RateGain Travel Technologies Ltd.

•

rategain.comBSE: 543417NSE: RATEGAIN

Market Cap₹ 9,976 Cr.

Current Price

High / Low₹ 1,050 / 437

Stock P/E273.4

Book Value₹ 119

Price to Book3.68

Dividend Yield0.00 %

ROCE5.0 %

ROE3.6 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company has delivered good profit growth of 65.1% CAGR over last 5 years
Company is almost debt free
Company has delivered good sales growth of 29.7% CAGR over last 5 years
Working capital cycle has improved - days down from 1567 to 158

CONS

Recent results are weak - TTM profit is down 69.0% versus prior year
A large part of profit comes from other income (65.1% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 6.2%
Company has a low return on equity of 4.6% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.01x)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	TCS	2209.00	16.05	799235.53	4.98	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1035.00	13.87	420027.06	4.64	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1226.55	19.10	332844.59	4.40	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1502.25	28.67	147240.59	3.39	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4403.10	24.97	130605.33	1.70	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11623.00	29.66	101216.72	3.44	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5390.00	44.21	85027.25	0.74	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1846.90	46.57	81813.62	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2311.65	23.10	44125.99	2.68	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3360.55	27.01	35647.89	1.73	357.10	12.97	2940.10	11.47	27.70	18.65
12.	RATEGAIN	841.65	41.16	9976.32	0.00	949.10	1922.29	7850.12	2776.40	12.63	21.85

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	38	39	47	49	49	49	53	58	59	64	63	64	68
	37	41	37	42	46	45	45	40	52	54	55	53	65
Operating Profit	1	-2	9	7	4	4	8	18	7	9	8	11	4
OPM %	3.80%	-4.87%	19.90%	14.17%	7.95%	7.61%	15.11%	31.23%	11.45%	14.47%	12.02%	16.90%	5.16%
	6	9	14	18	16	16	18	19	19	19	-4	6	2
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	0	1	1	1	1	1	1	1	1	1	1
Profit before Tax	7	6	23	24	19	19	25	36	24	27	2	15	6
Tax %	25.50%	26.51%	26.08%	26.37%	24.30%	27.70%	28.92%	24.96%	25.22%	25.23%	83.04%	22.84%	25.86%
Net Profit	5	4	17	18	14	13	18	27	18	20	0	12	4
	0.48	0.38	1.48	1.52	1.21	1.14	1.51	2.26	1.53	1.72	0.02	0.99	0.36

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	77	88	90	68	73	113	173	210	249	258
	70	92	93	73	95	122	157	176	214	227
Operating Profit	8	-5	-3	-5	-22	-8	16	34	34	31
OPM %	9.70%	-5.22%	-3.11%	-7.56%	-30.21%	-7.28%	9.19%	16.19%	13.83%	12.02%
	2	19	15	17	30	22	48	69	40	23
Interest	0	0	1	1	1	2	1	1	1	1
Depreciation	3	3	5	5	4	3	3	4	5	5
Profit before Tax	6	11	7	6	3	8	59	98	68	50
Tax %	30.56%	6.24%	4.66%	35.42%	36.85%	31.05%	26.17%	26.37%	26.14%	26.56%
Net Profit	5	10	6	4	2	6	44	72	50	36
EPS	59.18	139.48	0.71	0.43	0.18	0.53	3.72	6.11	4.26	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 30%
3 Years:: 30%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 65%
3 Years:: 106%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 14%
1 Year:: 36%

RETURN ON EQUITY

10 Years:: —
5 Years:: 3%
3 Years:: 5%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1	1	1	1	11	11	12	12	12
	107	117	127	234	612	635	1,264	1,344	1,397
	0	0	25	3	13	12	12	10	9
Trade Payables	1	3	6	6	22	5	5	8	15
	37	55	33	73	66	59	91	92	76
Total Liabilities	146	176	191	317	724	722	1,383	1,466	1,509
	8	6	14	9	18	16	15	18	16
	96	110	123	214	360	336	527	667	1,343
	0	0	0	0	0	0	55	71	105
Cash & Bank	7	8	8	11	220	112	189	24	9
	35	51	46	82	126	257	597	686	36
Total Assets	146	176	191	317	724	722	1,383	1,466	1,509

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12	1	8	5	20	-17	-6	-0	8
Cash from Investing	-7	1	-3	-103	-375	21	-523	-43	-19
Cash from Financing	0	0	-2	101	358	0	583	-0	-2
	0	0	2	3	1	2	54	-43	-13

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	48.25	48.22	48.22	48.17	48.16	48.16	48.55	48.77	48.78
	9.54	10.21	8.27	7.60	5.51	5.49	4.97	5.35	5.75
	21.66	20.56	22.61	23.00	23.54	21.58	20.62	20.86	20.86
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	20.55	21.02	20.90	21.23	22.79	24.77	25.86	25.02	24.61

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Press Release

2026-09-10 - Rategain Travel Technologies Limited has informed the Exchange regarding a press release dated September 10, 2026, titled "Press Release on RateGain s UNO Channel Manager Wins Trip.com Favoured ConnectivityPartner Recognition for the Third Consecutive Year ".

2026-09-03

Allotment of Securities

2026-09-03 - Rategain Travel Technologies Limited has informed the Exchange regarding allotment of 69870 securities pursuant to ESOP/ESPS at its meeting held on September 03, 2026

2026-08-27

Press Release

2026-08-27 - Rategain Travel Technologies Limited has informed the Exchange regarding a press release dated August 27, 2026, titled "Press Release on RateGain Recognized for Building Future-Ready Skills at People Matters Infini-T Awards India 2026 ".

2026-08-25

Copy of Newspaper Publication

2026-08-25 - Rategain Travel Technologies Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-24

Resignation of Director/KMP/SMP

2026-08-24 - Rategain Travel Technologies Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-24

Press Release

2026-08-24 - Rategain Travel Technologies Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Appointment of New CHRO".

2026-08-24

Change in Management

2026-08-24 - Rategain Travel Technologies Limited has informed the Exchange about change in Management

2026-08-20

General Updates

2026-08-20 - Rategain Travel Technologies Limited has informed the Exchange about General Updates

2026-08-19

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Rategain Travel Technologies Limited has informed the Exchange about Schedule of meet

News

Recent coverage and analyst commentary for RATEGAIN

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RateGain Travel Technologies Ltd.

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Free 5nance Account

Name

TCS

2209.00

16.05

799235.53

4.98

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1035.00

13.87

420027.06

4.64

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1226.55

19.10

332844.59

4.40

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

167.50

12.55

165902.38

6.57

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1502.25

28.67

147240.59

3.39

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4403.10

24.97

130605.33

1.70

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

11623.00

29.66

101216.72

3.44

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5390.00

44.21

85027.25

0.74

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1846.90

46.57

81813.62

0.86

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2311.65

23.10

44125.99

2.68

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3360.55

27.01

35647.89

1.73

357.10

12.97

2940.10

11.47

27.70

18.65

RATEGAIN

841.65

41.16

9976.32

0.00

949.10

1922.29

7850.12

2776.40

12.63

21.85

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-2

OPM %

3.80%

-4.87%

19.90%

14.17%

7.95%

7.61%

15.11%

31.23%

11.45%

14.47%

12.02%

16.90%

5.16%

-4

Interest

Depreciation

Profit before Tax

Tax %

25.50%

26.51%

26.08%

26.37%

24.30%

27.70%

28.92%

24.96%

25.22%

25.23%

83.04%

22.84%

25.86%

Net Profit

0.48

0.38

1.48

1.52

1.21

1.14

1.51

2.26

1.53

1.72

0.02

0.99

0.36

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

113

173

210

249

258

122

157

176

214

227

Operating Profit

-5

-3

-5

-22

-8

OPM %

9.70%

-5.22%

-3.11%

-7.56%

-30.21%

-7.28%

9.19%

16.19%

13.83%

12.02%

Interest

Depreciation

Profit before Tax

Tax %

30.56%

6.24%

4.66%

35.42%

36.85%

31.05%

26.17%

26.37%

26.14%

26.56%

Net Profit

EPS

59.18

139.48

0.71

0.43

0.18

0.53

3.72

6.11

4.26

—

Dividend Payout %

0.00%

—

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

107

117

127

234

612

635

1,264

1,344

1,397

Trade Payables

Total Liabilities

146

176

191

317

724

722

1,383

1,466

1,509

110

123

214

360

336

527

667

1,343

105

Cash & Bank

220

112

189

126

257

597

686

Total Assets

146

176

191

317

724

722

1,383

1,466

1,509

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-17

-6

-0

Cash from Investing

-7

-3

-103

-375

-523

-43

-19

Cash from Financing

-2

101

358

583

-0

-2

-43

-13

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

48.25

48.22

48.17

48.16

48.55

48.77

48.78

9.54

10.21

8.27

7.60

5.51

5.49

4.97

5.35

5.75

21.66

20.56

22.61

23.00

23.54

21.58

20.62

20.86

Government

0.00

20.55

21.02

20.90

21.23

22.79

24.77

25.86

25.02

24.61

RateGain Travel Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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RateGain Travel Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI