Thomas Cook (India) Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Thomas Cook (India) reported Q2 FY26 group revenue up 3% YoY to ₹2,073.8 Cr, with H1 up 9% to ₹4,481.8 Cr, navigating geopolitical and weather challenges. Forex segment grew marginally, maintaining 49% EBIT margin, with innovations like Blinkit partnership and TCPay app driving retail traction. Travel revenue increased 6% but EBIT declined 16% due to higher marketing costs and business mix. Sterling Holidays marked its 23rd profitable quarter, expanding its resort portfolio and forecasting a strong H2. The Digital Imaging business is undergoing a tech transition, impacting near-term profitability. Management anticipates overall H2 improvement from consumption revival and strategic growth.