India Tourism Development Corp. Ltd. (ITDC) AI Stock Analysis

• Market Cap: ₹45.35B
• Dividend Yield: 0.5%
• Average Volume (3M): 2.97K
• Price to Earnings (P/E): 62.8
• Beta (1Y): 2.20
• Revenue Growth: 6.56%
• EPS Growth: 4.21%
• Country: IN
• Employees: 465
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Lodging
• EPS (TTM): 1.92
• Shares Outstanding: 85,769,400
• 10 Day Avg. Volume: 1,946
• 30 Day Avg. Volume: 2,967
• PEG Ratio: 2.40
• Price to Book (P/B): 14.07
• Price to Sales (P/S): 8.97
• P/FCF Ratio: -15.14
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: ₹522.00 ▼(-11.09% Downside)

The overall stock score of 53 reflects a combination of solid financial performance but significant cash flow challenges, bearish technical indicators, and a high valuation. The lack of earnings call data and corporate events further limits the assessment.

Positive Factors

Diversified revenue streams

Multiple business lines (hospitality, duty-free, travel services, catering) create durable revenue diversification. This reduces dependence on a single segment, enables cross-selling and helps stabilize cash flows across tourism cycles and seasonal demand over the medium term.

Consistent revenue growth

A multi-year upward revenue trend indicates expanding market reach and recovering/tightening demand for tourism services. Persisting top-line growth supports scale benefits, investment capacity and margin sustainability if cost control remains intact over the next several quarters.

Low leverage / strong equity base

Very low debt and near-50% equity ratio give the company financial flexibility to fund renovations, strategic projects or weather downturns without heavy interest burdens. This structural balance-sheet strength supports long-term investments and liquidity resilience.

Negative Factors

Weak cash generation

Negative operating and free cash flow signal the company is not converting accounting profits into cash, risking liquidity for capex, debt service or dividends. Persisting cash shortfalls force reliance on alternative funding or asset monetization, constraining strategic flexibility.

Sharp EBIT margin deterioration

A rapid fall in EBIT margin suggests rising operating costs, lower operating efficiency, or exceptional charges. If structural, this erosion reduces operating leverage and long-term profitability, necessitating cost restructuring or pricing power restoration to sustain returns.

Moderate ROE despite profitability

ROE at this level, while positive, appears modest given healthy margins, indicating potential capital allocation or asset utilization inefficiencies. Over time, suboptimal returns on equity can limit shareholder value creation unless management improves asset productivity or redeploys capital more effectively.

India Tourism Development Corp. Ltd. Business Overview & Revenue Model

Company Description

India Tourism Development Corporation Limited, together with its subsidiaries, acquires, constructs, and operates hotels, beach resorts, and lodges/restaurants for tourists in India. The company provides transport, entertainment, shopping, and conventional services; manages catering services; and produces, distributes, and sells tourist publicity literature. It also offers tourism and hospitality related training and education services, event management services, full-fledged money changer services, etc. In addition, the company is involved in the consultancy and execution of tourism and engineering projects; and sound and light show activities. It operates 3 Ashok Group of Hotels, 1 joint venture hotels, 1 restaurant, 5 ATT units, 15 duty free shops at sea ports, and one sound and light shows. India Tourism Development Corporation Limited was incorporated in 1965 and is based in New Delhi, India.

How the Company Makes Money

ITDC generates revenue through multiple streams, primarily from its hospitality services, which include the operation of hotels, restaurants, and catering services. The company earns income from room bookings, food and beverage sales, and event management services hosted at its venues. Additionally, ITDC operates duty-free shops at major airports, contributing to its revenue through sales of a variety of products to international travelers. The company also engages in travel and tour operations, offering packages, travel bookings, and related services, further diversifying its income sources. Strategic partnerships with airlines, travel agencies, and other tourism-related entities enhance ITDC's market reach and contribute to its overall earnings.

India Tourism Development Corp. Ltd. Financial Statement Overview

Summary

India Tourism Development Corp. Ltd. has demonstrated solid revenue growth and profitability with healthy margins. However, significant cash flow challenges pose a risk to liquidity, requiring attention to ensure sustainable operations.

Income Statement

The company has demonstrated a solid revenue growth trend over the years, with Total Revenue increasing from 2021 to 2025. The Gross Profit Margin and Net Profit Margin for the latest period are healthy at 46.6% and 14.3%, respectively, indicating strong profitability. However, there's a notable decline in EBIT Margin from 46.9% in 2024 to 13.8% in 2025, suggesting increased operating expenses or reduced efficiency in operations.

Balance Sheet

The company's balance sheet shows a strong equity base with an Equity Ratio of 48.7% in 2025, indicating financial stability. The Debt-to-Equity Ratio is low at 0.002, suggesting minimal reliance on debt financing. However, the Return on Equity (ROE) is moderate at 22.4%, which could be improved given the company's profitability levels.

Cash Flow

The cash flow statement reveals challenges in cash generation, with a significant negative Operating Cash Flow in 2025. Free Cash Flow has also turned negative, indicating potential liquidity issues. The Free Cash Flow to Net Income Ratio is unfavorable, suggesting that the company is not effectively converting income into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.91B	5.70B	5.32B	4.61B	2.94B	1.77B
Gross Profit	2.72B	2.66B	2.53B	2.46B	1.25B	495.14M
EBITDA	1.10B	1.06B	1.15B	883.80M	151.08M	-258.20M
Net Income	795.93M	815.45M	703.35M	551.20M	42.43M	-347.94M
Balance Sheet
Total Assets	0.00	7.46B	10.66B	9.34B	5.84B	5.63B
Cash, Cash Equivalents and Short-Term Investments	2.20B	2.19B	1.78B	2.06B	2.19B	2.32B
Total Debt	0.00	6.35M	6.35M	6.30M	6.30M	6.30M
Total Liabilities	-3.52B	3.94B	6.87B	6.06B	3.10B	2.91B
Stockholders Equity	3.52B	3.64B	3.89B	3.38B	2.83B	2.81B
Cash Flow
Free Cash Flow	0.00	-3.38B	408.46M	-247.87M	101.10M	-171.54M
Operating Cash Flow	0.00	-3.29B	423.32M	-117.65M	156.37M	-129.66M
Investing Cash Flow	0.00	-133.62M	43.05M	-29.84M	49.02M	109.03M
Financing Cash Flow	0.00	-216.14M	-190.56M	0.00	0.00	-1.41M

India Tourism Development Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 587.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ITDC, the sentiment is Negative. The current price of 587.1 is above the 20-day moving average (MA) of 548.25, above the 50-day MA of 560.27, and above the 200-day MA of 584.43, indicating a bearish trend. The MACD of -16.64 indicates Positive momentum. The RSI at 43.31 is Neutral, neither overbought nor oversold. The STOCH value of 43.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ITDC.

India Tourism Development Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADVANIHOTR	72 Outperform	₹5.24B	22.20	―	3.31%	0.14%	7.90%
TAJGVK	72 Outperform	₹23.13B	15.99	―	0.48%	9.49%	40.16%
PARACABLES	62 Neutral	₹10.22B	13.97	―	―	38.39%	-27.69%
ROHLTD	61 Neutral	₹9.84B	21.32	―	0.61%	10.77%	-4.40%
MHRIL	57 Neutral	₹59.81B	59.08	―	―	4.25%	17.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ITDC	53 Neutral	₹45.35B	62.78	―	0.50%	6.56%	4.21%

India Tourism Development Corp. Ltd. Corporate Events

ITDC Files SEBI Regulation 74(5) Compliance Certificate for December 2025 Quarter

India Tourism Development Corporation Ltd. has informed stock exchanges that it has received a confirmation certificate from its registrar and share transfer agent, KFin Technologies Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter and nine months ended 31 December 2025. The certificate confirms that details of securities dematerialised and rematerialised during the period have been duly furnished to all stock exchanges where ITDC shares are listed, underscoring the company’s ongoing compliance with securities depository regulations and its maintenance of proper records for investors and regulators.

ITDC Closes Trading Window Ahead of Q3 FY2025-26 Results

India Tourism Development Corporation Ltd. has announced the closure of its trading window for designated persons and insiders from 1 January 2026 to 16 February 2026, or until 48 hours after the announcement of its unaudited financial results for the quarter ended 31 December 2025, whichever is earlier. The move, in line with SEBI’s Prohibition of Insider Trading Regulations and the company’s revised code of conduct, prohibits directors, specified employees, their relatives, auditors and other connected parties from trading in ITDC shares during this period, underscoring the company’s adherence to governance norms and efforts to prevent misuse of unpublished price-sensitive information ahead of its quarterly results.