TSC India Ltd
Incorporated in 2001, TSC India Ltd is
engaged in the business of sale of Air
tickets[1]
- Market Cap ₹ 53.7 Cr.
- Current Price ₹ 37.0
- High / Low ₹ 62.0 / 25.2
- Stock P/E 43.7
- Book Value ₹ 31.4
- Dividend Yield 0.00 %
- ROCE 12.8 %
- ROE 12.2 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.18 times its book value
- 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
- Earnings include an other income of Rs.1.66 Cr.
- 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 | TTM | |
|---|---|---|---|---|---|---|
| 4.51 | 9.30 | 19.37 | 25.78 | 28.51 | 28.30 | |
| Sales growth | +106.21% | +108.28% | +33.09% | +10.59% | -4.00% | |
| 2.15 | 7.03 | 12.41 | 18.05 | 21.82 | 24.68 | |
| Operating Profit | 2.36 | 2.27 | 6.96 | 7.73 | 6.69 | 3.62 |
| OPM % | 52.33% | 24.41% | 35.93% | 29.98% | 23.47% | 12.79% |
| 0.41 | 0.55 | 1.23 | 0.65 | 1.11 | 1.66 | |
| Interest | 2.10 | 0.54 | 1.04 | 1.35 | 1.50 | 1.88 |
| Depreciation | 0.15 | 0.59 | 0.84 | 0.70 | 0.55 | 0.65 |
| Profit before tax | 0.52 | 1.69 | 6.31 | 6.33 | 5.75 | 2.75 |
| Tax % | 44.23% | 30.18% | 25.20% | 27.01% | 23.83% | |
| 0.29 | 1.19 | 4.72 | 4.62 | 4.38 | 2.09 | |
| EPS in Rs | 0.60 | 2.00 | 8.69 | 4.42 | 2.54 | 0.85 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 45% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 57% |
| TTM: | -76% |
| 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 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1.92 | 1.92 | 1.92 | 10.35 | 14.52 | 14.52 |
| Reserves | 1.65 | 2.61 | 6.82 | 5.48 | 30.38 | 31.08 |
| 4.75 | 13.08 | 17.76 | 25.53 | 18.79 | 35.54 | |
| 6.23 | 8.55 | 26.83 | 20.09 | 34.26 | 21.35 | |
| Total Liabilities | 14.55 | 26.16 | 53.33 | 61.45 | 97.95 | 102.49 |
| 1.03 | 2.96 | 2.51 | 1.99 | 8.90 | 10.05 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.02 | 0.88 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
| 13.52 | 23.20 | 50.82 | 59.44 | 88.16 | 92.43 | |
| Total Assets | 14.55 | 26.16 | 53.33 | 61.45 | 97.95 | 102.49 |
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 |
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| Number of Cities of Operation count |
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| Number of Employees count |
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| Take Rate (% of GTV) % |
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| Top 5 Suppliers Contribution in GTV % |
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| Total Bookings count |
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| Total Travel Agents Registered count |
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| Bookings per Day count |
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Extracted by Screener AI
Documents
Announcements
-
Statement of deviation(s) or variation(s) under Reg. 32
- Half-year ended 30 Sep 2026 statement shows no funds raised and no deviation.
-
Outcome of Board Meeting
- Board approved H1 FY2026-27 unaudited results and appointed Ashish Mahajan & Associates as internal auditor.
-
Change in Auditors
- Board approved H1 FY27 unaudited standalone and consolidated results; appointed Ashish Mahajan & Associates as internal auditor.
-
Outcome of Board Meeting
- TSC India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026; no rematerialisation requests received.
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