Travel Food Services Limited · NSE:TRAVELFOOD
Travel Food Services — Q4 & FY26 Earnings Presentation
45 slides from Travel Food Services's earnings presentation, May 25, 2026
Slide 1: Investor Presentation Filing Letter to Exchanges
May 25, 2026 To, To, Department of Corporate Services Listing Department BSE Limited The National Stock Exchange of India Limited P.J. Towers, Dalal Street, Exchange Plaza, 5th Floor, Bandra Kurla Complex, Mumbai-400 001. Bandra (East), Mumbai-400 051 Scrip Code: 544443 Scrip Code: TRAVELFOOD Dear S
Slide 2: Earnings Presentation Q4 & FY26
EARNINGS PRESENTATION Q4 & FY26 May 2026
Slide 3: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements This presentation and the accompanying slides (the “Presentation”) have been prepared by Travel Food Services Limited (the “Company”) solely for informational purposes of general public. This Presentation does not constitute or form part of and should not be
Slide 4: Agenda
Agenda 1 Introduction to Travel Food Services Ltd. (TFS) 2 Financial Performance Update: Q4 & FY26 3 Operational Highlights: Q4 & FY26 4 Financial Track Record 5 Industry Landscape and Key Strategic Priorities 6 Company Overview Travel Food Services Limited 3
Slide 5: Introduction to Travel Food Services Ltd. (TFS)
Introduction to Travel Food Services Ltd. (TFS)
Slide 6: Message from Managing Director & CEO
Message from Managing Director & CEO VARUN KAPUR Managing Director and CEO Dear Stakeholders, ₹ 32,144 Million FY26 has been a landmark year for TFS - our first full year as a listed company that has been marked by strong System-wide Sales in FY26 financial performance, with system-wide sales growin
Slide 7: India's Largest Travel QSR and Lounge Operator
India’s Largest Travel QSR and Lounge Operator 318 Million 1 20 Airports 3 Air Passenger Traffic at TFS Presence across India, managed Airports in India Malaysia and Hong Kong Joint Ventures 145 Brands3 With Leading Indian Airport Operators: In-house, International & Adani Airport Holdings Ltd. Regi
Slide 8: Financial Performance Update: Q4 & FY26
Financial Performance Update: Q4 & FY26
Slide 9: Key Highlights of Q4FY26 & FY26
Key Highlights of Q4FY26 & FY26 A Quarter and Full Year of Consistent Delivery — Driven by Execution Discipline, Strategic Footprint Expansion and Improved Profitability System-wide Performance1 Sales Growth Profit Growth Network Expansion & Wins ❖ System-wide sales scaled to ❖ FY26 Like-for-Like (L
Slide 10: Q4FY26: System-wide Sales up 27.7% & Consolidated PAT up 15.1% YoY
Q4FY26: System-wide Sales up 27.7% & Consolidated PAT up 15.1% YoY Industry Dynamics ❖ For Q4FY26, passenger traffic at TFS-managed airports at a system-wide level was broadly flat year-on-year. ❖ Although the quarter started with positive momentum, growth was impacted by the onset of the Middle Eas
Slide 11: Q4FY26: Sales Growth & Cost Optimisation Supporting Profitability
Q4FY26: Sales Growth & Cost Optimisation are Supporting Profitability Levels Profitability Metrics Gross Profit Particulars ❖ Gross Profit for the quarter rose to Rs.4,021 million, up 32.2% (Rs. Million, unless Q4FY26 Q4FY25 YoY YoY, driven by sales growth, higher value combo sales & one-time stated
Slide 12: FY26: System-wide Sales up 25.4% YoY & Consolidated PAT up 21.5% YoY
FY26: System-wide Sales up 25.4% YoY & Consolidated PAT up 21.5% YoY System-wide sales1 (Rs. Million) Consolidated PAT2,3 (Rs. Million) Industry dynamics 21.5% 25.4% ❖ At TFS-managed airports, passenger traffic increased by 1.2% for FY26, despite multiple disruptions seen during the year. However, t
Slide 13: FY26: Key Financial Metrics At A Glance
FY26: Key Financial Metrics At A Glance ₹32,144 Mn ₹16,478 Mn ₹6,485 Mn ₹4,523 Mn System-wide Sales1 Consolidated Sales Consolidated EBITDA Consolidated PAT ₹33.4 Earnings Per Share3 23.7% YoY2 25.4% 13.9% 39.4% 27.4% YoY Growth YoY Growth2 EBITDA Margin PAT Margin System-wide Sales Consolidated Sal
Slide 14: FY26: Consolidated Profit and Loss Statement – Key Metrics
FY26: Consolidated Profit and Loss Statement – Key Metrics Deconsolidation FY25 FY25 Particulars FY26 YoY + Other Adjustment Adjusted Reported (Rs. million, unless stated) Reported Growth FY251 C = (A) - (B) (A) (B) Revenue from Operations 16,478 14,470 13.9% 2,408 16,877 Gross Profit 13,961 11,827
Slide 15: Operational Resilience Amid Peak Travel Disruptions
Operational Resilience Amid Peak Travel Disruptions While the fourth quarter was impacted by Middle-East conflict, full year FY26 saw a series of unexpected travel disruptions. TFS Response (Preparedness) Impact Created Rapid scale-up of essential F&B 24x7 continuous service availability ❖ Essential
Slide 16: Operational Highlights: Q4 & FY26
Operational Highlights: Q4 & FY26
Slide 17: Expanding the Network and Brand Portfolio Across Airports
Expanding the Network and Brand Portfolio Across Airports TFS strengthened its market position at a system-wide level by increasing the network and elevating the brand portfolio. Travel QSR Outlets Lounges Brands 145 518 39 37 127 442 Mar-25 Mar-26 Mar-25 Mar-26 Mar-25 Mar-26 Travel Food Services Li
Slide 18: Key Operational Highlights: Q4 & FY26
Key Operational Highlights: Q4 & FY26 Increased Airport Scaled-up Travel Enhanced Lounge Brand Portfolio Direct Bank-to-lounge Presence QSR Outlets Network Ramped Up access enabled ❖ Scaled system-wide ❖ Increased network to 518 ❖ Now operating 39 lounges ❖ Brand portfolio expanded ❖ Partnered with
Slide 19: Commencement & Ramp-up at Recently Awarded Concessions
Commencement & Ramp-up of Operations at Recently Awarded Concessions Cochin International Airport – Domestic Terminal 1 Indira Gandhi International (IGI) Airport, New Delhi – Terminal 1 ❖ Amongst the top 10 largest airport in India and handled 11Mn+ ❖ Largest domestic terminal in India with capabili
Slide 20: Progress at Large Greenfield Airports
Progress at Large Greenfield Airports In-line With Project Scale-up Navi Mumbai International Airport Noida International Airport ❖ Commencement of Operations through JV Semolina Kitchens ❖ Awarded the contract to operate Travel QSR Outlets and Lounges ❖ Operations started in Dec-25 and scale-up as
Slide 21: Recent Key Outlets & Lounge Openings
Recent Key Outlets & Lounge Openings to Expand Presence & Drive Growth Malabar Express (Kitchen & Bar) Masala Kitchen Cochin International Airport Indira Gandhi International Airport, Delhi (Domestic Terminal 1) (Domestic Terminal 1) Travel Club Lounge Gordon Ramsay Street Pizza Mumbai CSMIA T2 Coch
Slide 22: Elevating Customer Engagement Through Events & Celebrations
Elevating Customer Engagement Through Events & Celebrations Celebrating moments through curated events, collaborations, and festive experiences throughout the year, a few glimpses are shown below. Brand collaboration and high impact customer Swad-E-Watan Brand Collaboration engagement initiative Ind
Slide 23: Industry Landscape & Key Strategic Priorities
Industry Landscape & Key Strategic Priorities
Slide 24: Indian Aviation Markets Continue to Witness Strong Structural Growth
Indian Aviation Markets Continue to Witness Strong Structural Growth Demand-Side Drivers Supply-Side Drivers Indian air passenger traffic Increase in # of airports trends (in Million) 1 Existing Aviation Hub Expansion 6.9% ❖ India positioned as the world’s Number of Airports in India2 9.0% 3rd large
Slide 25: Indian Airport Travel QSR and Lounge Markets
Indian Airport Travel QSR and Lounge Markets Supported by Rising Passenger Spend and Premiumisation Indian Airport Travel QSR Industry Size (₹ Billion) 1 Evolving Customer Preferences Airport Travel QSR Market Premium Experience Indian travellers are 17%–19% 34-35% Travellers seek premium curated ex
Slide 26: Global Airport Lounge Industry and Indian Expressway QSR Opportunities
Global Airport Lounge Industry and Indian Expressway QSR Present Attractive Growth Opportunities GLOBAL LOUNGE OPPORTUNITY EXPRESSWAY TRAVEL OPPORTUNITY Global Airport Lounge Market Expressway Travel QSR Size (USD Bn)1 Industry Size (INR Bn) 1 Structural Entry Barriers Key Growth Drivers 265-285 15-
Slide 27: Key Strategic Priorities and Building for the Future
Key Strategic Priorities and Building for the Future Driving Technology Expanding Global Advancement Lounge Reach ❖ Delivering technology-enabled ❖ Pursue APAC and Middle solutions and services East markets for international Lounge ❖ Building a scalable travel growth opportunities hospitality platfo
Slide 28: Expanding Core Business: Driving Like-for-Like Sales Growth
Expanding Core Business: Driving Like-for-Like Sales Growth Structural Growth Drivers Strong Industry Tailwinds Premiumisation & Pricing Growth Menu Engineering & Innovations ❖ Indian Airport Travel QSR is ❖ Rising preference for premium ❖ Menu optimisation & expected to grow at 17%-19% offerings Li
Slide 29: Expanding Core Business: Increasing Presence At Existing & New Airports
Expanding Core Business: Increasing Presence At Existing & New Airports Awarded 2nd Kyra Lounge at Hong Kong International Airport ❖ Expansion across travel QSR & lounge formats at existing airports Growing in ❖ Strong execution track record supporting repeat wins Existing Markets ❖ Deeper participa
Slide 30: Recent Expansions & New Wins To Drive Growth
Expanding Core Business: Recent Expansions & New Wins To Drive Growth Strengthening TFS’ airport ecosystem presence through strategic concession wins and operational commencements across key aviation hubs Delhi IG I Airport Navi Mumbai International Cochin International Noida International Bhogapura
Slide 31: Driving Technology Advancement: Building the EATS Ecosystem
Driving Technology Advancement: Building the EATS Ecosystem EATS aimed at creating a unified access layer across lounge and airport hospitality services Integrated Ecosystem Banks & Card Connectivity Direct Lounge Networks Access Platform Advantages Future Expansion ❖ Unified access across lounges N
Slide 32: Expanding Global Lounge Reach & Exploring Expressway QSR
Expanding Global Lounge Reach & Exploring Expressway QSR Growth Drive Global Lounge Expansion Expressway QSR Expansion Growth Drivers International Presence 2nd Kyra Lounge Global Set-up Operating in Malaysia & Hong Opened at Formed ventures and subsidiaries (UAE and Kong Hong Kong Airport Indonesia
Slide 33: Financial Track Record
Financial Track Record
Slide 34: Strong Track Record of Growth and Performance
Strong Track Record of Growth and Performance… System-wide Sales1 (₹ Million) Consolidated PAT2 (₹ Million) Strong Double-digit System-wide Sales Growth Outstanding Growth with Steady Margin PAT margin 27.7% 25.4% 27.4% 21.4% 22.5% 32,144 21.5% 27.4% 25,642 5,000 4,523 15,666 4,500 20,082 3,797 8,76
Slide 35: With Strong Cash Flows and Returns
…With Strong Cash Flows and Returns Cash Balance2 Return on Equity4 and Return on Capital Net Worth3 (₹ Million) Employed5 (%) (₹ Million) Positive cash balance Strong financial stability and growth potential High return on capital 8,356 14,274 6,269 10,485 5,542 51.4% 8,691 46.1% 45.0% 33.6% 35.5%
Slide 36: Company Overview
Sos ANANDA RAAF ESNet
Slide 37: Integrated Airport Consumption Platform Across Travel QSR and Lounge
Integrated Airport Consumption Platform Across Travel QSR and Lounge Diversified Travel QSR Platform Multi-Model Lounge Network 30%1 518 145 55%2 45%1 39 3 41%2 QSR market Travel QSR Brand Revenue Lounge market Lounges Countries Revenue share1 Outlets portfolio share share1 Presence share Number of
Slide 38: Our Journey from 1 Airport to 20 Airports
Our Journey from 1 Airport to 20 airports in India and Internationally1 Strengthened footprint from a Single Concept to a Regional Leader SSP Group, one of the leading Travel F&B operators globally2, Launched 1st Travel QSR purchased stake in TFS Outlet at Mumbai Airport Entered New Delhi airport Ad
Slide 39: Present in 14/15 Largest Airports in India with ~92% Contract Retention
Present in 14/15 Largest Airports in India1 with ~92% Contract Retention Rate2 Present in 14 of 15 India’s largest airports, serving Secured via long-term contracts/partnerships 74%3 of India’s total air passenger traffic with airport operators TFS Existing Presence Under Execution (contracts won) S
Slide 40: Extensive Portfolio of Brands Across Cuisines and Formats
Extensive Portfolio of 145 Brands Across Cuisines and Formats Diversified range of in-house and partner brands catering to specific customer requirements Our powerhouse brand portfolio - in-house and partner brands2 # of Brand Partners3 In-house Brands In-house Brands 98 (Owned)1 90 76 # of Brands:
Slide 41: Our Partnership with Promoters Unlocks Strategic Benefits
Our Partnership with Promoters Unlocks Strategic Benefits SSP is one of the leading Travel F&B operators globally in 2024 1 K Hospitality is an Indian F&B player with… 3,000+ F&B outlets and Lounge 1 600+ Locations2 38 Countries1 50+ years Operates, Operational Present in 30+ cities in ~550 Of exper
Slide 42: Why We Win: Partner of Choice with Strong Competitive Strengths
Why We Win: Partner of Choice with Strong Competitive Strengths Multi-unit operations at Expertise in handling distinct airports Leading player in the Travel QSR and challenges in an operationally Lounge sector in airports complex and highly secure airport environment Using a wide range of brands an
Slide 43: Nourishing Communities: Key CSR Initiatives
Nourishing Communities: Key CSR Initiatives Vision: Food and Nutrition for All 3 Pillars of Impact Fight Hunger & Improve Health through Enhance Livelihoods & Malnutrition Nutrition Inclusion Employees participated in Sign language training Workshops for new Tata Mumbai Marathon sessions promoted mo
Slide 44: Recent Awards & Accolades
Recent Awards & Accolades India Most India Food Forum Admired 2025 - Marketing Retailer Of The Campaign of the Year Store Design & Year Durga Puja WORLD’S LEADING AIRPORT LOUNGE VM – Irish Festival – Kolkata FIRST CLASS House, (2015-2025) Bangalore India Food India Most Forum 2025 Secured 8 honours
Slide 45: Thank You
Thank You Contact Details: Name: Chhavi Agarwal, CFA Designation: Vice President - Investor Relations Email: investor.relations@travelfoodservices.com
Travel Food Services — Q4 & FY26 Earnings Presentation on 6ix