Financial Performance Highlights

Quarterly Results (Q2 FY27 vs Q2 FY26):

  • Operating Revenue: ₹745.4 Cr (up 152.6% from ₹295.1 Cr)
  • EBITDA: ₹153.0 Cr (up 185.4% from ₹53.6 Cr)
  • Adjusted EBITDA*: ₹169.1 Cr (up 215.4% from ₹53.6 Cr)
  • PAT: ₹74.7 Cr (up 46.5% from ₹51.0 Cr)
  • Adjusted PAT*: ₹90.8 Cr (up 78.0% from ₹51.0 Cr)
  • EBITDA Margin: 20.5% (vs 18.2%)
  • Adjusted EBITDA Margin*: 22.7% (vs 18.2%)
  • PAT Margin: 10.0% (vs 17.3%)
  • Adjusted PAT Margin*: 12.2% (vs 17.3%)

Half-Yearly Results (H1 FY27 vs H1 FY26):

  • Operating Revenue: ₹1,530.4 Cr (up 169.5% from ₹568.0 Cr)
  • EBITDA: ₹324.5 Cr (up 214.2% from ₹103.3 Cr)
  • Adjusted EBITDA*: ₹362.5 Cr (up 250.9% from ₹103.3 Cr)
  • PAT: ₹169.6 Cr (up 73.2% from ₹97.9 Cr)
  • Adjusted PAT*: ₹207.6 Cr (up 111.9% from ₹97.9 Cr)
  • EBITDA Margin: 21.2% (vs 18.2%)
  • Adjusted EBITDA Margin*: 23.7% (vs 18.2%)
  • PAT Margin: 11.1% (vs 17.2%)
  • Adjusted PAT Margin*: 13.6% (vs 17.2%)

*Adjusted for Deferred Deal Consideration related to the Sojern Acquisition, an expense to be incurred for 3 years ending Q3 FY29.

Cash Flow and Debt Position

  • Free Cash Flow for H1 FY27: ₹282.3 Cr (87.0% conversion rate)
  • Net Debt Outstanding as of September 30, 2026: ₹494.0 Cr
  • As of November 5, 2026, the company has repaid 43% of the loan taken for the Sojern acquisition

Business Performance and Operational Highlights

The YoY growth reflected the scale of the combined RateGain and Sojern platform, led by continued growth in MarTech and DaaS verticals. Margins remained healthy, reflecting operating discipline across the business.

MarTech Business Breakdown:

  • Properties business: 44.7% of MarTech revenue, grew more than 20% YoY in H1 FY27
  • Destinations business: 39.7% of MarTech revenue, grew more than 20% YoY in H1 FY27

Regional Performance:

  • In APMEA region, Q2 new sales were more than three times the year-earlier level

Customer Base:

  • The company serves over 14,000 customers globally
  • Works with 33 of the Top 40 Hotel Chains, 4 of the Top 5 Airlines, 7 of the Top 10 Car Rentals, and all leading OTAs and metasearch websites
  • Serves 25 Global Fortune 500 companies

Management Commentary

Bhanu Chopra, Founder & Managing Director:

"Our customers are operating in a market where demand keeps shifting, and they are relying on our data and AI to stay ahead of it. We remain positive about the future and focused on long-term growth. That means adding customers, deepening how much of our platform each of them uses, and extending our AI into more of their everyday work. In the second half, our priority is to bring the full RateGain and Sojern platform to more of these customers and to execute well."

Chetan Garg, Chief Financial Officer:

"Our Q2 performance reflects the progress we are making in building a stronger, more profitable business. Adjusted EBITDA grew ahead of revenue, margins remained healthy, and our earnings continued to translate into strong cash flow. This performance gives us confidence to accelerate investments in product innovation, AI and market expansion, while maintaining a disciplined approach to capital allocation. We remain focused on translating the scale of our platform into sustainable, profitable growth and long-term value creation."

Second Half FY27 Focus Areas

  • Strengthening Sojern's product, go-to-market and AI capabilities
  • Cross-sell across the base of more than 14,000 customers

Filing Details

  • Filed by: Mukesh Kumar, General Counsel, Company Secretary & Compliance Officer (Membership No.: A17925)
  • Filing Date: November 05, 2026 at 17:24:29
  • Regulation: SEBI Listing Regulations, Regulation 30