FY27 Double-Digit Earnings Growth
Management expects double-digit earnings growth in FY27 assuming normal macro conditions (GDP growth ~7-7.5%, currency depreciation ~2-3%), citing that 10% growth is a 'given' for the business.
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Thomas Cook · forward-looking guidance across the available source record.
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Guidance tracker
What management said would happen.
growth
Travel Segment EBIT Margin Trajectory: 4%+
Management reiterated guidance of maintaining 4%+ EBIT margins for the travel segment, with ongoing yield optimization and tactical portfolio recalibration to address rupee-euro volatility.
Sterling EBITDA Margins: 32-35% Range
Sterling Holiday Resorts targets EBITDA margins between 32-35% going forward, with Q3 FY26 at 36% representing peak seasonality. The company will continue adding 15+ new resorts annually.
New Tax Regime Adoption from FY27
Company will transition to the new MAT-compliant tax regime effective FY27, enabling full utilization of accumulated MAT credit. This represents a positive earnings impact.
Sterling Resorts to cross 95 resorts and 4,500 rooms by FY27
More than 20 signups in pipeline; focus on tier 2/3 leisure corridors.
DI expects 50-60% recovery in Middle East by year-end
Cost optimization and automation to help, but top-line dependent on ground conditions.
Travel segment EBIT margin target of 5% remains intact
Long-term trajectory unchanged despite short-term geopolitical and mix headwinds.
Demerger of Sterling Resorts to complete by Q1 FY28
Board approval obtained; applications filed with NSE/BSE; process on track.