IRCTC has announced the appointment of Navin Kumar Parsuramka as Part-Time Government Director, following an official order from the Ministry of Railways. The appointment, effective immediately, represents a significant change in the company's board composition and governance structure.

Official Appointment Details

The Ministry of Railways issued Order No. 2022/PL/57/10 on February 25, 2026, formally conveying the appointment. The key details of this board-level change are presented below:

Regulatory Compliance Framework

The appointment has been made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. IRCTC has informed both major stock exchanges about this board-level change, ensuring full transparency and regulatory compliance.

The company is currently completing necessary appointment formalities as required under the Companies Act 2013 and SEBI (LODR) Regulations, 2015. Additional disclosures related to the appointment will be submitted to regulatory authorities in due course.

Board Composition Impact

Parsuramka's appointment as Part-Time Government Director brings his extensive experience from the Railway Board to IRCTC's governance framework. His current role as Principal Executive Director (Coaching) at Railway Board provides relevant operational expertise that will benefit the company's strategic oversight.

The seamless transition from Gangeya to Parsuramka demonstrates IRCTC's commitment to maintaining stable leadership and ensuring continuity in its governance structure. This change reflects the ongoing evolution of the company's board composition while maintaining strong government representation in its decision-making processes.

IRCTC has delivered impressive financial performance for the quarter ended December 31, 2025, demonstrating strong growth across key business segments and maintaining its position as a leading player in railway catering and tourism services.

Financial Performance Overview

The company's standalone financial results for Q3 FY26 showcase robust operational performance with significant year-on-year improvements across major financial metrics.

For the nine-month period ended December 31, 2025, IRCTC maintained consistent growth momentum with revenue from operations reaching ₹375,514.36 lakhs compared to ₹340,624.11 lakhs in the corresponding period of the previous year, representing a 10.2% increase.

Management Commentary on Business Performance

During the Q3FY26 earnings conference call held on February 13, 2026, Chairman and Managing Director Sanjay Kumar Jain highlighted that the quarter stood out as extremely encouraging with the highest ever revenue and profitability in the company's history. The management emphasized the strength of their operating model and sustained momentum across core business verticals.

Segment-wise Performance Analysis

IRCTC's diversified business portfolio delivered strong results across all major segments during Q3 FY26.

The Internet Ticketing segment continues to be the most profitable division, generating segment profit of ₹34,116.13 lakhs in Q3 FY26. Management revealed that convenience revenue stood at ₹251 crores while non-convenience revenue reached ₹150 crores during the quarter.

Catering Business Expansion and Future Outlook

The catering segment's impressive 19.2% growth was driven by the introduction of 40 additional trains during the period, including 19 Vande Bharat trains. Management highlighted that Vande Bharat billing increased by ₹70 crores during the quarter. Looking ahead, the railway ministry's announcement to introduce 260 Vande Bharat train sets presents significant growth opportunities for IRCTC's catering business.

Dividend Declaration and Corporate Actions

The Board of Directors approved several key decisions during their meeting held on February 12, 2026:

This dividend declaration demonstrates the company's commitment to rewarding shareholders while maintaining strong cash flows for business operations and growth initiatives.

Strategic Initiatives and Future Growth Plans

Management outlined several strategic initiatives during the earnings call. The company is enhancing capacity at existing Rail Neer plants in Danapur and Ambernath, doubling their capacity. Additionally, the Board has sanctioned installation of 4 new plants at Mysore, Prayagraj, Bhagalpur and Ranchi, which will add 25% to 30% capacity within 1.5 years.

The company is also developing a unified portal to leverage its vast customer database for cross-selling travel-related services. With 1,600,000 daily ticket bookings compared to only 10,000 other transactions daily, management sees significant potential for value-added services expansion.

Regulatory Compliance and Legal Developments

The company achieved a significant legal victory when the Hon'ble Supreme Court ruled in IRCTC's favor on November 7, 2025, regarding an arbitration matter involving ₹7,471.65 lakhs. This judgment has eliminated potential financial liability and provides operational clarity for the company.

During the nine-month period, IRCTC recorded exceptional income of ₹1,670.58 lakhs, which included ₹580.49 lakhs from reduction in charges for Tejas Express trains and ₹1,090.09 lakhs from excess provisions written back for previous years.

With strong financial performance, diversified revenue streams, and management's confidence in achieving 15% sustainable growth, IRCTC is well-positioned to capitalize on the growing demand for railway services and tourism in India.