Tbo Tek Limited (TBOTEK)

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Tbo Tek Limited (TBOTEK) · mywealthgrid

About

Tbo Tek Limited is a mid-sized operator of tour and travel-related services in India's leisure tourism sector, with ₹17,737 Cr market capitalization and quarterly standalone revenue of roughly ₹145–157 Cr; consolidated operations run at substantially larger scale. The stock trades at a PE of 67, requiring validation that earnings growth supports this valuation.

Face value: ₹1

Market cap

₹18,152 Cr

P/E

68.6×

P/B

11.7×

Dividend yield

ROE

17.8%

ROCE

18.5%

Debt / equity

0.42

OPM

13.8%

EPS (TTM)

₹24.4

Book value

₹142.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation risk: PE of 67 significantly exceeds typical market multiples; verify whether earnings growth rate justifies this premium and assess downside if growth disappoints.
Margin inconsistency: standalone quarterly OPM ranges from 4.27% to 14.81%, suggesting either seasonal patterns or operational volatility; investigate what drives this volatility and whether consolidated operations show similar pressure.
Free-float constraint: public shareholding of 4.04% limits trading liquidity; assess bid-ask spreads and volume to evaluate execution risk.
Sector cyclicality: leisure travel and discretionary spending are sensitive to economic cycles, consumer confidence, and exogenous shocks.

Generated analysis · source review pending

Growth drivers

Consolidated OPM of 12–15% sustained across Sep 2025 to Jun 2026 suggests core operations are scalable; identify whether this margin level is defensible as consolidated revenue grows.
ROE of 17.8% means retained earnings can compound growth if reinvested at similar returns; verify retention rate and capital allocation strategy.
Consolidated revenue of ₹925.78 Cr substantially exceeds standalone ₹157.18 Cr (Jun 2026), suggesting significant value from group subsidiaries or acquired businesses; evaluate sustainability of this portfolio mix and potential for further M&A.

Generated analysis · source review pending

587 historical price candles were omitted because the exchange source has not been verified.

₹1,671.5-0.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 30% (3-yr avg)
+High return on capital employed of 28.3%
+Profit CAGR of 18.1% over the last 3 years
+Revenue CAGR of 36% over the last 3 years

Cons

−Expensive at 68.6× trailing earnings
−Trading at 11.7× book value

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 50
Growth: 90
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Tbo Tek LimitedTBOTEKTBOTEK	₹18,152 Cr	₹18,798 Cr	₹3,092 Cr	₹432 Cr	13.8%	₹265 Cr	9.1%	18.5%	17.8%	-133
Bls International Services LimitedBLSBLS	₹8,914 Cr	₹9,144 Cr	₹3,178 Cr	₹867 Cr	27.3%	₹706 Cr	24.1%	30.1%	32.7%	-19
Le Travenues Technology LimitedIXIGOIXIGO	₹7,103 Cr	₹7,127 Cr	₹1,265 Cr	₹72 Cr	5.9%	₹87 Cr	5.8%	7.6%	5.4%	-47
Thomas Cook (India) LimitedTHOMASCOOKTHOMASCOOK	₹4,737 Cr	₹5,014 Cr	₹8,082 Cr	₹394 Cr	5.1%	₹219 Cr	2.6%	12.7%	9.1%	-137
Easy Trip Planners LimitedEASEMYTRIPEASEMYTRIP	₹2,295 Cr	₹2,327 Cr	₹557 Cr	₹-29 Cr	-2.8%	₹-52 Cr	-8.9%	0.8%	-5.2%	-4,782
Yatra Online LimitedYATRAYATRA	₹1,551 Cr	₹1,622 Cr	₹985 Cr	₹70 Cr	8%	₹31 Cr	4.7%	7.6%	5.8%	109
Waterways Leisure Tourism LimitedCORDELIACORDELIA	₹731 Cr	₹780 Cr	₹591 Cr	—	—	₹168 Cr	28.5%	-62.6%	513.1%	-23
Mach Travel Solutions LtdMACHLTDMACHLTD	₹407 Cr	—	₹217 Cr	₹21 Cr	9.7%	₹17 Cr	7.7%	—	—	—
International Travel House LtdITHLITHL	₹226 Cr	₹226 Cr	₹59 Cr	₹-38 Cr	14.7%	₹-45 Cr	8%	17.6%	10.7%	11
Trade Wings LtdTRADWINTRADWIN	₹138 Cr	₹156 Cr	₹262 Cr	₹-1 Cr	-0.2%	₹2 Cr	0.9%	44.8%	—	12
Yaan Enterprises LtdYAANENTYAANENT	₹51 Cr	₹57 Cr	₹2 Cr	₹-0 Cr	5.7%	₹-3 Cr	3.2%	24.5%	15.8%	117
Helloji Holidays LtdHELLOJIHELLOJI	₹40 Cr	—	₹28 Cr	₹1 Cr	5.4%	₹1 Cr	4.5%	—	—	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,065	1,393	1,737	2,677
	883	1,135	1,462	2,308
	182	258	275	370
OPM %	17.1%	18.5%	15.8%	13.8%
Depreciation	25	36	52	86
Interest	7	11	23	44
	24	15	75	54
Profit before tax	174	227	275	293
Tax	26	26	45	49
Tax %	14.8%	11.6%	16.3%	16.7%
	148	201	230	244
PAT margin %	14%	14.4%	13.2%	9.1%
EPS (₹)	—	19.9	21.7	22.9
EPS adjusted (₹)	14.3	19.4	21.2	22.5
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	10	10	11	11
Reserves	—	330	534	1,184	1,540
Minority interest	—	—	0	—	—
	—	6	135	136	645
	—	2,211	4,178	4,883	7,113
Total equity & liabilities	—	2,558	4,857	6,214	9,309
	89	136	349	345	1,619
CWIP	—	—	0	0	0
Investments	—	0	2	173	263
	—	2,422	4,506	5,696	7,427
Total assets	—	2,558	4,857	6,214	9,309

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	237	222	68	46
	-106	-153	-220	-485
	-14	115	365	441
Net cash flow	117	185	213	3
Free cash flow	231	213	62	34
CFO / Operating profit %	130.5%	85.9%	24.7%	12.6%

Compounded sales growth

7 years: —
5 years: —
3 years: 36%
1 year: 54%

Compounded profit growth

7 years: —
5 years: —
3 years: 18%
1 year: 6%

Return on equity

7 years: —
5 years: —
3 years: 24%
Last year: 16%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Hotels and Packages	2,239.24	1,400.27	0	0
Air Ticketing	324.5	169.14	0	0
Others	113.74	104.56

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	17.1%	18.5%	15.8%	13.8%
EBIT margin %	14.8%	15.9%	12.9%	10.6%
PAT margin %	14%	14.4%	13.2%	9.1%
Working capital
Receivable days	537	867	853	724
Inventory days	0	0	0	0
Payable days	746	1,159	1,079	858
NWC days	-209	-293	-225	-133
Leverage
Current ratio	1.12	1.1	1.2	1.08
Debt to EBITDA	0.03	0.52	0.5	1.75
Debt to equity	0.02	0.25	0.11	0.42
Interest coverage	24.9	23	12.2	7.7
Asset turnover	0.42	0.29	0.28	0.29
Return ratios
Return on assets %	5.8%	4.1%	3.7%	2.6%
Return on capital employed %	43.2%	40.3%	26.2%	18.5%
Return on equity %	43.6%	36.8%	19.2%	15.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.41%	44.41%	44.41%	44.41%	44.41%	44.41%	44.41%	44.41%	44.41%	44.41%
	40.26%	42.79%	43.06%	38.05%	31.61%	30.12%	30.74%	30.85%	29.71%	28.93%
	7.91%	6.6%	6.6%	11.78%	17.88%	19.18%	18.91%	19.01%	20.34%	21.09%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	5.2%	3.98%	3.72%	3.59%	4%	4.27%	3.95%	3.84%	3.88%	4.04%
No. of shareholders	—	—	—	—	—	—	36,262	38,109	37,625	37,774

Promoter holding up 0 percentage points since Mar 2024.

16 deals · 15 May 2024 – 21 Mar 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
21 Mar 2025	AUGUSTA TBO (SINGAPORE) PTE LTD	Bulk	BSE	Sell	46,29,873	₹1,200.04	₹555.60 Cr
21 Mar 2025	NIPPON INDIA MUTUAL FUND	Bulk	BSE	Buy	28,11,402	₹1,200.00	₹337.37 Cr
21 Mar 2025	TBO KOREA HOLDINGS LIMITED	Bulk	BSE	Sell	26,20,127	₹1,200.02	₹314.42 Cr
21 Mar 2025	SBI MUTUAL FUND	Bulk	BSE	Buy	8,78,203	₹1,200.00	₹105.38 Cr
21 Mar 2025	ICICI PRUDENTIAL MUTUAL FUND	Bulk	BSE	Buy	7,83,337	₹1,200.00	₹94.00 Cr
23 Jan 2025	UBS PRINCIPAL CAPITAL ASIA LIMITED	Block	NSE	Sell	1,01,450	₹1,629.50	₹16.53 Cr
23 Jan 2025	UBS AG	Block	NSE	Buy	1,01,450	₹1,629.50	₹16.53 Cr
3 Dec 2024	AUGUSTA TBO (SINGAPORE) PTE LTD	Bulk	BSE	Sell	40,74,288	₹1,465.14	₹596.94 Cr
3 Dec 2024	TBO KOREA HOLDINGS LIMITED	Bulk	BSE	Sell	23,05,712	₹1,465.00	₹337.79 Cr
3 Dec 2024	SBI MUTUAL FUND	Bulk	BSE	Buy	12,50,000	₹1,465.00	₹183.13 Cr

1–10 of 16

1 / 2

Mr. Ravindra DhariwalNon-Executive - Independent Director-Chairperson
Mr. Ankush NijhawanExecutive Director-MD
Mr. Gaurav BhatnagarExecutive Director-MD
Mr. Akshat VermaExecutive Director
Mr. Shantanu RastogiNon-Executive - Nominee Director
Ms. Anuranjita KumarNon-Executive - Independent Director
Mr. Bhaskar PramanikNon-Executive - Independent Director
Mr. Rahul BhatnagarNon-Executive - Independent Director
Neera ChandakCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 11 fund houses

Held by these funds

14.98%

of the company's equity

All mutual funds

18.29%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

54 schemes · 11 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	34.27 L	598.1	0.72%	3.156%	-0
India Opportunities Fund	ICICI Prudential Mutual Fund	20.91 L	364.92	0.95%	1.926%	-24,000
Innovative Opportunities Fund	SBI Mutual Fund	20.17 L	352.06	6.41%	1.858%	-0
Small Cap Fund	Axis Mutual Fund	19.99 L	348.83	1.11%	1.841%	-0
ELSS – Tax Saver Fund	ICICI Prudential Mutual Fund	9.05 L	157.89	1.11%	0.833%	-0
DIGITAL INDIA FUND	Tata Mutual Fund	8.14 L	142.06	1.38%	0.75%	+1 L
Flexi Cap FundNEW	ICICI Prudential Mutual Fund	5.94 L	103.7	0.4%	0.547%	—
Multi Cap FundNEW	ICICI Prudential Mutual Fund	5.54 L	96.61	0.49%	0.51%	—

1–8 of 54

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results29 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1 announcementsExport CSV

28 Sept 2026, 5:36 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Tbo Tek Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

Announcements

Not in the F&O segment

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Air Ticketing · revenue

Tbo Tek Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Air Ticketing · revenue

1

1