The Ministry of Railways has officially approved the resignation of Sanjay Kumar Jain, Chairman and Managing Director of Indian Railway Catering and Tourism Corporation (IRCTC), with effect from July 20, 2026. According to the latest official communication, a letter dated June 22, 2026, was received by IRCTC on June 23, 2026, confirming the competent authority's approval of Jain's resignation tendered on personal grounds. Jain joined IRCTC as CMD on February 14, 2024, and during his tenure, the railway PSU achieved significant milestones including elevation from 'Schedule B' to 'Schedule A' and from 'Mini Ratna-II' to 'Navratna' status by the Government of India. The CMD position had remained vacant for a stretch before Jain took over, and attention will now turn to who the government names as his successor and when the transition is completed after July 20.
IRCTC shares closed Tuesday's session at ₹515.30 on the BSE, declining 0.55% from the previous close, as reported by Business Standard. The stock witnessed intraday volatility as investors reacted to the official confirmation of Jain's resignation. At the current market price, the company commands a market capitalisation of about ₹64,404 crore, which makes a change at the top a matter of interest for investors as well as for the railway establishment. Market participants will now watch for any announcement regarding his successor and the company's future strategic priorities.
According to the latest quarterly results, IRCTC reported a 15.07% year-on-year rise in consolidated revenue from operations to ₹1,459.71 crore in Q4 FY26, compared with ₹1,268.53 crore in the corresponding quarter last year. However, the company's consolidated net profit declined 8.88% year-on-year to ₹326.36 crore in Q4 FY26 from ₹358.22 crore in Q4 FY25. On a sequential basis, revenue was up 0.71% from ₹1,449.40 crore reported in the December quarter. Total income for the quarter increased 14.78% year-on-year to ₹1,526.24 crore from ₹1,329.69 crore a year earlier. However, the company's EBITDA margin contracted to 27.33% in Q4 FY26 from 30.39% in Q4 FY25 and 32.11% in the preceding quarter, reflecting the impact of higher operating and other expenses.
During Jain's tenure, IRCTC achieved its highest-ever financial performance in FY 2025–26, with revenue reaching ₹5,215 crore. The company recorded its highest-ever tourism revenue of ₹890 crore in 2025–26, with close coordination between Railways and IRCTC contributing to significant growth in this segment. The Ministry officials highlighted that efforts were made to make the e-ticket booking process more customer-centric through the adoption of better technologies, while other initiatives included proof-of-concept trials with reputed brands and extensive use of artificial intelligence to improve public services. The company also introduced online pre-booked meals through e-Pantry services in mail and express trains and implemented AI-enabled cameras at centralised locations for monitoring base kitchens.
