TBO Tek Ltd.
TBOTEKConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
10 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 10 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20240612 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240820 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241118 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250218 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250528 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250807 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251110 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260217 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260604 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260805 | 2026-06-30 | yes |
TBOTEK
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,687.20 |
| 52-week range | 1018.0 – 1745.1 |
| Return 1M | -2.2% |
| Return 3M | 15.5% |
| Return 1Y | 6.43% |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 926.00 |
| Other income | 13.00 |
| Total income | 939.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 179.00 |
| Finance costs | 15.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.44 | 0.00 |
| institutions foreign | 0.29 | -0.01 |
| institutions domestic | 0.21 | 0.01 |
| mutual funds | 0.18 | 0.01 |
| public | 0.54 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 10 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 369.00 | 418.00 | 451.00 | 422.00 | 446.00 | 511.00 | 568.00 | 784.00 | 814.00 | 926.00 |
| Other income | 7.00 | 15.00 | 7.00 | 17.00 | 16.00 | 13.00 | 15.00 | 12.00 | 13.00 | 13.00 |
| Total income | 376.00 | 434.00 | 458.00 | 439.00 | 463.00 | 524.00 | 583.00 | 797.00 | 827.00 | 939.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 79.00 | 82.00 | 95.00 | 100.00 | 99.00 | 103.00 | 108.00 | 165.00 | 170.00 | 179.00 |
| Finance costs | 4.00 | 6.00 | 6.00 | 6.00 | 5.00 | 5.00 | 9.00 | 15.00 | 15.00 | 15.00 |
| Depreciation and amortisation | 15.00 | 12.00 | 13.00 | 13.00 | 14.00 | 14.00 | 16.00 | 26.00 | 30.00 | 33.00 |
| Other expenses | 225.00 | 258.00 | 273.00 | 267.00 | 282.00 | 334.00 | 372.00 | 519.00 | 539.00 | 608.00 |
| Total expenses | 323.00 | 358.00 | 386.00 | 386.00 | 401.00 | 456.00 | 504.00 | 725.00 | 753.00 | 835.00 |
| Profit before exceptional items and tax | 53.00 | 76.00 | 71.00 | 53.00 | 62.00 | 68.00 | 78.00 | 71.00 | 74.00 | 103.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 4.00 | 9.00 | 8.00 | 0.00 | -5.00 | 0.00 | 0.00 |
| Profit before tax | 53.00 | 76.00 | 71.00 | 57.00 | 71.00 | 75.00 | 78.00 | 66.00 | 74.00 | 103.00 |
| Current tax | 4.00 | 16.00 | 12.00 | 6.00 | 8.00 | 14.00 | 16.00 | 10.00 | 12.00 | 19.00 |
| Deferred tax | 2.00 | -1.00 | -1.00 | 1.00 | 4.00 | -2.00 | -5.00 | 2.00 | 1.00 | 1.00 |
| Tax expense | 7.00 | 15.00 | 11.00 | 7.00 | 12.00 | 12.00 | 11.00 | 12.00 | 14.00 | 20.00 |
| Profit for the period | 46.00 | 61.00 | 60.00 | 50.00 | 59.00 | 63.00 | 68.00 | 54.00 | 60.00 | 83.00 |
| Profit attributable to owners | 47.00 | 61.00 | 60.00 | 50.00 | 59.00 | 63.00 | 68.00 | — | 60.00 | 83.00 |
| Profit attributable to non-controlling interests | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Other comprehensive income | -7.00 | 2.00 | 8.00 | -18.00 | 13.00 | 27.00 | 23.00 | 8.00 | 30.00 | 3.00 |
| Total comprehensive income | 40.00 | 63.00 | 69.00 | 32.00 | 72.00 | 90.00 | 91.00 | 62.00 | 90.00 | 87.00 |
| Earnings per share, basic | 4.58 | 5.85 | 5.71 | 4.70 | 5.54 | 5.90 | 6.32 | 5.03 | 5.62 | 7.77 |
| Earnings per share, diluted | 4.52 | 5.77 | 5.64 | 4.64 | 5.47 | 5.85 | 6.27 | 4.99 | 5.59 | 7.74 |
Annual results, as filed
| Line | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|
| Revenue from operations | 1,393.00 | 1,737.00 | 2,677.00 |
| Other income | 23.00 | 62.00 | 51.00 |
| Total income | 1,415.00 | 1,799.00 | 2,729.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 277.00 | 376.00 | 546.00 |
| Finance costs | 11.00 | 23.00 | 44.00 |
| Depreciation and amortisation | 36.00 | 52.00 | 86.00 |
| Other expenses | 857.00 | 1,086.00 | 1,762.00 |
| Total expenses | 1,181.00 | 1,537.00 | 2,438.00 |
| Profit before exceptional items and tax | 234.00 | 262.00 | 291.00 |
| Exceptional items | -7.00 | 13.00 | 2.00 |
| Profit before tax | 227.00 | 275.00 | 293.00 |
| Current tax | 26.00 | 42.00 | 52.00 |
| Deferred tax | 0.00 | 3.00 | -3.00 |
| Tax expense | 26.00 | 45.00 | 49.00 |
| Profit for the period | 201.00 | 230.00 | 244.00 |
| Profit attributable to owners | 202.00 | 230.00 | 244.00 |
| Profit attributable to non-controlling interests | -2.00 | 0.00 | 0.00 |
| Other comprehensive income | -3.00 | 6.00 | 89.00 |
| Total comprehensive income | 197.00 | 236.00 | 333.00 |
| Earnings per share, basic | 19.85 | 21.73 | 22.88 |
| Earnings per share, diluted | 19.67 | 21.48 | 22.76 |
Balance sheet, as filed
| Line | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|
| Total assets | 4,857.00 | 5,892.00 | 6,214.00 | 7,272.00 | 9,309.00 |
| Non-current assets | 381.00 | 394.00 | 415.00 | 496.00 | 1,689.00 |
| Current assets | 4,476.00 | 5,498.00 | 5,799.00 | 6,776.00 | 7,620.00 |
| Property, plant and equipment | 80.00 | 74.00 | 78.00 | 112.00 | 114.00 |
| Capital work-in-progress | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 |
| Goodwill | 89.00 | 92.00 | 91.00 | 102.00 | 555.00 |
| Other intangible assets | 180.00 | 191.00 | 176.00 | 200.00 | 950.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade receivables | 3,307.00 | 3,770.00 | 4,061.00 | 4,523.00 | 5,314.00 |
| Cash and cash equivalents | 751.00 | 1,072.00 | 962.00 | 1,769.00 | 1,022.00 |
| Total equity and liabilities | 4,857.00 | 5,892.00 | 6,214.00 | 7,272.00 | 9,309.00 |
| Equity | 545.00 | 1,076.00 | 1,195.00 | 1,386.00 | 1,551.00 |
| Equity share capital | 10.00 | 11.00 | 11.00 | 11.00 | 11.00 |
| Other equity | 534.00 | 1,065.00 | 1,184.00 | 1,375.00 | 1,540.00 |
| Total liabilities | 4,313.00 | 4,816.00 | 5,019.00 | 5,886.00 | 7,758.00 |
| Non-current liabilities | 256.00 | 246.00 | 183.00 | 733.00 | 696.00 |
| Current liabilities | 4,056.00 | 4,571.00 | 4,837.00 | 5,153.00 | 7,062.00 |
| Borrowings, non-current | 135.00 | 115.00 | 90.00 | 605.00 | 557.00 |
| Borrowings, current | 0.00 | 23.00 | 46.00 | 0.00 | 88.00 |
| Trade payables | 3,603.00 | 4,078.00 | 4,321.00 | 4,629.00 | 5,422.00 |
Cash flow, as filed
| Line | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|
| Net cash from operating activities | 222.00 | -43.00 | 68.00 | 188.00 | 46.00 |
| Net cash from investing activities | -153.00 | -7.00 | -220.00 | 141.00 | -485.00 |
| Net cash from financing activities | 115.00 | 375.00 | 365.00 | 439.00 | 441.00 |
| Purchase of property, plant and equipment | 9.00 | 2.00 | 6.00 | 4.00 | 13.00 |
| Net increase in cash | 188.00 | 320.00 | 210.00 | 807.00 | 60.00 |
| con:CFO.BEFORE_TAX | 248.00 | -29.00 | 99.00 | 208.00 | 100.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 26.00 | 15.00 | 31.00 | 19.00 | 53.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 986.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 988.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 128.00 | 1.00 | 36.00 | 20.00 | 381.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2024-05-15 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 44.41 | 44.41 | 44.41 | 44.41 | 44.41 | 0.44 | 0.44 | 0.44 | 0.44 | 0.44 |
| Domestic institutions | 7.91 | 6.60 | 6.60 | 11.78 | 17.88 | 0.19 | 0.19 | 0.19 | 0.20 | 0.21 |
| Mutual funds | — | — | — | — | — | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 |
| Insurance companies | 1.10 | 0.58 | 0.33 | 1.33 | 1.34 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Foreign institutions | 40.26 | 42.79 | 43.06 | 38.05 | 31.61 | 0.30 | 0.31 | 0.31 | 0.30 | 0.29 |
| Government | — | — | — | — | — | — | 0.00 | 0.00 | — | — |
| Public | 53.37 | 53.37 | 53.38 | 53.42 | 53.49 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 |
| Non-institutional | 5.20 | 3.98 | 3.72 | 3.59 | 3.99 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 | 108587787 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Tek Travels DMCC | Subsidiary | Any other transaction, Sale of goods or services | 3,980,800,000.00 | 13 |
| BookaBed AG | Companies over which the Group exe | Any other transaction | 916,530,000.00 | 9 |
| JUMBONLINE ACCOMMODATIONS & SERVICES, S.L.U. | Companies over which the Group exe | Any other transaction, Interest received, Loan | 443,110,000.00 | 7 |
| TBO Holidays Brasil Agencia De Viagens E Reservas LTDA | Companies over which the Group exe | Any other transaction, Sale of goods or services | 402,480,000.00 | 5 |
| TBO Holidays Europe B.V. | Companies over which the Group exe | Any other transaction, Sale of goods or services | 181,060,000.00 | 3 |
| Jumbonline Accommodations & Services, S.L.U. | Companies over which the Group exe | Any other transaction | 93,350,000.00 | 3 |
| TBO Tek Ireland Limited | Companies over which the Group exe | Any other transaction | 89,970,000.00 | 3 |
| TBO LLC | Companies over which the Group exe | Any other transaction, Sale of goods or services | 67,570,000.00 | 5 |
| TBO Holidays Hongkong Limited | Companies over which the Group exe | Any other transaction, Sale of goods or services | 58,000,000.00 | 3 |
| Ankush Nijhawan | Key Management Personnel | Any other transaction, Remuneration | 52,910,000.00 | 6 |
| Gaurav Bhatnagar | Key Management Personnel | Any other transaction, Interest paid, Remuneration | 38,750,000.00 | 8 |
| United Experts for Information Systems technology Co. | Companies over which the Group exe | Any other transaction, Interest received, Loan, Sale | 29,280,000.00 | 6 |
| Tek Travels Arabia for Travel and Tourism | Companies over which the Group exe | Any other transaction, Sale of goods or services | 26,800,000.00 | 5 |
| Vikas Jain | Key Management Personnel | Remuneration | 15,320,000.00 | 1 |
| V.K. Balaji | Key Management Personnel | Remuneration | 11,960,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-05 | Q1FY27 | Read the call | |
| 2026-06-04 | Q4FY26 | Read the call | |
| 2026-02-17 | Q3FY26 | Read the call | |
| 2025-11-10 | Q2FY26 | Read the call | |
| 2025-08-07 | Q1FY26 | Read the call | |
| 2025-05-28 | Q4FY25 | Read the call | |
| 2025-02-18 | Q3FY25 | Read the call | |
| 2024-11-18 | Q2FY25 | MR. ANIL BERERA, PRESIDENT-STRATEGY | Read the call |
| 2024-08-20 | Q1FY25 | Read the call | |
| 2024-06-12 | Q4FY24 | RELATIONS | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY26 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|
| Capital allocation | Apart from this the other big event in this quarter was the acquisition of Classic Vacation. | So, that line would have all the hedging cost as well as MTM impact of the hedges as well as if there are any unhedged positions, if there is any gain… | This has been primarily due to consolidation of financial numbers of our new acquisition Jumbonline as well as due to the increase in the overall mix … | — |
| Costs | — | — | And second, so if I look at both your employee cost and other expenses, right; on employee cost, last 1-2 years before this period, at least on the te… | — |
| Debt and cash | We have experimented this quarter and we do not do anticipation but instead of that we have a negative working capital. | — | Notably, our working capital continues to remain negative. | Cash flow from operations has been negative even though the FCF has been negative this year. |
| Demand | On the demand side the business is far more fragmented because we are servicing the travel agent market which is millions a travel agencies across hun… | — | I would like to highlight that the booking window for Jumbonline business is longer than our existing business, as summer bookings in Europe source ma… | We believe this is a very important, I would not say pivot, but an adjacency to our current business where we will start anchoring more around buildin… |
| Guidance | We expect that trend to continue for the next couple of quarters as well. | So, it has played out as we expected it to. | So, considering the current situation, we believe that 2.5% should be a steady state growth or the take rate number for air business and similarly, fo… | I can't give qualitative guidance, but what I can say that the trajectory for Q1 is definitely a shade better than Q4. And hopefully, we will continue… |
| Margin | The EBITDA before M&A cost, as we acquired Classic Vacations this quarter and the cost is appearing in our numbers but before M&A cost we delivered an… | The second critical cause of platform health is the conversion of gross profit into adjusted EBITDA, which reflects operating efficiencies and executi… | Adjusted EBITDA margins and PAT margins for FY24 stood at 19.35% and 14.40%, respectively. | But that spend started to taper off by Q4 and we have shown data in our shareholders letter, you will see that in Jan and Feb, we were seeing very str… |
| People | Just wanted to check where are we in terms of the entire payroll cost and the international hiring that was there on track. | — | — | We just want to be clear, while there is a strong focus on cost control and hiring increases in different parts of the business, we do recognize that … |
| Pricing | So, how does the AI work from a pricing prospect? | — | I think there was a base effect over there in the pricing that has affected, but next year onwards? | Additionally, while you were mentioning that Q1 may be a positive growth quarter both on a sequential and YoY basis, given some of the impacts around … |
| Revenue growth | I think your business of course this quarter did mid-20s revenue growth, 20% GP growth. | Our question is on your commentary and expectation which we have given out earlier on organic business revenue growth accelerating versus SG&A growth … | In the quarter ended 31st March 2024, our revenue from operations surged to INR 369 Crore, marking a growth of 31% YoY. | In spite of the fact that our largest source market, which is the Middle East market, and Israel, which is one of our Top 7 source markets as a countr… |