TBO Tek Limited , a prominent player in the travel technology sector, has received overwhelming shareholder approval for a significant corporate action. The company announced that its shareholders have passed a special resolution through a postal ballot, granting the company the authority to create and enforce security on disposal of more than 20% of assets of material subsidiaries and potentially reduce shareholding in material subsidiaries to 50% or below.

Voting Details

The remote e-voting process, which concluded on November 8, 2025, saw an impressive 99.91% of votes cast in favor of the resolution. This strong support from shareholders indicates their confidence in the company's strategic decisions and future plans.

Key Information

Implications of the Resolution

The approval of this resolution provides TBO Tek with increased flexibility in managing its assets and subsidiaries. This could potentially allow the company to:

1. Optimize its asset portfolio
2. Restructure its subsidiary holdings
3. Explore strategic partnerships or divestments

Corporate Governance

In line with regulatory requirements, TBO Tek has ensured transparency in the voting process. The company has made the voting results and the scrutinizer's report available on its website ( www.tbo.com ) and on the National Securities Depository Limited (NSDL) website.

Management Statement

Neera Chandak, Company Secretary of TBO Tek Limited, confirmed the successful passage of the resolution, stating, "We are pleased to inform you that the resolution set out in the Notice has been duly approved by the Members of the Company with the requisite majority."

This development marks a significant step for TBO Tek, potentially paving the way for strategic moves that could shape the company's future operations and market position. Investors and market watchers will likely keep a close eye on how the company utilizes this newly granted authority in the coming months.

TBO Tek Limited , a leading global travel distribution platform, has reported robust growth for the second quarter of fiscal year 2026, with significant improvements across key financial metrics. The company also announced the completion of its acquisition of Classic Vacations, marking a strategic expansion in the luxury travel segment.

Financial Highlights

TBO Tek demonstrated strong performance in Q2 FY26:

The company's adjusted EBITDA reached Rs. 104.00 crores, showcasing a 16% year-over-year growth. This growth was primarily driven by a nearly 20% increase in the hotels business, which continues to be a key focus area for TBO Tek.

Hotels Business Performance

The hotels segment remained a strong contributor to TBO Tek's growth:

• Nearly 20% growth in GTV
• Maintained gross margins in the mid-60s range
• Approximately 35% of GTV coming from commission-based models

International Market Expansion

TBO Tek reported strong performance in international markets:

• Active agent growth across regions, particularly in Europe and Middle East
• APAC markets showed growth of over 40%, albeit from a smaller base
• Expansion into new markets, with Australia showing promising traction

Classic Vacations Acquisition

The company completed the acquisition of Classic Vacations on October 1st, 2025, which is expected to enhance TBO Tek's presence in the luxury travel market:

• Classic Vacations operates at a 22% take rate and 11% gross profit margin
• Contributes approximately $500.00 million in GTV to TBO's total base of $3.50 billion
• Consolidation of Classic Vacations' financials will begin from Q3 FY26

Operational Improvements

TBO Tek highlighted several operational improvements:

• Expects operating leverage to improve as SG&A growth slows down year-over-year
• India business showed signs of stabilization after previous challenges
• Increased contribution from newly added travel agents, growing from 4.3% to 6.9% of GTV in the first six months of the fiscal year

Future Outlook

While the company did not provide specific guidance, management expressed confidence in continued growth:

• Focus on expanding the supply of luxury and ultra-luxury hotels through the Classic Vacations integration
• Continued investment in technology and AI to improve conversion rates and pricing optimization
• Emphasis on developing complex itineraries and package solutions to enhance the platform's comprehensiveness

TBO Tek's Q2 performance and strategic acquisition position the company well for continued growth in the global travel distribution market. The focus on expanding its hotel business, international market presence, and technological capabilities suggests a promising outlook for the company in the coming quarters.