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RateGain Travel

RATEGAIN NSE
₹795.20 No trade today
P/E
38.81
View as Markdown
MCP
Close 4 Nov 2026 ₹795.20 +113.00 +16.6% 1Y
Start ₹682.20

Key Fundamentals

MicrocapIT - SoftwareInformation Technology

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
13.90%
Debt to Equity
0.47
EPS (TTM)
₹20.49
Book Value
₹169.62
Market Cap
—
P/E (TTM)
38.81
P/B
4.69
ROE
11.90%
Dividend Yield
0.00%
EBITDA
₹399 Cr
52W High
₹1,050.00
52W Low
₹437.00
Volume
0

Peer Comparison

Information Technology › Computer Software & Consulting › Computers - Software & Consulting

RateGain Travel peer comparison
TCS
₹2,436.0017.08₹8,98,480 Cr7.400.96%51.80%63.00%₹2,83,248 Cr₹51,858 Cr
Infosys
₹1,128.2014.88₹4,63,085 Cr4.862.26%31.90%40.00%₹1,89,336 Cr₹30,788 Cr
HCL Tech
₹1,405.0021.88₹3,89,601 Cr5.013.34%23.80%30.40%₹1,34,374 Cr₹17,434 Cr
Wipro
₹194.5515.21₹1,94,390 Cr2.441.01%15.50%17.80%₹94,968 Cr₹13,285 Cr
Tech Mahindra
₹1,783.0034.02₹1,76,066 Cr5.880.84%17.50%23.10%₹59,176 Cr₹5,163 Cr
LTM
₹4,204.9023.84₹1,26,067 Cr4.820.59%23.10%29.60%₹44,075 Cr₹5,197 Cr
Persistent Systems
₹6,065.0049.64₹96,188 Cr7.820.66%27.20%34.40%₹15,718 Cr₹1,922 Cr
RateGain Travel (this company)
₹795.2038.81₹9,687 Cr4.690.00%11.90%13.90%₹2,336 Cr₹242 Cr
Median 8 companies₹1,594.0022.86₹1,85,228 Cr4.940.90%23.45%30.00%₹77,072 Cr₹9,241 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
53
Average
Returns, margins, earnings quality 22% weight
Valuation
37
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
32
Poor
Solvency, leverage, coverage 9% weight
Momentum
84
Strong
Trend strength, vol-adjusted 12% weight
Ownership
62
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 54.9% CAGR over last 5 years
  • Company's working capital requirements have reduced from 147 days to 16.2 days

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 12.7% over last 3 years.
  • Promoter holding has decreased over last 3 years: -6.94%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish973
OscillatorsNeutral171
Moving AveragesStrong Bearish802

Key readings

RSI (14)
42.70
Neutral
MACD (12,26,9)
−14.31
Bullish
SMA (50)
849.91
Bearish
SMA (200)
738.89
Bullish

As of

Analyst Rating

Based on 10 analysts
BUY80%

8 of 10 analysts rate Buy, 0 Hold, 2 Sell.

As of

BUY
8
80%
HOLD
0
0%
SELL
2
20%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+48.69%
3Y+47.79%
1Y+69.36%
TTM+114.31%

Net profit

Net profit growth by window
5YTurned to profit
3Y+41.83%
1Y−7.18%
TTM+14.69%

Operating cash flow

Operating cash flow growth by window
5Y+61.96%
3Y+65.10%
1Y+95.00%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+16.12 pp
3Y+3.51 pp
1Y−2.82 pp
TTM−1.59 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹262 Cr
Mar 2020₹399 Cr
Mar 2021₹251 Cr
Mar 2022₹367 Cr
Mar 2023₹565 Cr
Mar 2024₹957 Cr
Mar 2025₹1,077 Cr
Mar 2026₹1,824 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹11.00 Cr
Mar 2020−₹20.00 Cr
Mar 2021−₹29.00 Cr
Mar 2022₹8.00 Cr
Mar 2023₹68.00 Cr
Mar 2024₹145 Cr
Mar 2025₹209 Cr
Mar 2026₹194 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹154 Cr −11.6% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

RateGain Travel Technologies is a mid-cap IT company with a market cap of ₹10,749 Cr trading at a PE of 54.7x. The company has demonstrated strong revenue growth at a 48% CAGR over 3 years and 55% profit CAGR over 5 years, but carries a relatively modest ROE of ~12-13% and pays no dividend despite consistent profitability.

Bull Case 8
  • Exceptional revenue growth with compounded sales CAGR of 48% over 3 years and 49% over 5 years, indicating strong demand for its travel technology solutions
  • Compounded profit growth of 55% CAGR over 5 years demonstrates improving profitability and operating leverage in the business
  • TTM revenue growth of 69% shows continued acceleration in top-line momentum
  • Dramatic improvement in working capital efficiency from 148 days to 21.1 days, freeing up significant cash for operations and growth
  • Stock price CAGR of 104% over 1 year reflects strong market confidence and momentum in the travel tech segment
  • 3-year stock CAGR of 25% indicates sustained wealth creation beyond short-term rallies
  • Company is expected to deliver a good quarter, suggesting near-term operational strength remains intact
  • ROE has remained consistent at 12-13% over 3 and 5 year periods, showing stable return generation as the company scales
Bear Case 7
  • PE ratio of 54.7x is elevated for a company delivering only 12-13% ROE, implying the stock prices in significant future growth that may not materialize
  • Zero dividend yield despite reporting repeated profits suggests shareholders are not being rewarded with cash returns
  • ROE of 12.8% over 3 years is low relative to the premium valuation, indicating capital is not being deployed at high-return rates
  • Promoter holding has decreased by 6.98% over last 3 years, raising questions about insider confidence at current levels
  • TTM profit growth of only 6% versus TTM sales growth of 69% indicates margin compression or rising costs eroding profitability in the most recent period
  • Company might be capitalizing interest costs, which could overstate reported profitability and asset quality
  • Sharp divergence between recent profit growth (6% TTM) and historical 5-year CAGR (55%) suggests the high-growth phase may be normalizing

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: RateGain shows steady commercial momentum with two new airline/hospitality partnerships leveraging its AI and direct booking products. There are no visible headwinds in the recent news cycle, and governance actions (leadership re-appointments, SAR grants) signal continuity. The upcoming Q1FY27 earnings call on August 6 will be the next catalyst to watch for revenue growth confirmation.

Positives 2
  • Citrus Leisure partnership for bookings Jul 16

    RateGain partnered with Citrus Leisure PLC to power direct bookings across Sri Lanka using its UNO Direct Stack, expanding its hospitality footprint in South Asia.

  • Philippine Airlines adopts AI pricing Jul 8

    Philippine Airlines implemented RateGain's AirGain AI solution tracking competitive fares across 300+ airlines and 170+ OTAs with 99.95% uptime for pricing intelligence.

Neutral 4
  • Large SAR grants to employees Jul 28

    RateGain granted a combined 469,119 SARs (402,521 on Jul 28 at ₹950 strike + 66,598 on Jul 31 at ₹644.55–₹950 strike) under its 2022 scheme with four-year vesting, a non-dilutive compensation approach.

  • Founder re-appointed CMD for 5 years Jul 31

    Bhanu Chopra re-appointed as Chairman and Managing Director for five years starting August 5, 2026, subject to shareholder approval.

  • Q1FY27 earnings call scheduled Aug 6 Jul 30

    RateGain scheduled its earnings conference call for August 6, 2026, to discuss financial and operational performance for the quarter ended June 30, 2026.

Quarterly Results

₹ Cr
RATEGAIN quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
214
235
252
256
260
277
279
261
273
295
540
716
785
Expenses
177
188
201
202
210
217
217
200
223
241
453
569
613
Operating Profit
38
46
51
54
50
60
61
61
50
54
87
147
172
OPM %
18%
20%
20%
21%
19%
22%
22%
23%
18%
18%
16%
21%
22%
Other Income
6
4
11
21
18
17
20
20
21
22
−18
3
3
Interest
0
0
0
0
0
0
0
0
0
0
12
18
17
Depreciation
11
10
10
10
9
9
8
8
9
9
28
35
38
PBT
32
39
52
65
58
68
73
72
61
66
29
96
121
Tax %
22%
24%
22%
24%
22%
24%
23%
24%
23%
22%
9%
27%
21%
Net Profit
25
30
40
50
45
52
57
55
47
51
26
70
95
EPS (₹)
2.3
2.77
3.43
4.24
3.85
4.43
4.79
4.64
3.97
4.32
2.24
5.92
8.01

Profit & Loss

₹ Cr
RATEGAIN profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
262
399
251
367
565
957
1,077
1,824
2,336
Expenses
239
423
244
334
479
766
843
1,478
1,876
Operating Profit
23
−24
7
32
87
191
234
345
459
OPM %
9%
−6%
2.9%
9%
15%
20%
22%
19%
20%
Other Income
11
59
13
16
20
42
76
27
9
Interest
4
10
9
7
3
3
3
39
48
Depreciation
20
43
36
30
36
41
35
81
110
PBT
9
−18
−25
11
67
189
272
252
311
Tax %
−16%
13%
16%
22%
−2%
23%
23%
23%
—
Net Profit
11
−20
−29
8
68
145
209
194
242
EPS (₹)
1.39
−2.54
−3.61
0.78
6.31
12.34
17.7
16.45
20.49
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
RATEGAIN balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
468
Total Liabilities
285
397
440
777
936
1,722
1,897
3,423
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
996
Total Assets
285
397
440
777
936
1,722
1,897
3,423

Cash Flow

₹ Cr
RATEGAIN cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
36
19
21
17
52
152
120
234
Investing
−3
−111
−81
−276
16
−566
−38
−1,244
Financing
−6
73
93
240
−2
581
−2
836
Net Cash Flow
27
−19
33
−20
66
168
80
−174
Free Cash Flow
34
14
20
13
48
148
114
230
CFO/EBITDA
170
−94
315
63
74
88
91
83

Ratios

RATEGAIN financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
88
71
97
100
104
78
72
94
Cash Conversion Cycle
88
71
97
100
104
78
72
94
Working Capital Days
−15
−14
−14
12
−4
198
228
16
ROCE %
—
−4%
−6%
3%
10%
17%
17%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view RateGain Travel insights

64 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 48.86%
  • DIIs 20.61%
  • Public 13.59%
  • Others 10.06%
  • FIIs 6.89%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about RateGain Travel

What does Rategain Travel Technologies Ltd do?
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.
Where is Rategain Travel Technologies Ltd (RATEGAIN) listed?
Rategain Travel Technologies Ltd trades as RATEGAIN on the NSE and under code 543417 on the BSE.
Which sector does Rategain Travel Technologies Ltd belong to?
Rategain Travel Technologies Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the PE ratio of Rategain Travel Technologies Ltd?
Rategain Travel Technologies Ltd trades at a PE ratio of 38.81 as of 4 Nov 2026, on earnings per share of ₹20.49, against a book value of ₹169.62 per share.
What is the 52-week high and low of Rategain Travel Technologies Ltd?
Over the last 52 weeks Rategain Travel Technologies Ltd has traded between ₹437 and ₹1,050 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Rategain Travel Technologies Ltd?
Rategain Travel Technologies Ltd reported a return on equity of 11.90%. Its debt-to-equity ratio is 0.47.

Company Information

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.

Website rategain.com
Listed 17 Dec 2021
Face Value ₹1

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