Consolidated Financial Performance (Q1 FY27 vs Q1 FY26)

  • Total Income from Operations: ₹20,919 Mn (down 13% from ₹24,080 Mn)
  • Other Income: ₹611 Mn (up 36% from ₹451 Mn)
  • Total Income: ₹21,530 Mn (down 12% from ₹24,530 Mn)
  • EBITDA: ₹1,541 Mn (down 10% from ₹1,716 Mn); Margin: 7.2% (vs 7.0%)
  • EBIT: ₹1,119 Mn (down 17% from ₹1,351 Mn); Margin: 5.2% (down 31 bps from 5.5%)
  • PBT: ₹885 Mn (down 21% from ₹1,115 Mn); Margin: 4.1% (down 40 bps from 4.5%)
  • PAT: ₹637 Mn (down 13% from ₹736 Mn); Margin: 3.0% (flat)
  • EPS: ₹1.54 (down from ₹1.55)
  • Cash & Short-term Investments: ₹26,488 Mn as of June 30, 2026 (vs ₹26,162 Mn as of March 31, 2026)
  • Total Debt: ₹2,688 Mn

Segment Performance (Q1 FY27 vs Q1 FY26)

Financial Services

  • Revenue: ₹892 Mn (up 6% from ₹842 Mn)
  • EBIT: ₹404 Mn (up 8% from ₹374 Mn); Margin: 45.3% (up 93 bps from 44.4%)

Travel & Related Services

  • Revenue: ₹17,106 Mn (down 14% from ₹19,784 Mn)
  • EBIT: ₹405 Mn (down 50% from ₹811 Mn); Margin: 2.4% (down 174 bps from 4.1%)

Leisure Hospitality & Resorts (Sterling)

  • Revenue: ₹1,614 Mn (up 19% from ₹1,357 Mn)
  • EBIT: ₹523 Mn (up 28% from ₹409 Mn); Margin: 32.4% (up 226 bps from 30.1%)

Digital Imaging Solutions (DEI)

  • Revenue: ₹1,307 Mn (down 38% from ₹2,097 Mn)
  • EBIT: Loss of ₹152 Mn (down from profit of ₹106 Mn); Margin: -11.6% (down from 5.1%)

Key Operational Highlights & Management Commentary

Management Commentary (Mahesh Iyer, MD & CEO): The Q1 performance was impacted by a highly volatile operating environment, particularly severe on GCC-based subsidiaries (DEI & Desert Adventures) due to the ongoing regional conflict. Excluding these subsidiaries, the Group's EBIT grew by 8%. The focus remains on prudent financial management, operational excellence, and customer focus.

Financial Services:

  • Digital adoption reached 23.5% (vs 20.4% YoY).
  • Significant growth in digital channels: WhatsApp transactions +84% YoY, App bookings 3x growth, Video KYC transactions 9x growth.
  • Expanded prepaid Forex Card portfolio to 28 currencies.
  • Operationalized new retail counters at Delhi Airport T2 (June) and T1 (July 2026); closed branches in Guwahati, Jaipur, and Margao for network optimization.
  • Introduced a 10% value back offer on card spends.

Travel & Related Services:

  • B2C Revenue: ₹6,678 Mn (down 16% YoY). Domestic grew 29%, but Outbound declined 20%, with Long Haul down 28%.
  • B2B Revenue: ₹11,192 Mn (down 13% YoY). Destination Management Services (DMS) fell 31%, but MICE grew 14% and Corporate Travel grew 7%.
  • Corporate Travel: Added 7 new client accounts. Air volumes grew 14.4% YoY; International Air volumes grew 16.7% YoY; Hotel volumes grew 33.7% YoY.
  • MICE: Managed over 110 groups (50-2400 delegates) to 20+ international and 8+ domestic destinations.
  • DMS Breakdown:
  • India DMS revenue was flat (+0.2%) at ₹599 Mn.
  • International DMS revenue fell 33% to ₹4,823 Mn, impacted by Middle East geopolitics (Desert Adventures) and softer US inbound tourism (Allied T Pro). Asian Trails was stable; Private Safaris in Southern Africa grew 17% and East Africa grew 4%.

Leisure Hospitality (Sterling):

  • Record performance with 78 resorts across 65 cities.
  • Zero-debt, net cash-positive company with cash reserves of ₹3,737 Mn.
  • Targeting 95 resorts by 2027, with a pipeline of 20+ sign-ups.

Digital Imaging Solutions (DEI):

  • Middle East operations (~50% of portfolio) severely impacted by geopolitical situation, with attractions closed or subdued footfalls.
  • Signed 3 new partnerships (Indonesia, China) and renewed 11 key partnerships (UAE, Singapore, Indonesia, Oman).
  • Operationally launched 5 partnerships (India, Indonesia).
  • Focused on cost optimization and site rationalization.

Strategic Update: Sterling Demerger

The presentation includes an annexure on the strategic demerger of Sterling Holiday Resorts. The process is ongoing and is estimated to be completed by Q1 FY28. Until conclusion, Sterling will remain a fully consolidated segment of the TCIL Group.