• Exceptional items impact: Q4 PAT moderation was driven by exceptional bookings, including an additional ₹24 crore for CSR, ₹8 crore for expected credit losses, and the absence of a ₹48 crore legacy item from the base quarter. Excluding these items, normalized PAT percentage growth would be over 8%.
• Segment margin targets: The company plans to maintain margins of 10% to 12% across its catering, tourism, and Rail Neer businesses, while sustaining margins of around 80% in the IT segment.
• Tourism and catering drivers: The tourism business is targeted to grow by 20%, supported by luxury train and state tirtha travel, while catering growth is positioned to benefit from the planned rollout of over 200 Vande Bharat trains in the next 3 to 5 years.
• Rail Neer expansion: Capacity is expanding at the Ambernath and Danapur plants alongside new plant setups in Mysore and Prayagraj, with the segment expected to deliver 7% to 8% revenue growth at 10% to 12% profitability.
• Digital platform initiatives: IRCTC expects to launch a unified online travel portal within the year and has engaged technical service providers to submit documentation for a payment aggregator license by the RBI's extended deadline of August 2026.