Easy Trip Planners Limited (EaseMyTrip)

Strengths Debt-free balance sheet with net cash position, giving the company financial stability despite weak profits. Strong brand recognition in Indian online travel with a large customer base and presence across flights, hotels, rail, buses and holiday packages. Weaknesses Profitability has collapsed sharply in FY26. Q3 FY26 net profit declined nearly 83% YoY and operating profit fell more than 91%. Operating margin has fallen from nearly 30% historically to around 2.8%, showing serious pressure in the business model. Revenue growth has become very weak, with Q3 FY26 revenue rising less than 1% YoY. peak. Opportunities Rising domestic travel, tourism and international travel demand in India can support long-term booking growth. Expansion into hotels, holidays, visa, travel insurance and other higher-margin services can improve profitability. The planned ₹500 crore fund raise may help the company invest in technology, acquisitions and Threats Very strong competition from larger travel platforms such as MakeMyTrip and Yatra may continue to reduce margins and market share. If operating margins remain below 10% for the next few quarters, the current business slowdown may become structural rather than temporary. High promoter pledge and earlier promoter stake sales have hurt investor confidence and may continue to pressure the stock. SEBI Registered Research Analyst Disclaimer (INH000013174): This analysis is prepared only for educational and informational purposes and should not be considered as investment advice, buy recommendation or sell recommendation. Investors should do their own research and consult their financial advisor before taking any investment decision. Registration No.: INH000013174.