TBO Tek share price today

TBO Tek Ltd's share price was ₹1,576.50 at the close on 5 November 2026. It has been rising for 14 weeks. That is 4.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,068 and ₹1,711, and at that close it sat 79% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today TBO Tek Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 27 weeks in a row.

Over the last 2.5 years the share price moved +8% while the NIFTY 500 moved +3%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) raised their stake for 4 quarters in a row, foreign funds (FIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 10 quarters in a row (every quarter we can compare).

1. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row

   From 18.9% to 27.2% of the company by the September 2026 quarter.

2. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 30.9% to 22.5% of the company by the September 2026 quarter.

3. Revenue up on a year earlier for 10 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹926 crore, +81.2% on a year earlier.

   Why: Revenue rose because the company booked more travel in Europe and because the Classic Vacations purchase added North America to the group.

   Next results: check whether Europe and APAC keep leading growth, as management expects.

   From the earnings call on 30 Jul 2026.

For July to September 2026 (the quarter ended 30 September 2026), TBO Tek reported revenue of ₹866 crore, up 52.5% from ₹568 crore a year earlier, and a profit of ₹76.0 crore, up 11.8% from ₹68.0 crore.

TBO Tek results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 30 July 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

TBO Tek closed at ₹1,576.50 on 5 November 2026, down 1.5% from ₹1,600.00 a year earlier (7 November 2025). Its highest weekly close since May 2024 was ₹1,902.90 on 28 June 2024.

TBO Tek share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

134 weekly closes from 18 May 2024 to 5 November 2026.

5 Nov 2026: TBO Tek closed at ₹1,576.50, up 2.9% on the week and down 5.4% on the month. Results for July to September 2026: Revenue up 52.5% and profit up 11.8% on a year earlier.

Earlier

• Our read, 22 Aug 2026: TBO connects travel agencies to global hotel and airline inventory, earning approximately 10-11% take rate on hotels and 1-2% on flights, with suppliers paying the platform before the platform pays agents, a structural negative working capital model that generates float at scale. The company acquired Classic Vacations in October 2025 for move into North American luxury travel, adding $500M GTV and 10,000 high-end advisors, and recorded this on its balance sheet as a 1,274 crore increase in fixed assets between March 2025 and March 2026.
• 30 Jul 2026: TBO Tek held its results call for April to June 2026. Management guided: July to September 2026 sequential performance should be better than Q1, supported by the historically stronger northern-hemisphere travel season; expected margin expansion is seasonal, not a flat run-rate commitment.

Our read of the business

TBO connects travel agencies to global hotel and airline inventory, earning approximately 10-11% take rate on hotels and 1-2% on flights, with suppliers paying the platform before the platform pays agents, a structural negative working capital model that generates float at scale. The company acquired Classic Vacations in October 2025 for move into North American luxury travel, adding $500M GTV and 10,000 high-end advisors, and recorded this on its balance sheet as a 1,274 crore increase in fixed assets between March 2025 and March 2026.

April to June 2026: Growth delivered through the worst disruption in two years; operating leverage visible for the first time.

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

TBO Tek has paid no dividend on the NSE since its first NSE close in our records (18 May 2024), the start of the period we checked.

No. TBO Tek Ltd paid out 0% of its profit as dividends in each of its last 9 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 July 2026, TBO Tek's management guided: July to September 2026 sequential performance should be better than Q1, supported by the historically stronger northern-hemisphere travel season; expected margin expansion is seasonal, not a flat run-rate commitment.

“This was by far the toughest quarter for the company in the last 2 years. In spite of that, the company has delivered growth both on the frontline and bottom line, and we are very proud of it.”Gaurav Bhatnagar, on the call for April to June 2026

What management guided

• Organic growth should return to the normal growth profile seen before the disruption once conditions normalize, although management could not determine whether normalization occurs in Q3 or Q4.
• Europe and APAC are expected to remain the leading growth regions, while North American like-for-like growth should emerge as comparisons mature around October, November or December.
• GP-to-operating profit conversion should continue improving because SG&A growth is expected to remain below GP growth unless management accelerates market development.
• Classic Vacations platform integration is likely to be completed by the end of this calendar year.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

One change in TBO Tek's own numbers looks lasting: new regions and countries.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Management accelerates market-development spending on new geographies, pushing organic SG&A growth above gross profit growth for two consecutive quarters.

Each change stops working if

• : Management accelerates market-development spending on new geographies, pushing organic SG&A growth above gross profit growth for two consecutive quarters.
• : Platform migration extends beyond March 2027, or Classic operating margin falls below 2% for two quarters, indicating integration stall rather than progress.
• : Europe GTV growth falls below 10% year-on-year for two consecutive quarters after the Middle East normalization comparison base resets, indicating the share-gain thesis has ended.

The main risks

• : Middle East is the largest source market and remains under geopolitical disruption with no recovery timetable from management, any extended conflict continuation materially delays the margin recovery. ⚠ estimate
• : FY26 operating cash flow turned negative for the first time (-21 crore); three-year aggregate operating cash flow-to-profit of 0.73 is manageable but the FY26 miss requires Q2-October to December 2026 recovery to validate management's normalization commitment. ⚠ estimate
• : ROCE compressed from 53% (FY23) to 18% (FY26) as Classic Vacations added 1,274 crore of goodwill-and-intangibles to the balance sheet; return to mid-20s ROCE requires cross-sales synergies that are now 12-18 months away. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When TBO Tek reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Sep 2026 quarter net profit above ₹68 crore (Sep 2025) with operating profit growing at least as fast as revenue, while North America growth on a like-for-like basis starts to show from October to December.

TBO Tek is on 3 of our India lists: Multibagger study list, Momentum stocks and Small & mid cap stocks.

TBO Tek Ltd earned ₹76.0 Cr of net profit in the Sep 2026 quarter, +11.8% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹244 Cr. Over 8 years profit has grown 27.0% a year on average. That is 8.8% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹68.0 Cr.

For the full year, FY26 profit was ₹244 Cr (+6.1% on the year before).

Why profit moved: revenue changed +52.5% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +13.3% and revenue +75.5%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY26-Q4. revenue ₹814 Cr and profit ₹60 Cr as reported.

FY27-Q1. revenue ₹926 Cr and profit ₹83 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

TBO Tek Ltd reported ₹866 Cr of revenue in the Sep 2026 quarter, +52.5% on the same quarter a year earlier. That is the 11th quarter in a row with growth on the year before. Over 8 years it has grown 29.3% a year on average. The last full year, FY26, came in at ₹2,677 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,390 Cr.

FY26 revenue was ₹2,677 Cr, +54.1% on the year before.

Recent pace: the last four quarters grew +75.5% on average, against 29.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +74.1%, against +47.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +13.7%, against +11.9% a year (stabilising).

FY26-Q4. revenue ₹814 Cr and profit ₹60 Cr as reported.

FY27-Q1. revenue ₹926 Cr and profit ₹83 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

TBO Tek Ltd's operating margin was 16.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 9 years it has been between −15.0% and 19.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The operating-leverage catapult applies here: fixed infrastructure costs (technology platform, CRM, business services) were built during the build-out phase; the incremental volume now drops to margin at a high rate. GP-to-EBITDA conversion was 26.0% in Q1 FY27 and management confirmed improvement ahead because SG&A grows slower than gross profit. Organic SG&A grew approximately 4.0% year-on-year in constant currency in Q1 FY27, the gap to double-digit GP growth is the margin channel. Hosting and bandwidth costs fell 14% after infrastructure insourcing and management described this as a permanent new baseline. This model captures operating leverage even as the Middle East headwind…

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed +0.2 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY26-Q4. revenue ₹814 Cr and profit ₹60 Cr as reported.

FY27-Q1. revenue ₹926 Cr and profit ₹83 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 73% of TBO Tek Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 its operations used ₹21.0 Cr of cash, against ₹244 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹1,335 Cr of spending on assets, free cash was −₹1,356 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 73% of profit came in as cash: the cash cycle got 415 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 415 days longer. The next section looks at where the cash is stuck.

TBO Tek Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 724 days in FY26, up from 309 days in FY21. It spent ₹1,671 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,677 Cr, each day of that cycle ties up about ₹7.3 Cr, so roughly ₹5,310 Cr is tied up in the business at any time.

Spending on assets: ₹1,671 Cr over the last 3 years, against ₹174 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹14.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

TBO Tek Ltd's P/E is 60.3×, near the low end of its own history: it has been lower only 18% of the time. Its usual P/E (the middle reading) is 70.5×, over 2.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹25.15.

Why the multiple is where it is: over the past year earnings per share moved +6.3% while the price moved −1.5%. Earnings did better than the price, which pulled the multiple down within its own range.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Worked out from its price on 11 October 2026, TBO Tek Ltd's share price assumed profit growth of about 32.3% a year. Over the past 8 years its profit actually grew 27.0% a year. Today its P/E is 60.3×, lower than 82% of its own last 2.5 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 5 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

TBO Tek Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 20.7%. This is based on 11 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: steady growth with healthy returns is how a business compounds over time.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

TBO Tek Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file.

NOT YET CHECKED

Our read, 22 August 2026. Asset-light B2B travel platform connecting 150,000+ agencies to global hotel and flight inventory; the fixed-cost base is deployed and operating leverage is loading, but four management credibility reversals in nine months and Middle East disruption cloud the timing of the earnings step-up.

From the numbers. The cycle is in the…

From the price. Price stage 2, week 14, above its 200-day line, relative strength falling.

From the research. Asset-light B2B travel platform connecting 150,000+ agencies to global hotel and flight inventory; the fixed-cost base is deployed and operating leverage is loading, but four management credibility reversals in nine…

Where they disagree. The stock sits 11% off its 52-week peak. Two cycle bonuses fire: earnings-driven breakout and the first stage-2 grace period.

What is proven. Asset-light B2B travel platform connecting 150,000+ agencies to global hotel and flight inventory; the fixed-cost base is deployed and operating leverage is loading, but four management credibility reversals in nine months and Middle East disruption cloud the timing of the earnings step-up.

What the surface reading misses. The surface reading is: Operating cash flow negative in FY26 = business consuming cash from operations; quality concern The research reads it further: Working capital absorbed 351 crore in FY26 as the absolute receivable base grew with revenue (+54% YoY), even though debtor days improved from 853 to 724. The cash decomposition shows four specific temporary items: Brazil payment anticipation wind-down (receivables collecting through Q2 FY27), Middle East war-related trade receivable delays, year-end performance bonus accruals, and Eid holiday timing. Management has explicitly enumerated these on the May 2026 call and committed to normalization above 100% CFO-to-PAT by end-FY27. The three-year aggregate of 0.73 confirms the model generates cash in normal years.

What the surface reading misses. The surface reading is: ROCE at 18% falling from 53% = business deteriorating operationally The research reads it further: Operating profit grew from 189 crore (FY23) to 378 crore (FY26), doubling over the period. Capital employed (borrowings + equity = total assets minus current liabilities) expanded approximately 5-6x from the Classic acquisition and IPO proceeds sitting in treasury. The ROCE collapse is denominator-driven, not numerator-driven. ROCE in FY22 was also 18% when capital employed was small before scale built, the pattern is repeated IPO-to-scale transitions.

Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

What TBO Tek Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

Classic Vacations Cross-sales Timeline Reversed · 30 July 2026. In February 2026, management said cross-sales between the two platforms would begin before the two-to-three-quarter platform migration was complete. In July 2026, management said the Classic-to-TBO flow had not started and could not begin until migration, with contribution only expected probably early next year, representing an unexplained reversal in sequencing and a material delay to the acquisition synergy timeline.

AI Advisory Product Confidence Downgraded · 30 July 2026. In February 2026, management described the AI advisory tool as having come out well and as an important adjacency that could support complex itinerary growth. In July 2026, management characterized the tool as very experimental, with only a few bookings and no frontline impact, without explaining the material reduction in confidence or strategic importance.

Abandonment of Accounting Standardization · 11 February 2026. In the November 2025 call, management explicitly stated they were working to convert Classic Vacations' reporting from a 'time of travel' basis to TBO's standard 'time of booking' basis for upcoming quarters. In the February 2026 call, they completely reversed this position, stating that aligning the standards is 'simply not possible' due to business complexity and they will continue running Classic on an 'as-is' basis. Earlier call (Nov 2025): “We are working on to arrive the numbers that we would be reporting in the subsequent quarters based on our accounting policy. There would be some change in the way that historically Classic has been reporting the numbers.” Later call (Feb 2026): “Pratik, we tried that, but it is simply not possible. We will continue to run the business on an as-is basis rather than trying to force-fit it into our business model.”

Contradiction on Hedging Policy · 11 February 2026. During the November 2025 call, management described their hedging policy as an existing, active process covering 70-75% of exposure where payables and receivables differ. However, in the February 2026 call, management claimed that 'material hedging' was a practice only started *after* Q4, implying the previous protection mechanisms were either insignificant or not yet implemented despite the prior assurance. Earlier call (Nov 2025): “Regarding hedging, where we have differences in payments and collections in currencies like INR, Euro, or GBP, we try to hedge 70-75% of that amount.” Later call (Feb 2026): “Any material hedging, especially for our international business, is a practice we started after Q4.”

Every quote above is taken word for word from the company’s own earnings calls.

The acquisition diversifies geography, but integration benefits remain unproved.

Regulatory and governance record

No qualifying company-specific fraud, conduct case or proven lie surfaced. Wipro-related and generic enforcement hits do not establish a TBO case.

Checked 14 October 2026.

TBO Tek Ltd earned a ROCE of 18% in FY26. That is up from a low of 1% in FY21. Its return on capital used (ROIC) is 39.4 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 9.1% net margin and 0.29× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 9.1% net margin × 0.29× asset turnover × 6.00× leverage (assets divided by equity) ≈ 15.8% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 51.4% − 12.0% = +39.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.

The 51.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 37.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

TBO Tek Ltd has total debt of ₹756 Cr against shareholder equity of ₹1,551 Cr as of Jun 2026, so its debt is 0.49× its equity. Year by year, that ratio went from 0.27 in FY22 to 0.49 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Why this happened. Classic Vacations, acquired October 2025, extended the platform into North American luxury travel. North America is now almost a quarter of hotel GTV. The integration has three sequential workstreams: sales coverage expansion (described as mostly complete as of Q1 FY27), CRM and back-office automation (underway), and platform migration (planned by end of calendar year 2026). Reverse cross-sales from Classic advisors to TBO inventory cannot begin until migration completes, management now expects contribution in early 2027, reversing the prior guidance that cross-sales would begin before migration. Classic's full-year EBITDA margin is approximately 2.5% versus TBO's organic 25-26%…

Domestic institutions raised their stake in TBO Tek Ltd by 20.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 27.2% of the company. Foreign institutions moved −20.5 points over the same period, to 22.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +20.6 points over 8 quarters, to 27.2%; Foreign institutions: −20.5 points over 8 quarters, to 22.5%; Promoters: +0.0 points over 8 quarters, to 44.4%.

Why the owners changed: foreign institutions moved −20.5 points and domestic institutions +20.6 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.

For TBO Tek Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

48.8 out of 100, rank 9 of 13 in E-Commerce - Platform - Utility, with 78% of the evidence available.

TBO Tek Ltd scores 48.8 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 9. A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value.

The four parts add up to the total exactly: 15.9 + 16.7 + 5.5 + 10.7 = 48.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

TBO Tek ranks 9 of 13 E-Commerce - Platform - Utility companies on the 4-Factor Sector Score, with 48.8 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: E-Commerce - Platform - Utility, all 13 compared on one page.

TBO Tek is the 5th largest of 13 E-Commerce - Platform - Utility companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Info Edge (India), Urban Company and Pine Labs. Just below it: Indiamart Intermesh, Just Dial and MPS.

E-Commerce - Platform - Utility companies close in size

2. Info Edge (India) Ltd ₹77,136 crore
3. Urban Company Ltd ₹23,566 crore
4. Pine Labs Ltd ₹17,697 crore
5. TBO Tek Ltd ₹17,121 crore
6. Indiamart Intermesh Ltd ₹8,944 crore
7. Just Dial Ltd ₹5,481 crore
8. MPS Ltd ₹3,970 crore

All 13 E-Commerce - Platform - Utility companies, largest first

Companies close in size in other industries

397. Brigade Enterprises Ltd ₹17,199 crore · Realty - National
398. International Gemological Institute Limited ₹17,189 crore · Lab Grown Diamonds
399. TBO Tek Ltd ₹17,121 crore
400. ERIS Lifesciences Ltd ₹17,029 crore · Pharma - Formulators
401. The Ramco Cements Ltd ₹17,005 crore · Cement

Sector Alpha, written by code from the published numbers. Data as of 5 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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