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Thomas Cook (India) Limited
(THOMASCOOK)
Thomas Cook (India) Limited (THOMASCOOK) vs. iShares MSCI India ETF (INDA)
Thomas Cook (India) Limited Business Overview & Revenue Model
Thomas Cook (India) Limited Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 85.12B | 81.40B | 73.13B | 50.48B | 18.87B | 7.94B |
| Gross Profit | 13.33B | 11.21B | 9.76B | 5.19B | 6.94B | -2.13B |
| EBITDA | 5.76B | 6.15B | 5.17B | 2.39B | -1.33B | -2.06B |
| Net Income | 2.53B | 2.54B | 2.59B | 64.60M | -2.29B | -2.54B |
Balance Sheet | ||||||
| Total Assets | 74.84B | 71.16B | 64.17B | 56.84B | 46.43B | 47.64B |
| Cash, Cash Equivalents and Short-Term Investments | 22.84B | 11.17B | 14.49B | 11.45B | 5.84B | 8.72B |
| Total Debt | 5.08B | 4.65B | 4.18B | 5.39B | 5.98B | 6.12B |
| Total Liabilities | 51.42B | 48.79B | 43.84B | 40.09B | 29.88B | 28.48B |
| Stockholders Equity | 23.63B | 22.60B | 20.57B | 17.13B | 16.95B | 19.29B |
Cash Flow | ||||||
| Free Cash Flow | 2.82B | 6.00B | 7.25B | 4.06B | -2.01B | -5.97B |
| Operating Cash Flow | 3.28B | 7.17B | 8.29B | 4.73B | -1.39B | -5.81B |
| Investing Cash Flow | -2.94B | -3.29B | -4.39B | -111.56M | -1.25B | 3.53B |
| Financing Cash Flow | -1.28B | -1.83B | -2.91B | -2.30B | -847.51M | 3.35B |
Thomas Cook (India) Limited Technical Analysis
Thomas Cook (India) Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹18.95B | 18.32 | ― | 0.48% | 9.49% | 40.16% | |
66 Neutral | ₹24.95B | 91.75 | ― | ― | -16.06% | -79.12% | |
62 Neutral | ₹16.83B | 81.87 | ― | ― | 82.79% | 208.75% | |
58 Neutral | ₹48.61B | 41.31 | ― | 0.32% | 11.02% | -9.59% | |
57 Neutral | ₹51.88B | 702.73 | ― | ― | 4.25% | 17.51% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹36.52B | 44.72 | ― | 0.50% | 6.56% | 4.21% |
Thomas Cook (India) Limited Corporate Events
Thomas Cook (India) Limited has approved the grant of 1.37 million stock options to eligible employees under its 2024 EXECOM employee stock option scheme, with each option convertible into one equity share of face value Re 1 at an exercise price of Re 1. The ESOP scheme, which complies with SEBI’s share-based benefits regulations and allows vested options to be exercised over a period of up to 20 years, is aimed at incentivising key employees and strengthening alignment between management and shareholders.
The long exercise window and discounted exercise price suggest a focus on long-term retention and performance of senior staff, potentially deepening management commitment during future business cycles. For investors, the grant outlines a defined path for future equity issuance of up to 1.37 million shares, implying modest potential dilution while reinforcing the company’s use of stock-based compensation as part of its remuneration framework.
Thomas Cook (India) Limited has announced that the board of its wholly owned subsidiary, Sterling Holiday Resorts Limited, has approved a Composite Scheme of Arrangement involving Thomas Cook (India), Sterling Holiday Resorts, TC Visa Services (India), Jardin Travel Solutions, Borderless Travel Services, and their respective shareholders. The scheme, disclosed under SEBI’s Listing Obligations and Disclosure Requirements, is a corporate restructuring step that is expected to streamline group operations by reorganizing businesses across travel, hospitality, and visa services under a more unified structure, with implications for governance and potential operational efficiencies within the Thomas Cook India group.
Thomas Cook (India) Limited has announced that its Board of Directors will meet on March 20, 2026 to consider and approve a corporate restructuring proposal aimed at streamlining the company’s existing capital structure. The outcome of this meeting could alter the firm’s balance-sheet profile and potentially impact shareholder value, depending on the restructuring measures adopted.
In line with SEBI’s Prohibition of Insider Trading Regulations and the company’s own insider trading policy, Thomas Cook (India) has confirmed that its trading window for designated persons and their immediate relatives is closed from March 18 to March 22, 2026. The temporary trading halt is intended to prevent any misuse of unpublished price-sensitive information ahead of the board’s deliberations on the restructuring plan.
Thomas Cook (India) Limited has approved the transfer of 49,196 equity shares of Re. 1 each from its ESOP Trust, managed by IDBI Trusteeship Services, to eligible employees under its Management 2018 and EXECOM 2018 ESOP schemes following the exercise of options. The move underscores the company’s continued reliance on equity-based incentives to reward and retain senior staff, aligning employee interests with shareholder value and reinforcing its corporate governance and compensation framework.
The authorised transfer covers 3,000 shares under the Management 2018 plan and 46,196 shares under the EXECOM 2018 plan, as cleared by the Nomination and Remuneration Committee on March 13, 2026. This allocation is expected to strengthen management engagement and ownership in the company’s long-term performance while maintaining transparency through formal disclosure to stock exchanges.
Thomas Cook (India) Limited has announced the results of a postal ballot conducted exclusively through remote e-voting, in compliance with SEBI’s Listing Obligations and Disclosure Requirements Regulations. The company reported that two special resolutions contained in the postal ballot notice dated February 5, 2026, were approved by the requisite majority as of March 12, 2026.
The scrutinizer’s report dated March 13, 2026, along with detailed voting results, has been filed with both BSE and NSE and made available on the company’s website and the NSDL e-voting portal. The outcome confirms shareholder support for the proposed special resolutions, signaling formal regulatory and governance compliance and reinforcing transparency for investors and market participants.
Thomas Cook (India) Limited has announced the results of a postal ballot conducted via remote e-voting, in line with SEBI’s listing and disclosure regulations and its earlier intimation to the stock exchanges. The company reported that the special resolutions detailed in its February 5, 2026 postal ballot notice were approved by the requisite majority as of March 12, 2026, and has published the voting results and scrutinizer’s report on its website and that of NSDL, reinforcing procedural transparency and regulatory compliance for shareholders.
The postal ballot covered two resolutions and was based on a record date of January 30, 2026, with 109,793 shareholders on record and voting conducted exclusively through remote e-voting without physical or video conferencing participation data being applicable. By securing shareholder approval through this process, Thomas Cook (India) Limited solidifies the legitimacy of its proposed actions under these special resolutions, providing clarity for investors and supporting the company’s ability to execute its board-approved plans within the established corporate governance framework.
Thomas Cook (India) Limited has expanded its footprint in Maharashtra by opening a new outlet in Kolhapur, taking its presence to two locations in the city and 29 across the state. The move is aimed at capitalising on rising affluence and growing travel demand in Kolhapur, a key commercial hub in southern Maharashtra.
The Kolhapur outlet offers end-to-end travel services, including domestic and international holidays, cruises, travel insurance and access to the company’s AI-powered booking platform for real-time vacation planning. By targeting diverse segments such as families, couples, millennials, Gen Z, business travellers and seniors, the expansion reinforces Thomas Cook India’s strategic focus on high-potential Tier-2 markets and strengthens its competitive position in a key source market.
Thomas Cook (India) Limited has reported receiving an order dated March 6, 2026 from the Office of the Assistant Commissioner of Income Tax, Circle 1(3)(1), Mumbai, relating to a pending tax dispute for assessment year 2017-18 involving a demand of Rs 1,341.1 million. The company stated that the demand has been resolved through this order and confirmed that there is no impact on its financial operations or other activities, with disclosure made to stock exchanges and on its website in compliance with SEBI Listing Regulations.
The resolution of the Rs 1,341.1 million tax demand removes an overhang of litigation for Thomas Cook India and provides greater clarity around its contingent tax exposure for the relevant year. By formally communicating the outcome under Regulation 30, the company aims to reassure investors and stakeholders that the dispute has been settled without financial or operational consequences, reinforcing its regulatory compliance and disclosure practices in the Indian capital markets.
Thomas Cook (India) Limited has notified the stock exchanges that the audio recording of its analyst and investor earnings conference call, covering the unaudited financial results for the quarter and nine months ended December 31, 2025, has been made available on the company’s website. The disclosure, made pursuant to SEBI’s listing regulations, underscores the company’s ongoing efforts to maintain transparency and facilitate easier access to financial information for analysts, investors, and other stakeholders by promptly publishing recordings of its earnings discussions online.
Thomas Cook India’s experiential hospitality brand Nature Trails has expanded its resort portfolio with the launch of Nature Trails Rishikesh in Uttarakhand, its fifth property after locations in Maharashtra and Goa. The new 29-room resort, set on four acres between Rishikesh and Haridwar near Rajaji National Park, is positioned to capture rising demand for domestic experiential travel by offering a mix of spiritual tourism, adventure activities such as safaris and rafting, and local Garhwali cuisine. With strong connectivity to major hubs like Delhi, Haridwar and Dehradun, the property targets families, couples, spiritual travelers, corporate off-sites and group retreats, and forms part of Thomas Cook India’s aggressive expansion strategy for Nature Trails following last year’s acquisition, underscoring the company’s push to capitalize on India’s growing domestic tourism market.
Thomas Cook India’s Nature Trails brand has expanded beyond Maharashtra with the launch of its fourth property, Nature Trails Rock Valley at Ponda, Goa, marking its entry into the state’s high-potential experiential tourism market. The 15-acre resort, set in a valley at the foothills of the Western Ghats, offers nature-facing rooms, infinity pools, an extensive adventure zone with activities such as zip lining, rope courses, kayaking and ATV rides, as well as a spice farm and curated learning programs for schools and colleges, positioning it for families, groups and corporate offsites. With convenient access from Goa’s airport, railhead and beaches, all-inclusive dining and conference facilities for up to 120 guests, the property is designed to tap multiple traveler segments, reinforcing Thomas Cook India’s strategy to capture booming domestic demand for nature, activity and adventure-based stays and to build out its Nature Trails portfolio across more destinations in India.