Key Financial Performance Highlights

Quarterly Performance (Q4FY26 vs Q4FY25)

  • System-wide Sales: ₹8,954 million (up 27.7% YoY from ₹7,010 million)
  • Consolidated Sales: ₹4,607 million (up 25.7% YoY from ₹3,666 million)
  • Consolidated PAT: ₹1,226 million (up 15.1% YoY from ₹1,066 million)
  • Consolidated PAT Margin: 26.6% (down 246 bps from 29.1%)

Annual Performance (FY26 vs FY25)

  • System-wide Sales: ₹32,144 million (up 25.4% YoY from ₹25,642 million)
  • Consolidated Sales: ₹16,478 million (up 13.9% YoY on adjusted basis from ₹14,470 million*)
  • Consolidated PAT: ₹4,523 million (up 21.5% YoY on adjusted basis from ₹3,722 million*)
  • Consolidated PAT Margin: 27.4% (up 173 bps from 25.7%)

*FY25 consolidated financials are adjusted for the one-time effect of the deconsolidation of the JV business, Semolina Kitchens Ltd, effective October 14, 2024. FY25 adjusted consolidated sales exclude ₹2,408 million of Semolina Kitchens sales, and adjusted consolidated PAT excludes net profit of ₹99 million from Semolina Kitchens but includes profit in proportion to TFS' current shareholding (₹25 million).

Operational Performance Drivers

Sales Growth Components

  • Like-for-Like (LFL) Sales Growth: 6.1% YoY in Q4FY26 and 9.4% YoY in FY26 at system-wide level
  • Net Contract Gains: 17.3% YoY in Q4FY26 and 13.1% YoY in FY26 at system-wide level
  • Passenger traffic at TFS-managed airports was broadly flat YoY in Q4FY26 and grew 1.2% YoY in FY26

Network Expansion

  • System-wide network expanded to 550+ Travel QSR Outlets and Lounges across 20 airports as of March 31, 2026
  • Travel QSR outlets: 518 outlets (net addition of 76 outlets over the year)
  • Lounges: 39 lounges (up from 37 as of March 31, 2025)
  • New airports added: Cochin Airport (Domestic Terminal 1) and Navi Mumbai Airport
  • Brand portfolio expanded to 145 brands (addition of 18 brands in the year)

Ongoing Projects

  • Mobilization progressing at Delhi Airport (Terminal 1 & Terminal 2), Navi Mumbai Airport, Cochin Airport
  • Noida Airport construction and fit-out works ongoing for commercial operations in H1FY27
  • EATS (Eliteassist Technology and Services Pvt. Ltd.) subsidiary progressing with bank-to-lounge access integration

Dividend Declaration

  • The Board of Directors has recommended a final dividend of ₹10.25 per share of face value ₹1 each for FY2026
  • Subject to shareholder approval at the ensuing Annual General Meeting

Management Commentary

Mr. Varun Kapur, Managing Director and CEO, highlighted:

  • FY26 marked the company's first full year as a listed company with strong financial performance
  • The company demonstrated operational resilience despite near-term challenges in Q4FY26
  • Headwinds include Middle East conflict, firming input costs, and temporary traffic disruptions
  • The company remains confident in India's long-term aviation growth story