Jalandhar-based TSC India Limited reported its audited financial results for the financial year ended March 31, 2026, revealing a divergence between volume growth and profitability. The company, an integrated ticketing and B2B travel services provider, saw its Gross Transaction Value (GTV) surge by 31.95% to ₹1,06,336 crore, while revenue from operations increased by 10.58% to ₹2,851.00 crore. However, Profit After Tax (PAT) declined by 5.18% to ₹438.08 crore, and EBITDA margins contracted to 23.45% from 29.95% in the previous year, impacted by geopolitical turbulence and operational costs.

FY26 Financial Performance

The full-year financial statements, audited by Rishab Aggarwal & Associates, Chartered Accountants, reflect the pressure on margins despite top-line growth. The Board of Directors approved the results at a meeting held on May 30, 2026. The following table summarises the key consolidated financial metrics:

Operational Highlights and Strategic Outlook

Mr. Ashish Kumar Mittal, Managing Director, attributed the margin compression to exogenous factors, specifically the geopolitical disruption in the Middle East, which disrupted aviation routes and increased fuel cost volatility. He emphasised that the company's business model remains robust, noting that TSC India has historically navigated crises such as SARS, the 2008 financial collapse, and the COVID-19 pandemic to emerge stronger.

Looking ahead to FY2027, the management outlined strategic priorities including deepening airline partnerships, expanding the agent distribution network into Tier 2 and Tier 3 geographies, and investing in booking technology. The company also intends to maintain balance-sheet strength to pursue consolidation opportunities as the market normalises.

Corporate Developments

During the year, TSC India completed the acquisition of 100% of the equity share capital of GITHM Private Limited, a travel services company, on March 11, 2026. The consideration was discharged entirely through the issue of equity shares, making GITHM a wholly-owned subsidiary. Additionally, the company utilised the full proceeds of its Initial Public Offering (IPO) amounting to ₹2,588.60 lakh for working capital, general corporate purposes, and issue-related expenses.

ASML shares surged to a new all-time high, pushing the Dutch chipmaking equipment manufacturer's market capitalisation past the $500 billion milestone and cementing its position as Europe's most valuable company. The remarkable surge was fuelled by Taiwan Semiconductor Manufacturing Corp's (TSMC) blockbuster quarterly results, which sparked a broad rally across European semiconductor stocks.

Record-Breaking Market Performance

ASML's shares demonstrated exceptional performance during the trading session, with key metrics highlighting the company's market strength:

The surge occurred as of 0858 GMT, with the company's market value calculated at the prevailing exchange rate of $1 = 0.8595 euros.

TSMC Results Drive Semiconductor Rally

The catalyst for ASML's remarkable performance came from TSMC's exceptional quarterly results, which demonstrated the continued strength of the semiconductor industry. TSMC, the world's largest computer chip maker, reported a 35% surge in net profit for the October-December quarter, reaching 506 billion New Taiwan dollars.

TSMC's strong results, driven by artificial intelligence boom and robust demand for advanced semiconductor manufacturing, created positive sentiment across the entire semiconductor ecosystem.

European Semiconductor Sector Momentum

The positive impact extended beyond ASML, creating a broad rally across European semiconductor stocks. This sector-wide momentum reflects investor confidence in the semiconductor industry's growth prospects, particularly in advanced manufacturing equipment and AI-related chip production.

ASML's position as a critical supplier of advanced lithography equipment to major chipmakers like TSMC makes it a key beneficiary of the ongoing semiconductor expansion. The company's technology is essential for producing the most advanced chips, positioning it strategically within the AI-driven semiconductor boom.

Market Leadership and Future Positioning

With its market capitalisation now exceeding $500 billion, ASML has solidified its status as Europe's most valuable company. The achievement underscores the strategic importance of semiconductor equipment manufacturing in the global technology ecosystem and reflects strong investor confidence in the company's long-term growth prospects amid continued AI advancement and semiconductor industry expansion.