Company and Document Details

Operational Performance Highlights

Dubai Operations

  • Q4 FY26 Gross Booking Revenue (GBR) reached ₹4,533.3 million, representing 95.7% year-on-year growth from ₹2,316.7 million in Q4 FY25.
  • This reflects sustained quarter-on-quarter growth trajectory supported by international travel recovery and operational scale-up.

Non-Air Business Segments

  • Hotel and holiday package bookings grew 95% year-on-year in Q4 FY26, increasing from 280,000 to 550,000 bookings.
  • Trains, Buses, and Others segment declined 31.8% year-on-year in Q4 FY26, with bookings decreasing from 360,000 to 240,000.

Operational Efficiency

  • Employee Benefits Expense stood at ₹1,298.0 million for FY26.
  • Other Expenses (including other expenses and payment gateway charges) were maintained at efficient levels.

Business Segments and Services

Comprehensive Travel Services: Flights, Hotels & Holidays; Train and Bus Bookings; Charter and Cruise Services; Activities; Value-added services (travel insurance, visa).

Innovation & Cost Efficiency Features: WhatsApp Bookings; AI Chatbot; Book at INR 0 (zero upfront cost hotels); Lock Price & Pay Later (up to 48 hours); ONDC Integration; EMTDESK (corporate travel platform); EMTMATE (agent empowerment platform).

Strategic Acquisitions and Expansion

Spree Hospitality Acquisition

  • Portfolio includes 53 properties with 2,222 keys across hotels, resorts, clubhouses, and guest houses.
  • Approximately 31 more properties signed and slated to begin operations soon.
  • Targets expanding to 200 properties over next five years.
  • Recorded Net Promoter Score (NPS) of 93 YTD and average channel rating of 4.8.
  • Revenues grew sixfold in last three years.

YoloBus Acquisition

  • Next-generation premium intercity mobility platform with asset-light model.
  • Annual occupancy rate over 88% with IoT-enabled systems.
  • Served over 2 million passengers to date, connecting Tier I and Tier II cities.
  • Features proprietary network planning algorithm, dynamic pricing engine, and in-house GDS.

Easy Green Mobility Launch

  • New subsidiary for electric bus manufacturing with ₹200 crore investment over 2-3 years for R&D and manufacturing plant.
  • YoloBus will serve as operating arm targeting 2,000+ electric buses by FY2028.
  • Aligns with FAME, PLI & State EV policies.
  • India's EV bus market projected to grow at 24% CAGR during 2024-2030 with projected annual demand of 125,000-150,000 EV buses in a decade.

Financial Performance (Consolidated)

Profit and Loss Statement (INR in millions)

| Particulars | FY25 | FY26 |

| Revenue from Operations | 5,873.2 | 5,357.0 |

| Other Income | 159.3 | 377.5 |

| Total Revenue | 6,032.5 | 5,734.5 |

| Employee Benefits Expense | 1,028.3 | 1,298.0 |

| Other Expenses | 3,392.0 | 4,208.0 |

| EBITDA | 1,612.2 | 228.6 |

| EBITDA % | 26.7% | 4.0% |

| Depreciation and Amortisation | 124.7 | 159.8 |

| EBIT | 1,487.5 | 68.7 |

| Finance Costs | 57.7 | 61.1 |

| PBT | 1,429.8 | 7.6 |

| Share of Profit/(Loss) of Associates | - | (17.4) |

| Total Tax Expense | 343.3 | 55.8 |

| Exceptional Items | - | 509.6 |

| Tax benefit on exceptional items | - | (99.3) |

| Profit for the year | 1,086.6 | (476.0) |

| EPS | 0.30 | (0.10) |

Note: Historical EPS does not account for share split (from ₹2 to ₹1) and bonus issue (3:1) effected on November 21, 2022.

Balance Sheet Highlights (INR in millions)

Equity and Liabilities (FY26):

  • Total Equity: 8,149.2
  • Total Non-Current Liabilities: 1,186.3
  • Total Current Liabilities: 2,748.1
  • Total Equity and Liabilities: 12,083.6

Assets (FY26):

  • Property, plant and equipment: 807.5
  • Investment Property: 166.3
  • Goodwill: 496.9
  • Intangible Assets: 451.7
  • Investments accounted using equity method: 1,123.8
  • Total Non-Current Assets: 5,256.8
  • Total Current Assets: 5,916.4
  • Assets held for sale: 910.3

Cash Flow Statement (INR in millions)

| Particulars | FY25 | FY26 |

| Operating Profit before Working Capital Changes | 1,489.5 | 50.8 |

| Changes in Working Capital | 241.3 | (979.2) |

| Cash Generated from Operations | 1,730.8 | (928.4) |

| Direct Taxes paid | (612.6) | (22.6) |

| Net Cash from Operating Activities | 1,118.2 | (951.0) |

| Cash Flow from Investing Activities | (922.7) | 488.7 |

| Cash Flow from Financing Activities | 157.8 | (97.0) |

| Net increase/(decrease) in Cash | 353.3 | (559.4) |

| Cash and Cash Equivalents at period end | 1,361.5 | 802.2 |

Management and Governance

Board of Directors:

  • Mr. Nishant Pitti - Chairman & Managing Director
  • Mr. Rikant Pitti - Director & CEO (also Chairman of CII Delhi State Council)
  • Mr. Vikas Bansal - Director (Chartered Accountant and Law graduate with 18+ years expertise)
  • Mrs. Neena Kumar - Independent Director (37+ years in Income Tax Department, former Member of CBDT)
  • Mr. Ajay Kumar Chauhan - Independent Director (IRS Retd., former DG of Competition Commission of India)
  • Mrs. Ruchi Ghanashyam - Independent Director (38+ years in Indian Foreign Service, former High Commissioner)

Corporate Social Responsibility

EaseMyTrip Foundation implements CSR initiatives focusing on:

  • Environmental sustainability
  • Protection of national heritage, art and culture
  • Healthcare sector
  • Education of Girls upliftment
  • Animal welfare
  • Training of Sports persons

Heritage Partnership: Signed MoU with Archaeological Survey of India as Smārak Sārathi for four monuments under Adopt a Heritage 2.0 programme:

  • Qutub Minar
  • Sun Temple, Konark
  • Agra Fort
  • Western Group of Temples, Khajuraho

Market Context and Digital Landscape

  • India's online travel market valued at USD 22.8 billion in 2024, projected to reach USD 36.3 billion by 2027 (17% CAGR)
  • Approximately 1,030 million internet users in India with 70% penetration rate
  • E-retail GMV reached $65-66 billion in 2025, projected to grow at >20% CAGR
  • By 2030, expected 140 million middle-income and 21 million high-income households in India