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Last Updated: April 2, 2026, 3:50 am
Author: Getaka|Social: XLinkedIn

Tourism Finance Corporation of India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹46.37Overvalued by 29.53%vs CMP ₹65.80

P/E (25.0) × ROE (8.5%) × BV (₹27.00) × DY (0.91%)

₹32.35Overvalued by 50.84%vs CMP ₹65.80
MoS: -103.4% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹49.5423%Over (-24.7%)
Graham NumberEarnings₹39.9717%Over (-39.3%)
Earnings PowerEarnings₹16.6914%Over (-74.6%)
DCFCash Flow₹38.5414%Over (-41.4%)
Net Asset ValueAssets₹27.067%Over (-58.9%)
EV/EBITDAEnterprise₹0.179%Over (-99.7%)
Earnings YieldEarnings₹26.307%Over (-60%)
ROCE CapitalReturns₹30.837%Over (-53.1%)
Consensus (8 models)₹32.35100%Overvalued
Key Drivers: Wide model spread (₹0–₹50) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.8%

*Investments are subject to market risks

Investment Snapshot

56
Tourism Finance Corporation of India Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 10.7% AverageROE 8.5% AverageD/E 1.92 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.90% (6mo) Slight increasePromoter holding at 3.9% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum70/100 · Strong
Profit (4Q): +30% YoY Strong
Industry Rank50/100 · Moderate
P/E 25.0 vs industry 19.4 In-lineROCE 10.7% vs industry 9.5% Average

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, 3:50 am

Market Cap 3,044 Cr.
Current Price 65.8
Intrinsic Value₹32.35
High / Low 80.5/32.6
Stock P/E25.0
Book Value 27.0
Dividend Yield0.91 %
ROCE10.7 %
ROE8.51 %
Face Value 2.00
PEG Ratio3.66

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

View Share Price Target for Tourism Finance Corporation of India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Tourism Finance Corporation of India Ltd 3,044 Cr. 65.8 80.5/32.625.0 27.00.91 %10.7 %8.51 % 2.00
IFCI Ltd 14,040 Cr. 52.1 74.5/35.735.1 32.90.00 %8.08 %2.60 % 10.0
Housing & Urban Development Corporation Ltd (HUDCO) 33,638 Cr. 168 254/15912.1 90.12.71 %9.62 %15.7 % 10.0
Power Finance Corporation Ltd (PFC) 1,31,245 Cr. 398 444/3305.20 3853.97 %9.73 %21.0 % 10.0
Industry Average45,491.75 Cr170.9819.35133.751.90%9.53%11.95%8.00

All Competitor Stocks of Tourism Finance Corporation of India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue51605958675862655768646670
Interest 21212326262624262624222324
Expenses 57785766109666
Financing Profit25323024362532322135363740
Financing Margin %49%53%50%42%54%43%52%50%36%52%57%55%57%
Other Income 0000000071201
Depreciation 0000000000000
Profit before tax 24322924362532322836383740
Tax % 25%22%17%21%24%17%20%21%18%17%20%21%21%
Net Profit 18252419282025262330312932
EPS in Rs 0.410.550.540.410.610.450.550.550.490.650.660.630.69
Gross NPA %4.58%3.92%5.35%3.76%2.17%2.75%2.81%2.82%5.61%3.22%0.24%0.22%0.38%
Net NPA %3.56%2.95%4.16%2.82%1.38%1.51%1.54%1.55%3.92%1.61%

Last Updated: March 3, 2026, 2:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 5:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue184186185208224230266258254231242252268
Interest 81859091961041211301209110010093
Expenses 20201943201847272530273127
Financing Profit8381757410710898101109111115121147
Financing Margin %45%43%41%35%48%47%37%39%43%48%47%48%55%
Other Income 32124060000084
Depreciation 2111101112111
Profit before tax 8482769710711497100108109114128151
Tax % 30%26%29%27%28%24%17%19%21%20%20%19%
Net Profit 5860547077868181858891104122
EPS in Rs 1.451.491.331.751.922.142.012.001.891.952.022.242.63
Dividend Payout % 17%24%27%23%21%21%0%8%13%25%25%27%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)3.45%-10.00%29.63%10.00%11.69%-5.81%0.00%4.94%3.53%3.41%14.29%
Change in YoY Net Profit Growth (%)0.00%-13.45%39.63%-19.63%1.69%-17.50%5.81%4.94%-1.41%-0.12%10.88%

Tourism Finance Corporation of India Ltd 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:3%
5 Years:-1%
3 Years:0%
TTM:4%
Compounded Profit Growth
10 Years:5%
5 Years:4%
3 Years:5%
TTM:18%
Stock Price CAGR
10 Years:22%
5 Years:54%
3 Years:77%
1 Year:88%
Return on Equity
10 Years:10%
5 Years:9%
3 Years:9%
Last Year:9%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 10, 2025, 3:34 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 81818181818181819090909393
Reserves 3563984334745976566737118479279991,1241,159
Borrowing8629569961,0501,3041,3241,4471,3601,2729999788621,031
Other Liabilities 64658096353043343529392328
Total Liabilities 1,3621,5011,5901,7002,0172,0912,2442,1852,2452,0452,1062,1022,311
Fixed Assets 30302920151418161715151414
CWIP 0000000000000
Investments 138190255248301318219159165338461259390
Other Assets 1,1931,2811,3071,4321,7011,7582,0082,0102,0621,6921,6301,8301,907
Total Assets 1,3621,5011,5901,7002,0172,0912,2442,1852,2452,0452,1062,1022,311

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 191522-7135-54161-171139-137-770
Cash from Investing Activity + -0-0-031-0-0-1-0-2-0-012
Cash from Financing Activity + -11-21-19-19-20-20-22-157-12-2226
Net Cash Flow 7-636115-74139-172193-149-29109
Free Cash Flow 18152224135-54161-171137-137-783
CFO/OP 26%21%26%9%80%-15%81%-65%70%-59%8%42%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-842.00-936.00-977.0042.0019.0017.0046.0026.0024.00-969.00-951.00-831.00

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
ROE % 14%13%11%10%13%12%11%10%10%9%9%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 17.96%17.96%17.96%17.67%8.04%7.85%7.85%3.85%3.85%3.85%3.85%3.85%
FIIs 16.78%16.29%13.01%13.88%3.41%2.97%2.78%2.85%3.44%5.16%4.61%4.34%
DIIs 0.00%0.00%0.00%0.00%0.03%0.04%0.00%0.00%0.00%0.08%0.08%0.01%
Public 65.24%65.73%69.02%68.44%88.53%89.14%89.37%93.31%92.71%90.91%91.46%91.80%
No. of Shareholders 57,31856,95460,67158,81789,50293,48894,98291,84689,25472,94571,55871,446

Shareholding Pattern Chart

No. of Shareholders

Tourism Finance Corporation of India Ltd: 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 22Mar 21Mar 20
FaceValue 10.0010.0010.00
Basic EPS (Rs.) 10.0110.0010.04
Diluted EPS (Rs.) 10.0110.0010.04
Cash EPS (Rs.) 9.6010.2813.09
Book Value[Excl.RevalReserv]/Share (Rs.) 103.6798.0793.35
Book Value[Incl.RevalReserv]/Share (Rs.) 103.6798.0793.35
Revenue From Operations / Share (Rs.) 28.1332.0232.55
PBDIT / Share (Rs.) 25.3828.6327.11
PBIT / Share (Rs.) 25.2228.4927.03
PBT / Share (Rs.) 11.9412.3712.07
Net Profit / Share (Rs.) 9.4410.0010.04
NP After MI And SOA / Share (Rs.) 9.4410.0010.04
PBDIT Margin (%) 90.2589.4183.27
PBIT Margin (%) 89.6788.9683.03
PBT Margin (%) 42.4438.6237.08
Net Profit Margin (%) 33.5631.2230.83
NP After MI And SOA Margin (%) 33.5631.2230.83
Return on Networth / Equity (%) 9.1010.1910.75
Return on Capital Employeed (%) 14.5314.5113.67
Return On Assets (%) 3.803.693.61
Long Term Debt / Equity (X) 0.670.991.11
Total Debt / Equity (X) 1.361.721.92
Asset Turnover Ratio (%) 0.110.110.00
Current Ratio (X) 3.253.573.39
Quick Ratio (X) 3.253.573.39
Dividend Payout Ratio (NP) (%) 7.560.0026.42
Dividend Payout Ratio (CP) (%) 7.440.0020.26
Earning Retention Ratio (%) 92.440.0073.58
Cash Earning Retention Ratio (%) 92.560.0079.74
Interest Coverage Ratio (X) 1.911.781.81
Interest Coverage Ratio (Post Tax) (X) 1.711.621.67
Enterprise Value (Cr.) 1603.451837.831530.73
EV / Net Operating Revenue (X) 6.317.115.83
EV / EBITDA (X) 6.997.957.00
MarketCap / Net Operating Revenue (X) 2.131.921.04
Retention Ratios (%) 92.430.0073.57
Price / BV (X) 0.570.620.36
Price / Net Operating Revenue (X) 2.131.921.04
EarningsYield 0.150.160.29

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Tourism Finance Corporation of India Ltd. is a Public Limited Listed company incorporated on 27/01/1989 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L65910DL1989PLC034812 and registration number is 034812. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company's Total Operating Revenue is Rs. 251.63 Cr. and Equity Capital is Rs. 92.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance - Term Lending Institutions4th Floor,Tower-1, NBCC Plaza, New Delhi Delhi 110017Contact not found
Management
NamePosition Held
Dr. S RaviNon Executive Chairman
Mr. Anoop BaliManaging Director & CFO
Mr. Aditya Kumar HalwasiyaNon Executive Director
Mr. Parkash ChandNon Exe. & Nominee Director
Mr. Ashok Kumar GargIndependent Director
Mr. Bapi MunshiIndependent Director
Mrs. Thankom T MathewIndependent Director
Dr. M S MahabaleshwaraIndependent Director
Mr. Deepak AmitabhIndependent Director

FAQ

What is the intrinsic value of Tourism Finance Corporation of India Ltd and is it undervalued?

As of 14 April 2026, Tourism Finance Corporation of India Ltd's intrinsic value is ₹32.35, which is 50.84% lower than the current market price of ₹65.80, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (8.51 %), book value (₹27.0), dividend yield (0.91 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Tourism Finance Corporation of India Ltd?

Tourism Finance Corporation of India Ltd is trading at ₹65.80 as of 14 April 2026, with a FY2026-2027 high of ₹80.5 and low of ₹32.6. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,044 Cr..

How does Tourism Finance Corporation of India Ltd's P/E ratio compare to its industry?

Tourism Finance Corporation of India Ltd has a P/E ratio of 25.0, which is above the industry average of 19.35. The premium over industry average may reflect growth expectations or speculative interest.

Is Tourism Finance Corporation of India Ltd financially healthy?

Key indicators for Tourism Finance Corporation of India Ltd: ROCE of 10.7 % is moderate. Dividend yield is 0.91 %.

Is Tourism Finance Corporation of India Ltd profitable and how is the profit trend?

Tourism Finance Corporation of India Ltd reported a net profit of ₹104 Cr in Mar 2025 on revenue of ₹252 Cr. Compared to ₹85 Cr in Mar 2022, the net profit shows an improving trend.

Does Tourism Finance Corporation of India Ltd pay dividends?

Tourism Finance Corporation of India Ltd has a dividend yield of 0.91 % at the current price of ₹65.80. 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 Tourism Finance Corporation of 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
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