TBO Tek Ltd.

NSE: TBOTEK · Tour, Travel Related Services

52W Range₹1,004 ₹1,765

Snapshot

Unlock TBO Tek Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

TBO Tek Limited operates a global travel distribution platform that connects travel suppliers with travel buyers. The company provides access to a comprehensive inventory including airlines, hotels, car rentals, and various other travel-related services.

Business Model

The company functions as a B2B travel ecosystem, generating revenue by facilitating transactions between travel suppliers and travel agents or corporate clients through its technology platform.

Growth Outlook

Growth is driven by the continued digitisation of the travel industry and the expansion of its global inventory and supplier network.

Key Risks

  • Geopolitical Instability. Global travel demand is highly sensitive to geopolitical tensions, conflicts, and health crises that may restrict international movement.
  • Technological Disruption. The company faces intense competition from other online travel agencies and direct-to-consumer booking platforms that may erode market share.
  • Regulatory Compliance. Operating across multiple jurisdictions exposes the company to varying travel regulations, data privacy laws, and tax requirements.
  • Supplier Dependency. The business model relies on maintaining strong relationships with travel suppliers, and any loss of key inventory partners could impact service offerings.

Price

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Key Metrics

REVENUE

₹2,677 Cr

TTM · consolidated

+54.1%YoY

NET PROFIT

₹244 Cr

TTM · consolidated

+6.3%YoY

EPS

₹22.87

TTM · consolidated

+4.9%YoY

RETURN ON EQUITY

19.0%

TTM · consolidated

-13.5 ppYoY

RETURN ON CAPITAL EMPLOYED

21.1%

TTM · consolidated

-10.4 ppYoY

P/E

63.6x

Q4 FY26 · consolidated

63.6 vs 183.7x5Y avg

EV/EBITDA

36.0x

Q4 FY26 · consolidated

36.0 vs 97.9x5Y avg

EBITDA MARGIN

15.7%

TTM · consolidated

-3.7 ppYoY

NET PROFIT MARGIN

7.4%

Q4 FY26 · consolidated

-5.8 ppYoY

DEBT TO EQUITY

0.4x

Q4 FY26 · consolidated

+0.31xYoY

Peers · Tour, Travel Related Services

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
TBO Tek Ltd.TBOTEK
11,51063.5635.9854.1%15.7%19.0%21.1%+3.1%
BLS International Services Ltd.BLS
10,42514.2710.4336.7%30.5%37.8%32.5%-38.6%
Le TravenuesIXIGO
7,484106.3660.03-100.0%39.8%14.2%21.2%+11.1%
Thomas Cook (India) LimitedTHOMASCOOK
4,49622.167.103.2%7.0%9.5%12.8%-37.2%
Easy Trip Plann.EASEMYTRIP
2,41423.5281.8410.6%4.6%-6.4%-4.6%-35.7%
Yatra OnlineYATRA
1,59236.5916.1127.2%10.5%5.9%7.3%+26.7%

As of Q4 FY26

Financials