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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Thomas Cook (India) Ltd

About the Company - Thomas Cook (India) Ltd

Thomas Cook (India) Ltd. is a Public Limited Listed company incorporated on 21/10/1978 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L63040MH1978PLC020717 and registration number is 020717. Currently Company is involved in the business activities of Travel agency and tour operator activities. Company’s Total Operating Revenue is Rs. 285.74 Cr. and Equity Capital is Rs. 44.23 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Travel/Tourism/Amusement Park11th Floor, Marathon FutureX Building, Mumbai Maharashtra 400013sharedept@thomascook.in
http://www.thomascook.in
Management
NamePosition Held
Mr. Madhavan MenonExecutive Chairman
Mrs. Kishori UdeshiNon Exe. & Ind. Director
Mr. Mahesh IyerManaging Director & CEO
Mr. Pravir Kumar VohraInd. Non-Executive Director
Mrs. Sharmila A KarveInd. Non-Executive Director
Mr. Nilesh VikamseyInd. Non-Executive Director
Mr. Sunil MathurInd. Non-Executive Director
Mr. Sumit MaheshwariNon Executive Director
Mr. Gopalakrishnan SoundarajanNon Executive Director
Mr. Chandran RatnaswamiNon Executive Director

Thomas Cook (India) Ltd. Share Price Update

Share PriceValue
Today₹169.25
Previous Day₹170.85

Basic Stock Data of Thomas Cook (India) Ltd

Market Cap 7,964 Cr.
Current Price 169
High / Low190/52.1
Stock P/E41.2
Book Value 38.8
Dividend Yield0.23 %
ROCE5.23 %
ROE0.39 %
Face Value 1.00

Data Source: screener.in

Competitors of Thomas Cook (India) Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Wonderla Holidays Ltd 5,426 Cr. 9591,013/38031.9 1830.25 %22.0 %16.4 % 10.0
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) 74,564 Cr. 9321,050/55765.7 35.60.59 %59.2 %45.4 % 2.00
Industry Average39.5 Cr945.548.8109.30.42%40.6%30.9%6

Thomas Cook (India) Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales2363572883307485229761,2221,5361,3131,8991,8431,893
Expenses3104173974127375309401,1801,4721,2771,7751,7411,777
Operating Profit-74-60-109-8211-836426436124103116
OPM %-31%-17%-38%-25%1%-1%4%3%4%3%7%6%6%
Other Income354128212412132611332848
Interest14161216161720192823262324
Depreciation36333233333130313230303133
Profit before tax-89-68-125-110-36-52-2530-610177107
Tax %26%70%25%22%33%1%-153%100%12%-74%28%32%16%
Net Profit-66-20-94-85-25-50-6027-10715191
EPS in Rs-1.57-0.27-2.21-1.96-0.61-1.10-0.120.020.39-0.151.551.001.75

Thomas Cook (India) Ltd Quarterly Chart

Thomas Cook (India) Ltd Profit & Loss

MonthDec 2011Dec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3924301,2873,2446,0948,76211,2486,6036,8337951,8885,0486,949
Expenses2853171,1403,0015,9108,42510,8766,5206,7261,1472,0754,8706,569
Operating Profit10711314724318433837283107-352-187178379
OPM %27%26%11%7%3%4%3%1%2%-44%-10%4%5%
Other Income199641-31846,005168761465562119
Interest31313471921321497310162628996
Depreciation14141841619113767151148129124125
Profit before tax817710217111996,091110-69-416-32227278
Tax %30%35%33%34%6,392%57%-1%19%74%29%21%61%
Net Profit565069112-59866,13189-18-295-25410203
EPS in Rs2.652.372.513.31-2.131.18161.212.29-0.02-6.72-5.180.144.15
Dividend Payout %14%16%0%15%-18%32%0%16%0%0%0%291%

Thomas Cook (India) Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-152.68%245.76%7029.07%-98.55%-120.22%-1538.89%13.90%103.94%
Change in YoY Net Profit Growth (%)0.00%398.44%6783.31%-7127.62%-21.68%-1418.66%1552.79%90.04%

Thomas Cook (India) Ltd Growth

Compounded Sales Growth
10 Years:28%
5 Years:-15%
3 Years:-10%
TTM:63%
Compounded Profit Growth
10 Years:-18%
5 Years:-56%
3 Years:231%
TTM:670%
Stock Price CAGR
10 Years:17%
5 Years:12%
3 Years:54%
1 Year:175%
Return on Equity
10 Years:-24%
5 Years:-2%
3 Years:-9%
Last Year:0%

Thomas Cook (India) Ltd Balance Sheet

MonthDec 2011Dec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital21212527373737373838444747
Reserves3704176631,3021,2111,9508,6348,8561,6271,8911,6511,6661,777
Preference Capital111400000000
Borrowings2261871813761,0421,404425361762612598539462
Other Liabilities3063306541,4212,6093,5753,0003,7533,0662,1942,3213,4043,950
Total Liabilities9239551,5233,1264,8996,96512,09613,0085,4924,7364,6155,6576,235
Fixed Assets2452444751,2001,9032,8431,7232,4032,7072,6282,5802,5762,648
CWIP33597535613712614263
Investments381102083401342197,3987,417100130129106109
Other Assets6365988351,4892,8103,8472,9623,1802,6731,9711,8922,9483,476
Total Assets9239551,5233,1264,8996,96512,09613,0085,4924,7364,6155,6576,235

Thomas Cook (India) Ltd Reserves and Borrowings Chart

Thomas Cook (India) Ltd Cash Flow

MonthDec 2011Dec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 156115219131383273-244253120-581-139649
Cash from Investing Activity -32-103-366-607-165-253-458-263-184351-123-179
Cash from Financing Activity -12-7688565548161477-167-170335-85-230
Net Cash Flow112-65-5989766181-225-178-234105-347239

Thomas Cook (India) Ltd Financial Efficiency Indicators

MonthDec 2011Dec 2012Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days21117994735042284625594541
Inventory Days
Days Payable
Cash Conversion Cycle21117994735042284625594541
Working Capital Days3917-916-39-29-36-63-62-368-164-80
ROCE %18%18%18%17%9%10%6%2%1%-14%-11%5%

Thomas Cook (India) Ltd Financial Efficiency Indicators Chart

Thomas Cook (India) Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters65.60%65.60%65.60%65.60%70.58%72.34%72.34%72.34%72.34%72.34%72.34%63.83%
FIIs0.94%0.61%0.64%0.44%0.41%0.36%0.45%0.48%0.51%0.47%0.57%1.83%
DIIs12.98%12.71%12.03%12.22%9.88%9.11%9.21%9.17%9.20%9.02%8.14%9.26%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.06%
Public18.59%19.22%19.97%19.98%17.64%16.79%16.62%16.63%16.63%16.85%17.74%23.88%
Others1.89%1.86%1.76%1.76%1.50%1.40%1.38%1.38%1.33%1.33%1.21%1.11%
No. of Shareholders75,57583,89587,47792,46090,99588,77984,69983,45679,76677,94377,92882,595

Thomas Cook (India) Ltd Shareholding Pattern Chart

No. of Thomas Cook (India) Ltd Shareholders

Thomas Cook (India) Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Focused Equity Fund120694192.68208.62
Mahindra Manulife Small Cap Fund32000001.5855.31
JM Flexicap Fund14046301.6924.28
Bajaj Finserv Flexi Cap Fund13291171.0322.97
Mahindra Manulife Focused Fund11010861.7319.03
JM Midcap Fund9379632.0716.21
Baroda BNP Paribas India Consumption Fund8000001.1713.83
ITI Multi Cap Fund4825040.998.34
JM Value Fund4304271.497.44
ITI Mid Cap Fund3454080.885.97

Thomas Cook (India) Ltd ROCE Trend

Thomas Cook (India) Ltd EPS Trend

Thomas Cook (India) Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)0.22-6.92-6.83-0.022.29
Diluted EPS (Rs.)0.22-6.92-6.83-0.022.28
Cash EPS (Rs.)2.84-2.85-3.893.512.78
Book Value[Excl.RevalReserv]/Share (Rs.)35.6037.4139.1344.79241.54
Book Value[Incl.RevalReserv]/Share (Rs.)35.6037.4139.1344.79241.54
Revenue From Operations / Share (Rs.)107.3142.6921.02180.62178.11
PBDIT / Share (Rs.)5.13-2.93-5.355.865.33
PBIT / Share (Rs.)2.50-5.84-9.271.883.51
PBT / Share (Rs.)0.55-7.30-11.01-1.821.55
Net Profit / Share (Rs.)0.20-5.76-7.80-0.470.96
NP After MI And SOA / Share (Rs.)0.13-5.18-6.72-0.012.29
PBDIT Margin (%)4.78-6.86-25.463.242.99
PBIT Margin (%)2.32-13.68-44.081.041.97
PBT Margin (%)0.51-17.10-52.38-1.000.86
Net Profit Margin (%)0.19-13.48-37.12-0.260.54
NP After MI And SOA Margin (%)0.12-12.13-31.96-0.011.28
Return on Networth / Equity (%)0.37-13.52-17.01-0.040.95
Return on Capital Employeed (%)4.36-9.69-11.712.401.28
Return On Assets (%)0.11-4.93-5.33-0.010.64
Long Term Debt / Equity (X)0.080.070.070.110.02
Total Debt / Equity (X)0.220.260.230.240.03
Asset Turnover Ratio (%)0.330.070.040.270.29
Current Ratio (X)0.800.670.820.860.97
Quick Ratio (X)0.790.660.810.850.97
Dividend Payout Ratio (NP) (%)0.000.000.00-2015.790.00
Dividend Payout Ratio (CP) (%)0.000.000.009.270.00
Earning Retention Ratio (%)0.000.000.002115.790.00
Cash Earning Retention Ratio (%)0.000.000.0090.730.00
Interest Coverage Ratio (X)2.71-2.11-3.252.202.71
Interest Coverage Ratio (Post Tax) (X)1.13-3.09-3.691.211.49
Enterprise Value (Cr.)2229.992892.171353.56296.128693.51
EV / Net Operating Revenue (X)0.441.531.700.041.32
EV / EBITDA (X)9.24-22.30-6.691.3444.02
MarketCap / Net Operating Revenue (X)0.521.602.340.131.42
Retention Ratios (%)0.000.000.002115.790.00
Price / BV (X)1.541.781.240.541.05
Price / Net Operating Revenue (X)0.521.602.340.131.42
EarningsYield0.00-0.07-0.130.000.01

Thomas Cook (India) Ltd Profitability Ratios (%)

Thomas Cook (India) Ltd Liquidity Ratios

Thomas Cook (India) Ltd Liquidity Ratios (%)

Thomas Cook (India) Ltd Interest Coverage Ratios (X)

Thomas Cook (India) Ltd Valuation Ratios

Fair Value / Intrinsic Value of Thomas Cook (India) Ltd

Fair Value: ₹6.25

The stock is overvalued by 96.30% compared to the current price ₹169

*Investments are subject to market risks

Strength and Weakness of Thomas Cook (India) Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -64.83, which is a positive sign.
  2. The company has higher reserves (2,462.69 cr) compared to borrowings (0.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (128.46 cr) and profit (18.85 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of -1.44 and average Dividend Yield of -10.49%.
  2. The stock has a low average ROCE of 6.58%, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 74.42, which may not be favorable.

Should I Buy Thomas Cook (India) Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Thomas Cook (India) Ltd:
    1. Net Profit Margin: 0.19%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 4.36% (Industry Average ROCE: 40.6%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 1.13
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.79
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E: 40.8 (Industry average Stock P/E: 48.8)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.22
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 Thomas Cook (India) Ltd. 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