IRCTC

IRCTC continues to benefit from the recovery in travel, with catering, tourism, and internet ticketing segments all showing double-digit growth. Q1 FY26 revenue rose 15% YoY. Monopoly in online ticketing ensures steady profitability, while new initiatives in packaged water and luxury tourism add diversification. Dividend yield remains decent at ~2%. At ~40x FY26 EPS, valuations are expensive but consistent with IRCTC’s monopoly position. A structural play on India’s growing travel and tourism demand. Investors can hold for steady compounding with low risk.