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B2B travel distribution platform connecting travel agents worldwide with hotel, air and other travel inventory.
B2B travel distribution platform connecting travel agents worldwide with hotel, air and other travel inventory.
Earns a commission or markup on each booking that travel agents make through its platform, so revenue follows the value of hotel and flight bookings, not the number of agents. It listed in 2024.
In one line: India's Sabre/Expedia-TAAP-like B2B travel distributor.
Moat: narrow (network effects, scale). Aggregated global travel-agent and supplier network creates switching costs and scale advantages.
Headquarters: Gurugram, India · Founded: 2006 · Employees: 1,543
Size TBO Tek (TBOTEK.NS) is an India Information Technology company (Internet Software/Services) with a market value of $1.80B, the 396th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,565 on 6 Nov 2026.
Performance Over six months the shares gained 23.7%, against -5.9% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 74.1% over the last twelve months (peer median +5.1%); the operating margin is 10.9% (peer median 8.9%).
Valuation It trades at 41.6× forward earnings against a peer median of 16.3× (6th most expensive of 16).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹33.9B | ₹26.8B | ₹17.4B | ₹13.9B | ₹10.6B |
| Revenue growth | — | +54% | +25% | +31% | — |
| Gross profit | ₹12.6B | ₹7.62B | ₹5.78B | ₹4.77B | ₹3.82B |
| EBITDA | ₹4.93B | ₹4.21B | ₹3.50B | ₹2.69B | ₹1.99B |
| Net income | ₹2.73B | ₹2.44B | ₹2.30B | ₹2.02B | ₹1.44B |
| Free cash flow | n/a | -₹332M | ₹3.06B | ₹2.27B | ₹2.37B |
| Capital expenditure | n/a | ₹668M | ₹532M | ₹387M | ₹70.2M |
| Total debt | ₹6.71B | ₹7.56B | ₹2.14B | ₹2.10B | ₹706M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TBO Tek TBOTEK.NS | $1.80B | +24% | +74% | 11% | 41.6× | n/a |
| MakeMyTrip MMYT | $4.81B | +7% | +5% | 15% | 41.2× | 18.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TBOTEK.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | +1.2% | 3rd lowest of 21 |
| 6-month return | +23.7% | -5.9% | 6th highest of 21 |
| Distance from 52-week high | -11.7% | -26.3% | 6th highest of 21 |
| Revenue growth (TTM) | +74.1% | +5.1% | highest of 21 |
| Operating margin | 10.9% | 8.9% | 10th highest of 21 |
| Forward P/E | 41.6× | 16.3× | 6th most expensive of 16 |
| EV / EBITDA | 31.8× | 8.5× | 3rd most expensive of 12 |
| Net debt / EBITDA | -2.6× | -0.9× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TBO Tek TBOTEK.NS | India | $1.80B | +24% | +74% | 11% | 41.6× | n/a | n/a |
| XinhuaNet 603888.SS | China | $1.89B | -7% | -1% | 8% | n/a | 22.6% | +9.3% |
| Ziff Davis ZD | United States | $1.70B | +21% | -8% | 10% | 8.9× | -10.6% | +4.6% |
| Weibo 9898.HK | Hong Kong | $1.58B | -24% | +2% | 25% | 5.2× | n/a | n/a |
| Mony MONY.L | United Kingdom | $1.42B | +21% | +2% | 26% | 11.1× | -0.7% | +5.3% |
| Winning Health Technology 300253.SZ | China | $2.31B | -19% | +6% | -20% | 351.5× | 18.9% | -1.4% |
| CarTrade Tech CARTRADE.NS | India | $1.39B | +40% | +16% | 30% | 47.7× | 34.5% | +25.6% |
| Trustpilot TRST.L | United Kingdom | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% | +20.0% |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| WEBTOON Entertainment WBTN | United States | $1.31B | -27% | 0% | -3% | n/a | n/a | n/a |
| Shanghai Great Wisdom 601519.SS | China | $2.49B | -18% | +6% | -8% | n/a | n/a | n/a |
| Youdao, Inc. Sponsored ADR DAO | United States | $2.50B | +59% | +10% | 4% | 59.4× | 33.6% | +17.6% |
| Aditya Birla Sun Life Amc ABSLAMC.NS | India | $2.68B | -19% | +4% | 60% | 23.9× | n/a | n/a |
| People.cn 603000.SS | China | $2.69B | -15% | 0% | 12% | 77.2× | 28.6% | -0.4% |
| Huawen Media 000793.SZ | China | $1.19B | -34% | 0% | -14% | n/a | 17.8% | -34.6% |
| Baltic Classifieds BCG.L | United Kingdom | $1.14B | -99% | +7% | 68% | 0.2× | 15.2% | +15.9% |
| Moonpig MOON.L | United Kingdom | $1.13B | +41% | +7% | 21% | 15.2× | 3.7% | +0.3% |
| Yelp YELP | United States | $1.06B | -28% | +2% | 13% | 8.1× | -18.4% | +10.9% |
| People PPLI | United States | $3.16B | -4% | -29% | 2% | 38.9× | 36.5% | -2.8% |
| EverQuote EVER | United States | $1.02B | +41% | +24% | 11% | 14.3× | -7.0% | +14.8% |
| D-MARKET Elektronik Hizmetler ve Ticaret AS Sponsored ADR HEPS | United States | $979M | -3% | +22% | -3% | n/a | n/a | n/a |