Current/ Expected Orderbook/ Pending Orders?

Easy Trip Planners Limited is entering the electric bus manufacturing business through its subsidiary YoloBus. Initially faced challenges in procuring electric buses from suppliers, leading to plans to assemble and manufacture electric buses in-house. After announcing this plan, the company started receiving external orders for electric buses. Detailed analysis revealed a strong market opportunity, prompting plans to set up a manufacturing unit within the next couple of years. Exact capacity or orderbook figures for electric buses are not disclosed yet, as the business is still a work in progr

Any current/future new fundraising through debt or equity?

Easy Trip Planners Limited plans to invest in electric vehicle (EV) bus manufacturing. Capex for EV manufacturing will be funded partly from EaseMyTrip's free cash reserves (~INR 312 crores) and largely through loans from various banks and other investors. The hotel business in Ayodhya does not require significant capex from the company as it is an equity deal with a partner providing capital. No specific mention of equity fundraising or new share issuance in this call. Future acquisitions are possible but details remain confidential and will be disclosed when decided.

Any current/future capex/capital investment/strategic investment?

Easy Trip Planners Limited plans capex for electric vehicle (EV) manufacturing, specifically assembling and manufacturing electric buses through their subsidiary YoloBus. The EV manufacturing capex will be funded partly from EaseMyTrip’s free cash reserves (~INR 312 crore) and mostly through loans from banks and other investors. The electric bus manufacturing capacity and detailed capex figures are still under progress and not disclosed. The hotel business in Ayodhya is an equity partnership requiring minimal capex from the company, as the capital is provided by a partner. The company has made

Future growth expectations in sales/revenue/volumes?

The company remains optimistic about robust growth across its wider service regions (Page 12). Expansion in Non-Air business segments, especially Hotels and Holiday Packages, shows strong traction with 178% YoY growth in Q2 FY2025 (Page 3). Dubai operations are growing well, supporting international expansion plans (Page 3). Electric bus manufacturing via subsidiary YoloBus is an emerging opportunity anticipated to contribute in the next couple of years, though exact revenue impact is uncertain (Pages 10-11). Historical trends indicate better performance in Q3 and Q4 quarters due to travel sea

Future growth expectations in earnings/operating earnings/profits/EPS?

The company anticipates returning to average historical margins in coming quarters. PAT decline this quarter is mainly due to one-offs like higher marketing expenses and costs from newly acquired subsidiaries that are still scaling. Marketing expenses are expected to decrease in future quarters, which should support profitability recovery. The electric vehicle (EV) manufacturing business and hotel ventures are in early stages; their revenue/profit contribution is currently uncertain but considered promising long-term growth opportunities. Ticketing business remains the main revenue dri

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Easy Trip Planners LtdQ3 FY24Leisure Services

Easy Trip Planners Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹7.2P/E: 109.5Market Cap: ₹2.9K CrSector: Leisure Services

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→The company remains optimistic about robust growth across its wider service regions (Page 12).
→Expansion in Non-Air business segments, especially Hotels and Holiday Packages, shows strong traction with 178% YoY growth in Q2 FY2025 (Page 3).
→Dubai operations are growing well, supporting international expansion plans (Page 3).
→Electric bus manufacturing via subsidiary YoloBus is an emerging opportunity anticipated to contribute in the next couple of years, though exact revenue impact is uncertain (Pages 10-11).
→Historical trends indicate better performance in Q3 and Q4 quarters due to travel seasonality (Page 7).
→Focus continues on sustainable growth with cost controls and marketing discipline; marketing expenses expected to decrease, potentially improving profitability going forward (Page 9).
→Ticketing business will remain the major contributor for the next two years, with new segments like EV manufacturing expected to grow but not immediately sizable (Page 7).

Margin guidance

Category 3

→The company anticipates returning to average historical margins in coming quarters.
→PAT decline this quarter is mainly due to one-offs like higher marketing expenses and costs from newly acquired subsidiaries that are still scaling.
→Marketing expenses are expected to decrease in future quarters, which should support profitability recovery.
→The electric vehicle (EV) manufacturing business and hotel ventures are in early stages; their revenue/profit contribution is currently uncertain but considered promising long-term growth opportunities.
→Ticketing business remains the main revenue driver for the next 2 years, though diversification efforts may increase non-air business share.
→International operations, especially in Dubai, are beginning to break even and expected to scale profitably.
→Management maintains a positive outlook with ongoing cost controls, operational enhancements, and growth in international and non-air segments supporting sustainable long-term growth.

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Fundraise plans

Yes

→Easy Trip Planners Limited plans to invest in electric vehicle (EV) bus manufacturing.
→Capex for EV manufacturing will be funded partly from EaseMyTrip's free cash reserves (~INR 312 crores) and largely through loans from various banks and other investors.
→The hotel business in Ayodhya does not require significant capex from the company as it is an equity deal with a partner providing capital.
→No specific mention of equity fundraising or new share issuance in this call.
→Future acquisitions are possible but details remain confidential and will be disclosed when decided.

Order book

→Easy Trip Planners Limited is entering the electric bus manufacturing business through its subsidiary YoloBus.
→Initially faced challenges in procuring electric buses from suppliers, leading to plans to assemble and manufacture electric buses in-house.
→After announcing this plan, the company started receiving external orders for electric buses.
→Detailed analysis revealed a strong market opportunity, prompting plans to set up a manufacturing unit within the next couple of years.
→Exact capacity or orderbook figures for electric buses are not disclosed yet, as the business is still a work in progress.
→The company is also exploring opportunities to supply electric buses to government agencies and private companies facing shortages.
→No specific numbers available on current pending/electric bus orderbook.

Capex plans

Yes

→Easy Trip Planners Limited plans capex for electric vehicle (EV) manufacturing, specifically assembling and manufacturing electric buses through their subsidiary YoloBus.
→The EV manufacturing capex will be funded partly from EaseMyTrip’s free cash reserves (~INR 312 crore) and mostly through loans from banks and other investors.
→The electric bus manufacturing capacity and detailed capex figures are still under progress and not disclosed.
→The hotel business in Ayodhya is an equity partnership requiring minimal capex from the company, as the capital is provided by a partner.
→The company has made three acquisitions of smaller subsidiaries recently, which have increased expenses but are expected to contribute to profitability as they scale.
→No specific timelines or amounts for the electric bus capex or other strategic investments were fully detailed, indicating ongoing developments.

How does Easy Trip Planners Ltd rank vs peers in Leisure Services?

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