Rategain Travel Technologies Ltd logo

Rategain Travel Technologies Ltd

RATEGAIN NSE

Key Fundamentals

MicrocapComputer Software & ConsultingInformation Technology
Market Cap
₹11,118 Cr
Volatility
Moderate
P/E Ratio
45.68
EBITDA
₹303 Cr
Return on Equity
12.42%
Debt to Equity
0.47
Book Value
₹169.33
EPS
₹14.07
52W High
₹1,050
52W Low
₹437

Insights

Beta

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

Log in to view Rategain Travel Technologies Ltd insights

53 extracted metrics + investor summaries across FY19–FY26.

Log in — free

Tapetide Score

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

Technical Indicators

Key Insights

Strengths

3
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 55.1% CAGR over last 5 years
  • Company's working capital requirements have reduced from 148 days to 21.1 days

Weaknesses

4
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 12.8% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -6.98%

Growth Rate

Revenue Growth
58.16% ↗
Net Income Growth
-6.66% ↘
Cash Flow Change
-20.97% ↘
ROE
23.95% ↘
ROCE
24.65% ↗
EBITDA Margin (Avg.)
-39.93% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
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 8
  • 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
  • Price-to-book ratio of 5.3x is relatively high, leaving limited margin of safety if growth slows
  • 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

Anthropic anthropic claude-opus-4.6 15d ago
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.

  • Independent director re-appointed Jul 10

    Aditi Gupta re-appointed as Non-Executive Independent Director for a second five-year term effective July 15, 2026, subject to shareholder approval.

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.

Quarterly Results

  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 in Rs
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
Figures in ₹ Crores

Profit & Loss

  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
1,486
1,876
Operating Profit
23
-24
7
32
87
191
234
337
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
32
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 in Rs
168
-307
-436
0.78
6.31
12.34
17.7
16.45
20.49
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  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
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
Figures in ₹ Crores

Cash Flow

  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
-1,282
Financing
-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
Figures in ₹ Crores

Ratios

  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
227
21
ROCE %
—
-4%
-6%
3%
10%
17%
17%
14%

Shareholding Pattern

As of Jun 2026
Promoters 48.78%
DIIs 20.86%
Public 13.59%
Others 11.01%
FIIs 5.76%
Total 100.00%
  Aug 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Nov 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
83.82%
56.58%
56.29%
55.91%
55.82%
55.79%
55.76%
55.76%
55.72%
51.28%
51.27%
51.25%
48.25%
48.22%
48.22%
48.17%
48.16%
48.16%
48.55%
48.77%
48.78%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
8.67%
10.49%
9.54%
10.21%
8.27%
7.60%
5.50%
5.49%
4.97%
5.35%
5.76%
DIIs
0.00%
6.26%
6.93%
6.99%
8.03%
14.22%
14.65%
17.78%
16.74%
17.35%
18.78%
17.32%
21.66%
20.56%
22.61%
23.00%
23.55%
21.58%
20.62%
20.86%
20.86%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
7.60%
8.09%
8.93%
8.69%
8.38%
7.20%
8.09%
8.39%
8.04%
9.49%
9.41%
10.63%
11.13%
10.90%
11.73%
13.14%
13.91%
15.07%
14.54%
13.59%
Others
16.18%
29.56%
28.70%
28.18%
27.46%
21.61%
22.38%
18.36%
19.15%
23.33%
11.80%
11.53%
9.92%
9.89%
10.00%
9.49%
9.65%
10.86%
10.79%
10.48%
11.01%
No. of Shareholders
7
90,669
69,018
68,790
70,652
68,004
60,625
63,387
59,795
60,538
69,427
71,332
86,940
90,105
92,639
90,468
96,390
90,199
92,599
92,900
90,004

Documents

Frequently Asked Questions about Rategain Travel Technologies Ltd

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. The firm offers travel and hospitality services across different verticals like hotels, airlines, online ...
Where is Rategain Travel Technologies Ltd (RATEGAIN) listed?
Rategain Travel Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: RATEGAIN and BSE: 543417. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Rategain Travel Technologies Ltd belong to?
Rategain Travel Technologies Ltd operates in the Information Technology sector within the Computer Software & Consulting industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Rategain Travel Technologies Ltd?
Rategain Travel Technologies Ltd has a market capitalisation of approximately ₹11117.79 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Rategain Travel Technologies Ltd?
The Price-to-Earnings (PE) ratio of Rategain Travel Technologies Ltd is 45.68. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Rategain Travel Technologies Ltd?
Over the past 52 weeks, Rategain Travel Technologies Ltd has traded between a low of ₹437 and a high of ₹1,050. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Rategain Travel Technologies Ltd?
Rategain Travel Technologies Ltd has a Return on Equity (ROE) of 12.42%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Rategain Travel Technologies Ltd on Tapetide?
On Tapetide, you can view Rategain Travel Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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.[1]

Website rategain.com
Listed 2021-12-17
Face Value ₹ 1
Issued Size 11,81,02,036

Explore More

More in Information Technology → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List