TBO Tek Ltd. announced a robust Q2 FY2026 performance, marked by a 26% year-over-year increase in revenue and an 18.32% Adjusted EBITDA margin. The growth was driven by broad-based expansion and improved profitability, highlighting the company’s strong recovery and strategic acquisitions, including Classic Vacations completed on October 1, 2025. Monthly transacting buyers reached 30,662, up 8% YoY.
Financial Highlights for Q2 FY26
TBO Tek Ltd. reported a strong Q2 FY26, demonstrating substantial growth and enhanced profitability. Key metrics include:
- Revenue: Increased by 26% year-over-year.
- Adjusted EBITDA Margin: Reached 18.32% before acquisition-related costs.
- Monthly Transacting Buyers: Climbed to 30,662, an 8% increase year-over-year.
- Gross Transaction Value (GTV): Rose to ₹8,901 Cr, a 12% YoY increase.
- Gross Profit: Achieved ₹363 Cr, up 19% YoY.
- Adjusted EBITDA: Stood at ₹104 Cr, reflecting a 16% YoY growth.
Operational Overview
The company experienced a strong recovery from previous headwinds, with key markets in Europe, APAC, and India showing positive momentum. Notably, Hotels and Ancillaries saw significant growth, contributing substantially to both GTV and Gross Profit.
Strategic Developments
During the quarter, TBO Tek finalized the acquisition of Classic Vacations, which was completed on October 1, 2025. The acquisition aims to strengthen TBO Tek’s position in the luxury travel market. This resulted in one-time acquisition related costs of ₹13.15 Cr.
Segment Performance
The Hotels and Ancillaries segment expanded its influence, representing 64% of GTV and 87% of Gross Profit. The India business showed signs of consolidation and arrested its previous degrowth trend.
Cash Position
As of September 30, 2025, the company’s Cash and Cash Equivalents amounted to ₹1,955.9 Cr, which includes funds earmarked for the Classic Vacations acquisition.
KAM-Driven Unit Economics
The company’s Key Account Managers (KAMs) are crucial for onboarding and nurturing new travel agencies, contributing to a scalable and efficient platform.
Geographical Performance
Across different regions, TBO Tek observed the following:
- Europe: Returned to normalcy with 20% YoY growth in GTV.
- Middle East & Africa (MEA): Continued its strong performance, with Hotels + Ancillary GTV growing 27% YoY.
- Americas (Latin + North America): Delivered a strong recovery, with Hotels + Ancillary GTV growing 10% YoY.
- Asia Pacific (APAC): Showed the highest growth rate across regions, with a 41% YoY increase in Hotels + Ancillary GTV.
Source: BSE
