Q1 2027 Indian Railway Catering and Tourism Corporation Ltd Earnings Call Transcript
Key Points
- Revenue from operations grew 18.1% year-on-year to Rs 1,370 crores, driven by strong catering and tourism segments.
- Internet ticketing segment maintained high EBITDA margin of over 80%, with 88.92% of reserved railway tickets booked online.
- Catering revenue surged 33.82% year-on-year to Rs 732 crores, supported by higher onboard sales and e-catering growth.
- Tourism segment EBITDA margin improved to 11.31% from 8.78%, reflecting better product mix and cost realization.
- Company is expanding RailNeer capacity with new plants and augmentations, and progressing on iPay payment aggregator license for future growth.
- EBITDA declined 2.77% year-on-year due to changes in revenue mix and higher HR costs of around Rs 20 crores.
- Internet ticketing non-convenience fee revenue fell to Rs 113 crores from Rs 123 crores, impacted by website revamp and agent restrictions.
- Catering margins were impacted by proof-of-concept initiatives and one-time HR costs, with margin at 9.29%.
- RailNeer margins dropped to 10% due to increased resin costs from the West Asia crisis, reducing profitability.
- Convenience fee revenue growth remains modest at 4.89% quarter-on-quarter, with no increase in fees for seven years, limiting ticketing revenue growth.
Ladies and gentlemen, good day and welcome to the IRCTC Limited Q1 FY26 Earnings Call posted by Donnet Capital. As a reminder, all participle lines will be in the listen-only mode and there will be an opportunity for you to ask questions after our presentation concludes. Should you need assistance during the conference call, please sign an operator by pressing *, then 0 on touch tone phone.
Please note that this conference is being recorded. I now hand conference over to Mr. Rahul Jain from Dollat Capital. Thank you. And over to you, Mr. Rahul.
Thank you, Nitesh. Good afternoon, everyone. On behalf of Dollat Capital, we welcome you all to the Q1 FY27 earnings conference call of IRCTC Limited. I take this opportunity to welcome the management of IRCTC. Represented by Mr. Rahul Himalayanji who is CMD and Director of Tourism and Marketing Mr. Rajneesh Narayan who is Director of Finance and CFO and also we have today with us Mr. Manoj Kumar Sharma who is Director of Catering Services of the company. Now I
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