Find enclosed 10 year financial snap shot from FY19 AR of IRCTC.
The last 10 years AR are avaialble on web site in case anyone is interested in studing the past financials.
https://irctc.com/annual-report.html
A quick glance as number suggest that as against typical PSU, IRCTC has been quite efficient. Look at empolyee strength declined by more than 35% during last 10 years, while Total income increased by 12% CAGR over the decade. During same period, net profit CAGR is around 19% p.a. and Dividend payment CAGR is around 29% p.a…
This may be also due to many employee being deputed by railways and we need to understand exact relationship between Railway and ITCTC for manpower.
Ticket booking details:
Total E Ticket revenuew:
In AR FY19, there is comment about IT system of company in page 93 which is bad for a company claiming to have ticket booking. This is my view and may be wrong, but consider this observation as real issue.
This may be also due to many employee being deputed by railways and we need to understand exact relationship between Railway and ITCTC for manpower.
Discl: I got allotment in the IPO and my view may be biased. Investor shall do his/her own due diligence before making any investment decision.