Thomas Cook India reports 3% growth in total income for FY 2026 to Rs 85,578 Mn

Yash Agarwal — Wed, 13 May 2026 05:28:01 +0000

Thomas Cook India has reported a 3% increase in its total income for the fiscal year 2026, reaching ₹85,578 million, despite facing significant geopolitical challenges. The company’s performance was impacted by events such as the Pahalgam attack and Operation Sindoor in April 2025, as well as the Israel-US-Iran conflict in February 2026, which affected travel sentiment and operations.

For the fourth quarter of FY 2026, Thomas Cook India‘s total income stood at ₹18,055 million, marking an 11% decline due to geopolitical disruptions. The consolidated profit before tax (PBT) before exceptional items for FY 2026 was ₹3,328 million, compared to ₹3,852 million in the previous fiscal year. In Q4 FY 2026, the consolidated PBT was ₹477 million, down from ₹916 million in Q4 FY 2025.

Despite these challenges, Thomas Cook’s standalone PBT for FY 2026 grew by 2% to ₹1,690 million. The company’s India-based businesses performed well, with earnings before tax (EBT) growing by 16% in Q4 FY 2026. Financial services saw a 16% year-on-year increase in retail turnover for FY 2026 and a 27% increase for Q4 FY 2026. The travel services segment also reported growth, with income from operations for India businesses rising by 4% in FY 2026.

In the leisure hospitality sector, income from operations grew by 7% in FY 2026 and 19% year-on-year in Q4 FY 2026. However, overseas subsidiaries faced challenges, with income from operations growing by 3% year-on-year for FY 2026 but declining by 24% in Q4 FY 2026 due to regional conflicts.

The company declared a 50% dividend on its equity shares, translating to a 20% dividend payout ratio on the standalone PAT, up from 45% in FY 2025. CRISIL reaffirmed Thomas Cook India Group’s credit ratings at CRISIL AA/Stable/CRISIL A1+, the highest for a travel and tourism company in India.

Commenting on the results, Mahesh Iyer, Managing Director and CEO of Thomas Cook India, acknowledged the challenges faced during the fiscal year but expressed cautious optimism for the future, emphasising the importance of fiscal management and technology to drive sustainable growth.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Yash Agarwal and reviewed by Aditya Bhagchandani before publication.

Thomas Cook announces demerger of resorts business into Sterling Holiday Resorts

Kinjal — Fri, 20 Mar 2026 16:27:48 +0000

Thomas Cook (India) Limited has announced a strategic demerger of its Resorts and Resort Management business into Sterling Holiday Resorts Limited. The move, approved in principle by the company’s Board, aims to unlock value for shareholders and streamline Thomas Cook‘s capital structure. The demerger, subject to regulatory approvals, will allow Thomas Cook to focus on its core travel services while enabling Sterling Holiday Resorts to pursue growth in the hospitality sector.

The demerger will see Thomas Cook shareholders receiving shares in Sterling Holiday Resorts, with a share entitlement ratio of 0.81 shares of Sterling for every share of Thomas Cook. Post-demerger, the shareholding pattern of both companies will remain similar, and Sterling Holiday Resorts will be listed on the BSE and NSE.

Additionally, Thomas Cook plans to consolidate its shares, merging four shares of face value ₹1 each into one share of face value ₹4. The company will also reduce the face value of its shares from ₹4 to ₹3 and merge three dormant subsidiaries to cut administrative costs.

Managing Director & CEO of Thomas Cook India, Mahesh Iyer, expressed optimism about the demerger, stating that it would unlock significant value and improve earnings per share for Thomas Cook shareholders. He also highlighted the potential for Sterling Holiday Resorts to expand in India’s hospitality market.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Kinjal and reviewed by Aman Shukla before publication.

Mahesh Iyer | Business Upturn

Thomas Cook India reports 3% growth in total income for FY 2026 to Rs 85,578 Mn

Thomas Cook announces demerger of resorts business into Sterling Holiday Resorts