NSE: THOMASCOOK · BSE: 500413 · ISIN INE332A01027
Thomas Cook (India) Limited stock analysis
Thomas Cook (India) Limited ranks #1576 in the TickerSutra evidence-ranked universe with a score of 52/100 and 95% data confidence. The latest captured fundamentals show ROCE of 14.9%, quarterly sales growth of -13.1% and quarterly profit growth of -0.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.21×
- Strong CFO/EBITDA of 1.5×
- 18.5% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- No calculated threshold risk in the current snapshot.
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,888cr | ₹-187cr | ₹-254cr | -10.0% |
| 2023 | ₹5,048cr | ₹178cr | ₹10cr | 3.5% |
| 2024 | ₹7,299cr | ₹437cr | ₹271cr | 6.0% |
| 2025 | ₹8,140cr | ₹478cr | ₹258cr | 6.0% |
| 2026 | ₹8,398cr | ₹428cr | ₹220cr | 5.0% |
| TTM | ₹8,082cr | ₹394cr | ₹211cr | 4.9% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Thomas Cook (India) Limited has informed the Exchange regarding Press Release of M/s. Sterling Holiday Resorts Limited, wholly owned subsidiary of M/s. Thomas Cook (India) Limited dated September 29, 2026 titled, Sterling Deepens Spiritual Tourism Strategy with Entry into Varanasi .
RoutineThomas Cook (India) Ltd - 500413 - Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseBSE · 29 Sept 2026We are enclosing herewith the Press Release of M/s. Sterling Holidays Resorts Limited, wholly owned subsidiary of M/s. Thomas Cook (India) Limited dated September 29, 2026 titled, "Sterling ....
RoutinePress ReleaseNSE · 28 Sept 2026Thomas Cook (India) Limited has informed the Exchange regarding Press Release of M/s. Sterling Holiday Resorts Limited, wholly owned subsidiary of M/s. Thomas Cook (India) Limited dated September 28, 2026 titled, Beyond The Taj: Sterling Regalia A New Landmark in Agra .
RoutineThomas Cook (India) Ltd - 500413 - Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseBSE · 28 Sept 2026We are enclosing herewith the Press Release of M/s. Sterling Holiday Resorts Limited, wholly owned subsidiary of M/s. Thomas Cook (India) Limited dated September 28, 2026 titled, "Beyond ....
RoutineThomas Cook (India) Ltd - 500413 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 22 Sept 2026We enclose herewith the details of Analyst/Institutional Investor meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
MANAGEMENT COMMENTARY
Signals from filed documents
The company’s business remained predominantly B2C, contributing ~95% of sales through three retail stores, a call centre and its website, while the balance was generated through third-party B2B channels. Intensifying competition from mass-market operators and players replicating premium itineraries at lower price points increased pricing pressure and affected customer retention, while higher airfares and land costs w
ICRA estimates industry revenues grew by ~11% in FY 2025-26. Premium hotel occupancy remained healthy at 72–74%, while Average Room Rates (ARRs) increased to `8,200–8,500, supporting strong operating leverage and profitability. ICRA estimates operating margins for its sample of large premium hotel companies at around 37%, well above pre-pandemic levels.
Against this backdrop, our Travel business delivered a 4% increase in total revenue during the year. EBIT, however, was impacted by the heightened geopolitical environment, particularly the disruption across key international markets and the resulting pressure on travel flows and operating costs. The underlying strength of our diversified portfolio, with growth across short-haul, domestic, Corporate Travel, MICE and
Service across Our Businesses Business Segment 01 03 02 04 Financial Services Digital Imaging Solutions Travel & Related Services Leisure Hospitality Retail and wholesale foreign exchange Multi-currency prepaid cards Outward remittances Travel insurance Forex advisory End-to-end imaging services across global tourist destinations Leisure holidays Corporate travel MICE Destination management services Spiritual tourism
Transactions through TC Pay grew more than three-fold during the year, while forex transactions through WhatsApp increased 2.6 times and website transactions grew by 8%, demonstrating the growing adoption of our digital sales & service channels. Thus, by turning a traditional service into a highly digital ecosystem, our retail forex business achieved a 21.2% digital penetration rate and maintained its market leadersh
with regarding our Travel segment, if I look at the past 2 years, we've grown cumulatively, between FY24 and FY26, by 20%. And I think a lot of that would be due to price increases not necessarily long-haul or short-haul, but just the price increases of the end packages that we are providing. But our margins have declined at the same rate.
These initiatives expanded audience reach, increased digital engagement and supported customer retention and early bookings. Looking ahead, the company will continue to strengthen its premium positioning through differentiated products, immersive digital and virtual tour content, deeper strategic partnerships and expansion into new markets, 196 while maintaining its customer-first, all-inclusive proposition. Through
Rising purchasing power and greater discretionary spending are expected to support higher spending on leisure, experiences and travel. Infrastructure development is improving accessibility India’s operational airport network has expanded from 74 airports in 2014 to more than 160 in 2025, supported by new terminals, greenfield airports and modernisation of existing 191 facilities. The Airports Authority of India plans
Together, these developments are contributing to a more flexible and accessible foreign exchange ecosystem. Increasing cross- border activity, strong remittance flows, greater corporate use of hedging instruments and a more liberalised regulatory framework are expected to support continued expansion of India’s forex market, while technology-led platforms continue to improve transaction efficiency and accessibility. G
Pravir Kumar Vohra (DIN: 00082545) has completed his second term of five (5) consecutive years as an Independent Director of the Company and accordingly ceased to be the Director of the Company with effect from the close of business hours of April 9, 2025. Madhavan Menon (DIN: 00008542) retired from the position of Executive Chairman with effect from May 31, 2025 and was re-designated as Non-Executive Chairman (in th
• The quarterly, half yearly and annual financial results are also available on the Company’s website viz www.thomascook.in • All the official news releases and presentations on significant developments in the Company are hosted on Company’s website and provided to the Stock Exchanges and the press simultaneously. • The Company ensures necessary updation of details pertaining to calls or presentations to institutiona
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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