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 78.0
- Book Value ₹ 99.1
- Dividend Yield 0.00 %
- ROCE 42.9 %
- ROE 46.0 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 46.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.5%
Cons
- Stock is trading at 15.8 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 867 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 500 Multicap 50:25:25 BSE Allcap Nifty Total Market BSE Consumer Discretionary
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|
| 441 | 571 | 142 | 483 | 1,065 | 1,393 | 1,565 | |
| 395 | 484 | 163 | 451 | 876 | 1,126 | 1,282 | |
| Operating Profit | 46 | 87 | -21 | 32 | 189 | 267 | 283 |
| OPM % | 10% | 15% | -15% | 7% | 18% | 19% | 18% |
| -1 | 18 | 5 | 37 | 24 | 15 | 41 | |
| Interest | 6 | 5 | 2 | 7 | 14 | 19 | 19 |
| Depreciation | 5 | 12 | 11 | 16 | 25 | 36 | 48 |
| Profit before tax | 34 | 88 | -30 | 46 | 174 | 227 | 257 |
| Tax % | 23% | 17% | 16% | 27% | 15% | 12% | |
| 26 | 73 | -34 | 34 | 148 | 201 | 218 | |
| EPS in Rs | 138.92 | 384.79 | -180.13 | 3.23 | 13.84 | 19.39 | 20.54 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 114% |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 46% |
| 3 Years: | 178% |
| TTM: | 44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 32% |
| 3 Years: | 40% |
| Last Year: | 46% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 10 | 10 | 10 | 11 |
| Reserves | 159 | 238 | 202 | 221 | 330 | 534 | 1,065 |
| 21 | 17 | 8 | 63 | 71 | 210 | 210 | |
| 644 | 536 | 364 | 976 | 2,147 | 4,100 | 4,606 | |
| Total Liabilities | 826 | 793 | 576 | 1,271 | 2,558 | 4,855 | 5,892 |
| 44 | 35 | 23 | 92 | 136 | 349 | 374 | |
| CWIP | 0 | 4 | 9 | 0 | 0 | 14 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 2 | 2 |
| 782 | 755 | 545 | 1,179 | 2,422 | 4,490 | 5,517 | |
| Total Assets | 826 | 793 | 576 | 1,271 | 2,558 | 4,855 | 5,892 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 93 | -3 | 51 | 198 | 237 | 226 | |
| -39 | -6 | -28 | -27 | -85 | -154 | |
| -5 | -8 | -5 | -16 | -14 | 115 | |
| Net Cash Flow | 49 | -18 | 17 | 156 | 138 | 188 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 314 | 194 | 309 | 401 | 537 | 867 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 314 | 194 | 309 | 401 | 537 | 867 |
| Working Capital Days | -124 | -32 | -382 | -230 | -135 | -111 |
| ROCE % | 42% | 1% | 18% | 53% | 43% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
8h - 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.
-
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]