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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹191 Cr.
Stock P/E
50.2
P/B
-21.5
Current Price
₹635.9
Book Value
₹ -29.6
Face Value
10
52W High
₹846.5
52W Low
₹ 47
Dividend Yield
0%

Trade-Wings Overview

Here's a structured overview of Trade-Wings Ltd. based on general industry knowledge, given the limited specific company details:

Trade-Wings Ltd.

1. Business Overview

Trade-Wings Ltd. operates in the Travel Services industry in India. Its core business involves providing a range of travel-related services to individuals and corporate clients. This typically includes airline ticketing (domestic and international), hotel reservations, holiday tour packages (inbound and outbound), visa and passport assistance, foreign exchange services, travel insurance, and corporate travel management. The company's business model is primarily service-oriented, generating revenue through commissions from airlines, hotels, and other travel suppliers, as well as service fees and markups on customized tour packages.

2. Key Segments / Revenue Mix

Specific revenue breakdown for Trade-Wings Ltd. is not publicly available. However, for a general travel services company, common segments typically include:

Leisure Travel: Sales of holiday packages, individual flight and hotel bookings for personal travel.

Corporate Travel: Managing travel needs for businesses, including flights, hotels, ground transportation, and MICE (Meetings, Incentives, Conferences, Exhibitions) services.

Ancillary Services: Visa processing, travel insurance, foreign exchange.

Without specific data, it is not possible to detail their contribution to the overall revenue mix.

3. Industry & Positioning

The Indian travel services industry is highly competitive and fragmented, characterized by the presence of large Online Travel Agencies (OTAs), traditional brick-and-mortar travel agents, specialized tour operators, and direct bookings with airlines/hotels. The industry has seen significant disruption from digitalization, with OTAs gaining substantial market share. Trade-Wings Ltd., as a traditional player, likely operates amidst this competition, potentially serving a niche of customers who prefer personalized service, complex itineraries, or corporate clients requiring managed travel solutions, or perhaps maintaining a regional presence. Its positioning relative to major national players or large OTAs would likely be that of a smaller, more personalized service provider.

4. Competitive Advantage (Moat)

Given its long-standing presence (implied by "Trade-Wings"), potential competitive advantages could include:

Brand Reputation & Trust: A history of reliable service can build trust with a loyal customer base, particularly in a service-oriented industry.

Customer Relationships: Strong, long-term relationships with corporate clients or high-net-worth individuals who value personalized service and dedicated account management.

Supplier Network: Established relationships with airlines, hotels, and ground operators, potentially enabling access to favorable rates or inventory for customized packages.

Specialized Expertise: Niche expertise in specific travel segments (e.g., luxury travel, specific international destinations, MICE, pilgrimage tours) that OTAs may not fully cater to.

However, these advantages can be challenged by the scale and technological prowess of large OTAs.

5. Growth Drivers

Key factors that could drive growth for Trade-Wings Ltd. over the next 3-5 years include:

Rising Disposable Incomes: Increasing affluence among the Indian middle and upper classes leads to higher discretionary spending on travel.

Growing Tourism: Both domestic and international tourism are expected to grow, supported by government initiatives and improved infrastructure.

Corporate Travel Recovery: A rebound in business travel and MICE activities post-pandemic.

Digitization & Hybrid Models: Successful adaptation to digital platforms and integration of online booking capabilities while retaining personalized service.

Niche Market Focus: Specializing in premium, experiential, or specific destination-based travel segments less prone to commoditization.

6. Risks

Economic Downturns: Travel is discretionary, making the company vulnerable to economic slowdowns or recessions affecting consumer and corporate spending.

Intense Competition: Fierce competition from well-funded OTAs with aggressive pricing and extensive online reach, as well as direct bookings.

Technological Disruption: Failure to innovate or adapt to new technologies (e.g., AI-driven personalization, real-time dynamic packaging) could lead to loss of market share.

Geopolitical Events & Pandemics: Global or regional instability, health crises (like COVID-19), or natural disasters can severely impact travel demand.

Airline/Hotel Failures: Reliance on third-party suppliers means their operational or financial distress can impact Trade-Wings' service delivery and reputation.

Regulatory Changes: Changes in visa policies, aviation regulations, or taxation could affect operations and profitability.

7. Management & Ownership

Specific information regarding the current promoters, detailed management quality, and precise ownership structure for Trade-Wings Ltd. is not publicly available or readily ascertainable from common sources. Without this data, an assessment of management quality or ownership concentration cannot be provided.

8. Outlook

Trade-Wings Ltd. operates in a dynamic Indian travel market offering significant growth potential due to increasing affluence and travel aspirations. The company's future hinges on its ability to navigate intense competition and technological disruption. A positive outlook would involve leveraging any existing brand equity and customer relationships, successfully integrating technology to offer seamless services, and potentially specializing in high-value or complex travel segments that are less susceptible to commoditization. Conversely, challenges include the ongoing threat from large, technologically advanced OTAs, sensitivity to economic fluctuations, and the inherent risks associated with global travel events. Its ability to adapt and differentiate will be critical for sustained relevance and growth.

Trade-Wings Share Price

Live · BSE · Inception: 1949
| |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Trade-Wings Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 62 62 66 52 68 63 68 59 67 68
Other Income 1 2 1 1 2 2 2 2 2 2
Total Income 63 64 67 54 69 66 70 61 69 70
Total Expenditure 60 61 67 54 65 61 68 61 66 67
Operating Profit 3 3 0 -1 4 5 1 -0 3 4
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 0 0 1 0 0 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 2 -1 -1 3 3 0 -2 1 2
Provision for Tax 0 0 0 0 0 -0 0 0 0 -1
Profit After Tax 2 1 -1 -1 3 3 0 -2 1 3
Adjustments 0 0 0 0 0 0 -0 0 0 -0
Profit After Adjustments 2 1 -1 -1 3 3 0 -2 1 3
Adjusted Earnings Per Share 7.4 4.8 -3.6 -4.4 9.4 11.3 0.5 -6.5 4.1 9.9

Trade-Wings Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 37 40 43 290 307 248 37 87 214 242 249 262
Other Income 2 2 3 6 7 5 2 3 4 5 6 8
Total Income 39 41 47 297 314 253 40 90 218 248 256 270
Total Expenditure 34 36 41 291 306 249 41 88 210 239 247 262
Operating Profit 5 5 5 6 8 4 -1 2 8 9 9 8
Interest 3 3 3 4 5 4 4 4 4 4 3 4
Depreciation 2 1 1 1 2 2 1 1 1 2 2 4
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -0 0 1 0 1 -2 -6 -3 3 4 4 1
Provision for Tax -0 0 0 0 0 0 1 0 -0 0 -0 -1
Profit After Tax -0 0 0 0 1 -2 -7 -3 3 3 4 2
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -0 0 0 0 1 -2 -7 -3 3 3 4 2
Adjusted Earnings Per Share -0.6 1.3 1.5 1.3 4.2 -5.6 -24.1 -10.5 11.1 10.4 12.7 8

Trade-Wings Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -9 -8 -8 -8 -7 -9 -16 -19 -17 -15 -11
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 6 7 6 6 9 9 11 19 20 14 17
Other Non-Current Liabilities 6 8 9 13 16 19 18 14 12 13 6
Total Current Liabilities 46 49 53 56 48 46 48 42 41 42 45
Total Liabilities 49 55 60 68 66 64 60 56 55 54 57
Fixed Assets 21 20 21 24 25 27 26 24 23 25 24
Other Non-Current Assets 1 1 1 4 4 5 2 1 3 3 1
Total Current Assets 27 34 39 39 37 32 33 30 29 25 32
Total Assets 49 55 60 68 66 64 60 56 55 54 57

Trade-Wings Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 3 2 4 3 2 3 4 3 5 0
Cash Flow from Operating Activities 6 3 7 3 4 5 3 3 5 4 0
Cash Flow from Investing Activities -4 -1 -2 -4 -2 -2 1 0 -0 -3 0
Cash Flow from Financing Activities -2 -3 -3 0 -3 -3 -3 -4 -4 -3 0
Net Cash Inflow / Outflow -0 -0 1 -1 -1 0 1 -0 1 -2 0
Closing Cash & Cash Equivalent 3 2 4 3 2 3 4 3 5 2 0

Trade-Wings Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.65 1.33 1.46 1.29 4.15 -5.65 -24.11 -10.5 11.11 10.37 12.68
CEPS(Rs) 7.21 6.25 6.16 6.07 9.53 -0.55 -19.32 -5.88 15.73 15.39 19.91
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -30.75 -29.42 -27.96 -26.78 -25.66 -32.39 -56.44 -66.37 -58.66 -50.2 -37.56
Core EBITDA Margin(%) 7.79 8.79 4.77 -0.27 0.1 -0.63 -8.39 -0.61 1.92 1.46 1.01
EBIT Margin(%) 7.11 8.88 9.04 1.47 1.95 0.92 -6.59 1 3.26 2.94 2.72
Pre Tax Margin(%) -0.63 1.11 1.33 0.17 0.48 -0.64 -17.11 -3.35 1.38 1.47 1.45
PAT Margin (%) -0.53 1 1.01 0.13 0.41 -0.68 -19.29 -3.62 1.56 1.28 1.53
Cash Profit Margin (%) 5.92 4.7 4.27 0.63 0.93 -0.07 -15.46 -2.03 2.21 1.9 2.39
ROA(%) -0.4 0.77 0.76 0.6 1.86 -2.6 -11.62 -5.42 6.01 5.73 6.85
ROE(%) 0 0 0 0 0 0 0 0 0 0 0
ROCE(%) 39.04 49.47 40.52 37.51 46.94 12.47 -15.41 15.46 141.76 120.5 76.21
Receivable days 180.32 171.78 188.76 30.44 28.7 33.16 172.31 72.02 34.7 29.63 29.35
Inventory Days 15.37 16.81 20.13 4.34 4.39 4.16 21.09 7.13 2.58 2.33 2.42
Payable days 2118.25 2243.88 2110.65 65.17 74.97 74.57 785.1 389.61 30.24 26.73 25.27
PER(x) 0 86.32 54.08 49.51 0 0 0 0 0 0 0
Price/Book(x) -3.69 -3.91 -2.83 -2.38 0 0 -0.89 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.26 1.25 0.89 0.12 0.07 0.14 0.98 0.25 0.11 0.08 0.09
EV/Core EBITDA(x) 9.3 9.92 7.27 6.35 2.82 8.81 -35.62 9.84 2.76 2.38 2.38
Net Sales Growth(%) 5.69 9.08 8.6 570.14 5.72 -19.19 -84.88 132.17 145.41 13.48 2.88
EBIT Growth(%) -14.82 36.35 10.49 8.96 40.55 -61.8 -207.87 135.17 702.73 2.39 -4.87
PAT Growth(%) -158.74 305.95 9.92 -12.08 222.34 -236.09 -326.78 56.44 205.79 -6.63 22.23
EPS Growth(%) -158.74 305.95 9.92 -12.07 222.34 -236.09 -326.78 56.44 205.79 -6.63 22.23
Debt/Equity(x) -1.59 -2.01 -2.24 -2.53 -2.72 -3.42 -1.51 -1.13 -1.41 -1.31 -2.16
Current Ratio(x) 0.6 0.7 0.73 0.71 0.77 0.7 0.69 0.72 0.71 0.61 0.71
Quick Ratio(x) 0.56 0.66 0.68 0.63 0.72 0.65 0.65 0.68 0.68 0.57 0.68
Interest Cover(x) 0.92 1.14 1.17 1.13 1.33 0.59 -0.63 0.23 1.73 2 2.14
Total Debt/Mcap(x) 0.43 0.51 0.79 1.06 0 0 1.7 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +3% +42% 0% +21%
Operating Profit CAGR 0% +65% +18% +6%
PAT CAGR +33%
Share Price CAGR +1225% +137% +65% +20%
ROE Average 0% 0% 0% 0%
ROCE Average +76% +113% +68% +51%

Trade-Wings Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 74.97 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 25.03 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.9774.9774.9774.9774.9774.9774.9774.9774.9774.97
FII 0000000000
DII 0000000000
Public 25.0325.0325.0325.0325.0325.0325.0325.0325.0325.03
Others 0000000000
Total 100100100100100100100100100100

Trade-Wings Peer Comparison

Travel Services Edit Columns

Trade-Wings Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Trade-Wings Pros & Cons

Pros

  • Stock is trading at -21.5 times its book value
  • Debtor days have improved from 26.73 to 25.27days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 0% over the last 3 years.
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