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MMYT 
MakeMyTrip Limited (MMYT)
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Upturn Advisory Summary
12/31/2025: MMYT (3-star) is a STRONG-BUY. BUY since 7 days. Simulated Profits (-4.82%). Updated daily EoD!
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Number of Analysts
10 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $111.2
1 Year Target Price $111.2
| 5 | Strong Buy |
| 4 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 93.95% | Avg. Invested days 49 | Today’s Advisory Regular Buy |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  4.0 |
| Profits based on simulation | Last Close 12/31/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 7.79B USD | Price to earnings Ratio 120.43 | 1Y Target Price 111.2 |
Price to earnings Ratio 120.43 | 1Y Target Price 111.2 | ||
Volume (30-day avg) 10 | Beta 0.7 | 52 Weeks Range 69.69 - 122.35 | Updated Date 01/2/2026 |
52 Weeks Range 69.69 - 122.35 | Updated Date 01/2/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.68 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 7.57% | Operating Margin (TTM) 15.02% |
Management Effectiveness
Return on Assets (TTM) 4.89% | Return on Equity (TTM) 12.71% |
Valuation
Trailing PE 120.43 | Forward PE - | Enterprise Value 8370986419 | Price to Sales(TTM) 7.71 |
Enterprise Value 8370986419 | Price to Sales(TTM) 7.71 | ||
Enterprise Value to Revenue 8.28 | Enterprise Value to EBITDA 46.21 | Shares Outstanding 89851697 | Shares Floating 24375167 |
Shares Outstanding 89851697 | Shares Floating 24375167 | ||
Percent Insiders 17.8 | Percent Institutions 100.02 |
Upturn AI SWOT
MakeMyTrip Limited
Company Overview
History and Background
MakeMyTrip Limited was founded in 2000 by Deep Kalra. It began as an online travel agency (OTA) primarily serving the Indian diaspora in the United States. Over the years, it has grown significantly, expanding its services to cater to the burgeoning Indian domestic travel market. Key milestones include its listing on NASDAQ in 2010 and its merger with ibibo Group in 2017, which significantly consolidated its market position and expanded its offerings.
Core Business Areas
- Online Travel Services: This segment offers a comprehensive range of travel products including air ticketing, hotel bookings, bus bookings, holiday packages, and more through its online platforms (MakeMyTrip, Goibibo, and MakeMyTrip.com).
- Advertising and Related Services: This segment includes income from advertising on its platforms and other related services.
- Other Business: This segment encompasses revenue from other ancillary services and partnerships.
Leadership and Structure
MakeMyTrip Limited is led by a seasoned management team. Deep Kalra serves as the Executive Chairman, and Rajesh Magow is the Chief Executive Officer. The company operates with a hierarchical structure, with various departments managing its diverse operations across online platforms, technology, marketing, and customer service.
Top Products and Market Share
Key Offerings
- Air Ticketing: MakeMyTrip is a leading online platform for booking flight tickets in India. It offers a wide selection of domestic and international flights. Competitors include Goibibo (part of MakeMyTrip), EaseMyTrip, and Yatra. Online travel aggregators dominate this segment, with MakeMyTrip being a significant player. Market share data is proprietary but it's considered one of the top two in India.
- Hotel Bookings: The company provides a vast inventory of hotels, from budget to luxury, across India and internationally. It competes with Goibibo, Booking.com, Agoda, and other OTAs. MakeMyTrip holds a substantial market share in the Indian online hotel booking space.
- Holiday Packages: MakeMyTrip offers curated domestic and international holiday packages, catering to various customer segments. Competitors include other OTAs and traditional tour operators. This segment contributes significantly to its revenue.
- Bus Ticketing: Through its platforms, MakeMyTrip facilitates bus ticket bookings across India, partnering with numerous bus operators. Goibibo is also a major player in this segment. Competitors include RedBus (part of MakeMyTrip) and other regional players. It holds a leading position in online bus ticketing.
Market Dynamics
Industry Overview
The online travel industry in India is highly dynamic and competitive, driven by increasing internet penetration, smartphone usage, and a growing middle class with disposable income. The sector encompasses flights, hotels, bus bookings, and holiday packages, with a strong shift towards digital channels.
Positioning
MakeMyTrip Limited is a dominant player in the Indian online travel market, benefiting from its strong brand recognition, extensive network of suppliers, and a multi-brand strategy (MakeMyTrip and Goibibo). Its competitive advantages include its wide product and service offerings, user-friendly platforms, and extensive customer base. The merger with ibibo Group has further strengthened its position by consolidating market share and operational efficiencies.
Total Addressable Market (TAM)
The total addressable market for online travel in India is substantial and projected to grow significantly. While specific TAM figures vary, it is estimated to be in the tens of billions of dollars, encompassing all travel-related bookings. MakeMyTrip is well-positioned to capture a significant portion of this TAM due to its established presence and comprehensive offerings.
Upturn SWOT Analysis
Strengths
- Strong brand recognition and customer loyalty in India.
- Comprehensive product and service portfolio (flights, hotels, buses, packages).
- Significant market share in key segments.
- Effective multi-brand strategy (MakeMyTrip and Goibibo).
- Robust technology infrastructure and user-friendly platforms.
- Extensive network of suppliers and partnerships.
Weaknesses
- Intense competition leading to price wars.
- Dependence on third-party suppliers for inventory.
- Seasonality in travel demand can impact revenue.
- High marketing and promotional expenses.
Opportunities
- Growth in India's domestic tourism sector.
- Increasing adoption of online travel bookings by tier-2 and tier-3 cities.
- Expansion into new travel-related services (e.g., travel insurance, car rentals).
- Leveraging AI and data analytics for personalized customer experiences.
- Potential for international market expansion.
Threats
- Disruption from new online travel startups or direct bookings by airlines/hotels.
- Economic downturns affecting travel spending.
- Regulatory changes impacting the travel industry.
- Cybersecurity threats and data breaches.
- Intensifying competition from global OTAs.
Competitors and Market Share
Key Competitors
- MakeMyTrip Limited (NASDAQ: MMYT)
- Yatra Online, Inc. (NASDAQ: YTRA)
- EaseMyTrip (NSE: EASEMYTRIP)
Competitive Landscape
MakeMyTrip holds a leading position due to its comprehensive offerings and strong brand. Yatra and EaseMyTrip are significant competitors, with EaseMyTrip often competing on price. The competitive landscape is characterized by aggressive marketing, loyalty programs, and a constant drive for innovation.
Major Acquisitions
ibibo Group
- Year: 2017
- Acquisition Price (USD millions): 700
- Strategic Rationale: To create a dominant online travel entity in India by combining MakeMyTrip's air ticketing and hotel businesses with ibibo's strong presence in bus ticketing and hotels, consolidating market share and achieving operational synergies.
Myntra Designs Pvt. Ltd. (certain travel assets)
- Year: 2016
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition of Myntra's travel business to strengthen MakeMyTrip's position in the online travel market.
Growth Trajectory and Initiatives
Historical Growth: MakeMyTrip has experienced robust historical growth, driven by the digitalization of travel in India and its strategic acquisitions. The company has consistently expanded its customer base and service offerings.
Future Projections: Analyst estimates project continued strong growth for MakeMyTrip, driven by the expanding Indian middle class, increasing internet penetration, and a post-pandemic travel rebound. Growth is expected to be fueled by both organic expansion and potential new ventures. (Note: Specific analyst projections are dynamic.)
Recent Initiatives: Recent initiatives include enhanced mobile app features, personalized customer experiences through data analytics, and a focus on expanding its non-air travel offerings, such as hotels and holiday packages. The company is also investing in technology to improve operational efficiency and customer engagement.
Summary
MakeMyTrip Limited is a dominant player in the Indian online travel market, benefiting from a strong brand, comprehensive offerings, and a consolidated market position. Its growth trajectory is positive, driven by India's burgeoning travel sector. While facing intense competition and reliance on suppliers, its strategic initiatives and market leadership position it well for future success. The company needs to continually innovate and adapt to evolving customer preferences and technological advancements.
Similar Stocks
Sources and Disclaimers
Data Sources:
- MakeMyTrip Limited Investor Relations
- NASDAQ
- Financial news outlets (e.g., Bloomberg, Reuters)
- Industry analysis reports
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Data on market share, financial metrics, and future projections are estimates and subject to change. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MakeMyTrip Limited
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2010-08-12 | Co-Founder, Group CEO & Director Mr. Rajesh Magow | ||
Sector Consumer Cyclical | Industry Travel Services | Full time employees 5122 | Website https://www.makemytrip.com |
Full time employees 5122 | Website https://www.makemytrip.com | ||
MakeMyTrip Limited, together with its subsidiaries, operates as a travel service provider in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, Cambodia, and Indonesia. The company operates through three segments: Air Ticketing, Hotels, and Packages and Bus Ticketing. Its products and services include air ticketing, hotels and packages, bus tickets, rail tickets, and car hire; activities and experiences and ancillary travel requirements, such as facilitating access to third-party travel and other insurance products, foreign currency exchange services, and visa-related products and services under the MakeMyTrip, Goibibo, and redBus brands. The company allows travelers to research, plan, and book a range of travel services and products in India and internationally through its primary websites, including makemytrip.com, goibibo.com, redbus.in, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, franchisee-owned travel stores, and travel agents' network, as well as its mobile applications. It primarily serves leisure travelers and corporates. The company was formerly known as International Web Travel Private Limited and changed its name to MakeMyTrip Limited in March 2010. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India.
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