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Anand Rathi
Easy Trip Planners (Buy)
Target: ₹550
CMP: ₹482.1
The company has reported strong revenue growth from operations of 425.6 per cent year-on-year at ₹18.70 crore. The second wave affected nearly one and a half months of the first quarter, affecting the tourism sectors with intermittent lockdown and travel restrictions. This affected overall gross bookings for the quarter. However, the bookings are normalising with time as the company has recorded 63 per cent of the entire Q1FY22 revenue in the month of July. On the profitability front, the EBITDA from operations for the quarter improved year-on-year to ₹5.17 crore with an operating margin of 27.7 per cent. The company has reported profit after tax of ₹15.4 crore, recording a growth of 518.2 per cent year-on-year with a net margin of 82.5 per cent translating into an EPS of ₹1.42 per share for the quarter.
The company believes there’s a huge amount of pent-up demand for travel and tourism sector post vaccination drive and that people are willing to go out on holidays. Once the situation normalises and is under control, the company anticipates there is huge opportunity lying ahead to grab market share and grow exponentially.
We continue to remain positive on the company due to its strong presence in the growing online ticketing market in India, lean business model, strong management, stronger balance sheet along with profitable growth outlook.
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