Main revenue sources of IRCTC:

1. Internet Ticketing
2. Catering
3. Tourism
4. Sale of Drinking Water (Rail Neer)

TOP 3 markets and their percentage shares:

1. Internet Ticketing: approx. 50%
2. Catering: approx. 25%
3. Tourism: approx. 15%

IRCTC generates the majority of its revenue from internet ticketing, which has seen significant growth due to increasing digitalization and the convenience of online booking. The catering sector benefits from the high number of passengers who avail themselves of catering services during their journeys. The tourism sector includes organized tours and packages offered both nationally and internationally. The sale of drinking water, known as Rail Neer, supplements the revenue but is not among the top 3 markets.

Production Sites: India (various locations)

Indian Railway Catering & Tourism Corporation Limited (IRCTC) is a company that mainly offers services in the catering, tourism, and online ticketing sectors for the Indian railways. Since IRCTC does not produce physical products in the traditional sense but provides services, the "production" of these services takes place throughout India.

The catering services are prepared in various kitchens and facilities in India, strategically positioned along the main routes of the Indian railways. These facilities are distributed in a way that ensures efficient supply of food and beverages to the trains.

In addition, IRCTC also operates online platforms for ticket bookings and tourist services, managed from their offices and IT centers in India.

Revenue Growth: Estimated 10-12% annually (2025)

Profit Growth: Estimated 8-10% annually (2025)

The Indian Railway Catering & Tourism Corporation Limited (IRCTC) is pursuing several strategic initiatives to secure its future growth. One of the main strategies is diversifying its services. IRCTC is continuously expanding its offerings in online ticketing, catering, and tourism services.

Another key growth factor is digitization. IRCTC is investing in technological improvements to enhance the user-friendliness of its platforms and increase the efficiency of its services. This includes introducing new mobile applications and enhancing existing online booking systems.

Additionally, IRCTC plans to strengthen its presence in the tourism sector by developing new travel packages and forming partnerships with other travel providers. This strategy aims to increase market share in the growing Indian tourism sector.

Through these measures, IRCTC expects to further solidify its market position and achieve sustainable growth in the coming years.

Main Imported Raw Materials: Food products, packaging materials

Countries of Origin: India, USA, China, European countries

IRCTC, as a subsidiary of Indian Railways, is primarily engaged in catering, tourism, and online ticketing. The main raw materials imported by IRCTC are food products and packaging materials needed for the preparation and distribution of meals on trains and at railway stations.

The food products are mostly sourced locally in India to ensure freshness and quality. However, packaging materials and certain specialized ingredients could be imported from countries such as the USA, China, and various European countries to meet specific quality standards and requirements.

The exact breakdown of import sources may vary depending on current supply chain conditions and the specific requirements of IRCTC's catering department.

Market share in online ticketing: Over 70% (estimated for 2025)
Monopoly position in catering: 100% for Indian Railways
Tourism growth: 10% (2024)

Indian Railway Catering & Tourism Corporation Limited (IRCTC) has a significant competitive advantage due to its monopoly position in railway catering and a dominant position in online ticketing for Indian Railways. With an estimated market share of over 70% in the online ticketing segment, IRCTC remains the leading provider in this area.

Furthermore, IRCTC benefits from exclusive contracts with the Indian government, allowing the company to provide all catering services for Indian Railways. This monopoly position ensures stable revenue streams and a strong market position.

In the tourism sector, the company also shows solid growth with an estimated growth rate of 10% in 2024, attributed to increasing demand for organized travel and tourism services. These factors together give IRCTC a significant and sustainable competitive advantage.

Institutional Investor Share: approximately 7.5% (2025, estimated)

Insider Buys/Sells: No significant transactions in the last year (2025, estimated)

The institutional investor share in IRCTC is around 7.5%. This indicates a moderate interest from institutional investors, pointing to the company's stable market position and growth potential.

In 2025, there were no significant insider buys or sells. This could suggest that the management has confidence in the current business development and does not expect any short-term changes.

Market share of IRCTC: 70% (2025, estimated)

Main competitors and their market share:

1. MakeMyTrip: 10%
2. Cleartrip: 7%
3. Yatra: 5%
4. EaseMyTrip: 4%
5. RedBus: 3%
6. Ixigo: 1%

Moat of IRCTC:

IRCTC has a significant moat, mainly due to its exclusive partnership with the Indian Railways. This partnership allows IRCTC to be the sole provider of online ticket bookings for the Indian Railways, giving it a substantial competitive advantage. Additionally, IRCTC benefits from a strong brand image and a high level of customer trust as it is a government-owned company.

In comparison to its competitors, IRCTC has a clear advantage due to its monopoly in the railway ticket booking sector. While companies like MakeMyTrip and Cleartrip also have significant market shares in online travel bookings, they cannot directly compete with IRCTC's unique position in the railway sector.

However, competitors have their own strengths, particularly in diversifying their services such as flight and hotel bookings, giving them advantages in other segments of the travel market. Nevertheless, IRCTC's moat in railway services remains unparalleled.

Revenue Growth: 18% (2024) Profit Growth: 20% (2024) Market Share in Online Ticketing: 70% (2024)

The Indian Railway Catering & Tourism Corporation Limited (IRCTC) recorded strong revenue growth of 18% in 2024, driven by increasing demand for online ticketing and catering services. The company benefits from its dominant market position in the online ticket sales sector in India, where it holds a market share of approximately 70%.

In addition, IRCTC achieved a profit growth of 20% in 2024, attributed to efficiency improvements and expansion of service offerings. Diversification into tourism and gastronomy sectors also contributes positively to the financial performance.

Given its strong market position, continuous growth, and diversification strategy, IRCTC could present an attractive investment opportunity. However, potential investors should also consider regulatory risks and dependence on Indian railway policies.

Dividend yield: 1.5% (estimated for 2025)

Dividend history: Continuous payout over the last 5 years

The Indian Railway Catering & Tourism Corporation Limited (IRCTC) has regularly distributed dividends in recent years. The dividend yield for 2025 is estimated to be around 1.5%, based on historical payouts and the company's financial stability.

IRCTC has a reliable dividend policy supported by stable revenues from its monopoly in railway catering and online ticket booking. The continuous payouts in recent years demonstrate the company's commitment to returning a portion of profits to shareholders.