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What is your View on India Tourism Development Corporation?

ITDC is into hotels, restaurants business owned by Indian Government with Market Cap of 2000 crores.
Observing in a Value Investor way, the good things are Zero Debt, High Promoter Holdings, Doubled EPS, Low Volume etc. However, If you do a Forensic Analysis, this company is Not too good as the EPS Growth comes from Other Income & not through Business.

Hence the company cannot claim real growth in sales or profits.  The PE is whopping at 89 which is at Page Industries level with almost flat growth rate. The ROCE & ROE are messed up too at very low levels.   The latest 2 years shows decline in Sales which is alarming.

Overall it is a Public Ltd. company & there is very less reasons to support such a company in  Hospitality sector where too much private players & dynamic models being used.

Point Stay away from this counter.

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