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IDBI Capital Report
We hosted Indian Railway Catering and Tourism Corporation Ltd. call with investors. The highlight of the investor call was that the company expects revenue growth to be robust for FY23 mainly led by improved demand in the catering and tourism business segments.
Margins are expected to observe some softening as the share of catering and tourism business revenues increase.
Going forward, IRCTC expects catering segment to grow in double digits led by strong e catering business. Further, tourism is also expected to improve led by increase in travelling.
We believe the company’s focus on e-catering initiatives and increasing revenues from advertisement and license fees bodes well for long term profitability.
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