TRAVELFOODNSE11 August 2025

Travel Food Services Limited has informed the Exchange regarding a press release dated August 11, 2025, titled "Investor Presentation and Press Release on Un-audited Financial Results for the quarter ...

Travel Food Services Limited

Date: 11th August, 2025

To, Department of Corporate Services BSE Limited P.J. Towers, Dalal Street, Mumbai-400 001. Scrip Code: 544443

Dear Sir/Madam,

Sub: Investor Presentation and Press Release

To, Listing Department The National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Scrip Code: TRAVELFOOD

Please find enclosed a copy of the Investor Presentation and the Press Release on the Un-audited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2025 pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The aforesaid information www.travelfoodservices.com.

is also being uploaded on

the website of

the Company-

Kindly take the same on your records.

Thanking You,

Yours truly, For Travel Food Services Limited

Neeta Arvind Singh Company Secretary and Compliance Officer

EARNINGS PRESENTATION Q1 FY26

AUGUST 2025

Strictly private and confidential

Safe Harbour Statement

This presentation and the accompanying slides (the “Presentation”) have been prepared by Travel Food Services Limited (the “Company”) solely for informational purposes of general public. This Presentation does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum, or an offer to sell or issue or invitation or solicitation to subscribe to or purchase any securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, shall form the basis of or be relied upon in connection with, any contract or binding commitment or investment decision whatsoever. Any offering of securities of the Company will be made only by means of a statutory offering document containing detailed information about the Company and its securities. This document is not financial, legal, tax or other product advice.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable. However, the Company makes no representation, warranty or undertaking, express or implied, as to the truth, accuracy, completeness, fairness, reasonableness or correctness of the information or the opinions contained in this Presentation. No reliance should be placed on its contents by members of the public or an investor or shareholder. This Presentation may not be all-inclusive and may not contain all information that a prospective investor may consider material. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with the Presentation.

The Company may alter, modify or otherwise change in any manner the contents of this Presentation, without obligation to notify any person of such revision or changes. By accessing this Presentation, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

This Presentation has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. This document and its contents should not be forwarded, delivered or transmitted in any manner to any other person other than its intended recipient and should not be reproduced in any manner whatsoever.

Forward-looking Statements

This Presentation contains certain "forward-looking statements" within the meaning of applicable securities laws and regulations. These forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”, “predicts”, “plans” or “believe” or the negatives of these terms or other variations on these terms or comparable terminology. These statements include, but are not limited to, those relating to the Company’s business strategy, growth prospects, future financial performance and market opportunities.

Actual results may differ materially from such expectations, projections etc., whether directly or indirectly, expressed or implied. These forward-looking statements are based on various assumptions, expectations and other factors which are not limited to, known and unknown risks and uncertainties, including, regarding fluctuations in earnings, competitive intensity, pricing environment in the market, economic conditions affecting demand and supply, change in input costs, ability to maintain and manage key customer relationships and supply chain sources, new or changed priorities of trade, significant changes in political stability in India and globally, government regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate fluctuations, litigation among others over which the Company does not have any control. These factors may affect our ability to successfully implement our business strategy.

The Company cannot, therefore, guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events.

Travel Food Services Limited

Agenda

Introduction to Travel Food Services (TFS)

Financial Performance Update: Q1 FY26

Operational Highlights: Q1 FY26

Financial Track Record

Company Overview

Travel Food Services Limited

Introduction to Travel Food Services (TFS)

Message from Managing Director & CEO

VARUN KAPUR

Managing Director and CEO

Dear Stakeholders,

I am pleased to share that in our first quarter as a public company, TFS delivered a healthy performance, with system-wide sales rising by 26.7% and adjusted consolidated PAT increasing by 19.3%, despite temporary sector headwinds. This was driven by disciplined execution, strategic expansion, and a strong focus on cost optimisation.

Our brand partnerships continue to be a key strength — we have opened Nando’s at Delhi Terminal 3 and will soon launch Gordon Ramsay concepts at Delhi Terminal 1 and Mumbai Terminal 2. By June-end, our system-wide network reached 491 outlets across Travel QSRs and Lounges, with additionally over 70 more outlets currently under design & construction, including at Navi Mumbai and Noida airports. We are committed to strengthening our portfolio and driving strategic initiatives that will enable us to capture emerging opportunities and create lasting value for our stakeholders.

₹ 7,151 Million

System-wide Sales

26.7%

Growth in System-wide Sales

19.3%

Growth in adjusted Consolidated PAT

Travel Food Services Limited

India’s Largest Travel QSR Player and Lounge Operator

303 Million1

Air Passenger Traffic at TFS managed Airports in India

130 Brands3

In-house, International & Regional brand partners

26%2

Market Share in India Airport Travel QSRs Market

4543

Travel QSR Outlets across India and Malaysia

18 Airports3

Presence across India, Malaysia and Hong Kong

Joint Ventures

With Leading Indian Airport Operators: Adani Airport Holdings Limited GMR Airports Limited

45%2

Market Share in Indian Lounge Market

373

Lounges across India, Malaysia and Hong Kong

1. FY25 data as per CRISIL Report; 2. By FY25 revenue including Associates and Joint ventures and as per CRISIL Report as of March 31, 2025; 3. As on June 30, 2025; 4. All numbers are on a system-wide basis.

Travel Food Services Limited

Financial Performance Update: Q1 FY26

Key Highlights of Q1 FY26

Positive start to the year, driven by strong execution, strategic footprint expansion and increased profitability levels

System-wide Performance1

System-wide sales reached ₹ 7,151 million. This shows a 26.7% increase compared to last year

Sales Growth

Like-for-Like (LFL)2 sales grew by 12.5% and Net contract gains3 contributed 10.1% growth to the system-wide sales

Profit Growth

Reported Consolidated PAT increased by 59.5% year-on-year. Adjusted consolidated PAT4 grew by 19.3% year-on-year

System-wide Network Expansion

Operating 454 Travel QSR outlets and 37 lounges as of June 30, 2025. Brand portfolio increased to 130 brands as of June 30, 2025

Note : Q1 FY25 adjusted consolidated financials (and therefore YoY comparisons) exclude the one-time impact arising from the deconsolidation of the JV, Semolina Kitchens Private Limited (Semolina Kitchens), effective October 14, 2024. Therefore, for FY25, we will continue to show the adjustment for this impact up to the anniversary i.e., October 14, 2025.

1. TFS system-wide numbers are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. LFL sales growth refers to growth in revenues generated in the equivalent period of the fiscal year for Travel QSR and Lounge outlets opened for at least 12 months. Revenues in respect of closed outlets (other than temporary closures) are excluded from the calculation. LFL sales growth is calculated as revenue from Travel QSR and Lounge services in a fiscal year minus revenue from Travel QSR and Lounge outlets opened for less than 12 months, divided by the revenue from Travel QSR and Lounge services from the previous period minus the Revenue from Travel QSR and Lounge outlets that were closed during the equivalent period in the previous fiscal year. LFL calculations exclude revenues from management and other services; 3. Net Contract Gains represent revenue in outlets of the Company and its Subsidiaries/JVs/Associates open for less than 12 months. Prior period revenues for closed outlets are excluded from LFL sales and classified as contract losses. Net Contract Gains are contract gains less contract losses.; 4. Adjusted consolidated PAT growth is calculated on Q1 FY25 adjusted PAT number, which excludes net loss of Rs.267 million from Semolina Kitchens, but includes loss in proportion to TFS’ shareholding in the JV (i.e. Rs.67 million).

Travel Food Services Limited

Q1 FY26: System-wide sales grew by 26.7% and consolidated PAT grew by 19.3% YoY

System-wide sales1 (Rs. Million)

Consolidated PAT2,3 (Rs. Million)

26.7%

19.3%

5,646

7,151

950

796

Q1 FY25

Q1 FY26

Q1 FY25

2, 3

Q1 FY26

Particulars (Rs. Million)

Q1 FY26 Reported

Q1 FY25

YoY

System-wide Sales

Consolidated Sales2,3

Consolidated PAT2,3

PAT as % of consolidated Sales

7,151

5,646

26.7%

3,751

3,527

6.3%

950

796

19.3%

25.3%

22.6%

276 bps

1 TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2 Q1 FY25 consolidated sales and consolidated PAT excludes the impact arising from the deconsolidation of the JV business Semolina Kitchens Private Limited (Semolina Kitchens), effective 14th October 2024; 3. Q1 FY25 adjusted consolidated sales exclude Rs.664 million of Semolina Kitchens sales, however related party transaction elimination of Rs.92 million with Semolina Kitchens has been added back. Similarly, adjusted consolidated PAT excludes net loss of Rs.267 million from Semolina Kitchens, but includes loss in proportion to TFS’ shareholding in the JV (i.e. Rs.67 million).

Travel Food Services Limited

Q1 FY26: Key Financial Metrics at a Glance

₹7,151 Million

System-wide Sales1

₹3,751 Million

₹1,458 Million

₹950 Million

Consolidated Sales

Consolidated EBITDA

Consolidated Profit After Tax

26.7%

YoY Growth System-wide Sales

6.3%

YoY Growth2 Consolidated Sales

38.9%

EBITDA Margin

25.3%

PAT Margin

Strong Net Debt Position

Consolidated Debt: NIL

Consolidated Cash balance4 of ₹ 6,802 million as on June 30, 2025

₹6.97

Earnings per Share3

1. TFS system-wide numbers are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. Q1 FY25 adjusted consolidated financials (and therefore YoY comparisons) exclude the impact arising from the deconsolidation of the JV, Semolina Kitchens, effective October 14, 2024; 3. EPS has been calculated on profit for the period attributable to the owners of the company; 4. Cash Balance includes Cash and Cash Equivalents, other Bank balances and Current investments. 4. All numbers are consolidated, unless mentioned otherwide.

Travel Food Services Limited

System-wide Sales Driven by Healthy LFL Growth and Net Contract Gains

Industry Dynamics

Passenger traffic grew moderately by 4.5% YoY in Q1 FY26 for TFS managed airports in India due to geopolitical tensions and aircraft maintenance issues post the unfortunate Air India airplane crash towards the end of the quarter

System-wide Sales

Consolidated sales

Growth of 26.7% YoY, supported by a healthy LFL growth & Net contract gains ❖ LFL sales growth was 12.5% YoY driven by ongoing revenue

optimisation initiatives and passenger traffic growth, despite some moderation in passenger numbers

❖ Growth of 6.3% YoY driven by LFL sales growth was 5.5% YoY, despite

some moderation in passenger traffic growth

❖ Net contract gains showed a decrease by 2.7% YoY, due to expiry of

few contracts and subsequent pick-up of the new contracts by the JV

❖ Net contract gains increased by 10.1 % YoY supported by mobilisation of 57 new Travel QSR outlets in the past 12 months, mainly at the Mumbai, Hyderabad, Ahmedabad and Lucknow airports. Additionally, lounges increased from 31 to 37 lounges in past 12 months, including both the domestic & international markets.

Sales Growth

Particulars

System-wide Sales

Consolidated Sales1

YoY Growth

26.7%

6.3%

LFL Growth2

Net Contract Gains/(losses)3

12.5%

5.5%

10.1%

(2.7%)

Note: Sales growth calculations exclude growth in management and other services

1. Q1 FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business(Semolina Kitchens), effective 14th October 2024; 2. LFL sales growth refers to growth in revenues generated in the equivalent period of the fiscal year for Travel QSR and Lounge outlets opened for at least 12 months. Revenues in respect of closed outlets (other than temporary closures) are excluded from the calculation. LFL sales growth is calculated as revenue from Travel QSR and Lounge services in a fiscal year minus revenue from Travel QSR and Lounge outlets opened for less than 12 months, divided by the revenue from Travel QSR and Lounge services from the previous period minus the Revenue from Travel QSR and Lounge outlets that were closed during the equivalent period in the previous fiscal year. LFL calculations exclude revenues from management and other services; 3. Net Contract Gains represent revenue in outlets of the Company and its Subsidiaries/JVs/Associates open for less than 12 months. Prior period revenues for closed outlets are excluded from LFL sales and classified as contract losses. Net Contract Gains are contract gains less contract losses.

Travel Food Services Limited

Consolidated Profitability Driven by Growth and Cost Optimisation Initiatives

Gross Profit

❖ Gross margin increased to 83.0% in Q1 FY26 driven by efficient

procurement strategies coupled with effective supply management chain lowered cost of goods sold

Operating Profit

❖ Additionally, continuous focus on process optimisation and

operational discipline, lowered other expenses as percentage of sales by nearly 180 bps, thereby supporting EBITDA margins.

Profit After Tax

❖ PAT increased to Rs.950 million, representing a growth of 19.3% YoY on an adjusted basis, driven by sales growth and cost efficiency initiatives.

Profitability Metrics

Particulars (Rs Million, unless stated)

Consolidated Sales

Gross Profit

Gross Profit Margin

EBITDA

EBITDA Margin

Profit After Tax

Q1 FY26 Reported

Q1 FY25 Adjusted1

3,751

3,113

83.0%

1,458

38.9%

950

3,5272

2,8472

80.7%

1,244

35.3%

796

YoY

6.3%

9.4%

223bps

17.2%

361bps

19.3%

PAT Margin

25.3%

22.6%

276bps

1. Q1 FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business(Semolina Kitchens), effective 14th October 2024; (2) RPT elimination of Rs.92 million has been added back to Q1 FY25 adjusted revenues from operations, and Rs.83 million of RPT elimination has been added back to Q1 FY25 adjusted gross profit; (3) Share of Profit/(Loss) in Associate/JV includes 24.99% of loss from Semolina (as a JV) for the quarter ended Jun-24 of Rs.67 million

Travel Food Services Limited

Q1 FY26: Consolidated Profit and Loss Statement – Key Metrics

Particulars (Rs. million, unless stated)

Sales

Gross Profit

Gross Margin %

EBITDA

EBITDA Margin %

Profit Before Tax (PBT)

PBT Margin %

Share of Profit/(Loss) in Associate/JV

Tax

Profit After Tax (PAT)

PAT Margin %

Q1 FY26 Reported

Q1 FY25 Adjusted C = (A) - (B)

3,751

3,113

83.0%

1,458

38.9%

1,243

33.2%

374

950

3,527

2,847

80.7%

1,244

35.3%

951

27.0%

245

796

25.3%

22.6%

Semolina Kitchen + Other Adjustment Q1 FY251 (B)

Q1 FY25 Reported (A)

YoY Growth

6.3%

9.4%

5722

4862

17.2%

(225)

30.8%

(244)

673

19.3%

(201)3

4,099

3,333

81.3%

1,019

24.9%

707

17.2%

157

268

595

14.5%

1. Q1 FY25 financials are adjusted and exclude the impact arising from the deconsolidation of the JV business( Semolina Kitchens), effective 14th October 2024; (2) RPT elimination of Rs.92 million has been subtracted from the Q1 FY25 Semolina Kitchens sales, and Rs.83 million of RPT elimination has been subtracted from the Q1 FY25 Semolina Kitchens gross profit; (3) Share of Profit/(Loss) in Associate/JV includes 24.99% of loss from Semolina Kitchens (as a JV) for the quarter ended Jun-24 is Rs.67 million; (4) EBITDA and EBITDA margin calculation excludes other income.

Travel Food Services Limited

Operational Highlights: Q1 FY26

Expanding Airport Presence and Brand Portfolio at System-wide level

454

Travel QSR outlets

37 Lounges in domestic

and international market

130 Brands Portfolio

454

397

130

117

June 2024

June 2025

June 2024

June 2025

June 2024

June 2025

Travel Food Services Limited

Q1 FY26: Key Operational Highlights

Travel QSRs

Lounges

❖ Reached a significant milestone with 454 Travel QSR outlets at a system-

wide level operational as of June 30, 2025, reinforcing our leadership in the travel F&B sector

❖ Expanded network with 57 new outlets in the past year, strategically located

across Mumbai, Delhi, Ahmedabad, Jaipur, and Lucknow airports

❖ Enhanced system-wide brand portfolio by adding 13 new brands in the last

12 months, bringing the total to 130 as of June 30, 2025

❖ Introduced India’s first Nando’s airport outlet at Delhi Terminal 3 in May

2025, offering globally popular flavours to Indian travellers

❖ Set to debut the first-ever Gordon Ramsay F&B concepts in India, launching soon at Delhi Terminal 1 and Mumbai Terminal 2, strengthening premium dining options

❖ Expanded to a robust network of 37 premium lounges from 31 in the past 12 months at a system-wide level, with 4 new lounges in India and 2 international openings in Hong Kong and Kuala Lumpur, strengthening our global presence

❖ The Global Lounge at Kuala Lumpur International Airport was recognised by Etihad Airways for exceptional service to their guests during the quarter, underscoring our world-class standards

❖ Transitioned to a direct partnership with American Express for lounge services, replacing the previous aggregator arrangement

Travel Food Services Limited

Launched India's first Nando’s airport outlet at Delhi's Indira Gandhi International Terminal 3, bringing the world-famous brand to Indian travellers

Travel Food Services Limited

New Airport Outlets to Boost F&B Offerings

Chaayos and WoW Momo launched at Mumbai Airport Terminal 2

KFC opened at Jaipur Airport

Qmin by Taj Hotels at Bangalore Airport

Travel Food Services Limited

Idli.com opened at Lucknow Airport

Marketing and Celebration Initiatives to Enhance Customer Journey Experience

The Cricket Collection

Pan-India summer campaign to boost cold beverage sales by giving them prime placement on menus for higher visibility and seasonal demand

Season of Refreshment

Limited-edition festive combo launched for Rath Yatra festival, featuring a culturally rooted meal with Coca-Cola for added value and refreshment

Rath Yatra Special Menu

A limited-time Cricket-themed celebration at key TFS bars, with exclusive offers and lively decor to bring the stadium vibe to travellers

Travel Food Services Limited

Strategic Initiatives Underway for Enhancing Customer Experience

Integrated Lounge Access Platform

Gordon Ramsay Street Burger Debut in India

The Coca-Cola Collaboration

We have developed a technology platform that enables banking and card network partners to connect directly with our lounge access systems—eliminating intermediaries, delivering tailored solutions for distinct customer segments, driving economic value and ensuring a more seamless passenger experience.

Shortly opening the first two outlets of Gordon Ramsay’s F&B concepts in India, at Delhi Terminal 1 and Mumbai Terminal 2, marking the arrival of a world- renowned culinary brand to the Indian travel market.

Coca-Cola and TFS have entered into a deeper arrangement across multiple airports in TFS’s travel network, enhancing the F&B portfolio with global beverage brands and ensuring fast & consistent service including through product availability and elevating the customer experience at every touchpoint.

Travel Food Services Limited

Financial Track Record

Strong Track Record of Growth and Performance…

System-wide Sales1 (₹ Million)

Consolidated PAT2 (₹ Million)

Strong Double-digit System-wide Sales Growth

Outstanding Growth with Steady Margin

25.8%

44.9%

20,082

6,119

13,963

13,857

3,185

10,672

25,265

8,388

16,877

PAT margin

22.8%

20.4%

21.5%

18.6%

27.3%

3,797

2,513

2,981

FY 2023

FY 2024

FY 2025

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

FY 2023

FY 2024

FY 2025

Consolidated Revenue

JV/Associates

1. TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures; 2. Profit after tax is Profit for the period/year

Travel Food Services Limited

…With Strong Cash Flows and Returns

Operating Cash Flows1 and Cash Balance2 (₹ Million)

Net Worth3 (₹ Million)

Return on Equity4 and Return on Capital Employed5 (%)

Healthy capital structure with positive net cash

Strong financial stability and growth potential

Sustained high return on capital

Operating Cash Flows

Cash Balance

6,269

5,542

5,148

4,600

3,221

3,529

10,485

8,691

6,511

53.9%

37.8%

46.1%

51.4%

33.6%

35.5%

FY 2023

FY 2024

FY 2025

FY 2023

FY 2024

FY 2025

FY 2023

FY 2024 ROE

ROCE

FY 2025

1. The amount of cash generated by core business operations after accounting for tax payments, reflecting operational liquidity; 2. Cash Balance includes Cash and Cash Equivalents, other Bank balances and Current Investments; 3. Net Worth is computed as Equity Share Capital plus Securities premium plus Retained earnings; 4. ROE is computed as profit for the year divided by total equity; 5. ROCE is computed as EBIT divided by Capital Employed. EBIT is computed as Profit for the year plus Tax expenses plus Finance costs. Capital Employed is computed as Total Equity plus Non-Current Liabilities - Financial Liabilities - Borrowings and plus Current Liabilities - Financial Liabilities – Borrowings.; 4. All numbers and calculations are based on consolidated financials.

Travel Food Services Limited

Strong Industry Growth along with Attractive New Growth Opportunities

Indian Airport Travel QSR and Lounge Market

APAC Lounge Market

Increase in # of airports

Expanding fleet size

11%-12%3Asia Pacific Airport Lounge market over next decade High entry barriers given specialized operations

20471

300

Sep’24

138

Indian airlines have placed c.2,400 aircraft orders; ~3x the current size

Low penetration rates of air travel in India

LCCs gaining market share

Air passenger traffic per capita2

LCCs’ domestic passenger market share

0.27

India

0.81

China

5.58

USA

66%

FY16

75%

1HFY25

Strong Indian Airport Travel QSR and Lounge Industry Growth

Indian airport Travel QSR and lounge industry expected to grow at 18-20% CAGR over the next decade

 Partnerships with banks, credit card companies and

airport operators

 Preference for an experienced player with strong track

record

Indian Expressway QSR

32%-34% Expressway Travel QSR CAGR over next decade

1,000 new Wayside Amenities being setup

Expansion and modernisation of highways

 Capable of capturing growing trend as the market leader with presence in 14 airports and network of 28 lounges in India  As one of the limited players with multi-country presence, TFS is strongly positioned to expand international leveraging its experience from Malaysia and Hong Kong  TFS’s expertise in operating various amenities and multiple unlocks opportunity in untapped expressway/highway QSR market

Source: CRISIL Report; 1. As per Vision 2047; As per ACI, Airbus GMF (Global market Forecast) 2024-2043, CRISIL Report; 2. Total passengers (enplanements and deplanements) divided by total population (CY23); India passenger traffic numbers are on a financial year basis i.e. April to March. For example, CY23 corresponds to FY24 numbers; 3.Excludes China

Travel Food Services Limited

Our Key Priorities: Growth, Efficiency and Earnings

GROWTH

OPTIMISE EFFICIENCY

EARNINGS DELIVERY

Optimize product offerings and service to grow like-for- like (“LFL”) sales

Grow new space in existing markets and build strategic presence in new markets

Deliver operating synergies and leverage scale benefits

Achieve returns by driving capital efficiency

Win with People – Continued focus on our ‘People First’ strategy

Passenger traffic growth

Expand in existing terminals

Multi-site, multi- brand operations

Strict investment review process

Attraction and Retention

Pricing and inflation

Operational efficiency

Travel Food Services Limited

New terminals of existing airports

Scrutinize all operating costs

Prudent capital allocation strategy

Inclusion and Engagement

Winning concessions at new airports

Training and Development

Company Overview

Travel QSR: Extensive Portfolio of 130 Brands Across Cuisines and Formats

Diversified range of in-house and partner brands catering to specific customer requirements

Our powerhouse brand portfolio - in-house and partner brands2

s d n a r B e s u o h - n

s d n a r B r e n t r a P

45.4%1

54.6%1

In-house Brands (Owned)2

# of Brands: 39

International Brands (Franchised)2

# of Brands: 33

Regional Brands (Franchised)2

# of Brands: 58

# of Travel QSR outlets3

442

454

369

281

194

Mar-22 Mar-23 Mar-24 Mar-25

Jun-25

Brand attractiveness leads to master/multi-concession agreements

Aims to achieve a healthy mix of in-house and partner brands

Works closely with brand partners to adapt offerings to travel environment

1. % of FY25 Revenue from contracts with customers from Travel QSRs; 2. List of brands as on June 30, 2025; 3. Including outlets in India and Malaysia airports and India highways; 3. All numbers are on a system-wide basis.

Travel Food Services Limited

Lounges: Largest Lounge Network in India with Differentiated Value-add

Rapidly growing diverse lounge concepts

TFS’ unique business model

# of lounges (globally)

Airlines

Pay per use

Mar-22

Mar-23

Mar-24

Mar-25

Jun-25

India

Malaysia & HK

Credit Card issuers

Loyalty programmes

Financial Institutions & Banks

Lounge aggregators

Corporate tie ups

Upselling (Spa/retail etc.)

Owned

Future strategy

Premiumization

Sustainability

Operated

Hybrid space

Backward integration

Travel Club Lounge, Malaysia Airport

080 Lounge, Bengaluru International Airport

✓ Local and international cuisine

✓ Spa facilities

✓ Serene and comfortable spaces designed

for travellers

✓ Tech-enabled seamless journey

✓ Cinemas, libraries & work pods

✓ Curated cocktails and F&B events

1. All numbers are on a system-wide basis. Travel Food Services Limited

Digital access

Differentiation

Data analytics

Extensive and exclusive range of services for our customers

Our Journey from 1 Airport to 18 airports in India and Internationally1

Strengthened footprint from a Single Concept to a Regional Leader

Launched a Lounge at Mumbai Airport

Won bids for F&B at Chennai and Kolkata airports

SSP Group, one of the leading Travel F&B operators globally2, purchased stake in TFS

Won bids for F&B, Lounges and transit hotels at Bengaluru Airport

Launched 1st Travel QSR Outlet at Mumbai Airport

Entered New Delhi airport

2009

Our journeyin#ofairports

FY25

Expanded internationally into Malaysia

Expanded into Hong Kong with opening of Lounge

FY24

FY23

Started operations at Goa Mopa and Hyderabad airports

Won bids for F&B and Lounges at Noida Airport

2009

2010-15

2016-18

2019-21

2021-25

1. Present in 14 airports in India and 4 internationally as on June 30, 2025; 2. One of the leading Travel F&B operators globally per CRISIL Report in 2025; 2. All numbers are on a system-wide basis.

Travel Food Services Limited

Our Proven Business Model Built for Sustainable Growth

Our economic model

Growth drivers

Financial Output

LEADSTO

New Business Development

S E T A T I L I C A F

Competitiveness of Tenders

DRIVES

Brand and Lounge Partnerships

STRENGTHENS

Contract Wins

O T S D A E L

Scale Driven Synergies

INCREASES

Operational Leverage

How we drive revenue

How we manage costs

₹

 Sale of F&B products

 Increasing penetration

 Contracts with Lounge

Partners

 Procurement cost

 Labor scheduling optimization

 Rent and overheads

Growth pillars

Net Contract Gains

Existing market

LFL Sales

Passenger Growth

Inflation

Operational Efficiency

REVENUE GROWTH

PROFIT GROWTH

New market

MARGIN OPTIMISATION

Travel Food Services Limited

Present in 13/15 Largest Airports in India1 with ~94% Contract Retention Rate2

Present in 13 of 15 India’s largest airports, serving 74%3 of India’s total air passenger traffic

Secured via long-term contracts/partnerships with airport operators

TFS

Existing Presence

Under Execution (contracts won)

Jaipur

Delhi Noida

Lucknow

Guwahati

Kolkata

Bhubaneshwar

Navi Mumbai

Hyderabad

Hong Kong

Ahmedabad

Mumbai

Goa Mopa

Goa Dabolim

Bengaluru

Thiruvananthapuram

Chennai

Kuala Lumpur

Kota Kinabalu

Kuching

Strategic Partnership (JV / Associates)

India long-term concessions

✓ Delhi ✓ Bengaluru ✓ Chennai ✓ Kolkata ✓ Bhubaneshwar ✓ Goa Dabolim ✓ Noida6

24.99%

30.00%

Semolina Kitchens Private Limited (SKPL)

GHL5

✓ Goa Mopa ✓ Hyderabad

✓ Mumbai4 ✓ Ahmedabad ✓ Jaipur ✓ Lucknow ✓ Guwahati ✓ Thiruvananthapuram ✓ Navi Mumbai6

International Partnerships

✓ SSP Malaysia Sdn

Bhd (49.9% holding)

✓ SSP TFS HK Lounge

Ltd. (49.0% holding)

8.81 years Average Concession Duration

93.9% Contract Retention Rate

1. By passenger traffic (FY25) as per CRISIL Report; 2. Number of airport concession agreements which expired and were either renewed or won back as a percentage of the total number of airport concession agreements which expired; 3. FY25 data as per CRISIL Report; 4. Included under the new structure starting with FY26; 5. GHL - GMR Hospitality Limited ; 6. Under execution projects

Travel Food Services Limited

Our Partnership with Promoters Unlocks Strategic Benefits

SSP is one of the leading Travel F&B operators globally in 20241

K Hospitality is an Indian F&B player with…

3,000+ F&B and Lounge outlets 1

600+ Locations2

38 Countries1

SSP Global Presence

Several Strategic Benefits

~550 Proprietary and third-party brand/bespoke concepts2

50+ years Of experience in the Indian F&B industry

Operates, owns or invests In hospitality and food services companies3

Operational know-how and understanding of Indian consumers

Present in 35 cities in India and abroad with a portfolio of 47 proprietary brands4

International standard practices

Global reach and reputation with global brands

Understanding of Indian consumers

Culinary and operational know-how

Long-standing relationships with international airports

Oversight to enhance capital efficiency

Aids in bidding for airport concessions

Recruiting regional Indian brands

Notes: The map is for illustrative purposes only and is not and exact representation of geographical boundaries or locations; 1. As per CRISIL Report as of March 31, 2025; 2. As per CRISIL Report as of May 31, 2025; 3. Operating in QSRs, restaurants, bars, cafés, food courts, banqueting outdoor catering and corporate food services; 4. As of Mar 31, 2025

Travel Food Services Limited

Why We Win: Partner of Choice with Strong Competitive Moats

Leading player in the Travel QSR and Lounge sector in airports

Deep understanding of traveller preferences and portfolio of wide range of F&B concepts to cater to customer needs

Long relationship with airport operators, airlines, Lounge partners and F&B brand owners

Source: CRISIL Report

Travel Food Services Limited

Expertise in handling distinct challenges in an operationally complex and highly secure airport environment

Financial performance and high standards of governance

Multi-unit operations at airports

Using a wide range of brands and concepts to satisfy customer demands

Proven track record of operational expertise and financial performance

Led by experienced management and promoters

Partner of choice for airport operators

Why We Win: Deep Understanding of Traveller Preferences

Air travel can be stressful with varied Traveller Needs

Limited Time

Comfort-focused

Wide Price Range

Diverse F&B Formats

Juggling On-the-move

Arrival @ Airport

Enter Airport

Check-in

Security

Boarding / Departure

Arrival / Immigration / Baggage

TFS offers a one-stop F&B platform addressing all customer expectations through a structured approach

Rapid customer service

Wide range of F&B formats

Price points for every budget

Spa, wellness & entertainment

Airport Ancillary Services

Maximize seating and rest zones

Food@Gate delivery

Travel QSR

Lounges

Wi-Fi enabled work pods

✓

IT Infrastructure

✓

Central Kitchens

Core Enablers ✓

Custom Solutions

✓

Personalized Services

Travel Food Services Limited

Expertise in Handling a Challenging and Operationally Complex Airport Environment

F&B Travel Challenges

Ongoing Operational Complexity

Agreements with multiple brands

Special client demands and traveller complaints

Efficient IT systems and data evaluation

Potential for high attrition and police clearance for new hires

Security and police clearances for contractors

Delivery restrictions and storage space constraints

Complex tendering process with high capex requirements

Rapid cooking times with fluctuations in demand

15+ years of experience in highly complex travel industry

Experienced centralized teams to manage and oversee security clearance, movement of goods and other key compliances

Best practices, business improvement processes and technology implementation

Multiple brand outlets across various airports

Experienced management team and operational expertise

Travel Food Services Limited

Select Awards and Accolades

The Global Lounge at Kuala Lumpur International, operated by TFS–SSP JV, was honoured by Etihad Airways in Q1 2025 for exceptional guest experiences.

Tremendous recognition with 8 honours at the 2025 FAB Awards, including Airport Lounge of the Year for 080 Lounge, Sustainability Initiative for ‘Chefs for Good’ and Casual Dining Restaurant for Irish House.

2025 – Travel Food Services Limited has been certified as ‘Great Place To Work®’ from Feb 2025 to Feb 2026

2024 – Winner of Best Airport Restaurant - Idli.com

Travel Food Services Limited

WORLD’S LE ADING AIRPORT LOUNGE FIRST CLASS (2015- 2 0 2 4)

ASIA’S LE ADING DOME STI C AIRPORT LOUNGE (2021- 2 0 2 4)

Thank You

Contact Details: Name: Chhavi Agarwal, CFA Designation: Vice President- Investor Relations Email: investor.relations@travelfoodservices.com

Travel Food Services Limited (TFS)

Q1FY26 Press release

August 11, 2025

August 11, 2025: Travel Food Services Limited (TFS), a leading operator of Travel QSR outlets and Lounges in India, has announced its results for the quarter ended June 30, 2025.

Key Highlights

•

System-wide sales1 of Rs.7,151 million, representing 26.7% YoY growth in Q1FY26

LFL2 (Like-for-Like) growth was 12.5% and net contract gains3 were 10.1% for system-wide sales in Q1FY26

Consolidated PAT registered a healthy growth of 59.5% YoY, and 19.3% YoY on an adjusted basis4 in Q1FY26

Strong system-wide network of 454 Travel QSR outlets and 37 lounges as of June 30, 2025

Portfolio of 130 in-house and partner brands at system-wide level, as of June 30, 2025

Financial Performance (Rs. Million)

Particulars

System-wide Sales Consolidated Sales Consolidated PAT

Q1FY26 (Reported) 7,151 3,751 950

Q1FY25 (Adjusted)* 5,646 3,5274 7964

YoY

26.7% 6.3% 19.3%

*Q1FY25 consolidated financials (and therefore consolidated YoY comparisons) are adjusted for the one-time effect of the deconsolidation of the JV business. For more details refer Note 4.

Key Financial Highlights

➢ System-wide sales of Rs.7,151 million grew by 26.7% YoY supported by LFL growth and net contract gains:

LFL sales growth was 12.5% YoY driven by ongoing revenue optimisation initiatives and passenger traffic growth, despite some moderation in passenger numbers, as a consequence of both geopolitical tensions and the temporary grounding of aircraft for maintenance, following the tragic Air India plane crash incident in Ahmedabad towards the end of the quarter

o Net contract gains increased by 10.1% YoY, as 57 new Travel QSR outlets were mobilised in the past 12 months, mainly at the Mumbai, Hyderabad, Ahmedabad and Lucknow airports. Additionally, 31 lounges increased to 37 lounges at a system-wide level, as of June 30, 2025.

➢ Consolidated sales of Rs.3,751 million grew by 6.3% YoY, on an adjusted basis. LFL sales growth was 5.5% YoY, despite some moderation in passenger traffic growth as referred to above. Net contract gains showed a decrease by 2.7% YoY, due to expiry of few contracts and subsequent pick-up of new contracts by the JV.

➢ Consolidated PAT increased to Rs.950 million, representing a growth of 19.3% YoY on an adjusted basis,

driven by sales growth and cost efficiency initiatives.

o Gross margin increased to 83.0% as efficient procurement strategies coupled with effective

supply chain management lowered cost of goods sold.

o Additionally, continuous focus on process optimisation, efficient occupancy cost management and operational discipline, lowered other expenses as a percentage of sales by nearly 180 bps, thereby supporting operating margins.

Impact of the deconsolidation of the JV business

Q1FY25 adjusted consolidated financials (and therefore YoY comparisons) exclude the one-time impact arising from the deconsolidation of the JV, Semolina Kitchens Private Limited (Semolina Kitchens), effective October 14, 2024. Therefore, for FY25, we will continue to show the adjustment for this impact up to the anniversary i.e., October 14, 2025.

Key Operational Highlights

•

Travel QSR Outlets

o Partnered and opened 13 more brands in last 12 months, expanding the system-wide portfolio

to 130 brands as on June 30, 2025

o Successfully increased our footprint with 57 new Travel QSR outlets in the past year, strengthening presence and reach with 454 outlets at the system-wide level as on June 30, 2025

Launched the country’s first-ever Nando’s outlet in an airport at Delhi T3 Terminal and shortly opening the first two outlets of Gordon Ramsay’s F&B concepts in India at Delhi Terminal 1 and Mumbai Terminal 2

•

Lounges

o System-wide network of 37 lounges with best-in-class services across domestic and international

markets as on June 30, 2025

In the past year, 31 lounges increased to 37 lounges at a system-wide level, 4 lounges in the domestic market and 2 lounges in the international markets (1 each, in Hong Kong and Malaysia)

• Recent Awards

o Successfully won eight awards at the prestigious 2025 FAB Awards in Barcelona, with recognition spanning across categories such as F&B innovation, sustainability, and inclusivity, thereby reinforcing TFS’ strong position in airport hospitality in the Asia Pacific Region

o Our Global Lounge at Kuala Lumpur International Airport, Malaysia, was honoured by Etihad Airways for service excellence to the Airline’s guests in the quarter. The award underscores our commitment to exceptional guest experience, premium amenities, and culturally inspired hospitality.

Commenting on the Q1FY26 performance, Mr. Varun Kapur, Managing Director and CEO, Travel Food Services Limited., said:

‘I am pleased to share that in our first quarter as a public company, TFS delivered a healthy performance, with system-wide sales rising by 26.7% and adjusted consolidated PAT increasing by 19.3%, despite temporary sector headwinds. This was driven by disciplined execution, strategic expansion, and a strong focus on cost optimisation.

Notes:

TFS system-wide numbers (including system-wide sales) are based on TFS’ system-wide presence covering TFS, its subsidiaries, associates and joint ventures.

LFL (Like-for-Like) sales growth refers to growth in revenues generated in the equivalent period of the fiscal year for Travel QSR and Lounge outlets opened for at least 12 months. Revenues in respect of closed outlets (other than temporary closures) are excluded from the calculation. LFL sales growth is calculated as revenue from Travel QSR and Lounge services in a fiscal year minus revenue from Travel QSR and Lounge outlets opened for less than 12 months, divided by the revenue from Travel QSR and Lounge services from the previous period minus the Revenue from Travel QSR and Lounge outlets that were closed during the equivalent period in the previous fiscal year. LFL calculations exclude revenues from management and other services.

3. Net Contract Gains represent revenue in outlets of the Company and its Subsidiaries/JVs/Associates open for less than 12 months. Prior period revenues for closed outlets are excluded from LFL sales and classified as contract losses. Net Contract Gains are contract gains less contract losses.

4. Q1FY25 adjusted consolidated sales exclude Rs.664 million of Semolina Kitchens sales, however related party transaction elimination of Rs.92 million with Semolina Kitchens has been added back. Similarly, adjusted consolidated PAT excludes net loss of Rs.267 million from Semolina Kitchens, but includes loss in proportion to TFS’ shareholding in the JV (i.e. Rs.67 million).

About the Company:

Travel Food Services Limited (TFS) is a leading player in fast-growing Indian airport Travel QSR and Lounge sectors with system-wide presence at 18 airports across India, Malaysia and Hong Kong. The Travel QSR business comprises a range of curated food and beverage concepts, which have been adapted to cater to evolving customers’ demands. With portfolio of 130 partner and in-house brands, TFS operates 454 Travel QSRs at a system-wide level across India and Malaysia as of June 30, 2025. TFS’ has Travel QSR outlets at select highway sites in India.

The Lounge business comprises designated areas within airport terminals, accessible primarily by first and business class passengers, members of airline loyalty programmes, select credit card and debit card holders and members of other loyalty programmes. TFS operates a network of 37 Lounges at a systemwide level across India, Malaysia and Hong Kong as of June 30, 2025.

TFS is founded by one of India’s leading hospitality players, K Hospitality Corp, and has partnered with the UK listed SSP Group plc (SSP). TFS benefits from K Hospitality Corp’s 50-year-old expertise across the F&B industry in the Indian sub-continent, and SSP’s 60 years of rich experience of the global travel retail market. TFS is transforming the travel experience for travellers through a variety of cuisines across its diverse formats of restaurants, cafes, bars, food courts, and lounges.

For more information, please visit www.travelfoodservices.com

For further information please contact:

Vikas Vinod Kapoor Whole-time Director & Chief Financial Officer Travel Food Services Limited Email: investor.relations@travelfoodservices.com Website: www.travelfoodservices.com

Chhavi Agarwal, CFA Vice President- Investor Relations Travel Food Services Limited Email: investor.relations@travelfoodservices.com Website: www.travelfoodservices.com

For media queries, please reach out to:

Manish Kadam +91 93242 86677 Manish@conceptpr.com

Karishma Maindan +91 98333 28499 karishma@conceptpr.com

Safe Harbor

Certain statements in this press release may not be based on historical information or facts and may be ‘forward looking statements’ within the meaning of applicable laws and regulations, including, but not limited to, those relating to general business plans and strategy of the Company, its future outlook and growth prospects, the competitive and regulatory environment in which the Company operates and management’s current views and assumptions (which may not remain constant due to risks and uncertainties involved.

These forward-looking statements are subject to a number of risks and uncertainties and many other factors that could cause actual results to differ materially from those expected by the relevant forward-looking statements. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation, and labour relations. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly amend, modify, update or revise any of these forward-looking statements to reflect subsequent development, information, events, circumstances or otherwise.

This press release does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s securities.

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Travel Food Services Limited has informed the Exchange regarding a press release dated August 11, 2025, titled "Investor Presentation and Press Release on Un-audited Financial Results for the quarter ...

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