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:72Outperform
Price Target:
₹566.00
▼(-15.91% Downside)
Action:ReiteratedDate:11/01/25
Indian Railway Catering & Tourism Corp. Ltd. scores well due to its strong financial performance, characterized by robust growth and financial stability. However, the stock's valuation appears high, which could limit upside potential. Technical indicators suggest moderate momentum, but resistance levels may pose challenges. The absence of earnings call and corporate events data means these factors do not influence the score.
Positive Factors
Strong profit margins & growth
IRCTC’s multi-year revenue CAGR north of 20% combined with gross margins above 35% and improving EBIT/EBITDA margins indicate durable operating leverage. Such structural margin strength supports sustained profitability across cycles and funds reinvestment into core platform and services.
Negative Factors
Concentration on rail passenger volumes
A large share of revenue depends on Indian Railways passenger volumes and travel activity. That concentration creates structural exposure to changes in travel demand, modal shifts, or long-term declines in rail passenger traffic, which could pressure top-line resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profit margins & growth
IRCTC’s multi-year revenue CAGR north of 20% combined with gross margins above 35% and improving EBIT/EBITDA margins indicate durable operating leverage. Such structural margin strength supports sustained profitability across cycles and funds reinvestment into core platform and services.
Read all positive factors
Indian Railway Catering & Tourism Corp. Ltd. (IRCTC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹408.48B
Dividend Yield1.32%
Average Volume (3M)76.22K
Price to Earnings (P/E)34.7
Beta (1Y)1.33
Revenue Growth7.66%
EPS Growth14.36%
CountryIN
Employees1,407
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)4.80
Shares Outstanding800,000,000
10 Day Avg. Volume77,850
30 Day Avg. Volume76,220
Financial Highlights & Ratios
PEG Ratio2.40
Price to Book (P/B)15.81
Price to Sales (P/S)12.39
P/FCF Ratio76.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹715.00Price Target Upside6.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)17.78
Revenue Forecast (FY)₹51.17B
Indian Railway Catering & Tourism Corp. Ltd. Business Overview & Revenue Model
Company Description
Indian Railway Catering & Tourism Corporation Limited provides catering and hospitality, Internet ticketing, travel and tourism, and packaged drinking water services in India. It operates through five segments: Catering, Railneer, Tourism & Train ...
How the Company Makes Money
IRCTC earns revenue through multiple business lines tied to passenger travel on Indian Railways:
1) Rail ticketing and related online services
- Convenience/service fees and charges: IRCTC operates Indian Railways’ primary online rail ticketing p...
Indian Railway Catering & Tourism Corp. Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.99B | 46.75B | 42.70B | 35.41B | 18.78B | 7.77B |
| Gross Profit | 17.63B | 17.16B | 19.33B | 14.07B | 9.60B | 2.57B |
| EBITDA | 18.85B | 18.27B | 15.59B | 14.24B | 9.42B | 3.10B |
| Net Income | 13.72B | 13.15B | 11.11B | 10.06B | 6.60B | 1.87B |
Balance Sheet | ||||||
| Total Assets | 76.31B | 68.00B | 60.91B | 50.89B | 38.84B | 31.53B |
| Cash, Cash Equivalents and Short-Term Investments | 33.36B | 26.57B | 22.76B | 19.30B | 17.30B | 14.59B |
| Total Debt | 782.24M | 897.96M | 603.50M | 841.62M | 1.05B | 794.57M |
| Total Liabilities | 33.71B | 31.37B | 28.61B | 26.10B | 20.14B | 16.97B |
| Stockholders Equity | 42.61B | 36.63B | 32.30B | 24.78B | 18.70B | 14.56B |
Cash Flow | ||||||
| Free Cash Flow | 8.07B | 7.62B | 6.50B | 7.43B | 5.02B | 1.70B |
| Operating Cash Flow | 8.34B | 8.10B | 8.82B | 8.12B | 5.24B | 2.48B |
| Investing Cash Flow | -5.18B | -2.29B | -2.00B | -3.17B | -2.42B | -4.53B |
| Financing Cash Flow | -903.58M | -9.10B | -4.04B | -4.34B | -2.58B | -468.47M |
Indian Railway Catering & Tourism Corp. Ltd. Technical Analysis
Negative
673.05
Price Trends
587.42
Negative
633.82
Negative
680.68
Negative
Market Momentum
-23.41
Negative
31.80
Neutral
29.49
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 539.62, above the 50-day MA of 587.42, and below the 200-day MA of 680.68, indicating a bearish trend. The MACD of -23.41 indicates Negative momentum. The RSI at 31.80 is Neutral, neither overbought nor oversold. The STOCH value of 29.49 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹408.48B | 34.72 | ― | 1.32% | 7.66% | 14.36% | |
64 Neutral | ₹752.13B | 48.07 | ― | 0.78% | ― | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ₹83.52B | 47.77 | ― | 0.79% | 29.92% | 22.87% | |
59 Neutral | ₹44.17B | 41.31 | ― | 0.32% | 11.02% | -9.59% | |
57 Neutral | ₹320.82B | 190.69 | ― | ― | 9.17% | 1685.95% | |
56 Neutral | ₹33.16B | 44.72 | ― | 0.50% | 6.56% | 4.21% |
* Industrials Sector Average
IN:IRCTC
Indian Railway Catering & Tourism Corp. Ltd.
510.60
-206.42
-28.79%
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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...
IRCTC Sets Board Meet for Q3 Results and Second Interim Dividend, Announces Record Date and Trading Window Closure
Jan 27, 2026
IRCTC has announced that its Board of Directors will meet on 12 February 2026 to consider and approve the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, and to consid...
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.