TSC India Ltd

₹ 27.4 5.19%

18 Jun - close price

About

TSC India Limited (formerly TSC Travel Services Ltd) is a B2B travel management company specializing in air ticketing services.^[1]

Key Points

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

Website NSE - SM

Market Cap ₹ 39.7 Cr.
Current Price ₹ 27.4
High / Low ₹ 79.3 / 25.2
Stock P/E 10.8
Book Value ₹ 30.9
Dividend Yield 0.00 %
ROCE 12.8 %
ROE 12.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.88 times its book value
Company has a good return on equity (ROE) track record: 3 Years ROE 25.8%

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.25.3 Cr.
Company might be capitalizing the interest cost
Company has high debtors of 419 days.
Working capital days have increased from 137 days to 288 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

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Detailed Comparison with:

Half Yearly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	12.00	13.78	15.70	12.81
	7.84	10.22	10.34	11.48
Operating Profit	4.16	3.56	5.36	1.33
OPM %	34.67%	25.83%	34.14%	10.38%
	0.15	0.51	0.24	0.87
Interest	0.60	0.75	0.75	0.75
Depreciation	0.34	0.36	0.24	0.30
Profit before tax	3.37	2.96	4.61	1.15
Tax %	25.22%	29.05%	25.60%	16.52%
	2.52	2.10	3.43	0.96
EPS in Rs	6.04	2.00	2.24	0.37
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4.51	9.30	19.37	25.78	28.51
	2.15	7.03	12.41	17.56	21.82
Operating Profit	2.36	2.27	6.96	8.22	6.69
OPM %	52.33%	24.41%	35.93%	31.89%	23.47%
	0.41	0.55	1.23	0.54	1.11
Interest	2.10	0.54	1.04	1.35	1.50
Depreciation	0.15	0.59	0.84	0.70	0.55
Profit before tax	0.52	1.69	6.31	6.71	5.75
Tax %	44.23%	30.18%	25.20%	26.68%	23.83%
	0.29	1.19	4.72	4.92	4.38
EPS in Rs	1.51	5.00	21.72	4.71	2.54
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	45%
TTM:	11%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	57%
TTM:	-24%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	%

Return on Equity
10 Years:	%
5 Years:	25%
3 Years:	26%
Last Year:	12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1.92	1.92	1.92	10.35	14.52
Reserves	1.65	2.61	6.82	5.48	30.38
	4.75	13.08	17.76	25.52	18.79
	6.23	8.55	26.83	20.10	34.25
Total Liabilities	14.55	26.16	53.33	61.45	97.94
	1.03	2.96	2.51	1.99	9.77
CWIP	0.00	0.00	0.00	0.02	0.00
Investments	0.00	0.00	0.00	0.00	0.01
	13.52	23.20	50.82	59.44	88.16
Total Assets	14.55	26.16	53.33	61.45	97.94

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3.67	-5.64	-0.19	-13.46	-6.99
	-4.73	-2.32	1.93	1.35	-9.62
	-3.32	7.79	3.64	10.00	14.15
Net Cash Flow	-4.38	-0.17	5.39	-2.11	-2.46
Free Cash Flow	3.14	-8.16	-0.58	-13.65	-8.81
CFO/OP	156%	-226%	8%	-144%	-63%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	415.18	331.25	562.67	428.15	419.15
Inventory Days
Days Payable
Cash Conversion Cycle	415.18	331.25	562.67	428.15	419.15
Working Capital Days	102.78	-90.27	-8.29	131.11	288.06
ROCE %		15.55%	30.86%	22.03%	12.77%

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

Top 5 Suppliers Contribution in GTV
% ・Standalone data

Total Bookings
Number of tickets ・Standalone data

Total Travel Agents / Customers Registered
Number ・Standalone data

Average GTV per Booking
INR ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2025	Mar 2026
	66.85%	64.68%
	0.17%	0.00%
	5.52%	2.42%
	27.45%	32.89%
No. of Shareholders	464	483

	Mar 2026
	64.68%
	2.42%
	32.89%
No. of Shareholders	483

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

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Annual reports

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DRHP

Concalls

Jun 2026

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Apr 2026

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AI Summary
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Aug 2025

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AI Summary
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