TBO Tek Ltd
Established in 2006, Company operate an online B2B travel distribution platform that provides a wide range of offerings and connects Buyers and Suppliers.[1]
- Market Cap ₹ 17,022 Cr.
- Current Price ₹ 1,568
- High / Low ₹ 2,001 / 1,229
- Stock P/E 278
- Book Value ₹ 69.1
- Dividend Yield 0.00 %
- ROCE 25.1 %
- ROE 19.7 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
Cons
- Stock is trading at 22.7 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 237 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: E-Commerce/App based Aggregator Industry: Travel Agencies
Part of Nifty MidSmallcap 400 Nifty Total Market BSE SmallCap Nifty Smallcap 250 BSE Allcap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|
| 220 | 379 | 102 | 264 | 476 | 539 | 558 | |
| 195 | 325 | 104 | 232 | 390 | 450 | 483 | |
| Operating Profit | 25 | 54 | -2 | 32 | 86 | 89 | 75 |
| OPM % | 11% | 14% | -2% | 12% | 18% | 16% | 14% |
| 12 | 13 | 27 | 29 | 11 | 6 | 27 | |
| Interest | 0 | 3 | 2 | 4 | 11 | 13 | 8 |
| Depreciation | 1 | 12 | 11 | 14 | 16 | 19 | 19 |
| Profit before tax | 36 | 53 | 14 | 42 | 70 | 63 | 75 |
| Tax % | 35% | 27% | 31% | 26% | 26% | 25% | |
| 24 | 39 | 9 | 31 | 52 | 47 | 56 | |
| EPS in Rs | 124.20 | 204.77 | 49.07 | 3.01 | 4.96 | 4.53 | 5.26 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 74% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 83% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 20% |
| Last Year: | 20% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 10 | 10 | 10 | 11 |
| Reserves | 85 | 168 | 178 | 192 | 248 | 305 | 739 |
| 0 | 17 | 0 | 3 | 62 | 73 | 70 | |
| 249 | 301 | 216 | 451 | 489 | 550 | 573 | |
| Total Liabilities | 336 | 488 | 396 | 656 | 810 | 938 | 1,393 |
| 1 | 0 | 21 | 79 | 72 | 81 | 79 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
| Investments | 16 | 16 | 16 | 16 | 16 | 18 | 18 |
| 319 | 472 | 358 | 561 | 722 | 838 | 1,297 | |
| Total Assets | 336 | 488 | 396 | 656 | 810 | 938 | 1,393 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 38 | -15 | 43 | 41 | 31 | 99 | |
| 5 | -12 | -27 | -3 | 2 | -23 | |
| -0 | -8 | -5 | -15 | -13 | -13 | |
| Net Cash Flow | 43 | -35 | 11 | 24 | 20 | 64 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 211 | 152 | 170 | 284 | 237 | 237 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 211 | 152 | 170 | 284 | 237 | 237 |
| Working Capital Days | -141 | -38 | -326 | -146 | -49 | -52 |
| ROCE % | 8% | 24% | 31% | 25% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
17h - Appointment of Mr. Akshat Verma as Director.
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Announcement under Regulation 30 (LODR)-Investor Presentation
13 Nov - Investor presentation shared for upcoming conferences.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
13 Nov - Newspaper advertisement relating to the unaudited financial results for the quarter and half year ended September 30, 2024.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
12 Nov - Audio/video recording of earnings conference call available.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
12 Nov - Monitoring Agency Report for Q2 FY2025 submitted.
Concalls
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Nov 2024TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Sep 2024Transcript PPT
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Aug 2024TranscriptNotesPPT
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Jun 2024Transcript PPT
Business Model[1]
Company operate an online B2B travel distribution platform. On platform Suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others can connect with buyers. Company received ~1.2 Cr number of booking in 9MFY24 compared to ~1.1 Cr number of booking in 9MFY23. Monthly transactions by buyers stood at 26,436 in 9MFY24 compared to 24,279 in 9MFY23.[2] Company has 6,998 listed supplier as on 9MFY24, compared to 4,673 as on 9MFY23 and 2,267 in FY21.[3].
Company's TBO platform connects over 159,000 Buyers across more than 100 countries with Suppliers, as of Dec'23. Company has 2 direct subsidiary and 14 indirect subsidiaries incorporated in geographies outside India.[4].
Company have 28 offices in India and eight offices internationally, as of Dec'23. Company do not own any of their offices and all of their offices, operate under a lease or leave and license agreements with promoter or promoter's company.[5].
Company's platform has two portals: TBO Holidays [6] is global travel distribution platform and Travel Boutique Online [7] is travel distribution platform for travel buyers based in India. [8]