Indian Railway Catering and Tourism Corporation Limited reported a 6% year-on-year increase in consolidated net profit to ₹1,393.37 crore for the financial year ended March 31, 2026, driven by strong operational performance across its business segments. Total income for the year rose 12% to ₹5,475.16 crore, while revenue from operations increased to ₹5,214.86 crore from ₹4,674.77 crore in the previous year. The Board of Directors has recommended a final dividend of ₹0.50 per share, subject to shareholder approval, which aggregates with interim dividends to a total payout of ₹9.00 per share for FY26. Looking ahead, the company has outlined ambitious growth targets and strategic initiatives across its key business verticals.

Financial Performance

On a full-year consolidated basis, total income stood at ₹5,475.16 crore against ₹4,903.86 crore in FY25, with net profit rising to ₹1,393.37 crore from ₹1,314.66 crore. For the quarter ended March 31, 2026, the company reported a standalone net profit of ₹3.3B rupees, compared to ₹3.6B rupees in the same period last year, while quarterly revenue came in at ₹14.6B rupees versus ₹12.7B rupees in the corresponding quarter of the previous year. Q4 EBITDA improved to ₹4B rupees from ₹3.85B rupees year-on-year, though the EBITDA margin contracted to 27.33% from 30.35% in the same period last year.

The following table summarises the key annual financial metrics:

The quarterly performance highlights are as follows:

Segment Performance

Internet Ticketing remained the largest revenue driver, contributing ₹1,535.51 crore for the year, followed by Catering at ₹2,398.75 crore. Tourism and Rail Neer segments generated ₹890.08 crore and ₹407.51 crore respectively. The company's profit before tax for the year stood at ₹1,875.22 crore, compared to ₹1,757.31 crore in the previous year.

Strategic Targets and Growth Outlook

IRCTC has set a long-term target of achieving a 30% EBITDA margin, with segment-specific revenue growth goals of 15% in Catering, 20% in Tourism, and 10% in Internet Ticketing. The company plans to drive incremental revenue through increased non-convenience fees via a unified portal and its IPay platform. On the payments front, IRCTC expects to meet the August deadline for its Payment Aggregator license application after partnering with an eligible entity.

The company's capital allocation strategy is focused on enhancing e-ticketing infrastructure for improved safety and convenience. In addition, IRCTC is planning four new Rail Neer plants and the expansion of two existing plants to strengthen its packaged drinking water business. The company is also exploring opportunities in the hotel sector as part of its broader diversification strategy.

The following table outlines IRCTC's key strategic targets:

Dividend Declaration

The Board recommended a final dividend of ₹0.50 per equity share of face value ₹2 each for FY26. This is in addition to the first interim dividend of ₹5.00 per share and the second interim dividend of ₹3.50 per share paid during the year. The total dividend for the financial year aggregates to ₹9.00 per share.

Auditor's Report and Disclosures

Statutory auditors N. K. Bhargava & Co. issued an unmodified opinion on the audited standalone and consolidated financial results. The auditors highlighted several matters in their report, including an arbitration award of ₹7,471.65 lakh which was ultimately adjudicated in favour of IRCTC by the Supreme Court, resulting in no financial impact. Additionally, a notice from the National Anti-Profiteering Authority alleging profiteering of ₹5,041.44 lakh is currently pending before the Goods & Services Tax Appellate Tribunal. The auditors also noted trade receivables of ₹1,870.29 crore due from Railways and Government, with outstanding dues of more than three years amounting to ₹389.89 crore.

Indian Railway Catering and Tourism Corporation Limited was fined ₹5.31 lakh each by BSE and NSE for non-compliance with board composition requirements for the quarter ended March 31, 2026. The penalties were imposed due to a failure to appoint a woman director, a violation of Regulation 17(1) of the SEBI (LODR) Regulations, 2015. The company disclosed that the fines have no material impact on its financial or operational activities.

The notices from the exchanges, dated May 27, 2026, cited the lack of requisite board composition during the specified period. IRCTC clarified that as a Government Company, the authority to appoint directors, including independent directors, vests with the President of India through the Ministry of Railways. The company stated it is actively following up with the government to fill the vacancies, including the position of a woman independent director.

Details of the Penalty

The following table outlines the penalties levied by the stock exchanges:

The company noted that similar penalties have been received in the past, and requests for waivers were previously considered favorably by the exchanges. The disclosure was made by Suman Kalra, Company Secretary and Compliance Officer, on May 28, 2026.