Makemytrip (MY1) AI Stock Analysis

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Makemytrip

(Frankfurt:MY1)

Rating:―N/A

Action:N/A

Date:―

No summary available

Positive Factors

Diversified non-air growthThe rising non-air mix reduces reliance on air ticketing and broadens MakeMyTrip’s earnings base across hotels, buses and ancillary services. These businesses delivered strong growth and margins, supporting more resilient revenue generation when air volumes or fares are pressured.

Negative Factors

Negative equity and balance-sheet stressNegative equity materially reduces balance-sheet flexibility and makes the company more exposed to operating setbacks or changes in financing conditions. High debt relative to assets can also constrain capital allocation, leaving fewer resources available for investment or cushioning weaker periods.

Makemytrip (MY1) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 4.97B
Dividend Yield: ―
Average Volume (3M): 209
Price to Earnings (P/E): 150.9
Beta (1Y): 1.09
Revenue Growth: 0.06%
EPS Growth: -40.57%
Country: Germany
Employees: 5,507
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Travel Services

Makemytrip Business Overview & Revenue Model

Company Description

MakeMyTrip Limited operates as a prominent online travel platform, offering a wide array of travel products and solutions across an extensive global footprint, including India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirate...

Makemytrip Earnings Call Summary

Earnings Call Date:Oct 26, 2026(Q2-2027)|% Change Since:15.49%|Next Earnings Date:Jan 28, 2027

Earnings Call SentimentPositive

The call was predominantly positive. The company reported 20.9% constant-currency gross bookings growth, strong profitability, broad-based gains in hotels, buses, ancillaries, corporate travel, and AI engagement, while maintaining domestic air market share. These strengths outweighed the stated challenges from geopolitical conditions, high airfares, constrained air capacity, currency translation, and a modest decline in operating margin.

Positive Updates

Strong Gross Bookings and Operating Profit Growth

Q2 gross bookings reached $2.7 billion, growing 20.9% year-on-year in constant currency, while adjusted operating profit was $46.2 million, up 13.8% year-on-year in constant currency.

Negative Updates

Air Travel Industry Faced Significant Macro Headwinds

The West Asia conflict, inflationary pressures from high ATF prices, and INR depreciation weighed on both international and domestic air travel demand.

Company Guidance

Management said its longer-term view of India remains unchanged, while the near-term environment calls for careful execution alongside continued investment; intercity cabs are growing “upwards of 40% year-on-year,” although on a small base, and the company expects bus momentum to continue in the coming quarters in line with the upcoming festive demand, alongside a gradual shift towards higher quality buses with enhanced amenities. Management said it expects the gap between air-ticket revenue and processing cost to narrow as fares and volume normalize, supporting a resumption of margin expansion, and that if travel conditions ease and demand returns more comprehensively with air contributing to growth, there is an opportunity for greater customer-acquisition efficiency and further profitability improvement. The company remains prepared for the India IPO, with timing subject to regulatory approvals and market conditions; its confidential filing is “almost valid for 18 months.”

Makemytrip Risk Analysis

Makemytrip disclosed 60 risk factors in its most recent earnings report. Makemytrip reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

3 New Risks

1.Our significant shareholder may have interests that are different from or conflict with the interests of our other shareholders.Q1, 2026

2.The trading price for our ordinary shares is highly volatile.Q1, 2026

3.Failure to protect our intellectual property rights could adversely affect our business and our brand.Q1, 2026

Makemytrip Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

DE:MY1 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ABNB	83Outperform	$110.59B	33.42	38.94%	―	16.46%	26.60%
EXPE	74Outperform	$30.46B	14.84	178.52%	0.71%	12.92%	57.34%
TCOM	73Outperform	$29.02B	8.18	14.59%	―	18.08%	35.16%
BKNG	64Neutral	$118.44B	17.25	-80.90%	1.03%	8.01%	50.34%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
YTRA	59Neutral	$56.95M	41.31	3.79%	―	3.53%	-701.92%

* Consumer Cyclical Sector Average

Performance Comparison

DE:MY1 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:MY1	Makemytrip Limited	46.45	-20.01	-30.11%
TCOM	Trip.com Group Ltd. Sponsored ADR	43.61	-30.91	-41.48%
EXPE	Expedia	259.79	-5.59	-2.11%
BKNG	Booking Holdings	160.21	-40.97	-20.37%
YTRA	Yatra	0.83	-0.84	-50.30%
ABNB	Airbnb, Inc.	181.13	59.94	49.46%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Makemytrip AI Stock Analysis