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INVESTMENT INSIGHTS

Check Before You Invest : Yatra Online Ltd

BSE: 543992 NSE: YATRA ISIN: INE0JR601024
  |   Sector:  Travel & Hospitality   |   Industry:  Travel Services

Snapshot

Q.1 Which industry/sub-sector does Yatra Online Ltd belong to?
Yatra Online Ltd belongs to the Travel & Hospitality sector, operating specifically within the Travel Services segment.
Q.2 Is Yatra Online Ltd a good quality company?
Yatra Online Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is Yatra Online Ltd undervalued or overvalued?
Yatra Online Ltd appears Somewhat overvalued, as its key valuation ratios are higher than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios Current 5-year
Historic Median
Price to Earnings 68.83 -
Price to Book 2.24 -
Price to Sales 3.02 3.05
EV to EBITDA 25.17 27.98
Q.4 Is Yatra Online Ltd a good buy now?
Yatra Online Ltd is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of Yatra Online Ltd?
Yatra Online Ltd revenue growth is 66% for FY-2025, which is above its 5-year CAGR of 1.44%, indicating faster growth.

Q.2 Gross Profit margin of Yatra Online Ltd?
Yatra Online Ltd Gross profit margin which is the profit after deduction of direct costs, is 8.6% for FY-2025, which is above its 5-year median of -0.6%, indicating increasing margins.

Q.3 Operating Profit Margin of Yatra Online Ltd?
Yatra Online Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 3.56% for FY-2025, which is above its 5-year median of -2.19% indicating increasing margins.

Q.4 Net Profit Margin of Yatra Online Ltd?
Yatra Online Ltd Net Profit Margin is 3.54% for FY-2025, is above its 5-year median of -6.36%, indicating increasing margins.
Current Level 5-year
Historic Median
Gross Profit Margin (%) 8.6 -0.6
Operating Profit Margin (%) 3.56 -2.19
Net Profit Margin (%) 3.54 -6.36

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of Yatra Online Ltd?
Yatra Online Ltd Return on Asset is 1.6%, which is above its 5-year historical median of -2.3%, indicating improved asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of Yatra Online Ltd?
Yatra Online Ltd Return on capital employed is 3.28% for FY-2025, which is above its 5-year historical median of -0.67%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Q.7 Return on Equity (ROE) of Yatra Online Ltd?
Yatra Online Ltd Return on equity is 2.47% for FY-2025, which is above its 5-year historical median of -4.53%, indicating the business is making better use of its shareholders capital.

Q.8 Cash conversion cycle of Yatra Online Ltd?
Yatra Online Ltd Cash conversion cycle is 129 days, above its 5-year historical median of 5 days, indicating deteriorated working capital management. However, you need to compare this with its peers in the industry.
Current Level 5-year
Historic Median
Asset Turnover (x) 0.45 0.36
ROE (%) 2.47 -4.53
ROCE (%) 3.28 -0.67
Cash Conversion Cycle 129 days 5 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of Yatra Online Ltd?
Yatra Online Ltd Debt-to-Equity ratio is 0.04, which is lower the industry average of 0.07, indicating lower debt levels in the industry.

Q.10 Debt to cash flow from operations of Yatra Online Ltd?
Yatra Online Ltd Debt to cash flow from operations is 1.85, which is at a moderate level.

Ownership & governance

D: Promoter shareholding and pledge status of Yatra Online Ltd?

Q.1 Promoter shareholding and pledge status of Yatra Online Ltd?
Promoters hold 62.66% of the Yatra Online Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does Yatra Online Ltd performance compare with that of its Peers?

Q.1 Revenue growth of Yatra Online Ltd vs industry peers?
Yatra Online Ltd revenue CAGR is 1.44%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Profit Metrics
Current Level 5-year
Industry Median
Revenue Growth (%) 66 0
Gross Profit Growth (%) 0 25.7
Operating Profit Growth (%) 0 35.1
Net Profit Growth (%) 0 30.6
Operating Efficiency
Current Level 5-year
Industry Median
Asset Turnover (x) 0.45 1.1
ROE (%) 2.47 9.64
ROCE (%) 3.28 16.65
Cash Conversion Cycle (days) 128.84 5

Valuation & price assessment

Q.1 Stock return of Yatra Online Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 37.67% based on the current price.
9Y 5Y 3Y 1Y
Share Price
CAGR		 - - - 37.7%
Q.2 Valuation ratios of Yatra Online Ltd vs historical?
The current P/E ratio of 68.83 is higher than its historical median of , indicating that the stock is trading above its historical average valuation.
Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?
Valuation Ratios Current 5-year
Historic Median		 5-year
Industry Median
Price to Earnings 68.83 - 41.42
Price to Book 2.24 - 2.54
Price to Sales 3.02 3.05 2.15
EV to EBITDA 25.17 27.98 13.93

Check more companies

1. TBO Tek
2. Le Travenues Techno
3. Thomas Cook (India)
4. Easy Trip Planners
5. Yatra Online
6. Intl Travel House
7. Wise Travel India
8. Trade-Wings
9. Autoriders Intl
10. Transcorp Intl.

Check trending companies

1. Blue Jet Healthcare Ltd.
2. Redington Ltd.
3. Radico Khaitan Ltd.
4. REC Ltd.
5. Cyient Ltd.
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