THOMASCOOK Q4 FY26 Guidance vs Delivery (THOMASCOOK Management Mirror)

Travel & MICE Segment

Management softened its near-term volume outlook in the Mar'26 Qtr, citing a volatile environment and subdued long-haul travel that short-haul and domestic growth cannot fully offset, a shift from the broader industry recovery expected during the Sep'25 and Dec'25 Qtrs; however, the long-term travel EBIT margin target of 5% remains intact, while MICE bookings are delayed and expected to translate into revenue by H2 FY27. [Status: Downgraded]