TBO Tek (TBOTEK) investor relations material

Executive summary

• Delivered both top-line and bottom-line growth despite severe travel disruptions from Middle East conflicts, with resilience attributed to diversified source markets and timely investments in Europe and North America.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, with statutory auditors issuing unmodified review reports.

• Europe achieved 24% year-on-year growth, and North America now represents nearly a quarter of hotel GTV following the Classic Vacations acquisition.

• Middle East region managed flat performance with 1% constant currency growth despite being at the center of the crisis.

• Operating leverage became evident, with EBITDA margins expanding faster than revenue margins, and further margin expansion expected as top-line growth normalizes.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was INR 9,257.80 Mn, up from INR 5,112.78 Mn in Q1 FY26.

• Consolidated profit for the period was INR 833.58 Mn, compared to INR 629.68 Mn in Q1 FY26.

• Organic business delivered 15% year-on-year growth in constant currency, with Europe and APAC leading growth.

• EBITDA to GTV reached 1.3% this quarter, benefiting from Classic seasonality and operating leverage.

• Net cash position reported at INR 1,980+ crore, with $70 million and €6 million in loans.

Outlook and guidance

• Financial results for Q1 FY27 include Classic Vacations LLC, acquired in October 2025, making results not directly comparable to prior periods.

• Expectation for Q2 to be seasonally stronger than Q1, with both quarter-on-quarter and year-on-year growth targeted.

• Margin expansion anticipated as SG&A growth remains slower than gross profit growth; further operating leverage expected as integration of Classic completes.

• Growth trajectory in Europe, APAC, and North America expected to continue, with normalization post-crisis likely to restore pre-war growth rates.