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Rategain Travel Technologies Ltd

RATEGAIN
NSE
581.05
1.25%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Rategain Travel Technologies Ltd

RATEGAIN
NSE
581.05
1.25%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
6,866Cr
Close
Close Price
581.05
Industry
Industry
IT Product Companies
PE
Price To Earnings
38.25
PS
Price To Sales
5.02
Revenue
Revenue
1,369Cr
Rev Gr TTM
Revenue Growth TTM
27.70%
PAT Gr TTM
PAT Growth TTM
-12.22%
Peer Comparison
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
183214235252256260277279261273295540
Growth YoY
Revenue Growth YoY%
69.679.888.482.239.821.218.110.61.95.06.493.8
Expenses
ExpensesCr
151177188201202210217217200223241453
Operating Profit
Operating ProfitCr
323846515450606161505487
OPM
OPM%
17.617.619.820.321.219.121.722.123.218.218.216.1
Other Income
Other IncomeCr
5641121181720202122-18
Interest Expense
Interest ExpenseCr
0000000000012
Depreciation
DepreciationCr
111110101099889928
PBT
PBTCr
263239526558697372616629
Tax
TaxCr
-87912151316171814152
PAT
PATCr
342530405045525755475126
Growth YoY
PAT Growth YoY%
191.0195.8131.8205.548.082.273.839.99.63.4-2.3-53.2
NPM
NPM%
18.511.612.816.019.617.418.820.321.017.217.34.9
EPS
EPS
3.12.32.83.64.33.94.44.84.74.04.32.2

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
2623992513675659571,0771,369
Growth
Revenue Growth%
52.4-37.146.254.269.312.527.1
Expenses
ExpensesCr
2404242453364807678451,118
Operating Profit
Operating ProfitCr
22-2563185190232251
OPM
OPM%
8.3-6.32.58.315.019.821.618.3
Other Income
Other IncomeCr
1159131620427645
Interest Expense
Interest ExpenseCr
398521113
Depreciation
DepreciationCr
2043363036413554
PBT
PBTCr
9-18-251167189272228
Tax
TaxCr
-2242-1436349
PAT
PATCr
11-20-29868145209179
Growth
PAT Growth%
-282.2-42.1129.5712.5112.643.7-14.2
NPM
NPM%
4.2-5.0-11.42.312.115.219.413.1
EPS
EPS
1.2-2.3-3.10.86.313.017.715.2

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
1111111121212
Reserves
ReservesCr
1421372446086991,4441,6761,805
Current Liabilities
Current LiabilitiesCr
9311791130193248193213
Non Current Liabilities
Non Current LiabilitiesCr
491421043242332928
Total Liabilities
Total LiabilitiesCr
2853974407819451,7311,9042,058
Current Assets
Current AssetsCr
1681712675285051,3131,4141,580
Non Current Assets
Non Current AssetsCr
117226173253441418490478
Total Assets
Total AssetsCr
2853974407819451,7311,9042,058

Cash Flow

Consolidated
Standalone
Financial YearMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
3619211752152120
Investing Cash Flow
Investing Cash FlowCr
-3-112-82-29513-568-45
Financing Cash Flow
Financing Cash FlowCr
-67393240-2581-2
Net Cash Flow
Net Cash FlowCr
27-2032-386316573
Free Cash Flow
Free Cash FlowCr
3414201348148114
CFO To PAT
CFO To PAT%
328.2-95.2-72.1199.675.9104.457.4
CFO To EBITDA
CFO To EBITDA%
166.4-76.4334.455.061.380.051.7

Ratios

Consolidated
Standalone
Financial YearMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
0003,5863,7168,4375,251
Price To Earnings
Price To Earnings
0.00.00.0428.454.458.025.1
Price To Sales
Price To Sales
0.00.00.09.86.68.84.9
Price To Book
Price To Book
0.00.00.05.85.25.83.1
EV To EBITDA
EV To EBITDA
0.4-4.29.7109.941.742.521.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0
OPM
OPM%
8.3-6.32.58.315.019.821.6
NPM
NPM%
4.2-5.0-11.42.312.115.219.4
ROCE
ROCE%
6.4-3.3-4.52.59.412.916.1
ROE
ROE%
7.7-14.6-11.71.49.610.012.4
ROA
ROA%
3.9-5.1-6.51.17.28.411.0
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Company Overview** Rategain Travel Technologies Ltd is a global leader in **AI-powered SaaS solutions** for the **travel and hospitality industry**, headquartered in India. Founded in 2004, the company serves over **3,200 customers and 700 partners across more than 100 countries**, including **26 of the top 30 hotel chains**, **25 of the top 30 OTAs**, **3 of the top 4 airlines**, and **15–16 Fortune 500 companies**. Rategain is recognized as the largest SaaS provider in India’s hospitality technology sector and one of the world’s largest processors of electronic travel transactions, pricing data, and travel intent data. The company is driving intelligent revenue growth through a unified platform focused on **guest acquisition, retention, and wallet share expansion**, leveraging AI across its core business segments: **Data-as-a-Service (DaaS)**, **Marketing Technology (Martech)**, and **Distribution**. --- ### **Strategic Growth & Financial Highlights (H1 FY26) – November 2025** - **Martech Segment**: Achieved **14.1% YoY revenue growth**, reinforcing its position as the highest-performing segment. In H1 FY26, it contributed **48.2% of total revenue**, up from previous fiscal years. - **DaaS Segment**: Grew **3.7% YoY**, with **organic DaaS revenue accelerating to 12.0%** (vs. 5.9% in Q1 FY26), signaling strong momentum in data intelligence services. - **Distribution Segment**: Declined by **10.6% YoY**, affected by short-term OTA channel changes, though distribution transaction volumes still grew by **21% YoY** in FY25 due to new client wins. - **Revenue Mix (9MFY25)**: Martech (48.2%), DaaS (31.9%), Distribution (19.9%). --- ### **Product & Platform Innovation (2025)** Rategain continues to lead in AI-driven innovation, launching cutting-edge tools that transform revenue operations for travel companies: #### **1. AI-Powered Booking & Conversational Commerce** - **Industry’s First MCP Integration (Model Context Protocol)**: Launched in Nov 2025, this allows **AI assistants (e.g., ChatGPT, Claude)** to access live hotel rates, availability, and booking capabilities — enabling travelers to book directly within AI chat interfaces without redirects. - **UNO Booking Engine AI**: Makes hotel inventory AI-discoverable and AI-bookable, increasing direct booking conversions and reducing drop-off. #### **2. AirGain Platform (Airlines Focus)** - **AirGain VUE Dashboard**: A next-gen pricing intelligence platform with real-time competitive insights, fare evolution analytics, and demand tracking. Now integrated with **AirGain Price Parity**, offering unified monitoring. - **AI-Powered Route Performance Digest**: Delivers prioritized route-level pricing insights to airline revenue teams, enabling proactive response to market shifts. - **Recent Airline Partners (2025)**: - **Tigerair Taiwan** (Asia expansion) - **Air Astana Group** (Central Asia leader) - **Sky Airline (Chile)**, **Cyprus Airways**, **Nok Air (Thailand)**, **Vietjet Thailand**, **TAAG Angola Airlines**, **Tunisair**, **Sunrise Airways**, and **TezJet (Kyrgyzstan)**. - **Integration with Sales Agents**: Partnerships with **Summerwind GSA**, **Best Airlines Rep**, and **Profitroom** to extend AirGain’s pricing insights to over **20 international carriers**. #### **3. UNO Platform (Hospitality Hub)** - **UNO Suite**: An AI-first, integrated platform combining: - Channel Manager (UNO Channel Manager) - Central Reservation System (CRS) - Booking Engine - **UNO VIVA**: AI-powered voice agent for reservation handling in **18+ languages** — launched Q2 2025. - **Oracle OPERA Cloud Integration**: Deep integration allows hotels to manage global distribution seamlessly via RateGain’s network of 400+ demand partners. - **Clients Adopted**: **Royal Orchid Hotels**, **ICONIQA Hotels & Resorts**, **Kamat Hotels (India)**, **Caesars Entertainment**, **GHL Hoteles**, and **Posadas (Mexico)**. #### **4. Rev-AI (Car Rental Revenue Optimization)** - AI-powered dynamic pricing and demand forecasting platform. - **Proven Results**: - **Payless Costa Rica**: 21% bookings growth, 94% forecast accuracy. - **Budget Car & Truck Rental (Calgary)**: $1 million incremental revenue, 15,000 rate updates/hour. - **Green Motion International**: Deployed across franchise network for hyper-local demand forecasting. - Adopted by **Malco Enterprises**, **Green Motion South Africa** (51.8% revenue growth), and **largest Budget Group franchise in the U.S.** #### **5. SoHo – Social for Hospitality** - Launched in **Oct 2025**, this AI-powered platform turns **social media engagement into measurable revenue**. - Addresses key traveler behavior trends (62% influenced by online content, 72% by influencers). - Integrates content creation, publishing, influencer marketing, and reputation management into a command center for guest-led journeys. --- ### **Strategic Partnerships & Integrations (2025)** - **FLYR Hospitality**: Integration allows FLYR’s RMS users to access RateGain’s **Navigator rate intelligence** — combining real-time data with AI revenue optimization. - **HotelIQ**: Rategain’s **Navigator** now embedded directly into HotelIQ’s BI platform for seamless rate shopping within the same workflow. - **Profitroom**: Joint integration connects hoteliers to **400+ demand partners** with **Smart ARI** ensuring rate accuracy, reducing overbookings. - **Cloudbeds**: Partnership to simplify hotel distribution and enhance automation for independent and mid-size properties. - **TCA PMS (Latin America)**: Expanded regional footprint by integrating with TCA’s Inssit PMS, supporting faster time-to-market. --- ### **Expansion & Market Positioning** - **Global Reach**: Active in key regions including **Asia, Middle East, Africa, Europe, North America, and Latin America**. - **OTA Integration Leadership**: Recognized as **Preferred Partner by Trip.com** — the only tech provider with top-level status across all major OTAs. - **Adara (Travel Intent Platform)**: - Powers targeted marketing for **Visit California**, achieving **223x aggregate ROI**, including **3200x for San Francisco Travel Association**. - Used by **DMOs**, airlines, and luxury retailers to improve audience segmentation and ad performance. - **Cloud Migration**: Fully migrated DaaS and Distribution platforms to **AWS and Google Cloud** — enhancing scalability, performance, and disaster recovery. --- ### **M&A & Strategic Acquisitions** Rategain is executing an aggressive inorganic growth strategy to build a unified AI-powered platform: - **Sojern Inc. (Oct 2025)**: Definitive agreement to acquire the AI-led marketing tech company, strengthening guest engagement and acquisition capabilities. - **Adara (2023)**: Gave access to **ethical, permissioned travel intent data** from 270+ partners, enhancing personalization and marketing ROI. - **Myhotelshop GmbH (2021)**, **BCV Social (2019)**, **DHISCO (2018)**: Expanded Martech, social media analytics, and distribution capabilities. - **RateGain Technologies Japan GK (Dec 2023)**: Strengthened APAC presence. --- ### **Technology & Operational Excellence** - **AI-First Culture**: AI embedded across product development, customer onboarding, support, and implementation. - **Product Modernization**: Upgraded tech stack with **Java 17**, **Angular 18**, **.NET 8.0**, **React → Next.js**, and **server-side tracking** for GDPR compliance. - **Smart ARI**: AI filters redundant rate data, reducing OTA infrastructure load by **30%** and improving accuracy. - **Connectivity Insights & UNO VIVA**: Solving data fragmentation with unified dashboards and voice-powered CRM. --- ### **Thought Leadership & Executive Moves** - **Mr. Singh** appointed **Chief Customer Officer (Sep 2025)** to lead customer delivery, AI-enabled implementations, and churn reduction. - **Peter Strebel** named **President – Americas (Aug 2023)** to drive enterprise growth in North America. - **Michel Taride** (ex-Hertz) joined as **Board Advisor (Jan 2024)** to guide car rental solutions including Rev-AI.