Buy Or Sell Opportunity • 1h
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to ₹106. The fair value is estimated to be ₹87.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 11% in the next year. Reported Earnings • Aug 04
First quarter 2027 earnings released: EPS: ₹1.54 (vs ₹1.55 in 1Q 2026) First quarter 2027 results: EPS: ₹1.54 (down from ₹1.55 in 1Q 2026). Revenue: ₹21.5b (down 11% from 1Q 2026). Net income: ₹719.0m (flat on 1Q 2026). Profit margin: 3.3% (up from 3.0% in 1Q 2026). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Thomas Cook (India) Limited to Report Q1, 2027 Results on Aug 03, 2026 Thomas Cook (India) Limited announced that they will report Q1, 2027 results on Aug 03, 2026 Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹113, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 28x in the Hospitality industry in India. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹71.85 per share. Declared Dividend • May 15
Dividend increased to ₹0.50 Dividend of ₹0.50 is 11% higher than last year. Ex-date: 27th August 2026 Payment date: 10th October 2026 Dividend yield will be 0.5%, which is higher than the industry average of 0.3%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 47% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 14
Thomas Cook (India) Limited announces Annual dividend, payable on October 10, 2026 Thomas Cook (India) Limited announced Annual dividend of INR 0.5000 per share payable on October 10, 2026, ex-date on August 27, 2026 and record date on August 27, 2026. Announcement • May 13
Thomas Cook (India) Limited, Annual General Meeting, Sep 10, 2026 Thomas Cook (India) Limited, Annual General Meeting, Sep 10, 2026. Reported Earnings • May 13
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹4.70 (down from ₹5.46 in FY 2025). Revenue: ₹85.6b (up 5.1% from FY 2025). Net income: ₹2.19b (down 14% from FY 2025). Profit margin: 2.6% (down from 3.1% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Thomas Cook (India) Limited to Report Fiscal Year 2026 Results on May 12, 2026 Thomas Cook (India) Limited announced that they will report fiscal year 2026 results on May 12, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹103, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 29x in the Hospitality industry in India. Total returns to shareholders of 84% over the past three years. Reported Earnings • Feb 06
Third quarter 2026 earnings released: EPS: ₹1.35 (vs ₹1.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.35. Revenue: ₹21.9b (up 6.1% from 3Q 2025). Net income: ₹417.0m (down 16% from 3Q 2025). Profit margin: 1.9% (down from 2.4% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Hospitality industry in India. Announcement • Jan 16
Thomas Cook (India) Limited to Report Q3, 2026 Results on Feb 05, 2026 Thomas Cook (India) Limited announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹1.42 (vs ₹1.39 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.42 (up from ₹1.39 in 2Q 2025). Revenue: ₹21.1b (up 5.4% from 2Q 2025). Net income: ₹664.4m (up 2.4% from 2Q 2025). Profit margin: 3.1% (down from 3.2% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Nov 04
Thomas Cook (India) Limited to Report Q2, 2026 Results on Nov 12, 2025 Thomas Cook (India) Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Announcement • Sep 18
Thomas Cook (India) Limited Announces Resignation of Madhavan Menon as Non-Executive Chairman and as A Director, Effective September 17, 2025 Thomas Cook (India) Limited announced that Mr. Madhavan Menon has tendered his resignation as the Non-Executive Chairman and as a Director of the Company with effect from close of business hours on September 17, 2025. Mr. Menon has expressed his desire to move on from the organization and pursue other interests as part of his retirement plans. Announcement • Sep 03
Thomas Cook (India) Limited Approves Dividend for the Financial Year Ended March 31, 2025 Thomas Cook (India) Limited at its AGM held on September 3, 2025 approved dividend of INR 0.45 per Equity Share of INR 1/- each for the financial year ended March 31, 2025. Upcoming Dividend • Aug 14
Upcoming dividend of ₹0.45 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 03 October 2025. Payout ratio is a comfortable 8.2% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.3%). In line with average of industry peers (0.3%). Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: ₹1.55 (vs ₹1.62 in 1Q 2025) First quarter 2026 results: EPS: ₹1.55 (down from ₹1.62 in 1Q 2025). Revenue: ₹24.5b (up 17% from 1Q 2025). Net income: ₹720.5m (down 4.3% from 1Q 2025). Profit margin: 2.9% (down from 3.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Jul 09
Thomas Cook (India) Limited to Report Q1, 2026 Results on Jul 30, 2025 Thomas Cook (India) Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Announcement • Jul 02
Thomas Cook (India) Limited and SOTC Travel launches `TravSure' Thomas Cook (India) Limited and its group company SOTC Travel, have lpaunched `TravSure'. This first-of-its-kind, safe travel program reiterates Thomas Cook and SOTC's customer-first commitment - and delivers a stress-free journey with comprehensive support and financial protection. Emergency situations result in significant disruption to travel plans with cascading challenges for customers - including cancellations, charges and rescheduling. Understanding the multiple pain- points during emergency situations, TravSure has been meaningfully designed to provide customers with 24/7 assistance-support via a dedicated representative. Importantly, the program protects travellers from financial burdens by covering costs that arise during such unforeseen events. With traditional travel insurance policies typically excluding war/war-like and force majeure scenarios, Thomas Cook & SOTC's TravSure is a bold industry-first initiative, designed to fill that critical gap and financially safeguard their international group tour customers. The program offers protection against travel emergencies such as flight suspensions, trip curtailments due to war/war-like situations, political unrest, riots, airspace closures, etc. TravSure aims at empowering customers: travel with confidence, knowing that are protected at every step. Key Highlights of TravSure: Free Rescheduling & Refund in emergencies - of unutilized services: Applicable across Thomas Cook India and SOTC Travel's international group holidays. Additional Trip Protection: Covers costs for flight rescheduling due to war & war-like disruptions - for flights booked by Thomas Cook India/SOTC Travel; Hotel stays at the destination/during transit due to unforeseen emergency situations; Coverage limit up to USD 1500 per person for air and land expenses on International group Travel. 24x7 Customer Support: Dedicated resource offering real-time support for emergencies, changes or queries. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹167, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 44x in the Hospitality industry in India. Total returns to shareholders of 187% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹122 per share. Buy Or Sell Opportunity • May 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ₹147. The fair value is estimated to be ₹122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Declared Dividend • May 14
Dividend of ₹0.45 announced Shareholders will receive a dividend of ₹0.45. Ex-date: 21st August 2025 Payment date: 3rd October 2025 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (7% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 46% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 12
Thomas Cook (India) Limited Recommends Cash Dividend Thomas Cook (India) Limited informed that the Board of Directors of the Company at its meeting held on May 12, 2025, recommendation of dividend of INR 0.45 per Equity Share of INR 1/- each. The payout is subject to the approval of the shareholders at the upcoming Annual General Meeting of the Company. Announcement • May 10
Thomas Cook (India) Limited to Report Q4, 2025 Results on May 12, 2025 Thomas Cook (India) Limited announced that they will report Q4, 2025 results on May 12, 2025 Price Target Changed • Apr 22
Price target decreased by 17% to ₹226 Down from ₹272, the current price target is an average from 2 analysts. New target price is 53% above last closing price of ₹147. Stock is down 29% over the past year. The company posted earnings per share of ₹5.57 last year. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹145, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 42x in the Hospitality industry in India. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹252 per share. Announcement • Apr 10
Thomas Cook (India) Limited Announces Cessation of Pravir Kumar Vohra as Independent Director, Effective April 9 , 2025 Thomas Cook (India) Limited announced that Mr. Pravir Kumar Vohra (DIN: 00082545), has completed his second term of five consecutive years as an Independent Director of the Company and accordingly ceased to be the Director of the Company effective from the close of business hours of April 9, 2025. New Risk • Mar 05
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 8.0% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹138, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 37x in the Hospitality industry in India. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹272 per share. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹1.14 (vs ₹1.77 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.14 (down from ₹1.77 in 3Q 2024). Revenue: ₹20.6b (up 8.9% from 3Q 2024). Net income: ₹495.8m (down 40% from 3Q 2024). Profit margin: 2.4% (down from 4.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in India. 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 31% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
Thomas Cook (India) Limited Announces Re-Designation of Madhavan Menon as Non-Executive Chairman of the Board, with Effect from 1 June, 2025 Thomas Cook (India) Limited announced re-designation of Mr. Madhavan Menon as Non-Executive Chairman of the Board and the Company with effect from 1 June, 2025. Mr. Madhavan Menon was re-appointed Executive Chairman, in the category of a Whole Time Director, with the title as the "Chairman" of the Company for a fresh term of 5 years commencing from July 5, 2023 to July 4, 2028 as per the Shareholders resolution passed in Annual General Meeting dated August 23, 2023. The Board of Directors in its meeting held on 3rd February, 2025, has re- designated Mr. Madhavan Menon as the Non-Executive Chairman with effect from June 1, 2025, since Mr. Menon has requested for the said transition and his office is not liable to retire by rotation. Mr. Madhavan Menon Joined Thomas Cook (India) Limited in 2000 as the Executive Director Responsible for the Foreign Exchange Business and Stepped Up to the Position of Managing Director in January 2006 While as Chairman & Managing Director in January 2016. Mr. Madhavan Menon Completed His Mba from George Washington University and Undergraduate Degree from American University of Beirut. Madhavan Has A Varied Background, Having Commenced His Career in Banking At Grindlays Bank, Citibank and Emirates Bank and in Birla Sun Life Asset Management Company. Mr. Madhavan Menon Is A Member on the Board of Thomas Cook (India) Limited and Holds Directorships in Various Subsidiaries of the Company and Csb Bank Ltd., Among Others. He Is Also the Chairman of the Fairfax India Charitable Foundation That Focusses on Bringing Down the Cost of Treating Kidney Related Ailments in the Country. During His Tenure, Thomas Cook (India) Limited Has Made Several Acquisitions, Making It Today the Leading Omnichannel Travel Company in the Country and Has Expanded the Global Foot Print of the Group to Cover 21 Countries Across 4 Continents, with Operations in Australia, China, Asean, South Asia, Middle East, Southern Africa, Eastern Africa. Announcement • Jan 28
Thomas Cook (India) Limited to Report Q3, 2025 Results on Feb 03, 2025 Thomas Cook (India) Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Announcement • Jan 08
Thomas Cook India and SOTC Travel Pioneer Special Direct Flights to Bhutan Thomas Cook (India) Limited and its group company, SOTC Travel, announced the launch of special direct flights from Ahmedabad to Bhutan, commencing from April 2025. This pioneering initiative establishes a direct air connection between Gujarat and Bhutan, addressing a significant market gap and reinforcing Thomas Cook and SOTC's position as leaders in driving innovation within India's outbound travel sector. Currently, the travel route requires passengers to take connecting flights via Kolkata or Delhi, which entail layovers and the inconvenience of multiple flights, airport/terminal transfers and several check-ins. The new direct flights will offer a more seamless and convenient travel experience for passengers. Recognising Gujarat's strong appetite for outbound travel, the special direct flights open up opportunities for travellers to explore Bhutan with ease and convenience. The six-night itinerary has been thoughtfully designed incorporating unique Bhutan experiences with authentic Gujarati cuisine. Tour Highlights: Unique experiences: archery, riverside lunch in Punakha, dressing in traditional Bhutanese attire, dinner in Thimphu with a cultural performance, bonfire, light and music show. Gujarati chefs stationed in Bhutan to ensure preparation of authentic Gujarati cuisine including vegetarian/Jain options -- meeting a critical demand for Gujarati travellers. Assistance of experienced Gujarati-speaking tour manager from Ahmedabad, ensuring familiarity and comfort throughout the trip Bhutan known as one of the happiest and greenest countries, is the world's first carbon-negative nation. It offers scenic vistas, iconic monasteries, romantic spots, nature reserves, Himalayan terrain, lush valleys and hot-stone baths, along with a unique culture and warm hospitality. With the direct flights launching at an opportune time, Thomas Cook and SOTC are well-positioned to capitalize on the destination's appeal while driving strategic growth in Gujarat's outbound travel market. Buy Or Sell Opportunity • Dec 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.6% to ₹198. The fair value is estimated to be ₹252, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹1.39 (vs ₹1.01 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.39 (up from ₹1.01 in 2Q 2024). Revenue: ₹20.5b (up 11% from 2Q 2024). Net income: ₹648.9m (up 38% from 2Q 2024). Profit margin: 3.2% (up from 2.6% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
Thomas Cook (India) Limited to Report Q2, 2025 Results on Nov 13, 2024 Thomas Cook (India) Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Announcement • Oct 10
Thomas Cook (India) Limited Announces the Launch of a Unique Range of Autumn Holidays Thomas Cook (India) Limited launched a unique range of Autumn Holidays to strategically leverage the strong and growing Indian consumer demand for nature and outdoor experiences. With the Companies' data revealing a notable trend towards low/off-season travel, in addition to vibrant fall colours, Thomas Cook & SOTC's Autumn Holidays also serve to drive momentum with added benefits of attractive off-season pricing and fewer crowds at destinations. The pandemic having created a clear shift in demand for nature and outdoor experiences, Autumn/Fall is now emerging as a viable holiday season for Indian consumers. Thomas Cook & SOTC Travel's new portfolio of Autumn holidays hence intends to maximise on this opportunity by offering enchanting journeys as leaves turn into fiery shades of gold, orange and red. Against this picturesque backdrop, the Companies' Autumn Holidays offer fun-engaging experiences to appeal to multi-generational families, couples/groups of friends, Gen S, as well as Young India's millennials and Gen Z. In addition to group escorted tours, Thomas Cook & SOTC offers personalised programs with hiking and e-biking along Alpine autumn trails from Switzerland, Turkey, Georgia to Japan & South Korea; also stargazing while glamping; in unique geodesic eco-pods or a log cabin in Lapland. Adrenaline-fueled experiences include white-water rafting, wakeboarding or exploration on horseback/segway. Unique gastronomy elements include gourmet walks, wild truffle strolls and vineyard tours with accommodation as varied as a chateau, palace or villa in France, Spain, Portugal, Georgia and Italy. Wellness options range from Finland's famed saunas, South Korea's Jjimjilbang/thermal bathhouses, Japan's onsens or a mud bath in Azerbaijan. Closer to home, India's own autumn gems include nature walks/treks amidst the vibrant chinars in Kashmir or a kaleidoscope of colours in Himachal and Uttarakhand, picturesque terrace tea/coffee gardens and stays in plantation bungalows in Darjeeling or Wayanad, to white water rafting in Coorg/Rishikesh and jungle safaris in Karnataka, Madhya Pradesh and more. Announcement • Sep 16
Thomas Cook (India) Limited Announces Cessation of Kishori Udeshi as an Independent Director Thomas Cook (India) Limited announced that Mrs. Kishori Udeshi has completed her second term of five consecutive years as an independent director of the company and accordingly ceased to be the director of the company effective from the close of business hours of September 15, 2024. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹222, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 44x in the Hospitality industry in India. Total returns to shareholders of 289% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹161 per share. Upcoming Dividend • Aug 09
Upcoming dividend of ₹0.60 per share Eligible shareholders must have bought the stock before 16 August 2024. Payment date: 29 September 2024. Payout ratio is a comfortable 7.2% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.4%). Buy Or Sell Opportunity • Aug 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.2% to ₹207. The fair value is estimated to be ₹171, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 58% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in a year. Earnings are forecast to grow by 21% in the next year. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₹205, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 44x in the Hospitality industry in India. Total returns to shareholders of 251% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹171 per share. Reported Earnings • Aug 01
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹1.62 (up from ₹1.57 in 1Q 2024). Revenue: ₹21.3b (up 12% from 1Q 2024). Net income: ₹752.9m (up 3.3% from 1Q 2024). Profit margin: 3.5% (down from 3.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Announcement • Jul 22
Thomas Cook (India) Limited to Report Q1, 2025 Results on Jul 31, 2024 Thomas Cook (India) Limited announced that they will report Q1, 2025 results on Jul 31, 2024 Recent Insider Transactions • Jul 04
President and Country Head of Holidays recently sold ₹3.0m worth of stock On the 28th of June, D. Kale sold around 13k shares on-market at roughly ₹241 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹5.1m. Insiders have been net sellers, collectively disposing of ₹65m more than they bought in the last 12 months. New Risk • Jun 15
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹20m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Jun 13
Compliance Officer & Company Secretary recently sold ₹2.1m worth of stock On the 7th of June, Amit Parekh sold around 10k shares on-market at roughly ₹212 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹5.1m. Insiders have been net sellers, collectively disposing of ₹48m more than they bought in the last 12 months. Buy Or Sell Opportunity • Jun 05
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ₹204. The fair value is estimated to be ₹160, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 65% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 49% in the next 2 years. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 6 highly experienced directors. Additional Non-Executive & Non-Independent Director Gopal Soundarajan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 29
President and Country Head of Holidays recently sold ₹5.1m worth of stock On the 21st of May, D. Kale sold around 24k shares on-market at roughly ₹210 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹44m more than they bought in the last 12 months. Price Target Changed • May 28
Price target increased by 16% to ₹283 Up from ₹243, the current price target is an average from 2 analysts. New target price is 37% above last closing price of ₹206. Stock is up 221% over the past year. The company is forecast to post earnings per share of ₹7.05 for next year compared to ₹5.57 last year. Declared Dividend • May 18
Dividend of ₹0.60 announced Shareholders will receive a dividend of ₹0.60. Ex-date: 16th August 2024 Payment date: 29th September 2024 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 18
Thomas Cook (India) Limited, Annual General Meeting, Aug 30, 2024 Thomas Cook (India) Limited, Annual General Meeting, Aug 30, 2024. Reported Earnings • May 16
Full year 2024 earnings released: EPS: ₹5.57 (vs ₹0.097 in FY 2023) Full year 2024 results: EPS: ₹5.57 (up from ₹0.097 in FY 2023). Revenue: ₹74.4b (up 47% from FY 2023). Net income: ₹2.59b (up ₹2.55b from FY 2023). Profit margin: 3.5% (up from 0.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Announcement • May 05
Thomas Cook (India) Limited to Report Q4, 2024 Results on May 15, 2024 Thomas Cook (India) Limited announced that they will report Q4, 2024 results on May 15, 2024 Announcement • Apr 05
Thomas Cook (India) Limited Launches the EnterpriseFx Card - India's First Eco-Friendly Prepaid Forex Corporate Card, Made Entirely of Recycled Material Thomas Cook (India) Limited launched EnterpriseFx - a pioneering, environment friendly prepaid forex corporate card. In partnership with Visa & Mastercard, the innovative product has been thoughtfully designed, offering a range of premium benefits to empower business travellers - across India Inc, multinationals and SMEs. This initiative reiterates Thomas Cook's position as India ka Forex Specialist (#IKFS) - highlighting the Company's sustained focus on innovation and elevated customer experience. Aligned with the Company's sustainability goals, Thomas Cook's EnterpriseFx Card features three key elements: 1) made from recycled plastic 2) security feature of a green pin (paperless) 3) Thomas Cook pledge to plant a tree on behalf of the Corporate for every 25th card sold; additionally an e-certification and geo-tagging. The cumulative impact is a saving of approx. 30 kgs carbon emissions per card. So, for 0.1 million EnterpriseFx cards, a significant 3000 tonnes of carbon emission saved which is equivalent to over 1.2 million trees. The Thomas Cook EnterpriseFx Card Advantage: Thomas Cook Edge reward points on spends (on POS transactions) with redemption for Holidays, Flights & Hotels, Free Lounge Access valid on International Airports in India, Complimentary international SIM card, Free ATM Withdrawal, Complimentary Youth Card: 1,50,000+ discounts and offers across 60,000+ Brands in 125+ Countries, Surcharge-free withdrawals at Allpoint ATMs, Comprehensive insurance cover up to INR 750,000.00, Free card replacement, Emergency cash assistance, Earn Krisflyer (Singapore Airlines) Miles on card issuance, Special offers on select McArthurGlen designer shopping outlets in Europet. Thomas Cook India is India's larger non-bank foreign exchange services provider with its prepaid card business witnessing a strong uptick of 1.5x YoY for the twelve-month period ended Dec. 31, 2023. Buy Or Sell Opportunity • Mar 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to ₹143. The fair value is estimated to be ₹179, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 66% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 68% in the next 2 years. Recent Insider Transactions • Feb 14
President & CFO recently sold ₹7.0m worth of stock On the 6th of February, Brijesh Modi sold around 40k shares on-market at roughly ₹175 per share. This transaction amounted to 66% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹8.7m. This was Brijesh's only on-market trade for the last 12 months. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹1.77 (vs ₹0.40 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.77 (up from ₹0.40 in 3Q 2023). Revenue: ₹18.9b (up 23% from 3Q 2023). Net income: ₹823.9m (up 345% from 3Q 2023). Profit margin: 4.4% (up from 1.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹184, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 47x in the Hospitality industry in India. Total returns to shareholders of 317% over the past three years. Announcement • Jan 24
Thomas Cook (India) Limited to Report Q3, 2024 Results on Jan 31, 2024 Thomas Cook (India) Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Buy Or Sell Opportunity • Jan 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to ₹164. The fair value is estimated to be ₹136, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Recent Insider Transactions • Jan 02
Insider recently sold ₹2.4m worth of stock On the 29th of December, Amit Madhan sold around 18k shares on-market at roughly ₹136 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹8.7m. Insiders have been net sellers, collectively disposing of ₹29m more than they bought in the last 12 months. Recent Insider Transactions • Dec 06
President and Country Head of Holidays recently sold ₹8.7m worth of stock On the 28th of November, D. Kale sold around 54k shares on-market at roughly ₹162 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹30m more than they bought in the last 12 months. Recent Insider Transactions • Nov 24
Insider recently sold ₹2.4m worth of stock On the 15th of November, Aniruddha Chaudhuri sold around 16k shares on-market at roughly ₹154 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.7m. Insiders have been net sellers, collectively disposing of ₹29m more than they bought in the last 12 months.