Travel Food Services Limited

BSE: TRAVELFOOD · Restaurants

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52W Range₹1,035 – ₹1,471

Snapshot

Unlock Travel Food Services Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Travel Food Services Ltd is a prominent operator specialising in quick service restaurants (QSR) and lounge services within airport environments. The company maintains a significant presence in the Indian travel retail sector, catering to the needs of domestic and international travellers.

Business Model

The company generates revenue by operating food and beverage outlets and premium lounges within airport terminals. Its business model relies on securing long-term concessions and partnerships at major transit hubs.

  • Airport QSR Market Share:26%
  • Airport Lounge Market Share:45%

Growth Outlook

Growth is driven by the expansion of air travel infrastructure in India and the increasing demand for premium passenger amenities. The company continues to leverage its market leadership to capture rising footfall in airport terminals.

Key Risks

  • Concession Renewal Risk. The company's operations are dependent on winning and renewing long-term concession agreements at airports, which are subject to competitive bidding processes.
  • Travel Volume Sensitivity. Revenue is highly correlated with passenger traffic volumes, making the business vulnerable to macroeconomic downturns or disruptions in the aviation sector.
  • Operational Cost Inflation. Rising costs for raw materials, labour, and airport rental fees can exert pressure on profit margins.

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Key Metrics

P/E

33.4×

Q1 FY27 · consolidated

33.4 vs 38.2x5Y avg

EV/EBITDA

20.3x

Q1 FY27 · consolidated

20.3 vs 21.7x5Y avg

NET PROFIT MARGIN

28.5%

Q1 FY27 · consolidated

+3.2 ppYoY

Peers · Restaurants

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Travel Food Services LimitedTRAVELFOOD
₹15,992 Cr33.4×20.31—45.5%33.7%39.7%-10.3%
Devyani International Ltd.DEVYANI
₹17,275 Cr-577.6×19.1314.7%16.3%-2.1%5.2%-26.0%
Westlife Foodworld LimitedWESTLIFE
₹9,336 Cr288.3×26.546.8%13.9%5.2%15.5%-13.8%
Sapphire Foods India Ltd.SAPPHIRE
₹7,439 Cr-419.6×13.9910.2%16.3%-1.2%4.0%-29.2%
Restaurant Brands Asia LimitedRBA
₹6,751 Cr-31.4×17.3813.3%13.6%-23.5%0.0%+18.2%
United FoodbrandsUFBL
₹2,822 Cr-68.3×12.7019.9%15.7%-12.8%3.8%—

As of Q1 FY27

Financials