TBO Tek Limited — PPTs, 22-05-2025: Investor Presentation

1. Financial Highlights:

TBO Tek delivered solid growth with revenue reaching INR 1,737 Cr (+25% YoY), gross profit at INR 1,193 Cr (+29% YoY), and adjusted EBITDA of INR 329 Cr (+22% YoY). Adjusted EBITDA margin slightly dipped to 18.9% from 19.4%. Gross transaction value rose 16% to INR 30,832 Cr, supported by a 7% increase in monthly transacting buyers surpassing 28,000. The balance sheet remains healthy with cash and equivalents of INR 962 Cr.

2. Strategic Initiatives & Growth Drivers:

The company aggressively expanded internationally, adding 15+ countries and 5 new entities in FY25. Sales headcount is scaling fast with ~60 Key Account Managers currently and plans for ~100 more by Q2 FY26. The hotel segment continues as the main growth driver, contributing 59% of GTV and 84% of gross profit. Key investments include AI-powered tech upgrades and the launch of the Platinum luxury hotel segment targeting premium customers.

3. Business Developments:

Early integration of Jumbonline boosted scale and execution. The Platinum segment is gaining strong traction in luxury hotels. Regional expansion is prioritized with enhanced presence in Europe, North America (new US leadership), MEA, and APAC supported by localized services and payment options. Efforts to develop “Connected Trips” and expand ancillary offerings are underway.

4. Market Position & Competitive Advantage:

TBO ranks among the top 4 global B2B travel platforms, sustaining a 20%+ 3-year CAGR across markets. It holds leadership in hotels and ancillaries, backed by a large, diversified base of 189,000+ registered agents. Global reach with multi-language and multi-currency support, along with growth in the luxury segment, enhances its competitive moat.

5. Investor Implications:

TBO exhibits strong growth potential driven by international scale-up, technology adoption, and luxury travel expansion. Margin expansion is under mild pressure, but a robust balance sheet and scalable business model support long-term growth. Execution risk exists around rapid hiring and integration, yet the premium segment growth and global footprint underscore attractive value creation opportunities.