Rategain Travel Technologies Ltd
RateGain Travel Technologies Ltd is the leading distribution technology company globally and the largest Software as a Service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries.[1]
Strengths
- +Company is almost debt free.
- +Company has delivered good profit growth of 80.5% CAGR over last 5 years
Weaknesses
- −Stock is trading at 5.26 times its book value
- −Though the company is reporting repeated profits, it is not paying out dividend
- −Company has a low return on equity of 4.05% over last 3 years.
- −Earnings include an other income of Rs.52.4 Cr.
- −Debtor days have increased from 102 to 123 days.
- −Promoter holding has decreased over last 3 years: -6.99%
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 48.25% | 48.22%▼0.0 | 48.22% | 48.17%▼0.0 | 48.16%▼0.0 | 48.16% | 48.55%▲0.4 | 48.77%▲0.2 |
| FIIs | 9.54% | 10.21%▲0.7 | 8.27%▼1.9 | 7.6%▼0.7 | 5.51%▼2.1 | 5.49%▼0.0 | 4.97%▼0.5 | 5.35%▲0.4 |
| DIIs | 21.66% | 20.56%▼1.1 | 22.61%▲2.1 | 23%▲0.4 | 23.54%▲0.5 | 21.58%▼2.0 | 20.62%▼1.0 | 20.86%▲0.2 |
| Public | 20.49% | 20.96%▲0.5 | 20.84%▼0.1 | 21.16%▲0.3 | 22.74%▲1.6 | 24.71%▲2.0 | 25.8%▲1.1 | 24.96%▼0.8 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 39.18 | 46.53 | 49.27 | 49.45 | 49.12 | 53.48 | 58.38 | 58.86 | 63.53 | 62.64 |
| Expenses | 41.09 | 37.27 | 42.29 | 45.52 | 45.39 | 45.39 | 40.15 | 52.13 | 54.34 | 55.1 |
| Operating Profit | -1.91 | 9.26 | 6.98 | 3.93 | 3.73 | 8.09 | 18.23 | 6.73 | 9.19 | 7.54 |
| OPM % | -4.87% | 19.9% | 14.17% | 7.95% | 7.59% | 15.13% | 31.23% | 11.43% | 14.47% | 12.04% |
| Net Profit | 4.13 | 16.64 | 17.93 | 14.3 | 13.39 | 17.82 | 26.63 | 18.06 | 20.27 | 0.29 |
| EPS ₹ | 0.38 | 1.41 | 1.52 | 1.21 | 1.14 | 1.51 | 2.26 | 1.53 | 1.72 | 0.02 |
AI Insights
TTM revenue at ₹243Cr, up 15.7% YoY. OPM at 17%.
Borrowings at ₹11Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.
DIIs: 20.86% (+3.08pp change). FIIs: 5.35% (+0.02pp change). Promoters hold 48.77%.
ROCE improving from 0% (Mar 2019) to 7% (Mar 2025). Working capital days: 1169.
PE 111x with 7.28% ROCE. Price is 439% above book value of ₹119. Dividend yield: 0%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
- Board Meeting Intimation for To Consider And Approve The Audited Standalone And Consolidated Financial Results ('Financial Results') Of The Company For The Quarter And Financial Year Ended March 31, 2026. 2d - Board meeting on May 21, 2026 to approve Q4 and FY26 audited standalone and consolidated results.
- Details Of Key Managerial Personnel ('KMP') Under Regulation 30(5) Of SEBI (Listing Obligations And Disclosures Requirements), Regulations, 2015 2d - RateGain disclosed KMPs authorized for materiality decisions and stock exchange disclosures.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 12 May
- Announcement under Regulation 30 (LODR)-Change in Management 8 May - Rohan Mittal resigns as CFO effective May 8, 2026; Ankit Aggarwal becomes interim CFO from May 9, 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from web
- Financial Year 2023 from bse