AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT: 13.06.2021

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        TOURISM FINANCE CORPORATION OF INDIA

CMP 75.6 ENTRY 72 TO 75 STOPLOSS 60 TARGET 175 TIME: 12 MONTHS

 

Tourism Finance Corporation of India Ltd.(TFCI) is an Indian Financial Institution, setup in 1989 upon the recommendations of the National Committee of Tourism under the aegis of Planning Commission. Established as a premier tourism financing institution,TFCI has acted as a catalyst in creation of infrastructure in hospitality segment in over 3 decades of its existence. TFCI has also enabled various businesses to channelize their investments into different segments and locations of the tourism industry. Set-up by a group of government organisations like. IFCI, LIC, OIC, SBI, BOI, Canara Bank, etc., TFCI was instrumental in creating many firsts (viz., Indian Railways' Palace on Wheels, Esselworld,spa/wellness resort Ananda in the Himalayas, etc.) in hospitality sector. TFCI has assisted a third of the total capacity of branded hotels in India till date. It has been associated with major domestic as well as international hotel operating brands like ITC, Leela, Taj, Lalit,Lemon Tree, Hyatt, Marriott, Hilton, Radisson, Holiday Inn, Ramada, etc. With a view to augment tourist influx, TFCI has also acted as an advisor to central government, multiple state governments/ its affiliated agencies and has also assisted in interalia charting master tourism plan, promotional activities, market potential assessment, tourism flow surveys,market feasibility studies, etc. To name a few, it has been associated with Government of Himachal Pradesh, Ministry of Environment & Forests (GoI), Government of Gujarat, Gujarat State Tourism Development Corporation, Tamil Nadu Tourism Development Corporation,MP State Tourism Development Corporation Ltd., Delhi Tourism Transport Development

Corporation, Jharkhand Tourism Development Corporation, etc. TFCI had also advised Ministry of Railways for launching and managing pan-India luxury train services.It has an equity base of just Rs.80.72 crore that is supported by reserves of around Rs.710.87 crore which is almost 8.8 times higher against equity. The promoters hold 27.25%,

FPIs hold 16.42% while the investing public holds 56.33% stake in the company. Its share book value works out to Rs.98.10 and the price to book value ratio stands at just 0.77x.

 

During Q4FY21 it has reported superb numbers. For Q4FY21, TFCILTD posted 49.38% higher PAT of Rs.18.18 crore on 9.43% higher income of Rs.59.52 crore and an EPS of Rs.2.25. During FY21, it recorded PAT of Rs.80.75 crore on income of Rs.258.45 crore fetching an EPS of Rs.10.

At CMP, TFCILTD trades at P/E ratio of 7.55x and is available at 58.5% discount to its recent high of Rs.182.25. It recommends 8% dividend for FY21.

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