TBOTEK

TBO Tek Limited

B2B travel distribution platform for airline, hotel and ancillary inventory

Consumer Discretionary›Consumer Services›Leisure Services›Tour, Travel Related Services

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Key metrics

Price as of 2026-10-16

Stock price
₹1627.50
Market cap
17,673 Cr
Stock P/E
66.8
P/B
11.40
ROE (FY26)
15.8%
ROCE (FY26)
15.3%
Operating margin (FY26)
10.6%
Debt / equity (FY26)
0.42
OCF / EBITDA (FY26)
12.6%
OCF / EBITDA (3Y)
37.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

TBO (TBO Tek) runs a global travel platform that sells airline tickets and hotel and ancillary travel products to travel buyers in India and international source markets.

Company snapshot

2ndBy market cap

Ranked among 8 companies in Tour, Travel Related Services.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 79.9% of revenue

SegmentRevenue shareRevenuePBTAssets
Air ticketing
17.4%
74 Cr35 Cr0 Cr
Hotels and packages
79.9%
337 Cr251 Cr0 Cr
Others
2.6%
11 Cr10 Cr0 Cr

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricMar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales369 Cr418 Cr451 Cr422 Cr446 Cr511 Cr568 Cr784 Cr814 Cr926 Cr
Operating expenses (approx.)303 Cr340 Cr368 Cr367 Cr381 Cr437 Cr479 Cr684 Cr709 Cr788 Cr
EBITDA66 Cr79 Cr83 Cr55 Cr65 Cr74 Cr88 Cr100 Cr105 Cr138 Cr
OPM %17.8%18.8%18.4%13.1%14.5%14.5%15.5%12.8%12.9%14.9%
Other income7 Cr15 Cr7 Cr17 Cr16 Cr13 Cr15 Cr12 Cr13 Cr13 Cr
Interest4 Cr6 Cr6 Cr6 Cr5 Cr5 Cr9 Cr15 Cr15 Cr15 Cr
Depreciation15 Cr12 Cr13 Cr13 Cr14 Cr14 Cr16 Cr26 Cr30 Cr33 Cr
Profit before tax53 Cr76 Cr71 Cr57 Cr71 Cr75 Cr78 Cr66 Cr74 Cr103 Cr
Tax %12.9%19.3%15.7%12.2%16.8%16.4%13.7%18.8%18.4%19.3%
Net profit46 Cr61 Cr60 Cr50 Cr59 Cr63 Cr68 Cr54 Cr60 Cr83 Cr
EPS (₹)₹4.58₹5.85₹5.71₹4.70₹5.54₹5.90₹6.32₹5.03₹5.62₹7.77

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales142 Cr483 Cr1,065 Cr1,393 Cr1,737 Cr2,677 CrSign in free for the trailing twelve months
Operating expenses (approx.)164 Cr451 Cr883 Cr1,135 Cr1,462 Cr2,308 CrSign in free for the trailing twelve months
EBITDA-23 Cr32 Cr182 Cr258 Cr275 Cr370 CrSign in free for the trailing twelve months
OPM %-16.0%6.6%17.1%18.5%15.8%13.8%Sign in free for the trailing twelve months
Other income35 Cr29 Cr21 Cr23 Cr62 Cr51 CrSign in free for the trailing twelve months
Interest1 Cr4 Cr7 Cr11 Cr23 Cr44 CrSign in free for the trailing twelve months
Depreciation11 Cr16 Cr25 Cr36 Cr52 Cr86 CrSign in free for the trailing twelve months
Profit before tax-30 Cr46 Cr174 Cr227 Cr275 Cr293 CrSign in free for the trailing twelve months
Tax %-15.6%26.8%14.8%11.6%16.3%16.7%Sign in free for the trailing twelve months
Net profit-34 Cr34 Cr148 Cr201 Cr230 Cr244 CrSign in free for the trailing twelve months
EPS (₹)₹-3.28₹3.32₹14.21₹19.85₹21.73₹22.88Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital2 Cr10 Cr10 Cr10 Cr11 Cr11 Cr
Reserves202 Cr221 Cr330 Cr534 Cr1,184 Cr1,540 Cr
Borrowings—3 Cr6 Cr135 Cr136 Cr645 Cr
Other liabilities372 Cr1,037 Cr2,214 Cr4,178 Cr4,883 Cr7,113 Cr
Total liabilities576 Cr1,271 Cr2,558 Cr4,857 Cr6,214 Cr9,309 Cr
Fixed assets (net)2 Cr6 Cr10 Cr80 Cr78 Cr114 Cr
CWIP0.06 Cr0.17 Cr—0 Cr0 Cr0 Cr
Investments0.15 Cr0.17 Cr0.24 Cr2 Cr173 Cr263 Cr
Loans & advances———1 Cr2 Cr3 Cr
Trade receivables120 Cr531 Cr1,566 Cr3,307 Cr4,061 Cr5,314 Cr
Cash & bank269 Cr425 Cr563 Cr751 Cr962 Cr1,022 Cr
Other assets185 Cr309 Cr419 Cr716 Cr939 Cr2,592 Cr
Total assets576 Cr1,271 Cr2,558 Cr4,857 Cr6,214 Cr9,309 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity51 Cr198 Cr237 Cr222 Cr68 Cr46 Cr
Cash from investing-27 Cr-31 Cr-106 Cr-153 Cr-220 Cr-485 Cr
Cash from financing-5 Cr-16 Cr-14 Cr115 Cr365 Cr441 Cr
Net cash flow19 Cr152 Cr117 Cr188 Cr210 Cr60 Cr
Free cash flow (OCF − Capex)43 Cr190 Cr230 Cr183 Cr15 Cr-20 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-13.9%21.1%52.8%34.9%22.4%15.3%
ROE %-16.7%14.5%42.8%37.1%19.2%15.8%
Debtor days309400535867851722
Inventory days———000
Days payable445548616944905737
Cash conversion cycle-136-148-81-78-54-15
OCF / EBITDA %—619.1%130.5%85.9%24.7%12.6%
OCF / EBITDA % (3 years)——254.3%139.2%73.7%37.2%
Debt / equity—0.010.020.250.110.42
Current ratio1.511.201.121.101.201.08
Net debt / EBITDA—-13.18-3.06-2.39-3.00-1.02