

25.85%

20.70%

10Y

24.08%

ROE

TTM

32.20%

36.62%

33.69%

10Y

32.99%

ROCE

TTM

41.48%

45.88%

42.02%

10Y

41.83%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

14

1Y Price Target

835.53 ▲ 25.03%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
IRCTC	671.20	53,696 Cr	40.14	12.60	1.19	32.20	41.48	17.98
TBOTEK	1699.55	18,455 Cr	82.99	13.32	0.00	17.27	14.42	3.29
IXIGO	248.35	10,845 Cr	225.77	5.48	0.00	7.03	9.88	4.83
THOMASCOOK	146.30	6,856 Cr	28.47	3.88	0.31	10.69	14.12	3.39
YATRA	178.30	2,822 Cr	50.81	3.47	0.00	6.82	7.76	4.26
EASEMYTRIP	7.65	2,782 Cr	47.81	3.22	0.00	6.68	7.20	0.96
INTLTRAVHS	385.50	308 Cr	11.71	1.77	1.43	15.09	20.29	10.79

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,002	992	1,118	1,155	1,118	1,064	1,225	1,269	1,160	1,146
Expenses	659	626	724	792	743	691	808	883	762	742
Operating Profit	343	367	394	362	375	373	417	385	397	404
OPM %	34.24	36.94	35.23	31.39	33.55	35.04	34.02	30.39	34.26	35.27
Other Income	-13	47	31	41	54	60	57	107	61	69
Interest	4.13	4.42	4.75	5.35	2.82	3.08	3.22	7.77	4.46	4.39
Depreciation	14	14	14	16	14	13	13	12	12	11
Profit Before Tax	312	395	406	382	412	417	457	472	442	457
Tax %	25.68	25.44	26.17	25.61	25.28	26.10	25.29	24.15	25.20	25.19
Net Profit	232	295	300	284	308	308	341	358	331	342
EPS in Rs	2.90	0.00	3.75	3.55	3.85	3.85	4.26	4.48	4.13	4.28

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,541	4,270	4,675	4,717
Expenses	2,265	2,804	3,125	3,145
Operating Profit	1,276	1,466	1,550	1,572
OPM %	36.04	34.33	33.15	33.33
Other Income	148	106	277	285
Interest	16	19	17	19
Depreciation	54	57	53	51
Profit Before Tax	1,354	1,496	1,757	1,788
Tax %	25.71	25.73	25.17	25.16
Net Profit	1,006	1,111	1,315	1,338
EPS in Rs	—	10.20	16.44	17.15
Dividend Payout %	51.71	46.80	48.66	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025
Equity Capital	160	160	160
Reserves	2,318	3,070	3,503
Borrowings	84	60	90
Other Liabilities	2,526	2,801	3,046
Total Liabilities	5,089	6,091	6,799
Fixed Assets	324	317	788
CWIP	34	443	27
Investments	27	26	26
Other Assets	4,704	5,306	5,959
Total Assets	5,089	6,091	6,799

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	812	882	833
Cash from Investing Activity	-317	-200	-252
Cash from Financing Activity	-434	-404	-910
Net Cash Flow	61	277	-329

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%	62.40%
FIIs	6.84%	6.53%	6.99%	7.10%	7.34%	8.08%	7.78%	7.54%	7.45%	7.37%	7.28%	7.27%
DIIs	8.73%	10.05%	9.94%	10.54%	11.99%	12.73%	13.76%	13.93%	13.72%	13.89%	14.16%	14.18%
Public	22.03%	21.02%	20.68%	19.96%	18.28%	16.79%	16.06%	16.14%	16.43%	16.35%	16.17%	16.15%
Total Shareholders	21,61,327	21,28,348	20,80,264	20,26,798	19,28,851	19,10,307	19,28,716	19,24,346	19,59,521	19,94,642	19,58,669	19,25,770

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 19, 2023	Graviton research capital llp	Bulk	Sell	889.46	379.83 Cr	42,70,398	0.53
Dec 19, 2023	Graviton research capital llp	Bulk	Buy	889.40	372.81 Cr	41,91,648	0.52
Dec 19, 2022	The president of india acting...	Insider - Promoter	Disposal	681.72	2,726.87 Cr	4,00,00,000	5.00

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Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY21

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Overview

Detailed Summary

The company holds a dominant online ticketing position with 89.24% of railway tickets being booked through its digital platform, reflecting its technological prowess and market dominance.

Sector

Railways

Industry

Travel Agencies

Market Cap

53,696 Cr

Volatility

High Risk

P/E Ratio

40.1

Industry P/E

47.7

PEG Ratio

3.2

P/B Ratio

12.6

52W High

842.40

52W Low

655.70

Sales CAGR

9.73%

35.51%

15.60%

10Y

14.50%

Profit CAGR

18.34%

25.85%

20.70%

10Y

24.08%

ROE

TTM

32.20%

36.62%

33.69%

10Y

32.99%

ROCE

TTM

41.48%

45.88%

42.02%

10Y

41.83%