TSC India Ltd
Incorporated in 2001, TSC India Ltd is
engaged in the business of sale of Air
tickets[1]
- Market Cap ₹ 56.6 Cr.
- Current Price ₹ 39.0
- High / Low ₹ 65.3 / 25.2
- Stock P/E 15.3
- Book Value ₹ 30.9
- Dividend Yield 0.00 %
- ROCE 12.8 %
- ROE 12.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- 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
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 | Mar 2026 | |
|---|---|---|---|---|---|
| 4.51 | 9.30 | 19.37 | 25.78 | 28.51 | |
| 2.15 | 7.03 | 12.41 | 18.05 | 21.82 | |
| Operating Profit | 2.36 | 2.27 | 6.96 | 7.73 | 6.69 |
| OPM % | 52.33% | 24.41% | 35.93% | 29.98% | 23.47% |
| 0.41 | 0.55 | 1.23 | 0.65 | 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 | 6.33 | 5.75 |
| Tax % | 44.23% | 30.18% | 25.20% | 27.01% | 23.83% |
| 0.29 | 1.19 | 4.72 | 4.62 | 4.38 | |
| EPS in Rs | 0.60 | 2.00 | 8.69 | 4.42 | 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: | -19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -38% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 25% |
| 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 | 25.53 | 18.79 | |
| 6.23 | 8.55 | 26.83 | 20.09 | 34.26 | |
| Total Liabilities | 14.55 | 26.16 | 53.33 | 61.45 | 97.95 |
| 1.03 | 2.96 | 2.51 | 1.99 | 8.90 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.02 | 0.88 |
| 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 | 97.95 |
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 | -11.77 | -6.99 | |
| -4.73 | -2.32 | 1.93 | -0.26 | -8.52 | |
| -3.32 | 7.79 | 3.64 | 9.92 | 14.15 | |
| Net Cash Flow | -4.38 | -0.17 | 5.39 | -2.11 | -1.37 |
| Free Cash Flow | 3.14 | -8.16 | -0.58 | -11.96 | -8.81 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 156% | -226% | 8% | -131% | -63% |
Ratios
Consolidated / 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 | 287.93 |
| ROCE % | 15.55% | 30.86% | 20.99% | 12.77% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Gross Transaction Value (GTV) ₹ Lakhs |
|
||||
| Number of Cities of Operation count |
|||||
| Number of Employees count |
|||||
| Take Rate (% of GTV) % |
|||||
| Top 5 Suppliers Contribution in GTV % |
|||||
| Total Bookings count |
|||||
| Total Travel Agents Registered count |
|||||
| Bookings per Day count |
|||||
Extracted by Screener AI
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026; no rematerialisation requests received.
-
Trading Window
- Trading window closes from 1 October 2026 for half-year unaudited results ending 30 September 2026.
-
Updates
- Managing Director-promoter bought 18,000 shares on 18 and 21 Sept 2026, raising holding to 31.76%.
-
Shareholders meeting
- 23rd AGM held on 21 Sep 2026; all nine resolutions passed with requisite majority.
-
Shareholders meeting
- TSC India held its 23rd AGM on 21 Sep 2026; no dividend recommended, voting results pending.
Business Overview:[1]
TSCIL is a Jalandhar based company which has grown from a regional air-ticketing consolidator into a technology-driven B2B travel management company with presence across key Indian markets. The company enables travel agents to access domestic and international airline inventories, manage bookings, receive credit support, generate invoices and handle transactions efficiently, through a single integrated platform