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Last Updated: April 2, 2026, 3:05 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532189 | NSE: ITDC

India Tourism Development Corporation Ltd (ITDC): Intrinsic Value & Share Price Analysis

Fair Value

₹326.61Overvalued by 17.52%vs CMP ₹396.00

P/E (42.4) × ROE (24.2%) × BV (₹39.50) × DY (0.73%)

₹214.13Overvalued by 45.93%vs CMP ₹396.00
MoS: -84.9% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹534.4625%Under (+35%)
Graham NumberEarnings₹90.7718%Over (-77.1%)
Earnings PowerEarnings₹63.2812%Over (-84%)
DCFCash Flow₹226.1612%Over (-42.9%)
Net Asset ValueAssets₹39.588%Over (-90%)
EV/EBITDAEnterprise₹107.2910%Over (-72.9%)
Earnings YieldEarnings₹92.708%Over (-76.6%)
Revenue MultipleRevenue₹99.826%Over (-74.8%)
Consensus (8 models)₹214.13100%Overvalued
Key Drivers: EPS CAGR 63.6% lifts DCF — verify sustainability. | Wide model spread (₹40–₹534) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 63.6%

*Investments are subject to market risks

Investment Snapshot

76
India Tourism Development Corporation Ltd (ITDC) scores 76/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 30.5% ExcellentROE 24.2% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 87.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (8% → 17%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +15% YoY GrowingProfit (4Q): +18% YoY Positive
Industry Rank100/100 · Strong
P/E 42.4 vs industry 305.4 Cheaper than peersROCE 30.5% vs industry 12.6% Above peersROE 24.2% vs industry 10.4% Above peers3Y sales CAGR: 25% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:05 am

Market Cap 3,392 Cr.
Current Price 396
Intrinsic Value₹214.13
High / Low 714/368
Stock P/E42.4
Book Value 39.5
Dividend Yield0.73 %
ROCE30.5 %
ROE24.2 %
Face Value 10.0
PEG Ratio0.67

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for India Tourism Development Corporation Ltd (ITDC)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
India Tourism Development Corporation Ltd (ITDC) 3,392 Cr. 396 714/36842.4 39.50.73 %30.5 %24.2 % 10.0
Taj GVK Hotels & Resorts Ltd 1,998 Cr. 319 540/28117.0 1080.63 %20.8 %16.2 % 2.00
EIH Associated Hotels Ltd 1,715 Cr. 281 435/26617.4 85.91.24 %25.7 %19.2 % 10.0
Oriental Hotels Ltd 1,590 Cr. 89.0 169/80.028.6 38.70.56 %9.45 %5.99 % 1.00
Benares Hotels Ltd 1,225 Cr. 9,426 12,000/9,00027.8 1,4080.27 %37.3 %28.3 % 10.0
Industry Average7,257.68 Cr440.10305.42103.090.32%12.62%10.35%6.81

All Competitor Stocks of India Tourism Development Corporation Ltd (ITDC)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1181541181311351418514614420088118185
Expenses 9513496107112116771261181687999152
Operating Profit 232022242325820253291933
OPM % 20%13%19%18%17%17%9%14%18%16%10%16%18%
Other Income 6243564674668
Interest 0000030000000
Depreciation 2122212222222
Profit before tax 27212525252610243035122338
Tax % 17%54%31%24%29%62%-22%2%31%28%21%30%27%
Net Profit 23101719181012242125101628
EPS in Rs 2.641.172.032.242.101.161.382.782.422.931.151.923.27

Last Updated: March 4, 2026, 9:06 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 459492459349346354347177289461509570591
Expenses 471478441340372335329222291389415485498
Operating Profit -1214189-271918-44-171948593
OPM % -3%3%4%3%-8%5%5%-25%-0%16%18%15%16%
Other Income 30341916584425161917182024
Interest 0011111111312
Depreciation 71197778777777
Profit before tax 11362717235535-36108010198109
Tax % 25%12%36%49%38%32%47%2%34%32%37%18%
Net Profit 832189143819-37654648179
EPS in Rs 0.953.712.080.871.354.582.37-4.060.796.437.539.519.27
Dividend Payout % 53%54%72%153%137%46%-0%-0%-0%34%33%30%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)300.00%-43.75%-50.00%55.56%171.43%-50.00%-294.74%116.22%800.00%18.52%26.56%
Change in YoY Net Profit Growth (%)0.00%-343.75%-6.25%105.56%115.87%-221.43%-244.74%410.95%683.78%-781.48%8.04%

India Tourism Development Corporation Ltd (ITDC) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:10%
3 Years:25%
TTM:19%
Compounded Profit Growth
10 Years:10%
5 Years:34%
3 Years:145%
TTM:34%
Stock Price CAGR
10 Years:14%
5 Years:18%
3 Years:13%
1 Year:-23%
Return on Equity
10 Years:8%
5 Years:11%
3 Years:21%
Last Year:24%

Last Updated: September 5, 2025, 7:00 am

Balance Sheet

Last Updated: December 4, 2025, 1:25 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 86868686868686868686868686
Reserves 208214216221222243234195200252220278253
Borrowings 3445111111111
Other Liabilities 295311304307359332298281298595708382382
Total Liabilities 5926146106186676636195635859341,015746721
Fixed Assets 62525157575551454046404241
CWIP 678134666113465
Investments 0000000000000
Other Assets 523556551547606602562511534885970699675
Total Assets 5926146106186676636195635859341,015746721

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 20-3813-715-298-1316-12-353
Cash from Investing Activity + 212015-172312115-350-4
Cash from Financing Activity + 3-5-21-15-9-20-22000-19-22
Net Cash Flow 44-247-2313-25-2-221-152827
Free Cash Flow 15-453-28-1-243-1710-25-543
CFO/OP -185%-252%127%60%-93%-99%98%3%-1,241%-8%8%75%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-15.0010.0014.004.00-28.0018.0017.00-45.00-2.0070.0093.0084.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 65898610210810010213689625477
Inventory Days 77597966604412226811586134220
Days Payable 2572483053323342726731,1197067679371,452
Cash Conversion Cycle -115-100-139-164-165-129-449-715-502-619-748-1,155
Working Capital Days -37-9-18-19-38-1222-161-145-24441
ROCE %4%11%12%9%-2%11%10%-12%2%27%34%31%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 87.03%87.03%87.03%87.03%87.03%87.03%87.03%87.03%87.03%87.03%87.03%87.03%
FIIs 0.02%0.02%0.02%0.00%0.09%0.01%0.00%0.01%0.00%0.00%0.01%0.00%
DIIs 2.17%1.98%1.98%1.86%1.79%1.80%1.80%1.80%1.78%1.78%1.78%1.78%
Public 10.79%10.96%10.97%11.10%11.09%11.16%11.17%11.17%11.19%11.19%11.18%11.19%
No. of Shareholders 17,49417,65618,48219,49428,13128,15830,40330,20831,15130,88430,74330,101

Shareholding Pattern Chart

No. of Shareholders

India Tourism Development Corporation Ltd (ITDC): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 9.428.206.900.58-3.87
Diluted EPS (Rs.) 9.428.206.900.58-3.87
Cash EPS (Rs.) 10.208.947.641.52-3.50
Book Value[Excl.RevalReserv]/Share (Rs.) 42.4145.3638.6732.2332.36
Book Value[Incl.RevalReserv]/Share (Rs.) 42.4145.3638.6732.2332.36
Revenue From Operations / Share (Rs.) 66.5062.0354.0533.7420.62
PBDIT / Share (Rs.) 12.4013.7710.781.52-3.16
PBIT / Share (Rs.) 11.6312.969.960.74-3.97
PBT / Share (Rs.) 11.5212.589.861.16-3.91
Net Profit / Share (Rs.) 9.428.136.820.74-4.31
NP After MI And SOA / Share (Rs.) 9.518.206.900.79-4.03
PBDIT Margin (%) 18.6522.1919.934.50-15.31
PBIT Margin (%) 17.4920.9018.422.20-19.23
PBT Margin (%) 17.3120.2718.233.44-18.96
Net Profit Margin (%) 14.1713.1112.622.21-20.90
NP After MI And SOA Margin (%) 14.2913.2212.762.34-19.53
Return on Networth / Equity (%) 22.4118.0717.302.37-12.04
Return on Capital Employeed (%) 26.2527.7121.961.91-10.12
Return On Assets (%) 10.926.596.331.15-6.29
Asset Turnover Ratio (%) 0.620.530.610.490.29
Current Ratio (X) 1.781.451.521.872.08
Quick Ratio (X) 1.731.431.501.832.03
Inventory Turnover Ratio (X) 36.280.000.000.000.00
Dividend Payout Ratio (NP) (%) 26.5026.820.000.000.00
Dividend Payout Ratio (CP) (%) 24.5124.430.000.000.00
Earning Retention Ratio (%) 73.5073.180.000.000.00
Cash Earning Retention Ratio (%) 75.4975.570.000.000.00
Interest Coverage Ratio (X) 106.0136.52103.7312.41-23.91
Interest Coverage Ratio (Post Tax) (X) 82.0622.8866.832.92-30.79
Enterprise Value (Cr.) 4801.354836.892058.313023.243053.72
EV / Net Operating Revenue (X) 8.429.094.4410.4517.27
EV / EBITDA (X) 45.1340.9622.27232.06-112.75
MarketCap / Net Operating Revenue (X) 8.8210.185.4611.2318.62
Retention Ratios (%) 73.4973.170.000.000.00
Price / BV (X) 13.8313.927.4011.3711.49
Price / Net Operating Revenue (X) 8.8210.185.4611.2318.62
EarningsYield 0.010.010.020.00-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

India Tourism Development Corporation Ltd. is a Public Limited Listed company incorporated on 31/03/1965 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1965GOI004363 and registration number is 004363. Currently Company is involved in the business activities of Hotels and motels, inns, resorts providing short term lodging facilities; includes accommodation in house boats. Company's Total Operating Revenue is Rs. 565.20 Cr. and Equity Capital is Rs. 85.77 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Hotels, Resorts & RestaurantsScope Complex, New Delhi Delhi 110003Contact not found
Management
NamePosition Held
Mrs. Mugdha SinhaManaging Director
Mr. Rajesh RanaDirector - Commercial & Marketing
Mr. Lokesh Kumar AggarwalDirector - Finance & CFO
Dr. Manan KaushalIndependent Director
Mr. Ranjana ChopraGovernment Nominee Director

FAQ

What is the intrinsic value of India Tourism Development Corporation Ltd (ITDC) and is it undervalued?

As of 15 April 2026, India Tourism Development Corporation Ltd (ITDC)'s intrinsic value is ₹214.13, which is 45.93% lower than the current market price of ₹396.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (24.2 %), book value (₹39.5), dividend yield (0.73 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of India Tourism Development Corporation Ltd (ITDC)?

India Tourism Development Corporation Ltd (ITDC) is trading at ₹396.00 as of 15 April 2026, with a FY2026-2027 high of ₹714 and low of ₹368. The stock is currently near its 52-week low. Market cap stands at ₹3,392 Cr..

How does India Tourism Development Corporation Ltd (ITDC)'s P/E ratio compare to its industry?

India Tourism Development Corporation Ltd (ITDC) has a P/E ratio of 42.4, which is below the industry average of 305.42. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is India Tourism Development Corporation Ltd (ITDC) financially healthy?

Key indicators for India Tourism Development Corporation Ltd (ITDC): ROCE of 30.5 % indicates efficient capital utilization; ROE of 24.2 % shows strong shareholder returns. Dividend yield is 0.73 %.

Is India Tourism Development Corporation Ltd (ITDC) profitable and how is the profit trend?

India Tourism Development Corporation Ltd (ITDC) reported a net profit of ₹81 Cr in Mar 2025 on revenue of ₹570 Cr. Compared to ₹6 Cr in Mar 2022, the net profit shows an improving trend.

Does India Tourism Development Corporation Ltd (ITDC) pay dividends?

India Tourism Development Corporation Ltd (ITDC) has a dividend yield of 0.73 % at the current price of ₹396.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in India Tourism Development Corporation Ltd (ITDC). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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