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Yatra Online Limited
(YATRA)
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Rating:61Neutral
Price Target:
₹120.00
▼(-30.48% Downside)
Action:Reiterated
Date:08/26/26
The score is driven primarily by improving fundamentals (profitability turnaround and a materially de-risked balance sheet), supported by a constructive but risk-aware earnings outlook. This is tempered by demand/revenue volatility and mixed technicals (still below the 200-day average), while a high P/E and no stated dividend yield constrain the valuation component.
Positive Factors
Improving Profitability and Operating Leverage
Strong FY26 growth in revenue, gross margin and adjusted EBITDA indicates better operating leverage and a healthier earnings base. If maintained, these improvements can support more durable profitability as booking volumes scale.
Negative Factors
Volatile Revenue and Demand Trends
The sharp shift from strong annual growth to declining FY2026 revenue highlights sensitivity to travel demand and mix. Continued volatility could make margins, earnings visibility and management’s medium-term growth targets harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability and Operating Leverage
Strong FY26 growth in revenue, gross margin and adjusted EBITDA indicates better operating leverage and a healthier earnings base. If maintained, these improvements can support more durable profitability as booking volumes scale.
Read all positive factors
Yatra Online Limited (YATRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹17.82B
Dividend YieldN/A
Average Volume (3M)162.25K
Price to Earnings (P/E)57.3
Beta (1Y)1.96
Revenue Growth9.34%
EPS Growth-35.80%
CountryIN
Employees1,233
SectorGeneral
Sector StrengthN/A
IndustryTravel Services
Share Statistics
EPS (TTM)2.98
Shares Outstanding156,916,200
10 Day Avg. Volume136,889
30 Day Avg. Volume162,249
Financial Highlights & Ratios
PEG Ratio1.11
Price to Book (P/B)1.71
Price to Sales (P/S)1.41
P/FCF Ratio19.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.15
Revenue Forecast (FY)₹11.99B
Yatra Online Limited Business Overview & Revenue Model
Company Description
Yatra Online Limited provides reservation and booking services related to transport, travel, tours, and tourism in India and internationally. It offers flight reservation, hotel booking and holiday packages, ground transportation, train and bus ti...
How the Company Makes Money
Yatra Online Limited primarily makes money by earning revenue from facilitating travel bookings and providing travel-related services through its online platforms. Key revenue streams typically include: (1) transaction-based income from air ticket...
Yatra Online Limited Earnings Call Summary
Earnings Call Date:May 22, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 14, 2026
Earnings Call Sentiment Positive
The call highlights a strong full-year operational and financial performance — double-digit top-line growth, expanded gross margins, and a 64% increase in adjusted EBITDA — driven by air and hotel momentum, corporate customer wins and scalable API-led distribution. However, the quarter was materially affected by geopolitical headwinds that caused a 14% Q4 revenue decline, significant Q4 EBITDA weakness and cancellations/deferrals in MICE and international corporate travel. Management points to early signs of recovery (Q1 run rates ~20% above Q4) and a confident medium-term outlook (20% RLSC CAGR and ~30% adjusted EBITDA CAGR), indicating the positives outweigh the near-term disruptions.Positive Updates
Record Full-Year Revenue Growth
FY26 revenue from operations grew 27% year-over-year to INR 10,074 million (~$107M), marking the company's strongest full-year top-line performance in its 20-year history.
Negative Updates
Q4 Revenue Decline
Q4 FY26 consolidated revenue from operations declined 14% year-over-year to INR 1,890 million (~$20M), reflecting near-term softness versus the full-year strength.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Full-Year Revenue Growth
FY26 revenue from operations grew 27% year-over-year to INR 10,074 million (~$107M), marking the company's strongest full-year top-line performance in its 20-year history.
Read all positive updates
Company Guidance
Management guided to a confident medium‑term trajectory, targeting a 20% CAGR in revenue less service costs (RLSC) and roughly 30% CAGR in adjusted EBITDA, expecting H2 FY27 to be materially stronger than H1 with Q1 run‑rates ~20% above Q4; they pointed to strong corporate momentum (163 new corporate customers in FY26 with INR 9,568m/~$102m annual billable value, 55 new clients in Q4 with INR 2,709m/~$29m potential vs 40 clients/INR 2,234m/~$24m in Q3, and retention ~97% while online penetration in managed corporate travel remains <25%), and reinforced that core operating metrics provide runway for growth—FY26 revenue from operations +27% to INR 10,074m (~$107m), RLSC +22.6% to INR 4,801m, adjusted EBITDA +64% to INR 564m (~$6m); segment highlights include air TTV +12% to INR 61,874m with air margin improving from ~3.42% to ~3.96%, hotels TTV +27% to INR 16,578m with Q4 room nights +36% (FY room nights +16% to 1,936,000) and hotel gross margin to INR 1,502m (9.25%), Q4 gross bookings +8%, air passenger volumes +9.6%, total transactions +15.2%, and cash/term deposits INR 2,512m (~$26.7m); management expects deferred MICE/international bookings to return as geopolitics normalize and highlighted AI, automation, API distribution and Google Cloud as margin‑accretive enablers.Yatra Online Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.07B | 7.91B | 4.22B | 3.49B | 1.98B |
| Gross Profit | 2.74B | 2.08B | 994.00M | 1.16B | 680.50M |
| EBITDA | 1.02B | 762.48M | 406.60M | 538.67M | 38.58M |
| Net Income | 468.10M | 365.74M | -45.10M | 76.34M | -307.86M |
Balance Sheet | |||||
| Total Assets | 13.36B | 13.23B | 12.17B | 6.81B | 5.48B |
| Cash, Cash Equivalents and Short-Term Investments | 2.36B | 1.86B | 4.02B | 1.02B | 1.24B |
| Total Debt | 1.03B | 784.01M | 853.90M | 1.78B | 628.18M |
| Total Liabilities | 5.06B | 5.40B | 4.70B | 5.12B | 4.47B |
| Stockholders Equity | 8.30B | 7.84B | 7.47B | 1.70B | 1.01B |
Cash Flow | |||||
| Free Cash Flow | 745.61M | -830.70M | -1.69B | -1.68B | -934.24M |
| Operating Cash Flow | 785.11M | -768.09M | -1.42B | -1.53B | -833.86M |
| Investing Cash Flow | -531.85M | 776.31M | -2.34B | -166.74M | -84.45M |
| Financing Cash Flow | -485.80M | -979.65M | 4.66B | 1.38B | 200.81M |
Yatra Online Limited Technical Analysis
Positive
172.60
Price Trends
111.35
Positive
108.38
Positive
127.70
Negative
Market Momentum
0.59
Positive
52.83
Neutral
64.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:YATRA, the sentiment is Positive. The current price of 172.6 is above the 20-day moving average (MA) of 113.18, above the 50-day MA of 111.35, and above the 200-day MA of 127.70, indicating a neutral trend. The MACD of 0.59 indicates Positive momentum. The RSI at 52.83 is Neutral, neither overbought nor oversold. The STOCH value of 64.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:YATRA.
Yatra Online Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹20.89B | 5.02 | ― | 0.60% | 22.41% | 194.35% | |
69 Neutral | ₹182.89B | 67.99 | ― | ― | 68.93% | 13.94% | |
65 Neutral | ₹52.64B | 23.81 | ― | 0.45% | -4.26% | -13.11% | |
61 Neutral | ₹17.82B | 57.27 | ― | ― | 9.34% | -35.80% | |
57 Neutral | ₹23.96B | 37.52 | ― | 0.45% | 10.04% | -35.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹23.95B | -42.89 | ― | 2.37% | 1.48% | -166.91% |
* General Sector Average
IN:YATRA
Yatra Online Limited
113.55
-47.60
-29.54%
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Yatra Online Limited Corporate Events
Yatra Online Schedules Q1 FY27 Earnings Call for Investors
Aug 10, 2026
Yatra Online Limited has scheduled an earnings conference call to discuss its financial results for the quarter ended June 30, 2026, with senior management including the executive chairperson, chief executive officer and chief financial officer pa...
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.