PSU IRCTC Plans To Introduce More Premium Trains, Shares To Go Ex-Dividend Soon

Miniratna status railway PSU Indian Railway Catering and Tourism Corporation Ltd shares gained 3.23% in last 1-week and zoomed 44% in last 1-year. IRCTC is looking for better margins in the catering business with the launch of more premium trains that will consist of Duronto and Vande Bharat, among others. IRCTC is contemplating 15% catering margins in financial year 2025 as the PSU seeks to target more mail and express trains that will be running over 12 hours and fall in the category of day trains.
Mr Sanjay Kumar Jain, Chairman and Managing Director at IRCTC said during analyst call, "See, so far, a premium segment is concerned, we have already introduced our cluster system as I told last time. And this is giving confidence to our licensees to share more revenue with us because it's a long-term contract being given to them. And over a couple of clusters we have already finalized and some of the clusters we have already offered slice."

So generally, it should be on the same range. But in the time to come more and more Vande Bharat trains are coming. So premium trains are certainly giving us a better revenue than the non-premium trains. So I'm very hopeful of getting a more and more percentage of revenue, while the number of trains or prepaid trains increase, added Sanjay Kumar Jain.

So generally, it should be on the same range. But in the time to come more and more Vande Bharat trains are coming. So premium trains are certainly giving us a better revenue than the non-premium trains. So I'm very hopeful of getting a more and more percentage of revenue, while the number of trains or prepaid trains increase.

Current market price of Indian Railway Catering and Tourism Corporation shares on BSE is Rs 939.15 per share. The copmany's market capitalisation stood at Rs 75,132.00 crore. Indian Railway Catering and Tourism Corporation shares slipped 17% in last 3-months, offered return of 44% in last 1-year, gained 32% in last 2-years, and zoomed over 77% in last 3-years. The 52-week high price of Indian Railway Catering and Tourism Corporation shares on BSE is Rs 1148.30 per share (as on 22/05/2024) and 52-week low price is Rs 636.10 per share (as on 26/10/2023), respectively.

Indian Railway Catering and Tourism Corporation Ltd shares will trade ex-dividend tomorrow (i.e. August 23, 2024). IRCTC recommended a Final Dividend of Rs.4/- per share of face value of Rs. 2/- each for the financial year 2023-24l@2ooo/o ofthe paid-up share capitall, subject to the approval of shareholders in the forthcoming Annual General Meeting.

IRCTC fixed Friday, August 23, 2024 as the "Record Date" for the purpose of determining the members entitle to receive final dividend for the financial year 2023-24. The dividend, if declared at the AGM, will be paid within a period of 30 (thirty) days from the conclusion of the AGM.

IRCTC Stock Split History: Indian Railway Catering & Tourism Corporation Ltd split face value of its shares once since October 28, 2021. Indian Railway Catering and Tourism Corporation Ltd last split face value of its shares from Rs 10 to Rs 2 in 2021. IRCTC shares has traded ex-split from October 28, 2021.

About: Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a "Mini Ratna (Category-I)" Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems. The authorized capital of the company is 250 crores and paid up capital is 160 crores. It's registered and Corporate Office is situated at New Delhi.

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