# Indian Railway Catering and Tourism Corporation (NSE: IRCTC) share analysis

Canonical: https://vestmind.in/stocks/irctc  
Source: VestCall by Vestmind, price as of 14 October 2026.

> Indian Railway Catering and Tourism Corporation (NSE: IRCTC) was trading at ₹472.45 on 14 October 2026. VestCall scores its business health 76/100 (healthy). On valuation, the price sits in the “Valuation Premium” zone (₹457.73 and above) — above the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.

## Valuation zones

| Zone | Price band | Meaning |
| --- | --- | --- |
| Deeply Discounted | ₹382.56 – ₹407.67 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹407.67 – ₹444.06 | Below the modelled fair-value range |
| Fairly Valued | ₹444.06 – ₹457.73 | Inside the modelled fair-value range |
| Valuation Premium (current) | ₹457.73 and above | Above the modelled fair-value range |

## The case for and against

- Supports — Business Quality 100/100
- Supports — Capital Allocation 100/100
- Supports — Financial Strength 73/100
- Supports — Shareholding Quality 72/100
- Supports — Management Stability 67/100
- Needs proof — Growth 55/100

## Key ratios

| Ratio | Indian Railway Catering and Tourism Corporation | Sector median |
| --- | --- | --- |
| P/E | 34.25x | — |
| P/B | 11.61x | — |
| P/S | 9.13x | — |
| Return on equity (ROE) | 32.3% | — |
| Return on capital employed (ROCE) | 43.5% | — |
| Operating margin | 34.2% | — |
| Net margin | 25.5% | — |
| Current ratio | 2.15x | — |

## Bull, base and bear case (model outputs, not forecasts)

| Scenario | Modelled CAGR | Weight | Assumption |
| --- | --- | --- | --- |
| Bear | −0.1% | 25% | Growth decelerates to 3.9% and the multiple de-rates toward the cohort's trough. |
| Base | +10.7% | 51% | Earnings compound near the measured 10.7% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +18.5% | 24% | Growth holds at 15% and the market pays the full premium the measured quality supports. |

## Questions

### Is Indian Railway Catering and Tourism Corporation overvalued or undervalued?

At ₹472.45, Indian Railway Catering and Tourism Corporation sits in VestCall’s “Valuation Premium” zone (₹457.73 and above): above the modelled fair-value range. Its valuation scores 96/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.

### Is Indian Railway Catering and Tourism Corporation fundamentally strong?

VestCall scores Indian Railway Catering and Tourism Corporation’s business health 76/100 (healthy). The strongest measured pillars are business quality and capital allocation. The ones that need proof are growth. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.

### What is Indian Railway Catering and Tourism Corporation’s P/E ratio?

Indian Railway Catering and Tourism Corporation trades at a P/E of 34.25x, on VestCall’s latest read. A multiple only means something against the business it buys: the quality-adjusted fair value on this page weighs it against Indian Railway Catering and Tourism Corporation’s returns and growth.

### What are the risks of investing in Indian Railway Catering and Tourism Corporation?

The review triggers VestCall watches for Indian Railway Catering and Tourism Corporation are: drawdown from the 52-week high exceeds tolerance (drawdown from 52-week high at or beyond 25%); return on equity falls below the quality floor (roe below 15%); revenue growth falls below the thesis floor (revenue cagr below 8%). On the fundamentals, growth is the weakest measured pillar at 55/100. A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.

### Is this a recommendation to buy or sell Indian Railway Catering and Tourism Corporation?

No. VestCall states where Indian Railway Catering and Tourism Corporation’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.

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Vestmind is not a SEBI-registered investment adviser or research analyst. This is research for information, not a recommendation or personalised investment advice.