• Segment revenue performance: Fourth-quarter income rose 15% year-on-year despite a 9% decline in profit, driven by 26% to 27% growth in catering and 19% in tourism. Management aims to sustain full-year growth around the 12% achieved this year.
• Train fleet expansion: The Railway Ministry is aggressively targeting the rollout of approximately 200 Vande Bharat sleeper and Amrit Bharat trains over the next three to four years, which will serve as a major growth lever for the catering division.
• Tourism segment outlook: Management expects 19% to 20% growth in the tourism segment, driven by broad-based profitability across air ticketing, state tourism, and the Maharaja Express, alongside improving operational stability in the Tejas Express.
• Rail Neer capacity expansion: Existing daily capacities are being raised to 3 lakh bottles at Ambernath and 2 lakh bottles at Danapur, while land is identified or secured for new plants in Mysuru, Prayagraj, and Ranchi, with replacement land requested for Bhagalpur.
• Digital licensing initiatives: IRCTC has onboarded a technical service provider to complete Reserve Bank of India formalities for a payment aggregator license by August 2026, and the tender for a unified cross-selling platform is underway.