Indian Railway Catering & Tourism Corporation (IRCTC) Fair Value & Analysis
Consumer Cyclical · IN · Market cap ₹397B
Fair value as of: Jul 14, 2026
From 26 valuation models · updated 27 days ago
Share price +4.3% over the past month.
A solid business, but screening 41% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The model range is unusually wide (₹239.21 to ₹667.18). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.
How to read this chart
60‑month range ₹307.24 – ₹1,124 · fair‑value band ₹239.21 – ₹667.18 · the ₹519.95 price screens above the ₹307.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.
Analysis
Indian Railway Catering & Tourism Corporation (IRCTC) currently trades at ₹519.95, while our model-based Fair Value estimate is ₹307.34, implying the stock looks roughly 40.9% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Indian Railway Catering & Tourism Corporation generated revenue of ₹52.1B at a net margin of 26.7%. Revenue grew 15.1% year over year. It earns a return on equity of 35.0%. The balance sheet holds a net cash position of ₹27.9B. Fundamentals as of Jul 14, 2026
Our scenario range runs from ₹239.21 (bear case) to ₹667.18 (bull case); at ₹519.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at -41%, IRCTC screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (₹520.69) versus Asset-Based (₹36.08). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 75 · Market factors (momentum, volatility) 38
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Indian Railway Catering & Tourism Corporation Limited engages in the provision of catering and hospitality, Internet ticketing, travel and tourism, and packaged drinking water services in India. The company operates through four segments: Catering & Hospitality, Travel & Tourism, Internet Ticketing, and Packaged Drinking Water.
Full company description
Indian Railway Catering & Tourism Corporation Limited engages in the provision of catering and hospitality, Internet ticketing, travel and tourism, and packaged drinking water services in India. The company operates through four segments: Catering & Hospitality, Travel & Tourism, Internet Ticketing, and Packaged Drinking Water. It provides mobile catering services for Vande Bharat, Rajdhani, Shatabdi, Duronto, Gatiman, Tejas, and mail/express trains as well as engages in the side vending and e-catering activities; and operates and maintains food plazas, fast food units, food courts, refreshment rooms, mini stores, base kitchens, executive lounges, retiring rooms, Rail Yatri Niwas/BNR hotels, and non-railway catering units. The company also offers tourism products and services comprising domestic tour packages, inbound tourist targeted tours, mass tourism, outbound tour packages, and air ticket and corporate travel; and other tourism activities, such as event management, booking of charter trains and coaches, hill and heritage charters, saloon tours and charters, online reservation and accommodation facilities, and adventure tourism. In addition, it offers packaged drinking water under the Rail Neer name; and train ticket booking and travel insurance services, as well as operates irctctourism.com, a tourism portal. The company was incorporated in 1999 and is based in New Delhi, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Indian Railway Catering & Tourism Corporation reported revenue of ₹52.1B in FY2026 versus ₹18.8B in FY2022, a compound +29.1%/yr. Reported net income was ₹13.9B in FY2026, compounding +20.6%/yr from FY2022.
IRCTC screens 41% overvalued. Compare with Booking Holdings →
Peer Group
Travel Services · 90 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Travel Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 25/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Travel Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Booking Holdings BKNG | $182.80 | $152.94 | -16% |
| Airbnb, Inc ABNB | $148.62 | $57.47 | -61% |
| Royal Caribbean Cruises Ltd RCL | $286.96 | $215.19 | -25% |
| Viking Holdings VIK | $100.69 | $43.51 | -57% |
| Carnival Corporation CCL | $26.41 | $31.36 | +19% |
| Expedia Group EXPE | $268.77 | $248.63 | -7% |
| Trip.com Group TCOM | $42.45 | $88.82 | +109% |
| Norwegian Cruise Line Holdings NCLH | $19.46 | $20.28 | +4% |
| Global Business Travel Group GBTG | $9.40 | $4.17 | -56% |
| Travel + Leisure Co TNL | $73.27 | $27.29 | -63% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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