Indian Railway Catering & Tourism Corp. Ltd. (IN:IRCTC)
:IRCTC
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Indian Railway Catering & Tourism Corp. Ltd.
(IRCTC)
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Rating:69Neutral
Price Target:
₹573.00
▼(-14.87% Downside)
Action:Reiterated
Date:05/28/26
The score is primarily supported by strong financial performance (high profitability, steady growth, and very low leverage). It is tempered by weak technicals (price below key moving averages and negative MACD) and a valuation that is only moderately attractive given a ~28.4 P/E despite a ~1.82% dividend yield.
Positive Factors
Cash generation
Consistent free cash flow growth and a strong operating-cash-to-net-income ratio indicate durable internal funding for operations, capex and shareholder returns. This reduces reliance on external financing and supports reinvestment into digital platforms and service expansion over the medium term.
Negative Factors
Policy & regulatory dependence
Significant dependence on Indian Railways and government policy creates structural regulatory risk: fee-setting, contract scope or service mandates can be changed, constraining pricing power and margins and potentially altering long-term revenue mechanics irrespective of operational execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent free cash flow growth and a strong operating-cash-to-net-income ratio indicate durable internal funding for operations, capex and shareholder returns. This reduces reliance on external financing and supports reinvestment into digital platforms and service expansion over the medium term.
Read all positive factors
Indian Railway Catering & Tourism Corp. Ltd. (IRCTC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹415.64B
Dividend Yield1.32%
Average Volume (3M)76.22K
Price to Earnings (P/E)30.1
Beta (1Y)1.27
Revenue Growth11.49%
EPS Growth5.97%
CountryIN
Employees1,407
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)17.15
Shares Outstanding800,000,000
10 Day Avg. Volume77,850
30 Day Avg. Volume76,220
Financial Highlights & Ratios
PEG Ratio4.76
Price to Book (P/B)9.18
Price to Sales (P/S)7.59
P/FCF Ratio29.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹712.00Price Target Upside5.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)19.72
Revenue Forecast (FY)₹56.93B
Indian Railway Catering & Tourism Corp. Ltd. Business Overview & Revenue Model
Company Description
Established in New Delhi, India in 1999, Indian Railway Catering & Tourism Corporation Limited (IRCTC) operates as a leading provider of diverse services across the nation. Its core business encompasses catering and hospitality, online ticket rese...
How the Company Makes Money
IRCTC earns revenue primarily by providing services to rail passengers and travelers across several business lines:
1) Rail-based online ticketing (Internet Ticketing)
- Service/convenience fees: IRCTC operates the Indian Railways online ticketin...
Indian Railway Catering & Tourism Corp. Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.98B | 52.15B | 46.74B | 42.60B | 35.41B | 18.78B |
| Gross Profit | 17.78B | 18.61B | 17.32B | 16.13B | 14.07B | 9.60B |
| EBITDA | 18.97B | 19.43B | 18.26B | 15.72B | 14.24B | 9.45B |
| Net Income | 13.72B | 13.93B | 13.15B | 11.11B | 10.06B | 6.60B |
Balance Sheet | ||||||
| Total Assets | 76.31B | 75.80B | 68.00B | 60.91B | 50.89B | 38.84B |
| Cash, Cash Equivalents and Short-Term Investments | 33.36B | 32.13B | 26.57B | 22.76B | 19.30B | 17.30B |
| Total Debt | 782.24M | 807.26M | 897.96M | 603.50M | 841.62M | 1.05B |
| Total Liabilities | 33.71B | 32.71B | 31.37B | 28.61B | 26.10B | 20.14B |
| Stockholders Equity | 42.61B | 43.09B | 36.63B | 32.30B | 24.78B | 18.70B |
Cash Flow | ||||||
| Free Cash Flow | 8.07B | 13.48B | 7.62B | 6.50B | 7.43B | 5.02B |
| Operating Cash Flow | 8.34B | 14.26B | 8.10B | 8.82B | 8.12B | 5.24B |
| Investing Cash Flow | -5.18B | -5.99B | -2.29B | -2.00B | -3.17B | -2.42B |
| Financing Cash Flow | -903.58M | -7.87B | -9.10B | -4.04B | -4.34B | -2.58B |
Indian Railway Catering & Tourism Corp. Ltd. Technical Analysis
Negative
673.05
Price Trends
537.08
Negative
556.59
Negative
622.91
Negative
Market Momentum
-4.41
Negative
45.53
Neutral
54.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IRCTC, the sentiment is Negative. The current price of 673.05 is above the 20-day moving average (MA) of 521.45, above the 50-day MA of 537.08, and above the 200-day MA of 622.91, indicating a bearish trend. The MACD of -4.41 indicates Negative momentum. The RSI at 45.53 is Neutral, neither overbought nor oversold. The STOCH value of 54.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IRCTC.
Indian Railway Catering & Tourism Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹31.16B | 11.33 | ― | 4.74% | 8.00% | 4.05% | |
71 Outperform | ₹110.12B | 15.99 | ― | 0.31% | 36.70% | 35.14% | |
69 Neutral | ₹415.64B | 30.08 | ― | 1.32% | 11.49% | 5.97% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ₹72.58B | 15.80 | ― | 0.94% | 9.46% | 11.60% | |
61 Neutral | ₹42.06B | 17.87 | ― | 2.79% | 1.90% | 29.42% | |
39 Underperform | ₹19.27B | -2.44 | ― | ― | -14.50% | -239.75% |
* Industrials Sector Average
IN:IRCTC
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Indian Railway Catering & Tourism Corp. Ltd. Corporate Events
IRCTC Assigned ‘Adequate’ ESG Rating of 52 by Independent SEBI-Registered Rater
Mar 27, 2026
Indian Railway Catering Tourism Corporation Ltd. has disclosed that ESG Risk Assessments Insights Limited, a SEBI-registered Category I ESG rating provider, has assigned it an Environmental, Social and Governance score of 52, placing the company...
IRCTC Reshuffles Senior Management to Realign Key Service Verticals
Mar 7, 2026
Indian Railway Catering Tourism Corporation Ltd. has announced changes in its senior management structure following an internal redistribution of work and reassignment of responsibilities among existing officers. The move signals an operational r...
IRCTC Fined by BSE and NSE for Board Composition Non-Compliance, Sees No Operational Impact
Feb 28, 2026
Indian Railway Catering Tourism Corporation Ltd. disclosed that both BSE and NSE have levied fines of ₹5,42,800 each for non-compliance with SEBI Regulation 17(1) relating to board composition, including the absence of a woman director, for...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.