Travel Food Services FY26 Net Profit Rises 22.6%

Key Decisions and Financial Results

1. Approval of Audited Financial Results

The Board of Directors considered and approved the following:

Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2026.
The Statutory Auditors, B S R & Co. LLP, issued an unmodified opinion on both the standalone and consolidated results.
This declaration is made pursuant to Regulation 33(3)(d) of the SEBI Listing Regulations.
The figures for the quarter ended March 31, 2025, were approved by the Board but were not audited as the company was listed during FY26 (from the quarter ended June 30, 2025).

2. Dividend Recommendation

The Board recommended a final dividend of ₹10.25 per equity share (face value of ₹1 each).

This is subject to approval by members at the forthcoming Annual General Meeting (AGM).
If approved, the dividend will be paid within five days from the date of the AGM, subject to applicable tax deduction at source.

3. Appointment of Senior Managerial Personnel

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Mr. Rituparn Sharma as Senior Vice President (Corporate Affairs).

He is designated as a Senior Managerial Personnel (SMP) of the company effective May 25, 2026.
His brief profile: Brings over 30 years of leadership experience in operations and corporate affairs within India's travel retail and hospitality sectors. An IIM Kolkata alumnus, he has been with the company since 2010 and has been instrumental in establishing compliance frameworks and navigating regulatory environments.
Details were provided as per Regulation 30 of SEBI Listing Regulations and the relevant SEBI Master Circular.

Detailed Financial Performance (Standalone)

(All figures in INR millions, unless otherwise stated)

Income Statement Summary (FY26 vs FY25)

| Revenue from Operations | 13,021.42 | 12,141.56 | +7.2% |

| Other Income | 1,003.64 | 906.22 | +10.7% |

| Total Income | 14,025.06 | 13,047.78 | +7.5% |

| Total Expenses | 9,120.81 | 9,049.30 | +0.8% |

| Profit Before Tax (PBT) | 4,904.25 | 3,998.48 | +22.6% |

| Total Tax Expense | 1,228.53 | 999.35 | +22.9% |

| Profit for the Year (PAT) | 3,675.72 | 2,999.13 | +22.6% |

| Other Comprehensive Income (OCI) | (14.05) | 1.69 | N/M |

| Total Comprehensive Income | 3,661.67 | 3,000.82 | +22.0% |

Quarterly Standalone Performance (Q4 FY26)

| Revenue from Operations | 3,396.28 | 3,572.88 | 3,063.50 |

| Profit Before Tax (PBT) | 1,306.38 | 1,451.63 | 994.89 |

| Profit After Tax (PAT) | 982.75 | 1,107.52 | 732.22 |

Key Standalone Metrics

Paid-up Equity Share Capital: ₹131.68 million (131.68 million shares of ₹1 face value)
Other Equity: ₹10,996.24 million (FY25: ₹7,847.67 million)
Earnings Per Share (EPS):
Basic: ₹27.91 for FY26 (FY25: ₹22.78)
Diluted: ₹27.85 for FY26 (FY25: ₹22.78)
Q4 FY26 Basic EPS: ₹7.46 (not annualized)

Standalone Balance Sheet (as of 31 Mar 2026)

Total Assets: ₹18,150.90 million
Total Equity: ₹11,127.92 million
Non-Current Liabilities: ₹908.82 million
Current Liabilities: ₹6,114.16 million

Standalone Cash Flow (FY26)

Net Cash from Operating Activities: ₹3,338.84 million
Net Cash Used in Investing Activities: (₹1,095.20) million
Net Cash Used in Financing Activities: (₹2,080.61) million
Net Increase in Cash: ₹163.03 million
Cash and Cash Equivalents at year-end: ₹349.81 million

Detailed Financial Performance (Consolidated)

Income Statement Summary (FY26 vs FY25)

| Revenue from Operations | 16,477.96 | 16,877.39 | -2.4% |

| Other Income | 948.47 | 749.70 | +26.5% |

| Total Income | 17,426.43 | 17,627.09 | -1.1% |

| Total Expenses | 12,135.83 | 13,056.47 | -7.1% |

| Profit Before Tax (PBT) | 5,290.60 | 4,570.62 | +15.8% |

| Share of Profit of Associates/JVs | 663.98 | 472.73 | +40.5% |

| PBT (after share of profit) | 5,954.58 | 5,043.35 | +18.1% |

| Total Tax Expense | 1,431.41 | 1,246.76 | +14.8% |

| Profit for the Year (PAT) | 4,523.17 | 3,796.59 | +19.1% |

| PAT Attributable to Owners | 4,410.27 | 3,631.53 | +21.4% |

| Total Comprehensive Income Attributable to Owners | 4,406.18 | 3,637.72 | +21.1% |

Key Consolidated Metrics

Paid-up Equity Share Capital: ₹131.68 million
Other Equity: ₹14,295.43 million (FY25: ₹10,402.35 million)
Earnings Per Share (EPS) - Attributable to Owners:
Basic: ₹33.49 for FY26 (FY25: ₹27.58)
Diluted: ₹33.42 for FY26 (FY25: ₹27.58)
Q4 FY26 Basic EPS: ₹9.17 (not annualized)

Consolidated Balance Sheet (as of 31 Mar 2026)

Total Assets: ₹22,798.43 million
Total Equity: ₹14,638.37 million (Attributable to owners: ₹14,427.11 million; Non-controlling interest: ₹211.26 million)
Non-Current Liabilities: ₹1,135.40 million
Current Liabilities: ₹7,024.66 million

Notes to the Financial Results

1. Basis of Preparation

The financial results are prepared in accordance with Indian Accounting Standards (Ind AS) and SEBI Listing Regulations (Regulation 33).

2. IPO and Listing

The company completed its Initial Public Offer (IPO) of 18,182,802 equity shares at an issue price of ₹1,100 per share. The shares were listed on NSE and BSE on July 14, 2025. The issue was an offer for sale by promoter selling shareholders aggregating ₹19,999.98 million.

3. Employee Stock Options

During FY26, the company granted 284,522 stock options under the 'Travel Food Services Employee Stock Plan 2024'. 4,652 options were forfeited during the year, leaving 279,870 options outstanding as of March 31, 2026. No equity shares were allotted as options were not vested.

4. Segment Reporting

The company operates primarily in one reportable segment: Travel QSR outlets and Lounge services.

5. Impact of New Labour Codes

Effective November 21, 2025, the Government of India consolidated labour regulations into four new codes. This resulted in an incremental expense of ₹79.93 million (standalone) and ₹83.41 million (consolidated) for past service costs, recognized under employee benefit expenses.

6. Subsidiary Buyback

Travel Food Services (Delhi Terminal 3) Private Limited (a subsidiary) undertook a buyback of shares.

The company received ₹103.96 million from buying back 1,601,851 shares it held at ₹64.90 per share.
A gain of ₹91.66 million was recognized in the standalone P&L from this transaction.
The subsidiary also bought back 2,669,752 shares from non-controlling interests, resulting in a cash outflow of ₹69.31 million at the consolidated level. No gain or loss was recognized in the consolidated statements for this portion.

7. Material Uncertainty - Subsidiary Licence

The subsidiary, Delhi T3, holds a licence agreement scheduled to expire on September 30, 2026. Management has assessed that this does not cast significant doubt on the Group's ability to continue as a going concern, given the Group's overall positive cash flows and liquidity.

Other Information

The complete statements of financial results, auditor's reports, and annexures are available on the company's website (www.travelfoodservices.com) and the websites of BSE and NSE.
The information has been uploaded to the company website as per regulatory requirements.