Travel Food Services (TRAVELFOOD) Q4 25/26 earnings summary

Executive summary

• FY 2026 marked the first full year as a listed company, demonstrating resilience amid disruptions such as geopolitical conflicts and airline operational issues.

• System-wide sales grew 25.4% year-over-year to INR 32,144 million, with adjusted consolidated PAT up 21.5% to INR 4,523 million.

• The network expanded to 557 outlets across 20 airports, including new international lounges in Hong Kong and Malaysia, and operations scaled at Cochin, Delhi, and Navi Mumbai.

• Maintained operational resilience and continued focus on premiumization, regional menu innovation, and technology integration through the EAT platform.

• Audited standalone and consolidated financial results for FY26 were approved, with an unmodified auditor opinion, and a dividend of Rs. 10.25 per share was recommended.

Financial highlights

• Q4 system-wide sales reached INR 8,954 million, up 27.7% year-over-year; consolidated revenue grew 25.7% to INR 4,600 million.

• Full-year consolidated revenue from operations was INR 16,478 million, up 13.9% year-over-year (adjusted basis); consolidated PAT for FY26 was INR 4,523 million.

• EBITDA for FY26 was INR 6,485 million, up 21.3% year-over-year, with a margin of 39.4%.

• Gross profit margin improved to 87.3% in Q4FY26, up 430 bps YoY; EBITDA margin rose to 40.4%, up 368 bps YoY.

• Earnings per share (consolidated, basic) for FY26 was Rs. 33.49, up from Rs. 27.58 in FY25.

Outlook and guidance

• Near-term environment expected to remain dynamic due to geopolitical and airline capacity factors, but long-term Indian aviation growth remains robust.

• Passenger traffic growth for FY27 anticipated at around 5%, with recovery expected as disruptions ease.

• Continued expansion planned at new airports (e.g., Noida, Bhogapuram) and internationally, with focus on technology advancement and global lounge reach.

• CapEx guidance of INR 50–60 crore annually for new outlet mobilization.