Mach Travel Solutions Ltd (544248)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mach Travel's revenue was ₹144 Cr (+538.1% year on year, +8.5% on the previous quarter), and net profit ₹6.2 Cr (+305.5% year on year); the operating margin was 4.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹144 | +538.1% | +8.5% |
| Operating profit | ₹6.9 | +526.2% | -31.1% |
| Net profit | ₹6.2 | +305.5% | -11.9% |
| EPS (₹) | 2.92 | +300.0% | -21.9% |
| Operating margin | 4.8% | — | — |
📢 Recent Corporate Announcements
Mach Travel Solutions has been empanelled by the Madhya Pradesh State Tourism Development Corporation Limited (MPSTDC) under the Mukhya Mantri Tirth Yatra Scheme. The pilgrimage programme envisages managing travel, lodging, meals, and logistics for approximately 10,000 pilgrims. This builds on the company's prior execution of the Punjab Government's pilgrimage scheme, expanding its footprint in government-sponsored tourism. Specific contract value was not disclosed in the announcement, though Mach reported TTM revenue of Rs 397 Cr.
- Empanelled under MPSTDC Mukhya Mantri Tirth Yatra Scheme covering approximately 10,000 pilgrims
- Scope encompasses transportation, accommodation, meals, local connectivity, manpower, and tour coordination
- Expansion into Madhya Pradesh follows prior execution of Punjab Government's pilgrimage scheme
- Financial order value not disclosed in the press release
Mach Travel Solutions Limited has onboarded more than 140 corporate clients as of September 30, 2026, for its Corporate Ticketing services and Self-Booking Tool. This scaling was achieved within approximately six months of launching its dedicated Corporate Travel vertical in April 2026. The client additions span diverse industries including Auto, IT, Pharma, and BFSI, transitioning the company toward recurring corporate travel revenue from cyclical project-based MICE events. However, the commercial contract value and revenue contribution from these accounts were not disclosed.
- Onboarded over 140 corporate clients as of September 30, 2026
- Expansion achieved within approximately 6 months since vertical launch in April 2026
- Covers multiple sectors including Auto, Chemicals, Pharma, BFSI, Tech, and Industrials
- Platform integrates a proprietary Self-Booking Tool (SBT) with centralized travel approval workflows
Mach Travel Solutions has shared its monthly corporate newsletter for October 2026. The update highlights external tourism developments, including visa policies and heritage additions, along with an internal presentation by Emirates Airlines at its Kolkata office. Additionally, the company noted its recognition in Dun & Bradstreet's 'Business Enterprises of Tomorrow 2026' report released on September 29, 2026. The publication is informational and carries no financial or commercial transaction disclosures.
- Featured among the 'Leading SMEs of India' in Dun & Bradstreet's report released on 29th September 2026
- Emirates Airlines hosted a product presentation at the company's Kolkata office covering its network of over 140 destinations
- Company newsletter highlighted that 45% of global travel buyers expect business trip volumes to rise in 2026-2027, up from 30% in April 2026
- Document serves as an internal and customer newsletter with zero disclosures on contracts, orders, or financials
Mach Travel Solutions Ltd announced that it has been featured as one of the 'Leading SMEs of India' in Dun & Bradstreet India's report titled 'Business Enterprises of Tomorrow 2026' released on September 29, 2026. The announcement is a non-financial corporate recognition update and does not alter the company's financial fundamentals. The company reported TTM revenue of Rs 490 Cr and net profit of Rs 27 Cr. Additionally, the company noted that its B2C platform, Machtravel.com, is currently in public beta.
- Featured in Dun & Bradstreet India's 'Business Enterprises of Tomorrow 2026' report on September 29, 2026
- Recognized under the 'Leading SMEs of India' category
- Company highlights its presence across 7 key locations including Noida, New Delhi, Kolkata, Mumbai, Bengaluru, Bhubaneswar, and Ahmedabad
- B2C platform Machtravel.com confirmed to be currently operating in public beta
Mach Travel Solutions Limited has launched public beta testing for its B2C Online Travel Agency (OTA) platform, Machtravel.com, and its mobile application on August 31, 2026. The platform integrates booking capabilities across Flights, Hotels, Holidays, MICE, Cruises, and Visa services ahead of a full commercial launch. This marks a strategic expansion from the company's core B2B and MICE solutions into the consumer OTA segment, against a TTM revenue base of Rs 490 Cr and TTM PAT of Rs 27 Cr.
- Commenced public beta testing for B2C OTA portal Machtravel.com and Mach Travel App on August 31, 2026
- Integrates 6 core travel services: Flights, Hotels, Holidays, MICE, Cruises, and Visa processing
- Invites user and stakeholder feedback during beta phase ahead of full commercial rollout
- Supports broader corporate strategy to scale beyond B2B MICE operations (TTM revenue: Rs 490 Cr)
Mach Travel Solutions Limited has commenced public beta testing for its B2C Online Travel Agency (OTA) platform, Machtravel.com, and the Mach Travel mobile application. The launch is an operational step in the company's planned expansion from pure-play B2B/MICE services into consumer-facing travel solutions. Feedback gathered during this public testing phase will be used to refine user experience and booking journeys ahead of the full commercial rollout. The company generated TTM revenue of ₹490 Cr and TTM PAT of ₹27 Cr as of June 2026.
- Commenced public beta testing for B2C OTA portal 'Machtravel.com' and the mobile application on August 31, 2026
- Marks strategic entry into the B2C travel ecosystem beyond core corporate MICE operations
- Full commercial launch timeline and monetisation metrics not disclosed in the announcement
- Company reports TTM revenue of ₹490 Cr with an operating profit margin of 6.9%
Mach Travel Solutions Ltd has shared its monthly corporate newsletter, 'The Montage' (Issue 04, September 2026). The publication contains general tourism industry trends, operational highlights such as hosting an Akasa Air Supplier's Day on July 31, and internal employee recognition. There are no material financial, contract, or operational disclosures regarding the company's core business in the document.
- Published Issue 04 (September 2026) of the company's monthly newsletter 'The Montage'.
- Highlighted industry data noting Tier-2 and Tier-3 cities drive ~70% of India's outbound tourism traffic.
- Noted national river cruise passengers increased to over 29 lakh in FY 2025-26 from 4.35 lakh in FY 2024-25.
- Showcased an internal Supplier's Day event hosted with Akasa Air at the Kolkata office on July 31.
Mach Travel Solutions has secured three inbound travel groups from France, Belgium, and the United States, marking its pilot entry into the inbound international travel segment. The groups comprise a total of 71 international travellers scheduled to travel in October 2026 across Rajasthan, South India, and Nepal. While the financial value was not disclosed, this represents an initial step in diversifying beyond its core domestic and outbound MICE operations relative to its TTM revenue base of Rs 490 Cr.
- Secured 3 inbound travel groups comprising 71 international travellers
- Itineraries include 30 travellers from France to Rajasthan, 15 from France/Belgium to South India, and 26 from the US to Nepal
- All three travel tours are scheduled for execution in October 2026
- Marks the company's maiden commercial entry into servicing inbound travellers from international markets
Mach Travel Solutions Limited has submitted its Integrated Annual Report for FY2025-26 along with the notice for its 22nd Annual General Meeting scheduled for September 15, 2026. The financial notes reveal ₹10.54 Cr spent towards the upcoming 'Book My Yatra' B2C portal, which is still under development. Additionally, the company carries ₹21.52 Cr as 'Project Held for Sale' awaiting commercial monetization. Trade receivables stood at ₹49.03 Cr as of March 31, 2026, compared to ₹42.95 Cr in the previous year.
- 22nd Annual General Meeting scheduled for Tuesday, September 15, 2026 at 12:00 IST via Video Conferencing.
- Incurred ₹10,53,67,162 towards the development of the B2C online portal ('Book My Yatra') up to March 31, 2026.
- Maintains ₹21,51,84,549 under 'Project Held for Sale' pending commercial monetization.
- Trade receivables increased to ₹49,03,97,119 as of March 31, 2026 from ₹42,95,48,126 in FY25.
Mach Travel Solutions Ltd has issued the notice for its 22nd Annual General Meeting (AGM) scheduled for September 15, 2026. The agenda includes shareholder approval for a final dividend of ₹0.50 per share (5% on face value of ₹10) for FY26. Key special business items include the appointment of Mr. Kaushik Ghosh as Joint Managing Director for a 5-year tenure and Mr. Adit Bhatia as Executive Director at a proposed monthly remuneration of up to ₹2,50,000.
- 22nd Annual General Meeting scheduled for September 15, 2026, via Video Conferencing.
- Proposed final dividend of ₹0.50 per equity share (5% on face value of ₹10) for FY25-26.
- Proposed appointment of Mr. Kaushik Ghosh as Joint Managing Director for 5 years (August 12, 2026 to August 11, 2031).
- Appointment of Mr. Adit Bhatia as Executive Director with proposed remuneration up to ₹2,50,000 per month.
Mach Travel Solutions conducted its Q1 FY27 earnings call, highlighting revenue from operations of ₹144.33 Cr (up 538% YoY) and PAT of ₹6.17 Cr (up 307% YoY). Management expressed confidence in achieving full-year revenue of ₹500+ Cr for FY27, driven by corporate travel diversification and major execution mandates. The ongoing Punjab Yatra program contributed significantly, with a total contract value of ₹92 Cr covering 1.85 lakh travelers (over 1.15 lakh completed by call date). The company has onboarded 100+ clients in its newly launched corporate travel vertical since April.
- Q1 FY27 revenue jumped 538% YoY to ₹144.33 Cr compared to ₹22.62 Cr in Q1 FY26, with GMV at ₹252 Cr
- EBITDA grew 437% YoY to ₹8.92 Cr (margin 6.09%), while PAT increased 307% YoY to ₹6.17 Cr
- Management guided for ₹500+ Cr revenue in FY27 backed by MICE, corporate travel, and institutional projects
- Punjab Yatra contract worth ₹92 Cr is scheduled to complete execution around November 2026
- Completed Oceania MICE programs worth ₹32 Cr covering 950-1,000 delegates during the quarter
Mach Travel Solutions Ltd has submitted the audio recording of its Q1 FY27 earnings conference call held on August 18, 2026. The call reviewed the financial results for the quarter ended June 30, 2026, where the company recorded Rs 144.33 crore in revenue and Rs 6.16 crore in net profit. The audio link has been made publicly available on the company website pursuant to Regulation 30 of SEBI LODR. This is a standard post-earnings compliance disclosure.
- Earnings conference call conducted on Tuesday, August 18, 2026
- Pertains to financial performance for the quarter ended June 30, 2026 (Q1 FY27)
- Follows prior schedule intimations dated August 10, 2026 and August 12, 2026
- Audio recording made accessible on the company's website under LODR Regulation 30
Mach Travel Solutions has updated its Code of Conduct for Prevention of Insider Trading to align with SEBI (PIT) Regulations, 2015. The amendment, approved by the Board on August 12, 2026, establishes protocols for 'Designated Persons' and the handling of Unpublished Price Sensitive Information (UPSI). This is a standard regulatory update required for listed entities to ensure market integrity. The company, which reported a TTM revenue of ₹465 Cr, maintains a high promoter holding of 72.93%, making internal trading governance a necessary administrative function.
- Board of Directors approved the amended Code of Conduct on August 12, 2026
- The original code was established on June 21, 2024, prior to this modification
- Defines 'Material financial relationship' as payments exceeding 25% of a Designated Person's annual income
- Ms. Yashashvi Srivastava continues as the Compliance Officer responsible for monitoring trades
- The code mandates a minimum 5-year retention period for all insider trading disclosures
Mach Travel Solutions reported a significant jump in consolidated revenue for Q1 FY27, reaching ₹146.37 Cr compared to ₹23.19 Cr in the same quarter last year. Consolidated PAT for the quarter stood at ₹6.16 Cr. The company has fixed September 4, 2026, as the record date for the final dividend of FY 2025-26. The 22nd Annual General Meeting is scheduled for September 15, 2026.
- Consolidated revenue for Q1 FY27 reached ₹146.37 Cr, a ~530% increase over ₹23.19 Cr in Q1 FY26.
- Consolidated Profit After Tax (PAT) for the quarter stood at ₹6.16 Cr.
- Record date for the final dividend for FY 2025-26 is fixed as September 4, 2026.
- Standalone revenue of ₹143.30 Cr for the quarter represents approximately 31% of the TTM revenue of ₹465 Cr.
- The 22nd Annual General Meeting (AGM) will be held on September 15, 2026.
Mach Travel Solutions has issued a revised joining link for its Q1 FY27 earnings conference call, now scheduled for August 18, 2026, at 11:00 AM IST. The correction follows a technical error in the previous intimation dated August 10, 2026. Management, including the CMD and CFO, will provide updates on the company's performance following a period where TTM revenue reached Rs 465 Cr and TTM PAT stood at Rs 30 Cr. This call is a key opportunity for investors to hear about the progress of the 'Book My Yatra' portal and government project empanelment.
- Earnings conference call scheduled for August 18, 2026, at 11:00 AM IST
- Revised joining link provided to correct a technical error in the August 10, 2026, filing
- Management representation includes Chairman & MD Amit Bhatia and CFO Ravi Kumar Mishra
- Company reported TTM revenue of Rs 465 Cr and TTM PAT of Rs 30 Cr as per latest context
- Call will focus on performance and earnings for the Q1 FY27 period
Financial Performance
Revenue Growth by Segment
Consolidated revenue for H1 FY26 reached INR 97.08 Cr. The core MICE segment remains the primary driver, while the newly launched Government Projects Division secured INR 0.80 Cr in its first two months. The Medical Conference vertical (Travexel) has an order book of INR 22-25 Cr for the current year and INR 20-22 Cr for the next year, indicating high-margin growth potential.
Geographic Revenue Split
The company manages both domestic and international events. Significant international projects in H1 FY26 included an incentive tour to Argentina (INR 10.74 Cr), Bali (INR 11.51 Cr), and niche events in Peru. Domestic highlights included events in Chennai (INR 9.32 Cr) and Goa (INR 9.21 Cr).
Profitability Margins
PAT margin for H1 FY26 stood at 8.16% (INR 7.82 Cr), a marginal increase from the previous year despite a dip in absolute top-line figures. Management targets a sustainable PAT margin range of 12% to 14% as they integrate higher-margin medical and government projects.
EBITDA Margin
EBITDA margin was 11.49% in H1 FY26, representing an improvement of 91 basis points YoY. This was achieved through operational discipline and cost optimization despite a soft operating quarter due to external disruptions.
Capital Expenditure
The company invested in a new 250-275 seater office in Noida (Sector 73) to support the launch of the 'Book My Yatra' OTA portal and future headcount growth. Specific INR expenditure for this facility was not disclosed.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company maintains a strong liquidity position with cash and bank balances of INR 21.65 Cr as of H1 FY26.
Operational Drivers
Raw Materials
Key cost components include hotel and venue bookings, airline tickets, visa processing fees, and entertainment/logistics setups for gala dinners and conferences.
Import Sources
Sourcing is global, following event destinations such as Argentina, Peru, Bali (Indonesia), and domestic hubs like Goa and Chennai.
Key Suppliers
Suppliers include major hotel chains, airlines (for ticketing), and Cordelia Cruises (used for a INR 9.32 Cr event in Chennai).
Capacity Expansion
Current capacity includes a new 250-275 seater office with a 9-year lease to support the B2C expansion. The company is also expanding its team for the new Government and Medical conference divisions.
Raw Material Costs
Direct event expenses are managed on a turnkey basis. Management focuses on a 'cost-effective zone' to preserve profitability, avoiding 'burning money' for growth.
Manufacturing Efficiency
Average revenue per event was INR 92 Lakhs in H1 FY26, down from INR 263.62 Lakhs in FY24, reflecting a shift in event mix and the impact of deferred projects.
Logistics & Distribution
End-to-end logistics management is a core service offering, including ticket and visa assistance and destination management.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
Growth will be driven by a 25% targeted increase in both top and bottom lines through the launch of the 'Book My Yatra' B2C portal in December 2025, empanelment with government agencies (e.g., IFFI 2025), and scaling the high-margin medical conference vertical.
Products & Services
Turnkey MICE solutions (Meetings, Incentives, Conferences, Events & Exhibitions), hotel and venue booking, destination management, and B2C travel services via an OTA portal.
Brand Portfolio
Mach Conferences and Events, Book My Yatra (B2C OTA brand), Travexel (Medical conference vertical).
New Products/Services
Launch of 'Book My Yatra' OTA portal (expected Dec 2025) and the formal entry into Government Projects (Hospitality Partner for IFFI 2025).
Market Expansion
Expansion into the B2C segment and institutional/public sector event management; targeting the main board listing within 1.5 years.
Market Share & Ranking
The company has 21 years of experience in the MICE industry; specific market share percentage not disclosed.
Strategic Alliances
Appointed as the official Hospitality Management Partner for the International Film Festival of India (IFFI) 2025 by the Ministry of Information & Broadcasting.
External Factors
Industry Trends
The MICE industry is evolving toward niche segments like medical conferences and government-led events. Mach is positioning itself by diversifying away from pure corporate MICE to capture these higher-margin, stable opportunities.
Competitive Landscape
Competition includes smaller local players and large travel management companies; Mach differentiates through end-to-end in-house management.
Competitive Moat
Moat is built on 21 years of turnkey execution expertise and deep corporate relationships in the BFSI and Auto sectors. This is sustainable due to the high complexity of managing large-scale international logistics for thousands of participants.
Macro Economic Sensitivity
Highly sensitive to geopolitical stability and travel sentiment; the India-Pakistan conflict led to a temporary halt in outbound programs in H1 FY26.
Consumer Behavior
Shift toward incentive-based travel in banking and insurance sectors; management notes that IT sectors have less incentive-based movement.
Geopolitical Risks
Cross-border conflicts (e.g., Pahalgam attack) directly impact travel volumes and lead to event cancellations.
Regulatory & Governance
Industry Regulations
Operations are subject to Ministry of Information & Broadcasting standards for government projects and SEBI Listing Obligations for its current BSE listing.
Taxation Policy Impact
Not specifically detailed beyond standard corporate tax applications.
Legal Contingencies
No specific pending court cases or case values were disclosed in the provided transcripts.
Risk Analysis
Key Uncertainties
Geopolitical tensions (India-Pakistan) remain a primary risk, with the potential to disrupt travel and impact revenue by 10-20% if prolonged.
Geographic Concentration Risk
Revenue is diversified across India, SE Asia (Bali), and South America (Argentina, Peru).
Third Party Dependencies
Dependency on airline carriers and international hotel partners for event execution.
Technology Obsolescence Risk
The company is mitigating digital risks by launching its own OTA portal (Book My Yatra) to capture B2C demand.
Credit & Counterparty Risk
Receivables were higher in H1 FY26 due to the timing of large event contracts, indicating a need for continued liquidity discipline.
