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13 Nov 2025
IRCTC - Indian Railway Catering and Tourism Corporation Limited Headquarters
📊 Stock Analysis
Complete financial analysis with key metrics and investment outlook
IRCTC Q2 FY2026 Financial Performance
Indian Railway Catering & Tourism Corporation Ltd (NSE: IRCTC) reported its Q2 FY26 (July–September 2025) results, posting steady growth in revenue and profit, supported by consistent performance across e-ticketing, catering, and packaged drinking water segments.
The company also declared an interim dividend of ₹5 per share (250% of face value) for FY2025-26, with record date set as November 21, 2025.
Stock Performance & Key Metrics
As of November 13, 2025:
- Current Price: ₹710
- Market Cap: ₹56,816 Crores
- Stock P/E: 42.5
- Industry P/E: 38.8
- Book Value: ₹53.2 per share
- Dividend Yield: 1.13%
- ROCE: 49.0%
- ROE: 37.2%
- Debt to Equity: 0.02
- Debt: ₹78.2 Crores
- Face Value: ₹2
- EPS: ₹17.1
Q2 FY2026 Financial Highlights
| Particulars | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Revenue / Total Income | ₹1,146 Cr | ₹1,064 Cr | ↑ 8% |
| EBITDA | ₹404 Cr | ₹373 Cr | ↑ 8% |
| Net Profit (PAT) | ₹342 Cr | ₹308 Cr | ↑ 10% |
| EPS (₹) | 4.27 | 3.85 | ↑ 11% |
Revenue growth was primarily driven by steady traction in catering and tourism services and consistent e-ticketing volumes. Margins remained robust, supported by cost optimization and improved efficiency.
Business Highlights
- The Board approved an interim dividend of ₹5 per share (250%) for FY26.
- Record date for dividend eligibility: November 21, 2025.
- Exceptional items for the quarter include ₹5.8 Cr income from reduced custody charges on Tejas Express operations.
- The company won arbitration proceedings in its favor at the Supreme Court, resulting in no financial impact from prior contractor claims.
- Rail Neer division continues stable operations with improved cost efficiency.
Management Commentary & Notes
- The Board approved the results in its meeting held on November 12, 2025 after review by the Audit Committee.
- The company’s results have been prepared in accordance with Ind AS and SEBI (LODR) Regulations.
- Arbitration cases with catering licensees have been resolved favorably, with no liability to IRCTC following the Supreme Court’s ruling in November 2025.
- The National Anti-Profiteering Authority (NAA) matter has been transferred to the Competition Commission of India (CCI) for further adjudication; no material financial impact expected.
H1 FY2026 Summary
| Particulars | H1 FY26 | H1 FY25 | YoY Change |
|---|---|---|---|
| Total Revenue | ₹2,306 Cr | ₹2,110 Cr | ↑ 9% |
| Net Profit (PAT) | ₹672 Cr | ₹627 Cr | ↑ 7% |
| EPS (₹) | 8.40 | 7.84 | ↑ 7% |
About the Company
Indian Railway Catering & Tourism Corporation Ltd (IRCTC), incorporated in 1999, is a Navratna PSU under the Ministry of Railways, and the sole authorized entity for online railway ticketing, catering services, and packaged drinking water supply across India’s vast railway network.
The company’s business segments include:
- Internet Ticketing (IRCTC e-Ticketing Platform)
- Catering & Hospitality Services
- Tourism (Domestic and International Packages)
- Packaged Drinking Water (Rail Neer)
IRCTC plays a pivotal role in India’s digital public infrastructure for travel and logistics, serving millions of passengers daily.
Outlook
The company expects steady growth through:
- Expansion of tourism and hospitality verticals
- Digital transformation in ticketing and onboard services
- Continued efficiency improvement in Rail Neer and catering
- Sustained dividend policy aligned with cash flow strength
IRCTC remains a steady compounder in the PSU space, supported by its monopoly business model, strong balance sheet, and consistent profitability.
*For full results, refer to the official filing on BSE*
*Data as of November 13, 2025 | Results approved by Board of Directors on November 12, 2025*
