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 ₹ 52.6 Cr.
- Current Price ₹ 36.2
- High / Low ₹ 79.3 / 27.5
- Stock P/E 10.1
- Book Value ₹ 30.0
- Dividend Yield 0.00 %
- ROCE 22.0 %
- ROE 39.6 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 43.5%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Contingent liabilities of Rs.25.3 Cr.
- Company might be capitalizing the interest cost
- Company has high debtors of 428 days.
- Working capital days have increased from 10.8 days to 131 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 4.51 | 9.30 | 19.37 | 25.78 | 29.48 | |
| 2.15 | 7.03 | 12.41 | 17.56 | 20.56 | |
| Operating Profit | 2.36 | 2.27 | 6.96 | 8.22 | 8.92 |
| OPM % | 52.33% | 24.41% | 35.93% | 31.89% | 30.26% |
| 0.41 | 0.55 | 1.23 | 0.54 | 0.75 | |
| Interest | 2.10 | 0.54 | 1.04 | 1.35 | 1.50 |
| Depreciation | 0.15 | 0.59 | 0.84 | 0.70 | 0.60 |
| Profit before tax | 0.52 | 1.69 | 6.31 | 6.71 | 7.57 |
| Tax % | 44.23% | 30.18% | 25.20% | 26.68% | |
| 0.29 | 1.19 | 4.72 | 4.92 | 5.53 | |
| EPS in Rs | 1.51 | 5.00 | 21.72 | 4.71 | 4.24 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 79% |
| TTM: | 33% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 156% |
| TTM: | 17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| Last Year: | 40% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 1.92 | 1.92 | 1.92 | 10.35 | 14.05 |
| Reserves | 1.65 | 2.61 | 6.82 | 5.48 | 28.07 |
| 4.75 | 13.08 | 17.76 | 25.52 | 26.42 | |
| 6.23 | 8.55 | 26.83 | 20.10 | 21.09 | |
| Total Liabilities | 14.55 | 26.16 | 53.33 | 61.45 | 89.63 |
| 1.03 | 2.96 | 2.51 | 1.99 | 2.05 | |
| CWIP | -0.00 | -0.00 | -0.00 | 0.02 | -0.00 |
| Investments | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| 13.52 | 23.20 | 50.82 | 59.44 | 87.58 | |
| Total Assets | 14.55 | 26.16 | 53.33 | 61.45 | 89.63 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 3.67 | -5.64 | -0.19 | -13.46 | |
| -4.73 | -2.32 | 1.93 | 1.35 | |
| -3.32 | 7.79 | 3.64 | 10.00 | |
| Net Cash Flow | -4.38 | -0.17 | 5.39 | -2.11 |
| Free Cash Flow | 3.14 | -8.16 | -0.58 | -13.65 |
| CFO/OP | 156% | -226% | 8% | -144% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 415.18 | 331.25 | 562.67 | 428.15 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 415.18 | 331.25 | 562.67 | 428.15 |
| Working Capital Days | 102.78 | -90.27 | -8.29 | 131.11 |
| ROCE % | 15.55% | 30.86% | 22.03% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Gross Transaction Value (GTV) INR Lakhs ・Standalone data |
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| Take Rate Percentage % ・Standalone data |
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| Top 5 Suppliers Contribution in GTV % ・Standalone data |
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| Total Bookings Number of tickets ・Standalone data |
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| Total Travel Agents / Customers Registered Number ・Standalone data |
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| Average GTV per Booking INR ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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General Updates
15 April 2026 - Company replied to NSE price movement query, stating no price-sensitive event exists.
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Updates
10 April 2026 - April 2026 investor presentation highlights H1 FY26 revenue of ₹13.44 crore, GTV ₹56,365 lakh, and expansion plans.
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Price movement
9 April 2026 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
6 April 2026 - Submitted Regulation 74(5) certificate for quarter ended 31 March 2026; no rematerialisation/dematerialisation requests.
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Trading Window
23 March 2026 - Trading window closed from April 1, 2026 until 48 hours after audited results for year/half ended March 31, 2026.
Business Profile[1]
It 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