Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
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Mkt Cap
Market Capitalization
₹1,729Cr
Rev Gr TTM
Revenue Growth TTM
2.24%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

ACCELYA
VS
| Quarter | Jun 2023 | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 18.8 | 10.4 | 11.2 | 9.7 | 4.6 | -0.1 | 6.8 | 4.3 | 2.8 | 7.1 | -0.2 | -0.5 |
| 73 | 79 | 79 | 81 | 80 | 79 | 85 | 90 | 81 | 88 | 88 | 102 |
Operating Profit Operating ProfitCr |
| 40.2 | 38.0 | 36.3 | 38.4 | 37.2 | 38.2 | 36.2 | 33.9 | 38.9 | 35.6 | 33.7 | 25.3 |
Other Income Other IncomeCr | 3 | 2 | 3 | -31 | 3 | 3 | 3 | 3 | 3 | 3 | -9 | 12 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
Depreciation DepreciationCr | 8 | 8 | 7 | 7 | 8 | 8 | 6 | 6 | 8 | 9 | 14 | 15 |
| 44 | 42 | 40 | 12 | 42 | 44 | 44 | 42 | 46 | 40 | 19 | 30 |
| 11 | 11 | 9 | 12 | 11 | 11 | 11 | 11 | 12 | 10 | 5 | 8 |
|
Growth YoY PAT Growth YoY% | 27.6 | -4.8 | 22.7 | -99.5 | -2.9 | 3.0 | 4.6 | 15,025.0 | 8.8 | -8.8 | -56.9 | -29.3 |
| 26.2 | 24.8 | 24.8 | 0.1 | 24.4 | 25.5 | 24.3 | 22.1 | 25.8 | 21.7 | 10.5 | 15.7 |
| 21.5 | 21.1 | 20.7 | 0.1 | 20.9 | 21.8 | 21.7 | 20.3 | 22.7 | 19.8 | 9.3 | 14.3 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2026 |
|---|
|
| -4.4 | 12.6 | 7.8 | 4.1 | 13.2 | -4.8 | -29.5 | 26.9 | 27.4 | 8.9 | 3.4 | 1.5 |
| 188 | 209 | 223 | 233 | 263 | 260 | 205 | 234 | 284 | 319 | 334 | 358 |
Operating Profit Operating ProfitCr |
| 37.9 | 38.8 | 39.3 | 39.0 | 39.2 | 37.0 | 29.5 | 36.4 | 39.5 | 37.7 | 36.8 | 33.3 |
Other Income Other IncomeCr | 6 | 9 | 20 | 3 | 9 | 6 | 11 | 8 | 21 | -24 | 12 | 8 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 6 | 4 | 3 | 2 | 2 | 3 | 8 |
Depreciation DepreciationCr | 13 | 13 | 14 | 14 | 17 | 32 | 34 | 35 | 34 | 31 | 28 | 46 |
| 107 | 128 | 150 | 138 | 162 | 120 | 58 | 103 | 170 | 136 | 175 | 134 |
| 39 | 45 | 53 | 49 | 56 | 34 | 16 | 27 | 44 | 42 | 46 | 35 |
|
| -19.7 | 23.2 | 17.1 | -8.3 | 19.3 | -18.4 | -51.4 | 80.5 | 66.3 | -25.9 | 37.5 | -23.4 |
| 22.3 | 24.4 | 26.5 | 23.3 | 24.6 | 21.1 | 14.5 | 20.7 | 27.0 | 18.4 | 24.4 | 18.4 |
| 45.1 | 55.6 | 65.2 | 59.7 | 71.3 | 58.2 | 28.3 | 51.0 | 84.9 | 62.9 | 86.4 | 66.2 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Dec 2025 |
|---|
Equity Capital Equity CapitalCr | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 100 | 98 | 166 | 165 | 183 | 230 | 224 | 248 | 255 | 268 | 263 | 248 |
Current Liabilities Current LiabilitiesCr | 89 | 97 | 60 | 69 | 72 | 80 | 71 | 73 | 89 | 89 | 106 | 144 |
Non Current Liabilities Non Current LiabilitiesCr | 6 | 7 | 7 | 7 | 4 | 45 | 34 | 19 | 10 | 39 | 65 | 54 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 123 | 126 | 170 | 168 | 182 | 205 | 191 | 230 | 255 | 311 | 313 | 275 |
Non Current Assets Non Current AssetsCr | 88 | 91 | 78 | 87 | 92 | 165 | 152 | 125 | 114 | 101 | 137 | 187 |
Total Assets Total AssetsCr |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 66 | 80 | 93 | 111 | 87 | 131 | 87 | 118 | 133 | 156 | 145 |
Investing Cash Flow Investing Cash FlowCr | -8 | -7 | -26 | -14 | -3 | -61 | -11 | -73 | 13 | -66 | -8 |
Financing Cash Flow Financing Cash FlowCr | -57 | -69 | -73 | -94 | -86 | -53 | -66 | -64 | -132 | -94 | -146 |
|
Free Cash Flow Free Cash FlowCr | 58 | 59 | 82 | 91 | 62 | 84 | 68 | 101 | 133 | 153 | 139 |
| 98.3 | 96.3 | 95.2 | 124.8 | 81.7 | 150.8 | 205.3 | 155.2 | 105.3 | 166.4 | 112.0 |
CFO To EBITDA CFO To EBITDA% | 57.7 | 60.5 | 64.1 | 74.5 | 51.2 | 85.8 | 101.3 | 88.1 | 72.0 | 81.1 | 74.4 |
| Financial Year | Jun 2015 | Jun 2016 | Jun 2017 | Jun 2018 | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 1,488 | 1,701 | 1,974 | 1,742 | 1,291 | 1,372 | 1,739 | 1,315 | 1,976 | 2,581 | 2,115 |
Price To Earnings Price To Earnings | 25.6 | 24.5 | 21.0 | 19.5 | 12.1 | 15.8 | 41.2 | 17.3 | 15.6 | 27.5 | 16.4 |
Price To Sales Price To Sales | 4.9 | 5.0 | 5.4 | 4.5 | 3.0 | 3.3 | 6.0 | 3.6 | 4.2 | 5.0 | 4.0 |
Price To Book Price To Book | 12.9 | 15.0 | 10.9 | 9.7 | 6.5 | 5.6 | 7.3 | 5.0 | 7.3 | 9.1 | 7.6 |
| 12.8 | 12.7 | 13.5 | 11.5 | 7.5 | 8.9 | 20.2 | 9.5 | 10.4 | 13.0 | 10.8 |
Profitability Ratios Profitability Ratios |
| 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| 37.9 | 38.8 | 39.3 | 39.0 | 39.2 | 37.0 | 29.5 | 36.4 | 39.5 | 37.7 | 36.8 |
| 22.3 | 24.4 | 26.5 | 23.3 | 24.6 | 21.1 | 14.5 | 20.7 | 27.0 | 18.4 | 24.4 |
| 93.2 | 113.0 | 83.1 | 77.0 | 82.0 | 42.8 | 22.4 | 37.1 | 60.6 | 43.6 | 52.4 |
| 58.6 | 73.4 | 53.7 | 49.7 | 53.9 | 35.5 | 17.7 | 29.0 | 46.9 | 33.2 | 46.5 |
| 32.0 | 38.2 | 39.3 | 35.0 | 38.9 | 23.5 | 12.3 | 21.5 | 34.3 | 22.8 | 28.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Accelya Solutions India Ltd is a key operating entity within the global Accelya Group, a leading provider of technology platforms, software, and services to the travel and transport industry. With over **40 years of industry experience**, Accelya has evolved into a mission-critical technology partner for more than **250 airlines worldwide**, supporting end-to-end processes across the air travel lifecycle—from **offer creation to financial settlement**.
Backed by **Vista Equity Partners** since late 2019, Accelya has strategically expanded its capabilities through innovation and acquisitions, most notably **Farelogix** in 2020, positioning itself at the forefront of airline digital transformation.
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### **Core Business & Value Proposition**
Accelya delivers modular, scalable, and **GDS-neutral** technology solutions tailored to critical airline functions:
- **Commercial Planning & Sales Optimization**
- **NDC (New Distribution Capability) & Retailing**
- **Financial Reconciliation & Settlement**
- **Revenue Assurance & Cost Management**
- **Air Cargo & Business Intelligence**
Its solutions are organized around the **Offer–Order–Settle lifecycle**, aligning with IATA’s modern retailing standards such as **NDC and ONE Order**. Accelya leverages deep domain expertise and access to vast industry data (processing **over $100 billion in annual airline revenue**) to reduce operational friction and enable data-driven decision-making.
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### **Key Highlights (2024–2025)**
#### **Technology Leadership in Modern Airline Retailing**
- Processes **over 50% of global NDC transactions**, making it the **market leader in NDC commerce**.
- Platform supports **350,000 offers per second**, reflecting high scalability and performance.
- Offers **end-to-end NDC readiness**, with certification under IATA standards (v19.2, v21.3).
- Invests in advanced capabilities: **Dynamic Pricing, Bundling, One Order integration, and API-driven Product Integration**.
#### **Product Innovation**
- Launched **FLX Order Accounting** (Oct 2024), a next-generation financial platform built on **Amazon Web Services (AWS)**.
- Unifies order-to-settlement workflows.
- Reduces manual errors, enhances real-time financial visibility.
- Uses **AI and machine learning** for accurate revenue recognition and financial assurance.
#### **Strategic Alignment with Industry Standards**
- Acts as a **neutral, independent platform provider**, not affiliated with any airline or GDS.
- Strategically aligned with **IATA’s NDC and ONE Order initiatives**, enabling seamless transition for airlines adopting new retailing models.
- Manages IATA’s **SIS (Settlement System)** and **Neutral Fare Proration (NFP)**, underscoring its central role in global aviation infrastructure.
#### **Global Presence & Operations**
- Operates in **11 countries**, with over **2,500 professionals globally**.
- **Accelya Solutions India Ltd** headquartered in **Pune, India**, with additional offices in **Mumbai and other locations**; employs approximately **1,300 staff in India**, serving as a major delivery and innovation hub.
- Maintains **three Centers of Excellence in India**, including audit, data analytics, and managed services.
#### **Financial & Commercial Model**
- **~80% recurring revenue**, largely transaction-based, providing stable, annuity-like income.
- Serves high-profile clients including **American Airlines, Qantas, Air India, Etihad, and LATAM**.
- Revenue model reduces customer capex through **pay-per-use, hosted, and outsourced delivery models** (via Accelya Managed Services - AMS).
- High switching costs and long-term contracts (3–5 years) result in **low churn and strong customer retention**.
#### **Market Position & Growth Strategy**
- Holds **#1 market share** in multiple segments: **Revenue Management, Cargo Solutions, and Audit Services**.
- Second-largest global provider in **Revenue Accounting**, behind only in-house systems.
- Expanded Total Addressable Market (TAM) by **$1.8 billion** post-Farelogix acquisition, unlocking growth in **Offer & Order Management** and **Schedule Planning**.
- Focuses on:
- Cross-selling and upselling to existing customers.
- Driving commercial excellence through restructured global sales force.
- Replacing legacy airline systems with modern, integrated platforms.
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### **Recent Strategic Developments**
- **Integration of Farelogix (completed 2020–2021)**:
- Created the **first independent, end-to-end Offer-to-Settlement platform**.
- Enables airlines to bypass traditional GDS channels, reducing distribution costs by up to **50%**.
- Enhances digital retailing, personalized offers, and dynamic bundling.
- **Refund Platform Modernization**:
- Upgrading refund processing using **new APIs from PSS providers**.
- Centralized refund handling via call centers and AMS, critical during high-demand periods like the post-pandemic recovery.
- **Revenue Assurance & Cost Management**:
- Provides **audit services across full ticket lifecycle**, including Agent Debit Memo recovery.
- Solutions automate **procure-to-pay cycles**, reduce supplier overpayments, and optimize fuel and ground handling costs.
- **Data & Analytics Leadership**:
- Processes **700 million Passenger Name Records (PNRs)** annually.
- Offers proprietary analytics platforms: **ADAP (Analytics & Data Access Platform)** and **APAP (Airline Performance Analytics Platform)**.
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### **Corporate & Governance**
- **Parent Company**: Accelya Group
- **Ownership**: Backed by **Vista Equity Partners**, enabling strategic investments and long-term growth.
- **India Operations**: Core delivery engine for global solutions; strategic importance in R&D, managed services, and audit functions.
- **Leadership**: Led globally by **Jim Davidson**, President & Chief Strategy Officer (former CEO of Farelogix), driving commercial and technological vision.
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