At a Glance
International Travel House Ltd, a ₹416 Cr microcap, is the oldest listed travel company in India. While the world is chasing AI unicorns, ITH is calmly selling corporate cab rides and airline tickets. With zero debt, 24% ROCE, and a 5Y profit CAGR of 40%, this ITC group company is quietly compounding. But is the ₹520 price justified, or are we just nostalgic for Yatra.com?
1. 🎯 Introduction with Hook
If IRCTC is the cool government monopoly everyone’s simping for, International Travel House is the forgotten cousin who quietly handles airport pickups, international hotel bookings, and corporate offsites — and actually turns a profit.
Yes, it doesn’t have a mobile app with emojis.
No, it hasn’t claimed to “revolutionize travel with blockchain.”
But since COVID, it went from -₹45 Cr net loss in FY21 to ₹27 Cr PAT in FY25. 📈
And here’s the kicker: zero debt.
Let that sink in.
2. 🧳 Business Model – WTF Do They Even Do?
ITH is a full-stack travel services company, mostly B2B.
Main Segments:
- 🎫 Air Ticketing (Domestic + International) via IATA-BSP system
- 🚕 Car Rental & Chauffeur Services for corporates
- 🏨 Hotel Bookings & MICE (Meetings, Incentives, Conferences, Events)
- 🛂 Visa Assistance & Passport Services
- 📦 Inbound Travel & Logistics (Especially for corporate guests)
No package tours for aunties.
No romantic getaways to Manali.
Only serious business travel. Mostly ITC employees, MNCs, and government contracts.
3. 📈 Financials Overview – Profit, Margins, ROE, Growth
ITH is literally
