TBO Tek Limited, incorporated in 2006, operates multiple online technology platforms and provides access to book global travel inventory aggregated through travel suppliers like airlines, hotels, and other services. The company is part of the TBO group and operates the online platform Travelboutiqueonline.com (TBO), offering services in the B2B segment. TBO Tek is an International Air Transport Association (IATA) registered ticketing agency, establishing its credibility in the aviation industry.
TBO Tek positions itself as one of the leading global travel distribution platforms, connecting over 159,000 travel buyers across more than 100 countries with millions of travel suppliers globally. The company operates through Air Ticketing, Hotels and Packages, and Others segments, with its platform acting as a bridge between travel suppliers such as airlines, hotels, car rental providers, and sightseeing providers, and travel buyers such as travel agencies, OTAs, and tour operators.
TBO Tek operates as a leading B2B platform that empowers travel agents, tour operators, and online travel agencies with streamlined access to an expansive network of hotels, flights, car rentals, cruises, and more. Through its asset-light business model and data-driven approach, the company creates value by helping suppliers showcase their inventory and enabling buyers to easily book travel across leisure, corporate, and religious travel segments.
The company's product portfolio includes air, hotels, rail, holiday packages, car rentals, transfers, sightseeing, cruise, marine, insurance, and cargo services. TBO serves as an online booking travel portal for travel agents, providing end-to-end solutions for B2B travel, hotel bookings, air ticketing, APIs, and white label solutions.
TBO Tek Limited has a market capitalization of ₹12,807 crore as of the last available data. The stock has seen significant volatility with a 52-week high of ₹2,000-2,001 and a 52-week low of ₹985.70-996. The stock has experienced a negative return of 21.20% over the past one year.
FY25 Financial Highlights:
- Revenue from operations reached ₹1,737 crore, marking a 25% year-on-year growth
- Adjusted EBITDA climbed 22% to ₹329 crore
- Total Gross Transaction Value (GTV) crossed ₹30,832 crore, reflecting 16% growth over FY24
- Profit After Tax (PAT) of ₹230 crore versus ₹201 crore in the previous year, showing 15% YoY growth
Q4 FY25 Performance:
- Revenue from operations of ₹446 crore versus ₹369 crore in Q4 FY24, showing 21% YoY growth
- Adjusted EBITDA of ₹79 crore versus ₹69 crore, up 15% YoY
- PAT of ₹59 crore versus ₹46 crore in Q4 FY24, up 27% YoY
A highlight of TBO's FY25 performance was the rapid scaling of its Hotels & Ancillaries vertical, which has become an increasingly important revenue driver. The company demonstrated robust financial performance, highlighted by a 28% revenue increase driven by its higher-margin hotels segment, which now constitutes 59% of Gross Transaction Value.
The company expanded its global footprint significantly, adding 15 new countries to its operational footprint in FY25 and now serves buyers and suppliers across more than 150 countries. In line with its global expansion strategy, TBO Tek bolstered its sales presence with 73 new hires across 32 countries, further strengthening its global footprint.
International Growth:
- TBO Tek achieved 43% year-on-year growth in international markets, primarily driven by exceptional performance in Europe (+70%) and the Asia-Pacific region (+66%)
- The Middle East and Americas also posted strong double-digit growth
The company's technology and AI initiatives complement the rapid footprint expansion by helping drive better user experience and improving platform performance. TBO Tek upgraded its hotel booking platform, H-Next, across India and internationally, with positive customer response and increased conversion rates.
The company continues progress on automation of back-end processes using AI-driven automatic handling of supplier notifications being scaled up, demonstrating its commitment to technological advancement and operational efficiency.
TBO Tek maintains a strong balance sheet with over ₹1,450 crore in cash and cash equivalents (including fixed deposits and liquid funds), providing a solid foundation for both organic expansion and inorganic growth opportunities, including potential acquisitions and new technology deployments.
The company's stock went public in May 2024, with shares entering the bourses on May 15, 2024, listed at ₹1,380, representing a 50% premium to the issue price of ₹920. The IPO was subscribed 86.70 times, indicating strong investor interest.
TBO Tek Limited stands well-positioned to capitalize on the growing global travel market, with its technology-driven platform, expanding international presence, and strong financial foundation supporting continued growth in the travel distribution sector.
