IRCTC shares fall even after FY26 numbers surpass guidance on most parameters

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) are trading lower by 2% on Wednesday, May 27, after the railway-ticketing and catering major reported a mixed set of fourth-quarter results for FY26.The company surpassed its full-year management guidance on both revenue growth and EBITDA margin for FY26. IRCTC had guided for 9-10% revenue growth and an EBITDA margin of 33-35% for the fiscal, both of which were exceeded.

However, net profit for the March quarter declined 9% on a year-on-year basis due to the impact of exceptional gains recorded in the corresponding quarter last year.
The Q4FY25 base included exceptional items worth nearly ₹46 crore, including ₹39.88 crore related to the net impact of one-time reconciliation of legacy balances and ₹5.8 crore from write-back of excess expense provisions of previous years.Operationally, margins remained under pressure across the ticketing, catering, and tourism businesses during the quarter.

On the segmental front, IRCTC achieved its targeted 8% revenue growth in the ticketing business, while catering revenue growth came in ahead of guidance.

The tourism segment growth remained broadly in line with the company’s 15-20% target range. However, revenue growth in the Rail Neer business missed the company’s 7-8% guidance.

Shares of IRCTC ended marginally lower by 0.056% at ₹537.55 on Tuesday. The stock has declined 22% so far in 2026.