Thomas Cook
THOMASCOOK NSE
Thomas Cook
Consumer DiscretionaryNSE: THOMASCOOK BSE: 500413 Leisure Services
Key Fundamentals
MicrocapTour & TravelLeisure ServicesMarket Cap
₹5,017 Cr
Volatility
Moderate
P/E Ratio
23.36
EBITDA
₹587 Cr
Return on Equity
8.74%
Debt to Equity
0.21
Book Value
₹39.7
EPS
₹5.56
52W High
₹180.2
52W Low
₹86.35
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has delivered good profit growth of 23.6% CAGR over last 5 years
- Promoter holding has increased by 0.94% over last quarter.
Weaknesses
3- Company has a low return on equity of 11.4% over last 3 years.
- Earnings include an other income of Rs.171 Cr.
- Promoter holding has decreased over last 3 years: -7.57%
Growth Rate
Revenue Growth
3.3% lower than
3Y
Net Income Growth
-14.67% lower than
3Y
Cash Flow Change
-10.35% higher than
3Y
ROE
-24.33% lower than
3Y
ROCE
-18.32% lower than
3Y
EBITDA Margin (Avg.)
-8.53% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
Thomas Cook (India) Ltd trades at a market cap of Rs.4,999 Cr with a PE of 22.2x and a price-to-book of 2.51x. The company delivered strong 3-year profit CAGR of 222% off a low base but saw TTM profit decline of 13%, while the stock has corrected 37% over the past year.
Bull Case 7
- Strong 5-year compounded profit growth of 24% CAGR, with 3-year profit CAGR at 222% indicating sharp recovery from pandemic lows
- 3-year compounded sales growth of 18% reflects robust post-COVID travel demand recovery
- 5-year compounded sales growth of 60% demonstrates significant top-line expansion over a longer horizon
- PE ratio of 22.2x is moderate for a consumer discretionary travel company, suggesting valuation is not excessively stretched
- 3-year ROE of 11% shows improving capital efficiency compared to the 5-year average of 5% and 10-year average of 2%
- Dividend yield of 0.48% provides a small income component, indicating the company is generating distributable profits
- 5-year stock CAGR of 10% and 3-year stock CAGR of 11% indicate the stock has compounded at a reasonable pace over medium-term despite recent correction
Bear Case 8
- Stock has declined 37% over the past 1 year, indicating significant negative sentiment or deteriorating fundamentals
- TTM profit growth has turned negative at -13%, suggesting earnings momentum is fading
- Earnings quality is questionable with other income of Rs.154 Cr contributing meaningfully to the bottom line
- Promoter holding has decreased by 8.51% over last 3 years, signalling potential lack of promoter confidence
- 3-year ROE of only 11% is relatively low for a company trading at 2.51x price-to-book, indicating suboptimal capital efficiency relative to valuation
- TTM sales growth has slowed sharply to just 3% compared to 18% 3-year CAGR, suggesting the post-COVID recovery tailwind is fading
- 10-year stock CAGR of 0% indicates the company has created no long-term shareholder value over a full decade
- 10-year compounded sales growth of only 3% raises questions about the company's structural growth trajectory beyond cyclical recovery
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Headwinds 1
- GST demand order from Chennai Jun 15
Commercial Tax Officer, Chennai confirmed a GST demand of ₹13,94,644 plus interest and penalty against Thomas Cook.
Positives 2
- Sterling wins 28 Tripadvisor awards Jun 19
Subsidiary Sterling Holiday Resorts secured 28 Travellers' Choice Awards, with Sterling Kanha winning Best of the Best for the fourth consecutive year.
- Cross-border forex card rewards launched Jun 18
Thomas Cook introduced a 10% rewards-back programme for forex card customers on global brands, targeting digital payments during international travel.
Neutral 1
- Investor meet scheduled June 12 Jun 8
Thomas Cook announced a virtual investor meeting on June 12, 2026, organized by Choice Institutional Equities, relying on publicly available information.
TL;DR: Thomas Cook is strengthening its consumer-facing value proposition through forex card rewards and brand recognition via Sterling's Tripadvisor wins. The GST demand of ₹13.9 lakh is immaterial relative to company scale and poses negligible financial risk. Overall trend is mildly positive with the company investing in customer engagement and its hospitality subsidiary gaining repeat industry recognition.
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 | 1,899 | 1,843 | 1,893 | 1,664 | 2,106 | 2,004 | 2,061 | 1,969 | 2,408 | 2,074 | 2,146 | 1,771 | 2,092 |
| Expenses | 1,775 | 1,741 | 1,777 | 1,573 | 1,970 | 1,879 | 1,945 | 1,871 | 2,281 | 1,966 | 2,031 | 1,692 | 1,999 |
| Operating Profit | 124 | 103 | 116 | 91 | 136 | 125 | 116 | 98 | 127 | 108 | 114 | 78 | 93 |
| OPM % | 7% | 6% | 6% | 5% | 6% | 6% | 6% | 5% | 5% | 5% | 5% | 4.4% | 4.5% |
| Other Income | 33 | 28 | 48 | 29 | 28 | 43 | 18 | 50 | 45 | 64 | 11 | 35 | 61 |
| Interest | 26 | 23 | 24 | 26 | 22 | 24 | 26 | 24 | 24 | 24 | 24 | 23 | 23 |
| Depreciation | 30 | 31 | 33 | 33 | 34 | 35 | 37 | 36 | 36 | 39 | 41 | 42 | 42 |
| PBT | 101 | 77 | 107 | 61 | 109 | 110 | 71 | 88 | 112 | 110 | 60 | 48 | 88 |
| Tax % | 28% | 32% | 16% | 7% | 33% | 35% | 35% | 28% | 34% | 36% | 25% | 36% | 28% |
| Net Profit | 71 | 51 | 91 | 58 | 73 | 72 | 47 | 66 | 74 | 71 | 45 | 31 | 64 |
| EPS in Rs | 1.55 | 1 | 1.75 | 1.2 | 1.6 | 1.38 | 1.05 | 1.37 | 1.53 | 1.41 | 0.89 | 0.82 | 1.53 |
Profit & Loss
| Particulars | Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,244 | 6,094 | 8,762 | 11,248 | 6,603 | 6,833 | 795 | 1,888 | 5,048 | 7,299 | 8,140 | 8,398 | 8,082 |
| Expenses | 3,001 | 5,910 | 8,425 | 10,876 | 6,520 | 6,726 | 1,147 | 2,075 | 4,870 | 6,862 | 7,662 | 7,970 | 7,688 |
| Operating Profit | 243 | 184 | 338 | 372 | 83 | 107 | -352 | -187 | 178 | 437 | 478 | 428 | 394 |
| OPM % | 7% | 3% | 3.9% | 3.3% | 1.3% | 1.6% | -44% | -10% | 3.5% | 6% | 6% | 5% | 4.9% |
| Other Income | 41 | -31 | 84 | 6,005 | 168 | 76 | 146 | 55 | 62 | 134 | 141 | 156 | 171 |
| Interest | 71 | 92 | 132 | 149 | 73 | 101 | 62 | 62 | 89 | 99 | 95 | 95 | 94 |
| Depreciation | 41 | 61 | 91 | 137 | 67 | 151 | 148 | 129 | 124 | 128 | 142 | 160 | 165 |
| PBT | 171 | 1 | 199 | 6,091 | 110 | -69 | -416 | -322 | 27 | 345 | 382 | 330 | 306 |
| Tax % | 34% | 6392% | 57% | -1% | 19% | -74% | -29% | -21% | 61% | 21% | 32% | 33% | — |
| Net Profit | 112 | -59 | 86 | 6,131 | 89 | -18 | -295 | -254 | 10 | 271 | 258 | 220 | 211 |
| EPS in Rs | 3.31 | -2.13 | 1.18 | 161 | 2.29 | -0.02 | -6.72 | -5.18 | 0.14 | 5.51 | 5.41 | 4.65 | 4.65 |
| Div. Payout % | 15% | -18% | 32% | 0% | 16% | 0% | 0% | 0% | 291% | 11% | 8% | 11% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 37 | 37 | 37 | 37 | 38 | 38 | 44 | 47 | 47 | 47 | 47 |
| Reserves | 1,302 | 1,211 | 1,950 | 8,634 | 8,856 | 1,627 | 1,891 | 1,651 | 1,666 | 2,010 | 2,213 | 2,499 |
| Borrowings | 380 | 1,042 | 1,404 | 425 | 361 | 762 | 612 | 598 | 539 | 418 | 465 | 539 |
| Other Liabilities | 1,417 | 2,609 | 3,575 | 3,000 | 3,753 | 3,066 | 2,194 | 2,321 | 3,404 | 3,889 | 4,303 | 4,682 |
| Total Liabilities | 3,126 | 4,899 | 6,965 | 12,096 | 13,008 | 5,492 | 4,736 | 4,615 | 5,657 | 6,364 | 7,028 | 7,768 |
| Fixed Assets | 1,200 | 1,903 | 2,843 | 1,723 | 2,403 | 2,707 | 2,628 | 2,580 | 2,576 | 2,770 | 2,809 | 3,147 |
| CWIP | 97 | 53 | 56 | 13 | 7 | 12 | 6 | 14 | 26 | 60 | 93 | 10 |
| Investments | 340 | 134 | 219 | 7,398 | 7,417 | 100 | 130 | 129 | 106 | 134 | 134 | 287 |
| Other Assets | 1,489 | 2,810 | 3,847 | 2,962 | 3,180 | 2,673 | 1,971 | 1,892 | 2,948 | 3,400 | 3,992 | 4,324 |
| Total Assets | 3,126 | 4,899 | 6,965 | 12,096 | 13,008 | 5,492 | 4,736 | 4,615 | 5,657 | 6,364 | 7,028 | 7,768 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 131 | 383 | 273 | -244 | 253 | 120 | -581 | -139 | 649 | 829 | 717 | 643 |
| Investing | -607 | -165 | -253 | -458 | -263 | -184 | 351 | -123 | -179 | -437 | -325 | -384 |
| Financing | 565 | 548 | 161 | 477 | -167 | -170 | 335 | -85 | -230 | -291 | -183 | -189 |
| Net Cash Flow | 89 | 766 | 181 | -225 | -178 | -234 | 105 | -347 | 239 | 101 | 210 | 69 |
| Free Cash Flow | 29 | 113 | 162 | -409 | 179 | 28 | -595 | -201 | 612 | 730 | 609 | 566 |
| CFO/OP | 81 | 268 | 117 | 1 | 357 | 185 | 177 | 76 | 391 | 201 | 170 | 159 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 50 | 42 | 28 | 46 | 25 | 59 | 45 | 41 | 32 | 28 | 29 |
| Cash Conversion Cycle | 73 | 50 | 42 | 28 | 46 | 25 | 59 | 45 | 41 | 32 | 28 | 29 |
| Working Capital Days | -15 | -61 | -52 | -38 | -66 | -78 | -540 | -235 | -102 | -89 | -63 | -87 |
| ROCE % | 17% | 9% | 10% | 6% | 2% | 1% | -14% | -11% | 5% | 19% | 19% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Thomas Cook insights
46 extracted metrics + investor summaries across FY15–FY27.
Documents
1
Clarification sought from Thomas Cook (India) Ltd
11 Jun - Exchange has sought clarification from Thomas Cook (India) Ltd on June 11, 2026 with reference to significant movement in price, in order to ensure that … 11 Jun - Exchange has sought clarification from Thomas Cook (India) Ltd on June 11, 2026 with reference to significant movement in price, in order to ensure that …
2
Disclosure Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 As Amended
6h - SAFEMA Tribunal reduced penalties from Rs. 61.6 million to Rs. 39.96 million in FEMA case. 6h - SAFEMA Tribunal reduced penalties from Rs. 61.6 million to Rs. 39.96 million in FEMA case.
3
Announcement under Regulation 30 (LODR)-Press Release / Media Release
7 May - Thomas Cook India and SOTC signed a long-term MoU with Vinpearl on May 7, 2026. 7 May - Thomas Cook India and SOTC signed a long-term MoU with Vinpearl on May 7, 2026.
4
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6 May - The Q4 & FY26 earnings conference call for the analysts and investors is scheduled to be held on Wednesday, May 13, 2026 at 3:00 p.m. … 6 May - The Q4 & FY26 earnings conference call for the analysts and investors is scheduled to be held on Wednesday, May 13, 2026 at 3:00 p.m. …
5
Announcement under Regulation 30 (LODR)-Press Release / Media Release
30 Apr - Thomas Cook India expands prepaid forex cards to 28 currencies, adding 16 currencies on April 30, 2026. 30 Apr - Thomas Cook India expands prepaid forex cards to 28 currencies, adding 16 currencies on April 30, 2026.
Frequently Asked Questions about Thomas Cook
What does Thomas Cook (India) Ltd do?
Established in 1881, Thomas Cook (India) Limited is a leading integrated travel and financial services company in India, offering forex, MICE, leisure travel, insurance, and visa services. [1]
Where is Thomas Cook (India) Ltd (THOMASCOOK) listed?
Thomas Cook (India) Ltd trades as THOMASCOOK on the NSE and under code 500413 on the BSE.
Which sector does Thomas Cook (India) Ltd belong to?
Thomas Cook (India) Ltd is classified under the Consumer Discretionary sector, in the Leisure Services industry.
What is the market capitalisation of Thomas Cook (India) Ltd?
Thomas Cook (India) Ltd has a market capitalisation of ₹5,017 Cr, which places it in the Mid Cap band.
What is the PE ratio of Thomas Cook (India) Ltd?
Thomas Cook (India) Ltd trades at a PE ratio of 23.36, on earnings per share of ₹5.56, against a book value of ₹39.7 per share.
What is the 52-week high and low of Thomas Cook (India) Ltd?
Over the last 52 weeks Thomas Cook (India) Ltd has traded between ₹86.35 and ₹180.2.
Does Thomas Cook (India) Ltd pay dividends?
Thomas Cook (India) Ltd has a dividend yield of 0.46%.
What is the Return on Equity (ROE) of Thomas Cook (India) Ltd?
Thomas Cook (India) Ltd reported a return on equity of 8.74%. Its debt-to-equity ratio is 0.21.
Company Information
Established in 1881, Thomas Cook (India) Limited is a leading integrated travel and financial services company in India, offering forex, MICE, leisure travel, insurance, and visa services. [1]
Website thomascook.in
CEO Mr. Mahesh Chandran Iyer
Employees 10,194
Listed 2000-06-07
Face Value ₹ 1
Issued Size 47,03,80,562
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