RATEGAIN TRAVEL TECHNOLOGIES (RATEGAIN): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹701.3 latest close · −25.5% over the last 90 sessions

₹701.3 month-end · −1.3% over 12 months

₹701.3 month-end · +6.3% over 3 years

₹701.3 month-end · +88.3% since Dec '21

52-week range ₹437.00 to ₹1050.00 · 1-year volatility 43.7%

Was the rally earned?

1 year3 years

-1%share price, 1 yearRoughly flat

The share price was roughly flat over 1 year (-1%).
The share count barely moved.

Net profit growth+14 ptsNet profit rose about 15%, which lifts the price.

P/E change-15 ptsThe P/E fell from 39.8x to 34.2x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

+6%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 121 points, but investors now pay less per rupee of profit (P/E 104.6x to 34.2x), which took 115 points back.
The share count rose 10%.

Net profit growth+131 ptsNet profit rose about 257%, which lifts the price.

P/E change-115 ptsThe P/E fell from 104.6x to 34.2x, which lowers the price.

Share count change-10 ptsShare count rose 10%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-53.7%recovered 2023-08

1-year volatility43.7%annualised

Beta vs sector index0.663-year daily, correlation 0.31

Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-53.7% (2022-01 peak to 2022-06 low, recovered 2023-08)

-53.3% (2024-02 peak to 2025-03 low, recovered 2026-07)

-29.2% (2026-08 peak to 2026-11 low, not yet recovered)

Most recent volume spikes

2026-11-06: 7.2x the 50-day median, price -11.4% that day

2026-08-06: 11.6x the 50-day median, price -3.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

34.2xP/E todayNear its historic low

Against its own history19th percentile

CheapestMedian 57.5xDearest

Usual range 28.9x to 404.0x since 2021-12.

Against Technology Services34.2x vs 21.1x

This company

34.2x

Sector median

21.1x

62% above the Technology Services median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE46th▼ 9 pts vs a year ago
Op. margin77th▲ 16 pts vs a year ago
Revenue growth97th▲ 47 pts vs a year ago
EPS growth57th▼ 11 pts vs a year ago
Debt/equity ↓18th▼ 66 pts vs a year ago
Cash cycle ↓38th▼ 10 pts vs a year ago
P/E ↓31st▼ 4 pts vs a year ago
12M momentum75thflat vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~30%annual earnings growth implied by the price

At a P/E of 66.4x, the price would imply about 30.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹701.30
P/E: 34.2x
ROCE: 14.0%
Market Cap: ₹8314 cr
Revenue (TTM): ₹2336 cr
P/S: 3.6x
P/B: 4.1x
ROE: 12.1%
Operating Margin: 22.0%
Debt / Equity: 0.5x
Promoter Holding: 48.8%
12M Momentum: -1.3%

52-week range

₹437.00₹1050.00

43% of the way from its 52-week low to its high

Price risk

1Y volatility

43.7%

Beta vs sector

1-year daily

0.75

Balance sheet & cash

Interest cover

operating profit ÷ interest

7.7x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.92x

Share count, 1Y

unchanged

Are profits backed by cash?

5 of 6checks within range1 near a threshold

Other income reliance3%Within range

Other income as a share of pre-tax profit (trailing twelve months): 3.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 23.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.92xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.92x (cash from operations ₹506 cr, net profit ₹548 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+16 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 16 days (94 vs 78). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, promoters trimmed 6.9 pts; DIIs added 3.1 pts.
The number of shareholders rose from 59,795 to 90,004 (+51%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters55.7%48.8%-6.9 pts

FIIs5.4%5.8%+0.3 pts

DIIs17.8%20.9%+3.1 pts

Public and others21.1%24.5%+3.5 pts

Number of shareholders

90,004shareholders+51% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−9.9%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like RATEGAIN TRAVEL TECHNOLOGIES today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −30% to +34% vs the market, against −4% for all non-financial companies in the same months.
The gap against the base rate (−5.8%, 80% range −19.8% to +8.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median

−9.9%

All companies' median

−4.1%

Beat the market

44% vs 46%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
GENUSPOWER Electronic Technology	Mar 2025	38x	11%	+14%	−44%	−16%
GREENPLY Producer Manufacturing	Apr 2020	16x	12%	−38%	−40%	+22%
SOLARA Health Technology	Jul 2021	33x	15%	+116%	−9%	−78%
ARVSMART Finance	May 2025	29x	16%	+6%	−33%	−14%
SDBL Consumer Non-Durables	Apr 2024	41x	16%	+89%	−17%	+4%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
KPIGREEN Utilities	Jul 2025	31x	17%	−17%	−30%	−31%
GUFICBIO Health Technology	Mar 2025	41x	—	+19%	−31%	−16%
ORIENTHOT Consumer Services	Oct 2023	32x	13%	+36%	−12%	+35%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/S, 12-month momentum and drawdown from 12-month high. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to RATEGAIN TRAVEL TECHNOLOGIES. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

INOX WINDINOXWIND

Producer Manufacturing

72%similar

revenue growthP/E

KDDLKDDL

Consumer Durables

69%similar

revenuedebt/equity

ANANT RAJANANTRAJ

Consumer Durables

66%similar

EPS growthvolatility

VENUS PIPES TUBESVENUSPIPES

Non-Energy Minerals

66%similar

promoter holdingP/E

PITTI ENGINEERINGPITTIENG

Producer Manufacturing

65%similar

ROCErevenue

KPIT TECHNOLOGIESKPITTECH

Technology Services

47%similar

market capvolatility

AURIONPRO SOLUTIONSAURIONPRO

Technology Services

42%similar

volatilityROCE

EMUDHRAEMUDHRA

Technology Services

41%similar

revenue growthoperating margin

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Mar '24

2026
NovPriceFell 29% from the Aug 2026 peak to the Nov 2026 low.
NovPriceVolume reached 7.2x its 50-day median on 2026-11-06; price -11.4% that day.
SepResultsYear-on-year EPS growth turned positive.
SepPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
AugPriceVolume reached 11.6x its 50-day median on 2026-08-06; price -3.4% that day.
JulPriceRegained the 2024-02 peak, 16 months after the low.
JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
MayPriceVolume reached 33.2x its 50-day median on 2026-05-22; price +9.5% that day.

Show 22 earlier events

2026
MarResultsYear-on-year EPS growth turned negative.
MarPeer rankSlipped to the 3rd quartile of Technology Services on operating margin (from the 2nd quartile).
FebPriceVolume reached 22.7x its 50-day median on 2026-02-13; price -4.1% that day.
2025
DecInstitutionsFII + DII holding fell 3.5 pts over 2 quarters to 27.1%.
OctPriceVolume reached 12.7x its 50-day median on 2025-10-01; price +7.4% that day.
AugPriceVolume reached 25.6x its 50-day median on 2025-08-25; price +6.5% that day.
JunPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
MayPriceVolume reached 8.5x its 50-day median on 2025-05-26; price +4.0% that day.
MarPriceFell 53% from the Feb 2024 peak to the Mar 2025 low.
FebPriceVolume reached 11.5x its 50-day median on 2025-02-19; price +0.8% that day.
2024
NovPriceVolume reached 8.8x its 50-day median on 2024-11-12; price -9.5% that day.
SepPromoterPromoter holding fell 3.0 pts to 48.2% (largest drop since 2024-03).
SepPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
SepPriceVolume reached 8.3x its 50-day median on 2024-09-20; price +3.4% that day.
JunResultsRevenue (TTM) reached a new high of ₹957 cr.
JunValuationP/E fell below the 10th percentile of its own history to date (58.6x).
JunPeer rankMoved into the 2nd quartile of Technology Services on ROCE (from the 3rd quartile).
JunSharesShare count is up 9.1% over 12 months.
MayPriceVolume reached 9.9x its 50-day median on 2024-05-21; price +4.7% that day.
MarPromoterPromoter holding fell 4.4 pts to 51.3%.
MarInstitutionsFII + DII holding rose 4.2 pts over 1 quarter to 27.4%.
MarPriceVolume reached 11.5x its 50-day median on 2024-03-28; price -7.5% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	34.2x	₹2336 cr	12.1%	14.0%	0.5x
2026-10	39.0x	₹2336 cr	12.1%	14.0%	0.5x
2026-09	41.6x	₹2336 cr	12.1%	14.0%	0.5x
2026-08	57.0x	₹1824 cr	9.7%	14.0%	0.5x
2026-07	55.8x	₹1824 cr	9.7%	14.0%	0.5x
2026-06	54.7x	₹1824 cr	9.7%	14.0%	0.5x
2026-05	49.2x	₹1369 cr	10.6%	17.0%	0.0x
2026-04	39.7x	₹1369 cr	10.6%	17.0%	0.0x
2026-03	28.9x	₹1369 cr	10.6%	17.0%	0.0x
2026-02	29.9x	₹1108 cr	12.5%	17.0%	0.0x
2026-01	34.5x	₹1108 cr	12.5%	17.0%	0.0x
2025-12	39.0x	₹1108 cr	12.5%	17.0%	0.0x
2025-11	39.8x	₹1090 cr	12.5%	17.0%	0.0x
2025-10	35.8x	₹1090 cr	12.5%	17.0%	0.0x
2025-09	36.2x	₹1090 cr	12.5%	17.0%	0.0x
2025-08	28.9x	₹1077 cr	12.4%	17.0%	0.0x
2025-07	24.8x	₹1077 cr	12.4%	17.0%	0.0x
2025-06	25.8x	₹1077 cr	12.4%	17.0%	0.0x
2025-05	25.6x	₹1072 cr	14.1%	17.0%	0.0x
2025-04	25.1x	₹1072 cr	14.1%	17.0%	0.0x
2025-03	25.7x	₹1072 cr	14.1%	17.0%	0.0x
2025-02	30.7x	₹1045 cr	12.9%	17.0%	0.0x
2025-01	43.8x	₹1045 cr	12.9%	17.0%	0.0x
2024-12	45.5x	₹1045 cr	12.9%	17.0%	0.0x
2024-11	49.1x	₹1003 cr	11.4%	17.0%	0.0x
2024-10	52.7x	₹1003 cr	11.4%	17.0%	0.0x
2024-09	51.3x	₹1003 cr	11.4%	17.0%	0.0x
2024-08	57.9x	₹957 cr	10.0%	17.0%	0.0x
2024-07	64.5x	₹957 cr	10.0%	17.0%	0.0x
2024-06	58.6x	₹957 cr	10.0%	17.0%	0.0x
2024-05	110.7x	₹565 cr	9.6%	10.0%	0.0x
2024-04	110.5x	₹565 cr	9.6%	10.0%	0.0x
2024-03	113.6x	₹565 cr	9.6%	10.0%	0.0x
2024-02	128.7x	₹565 cr	9.6%	10.0%	0.0x
2024-01	126.3x	₹565 cr	9.6%	10.0%	0.0x
2023-12	115.3x	₹565 cr	9.6%	10.0%	0.0x
2023-11	104.6x	₹565 cr	9.6%	10.0%	0.0x
2023-10	98.9x	₹565 cr	9.6%	10.0%	0.0x
2023-09	94.0x	₹565 cr	9.6%	10.0%	0.0x
2023-08	95.3x	₹565 cr	9.6%	10.0%	0.0x
2023-07	73.2x	₹565 cr	9.6%	10.0%	0.0x
2023-06	66.2x	₹565 cr	9.6%	10.0%	0.0x
2023-05	484.0x	₹367 cr	1.3%	3.0%	0.0x
2023-04	456.0x	₹367 cr	1.3%	3.0%	0.0x
2023-03	440.6x	₹367 cr	1.3%	3.0%	0.0x
2023-02	451.5x	₹367 cr	1.3%	3.0%	0.0x
2023-01	470.6x	₹367 cr	1.3%	3.0%	0.0x
2022-12	365.8x	₹367 cr	1.3%	3.0%	0.0x
2022-11	372.2x	₹367 cr	1.3%	3.0%	0.0x
2022-10	347.6x	₹367 cr	1.3%	3.0%	0.0x
2022-09	345.6x	₹367 cr	1.3%	3.0%	0.0x
2022-08	382.9x	₹367 cr	1.3%	3.0%	0.0x
2022-07	413.1x	₹367 cr	1.3%	3.0%	0.0x
2022-06	305.5x	₹367 cr	1.3%	3.0%	0.0x
2022-05	—	₹251 cr	-11.9%	-6.0%	0.5x
2022-04	—	₹251 cr	-11.9%	-6.0%	0.5x
2022-03	—	₹251 cr	-11.9%	-6.0%	0.5x
2022-02	—	₹251 cr	-11.9%	-6.0%	0.5x
2022-01	—	₹251 cr	-11.9%	-6.0%	0.5x
2021-12	—	₹251 cr	-11.9%	-6.0%	0.5x

Methodology and data notes