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Swing Capital

Thomas Cook (India) Ltd

NSE: THOMASCOOK BSE: 500413Finance

Established in 1881, Thomas Cook (India) Limited is a leading integrated travel and financial services company in India, offering forex, MICE, leisure travel, insurance, and visa services. [1]

₹93
52W: ₹86.2 — ₹188
PE 38.1 · Book ₹43.5 · +114% vs book
Market Cap₹4,375 Cr
Stock P/E38.1Price to Earnings
ROCE9.69%Return on Capital
ROE5.76%Return on Equity
Div. Yield0.48%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 60.4% CAGR over last 5 years
  • +Company has been maintaining a healthy dividend payout of 22.9%

Weaknesses

  • −Company has a low return on equity of 5.64% over last 3 years.
  • −Earnings include an other income of Rs.207 Cr.
  • −Promoter holding has decreased over last 3 years: -8.51%

Shareholding Pattern

Promoters63.83%
FIIs7.56%
DIIs6.54%
Public21.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters63.83%63.83%63.83%63.83%63.83%63.83%63.83%63.83%
FIIs3.16%3.58%▲0.44.38%▲0.84.52%▲0.14.41%▼0.15.32%▲0.97.28%▲2.07.56%▲0.3
DIIs9.1%9.84%▲0.79.48%▼0.48.1%▼1.47.78%▼0.37.33%▼0.56.83%▼0.56.54%▼0.3
Public22.76%21.64%▼1.121.21%▼0.422.44%▲1.222.86%▲0.422.43%▼0.420.98%▼1.421.01%▲0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales427287753502427392818587402327
Expenses433288700479431399787564412335
Operating Profit-6-25323-4-63123-10-8
OPM %-1%-1%7%5%-1%-2%4%4%-2%-2%
Net Profit1116493211165647-219
EPS ₹0.230.341.040.670.230.341.181-0.050.41

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,134Cr, up 2.9% YoY. OPM at 2%.

Debt Position

Borrowings at ₹116Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Institutional Flow

DIIs: 6.54% (-2.48pp change). FIIs: 7.56% (+7.09pp change). Promoters hold 63.83%.

Margin & Efficiency

ROCE improving from 10% (Mar 2015) to 10% (Mar 2026). Working capital days: -48.

Valuation

PE 38.1x with 9.69% ROCE. Price is 114% above book value of ₹43.5. Dividend yield: 0.48%.

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