Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹670, the stock trades at a trailing P/E ratio of 68.4x. Average trailing P/E is 28x in the Hospitality industry in India. Total returns to shareholders of 108% over the past three years. Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹9.66 (vs ₹9.57 in FY 2025) Full year 2026 results: EPS: ₹9.66 (up from ₹9.57 in FY 2025). Revenue: ₹5.63b (down 1.3% from FY 2025). Net income: ₹831.5m (up 1.3% from FY 2025). Profit margin: 15% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₹529, the stock trades at a trailing P/E ratio of 56.2x. Average trailing P/E is 26x in the Hospitality industry in India. Total returns to shareholders of 69% over the past three years. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: ₹3.28 (vs ₹2.44 in 3Q 2025) Third quarter 2026 results: EPS: ₹3.28 (up from ₹2.44 in 3Q 2025). Revenue: ₹1.93b (up 29% from 3Q 2025). Net income: ₹282.1m (up 35% from 3Q 2025). Profit margin: 15% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to ₹596. The fair value is estimated to be ₹745, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹1.93 (vs ₹2.80 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.93 (down from ₹2.80 in 2Q 2025). Revenue: ₹1.25b (down 19% from 2Q 2025). Net income: ₹166.3m (down 31% from 2Q 2025). Profit margin: 13% (down from 16% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹673, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 36x in the Hospitality industry in India. Total returns to shareholders of 91% over the past three years. Aankondiging • Sep 17
India Tourism Development Corporation Limited Declares Dividend India Tourism Development Corporation Limited in the annual general meeting held on September 16, 2025 declared a dividend of 29% (i.e. INR. 2.90 per share) aggregating INR 248.8 million approx. on the equity share capital of the company as recommended by the Board of Directors. New Risk • Sep 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹654, the stock trades at a trailing P/E ratio of 69.9x. Average trailing P/E is 37x in the Hospitality industry in India. Total returns to shareholders of 77% over the past three years. Declared Dividend • Aug 27
Dividend increased to ₹2.90 Dividend of ₹2.90 is 15% higher than last year. Ex-date: 9th September 2025 Payment date: 15th October 2025 Dividend yield will be 0.5%, which is higher than the industry average of 0.3%. Sustainability & Growth Dividend is covered by both earnings (30% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 48% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 26
India Tourism Development Corporation Limited, Annual General Meeting, Sep 16, 2025 India Tourism Development Corporation Limited, Annual General Meeting, Sep 16, 2025, at 12:00 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹1.15 (vs ₹1.37 in 1Q 2025) First quarter 2026 results: EPS: ₹1.15 (down from ₹1.37 in 1Q 2025). Revenue: ₹934.0m (up 10.0% from 1Q 2025). Net income: ₹100.0m (down 16% from 1Q 2025). Profit margin: 11% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 26
India Tourism Development Corporation Limited to Report Q1, 2026 Results on Aug 14, 2025 India Tourism Development Corporation Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Aankondiging • Mar 26
India Tourism Development Corporation Limited to Report Q4, 2025 Results on May 30, 2025 India Tourism Development Corporation Limited announced that they will report Q4, 2025 results on May 30, 2025 Aankondiging • Mar 18
India Tourism Development Corporation Limited Appoints Rajesh Rana as Director (Commercial & Marketing), India Tourism Development Corporation India Tourism Development Corporation Limited announced that the Appointment Committee of the Cabinet (ACC) has approved the appointment of Mr. Rajesh Rana as Director (Commercial & Marketing), India Tourism Development Corporation (ITDC) for a period of 05 years with effect from the date of assumption of charge of the post, or until further orders whichever is earlier. Accordingly, Mr. Rajesh Rana took over the charge of the post of Director (Commercial & Marketing) -ITDC with effect from March 17, 2025. With this appointment, the composition of the Board will be as under: Mr. Mebanshailang Rynjah Synrem, IAS - Managing Director, Mr. Lokesh Kumar Agarwal - Director Finance & CFO, Mr. Rajesh Rana - Director (Commercial & Marketing), Ms. Ranjana Chopra, IAS - Government Nominee Director. Shri Rajesh Rana has an extensive career spanning over 26 years in the Hospitality Industry, with expertise in Catering, Tourism, Marketing and Business Operations. A distinguished alumnus of the prestigious Institute of Hotel Management (IHM), Lucknow, he also holds an MBA in Marketing. He began his career as a Management Trainee with the Jaypee Group of Hotels before moving to THDC India Limited, a Public Sector Undertaking (PSU). In 2005, he joined IRCTC, where he has since played a pivotal role in shaping its hospitality and tourism initiatives. Over the past 19 years at IRCTC, he has held key positions across Regional, Zonal and Corporate Offices, progressively rising through the ranks as Deputy General Manager, Joint General Manager, Additional General Manager and General Manager. His diverse expertise spans Catering, Tourism, Operations, Administration, Marketing, Product development and contract management. With a strong background in strategic leadership and risk management, he has played a pivotal role in shaping business operations and driving growth within the Hospitality, Tourism and Railway Catering sectors. Before assuming the role of Director (Commercial & Marketing) at ITDC, he has served as General Manager at IRCTC's Corporate Office in New Delhi, where he also held the critical responsibility of Chief Risk Officer (CRO). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹573, the stock trades at a trailing P/E ratio of 67.2x. Average trailing P/E is 35x in the Hospitality industry in India. Total returns to shareholders of 67% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹2.43 (vs ₹2.12 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.43 (up from ₹2.12 in 3Q 2024). Revenue: ₹1.56b (up 16% from 3Q 2024). Net income: ₹208.8m (up 16% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹628, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 35x in the Hospitality industry in India. Total returns to shareholders of 70% over the past three years. New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Aankondiging • Jan 24
India Tourism Development Corporation Limited Announces Cessation of Manan Kaushal and Anju Bajpai as Independent Directors India Tourism Development Corporation Limited announced that the tenure of two Independent Directors i.e. Shri Manan Kaushal and Smt Anju Bajpai, have been completed on January 23, 2025 and consequently, they have ceased to be the Independent Directors of the Company with effect from January 24, 2025. Aankondiging • Dec 30
India Tourism Development Corporation Limited to Report Q3, 2025 Results on Feb 14, 2025 India Tourism Development Corporation Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Reported Earnings • Nov 18
Second quarter 2025 earnings released: EPS: ₹2.78 (vs ₹2.25 in 2Q 2024) Second quarter 2025 results: EPS: ₹2.78 (up from ₹2.25 in 2Q 2024). Revenue: ₹1.60b (up 22% from 2Q 2024). Net income: ₹240.1m (up 24% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 27
India Tourism Development Corporation Limited to Report First Half, 2025 Results on Nov 14, 2024 India Tourism Development Corporation Limited announced that they will report first half, 2025 results on Nov 14, 2024 Aankondiging • Sep 06
India Tourism Development Corporation Limited Approves Dividend India Tourism Development Corporation Limited announced that at the AGM held on 6 September, 2024 approved dividend of 25.2% i.e. INR 2.52 per share on the equity share capital of the company. Upcoming Dividend • Aug 23
Upcoming dividend of ₹2.52 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 06 October 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.1%). In line with average of industry peers (0.3%). Aankondiging • Aug 16
India Tourism Development Corporation Limited, Annual General Meeting, Sep 06, 2024 India Tourism Development Corporation Limited, Annual General Meeting, Sep 06, 2024, at 12:00 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹1.37 (vs ₹2.04 in 1Q 2024) First quarter 2025 results: EPS: ₹1.37 (down from ₹2.04 in 1Q 2024). Revenue: ₹884.7m (down 25% from 1Q 2024). Net income: ₹118.8m (down 32% from 1Q 2024). Profit margin: 13% (down from 15% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 29
India Tourism Development Corporation Limited to Report Q1, 2025 Results on Aug 14, 2024 India Tourism Development Corporation Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹8.30 (vs ₹6.91 in FY 2023) Full year 2024 results: EPS: ₹8.30 (up from ₹6.91 in FY 2023). Revenue: ₹5.49b (up 18% from FY 2023). Net income: ₹712.2m (up 20% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 28
India Tourism Development Corporation Limited Announces Resignation of Sambit Patra as Part Time Non-Executive Director and Chairman India Tourism Development Corporation Limited announced resignation of Dr. Sambit Patra, from the post of part time non-executive director and chairman of the company with immediate effect. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹587, the stock trades at a trailing P/E ratio of 72.9x. Average trailing P/E is 38x in the Hospitality industry in India. Total returns to shareholders of 48% over the past three years. Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: ₹2.12 (vs ₹2.64 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.12 (down from ₹2.64 in 3Q 2023). Revenue: ₹1.40b (up 18% from 3Q 2023). Net income: ₹180.7m (down 20% from 3Q 2023). Profit margin: 13% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹546, the stock trades at a trailing P/E ratio of 63.6x. Average trailing P/E is 33x in the Hospitality industry in India. Total returns to shareholders of 80% over the past three years. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹2.25 (vs ₹1.40 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.25 (up from ₹1.40 in 2Q 2023). Revenue: ₹1.31b (up 42% from 2Q 2023). Net income: ₹193.2m (up 60% from 2Q 2023). Profit margin: 15% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Oct 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹494, the stock trades at a trailing P/E ratio of 63.8x. Average trailing P/E is 26x in the Hospitality industry in India. Total returns to shareholders of 121% over the past three years. Aankondiging • Oct 12
India Tourism Development Corporation Limited Appoints Shri Mebanshailang Rynjah Synrem as Managing Director India Tourism Development Corporation Limited announced that Ministry of Tourism, Govt. of India vide OM No. EON.PSU-6/1/2019 dated October 11, 2023 has entrusted additional charge of the post of Managing Director-ITDC to Shri Mebanshailang Rynjah Synrem, IAS, the Joint Secretary & Additional Director General (JS&ADG), Ministry of Tourism, Government of India for a period of 1 year with effect from the date of assumption of additional charge of the post, or till the appointment of regular incumbent to the post, or until further orders, whichever is the earliest. Shri Mebanshailang Rynjah Synrem took over the additional charge of the post of Managing Director -ITDC on October 11, 2023. Shri M. R. Synrem, joined the Indian Administrative Service in 2002 in Assam-Meghalaya cadre, and is presently the Joint Secretary in the Ministry of Tourism, Government of India. In his administrative career of over two decades in Meghalaya, he has demonstrated adept administrative expertise in spearheading the projects, schemes and initiatives in the Information Technology & Communications Department, the Transport Department, the Urban Affairs Department, the Commerce and Industries Department. In his earlier stints he has also served as Secretary in the Health & Family Welfare Department, the Mission Director of the Meghalaya State National Health Mission and CEO of Megha Health Insurance Scheme in Meghalaya. He has been actively interacting with the various key stakeholders including different Industries and their Associations with an aim to fostering greater coordination between the Government and Industry and devising several Policies for the State Government. After getting empaneled as the Joint Secretary to the Government of India in 2019, Shri M. R. Synrem joined the Ministry of Tourism, Government of India, since January 2023, as the Joint Secretary. Aankondiging • Sep 28
India Tourism Development Corporation Limited Approves Dividend India Tourism Development Corporation Limited at its AGM held on September 27, 2023, approved declaration of Dividend at the rate of INR 2.20 per share. Aankondiging • Sep 21
India Tourism Development Corporation Limited Announces Change in Directorate Shri Subhadeepta Paul, the Vice President (Finance), India Tourism Development Corporation Limited is appointed as the Part Time Director with Current Charge of the post of Director (Finance) ITDC on the Board of ITDC, with effect from the date of taking over the charge of the post for the period of 03 months or until further orders or till Shri Lokesh Kumar Aggarwal, the Director (Finance), ITDC resumes the charge of the post of Director (Finance) ITDC after returning from his Medical Leave, whichever is earlier. With this appointment, the composition of the Board will be as under: Dr. Sambit Patra Chairman; Sh. Lokesh Kumar Agarwal Director (Finance) with additional charge of Director (C&M); Ms. Ranjana Chopra Government Nominee Director; Dr. Manan Kaushal Independent Director; Dr. Anju Bajpai Woman Independent Director; Sh. Subhadeepta Paul Part Time Director. Upcoming Dividend • Sep 13
Upcoming dividend of ₹2.20 per share at 0.6% yield Eligible shareholders must have bought the stock before 20 September 2023. Payment date: 27 October 2023. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.4%). Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹2.04 (vs ₹1.23 in 1Q 2023) First quarter 2024 results: EPS: ₹2.04 (up from ₹1.23 in 1Q 2023). Revenue: ₹1.23b (up 27% from 1Q 2023). Net income: ₹174.6m (up 65% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 03
India Tourism Development Corporation Limited to Report Q1, 2024 Results on Aug 08, 2023 India Tourism Development Corporation Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Aankondiging • Jul 01
India Tourism Development Corporation Limited Announces Cessation of Piyush Tiwari as Director India Tourism Development Corporation Limited announced that Shri Piyush Tiwari holding the post of Director in ITDC has been ceased to be the Director with effect from closing business hours of June 30, 2023. With this change, present composition of Board of Directors in ITDC is as under: Dr. Sambit Patra as Chairman; Sh. Lokesh Kumar Aggarwal as Director (Finance) & CFO; Ms. Ranjana Chopra, IAS as Govt. Nominee Director; Dr. Anju Bajpai as Woman Independent Director; Dr. Manan Kaushal as Independent Director. Reported Earnings • May 26
Full year 2023 earnings released: EPS: ₹6.92 (vs ₹0.82 in FY 2022) Full year 2023 results: EPS: ₹6.92 (up from ₹0.82 in FY 2022). Revenue: ₹4.81b (up 66% from FY 2022). Net income: ₹593.0m (up ₹522.9m from FY 2022). Profit margin: 12% (up from 2.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Aankondiging • May 25
India Tourism Development Corporation Limited Recommends Dividend for the Financial Year Ended March 31, 2023 Board of Directors of India Tourism Development Corporation Limited (ITDC) have in its meeting held on 24th May, 2023 recommended a dividend of 22% i.e. INR 2.20 per share on the equity share capital of the company aggregating an amount of INR 18,86,92,680/- for the financial year ended March 31, 2023. Aankondiging • Feb 15
Punjab Tourism Development Corporation entered into a Memorandum of Understanding to acquire 51% stake in Punjab Ashok Hotel Company Limited from India Tourism Development Corporation Limited (BSE:532189) for INR 7.94 million Punjab Tourism Development Corporation entered into a Memorandum of Understanding to acquire 51% stake in Punjab Ashok Hotel Company Limited from India Tourism Development Corporation Limited (BSE:532189) for INR 7.94 million on February 14, 2023. The transaction is subject to approval from Cabinet Committee on Economic Affairs. Aankondiging • Feb 10
State of Jammu and Kashmir signed a memorandum of understanding to acquire Hotel Jammu Ashok from India Tourism Development Corporation Limited (BSE:532189) for INR 110 million. State of Jammu and Kashmir signed a memorandum of understanding to acquire Hotel Jammu Ashok from India Tourism Development Corporation Limited (BSE:532189) for INR 110 million on February 9, 2023. The transaction is subject to CCEA approval and receipt of consideration amount. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹2.65 (vs ₹0.12 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.65 (up from ₹0.12 in 3Q 2022). Revenue: ₹1.24b (up 38% from 3Q 2022). Net income: ₹226.6m (up ₹216.5m from 3Q 2022). Profit margin: 18% (up from 1.1% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 04
India Tourism Development Corporation Limited Announces Executive Changes India Tourism Development Corporation Limited (ITDC) announced Shri Ganji Kamala Vardhana Rao, IAS has been relieved from the post of the Managing Director (MD), ITDC and in his place, Shri Piyush Tiwari, Director has been given the additional charge of the post of MD, ITDC for a period of 3 months effective from the date of assumption of charge of the post till appointment of a regular MD in ITDC, or until further order or his superannuation, whichever is earlier. Accordingly Shri Ganji Kamala Vardhana Rao, IAS has handed over the charge to Shri Piyush Tiwari, effective February 3, 2023. With this change, present composition of Board of Directors in ITDC is as under: Dr. Sambit Patra- Chairman; Mr. Piyush Tiwari- Managing Director (Additional Charge) & Director (C&M); Mr. Lokesh Kumar Aggarwal - Director (Finance) & CFO; Ms. Ranjana Chopra - Govt. Nominee Director; Dr. Anju Bajpai - Woman Independent Director; Dr. Manan Kaushal - Independent Director. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Additional Non Official & Non-Executive Independent Director Manan Kaushal was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹1.26 (vs ₹0.34 loss in 1Q 2022) First quarter 2023 results: EPS: ₹1.26 (up from ₹0.34 loss in 1Q 2022). Revenue: ₹995.0m (up 124% from 1Q 2022). Net income: ₹105.6m (up ₹133.9m from 1Q 2022). Profit margin: 11% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Reported Earnings • Jun 15
Full year 2022 earnings released: EPS: ₹0.60 (vs ₹3.73 loss in FY 2021) Full year 2022 results: EPS: ₹0.60 (up from ₹3.73 loss in FY 2021). Revenue: ₹3.04b (up 72% from FY 2021). Net income: ₹70.1m (up ₹389.8m from FY 2021). Profit margin: 2.3% (up from net loss in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (5 non-independent directors). Director of Commercial & Marketing and Director Piyush Tiwari is the most experienced director on the board, commencing their role in 2015. Additional Non Official Independent Director Manan Kaushal was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.12 (up from ₹1.10 loss in 3Q 2021). Revenue: ₹898.4m (up 93% from 3Q 2021). Net income: ₹10.1m (up ₹104.2m from 3Q 2021). Profit margin: 1.1% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 25
First quarter 2022 earnings released: ₹0.34 loss per share (vs ₹1.83 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹476.0m (up 72% from 1Q 2021). Net loss: ₹28.9m (loss narrowed 82% from 1Q 2021). Reported Earnings • Jul 22
Full year 2021 earnings released: ₹3.58 loss per share (vs ₹2.86 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: ₹1.94b (down 43% from FY 2020). Net loss: ₹319.7m (down 231% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 18
Part-Time Government Nominee Director Sanjay Pandey has left the company On the 9th of June, Sanjay Pandey's tenure as Part-Time Government Nominee Director ended after less than a year in the role. We don't have any record of a personal shareholding under Sanjay's name. Sanjay is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.67 years. Is New 90 Day High Low • Mar 08
New 90-day high: ₹362 The company is up 31% from its price of ₹276 on 08 December 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: ₹292 The company is up 13% from its price of ₹259 on 18 September 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 19% over the same period. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 15% share price gain to ₹253, the stock is trading at a trailing P/E ratio of 70.7x, up from the previous P/E ratio of 61.4x. This compares to an average P/E of 44x in the Hospitality industry in India. Total return to shareholders over the past three years is a loss of 50%. Is New 90 Day High Low • Nov 05
New 90-day low: ₹222 The company is down 3.0% from its price of ₹229 on 07 August 2020. The Indian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 12% over the same period.