TBO Tek
TBOTEK NSE
TBO Tek
Consumer DiscretionaryNSE: TBOTEK BSE: 544174 Leisure Services
Key Fundamentals
SmallcapTour & TravelLeisure ServicesMarket Cap
₹17,795 Cr
Volatility
Moderate
P/E Ratio
68.92
EBITDA
₹421 Cr
Return on Equity
15.75%
Debt to Equity
0.49
Book Value
₹142.8
EPS
₹19.78
52W High
₹1,764.8
52W Low
₹1,004.2
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has delivered good profit growth of 90.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.3%
Weaknesses
3- Stock is trading at 11.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 724 days.
Growth Rate
Revenue Growth
51.65% higher than
3Y
Net Income Growth
6.26% lower than
3Y
Cash Flow Change
-107% higher than
3Y
ROE
-18.14% lower than
3Y
ROCE
-30.67% higher than
3Y
EBITDA Margin (Avg.)
-17.67% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk high
TBO Tek Ltd is a travel technology platform with a market cap of ₹17,795 Cr, trading at a PE of 68.6x and 11.7x book value. The company has delivered strong 5-year profit CAGR of 90% and 5-year sales CAGR of 80%, though ROE has moderated from a 3-year average of 24% to 17% in the last year, and debtor days stand at an elevated 724 days.
Bull Case 8
- Exceptional 5-year compounded profit growth of 90% CAGR indicates strong earnings scalability in the travel tech platform model
- 5-year compounded sales growth of 80% CAGR reflects rapid top-line expansion and increasing platform adoption
- TTM revenue growth of 69% suggests the momentum in sales is continuing into recent quarters
- 3-year ROE of 24.3% demonstrates the company has historically generated healthy returns on shareholder equity
- TTM profit growth of 25% shows continued earnings expansion even on a larger base
- 3-year compounded sales growth of 36% indicates sustained demand beyond any one-time post-COVID recovery
- Company is expected to deliver a good quarter, suggesting near-term operational momentum remains intact
- 5-year ROE of 26% indicates the business model has generated consistent long-term value creation for shareholders
Bear Case 8
- PE ratio of 68.6x is significantly elevated compared to broader market averages, leaving limited margin of safety if growth slows
- Debtor days of 724 is extremely high, indicating the company takes nearly 2 years to collect receivables, which poses significant working capital and cash flow risk
- Price-to-book of 11.7x means investors are paying a steep premium over net asset value
- Zero dividend yield despite repeated profitability suggests shareholders receive no direct income return from their investment
- ROE has declined from a 3-year average of 24% to 17% in the last year, signaling potential margin compression or capital inefficiency
- TTM profit growth of 25% is notably lower than the 5-year CAGR of 90%, indicating a deceleration in earnings growth trajectory
- Stock has returned only 7% over the past 1 year despite strong underlying fundamentals, suggesting the market may already be pricing in future growth
- Absence of disclosed debt-to-equity, EPS, and 52-week high/low data limits full transparency on the company's financial health and valuation range
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 3h ago Neutral 1
- AGM passes all resolutions Aug 27
TBO Tek held its 20th AGM on August 27, 2026. All ordinary and special business resolutions, including director re-appointments, were passed with requisite majority.
TL;DR: Limited news flow for TBO Tek this period, with only a routine AGM update. No material headwinds or positive catalysts emerged. The AGM passing all resolutions without controversy signals stable corporate governance. Investors should watch for upcoming quarterly results and management commentary for directional cues.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 345 | 352 | 327 | 369 | 418 | 451 | 422 | 446 | 511 | 568 | 784 | 814 | 926 |
| Expenses | 278 | 283 | 271 | 304 | 340 | 375 | 367 | 381 | 437 | 479 | 684 | 709 | 788 |
| Operating Profit | 67 | 70 | 56 | 66 | 79 | 75 | 55 | 65 | 74 | 88 | 100 | 105 | 138 |
| OPM % | 19% | 20% | 17% | 18% | 19% | 17% | 13% | 15% | 14% | 16% | 13% | 13% | 15% |
| Other Income | -4 | 1 | 12 | 7 | 15 | 15 | 20 | 25 | 20 | 15 | 7 | 13 | 13 |
| Interest | 2 | 2 | 3 | 4 | 6 | 6 | 6 | 5 | 5 | 9 | 15 | 15 | 15 |
| Depreciation | 6 | 7 | 8 | 15 | 12 | 13 | 13 | 14 | 14 | 16 | 26 | 30 | 33 |
| PBT | 54 | 62 | 57 | 53 | 76 | 71 | 57 | 71 | 75 | 78 | 66 | 74 | 103 |
| Tax % | 13% | 10% | 11% | 13% | 19% | 16% | 12% | 17% | 16% | 14% | 19% | 18% | 19% |
| Net Profit | 47 | 56 | 51 | 46 | 61 | 60 | 50 | 59 | 63 | 68 | 54 | 60 | 83 |
| EPS in Rs | 4.59 | 5.41 | 4.93 | 4.47 | 5.61 | 5.53 | 4.6 | 5.43 | 5.8 | 6.22 | 4.94 | 5.53 | 7.68 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 343 | 441 | 571 | 142 | 483 | 1,065 | 1,393 | 1,737 | 2,677 | 3,092 |
| Expenses | 292 | 395 | 484 | 163 | 451 | 876 | 1,132 | 1,453 | 2,299 | 2,660 |
| Operating Profit | 51 | 46 | 87 | -21 | 32 | 189 | 261 | 285 | 378 | 432 |
| OPM % | 15% | 10% | 15% | -15% | 7% | 18% | 19% | 16% | 14% | 14% |
| Other Income | 9 | -1 | 18 | 5 | 37 | 24 | 21 | 75 | 54 | 48 |
| Interest | 5 | 6 | 5 | 2 | 7 | 14 | 19 | 33 | 52 | 53 |
| Depreciation | 1 | 5 | 12 | 11 | 16 | 25 | 36 | 52 | 86 | 106 |
| PBT | 53 | 34 | 88 | -30 | 46 | 174 | 227 | 275 | 293 | 321 |
| Tax % | 33% | 23% | 17% | 16% | 27% | 15% | 12% | 16% | 17% | — |
| Net Profit | 36 | 26 | 73 | -34 | 34 | 148 | 201 | 230 | 244 | 265 |
| EPS in Rs | 188 | 139 | 385 | -180 | 3.23 | 13.84 | 19.39 | 21.17 | 22.5 | 24.37 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 10 | 10 | 10 | 11 | 11 |
| Reserves | 130 | 159 | 238 | 202 | 221 | 330 | 534 | 1,184 | 1,540 |
| Borrowings | 0 | 21 | 17 | 8 | 63 | 71 | 210 | 214 | 756 |
| Other Liabilities | 462 | 644 | 536 | 364 | 976 | 2,147 | 4,100 | 4,797 | 6,996 |
| Total Liabilities | 594 | 826 | 793 | 576 | 1,271 | 2,558 | 4,855 | 6,206 | 9,303 |
| Fixed Assets | 2 | 44 | 35 | 23 | 92 | 136 | 349 | 345 | 1,619 |
| CWIP | 0 | 0 | 4 | 9 | 0 | 0 | 14 | 39 | 14 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 173 | 263 |
| Other Assets | 592 | 782 | 755 | 545 | 1,179 | 2,422 | 4,490 | 5,649 | 7,407 |
| Total Assets | 594 | 826 | 793 | 576 | 1,271 | 2,558 | 4,855 | 6,206 | 9,303 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 6 | 93 | -3 | 51 | 198 | 237 | 226 | 289 | -21 |
| Investing | 7 | -39 | -6 | -28 | -27 | -85 | -154 | -443 | -361 |
| Financing | -5 | -5 | -8 | -5 | -16 | -14 | 115 | 365 | 441 |
| Net Cash Flow | 8 | 49 | -18 | 17 | 156 | 138 | 188 | 210 | 60 |
| Free Cash Flow | 5 | 75 | -12 | 43 | 184 | 230 | 188 | 236 | -87 |
| CFO/OP | 34 | 231 | 11 | -255 | 674 | 138 | 97 | 112 | 9 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 311 | 314 | 194 | 309 | 401 | 537 | 867 | 853 | 724 |
| Cash Conversion Cycle | 311 | 314 | 194 | 309 | 401 | 537 | 867 | 853 | 724 |
| Working Capital Days | -81 | -129 | -36 | -391 | -234 | -137 | -114 | -104 | -134 |
| ROCE % | — | 29% | 42% | 1% | 18% | 53% | 43% | 27% | 18% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view TBO Tek insights
48 extracted metrics + investor summaries across FY18–FY27.
Documents
1
Announcement under Regulation 30 (LODR)-Change in Management
1 May - Mr. Deepak Khanna resigned from senior management effective April 30, 2026, due to personal reasons. 1 May - Mr. Deepak Khanna resigned from senior management effective April 30, 2026, due to personal reasons.
2
Announcement under Regulation 30 (LODR)-Change in Management
1 May - Mr. Deepak Khanna resigned from senior management effective April 30, 2026, due to personal reasons. 1 May - Mr. Deepak Khanna resigned from senior management effective April 30, 2026, due to personal reasons.
3
Closure of Trading Window
30 Mar - Trading window closed from April 1, 2026 until 48 hours after results for quarter/FY ended March 31, 2026. 30 Mar - Trading window closed from April 1, 2026 until 48 hours after results for quarter/FY ended March 31, 2026.
5
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
17 Mar - Members approved continuation of Mr. Bhaskar Pramanik as independent director beyond age 75 on March 15, 2026. 17 Mar - Members approved continuation of Mr. Bhaskar Pramanik as independent director beyond age 75 on March 15, 2026.
Frequently Asked Questions about TBO Tek
What does TBO Tek Ltd do?
Incorporated in 2006, TBO Tek Ltd is in the business of operating multiple online technology platforms and providing access to book global travel inventory aggregated through travel suppliers like airlines, hotels, etc.[1]
Where is TBO Tek Ltd (TBOTEK) listed?
TBO Tek Ltd trades as TBOTEK on the NSE and under code 544174 on the BSE.
Which sector does TBO Tek Ltd belong to?
TBO Tek Ltd is classified under the Consumer Discretionary sector, in the Leisure Services industry.
What is the market capitalisation of TBO Tek Ltd?
TBO Tek Ltd has a market capitalisation of ₹17,795 Cr, which places it in the Mid Cap band.
What is the PE ratio of TBO Tek Ltd?
TBO Tek Ltd trades at a PE ratio of 68.92, on earnings per share of ₹19.78, against a book value of ₹142.8 per share.
What is the 52-week high and low of TBO Tek Ltd?
Over the last 52 weeks TBO Tek Ltd has traded between ₹1,004.2 and ₹1,764.8.
What is the Return on Equity (ROE) of TBO Tek Ltd?
TBO Tek Ltd reported a return on equity of 15.75%. Its debt-to-equity ratio is 0.49.
Company Information
Incorporated in 2006, TBO Tek Ltd is in the business of operating multiple online technology platforms and providing access to book global travel inventory aggregated through travel suppliers like airlines, hotels, etc.[1]
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