Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or planned new fundraising through debt or equity in the provided text. The company has received advances from business partners like ITQ (a GDS) and agents, which are reflected as contract liabilities; these are not classified as debt or equity fundraising but as advances in their B2B business. The focus seems to be on growing GMV by more than 50% in the current year while maintaining profitability. The company is also investing significantly in growth, as indicated by the increase in employees and marketing expenses. Any inorganic growth or acquisi

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

EaseMyTrip has made inorganic acquisitions recently, such as YoloBus and a hotel segment company (Spree Hospitality), which are integrated as subsidiaries, contributing to increased employee count and operational scale. The company is actively exploring acquisition opportunities both domestically and overseas as part of its growth strategy. There are ongoing efforts to expand overseas business, with a focus on leveraging technology and higher average ticket sizes in international markets. Investment in technology and operational efficiency is highlighted, with the technology team size increasi

Future growth expectations in sales/revenue/volumes?

Expectation to grow Gross Booking Revenue (GBR) by more than 50% in the coming year, likely exceeding this target. Growth from INR 3,700 Crores to INR 8,000 Crores GBR in FY2023, far surpassing earlier guidance of INR 6,500 Crores. Stable take rate expected between 8.2% and 8.7% going forward. Air segment grew 62.2% in FY2023, selling 1.15 Crores air tickets, up from 70.9 lakhs in FY2022. Overseas business, e.g., Dubai market growing well, expected to scale from INR 118 Crores to INR 700-800 Crores in the next 2 years. Focus on profitable growth rather than rapid market share gain at a loss, t

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

The company anticipates growing its Gross Booking Revenue (GBR) by 50% in the current year, possibly exceeding this target. Profit margins are expected to be maintained between 1.5% and 2%, balancing growth and profitability. EBITDA margins are projected to improve to about 45-46%, a normalization from the exceptional 58% seen during the COVID year. The PAT grew by 26.6% in FY2023, and a similar or better growth is expected alongside the GBR growth. Employee costs are expected to stabilize due to team strength, while marketing costs will remain around 0.9% to 1% of GMV to support growt

Current/ Expected Orderbook/ Pending Orders?

The company indicated an expected orderbook (Gross Booking Revenue, GBR) of INR 6,500 Crores earlier but has already crossed INR 8,000 Crores. For the current year, they anticipate growing GBR by 50%, with potential to exceed that figure. Profitability and profit margins are expected to be maintained between 1.5% and 2% while achieving this growth. The focus remains on sustaining similar profitability levels alongside aggressive GBR growth.

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Easy Trip Planners LtdQ1 FY23Leisure Services

Easy Trip Planners Ltd Q1 FY23 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 1

Margin

Category 2

Fundraise

N/A

Order

N/A

Capex

Yes

2 of 3 growth signals are positive.

Full analysis

Revenue guidance

Category 1

→Expectation to grow Gross Booking Revenue (GBR) by more than 50% in the coming year, likely exceeding this target.
→Growth from INR 3,700 Crores to INR 8,000 Crores GBR in FY2023, far surpassing earlier guidance of INR 6,500 Crores.
→Stable take rate expected between 8.2% and 8.7% going forward.
→Air segment grew 62.2% in FY2023, selling 1.15 Crores air tickets, up from 70.9 lakhs in FY2022.
→Overseas business, e.g., Dubai market growing well, expected to scale from INR 118 Crores to INR 700-800 Crores in the next 2 years.
→Focus on profitable growth rather than rapid market share gain at a loss, targeting journey of 3 years to become number one travel portal in India.
→Expect operating margins (EBITDA) to stabilize around 45-46% following exceptional COVID year performance.

Margin guidance

Category 2

→The company anticipates growing its Gross Booking Revenue (GBR) by 50% in the current year, possibly exceeding this target.
→Profit margins are expected to be maintained between 1.5% and 2%, balancing growth and profitability.
→EBITDA margins are projected to improve to about 45-46%, a normalization from the exceptional 58% seen during the COVID year.
→The PAT grew by 26.6% in FY2023, and a similar or better growth is expected alongside the GBR growth.
→Employee costs are expected to stabilize due to team strength, while marketing costs will remain around 0.9% to 1% of GMV to support growth.
→The company focuses on sustainable growth while maintaining profitability, evident from doubling GBR from INR 3700 Crores to over INR 8000 Crores recently.
→Stable take rates around 8.2% to 8.7% are assumed to continue, supporting steady revenue growth.

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Fundraise plans

→There is no explicit mention of any current or planned new fundraising through debt or equity in the provided text.
→The company has received advances from business partners like ITQ (a GDS) and agents, which are reflected as contract liabilities; these are not classified as debt or equity fundraising but as advances in their B2B business.
→The focus seems to be on growing GMV by more than 50% in the current year while maintaining profitability.
→The company is also investing significantly in growth, as indicated by the increase in employees and marketing expenses.
→Any inorganic growth or acquisitions, including overseas expansions, are being considered but no specific fundraising for these purposes is disclosed.
→Overall, no direct information on raising new debt or equity financing is given in the document excerpts.

Order book

→The company indicated an expected orderbook (Gross Booking Revenue, GBR) of INR 6,500 Crores earlier but has already crossed INR 8,000 Crores.
→For the current year, they anticipate growing GBR by 50%, with potential to exceed that figure.
→Profitability and profit margins are expected to be maintained between 1.5% and 2% while achieving this growth.
→The focus remains on sustaining similar profitability levels alongside aggressive GBR growth.

Capex plans

Yes

→EaseMyTrip has made inorganic acquisitions recently, such as YoloBus and a hotel segment company (Spree Hospitality), which are integrated as subsidiaries, contributing to increased employee count and operational scale.
→The company is actively exploring acquisition opportunities both domestically and overseas as part of its growth strategy.
→There are ongoing efforts to expand overseas business, with a focus on leveraging technology and higher average ticket sizes in international markets.
→Investment in technology and operational efficiency is highlighted, with the technology team size increasing from 70 to 120 employees.
→Physical presence is being expanded selectively, e.g., opening the first physical holiday store in Patna to grow the holiday business, which currently remains offline-heavy.
→Marketing investments are expected to continue around 0.9% to 1% of GMV to fuel growth.
→Employee costs are expected to stabilize or reduce in the coming years despite past growth due to acquisitions and scaling.

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

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