On standalone basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Indian Railway Catering &
Tourism Corporation has increased 19.66% to Rs 1,154.77 crore. Sales
of Catering segment has gone up 34.12% to Rs 530.82 crore (accounting for
45.84% of total sales). Sales of Internet Ticketing segment has gone
down 71.89% to Rs 82.96 crore (accounting for 7.17% of total
sales). Sales of Raill Neer segment rose 366.72% to Rs 342.41 crore
(accounting for 29.57% of total sales). Sales of Statem Teertha
segment has gone up 136.23% to Rs 154.61 crore (accounting for 13.35% of total
sales). Sales of Tourism segment has gone down 66.03% to Rs 47.06
crore (accounting for 4.06% of total sales). Inter-segment sales
came down from Rs 3.24 crore to Rs 3.09 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 0.77% to Rs 351.21
crore. PBIT of Catering segment fell 3.31% to Rs 46.46 crore
(accounting for 13.23% of total PBIT). PBIT of Internet Ticketing
segment fell 95.90% to Rs 10.66 crore (accounting for 3.03% of total
PBIT). PBIT of Raill Neer segment rose 2,014.05% to Rs 275.10 crore
(accounting for 78.33% of total PBIT). PBIT of Statem Teertha
segment fell 34.09% to Rs 9.21 crore (accounting for 2.62% of total
PBIT). PBIT of Tourism segment fell 27.92% to Rs 9.78 crore
(accounting for 2.78% of total PBIT).
PBIT margin of Catering segment fell
from 12.14% to 8.75%. PBIT margin of Internet Ticketing segment fell
from 88.07% to 12.84%. PBIT margin of Raill Neer segment rose from
17.74% to 80.34%. PBIT margin of Statem Teertha segment fell from
21.34% to 5.95%. PBIT margin of Tourism segment rose from 9.79% to
20.78%. Overall PBIT margin fell from 35.99% to 30.33%.
Operating profit margin has declined
from 33.64% to 31.41%, leading to 11.73% rise in operating profit to Rs 362.69
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 1.81% to 1.45%. Purchase of finished goods
cost fell from 3.21% to 3.09%. Employee cost increased from 5.81%
to 7.25%. Other expenses rose from 55.53% to 56.82%.
Other direct service cost rose from 49.13% to 51.68%.
Other income fell 16.91% to Rs 32.63
crore. PBIDT rose 8.64% to Rs 395.32 crore. Provision for
interest up 37.18% to Rs 5.35 crore. Loan funds declined from Rs
84.16 crore as of 31 March 2023 to Rs 60.35 crore as of 31 March
2024. Inventories rose to Rs 10.97 crore as of 31 March 2024 from Rs
9.61 crore as of 31 March 2023. Sundry debtors were higher at Rs
1,374.34 crore as of 31 March 2024 compared to Rs 1,142.91 crore as of 31 March
2023. Cash and bank balance rose to Rs 2,262.65 crore as of 31 March
2024 from Rs 1,933.73 crore as of 31 March 2023.
PBDT rose 8.33% to Rs 389.97
crore. Provision for depreciation rose 39.22% to Rs 15.62
crore. Fixed assets increased to Rs 782.06 crore as of 31 March 2024
from Rs 381.99 crore as of 31 March 2023. Intangible assets
increased from Rs 2.73 crore to Rs 3.22 crore.
Profit before tax grew 7.34% to Rs
374.35 crore. Extraordinary items were decreased to Rs 7.89
crore. Provision for tax was expense of Rs 97.87 crore, compared to
Rs 95.8 crore. Effective tax rate was 25.60% compared to 25.57%.
Profit after tax rose 2% to Rs
284.37 crore.
Equity capital stood at Rs 160.00
crore as of 31 March 2024 to Rs 160.00 crore as of 31 March
2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 62.40% as of 31
March 2024 ,compared to 62.40% as of 31 March 2023 .
Full year results analysis
Net sales (including other operating income) of Indian Railway Catering &
Tourism Corporation has increased 20.58% to Rs 4,270.18 crore. Sales
of Catering segment has gone up 31.88% to Rs 1,947.19 crore (accounting for 45.45%
of total sales). Sales of Internet Ticketing segment has gone down
71.56% to Rs 340.67 crore (accounting for 7.95% of total
sales). Sales of Raill Neer segment rose 311.77% to Rs 1,295.31
crore (accounting for 30.23% of total sales). Sales of Statem
Teertha segment has gone up 257.15% to Rs 549.22 crore (accounting for 12.82%
of total sales). Sales of Tourism segment has gone down 63.17% to Rs
151.80 crore (accounting for 3.54% of total sales). Inter-segment
sales rose Rs 13.60 crore to Rs 14.01 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 8.29% to Rs 1,375.91
crore. PBIT of Catering segment rose 59.99% to Rs 268.80 crore
(accounting for 19.54% of total PBIT). PBIT of Internet Ticketing
segment fell 97.14% to Rs 29.22 crore (accounting for 2.12% of total
PBIT). PBIT of Raill Neer segment rose 2,829.71% to Rs 1,067.59
crore (accounting for 77.59% of total PBIT). PBIT of Statem Teertha
reported loss of Rs 19.14 crore compared to profit of Rs 28.79
crore. PBIT of Tourism segment rose 78.87% to Rs 29.43 crore
(accounting for 2.14% of total PBIT).
PBIT margin of Catering segment rose
from 11.38% to 13.80%. PBIT margin of Internet Ticketing segment
fell from 85.22% to 8.58%. PBIT margin of Raill Neer segment rose
from 11.58% to 82.42%. PBIT margin of Statem Teertha segment fell
from 18.72% to 3.48%. PBIT margin of Tourism segment rose from 3.99%
to 19.39%. Overall PBIT margin fell from 35.74% to
32.12%.
Operating profit margin has declined
from 36.04% to 34.34%, leading to 14.89% rise in operating profit to Rs
1,466.20 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 2.14% to 1.69%. Purchase of
finished goods cost rose from 3.41% to 4.10%. Employee cost
decreased from 6.93% to 6.77%. Other expenses rose from 51.50% to
53.13%. Other direct service cost rose from 46.91% to 48.98%.
Other income up 36.58% to Rs 164.48
crore. PBIDT rose 16.76% to Rs 1630.68 crore. Provision
for interest up 15.70% to Rs 18.64 crore. Loan funds declined from
Rs 84.16 crore as of 31 March 2023 to Rs 60.35 crore as of 31 March
2024. Inventories rose to Rs 10.97 crore as of 31 March 2024 from Rs
9.61 crore as of 31 March 2023. Sundry debtors were higher at Rs
1,374.34 crore as of 31 March 2024 compared to Rs 1,142.91 crore as of 31 March
2023. Cash and bank balance rose to Rs 2,262.65 crore as of 31 March
2024 from Rs 1,933.73 crore as of 31 March 2023.
PBDT rose 16.77% to Rs 1612.04
crore. Provision for depreciation rose 6.50% to Rs 57.22
crore. Fixed assets increased to Rs 782.06 crore as of 31 March 2024
from Rs 381.99 crore as of 31 March 2023. Intangible assets
increased from Rs 2.73 crore to Rs 3.22 crore.
Profit before tax grew 17.18% to Rs
1,554.82 crore. Provision for tax was expense of Rs 385.03 crore,
compared to Rs 348.13 crore. Effective tax rate was 25.73% compared
to 25.71%.
Profit after tax rose 10.48% to Rs
1,111.26 crore.
Equity capital stood at Rs 160.00
crore as of 31 March 2024 to Rs 160.00 crore as of 31 March
2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 62.40% as of 31
March 2024 ,compared to 62.40% as of 31 March 2023 .
Dividend:
The board has recommended a Final Dividend of Rs. 4/- shares of Rs. 2/-
each for the financial year 2023-24.
| Indian Railway Catering & Tourism Corporation : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,154.77 | 965.02 | 19.66 | 4,270.18 | 3,541.47 | 20.58 | | OPM (%) | 31.41 | 33.64 | -223 bps | 34.34 | 36.04 | -170 bps | | OP | 362.69 | 324.60 | 11.73 | 1,466.20 | 1,276.22 | 14.89 | | Other Inc. | 32.63 | 39.27 | -16.91 | 164.48 | 120.43 | 36.58 | | PBIDT | 395.32 | 363.87 | 8.64 | 1,630.68 | 1,396.65 | 16.76 | | Interest | 5.35 | 3.9 | 37.18 | 18.64 | 16.11 | 15.70 | | PBDT | 389.97 | 359.97 | 8.33 | 1,612.04 | 1,380.54 | 16.77 | | Depreciation | 15.62 | 11.22 | 39.22 | 57.22 | 53.73 | 6.50 | | PBT | 374.35 | 348.75 | 7.34 | 1554.82 | 1326.81 | 17.18 | | PBT before EO | 374.35 | 348.75 | 7.34 | 1554.82 | 1326.81 | 17.18 | | EO Income | 7.89 | 25.85 | -69.48 | -58.53 | 27.2 | PL | | PBT after EO | 382.24 | 374.6 | 2.04 | 1496.29 | 1354.01 | 10.51 | | Taxation | 97.87 | 95.8 | 2.16 | 385.03 | 348.13 | 10.60 | | PAT | 284.37 | 278.8 | 2.00 | 1111.26 | 1005.88 | 10.48 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 284.37 | 278.8 | 2.00 | 1111.26 | 1005.88 | 10.48 | | EPS (Rs)* | 3.48 | 3.24 | 7.30 | 14.43 | 12.32 | 17.15 | | | * EPS is on current equity of Rs 160.00 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Indian Railway Catering & Tourism Corporation : Standalone Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Catering | 45.84 | 530.82 | 395.78 | 34.12 | 45.45 | 1,947.19 | 1,476.49 | 31.88 | | Internet Ticketing | 7.17 | 82.96 | 295.12 | -71.89 | 7.95 | 340.67 | 1,198.03 | -71.56 | | Raill Neer | 29.57 | 342.41 | 73.37 | 366.72 | 30.23 | 1,295.31 | 314.57 | 311.77 | | Statem Teertha | 13.35 | 154.61 | 65.45 | 136.23 | 12.82 | 549.22 | 153.78 | 257.15 | | Tourism | 4.06 | 47.06 | 138.54 | -66.03 | 3.54 | 151.80 | 412.21 | -63.17 | | Total Reported Sales | 100.00 | 1,157.86 | 968.26 | 19.58 | 100.00 | 4,284.19 | 3,555.07 | 20.51 | | Less: Inter segment revenues | | 3.09 | 3.24 | -4.75 | | 14.01 | 13.60 | 3.03 | | Net Sales | 100.00 | 1,154.77 | 965.02 | 19.66 | 100.00 | 4,270.18 | 3,541.47 | 20.58 | | PBIT | | Catering | 13.23 | 46.46 | 48.05 | -3.31 | 19.54 | 268.80 | 168.01 | 59.99 | | Internet Ticketing | 3.03 | 10.66 | 259.92 | -95.90 | 2.12 | 29.22 | 1,020.93 | -97.14 | | Raill Neer | 78.33 | 275.10 | 13.01 | 2,014.05 | 77.59 | 1,067.59 | 36.44 | 2,829.71 | | Statem Teertha | 2.62 | 9.21 | 13.97 | -34.09 | -1.39 | -19.14 | 28.79 | PL | | Tourism | 2.78 | 9.78 | 13.57 | -27.92 | 2.14 | 29.43 | 16.45 | 78.87 | | Total PBIT | 100.00 | 351.21 | 348.52 | 0.77 | 100.00 | 1,375.91 | 1,270.62 | 8.29 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 31.03 | 26.09 | 18.95 | | 120.37 | 83.39 | 44.35 | | PBIT Margin(%) | | Catering | | 8.75 | 12.14 | -338.78 | | 13.80 | 11.38 | 242.58 | | Internet Ticketing | | 12.84 | 88.07 | -7,522.74 | | 8.58 | 85.22 | -7,663.88 | | Raill Neer | | 80.34 | 17.74 | 6,260.52 | | 82.42 | 11.58 | 7,083.58 | | Statem Teertha | | 5.95 | 21.34 | -1,538.69 | | -3.48 | 18.72 | -2,220.90 | | Tourism | | 20.78 | 9.79 | 1,098.81 | | 19.39 | 3.99 | 1,539.71 | | PBT | 100.00 | 382.23 | 374.60 | 2.04 | 100.00 | 1,496.28 | 1,354.01 | 10.51 |
|
|
Peer Comparision (Standalone)
|
Q-202403
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
28-May-2024
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Indian Railway Catering & Tourism Corporation Ltd
|
1,154.77
|
19.66
|
378.47
|
0.58
|
278.53
|
6.76
|
1,082.70
|
67.70
|
14.43
|
75.01
|
|
Easy Trip Planners Ltd
|
130.01
|
16.63
|
-91.36
|
PL
|
62.85
|
66.23
|
44.05
|
-4.20
|
1.06
|
41.37
|
|
International Travel House Ltd
|
58.66
|
16.41
|
8.72
|
28.99
|
6.13
|
-60.73
|
609.30
|
106.05
|
28.17
|
21.63
|
|
Thomas Cook (India) Ltd
|
284.95
|
-22.61
|
-0.98
|
94.24
|
17.16
|
LP
|
205.70
|
222.26
|
2.12
|
96.88
|
|
Industry
|
1,628.39
|
8.92
|
294.85
|
-28.68
|
364.67
|
16.7
|
90,302.38
|
60.65
|
|
83.10
|
|