TSC India Ltd
TSC India Limited (formerly TSC Travel Services Ltd) is a B2B travel management company specializing in air ticketing services.[1]
- Market Cap ₹ 39.7 Cr.
- Current Price ₹ 27.4
- High / Low ₹ 79.3 / 25.2
- Stock P/E 12.2
- Book Value ₹ 30.7
- Dividend Yield 0.00 %
- ROCE 13.6 %
- ROE 10.9 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.89 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.17%
- Contingent liabilities of Rs.25.0 Cr.
- Company has high debtors of 565 days.
- Company's cost of borrowing seems high
- Working capital days have increased from 115 days to 325 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Services Leisure Services Tour, Travel Related Services
Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 18.63 | 24.05 | 23.36 | |
| 12.04 | 16.63 | 18.16 | |
| Operating Profit | 6.59 | 7.42 | 5.20 |
| OPM % | 35.37% | 30.85% | 22.26% |
| 0.51 | 0.60 | 0.75 | |
| Interest | 1.03 | 1.26 | 1.27 |
| Depreciation | 0.94 | 0.62 | 0.47 |
| Profit before tax | 5.13 | 6.14 | 4.21 |
| Tax % | 24.37% | 26.22% | 22.80% |
| 3.88 | 4.53 | 3.25 | |
| EPS in Rs | 20.21 | 4.38 | 2.24 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -28% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Equity Capital | 1.92 | 10.35 | 14.52 |
| Reserves | 6.57 | 4.89 | 30.10 |
| 16.97 | 15.56 | 4.92 | |
| 23.91 | 16.46 | 26.48 | |
| Total Liabilities | 49.37 | 47.26 | 76.02 |
| 2.24 | 1.82 | 3.06 | |
| CWIP | 0.00 | 0.00 | 0.00 |
| Investments | 0.80 | 1.60 | 4.89 |
| 46.33 | 43.84 | 68.07 | |
| Total Assets | 49.37 | 47.26 | 76.02 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 0.32 | -3.70 | -1.63 | |
| 1.45 | -0.97 | -9.78 | |
| 3.73 | -0.38 | 11.24 | |
| Net Cash Flow | 5.50 | -5.04 | -0.17 |
| Free Cash Flow | 0.09 | -3.80 | -3.34 |
| CFO/OP | 23% | -32% | 18% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Debtor Days | 584.82 | 458.94 | 564.69 |
| Inventory Days | |||
| Days Payable | |||
| Cash Conversion Cycle | 584.82 | 458.94 | 564.69 |
| Working Capital Days | -82.29 | 103.66 | 324.53 |
| ROCE % | 26.31% | 13.64% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Gross Transaction Value (GTV) INR Lakhs |
|
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| Take Rate Percentage % |
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| Top 5 Suppliers Contribution in GTV % |
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| Total Bookings Number of tickets |
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| Total Travel Agents / Customers Registered Number |
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| Average GTV per Booking INR |
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Extracted by Screener AI
Documents
Announcements
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Press Release
18 June 2026 - TSC India enters hotels and visa services; acquires GITHM Pvt. Ltd., already contributing revenue.
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Updates
8 June 2026 - TSC India released FY26 investor presentation, reporting revenue ₹28.51 crore, PAT ₹4.38 crore and GTV ₹10.63 crore.
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Press Release
30 May 2026 - Audited H2/FY26 results: FY26 revenue 2,851, PAT 438.08, GTV 1,06,336.
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Statement of deviation(s) or variation(s) under Reg. 32
30 May 2026 - TSC India reported no deviation in IPO proceeds for H1 FY26; noted 4,70,933-share preferential allotment for GITHM acquisition.
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Outcome of Board Meeting
30 May 2026 - Board approved audited standalone and consolidated FY26 results; auditors issued unmodified opinion.
Business Profile:[1]
The company operates in collaboration
with airlines, travel agents, and GDS
platforms, providing:
a) Domestic & international flight
bookings
b) Corporate itinerary management
c) Analytical travel reporting
d) End-to-end booking support
e) Consulting and negotiation
for travel deals