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TRAVEL FOOD SERVICES LIMITED (TRAVELFOOD) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹173B

TF TRAVEL FOOD SERVICES LIMITED TRAVELFOOD · NSE
Price₹1,358
Fair Value₹588.23
Upside-56.7%
Quality70/100
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Mixed Growth
Highly profitable · 26.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Wide moat 98/100
Evidence: High Range ₹381.71 – ₹1,361 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹637.48 to ₹588.23 (−7.7%) since Aug 8, 2026. Share price +5.0% over the past month.

A solid business, but screening 57% overvalued on our models.

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What matters now

  • A high-quality business (quality 70/100), 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 (₹381.71 to ₹1,361). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (13 months)

₹1,429 ₹1,017 Fair Value ₹588.23 Jul 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

13‑month range ₹1,017 – ₹1,429 · fair‑value band ₹381.71 – ₹1,361 · the ₹1,358 price screens above the ₹588.23 fair value. As of Aug 13, 2026.

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Analysis

TRAVEL FOOD SERVICES LIMITED (TRAVELFOOD) currently trades at ₹1,358, while our model-based Fair Value estimate is ₹588.23, implying the stock looks roughly 56.7% overvalued today. The Quality Score stands at 70/100 (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, TRAVEL FOOD SERVICES LIMITED generated revenue of ₹16.5B at a net margin of 26.8%. Revenue grew 25.7% year over year. It earns a return on equity of 35.7%. Net debt stands at ₹366M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹381.71 (bear case) to ₹1,361 (bull case); at ₹1,358, 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 6% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -51% fair-value upside, at -57%, TRAVELFOOD 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹428.63 ₹794.18 ₹1,533 80
Residual Income ₹254.09 ₹380.39 ₹3,967 76
Rev-Margin DCF ₹210.40 ₹367.85 ₹636.31 74
All 26 models by family
DCF Models
FCF DCF ₹455.48 ₹714.64 ₹1,540 38
Owner Earnings ₹661.70 ₹1,501 ₹3,263 31
5Y Revenue Exit ₹210.40 ₹321.36 ₹545.84 39
5Y EBITDA Exit ₹456.98 ₹826.30 ₹1,541 41
5Y P/E Exit ₹538.55 ₹1,214 ₹2,130 38
10Y Revenue Exit ₹278.25 ₹499.32 ₹628.73 36
10Y EBITDA Exit ₹461.69 ₹1,018 ₹2,044 37
10Y P/E Exit ₹520.82 ₹1,190 ₹2,363 35
Earnings-Based
Graham-Dodd ₹227.75 ₹1,588 ₹2,229 54
Lynch FV ₹565.02 ₹807.17 ₹1,049 50
PEG = 1.0 ₹565.02 ₹807.17 ₹1,049 46
EPV ₹288.22 ₹335.65 ₹377.15 59
Dividend Discount
Gordon GGM ₹41.87 ₹87.05 ₹138.10 70
DDM Multi-Stage ₹41.87 ₹73.41 ₹91.37 61
Multiples
P/E Multiple ₹552.63 ₹736.83 ₹921.04 63
P/S Multiple ₹112.62 ₹150.16 ₹187.71 58
P/B Multiple ₹328.69 ₹438.25 ₹547.81 55
EV/EBIT ₹514.27 ₹684.48 ₹854.70 53
EV/EBITDA ₹446.88 ₹594.63 ₹742.38 54
EV/Revenue ₹108.74 ₹153.79 ₹198.84 43
Asset-Based
NCAV (Graham) ₹54.78 ₹73.41 ₹109.56 50
Growth DCF
Growth DCF ₹428.63 ₹794.18 ₹1,533 80
Rev-Margin DCF ₹210.40 ₹367.85 ₹636.31 74
Economic Profit
Residual Income ₹254.09 ₹380.39 ₹3,967 76
ROIC Compounder ₹368.35 ₹541.11 ₹783.60 72
Growth Earnings
Growth-Adj P/E ₹746.47 ₹1,066 ₹1,386 68

Widest divergence: Growth Earnings (₹1,066) versus Dividend Discount (₹73.41). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹16.5B
Revenue growth (YoY) +25.7%
Net margin 26.8%
Return on equity 35.7%
Free cash flow ₹3.5B FY2026
P/E ratio 40.7
More key figures
Operating margin 31.8%
EPS (TTM) ₹33.36
EPS growth (YoY) +17.2%
Net debt ₹366M FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 68 · Market factors (momentum, volatility) 67

Profitability 88
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Travel Food Services Limited, together with its subsidiaries, manages and operates travel quick service restaurants (QSRs) and lounge in travel locations in India and internationally. The company owns and operates QSRs, restaurants, bars, cafes, food courts, and banqueting, as well as outdoor catering, and corporate food services.

Full company description

Travel Food Services Limited, together with its subsidiaries, manages and operates travel quick service restaurants (QSRs) and lounge in travel locations in India and internationally. The company owns and operates QSRs, restaurants, bars, cafes, food courts, and banqueting, as well as outdoor catering, and corporate food services. It also operates lounges in domestic and international airports. The company was incorporated in 2007 and is based in Mumbai, India. Travel Food Services Limited operates as a subsidiary of Ssp Asia Pacific Holdings Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

TRAVEL FOOD SERVICES LIMITED reported revenue of ₹16.5B in FY2026 versus ₹3.9B in FY2022, a compound +43.5%/yr. Reported net income was ₹4.4B in FY2026, compounding +205.5%/yr from FY2022.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹16.5B
Latest YoY
−2.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.6%
Revenue +43.5%/yr
FY22 ₹3.9B
FY23 ₹10.7B
FY24 ₹14.0B
FY25 ₹16.9B
FY26 ₹16.5B
Net income +205.5%/yr
FY22 ₹50.7M
FY23 ₹2.4B
FY24 ₹2.9B
FY25 ₹3.6B
FY26 ₹4.4B

TRAVELFOOD screens 57% overvalued. Compare with McDonald's Corporation →

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Cite: Fair Value Calculator (2026). "TRAVEL FOOD SERVICES LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/TRAVELFOOD

Peer Group

Restaurants · 228 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.

Quality Score 70 · Top 25%
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 36% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 26% · Top 25%
Dividend yield (TTM) 0.3% · Bottom 25%

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 40.7× · Pricier than 75% of peers
P/B 11.96× · Pricier than 75% of peers
P/S (TTM) 10.48× · Pricier than 75% of peers
P/FCF 0.5× · Cheaper than median
EV/EBITDA 26.5× · Pricier than 75% of peers

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 · sector 20
FUTURE 100 · sector 19
PAST 100 · sector 14
HEALTH 100 · sector 97
DIVIDEND 7 · sector 71

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $32.00 $17.92 -44%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.90 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $353.72 $227.31 -36%

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Frequently asked questions

Is TRAVEL FOOD SERVICES LIMITED (TRAVELFOOD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹588.23 versus a price of ₹1,358, about −57% (overvalued).
What is the fair value of TRAVELFOOD?
Our model-based fair value for TRAVEL FOOD SERVICES LIMITED is ₹588.23 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,358.
What is the quality score of TRAVELFOOD?
TRAVEL FOOD SERVICES LIMITED has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of TRAVEL FOOD SERVICES LIMITED (TRAVELFOOD)?
TRAVEL FOOD SERVICES LIMITED reported trailing-twelve-month revenue of about ₹16.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TRAVELFOOD?
The net profit margin of TRAVEL FOOD SERVICES LIMITED is about 26.8%, meaning it keeps roughly 26.8% of revenue as net income. Based on the latest reported figures.

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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