Thomas Cook (India) Limited
11,117words
3turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
₹85.6
3.3%
₹3,261
45.8%
₹67,025
₹5,336
24.2%
₹8,360
1.3%
73%
27%
Guidance — 10 items
Private Safaris
opening
“o • • Southern Africa: Performance remained strong, with revenue growing by 34% in FY26 and 23% y-o-y in Q4FY26 by continued upselling across Groups and MICE segments, despite weather-related disruptions in certain regions.”
Private Safaris
opening
“East Africa: Performance was driven by charter operations and strong demand from key source markets, resulting in revenue growth of 18% in FY26 and 87% y-o-y in Q4 FY26, along with continued traction in direct local sales.”
Private Safaris
opening
“Australia, New Zealand, UK– key markets contributing to current growth; Slowdown in markers like US & Canada being offset by market likek Germany, France, Ireland ~16% CAGR India’s educational tourism market is projected to grow at ~16% CAGR through 2030.”
Private Safaris
opening
“FY25 FY26 Q4 FY25 Q4FY26 FY25 FY26 Q4 FY25 Q4FY26 Q3FY26 Q4FY26 24 K E Y H I G H L I G H T S T R A V E L & R E L A T E D S E R V I C E S 2525 T R A V E L & R E L A T E D S E R V I C E S Multi-segment leader.”
Private Safaris
opening
“One-stop solution for every traveler’s needs ₹67 Bn FY26 Revenue ▲3.6% YoY 73% B2B (DMS + MICE + CT) 27% B2C – Leisure Holidays Revenue Mix 5 Continents 100K+ ~800 DMS Footprint 23 countries, 6,500+ partners MICE Pax FY26 400+ groups annually Corporate Travel Clients 9+ yr avg tenure Leisure Holidays Thomas Cook · SOTC End-to-end holiday packages for Indian travellers.”
Full-stack corporate travel management
opening
“20% ~12% CAGR ~72% 28,186 29,092 22,919 18,123 7,209 1,910 FY21 FY22 FY23 FY24 FY25 FY26 Customer B2B Partners 3% USA · Canada Key Source Markets– Italy, India, UK, Ukrain, Netherlands K E Y S O U R C E M A R K E T S East Africa Kenya· Tanzania · Uganda · Ethopia · Rwanda · Zanzibar Southern Africa South Africa · Namibia · Lesotho · Zambia · Zimbabwe · Madagascar · Botswana Diversified portfolio spanning bespoke travel, luxury safaris, guided tours, group programs, and corporate incentives.”
Full-stack corporate travel management
opening
“in Q4 ( 23%) 2.0 lakh Room Nights Sold in Q4 ( 28%) 61% Resort Occupancy in Q4 FY26 vs 58% LY 81% Guest Ratio in Q4 FY26 vs 74% LY Rs.”
Full-stack corporate travel management
opening
“44 D E I – H I S T O R I C A L G R O W T H T R A J E C T O R Y Sites Operated CAGR ~9% 267 265 271 264 218 170 109 87 Partnerships (No.”
Full-stack corporate travel management
opening
“of Captures (Mn) CAGR ~8% 134 133 129 125 CAGR ~25% 130 114 105 108 62 35 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Revenue from Operations (Rs mn) CAGR ~38% 9,227 8,423 8,360 7,897 4,601 1,661 EBIT (Rs mn) 544 465 268 110 -65 FY21 FY22 FY23 FY24 FY25 FY26 -493 FY21 FY22 FY23 FY24 FY25 FY26 EBIT Margin 6% 6% 3% 1% -1% -30% FY21 FY22 FY23 FY24 FY25 FY26 45 F I N A N C I A L D A T A I N C O M E S T A T E M E N T Particulars Revenue from Operations Other Income I.”
S T R A T E G I C D I V E S T M E N T
opening
“No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness, correctness or fairness of the information, estimates, projections and opinions contained in this presentation.”
Risks & concerns — 3 flagged
particularly consequential, as this quarter represents DEI’s peak operating season • EBIT consequently stood impacted by dual impact of lower topline and an increase in costs related to WeC.
— Private Safaris
Australia, New Zealand, UK– key markets contributing to current growth; Slowdown in markers like US & Canada being offset by market likek Germany, France, Ireland ~16% CAGR India’s educational tourism market is projected to grow at ~16% CAGR through 2030.
— Private Safaris
Structural Operating Leverage India’s largest integrated Travel Services Platform Global reach 23 countries Scale leverage & common buying Repeat and long tenure customer base Asset-Light, Low Working Capital Model B2B + B2C - across Leisure, MICE, Corporate & DMS Multi-geography presence diversifies risk and cushions region-specific demand cycles Multiple brands, one buying pool - the portfolio aggregates demand to leverage scae Trust-driven demand that compounds over time.
— Full-stack corporate travel management
Speaking time
1
1
1
Opening remarks
Private Safaris
o • • Southern Africa: Performance remained strong, with revenue growing by 34% in FY26 and 23% y-o-y in Q4FY26 by continued upselling across Groups and MICE segments, despite weather-related disruptions in certain regions. East Africa: Performance was driven by charter operations and strong demand from key source markets, resulting in revenue growth of 18% in FY26 and 87% y-o-y in Q4 FY26, along with continued traction in direct local sales. 12 S E G M E N T P E R F O R M A N C E – T R A V E L & R E L A T E D S E R V I C E S SE G ME NT RE VE NUE BRE A K DO W N (₹ Mn ) Segment (A) B2C TOTAL Domestic Outbound Long Haul Short Haul (B) B2B TOTAL DMS Total India DMS International DMS MICE Corporate Government Corporate Travel* FY25 17,504 1,661 15,844 10,980 4,864 49,346 34,478 6,292 28,186^ 13,578 12,563 1,015 1,290 FY26 18,874 1,426 17,448 11,752 5,696 50,463 35,559 6,467 29,092 13,364 13,364 - 1,541 (C) Inter Segment Elimination (2,162) (2,313) Total (A+B+C) 64,689
Full-stack corporate travel management
air, hotel, ,transportation Tech-led: AI-driven OBT Brand trust across 145+ years · Omnichannel (450+ touchpoints) · Scale execution capability · C-suite relationships · Differentiated experiential offerings 23-country owned network · 6,500+ global partners · 5 continents Tech enabled platforms · Long-term enterprise relationships · High repeat usage 26 T R A V E L & R E L A T E D S E R V I C E S : T H E M O A T Scale. Distribution. Multi-Brand Control. Structural Operating Leverage India’s largest integrated Travel Services Platform Global reach 23 countries Scale leverage & common buying Repeat and long tenure customer base Asset-Light, Low Working Capital Model B2B + B2C - across Leisure, MICE, Corporate & DMS Multi-geography presence diversifies risk and cushions region-specific demand cycles Multiple brands, one buying pool - the portfolio aggregates demand to leverage scae Trust-driven demand that compounds over time. Scalable, low-capex growth 01 02 03 04 Multi segment portfolio
S T R A T E G I C D I V E S T M E N T
D E M E R G E R O F S T E R L I N G H O L I D A Y R E S O R T S 51 51 D E M E R G E R O F S T E R L I N G H O L I D A Y R E S O R T S Existing Corporate Structure Demerger TCIL Current Segments Financial Services Travel & Related Services Resorts • Includes TCIL’s 6 Nature Trails resorts: adventure holidays, education trips and corporate getaways After Demerger TCIL Thomas Cook (India) Limited SHRL Sterling Holiday Resorts Limited D e m e r g e r Financial Services Travel & Related Services Resorts • Continues to hold its current number of shares in SHRL post demerger • Promoter and public shareholding pattern to remain similar • Resorts & Resort Management business demerged into SHRL • Includes TCIL’s 6 Nature Trails resorts: adventure holidays, education trips and corporate getaways Shares of SHRL will be listed on BSE and NSE • 0.81 SHRL shares for every 1 TCIL share Subject to NCLT + regulatory approvals Capital Restructuring 01 Share entitlement TCIL shareholders receive SHRL shar