Travel Food Services Ltd
TRAVELFOODTravel Food Services Ltd is coiled. The quarters are improving, yet the P/E sits at the 25th percentile of its own 1-year range — the business is moving before the market.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is in a confirmed uptrend (14 weeks in) while the P/E sits at the 25th percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +15.0% year on year, and 112% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Travel Food Services Ltd trades at ₹1,294, in a confirmed uptrend and 14 weeks into that stage. That is +5.4% against its own 200-day average. It sits at 71% of a 52-week range of ₹1,065 to ₹1,389. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 7 straight weeks.
Today the stock is in a confirmed uptrend — week 14 of stage 2, confirmed. At ₹1,294 it trades +5.4% versus its 200-day average and sits at 71% of its 52-week range (₹1,065–₹1,389).
Against the market, two honest reads. Cumulative: over the last 1.0 years the stock moved +13% while the NIFTY 500 moved +0% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 7 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 25th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Travel Food Services Ltd trades at 38.4× P/E, near the bottom of its own range — cheaper only 25% of the time. Its long-run median P/E is 40.4×, measured across 1.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 38.4× is near the bottom of its own range — cheaper only 25% of the time, against a long-run median of 40.4× measured over 1.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.
Why the multiple sits where it does: over the past year annual EPS moved +21.4% against a +13.4% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
The PEG ratio, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 6.8% on reported income across 8 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Travel Food Services Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −2.4% | +15.6% | +59.0% | +12.6% |
| Profit | +18.9% | +21.7% | — | +24.4% |
| EPS | +21.4% | −62.4% | — | −10.7% |
| Share price | +13.4% | — | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
64.6/100 — rank 2 of 24 in Hotels · 66% evidence confidence
Travel Food Services Ltd scores 64.6 out of 100 against the 24 companies it is compared with in Hotels, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 20.2 + 20.3 + 9.2 + 14.9 = 64.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Travel Food Services Ltd reported ₹461 Cr of revenue in the Mar 26 quarter, +25.6% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 12.6% a year. The last full year, FY26, came in at ₹1,648 Cr. The last four reported quarters add to ₹1,648 Cr.
Travel Food Services Ltd reported ₹461 Cr of revenue in the Mar 26 quarter, +25.6% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 12.6% a year. The last full year, FY26, came in at ₹1,648 Cr. The last four reported quarters add to ₹1,648 Cr.
FY26 revenue came in at ₹1,648 Cr (−2.4% on the year), capping 10 years at 12.6% compound. The latest quarter (Mar 26) printed ₹461 Cr, +25.6% year on year — the 2nd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged −0.2% growth against the decade's 12.6% — the current year is running slower than its own long-run rate.
→ Revenue grew — did margins hold as it scaled? Next: 40.0% this quarter (+3.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Travel Food Services Ltd's operating margin is 40.0% in the Mar 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged −22.0% to 39.0%. The current quarter is running above every full year in that window.
Travel Food Services Ltd's operating margin is 40.0% in the Mar 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 8 fiscal years the operating margin has ranged −22.0% to 39.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 40.0%, +3.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged −22.0%–39.0%, and FY26's 39.0% is the top of that band — a record year.
Why the margin moved: operating margin went +3.7 pp year on year while gross margin went +4.3 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins held — did that reach the bottom line? Next: profit +15.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Travel Food Services Ltd earned ₹123 Cr of net profit in the Mar 26 quarter, +15.0% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹452 Cr. The 10-year compound rate is 24.4%. That is 26.7% of the quarter's revenue. The same quarter a year earlier earned ₹107 Cr.
Travel Food Services Ltd earned ₹123 Cr of net profit in the Mar 26 quarter, +15.0% year on year. It is the 2nd consecutive quarter of growth. Full-year FY26 profit was ₹452 Cr. The 10-year compound rate is 24.4%. That is 26.7% of the quarter's revenue. The same quarter a year earlier earned ₹107 Cr.
Mar 26 profit was ₹123 Cr, +15.0% year on year — the 2nd consecutive quarter of growth. On the full year, FY26 printed ₹452 Cr (+18.9%), and the 10-year compound rate is 24.4%.
Why profit moved: revenue contributed +25.6% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +23.9% vs revenue −0.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 112% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 112% of Travel Food Services Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹393 Cr of operating cash against ₹452 Cr of profit. After ₹403 Cr of capital spending, ₹−10.0 Cr was left as free cash.
FY26: operating cash of ₹393 Cr against reported profit of ₹452 Cr, leaving free cash of ₹−10.0 Cr after ₹403 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 112% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 112%: the cash cycle tightened 312 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.8× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹692 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Travel Food Services Ltd's cash conversion cycle runs −438 days in FY26, down from −126 days in FY21. Capital spending ran ₹692 Cr over the last 3 years. At FY26 sales of ₹1,648 Cr each day of that cycle holds about ₹4.5 Cr, so roughly ₹−1,978 Cr sits inside the business at any moment.
FY26: debtors at 58 days, inventory at 18 days — roughly 0.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −438 days, tighter than FY21's −126.
The full loop: cash goes out to suppliers and production on day 0; stock waits 18 days to sell; customers pay about 58 days after that; and suppliers themselves are paid at 514 days — netting out to the −438-day cycle.
In money terms: at FY26 sales of ₹1,648 Cr, each day of the cycle holds about ₹4.5 Cr — so the −438-day loop keeps roughly ₹−1,978 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹692 Cr over the last 3 fiscal years against ₹387 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹28.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 42%.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Travel Food Services Ltd earns a ROCE of 42% in FY26. That is up from a trough of −9% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 27.4% net margin on 0.72× asset turns.
FY26 ROCE is 42%, recovered from a FY21 trough of −9% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 27.4% net margin × 0.72× asset turns × 1.58× balance-sheet leverage ≈ 31.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 6.8% on reported income across 8 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.17.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Travel Food Services Ltd carries ₹245 Cr of borrowings against ₹1,443 Cr of equity in FY26, a debt-to-equity of 0.17. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹26.0 Cr to ₹245 Cr. Capital spending ran ₹692 Cr across the last 3 of those years.
FY26: borrowings of ₹245 Cr against equity of ₹1,443 Cr — a debt-to-equity of 0.17. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹26.0 Cr to ₹245 Cr while capital spending ran ₹692 Cr in just the last 3 — part of the build-out is riding on borrowed money.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 6.8% on reported income across 8 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Travel Food Services Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — .
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Travel Food Services Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Travel Food Services Ltd this page | 38.4× | ₹16,938 Cr | No read | |||
| Indian Hotels Co Ltd | 53.3× | ₹1L Cr | Consistent | |||
| ITC Hotels Ltd | 36.2× | ₹33,311 Cr | No read | |||
| EIH Ltd | 28.6× | ₹20,412 Cr | Mixed | |||
| Chalet Hotels Ltd | 27.6× | ₹17,835 Cr | Mixed | |||
| Leela Palaces Hotels & Resorts Ltd | 38.8× | ₹15,853 Cr | No read | |||
| Ventive Hospitality Ltd | 33.5× | ₹14,427 Cr | No read | |||
| Lemon Tree Hotels Ltd | 34.9× | ₹8,664 Cr | Mixed | |||
| Juniper Hotels Ltd | 24.8× | ₹4,296 Cr | No read | |||
| Samhi Hotels Ltd | 9.6× | ₹3,946 Cr | No read | |||
| Apeejay Surrendra Park Hotels Ltd | 39.1× | ₹2,611 Cr | Mixed | |||
| Apeejay Surrendra Park Hotels Ltd | 29.8× | ₹2,528 Cr | Mixed | |||
| Oriental Hotels Ltd | 35.9× | ₹2,408 Cr | Improving | |||
| TajGVK Hotels & Resorts Ltd | 14.6× | ₹2,257 Cr | No read | |||
| EIH Associated Hotels Ltd | 21.0× | ₹1,895 Cr | Topping out | |||
| Asian Hotels (North) Ltd | 484.0× | ₹1,307 Cr | No read | |||
| Benares Hotels Ltd | 28.1× | ₹1,236 Cr | Mixed | |||
| Viceroy Hotels Ltd | 48.7× | ₹892 Cr | No read | |||
| Royal Orchid Hotels Ltd | 27.6× | ₹853 Cr | Mixed | |||
| U P Hotels Ltd | 25.8× | ₹777 Cr | Turning around | |||
| Advent Hotels International Ltd | 15.8× | ₹768 Cr | No read | |||
| Asian Hotels (West) Ltd | 8.2× | ₹670 Cr | No read | |||
| Sayaji Hotels Ltd | — | ₹525 Cr | No read | |||
| Kamat Hotels (India) Ltd | 11.7× | ₹499 Cr | Mixed | |||
| HLV Ltd | 2.8× | ₹473 Cr | No read |
Frequently asked questions
What is Travel Food Services Ltd's share price today?
Travel Food Services Ltd trades at ₹1,294, +13.4% over the past year. The company is valued at ₹16,938 Cr. The stock sits at 71% of its 52-week range of ₹1,065–₹1,389, +5.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 14 weeks in. — as of 24 July 2026.
What were Travel Food Services Ltd's latest quarterly results?
Travel Food Services Ltd reported revenue of ₹461 Cr and net profit of ₹123 Cr for the Mar 26 quarter. Revenue rose 25.6% and profit rose 15.0% year on year. Earnings per share were ₹9.17. The operating margin was 40.0%, 3.0 pp higher than a year earlier. — as of 24 July 2026.
What is Travel Food Services Ltd's revenue?
Travel Food Services Ltd reported revenue of ₹461 Cr in the Mar 26 quarter, +25.6% year on year. For the full FY26 fiscal year, revenue was ₹1,648 Cr (−2.4%). Over the last 10 years revenue compounded at 12.6% a year. — as of 24 July 2026.
What is Travel Food Services Ltd's profit?
Travel Food Services Ltd earned ₹123 Cr of net profit in the Mar 26 quarter, +15.0% year on year — the 2nd straight quarter of growth. Full-year FY26 profit was ₹452 Cr. The operating margin ran 40.0% in the latest quarter. — as of 24 July 2026.
What is Travel Food Services Ltd's market cap?
Travel Food Services Ltd's market capitalisation is ₹16,938 Cr at a share price of ₹1,294. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Travel Food Services Ltd's P/E ratio?
Travel Food Services Ltd trades at a P/E of 38.4×, at the 25th percentile of its own 1-year range, against a long-run median of 40.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Travel Food Services Ltd pay a dividend?
Yes — Travel Food Services Ltd's dividend payout was 31% of profit in FY26, and it recorded a payout in 3 of its last 8 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Travel Food Services Ltd overvalued?
On its own history, Travel Food Services Ltd looks cheap against its own history: its P/E of 38.4× has been cheaper only 25% of the time in 1 years (long-run median 40.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
Is Travel Food Services Ltd growing?
Yes — Travel Food Services Ltd is growing: latest-quarter revenue +25.6% year on year, profit +15.0%, and the margin +3.0 pp at 40.0%. The 10-year compound rates are 12.6% (revenue) and 24.4% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Travel Food Services Ltd performing?
Travel Food Services Ltd is in a confirmed uptrend, 14 weeks in. Its latest quarter's revenue rose 25.6% and profit rose 15.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 7 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Travel Food Services Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 14 of stage 2), trading +5.4% versus its 200-day average and at 71% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Travel Food Services Ltd beating the market?
On recent form, yes — Travel Food Services Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 7 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.0 years the stock moved +13% against the NIFTY 500's +0% — ahead of the index over the full window. — as of 24 July 2026.
Will Travel Food Services Ltd's share price go up?
This page publishes no price forecast for Travel Food Services Ltd. What it measures instead: the share price is ₹1,294, the price is in a confirmed uptrend 14 weeks in. Its P/E of 38.4× sits at the 25th percentile of its own 1-year range. — as of 24 July 2026.
Who owns Travel Food Services Ltd?
Promoters hold 86.2% of Travel Food Services Ltd, foreign institutions 1.6%, domestic institutions 10.0% and the public 2.1% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does Travel Food Services Ltd have too much debt?
No — Travel Food Services Ltd's debt-to-equity is 0.17, and operating profit covers the interest bill 10×. FY26 borrowings were ₹245 Cr against equity of ₹1,443 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Travel Food Services Ltd's capex?
Travel Food Services Ltd spent ₹692 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹403 Cr, with ₹28.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Travel Food Services Ltd's cash flow?
Travel Food Services Ltd generated ₹393 Cr of operating cash flow in FY26 and ₹−10.0 Cr of free cash flow after ₹403 Cr of capital spending. Reported profit that year was ₹452 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Travel Food Services Ltd's profit real cash?
Yes — over the last 3 fiscal years, 112% of Travel Food Services Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹393 Cr against reported profit of ₹452 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Travel Food Services Ltd in its business cycle?
Travel Food Services Ltd's FY26 operating margin was 39.0%, against a 8-year band of −22.0%–39.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 40.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Travel Food Services Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Travel Food Services Ltd a stock worth studying right now?
This is not investment advice. The machine read: Travel Food Services Ltd is coiled. The quarters are improving, yet the P/E sits at the 25th percentile of its own 1-year range — the business is moving before the market. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.