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India Tourism Development Corp. Ltd.
(ITDC)
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Rating:66Neutral
Price Target:
₹729.00
▲(24.17% Upside)
Action:Downgraded
Date:07/16/26
The score is primarily supported by strong financial safety (near-zero leverage) and improved profitability, alongside a clearly bullish technical trend. It is meaningfully held back by expensive valuation (high P/E and low dividend yield) and uneven cash-flow consistency, which increases downside risk if growth continues to cool.
Positive Factors
Very Low Leverage
Debt is only ~₹6.3M against ~₹4.23B of equity, giving ITDC substantial balance-sheet resilience. Negligible leverage reduces interest and refinancing pressure, preserves capacity to fund hospitality assets, and improves its ability to absorb weaker tourism demand.
Negative Factors
Negative Revenue Growth
Annual revenue growth cooled sharply and turned negative in 2026, with revenue down about 4%. Persistent top-line softness would constrain operating leverage, weaken utilization of hospitality assets, and make it harder to sustain recent profit improvements without further efficiency gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Debt is only ~₹6.3M against ~₹4.23B of equity, giving ITDC substantial balance-sheet resilience. Negligible leverage reduces interest and refinancing pressure, preserves capacity to fund hospitality assets, and improves its ability to absorb weaker tourism demand.
Read all positive factors
India Tourism Development Corp. Ltd. (ITDC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹56.89B
Dividend Yield0.44%
Average Volume (3M)27.05K
Price to Earnings (P/E)70.4
Beta (1Y)2.32
Revenue Growth-9.37%
EPS Growth3.25%
CountryIN
Employees455
SectorGeneral
Sector StrengthN/A
IndustryTravel Lodging
Share Statistics
EPS (TTM)9.59
Shares Outstanding85,769,400
10 Day Avg. Volume34,901
30 Day Avg. Volume27,051
Financial Highlights & Ratios
PEG Ratio11.19
Price to Book (P/B)7.54
Price to Sales (P/S)5.98
P/FCF Ratio42.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
India Tourism Development Corp. Ltd. Business Overview & Revenue Model
Company Description
India Tourism Development Corporation Ltd., along with its subsidiaries, is dedicated to developing, constructing, and managing a diverse portfolio of hospitality establishments, including hotels, beach resorts, and dining facilities, catering to ...
How the Company Makes Money
ITDC generates revenue primarily by providing tourism and hospitality services through multiple operating verticals. A major source is income from hospitality operations, including room rentals and allied hotel services, along with food-and-bevera...
India Tourism Development Corp. Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.35B | 5.33B | 5.70B | 5.32B | 4.61B | 2.94B |
| Gross Profit | 2.52B | 2.50B | 2.66B | 2.53B | 2.25B | 908.75M |
| EBITDA | 1.15B | 1.21B | 1.06B | 1.15B | 883.80M | 151.08M |
| Net Income | 823.47M | 827.11M | 815.45M | 646.02M | 551.20M | 42.43M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.62B | 7.46B | 10.66B | 9.34B | 5.84B |
| Cash, Cash Equivalents and Short-Term Investments | 2.71B | 2.71B | 2.19B | 1.78B | 2.06B | 2.19B |
| Total Debt | 0.00 | 6.35M | 6.35M | 6.35M | 6.30M | 6.30M |
| Total Liabilities | -4.11B | 3.51B | 3.94B | 6.87B | 6.06B | 3.10B |
| Stockholders Equity | 4.11B | 4.23B | 3.64B | 3.89B | 3.38B | 2.83B |
Cash Flow | ||||||
| Free Cash Flow | 22.72M | 747.87M | -3.38B | 408.46M | -247.87M | 101.10M |
| Operating Cash Flow | 56.41M | 850.09M | -3.29B | 423.32M | -117.65M | 156.37M |
| Investing Cash Flow | -384.45M | -873.43M | -133.62M | 43.05M | -29.84M | 49.02M |
| Financing Cash Flow | -248.73M | -248.73M | -216.14M | -190.56M | 0.00 | 0.00 |
India Tourism Development Corp. Ltd. Technical Analysis
Positive
587.10
Price Trends
676.03
Negative
650.69
Positive
590.86
Positive
Market Momentum
0.86
Negative
50.32
Neutral
29.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ITDC, the sentiment is Positive. The current price of 587.1 is below the 20-day moving average (MA) of 668.04, below the 50-day MA of 676.03, and below the 200-day MA of 590.86, indicating a neutral trend. The MACD of 0.86 indicates Negative momentum. The RSI at 50.32 is Neutral, neither overbought nor oversold. The STOCH value of 29.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ITDC.
India Tourism Development Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹19.74B | 4.81 | ― | 0.62% | 22.41% | 194.35% | |
69 Neutral | ₹184.45B | 33.91 | ― | 0.24% | 6.05% | 85.08% | |
69 Neutral | ₹1.03T | 48.84 | ― | 0.44% | 13.17% | 9.73% | |
68 Neutral | ₹186.58B | 26.42 | ― | 0.50% | 8.34% | 4.47% | |
66 Neutral | ₹56.89B | 70.41 | ― | 0.44% | -9.37% | 3.25% | |
59 Neutral | ₹85.40B | 37.08 | ― | ― | 10.46% | 9.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:ITDC
India Tourism Development Corp. Ltd.
671.30
45.34
7.24%
IN:CHALET
Chalet Hotels Ltd.
846.85
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-10.25%
IN:EIHOTEL
EIH Limited
296.60
-96.32
-24.51%
IN:INDHOTEL
Indian Hotels Co. Ltd.
730.45
3.89
0.53%
IN:LEMONTREE
Lemon Tree Hotels Ltd.
112.45
-53.70
-32.32%
IN:TAJGVK
TAJGVK Hotels & Resorts Ltd.
321.15
-100.22
-23.78%
India Tourism Development Corp. Ltd. Corporate Events
India Tourism Development Corp. Sets Digital AGM for September 22, 2026
Aug 29, 2026
India Tourism Development Corporation Limited has scheduled its 61st Annual General Meeting for September 22, 2026, at 12:00 IST, to be conducted via video conferencing and other audio-visual means in line with regulatory provisions. The AGM notic...
India Tourism Development Corporation Sets Record Date for FY26 Dividend
Aug 29, 2026
India Tourism Development Corporation Ltd. has announced that its board has recommended a final dividend of Rs 2.95 per equity share with a face value of Rs 10 for the financial year 2025-26, subject to shareholder approval at the annual general m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.