Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹112, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 29x in the Hospitality industry in India. Total returns to shareholders of 25% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹54.41 per share. Price Target Changed • May 26
Price target decreased by 10% to ₹188 Down from ₹209, the current price target is an average from 5 analysts. New target price is 86% above last closing price of ₹101. Stock is down 4.8% over the past year. The company is forecast to post earnings per share of ₹5.58 for next year compared to ₹2.98 last year. Reported Earnings • May 24
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹2.98 (up from ₹2.33 in FY 2025). Revenue: ₹10.3b (up 30% from FY 2025). Net income: ₹468.1m (up 28% from FY 2025). Profit margin: 4.5% (down from 4.6% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.2%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Hospitality industry in India. Annonce • May 19
Yatra Online Limited to Report Q4, 2026 Results on May 22, 2026 Yatra Online Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 22, 2026 Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹123, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 28x in the Hospitality industry in India. Total returns to shareholders of 46% over the past year. Price Target Changed • Mar 16
Price target decreased by 7.8% to ₹209 Down from ₹227, the current price target is an average from 5 analysts. New target price is 110% above last closing price of ₹99.80. Stock is up 44% over the past year. The company is forecast to post earnings per share of ₹3.94 for next year compared to ₹2.33 last year. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₹117, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 32x in the Hospitality industry in India. Total returns to shareholders of 52% over the past year. Reported Earnings • Feb 12
Third quarter 2026 earnings released: EPS: ₹0.53 (vs ₹0.64 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.53 (down from ₹0.64 in 3Q 2025). Revenue: ₹2.62b (up 11% from 3Q 2025). Net income: ₹83.4m (down 17% from 3Q 2025). Profit margin: 3.2% (down from 4.3% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Hospitality industry in India. Annonce • Feb 03
Yatra Online Limited to Report Q3, 2026 Results on Feb 11, 2026 Yatra Online Limited announced that they will report Q3, 2026 results on Feb 11, 2026 Major Estimate Revision • Nov 18
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from ₹9.36b to ₹11.1b. EPS estimate increased from ₹4.15 to ₹4.28 per share. Net income forecast to grow 47% next year vs 47% growth forecast for Hospitality industry in India. Consensus price target up from ₹176 to ₹222. Share price rose 14% to ₹189 over the past week. Board Change • Nov 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Anup Wadhawan was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 13
Price target increased by 19% to ₹210 Up from ₹176, the current price target is an average from 5 analysts. New target price is 10.0% above last closing price of ₹191. Stock is up 72% over the past year. The company is forecast to post earnings per share of ₹4.30 for next year compared to ₹2.33 last year. Reported Earnings • Nov 12
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹0.91 (up from ₹0.46 in 2Q 2025). Revenue: ₹3.56b (up 51% from 2Q 2025). Net income: ₹142.8m (up 96% from 2Q 2025). Profit margin: 4.0% (up from 3.1% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 52%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Hospitality industry in India. Annonce • Nov 03
Yatra Online Limited to Report Q2, 2026 Results on Nov 11, 2025 Yatra Online Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Price Target Changed • Oct 09
Price target increased by 8.0% to ₹176 Up from ₹163, the current price target is an average from 5 analysts. New target price is 8.8% above last closing price of ₹162. Stock is up 30% over the past year. The company is forecast to post earnings per share of ₹4.15 for next year compared to ₹2.33 last year. Annonce • Sep 01
Yatra Online Limited, Annual General Meeting, Sep 25, 2025 Yatra Online Limited, Annual General Meeting, Sep 25, 2025, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹142, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 39x in the Hospitality industry in India. Total returns to shareholders of 10% over the past year. Major Estimate Revision • Aug 15
Consensus EPS estimates increase by 29%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from ₹9.91b to ₹9.35b. EPS estimate rose from ₹3.23 to ₹4.16. Net income forecast to grow 47% next year vs 50% growth forecast for Hospitality industry in India. Consensus price target up from ₹130 to ₹159. Share price rose 48% to ₹142 over the past week. Price Target Changed • Aug 12
Price target increased by 9.1% to ₹142 Up from ₹130, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹137. Stock is up 3.6% over the past year. The company is forecast to post earnings per share of ₹3.57 for next year compared to ₹2.33 last year. New Risk • Aug 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 09
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: ₹1.02 (up from ₹0.26 in 1Q 2025). Revenue: ₹2.15b (up 114% from 1Q 2025). Net income: ₹160.0m (up 296% from 1Q 2025). Profit margin: 7.4% (up from 4.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) exceeded analyst estimates by 89%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in India. Annonce • Aug 01
Yatra Online Limited to Report Q1, 2026 Results on Aug 08, 2025 Yatra Online Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Major Estimate Revision • Jun 05
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹11.3b to ₹9.91b. EPS estimate fell from ₹3.68 to ₹3.23 per share. Net income forecast to grow 39% next year vs 43% growth forecast for Hospitality industry in India. Consensus price target broadly unchanged at ₹130. Share price fell 7.5% to ₹96.41 over the past week. New Risk • May 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • May 30
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹2.33 (up from ₹0.33 loss in FY 2024). Revenue: ₹8.23b (up 95% from FY 2024). Net income: ₹365.7m (up ₹410.8m from FY 2024). Profit margin: 4.4% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Hospitality industry in India. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹95.50, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 45x in the Hospitality industry in India. Total loss to shareholders of 34% over the past year. Annonce • Apr 11
Yatra Online Limited Appoints Anuj Kumar Sethi as an Interim Chief Financial Officer, Effective from April 11, 2025 Yatra Online Limited announced intimation dated March 12, 2025, regarding the resignation of Mr. Rohan Purshottamdas Mittal as the Group Chief Financial Officer and Key Managerial Personnel of the Company, with effect from such date as may be mutually decided with the Company. The company inform that the Mr. Mittal has ceased to be the Group Chief Financial Officer and Key Managerial Personnel of the Company with effect from April 10, 2025. At its board meeting held on April 11, 2025 which commenced at 05:31 P.M. and concluded at 05:45 P.M., considered and approved the appointment of Mr. Anuj Kumar Sethi, based upon the recommendation of the Nomination and Remuneration Committee and Audit Committee, as an Interim Chief Financial Officer ("CFO") and Key Managerial Personnel ("KMP") of the Company with immediate effect from April 11, 2025 pursuant to the provisions of Section 203 of the Companies Act, 2013, till the time new CFO is appointed by the Board. Mr. Sethi has completed his course from the Institute of Cost and Works Accountants of India and he has served as Chief Financial Officer of the Company in his earlier stint as well and has also served the Company for more than a decade in the senior finance and accounts role. Further, in his earlier employment he was associated with Airfreight Limited. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹77.59, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 42x in the Hospitality industry in India. Total loss to shareholders of 46% over the past year. Annonce • Mar 12
Yatra Online Limited Announces Resignation of Rohan Purshottamdas Mittal as Group Chief Financial Officer Yatra Online Limited announced the resignation letter dated March 10, 2025, of Mr. Rohan Purshottamdas Mittal as the Group Chief Financial Officer and Key Managerial Personnel of the Company. Date of cessation: The last working day will be decided as per mutual discussion with the Company to ensure a smooth handover/transition. Price Target Changed • Feb 16
Price target decreased by 11% to ₹131 Down from ₹146, the current price target is an average from 5 analysts. New target price is 54% above last closing price of ₹84.79. Stock is down 50% over the past year. The company is forecast to post earnings per share of ₹2.29 next year compared to a net loss per share of ₹0.33 last year. Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹0.64 (vs ₹0.07 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.64 (up from ₹0.07 in 3Q 2024). Revenue: ₹2.41b (up 119% from 3Q 2024). Net income: ₹100.1m (up ₹89.5m from 3Q 2024). Profit margin: 4.1% (up from 1.0% in 3Q 2024). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in India. Buy Or Sell Opportunity • Jan 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₹106. The fair value is estimated to be ₹134, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 120% in 2 years. Earnings are forecast to grow by 337% in the next 2 years. Annonce • Dec 30
Yatra Online Limited Announces Resignation of Neelam Dhawan as Non - Executive Director, Effective January 20, 2025 Yatra online Limited announced that Ms. Neelam Dhawan vide her letter dated December 30, 2024 has submitted her resignation as a Non - Executive Director of the Company with effect from close of business hours on January 20, 2025, due to her other professional commitments. Consequently, her membership in various Committees of the Board of Directors of the Company will also cease with the cessation of Directorship in the Company. Buy Or Sell Opportunity • Nov 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to ₹105. The fair value is estimated to be ₹135, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 93% in 2 years. Earnings are forecast to grow by 379% in the next 2 years. Price Target Changed • Nov 15
Price target decreased by 9.3% to ₹145 Down from ₹160, the current price target is an average from 5 analysts. New target price is 31% above last closing price of ₹111. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₹3.40 next year compared to a net loss per share of ₹0.33 last year. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹0.46 (vs ₹1.48 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.46 (up from ₹1.48 loss in 2Q 2024). Revenue: ₹2.44b (up 160% from 2Q 2024). Net income: ₹73.0m (up ₹244.3m from 2Q 2024). Profit margin: 3.0% (up from net loss in 2Q 2024). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in India. Annonce • Sep 12
Yatra Online Limited (NSEI:YATRA) completed the acquisition of Globe All India Services Limited from Ramkrishna Forgings Limited (NSEI:RKFORGE) for INR 1.3 billion. Yatra Online Limited (NSEI:YATRA) entered into a definitive agreement to acquire Globe All India Services Limited from Ramkrishna Forgings Limited (NSEI:RKFORGE) for INR 1.3 billion on September 2, 2024. A cash consideration of INR 1.28 billion will be paid by Yatra Online Limited, after net debt and working capital adjustments. The Acquisition is expected to close within three months from the date of execution of the SPA, subject to certain closing actions and satisfaction of the conditions precedent as specified in the SPA. As of March 31, 2024, Globe All India Services Limited had a revenue of INR 2.5 billion.
With annual gross bookings of USD 90 million and Adjusted EBITDA margins of over 20%, this acquisition is expected to be immediately accretive to Yatra’s financials, with further potential for margin expansion as synergies are realized. Given that the majority of Globe Travel’s business is currently offline, this acquisition presents a strategic opportunity to integrate Yatra’s Corporate Self Booking Platform in to Globe Travel’s customer base, thereby enhancing synergies and driving further value creation. Moreover, Globe Travel’s corporate clients are expected to benefit from increased efficiencies and reduced costs through Yatra’s digital platform. Khaitan & Co. acted as legal advisor to Ramkrishna Forgings Limited (NSEI:RKFORGE)
Yatra Online Limited (NSEI:YATRA) completed the acquisition of Globe All India Services Limited from Ramkrishna Forgings Limited (NSEI:RKFORGE) on September 11, 2024. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: ₹0.26 (vs ₹0.48 loss in 1Q 2024) First quarter 2025 results: EPS: ₹0.26 (up from ₹0.48 loss in 1Q 2024). Revenue: ₹1.09b (up 6.8% from 1Q 2024). Net income: ₹40.4m (up ₹96.1m from 1Q 2024). Profit margin: 3.7% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in India. Annonce • Aug 05
Yatra Online Limited to Report Q1, 2025 Results on Aug 12, 2024 Yatra Online Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Buy Or Sell Opportunity • Jul 30
Now 23% overvalued Over the last 90 days, the stock has fallen 7.4% to ₹138. The fair value is estimated to be ₹111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company became loss making. Annonce • Jun 20
Yatra Online Limited (NSEI:YATRA) agreed to acquire an additional 49% stake in Adventure and Nature Network Private Limited from joint venture partner for INR 9.8 million. Yatra Online Limited (NSEI:YATRA) agreed to acquire an additional 49% stake in Adventure and Nature Network Private Limited from joint venture partner for INR 9.8 million on June 19, 2024. A cash consideration of INR 9.8 million will be paid by Yatra Online Limited. . Upon completion, Yatra Online Limited will own 99% stake in Adventure and Nature Network Private Limited. Reported Earnings • Jun 04
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: ₹0.33 loss per share (down from ₹0.68 profit in FY 2023). Revenue: ₹4.48b (up 18% from FY 2023). Net loss: ₹45.1m (down 159% from profit in FY 2023). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in India. Annonce • May 24
Yatra Online Limited to Report Q4, 2024 Results on May 30, 2024 Yatra Online Limited announced that they will report Q4, 2024 results on May 30, 2024 Annonce • May 09
Yatra Online Limited Appoints Anup Wadhawan as an Independent Director Yatra Online Limited announced that the appointment of Dr. Anup Wadhawan as an Independent Director has been approved by the shareholders of the Company through Postal Ballot. The voting results were announced by the Company. The Board of Directors at its meeting held on March 19, 2024 approved the Postal Ballot Notice to seek approval of the shareholders of the Company for the appointment of Dr. Wadhawan as an Independent Director effective April 01, 2024 for a term of three years i.e. from April 01, 2024 to March 31, 2027 through Postal Ballot. Annonce • Apr 04
Yatra Online Limited Appoints Anup Wadhawan as Independent Director Yatra Online Inc. through its Indian subsidiary Yatra Online Ltd. has appointed Anup Wadhawan as an independent director. Wadhawan’s appointment is effective April 1 and for a tenure of three years, the online travel company said in a statement on Wednesday. Wadhawan holds over 40 years of experience in international trade, finance, development administration, public administration, academics, international development organisations, the private sector, arbitration and conciliation, and policymaking experience at the national level in commerce and finance, and at the provincial level in urban development, forest and environment, rural development, law and order, land revenue administration, education, and annual expenditure planning. Wadhawan is also serving as an independent director in companies such as Cred Avenue Securities, Bajaj Allianz General Insurance, and Bajaj Allianz Life Insurance. He is also an advisory board member of Association of Small & Medium Knowledge Industries (ASMKI), GoodGovern, a corporate governance entity. Annonce • Mar 07
Yatra Online Appoints Gaurav Luthra as Chief Business Officer - New Business Development Yatra Online brought on board Gaurav Luthra as chief business officer - new business development, said a statement issued today. He will be responsible for building and further enhancing Yatra’s mid-market and SME corporate travel proposition and developing new products such as visa facilitation and car rentals for business travellers, thereby delivering financial growth for the company. He has previously worked as managing director of FCM Travel. Reported Earnings • Feb 15
Third quarter 2024 earnings released Third quarter 2024 results: EPS: ₹0.07. Net income: ₹10.6m (up ₹10.6m from 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in India. Board Change • Feb 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Deepa Harris was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Feb 09
Yatra Online Limited to Report Q3, 2024 Results on Feb 14, 2024 Yatra Online Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Annonce • Feb 08
Yatra Online Limited Announces Resignation of Ajay Narayan Jha, Non-Executive, Independent Director Yatra Online Limited announced that Mr. Ajay Narayan Jha vide his letter dated February 08, 2024 has submitted his resignation as a Non-Executive, Independent Director of the company with effect from close of business hours on February 08, 2024, due to his appointment as a Member of the Sixteenth Finance Commission by the President of India vide Ministry of Finance (Department of Economic Affairs) Notification S.O. 369(E) dated January 30, 2024. The date of cessation is February 08, 2024 (effective from close of business hours). Names of listed entities in which the resigning director holds directorships, indicating the category of directorship and membership of board committees, if any: Directorship & Category: India Shelter Finance Corporation Limited (Independent Director) and JK Cements Limited (Independent Director). Committee: India Shelter Finance Corporation Limited- Corporate Social Responsibility Committee; Stakeholders Relationship Committee; Risk Management Committee. JK Cements Limited- Audit Committee; Nomination & Remuneration Committee; Corporate Social Responsibility Committee. Reported Earnings • Nov 16
Second quarter 2024 earnings released: ₹1.48 loss per share (vs ₹0.14 loss in 2Q 2023) Second quarter 2024 results: ₹1.48 loss per share (further deteriorated from ₹0.14 loss in 2Q 2023). Revenue: ₹973.6m (up 8.4% from 2Q 2023). Net loss: ₹171.3m (loss widened ₹155.7m from 2Q 2023). Annonce • Nov 01
Yatra Online Limited to Report Q2, 2024 Results on Nov 14, 2023 Yatra Online Limited announced that they will report Q2, 2024 results on Nov 14, 2023 Annonce • Oct 06
Yatra Online Limited to Report Q1, 2024 Results on Oct 16, 2023 Yatra Online Limited announced that they will report Q1, 2024 results on Oct 16, 2023 
