On 6 Nov 2026, Trade Wings was priced at ₹479.00, or 105.7× trailing earnings, against an industry P/E of 23.5×, and the shares are 43% below their 52-week high. Sales grew 7.1% a year over 3 years while net profit fell 10%, with ROCE of 46%. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹19 Cr. It is a small-cap company with a market cap of ₹144 Cr, ranked 8th of 15 Travel Services companies by market cap; the shares rose 749% over the past year.
- ₹479.00
- ₹479.00
- ₹479.00
- ₹479.40
- 10
Health check
- ReturnsAhead
+749.4% over a year, better than 7 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthSlow
Sales +7.1%, profit −10.4% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags5 to check
Negative net worth: liabilities exceed assets.
Small cap
Defensive
Key metrics
- Market cap
- ₹144 Cr
- Small cap
- P/E
- 105.7
- Industry 23.5
- Price to book
- −15.69
- Peers 2.55
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 9.1%
- ROCE
- 45.6%
- Peers 12.1%
- Debt to equity
- n/a
- Debt ₹19 Cr
- EPS (TTM)
- ₹4.53
- OPM (TTM)
- −0.7%
- Net margin 0.5%
- Sales growth
- +0.4%
- Latest quarter vs a year ago
- Profit growth
- −656.7%
- Latest quarter vs a year ago
- Price to sales
- 0.55
- EV/EBITDA 23.4
Strengths and risks
Strengths
- Return on capital employed of 45.6%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Negative net worth: liabilities exceed assets.
- Quarterly profit down 656.7% on a year ago.
- P/E of 105.7 against an industry P/E of 23.5.
- 43% below its 52-week high.
- Interest coverage of only 0.1×.
About Trade Wings
Trade Wings Limited, together with its subsidiary, Trade Wings Hotels Limited, provides travel and travel related services in India and internationally. It operates through two segments, Cargo and Others; and Travel Related Services. The company owns and operates the Bogmallo Beach Resort, a five-star hotel; and restaurant and banquet facilities. In addition, the company provides foreign exchange services, including foreign currency notes and prepaid…
- Headquarters
- Navi Mumbai
- Employees
- 117
- Sector
- Consumer Cyclical
- ISIN
- INE961E01017
- Website
- tradewings.in
Price range
- Avg volume (3M)
- 39
- 1-year return
- plus 749.4%
- From 52-week high
- minus 43.4%
Peers · Travel Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IRCTCIndian Railway Catering And Tourism Corporation | 457.00 | minus 0.15% | 36,560 | 26.2 | 8.49 | 41.1% | 35.0% | 29.6% | 13.8% | 11.5% | 1.97% | minus 36.3% |
| TBOTEKTBO Tek | 1,564.70 | minus 0.75% | 16,746 | 61.7 | 9.67 | 15.0% | 17.5% | 14.3% | 36.7% | 19.2% | 0.00% | minus 0.8% |
| IXIGOLe Travenues Technology | 165.89 | plus 1.28% | 7,320 | 49.5 | 3.41 | – | 10.7% | 7.2% | – | – | 0.00% | minus 37.2% |
| THOMASCOOKThomas Cook (India) | 100.28 | plus 5.42% | 4,717 | 21.4 | 1.76 | 10.5% | 7.8% | 4.9% | 18.4% | 223.5% | 0.50% | minus 41.2% |
| EASEMYTRIPEasy Trip Planners | 6.02 | plus 0.67% | 2,399 | – | 2.55 | −5.0% | −5.2% | −5.2% | 6.1% | – | 0.00% | minus 24.6% |
| YATRAYatra Online | 77.39 | plus 0.08% | 1,214 | 39.1 | 1.47 | 6.7% | 5.8% | 7.1% | 41.3% | 83.0% | 0.00% | minus 46.3% |
| ITHLInternational Travel House | 278.50 | minus 0.46% | 223 | 13.6 | 1.20 | 13.7% | 9.1% | 13.5% | 8.1% | −13.3% | 1.97% | minus 39.0% |
| TRADWINTrade Wings | 479.00 | minus 0.08% | 144 | 105.7 | −15.69 | 45.6% | – | −0.7% | 7.1% | −10.4% | 0.00% | plus 749.4% |
| Median of 7 peers | – | 0.08% | 4,717 | 32.7 | 2.55 | 12.1% | 9.1% | 7.2% | 16.1% | 19.2% | 0.00% | −37.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 67.6 | 58.9 | 67.1 | 68.5 | 67.9 | |
| 68.5 | 61.4 | 66.2 | 66.7 | 69.9 | |
| −0.9 | −2.5 | 1 | 1.8 | −2 | |
| −1.3% | −4.2% | 1.4% | 2.6% | −3.0% | |
| 2.3 | 2.1 | 2.2 | 1.9 | 2.3 | |
| 0.7 | 0.9 | 1.4 | 0.9 | 0.5 | |
| 0.5 | 0.6 | 0.6 | 0.5 | 0.6 | |
| 0.2 | −1.9 | 1.2 | 2.3 | −0.9 | |
| – | – | – | −29.1% | – | |
| 0.2 | −1.9 | 1.2 | 3 | −0.9 | |
| 0.53 | -6.47 | 4.05 | 9.88 | -2.93 |
Profit & loss
- Sales CAGR 3Y
- +7.1%
- Profit CAGR 3Y
- −10.4%
- EPS CAGR 3Y
- −10.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 214 | 242 | 250 | 262 | |
| – | +13.5% | +3.0% | +4.9% | |
| 209 | 239 | 247 | 262 | |
| 4.8 | 3.8 | 3.2 | 0.4 | |
| 2.2% | 1.6% | 1.3% | 0.1% | |
| 4 | 5 | 5.9 | 8.3 | |
| 3.8 | 3.4 | 3.1 | 3.9 | |
| 1.4 | 1.5 | 2.2 | 2.3 | |
| −0.7 | −0.3 | −0.2 | −0.8 | |
| 2.9 | 3.6 | 3.6 | 1.7 | |
| −13.0% | 12.8% | −5.3% | −38.7% | |
| 3.3 | 3.1 | 3.8 | 2.4 | |
| – | minus 6.6% | +22.2% | minus 37.1% | |
| 11.11 | 10.37 | 12.68 | 7.98 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3 | 3 | 3 | 3 | |
| −20.2 | −17.6 | −13.9 | −12.2 | |
| 31 | 26.3 | 21.1 | 21.6 | |
| 41.3 | 41.9 | 47.3 | 43.3 | |
| 55.1 | 53.6 | 57.5 | 55.8 | |
| 23.4 | 25 | 24 | 22.1 | |
| 0.1 | 0.1 | – | 0.1 | |
| 4.6 | 3 | 6.3 | 5.4 | |
| 26.9 | 25.5 | 27.2 | 28.1 | |
| 55.1 | 53.6 | 57.5 | 55.8 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.3 | 4.8 | 7.4 | 3.9 | |
| −0.3 | −3 | −1.4 | −0.5 | |
| −3.8 | −3.4 | −3 | −3.9 | |
| 1.2 | −1.7 | 3.1 | −0.4 | |
| −0.4 | −3.2 | −1.2 | −1.7 | |
| 4.9 | 1.6 | 6.3 | 2.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.