Sterling Holiday Resorts (Subsidiary) Reports Record Q3 FY26 Results
Sterling Holiday Resorts reported record Q3 FY26 results with highest-ever revenue, EBITDA, and PBT. Total revenue reached ₹158.2 million (₹15.82 crore), a 10% YoY growth. The company maintained a 36% EBITDA margin and a debt-free balance sheet with a 54% increase in cash reserves.
The results are from a subsidiary, Sterling Holiday Resorts, and while positive, the direct impact on the parent company, Thomas Cook (India) Limited, is moderate. The growth in revenue and profitability of the subsidiary is a positive indicator.
The announcement details record-breaking financial performance, including highest-ever revenue, EBITDA, and profitability, along with consistent profitability and a strong balance sheet, indicating positive business momentum.
Sterling Holiday Resorts Limited, a wholly-owned subsidiary of Thomas Cook (India) Limited, has announced its record-breaking Q3 FY26 financial results, marking its 24th consecutive profitable quarter.
For the quarter ended December 31, 2025, Sterling reported a total revenue of ₹158.2 million (₹15.82 crore), a 10% year-on-year growth. The company achieved an EBITDA margin of 36%, which is significantly above the industry average. Sterling maintains a debt-free balance sheet, with its cash reserves increasing by 54% year-on-year.
The company attributes its sustained performance to its consistent growth model, rapid ramp-up capability for new resorts, and its digital distribution platform, Sterling ONE. Sterling has expanded its portfolio to 72 resorts, hotels, and retreats across 59 destinations. The company continues to reinvest in its properties, enhancing guest experiences with upgrades like themed suites and wellness offerings.
Mr. Vikram Lalvani, Managing Director & CEO of Sterling Holiday Resorts, expressed optimism about the company's strong financial performance and operational gains. He highlighted that India's domestic travel sector shows significant tailwinds, and Sterling is well-positioned to capitalize on this growth with its expanding resort network, enhanced digital capabilities, and focus on guest experience, anticipating sustained momentum in H2 FY26 and beyond.
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