Rategain Travel Technologies Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹9,612 Cr
- P/E
- 36.78
- ROE
- 11.88%
- PEG
- 0.77
- Price to sales
- 4.11
- Debt to equity
- 0.47
- 52W high / low
- ₹990 / ₹438
- Sales growth (5Y)
- 48.70%
- EBITDA margin
- 19.67%
- Net profit margin
- 12.01%
- Promoter holding
- 48.86%
- Sales (last year)
- ₹2,336 Cr
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]
Guidance scorecard · Q1 FY27 call
What Rategain Travel Technologies Ltd's management guided
and where it ranks in IT - Software
IT - Software
RevenueQ1 FY27 call
10–20%- FY27 full-year revenue guidance revised upward to around INR 3,100 crores, signaling 70% year-on-year growth with double-digit organic growth expected.
- Organic growth target is in the 15% to 20% range in INR terms, with optimism for acceleration in Q3 and Q4 FY27 due to cross-selling and integration synergies.
- Martech business is a key growth driver, now contributing over 81% of revenue, with strong momentum from new property additions and GTM team expansion.
- Distribution business expected to show double-digit growth by fiscal year-end, driven by new product launches like Agentic ARI and RateIQ.
- Anticipation of large deals in the airline segment and further monetization of car segment product revAI to boost DaaS revenue.
2 more points from Rategain Travel Technologies Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Rategain Travel Technologies Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- RateGain focuses on reinvestment to strengthen product offerings and expand presence in key geographies, aligned with opportunities.
- The company continues to invest in product development, leveraging AI to accelerate new product launches and experimentation.
- Free cash flow generation is strong, supporting financial discipline and the capacity for strategic investments.
- Management highlights execution on integration and scaling enterprise adoption as key to durable, profitable growth rather than large capex.
2 more points from Rategain Travel Technologies Ltd's call on capex
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FundraisingQ1 FY27 call
See what Rategain Travel Technologies Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The company mentioned having a "very good size order book" on their revAI product (a product launched in the last couple of years in the car segment).
- Additionally, there is a strong pipeline and order book in the distribution business, especially with the new direct stack product for hotels.
- They have achieved almost 200% growth in their sales infrastructure in APMEA region, with large wins and a strong pipeline contributing to the order book.
2 more points from Rategain Travel Technologies Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in IT - Software
on management's own guidance
- Strong growth2
- Strong growth1
- CapitalNumbersGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
IT - Software companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹569 Cr | 34.7 | |
| 2 | 40%+ | Flat | ₹336 Cr | 7.3 | |
| 3 | CapitalNumbers | 20–40% | Up 2%+ | ₹181 Cr | 9.2 |
| 4 | 20–40% | Up 2%+ | ₹159 Cr | 11.5 | |
| 5 | 20–40% | Up 0–2% | ₹1,826 Cr | 28.5 | |
| 6 | 20–40% | Flat | ₹4,341 Cr | 84.7 |
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Pro shows every company guiding 40%+ revenue growth →Full IT - Software rankingFinancials of Rategain Travel Technologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Rategain Travel Technologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 183 | 214 | 235 | 252 | 256 | 260 | 277 | 279 | 261 | 273 | 295 | 540 | 716 |
| Expenses + | 151 | 177 | 188 | 201 | 202 | 210 | 217 | 217 | 200 | 223 | 241 | 453 | 569 |
| Operating Profit | 32 | 38 | 46 | 51 | 54 | 50 | 60 | 61 | 61 | 50 | 54 | 87 | 147 |
| OPM % | 18% | 18% | 20% | 20% | 21% | 19% | 22% | 22% | 23% | 18% | 18% | 16% | 21% |
| Other Income + | 5 | 6 | 4 | 11 | 21 | 18 | 17 | 20 | 20 | 21 | 22 | -18 | 3 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 18 |
| Depreciation | 11 | 11 | 10 | 10 | 10 | 9 | 9 | 8 | 8 | 9 | 9 | 28 | 35 |
| Profit before tax | 26 | 32 | 39 | 52 | 65 | 58 | 68 | 73 | 72 | 61 | 66 | 29 | 96 |
| Tax % | -31% | 22% | 24% | 22% | 24% | 22% | 24% | 23% | 24% | 23% | 22% | 9% | 27% |
| Net Profit + | 34 | 25 | 30 | 40 | 50 | 45 | 52 | 57 | 55 | 47 | 51 | 26 | 70 |
| EPS in Rs | 3.12 | 2.30 | 2.77 | 3.43 | 4.24 | 3.85 | 4.43 | 4.79 | 4.64 | 3.97 | 4.32 | 2.24 | 5.92 |
Financials of Rategain Travel Technologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 262 | 399 | 251 | 367 | 565 | 957 | 1,077 | 1,824 |
| Expenses + | 239 | 423 | 244 | 334 | 479 | 766 | 843 | 1,486 |
| Operating Profit | 23 | -24 | 7 | 32 | 87 | 191 | 234 | 337 |
| OPM % | 9% | -6% | 3% | 9% | 15% | 20% | 22% | 19% |
| Other Income + | 11 | 59 | 13 | 16 | 20 | 42 | 76 | 27 |
| Interest | 4 | 10 | 9 | 7 | 3 | 3 | 3 | 32 |
| Depreciation | 20 | 43 | 36 | 30 | 36 | 41 | 35 | 81 |
| Profit before tax | 9 | -18 | -25 | 11 | 67 | 189 | 272 | 252 |
| Tax % | -16% | 13% | 16% | 22% | -2% | 23% | 23% | 23% |
| Net Profit + | 11 | -20 | -29 | 8 | 68 | 145 | 209 | 194 |
| EPS in Rs | 168.40 | -306.87 | -436.20 | 0.78 | 6.31 | 12.34 | 17.70 | 16.45 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Rategain Travel Technologies Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.65 | 0.74 | 0.66 | 11 | 11 | 12 | 12 | 12 |
| Reserves | 142 | 137 | 244 | 608 | 699 | 1,439 | 1,671 | 1,994 |
| Borrowings + | 54 | 144 | 117 | 18 | 18 | 17 | 16 | 949 |
| Other Liabilities + | 87 | 116 | 78 | 140 | 208 | 255 | 198 | 605 |
| Total Liabilities | 285 | 397 | 440 | 777 | 936 | 1,722 | 1,897 | 3,560 |
| Fixed Assets + | 106 | 216 | 168 | 222 | 396 | 364 | 348 | 2,403 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 |
| Investments | 41 | 45 | 129 | 165 | 140 | 179 | 319 | 25 |
| Other Assets + | 138 | 136 | 143 | 390 | 399 | 1,177 | 1,230 | 1,133 |
| Total Assets | 285 | 397 | 440 | 777 | 936 | 1,722 | 1,897 | 3,560 |
Financials of Rategain Travel Technologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 36 | 19 | 21 | 17 | 52 | 152 | 120 | 234 |
| Cash from Investing Activity + | -3 | -111 | -81 | -276 | 16 | -566 | -38 | -1,282 |
| Cash from Financing Activity + | -6 | 73 | 93 | 240 | -2 | 581 | -2 | 836 |
| Net Cash Flow | 27 | -19 | 33 | -20 | 66 | 168 | 80 | -212 |
| Free Cash Flow | 34 | 14 | 20 | 13 | 48 | 148 | 114 | 230 |
| CFO/OP | 170% | -94% | 315% | 63% | 74% | 88% | 91% | 85% |
Financials of Rategain Travel Technologies Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 88 | 71 | 97 | 100 | 104 | 78 | 72 | 94 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 88 | 71 | 97 | 100 | 104 | 78 | 72 | 94 |
| Working Capital Days | -15 | -14 | -14 | 12 | -4 | 198 | 227 | 21 |
| ROCE % | -4% | -6% | 3% | 10% | 17% | 17% | 14% |
Guidance history
How Rategain Travel Technologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 40%+ | Up 2%+ | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
72 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +24.8% | 76% |
| Last 6 months | +34.6% | 82% |
| Last 3 months | −9.5% | 41% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Rategain Travel Technologies Ltd: 0.4 × 76 + 0.4 × 82 + 0.2 × 41 = 72.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Rategain Travel Technologies Ltd's management said in earlier quarters
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