India Tourism Development Corporation Limited

NSE: ITDC · Hotels & Resorts

52W Range₹368 ₹822

Snapshot

Unlock India Tourism Development Corporation Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

India Tourism Development Corporation Limited (ITDC) is a public sector undertaking that operates hotels, resorts, and restaurants under the Ashok brand. The company also provides diverse tourism-related services, including transport, duty-free retail, event management, and consultancy for tourism infrastructure projects.

Business Model

ITDC generates revenue through the operation of hospitality assets, retail sales at duty-free shops, and the provision of professional consultancy and event management services. It leverages its government-backed status to execute large-scale tourism and engineering projects across India.

  • Hotels:3 Ashok Group hotels and 1 joint venture
  • Retail:15 duty-free shops

Growth Outlook

Growth is expected to be driven by the expansion of tourism infrastructure consultancy services and the modernisation of existing hospitality assets. The company continues to focus on diversifying its service portfolio through event management and sound and light show productions.

Key Risks

  • Cyclicality of Tourism. The company's revenue is highly sensitive to fluctuations in domestic and international tourist arrivals and general economic conditions.
  • Operational Efficiency. Maintaining profitability across diverse business segments, including legacy hotel assets, remains a significant operational challenge.
  • Regulatory and Policy Risk. As a public sector entity, ITDC is subject to government policy shifts and administrative oversight that may impact strategic decision-making.
  • Competitive Pressure. The hospitality and retail sectors in India are increasingly competitive, with private players offering modern amenities and aggressive pricing.

Price

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Key Metrics

REVENUE

₹621 Cr

TTM · consolidated

+5.6%YoY

NET PROFIT

₹92 Cr

TTM · consolidated

+13.4%YoY

EPS

₹10.80

TTM · consolidated

+13.8%YoY

RETURN ON EQUITY

24.3%

TTM · consolidated

+3.1 ppYoY

RETURN ON CAPITAL EMPLOYED

32.5%

TTM · consolidated

+7.3 ppYoY

P/E

69.9x

Q4 FY26 · consolidated

69.9 vs 68.6x5Y avg

EV/EBITDA

47.3x

Q4 FY26 · consolidated

47.3 vs 90.8x5Y avg

EBITDA MARGIN

21.9%

TTM · consolidated

+3.8 ppYoY

NET PROFIT MARGIN

19.9%

Q4 FY26 · consolidated

+7.5 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Hotels & Resorts

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
India Tourism Development Corporation LimitedITDC
3,45569.9347.255.6%21.9%24.3%32.5%+25.6%
Mahindra Holidays & Resorts India LimitedMHRIL
5,00766.667.887.6%24.8%8.6%3.7%-35.8%
Juniper Hotels LimitedJUNIPER
4,53430.6611.4111.0%42.4%5.1%7.0%-38.8%
SAMHI Hotels LimitedSAMHI
2,9756.5611.4910.4%37.1%40.4%12.7%-29.7%
ParkHotelsPARKHOTELS
2,25741.7816.11-17.4%32.7%8.7%-88.8%-22.1%
Brigade HotelBRIGHOTEL
2,18638.7112.9336.6%6.7%11.0%

As of Q4 FY26

Financials