Mach Conferences And Events Ltd

Inbound travel groups secured

• Mach Travel Solutions secured three inbound groups from France, Belgium and the United States.
• Total travellers amount to 71, scheduled to travel in October 2026.

Financial snapshot FY26

• Revenue from operations: ₹230.45 Cr; YoY decline of 2.25%.
• EBITDA: ₹22.35 Cr; margin 9.70%.
• PAT: ₹15.06 Cr; PAT margin 6.54%.
• Basic EPS: ₹7.44 per share.
• RoNW: 12.99% (RoNW contracted due to enlarged equity base).
• Interest coverage: 23.72x; Debt-Equity: 0.05x.
• Trade receivables turnover: 5.01x; DSO about 73 days.

Business mix and growth

• FY26 MICE segment rebounded strongly; served 30+ elite brands.
• Punjab CM's Tirth Yatra mandate: ₹92 Cr order; multi-phase execution.
• IFFI 2025 hospitality partner; 1,200+ participants managed.
• Cordelia Cruises distribution; Cruise Bharat Mission tailwinds.
• Diversified travel portfolio expanding corporate, govt, destination mgmt.
• Transition to integrated travel solutions platform underway; five verticals.

Digital transformation and technology

• Mach Travel OTA portal: 90% ready; cross-sell to MICE/retail.
• In-house GDS/IATA ticketing: Fully enabled.
• AI-powered delegate management: In development.
• DPDP Act 2023 cybersecurity framework; internal audit appointed.

Capital structure and dividends

• IPO completed September 2024; equity capital 21.0371 Cr shares.
• Final dividend proposed: ₹0.50 per equity share; record date 4 Sep 2026.
• Promoters hold: Amit Bhatia 65.6%; Laveena Bhatia 6.99%.
• Travexel subsidiary acquired 60% in FY25; disinvestment approved Aug 2026.

Governance and controls

• Kaushik Ghosh and Ranjan Ghosh appointed as Additional Directors in Mar 2026.
• Independent Directors: Hemant Koushik, Bhavya Srivastava, Manish Chandak.
• Audit Committee: 3 members; meetings through FY26.
• Secretarial audit: No qualifications; RPT policy updated per SEBI.

Subsidiaries and group

• Subsidiaries: Mach Conventions and Voyages Pvt Ltd; Travexel Events and Travel Pvt Ltd.
• Consolidated statements include these subsidiaries; Form AOC-1 Annexure 1.
• Travexel: 60% stake previously; now disposed as per Aug 2026 Board approval.

CSR and sustainability

• CSR spend: ₹43.70 Lakh; 2% average net profit: ₹43.67 Lakh.
• CSR project: REEE Foundation; Delhi; CSR000512 31.
• CSR policy disclosed on company site; no unspent CSR funds.

Risks and outlook

• Geopolitical headwinds; Middle East tensions; currency and energy volatility.
• Indian MICE market: ~USD 66.9B by 2030; India growth supported by infra spend.
• Strategic focus: government projects, corporate MICE leadership, and OTA expansion.

AGM Details

• Date and time: 15 September 2026 at 12:00 IST.
• Mode: Video Conference / Other Audio-Visual Means.
• Cut-off for e-voting eligibility: 4 September 2026.
• Record date for dividend and eligibility: 4 September 2026.

Resolutions proposed

• Resolution 1: Adoption of Audited standalone and consolidated financial statements (Ordinary).
• Resolution 2: Final dividend of Rs 0.50 per equity share (Ordinary).
• Resolution 3: Amit Bhatia re-appointed as Director (retiring by rotation) (Ordinary).
• Resolution 4: Kaushik Ghosh appointed Executive Director (Ordinary).
• Resolution 5: Kaushik Ghosh appointed Joint Managing Director for five years (Special).
• Resolution 6: Ranjan Ghosh appointed Executive Director (Ordinary).
• Resolution 7: Yash Pal Bhatia appointed Non-Executive and Non-Independent Director (Ordinary).
• Resolution 8: Adit Bhatia appointed Additional Director (Ordinary).

Dividend

• Final dividend proposed at Rs 0.50 per share; record date 4 September 2026.

Voting status

• Voting outcomes not provided in this filing.

Director changes

• Amit Bhatia re-appointed as Director (retiring by rotation).
• Kaushik Ghosh appointed Executive Director.
• Kaushik Ghosh to be Joint Managing Director (12 Aug 2026–11 Aug 2031).
• Ranjan Ghosh appointed Executive Director.
• Yash Pal Bhatia appointed Non-Executive/Non-Independent Director.
• Adit Bhatia appointed Additional Director.

Remuneration terms

• Kaushik Ghosh: up to Rs 18.75 lakh/month; bonus up to Rs 1 crore; stock options.
• Ranjan Ghosh: up to Rs 5 lakh/month; stock options.
• Adit Bhatia: up to Rs 2.5 lakh/month; stock options.
• Yash Pal Bhatia: no remuneration; waives sitting fees.

Financial Performance

• Q1 FY27 revenue: INR 144.33 cr; Q1 FY26: INR 22.62 cr; YoY growth 538%.
• EBITDA: INR 8.92 cr; margin 6.09% vs 7.17% LY; sequential up from 3.81 cr.
• PAT: INR 6.17 cr; YoY growth 307%; PAT margin 4.22% vs 6.54% LY.
• Debt: debt-free with just about INR 3 crores of debt.
• Core drivers: MICE remains core; new verticals ramping; investments in tech, teams, and infra.
• MICE programs in Oceania: INR 32 crores; 950–1,000 delegates.
• Punjab Yatra: INR 92 crores; ~1.85 lakh travellers.
• IRCTC empanelment enables back-end travel, rail tours; empanelment two years, extendable.
• Geographic expansion: Noida, New Delhi, Mumbai, Kolkata, Bengaluru, Bhubaneswar, Ahmedabad.
• Digital push: B2C OTA platform; Machtravel.com; app testing phase.
• FY27 revenue target around INR 500+ crores; momentum and pipeline in place.
• No firm date for margin improvement; profitability to rise as verticals scale.

Operating Update

• MICE remains core; expansion into corporate travel, B2B, leisure, government.
• SBT corporate tool; maker-checker; credit shell; payments 1st–15th, due by 20th.
• 1st Apr FY27: corporate onboarding; >100 corporates onboarded; recurring revenue potential.
• IRCTC empanelment: two-year term; extendable.
• Geographic expansion: Noida, Delhi, Mumbai, Kolkata, Bengaluru, Bhubaneswar, Ahmedabad.
• B2C portal Machtravel.com; app testing phase.
• FY27 revenue target around INR 500+ crores; momentum intact.

Balance Sheet and Cash Flow

• Working capital challenges; payment cycle issues; potential overdraft facility.
• IPO proceeds used; debt ~INR 3 crores; no new borrowings flagged.

Capex and Projects

• Technology and talent investments; offices; near-term margin compression.
• IRCTC and Punjab Yatra expansions; B2C platform development progress.

Outlook and Guidance

• FY27 revenue target around INR 500+ crores; growth momentum to sustain.
• Seasonality: Q2 usually heavier; Oct–Nov festival period; Dec corporate travel softer.
• Margin trajectory: gradual PAT margin improvement; no firm date.
• Main-board eligibility expected within the next 12 months.

Q&A Highlights

• Corporate travel: contracts multi-year; 100+ corporates; corporate revenue ~12–15% of total.
• Corporate travel is recurring; ongoing quarterly demand.
• MICE remains dominant; other verticals ramp gradually; margins to improve as scale.
• IRCTC empanelment: two-year term; extendable.
• B2C differentiation: captive audience, app-driven touchpoints; pricing parity with large players.
• Main-board eligibility within 12 months.
• Punjab Yatra economics: cost per person INR 4,950; government pays; daily travellers ~1,100; total 1.85 lakh.
• Punjab Yatra contract value: INR 92 crores; travel under Punjab government program.

Risks and Watchpoints

• Working capital cycle and government payment delays; OD risk.
• Seasonality and festival-driven year-end fluctuations in corporate travel.
• Execution risk while scaling new verticals; technology and integration milestones.

Meeting Details

• Date: August 18, 2026; Earnings Call for Q1 FY2027.
• Mode: group, virtual earnings conference call.
• Organizer: Mach Travel Solutions Ltd.
• Time: not disclosed.

Recording Availability

• Audio recording available on company website.

Code amendment and effective date

• Amendment approved by the Board on Aug 12, 2026.
• Effective from August 2026; applies to designated persons and their immediate relatives.

Scope and purpose

• Policy governs prevention and monitoring of trading by insiders per SEBI PIT Regulations.
• Aims to regulate UPSI handling and ensure fiduciary duties to shareholders.

Governance and controls

• Structured Digital Database maintained with audit trails for UPSI sharing.
• Chinese wall and restricted-area separation to prevent leakage of UPSI.
• Penalties for violations include wage freeze, suspension, clawback, or termination.

Compliance role and responsibilities

• Compliance Officer: Ms. Yashashvi Srivastava, Company Secretary; reports to Board.
• Pre-clears trades and monitors compliance with the Code.
• Maintains five-year disclosure records and notifies stock exchanges as required.

Trading windows and pre-clearance

• Trading Window closed when UPSI risk assessment indicates possession risk.
• Pre-clearance required for trades above Rs 10 lakh per quarter.
• Trading plans exempt from pre-clearance and window norms.

Trading plans and execution

• Trading plans require board-approved disclosure; trading cannot start earlier than 120 days after disclosure.
• Plans specify trade value or quantity, timing, and price cap within allowed ranges.
• If information becomes public, execution may be deferred; if not executed, re-approval required.

Disclosures and records

• Initial and continual disclosures required; five-year record retention.
• Disclosures include immediate relatives and connected persons as applicable.
• Company discloses trades to stock exchanges within two trading days.

Fair Disclosure and Legitimate Purposes

• Fair Disclosure Code designates Chief Investor Relations Officer.
• Policy defines Legitimate Purposes as ordinary-course, need-to-know sharing of UPSI.

Access and queries

• Compliance contact details provided for queries.

Meeting Details

• Date and time: Tuesday, August 18, 2026 at 11:00 IST.
• Mode: group virtual earnings conference call.
• Event: Q1 FY27 Earnings Conference Call.
• Organizer: Mach Travel Solutions Limited (formerly Mach Conferences and Events Limited).
• Revised joining link issued; earlier link was incorrect.
• Dial-in access available; Diamond Pass registration advised.

Participants

• Management participants: Chairman & Managing Director; Chief Financial Officer; Company Secretary & Compliance Officer.

Purpose

• Purpose: update on Q1 FY27 performance/earnings; investor interaction.

Additional Notes

• Conference is group call; schedule may change due to exigencies; no unpublished price-sensitive information to be shared.

Business Overview

• Technology-enabled travel solutions firm combining MICE with recurring travel demand.
• Rebranded as Mach Travel Solutions Limited; expanded into Corporate Travel, B2B, Leisure, and Government projects.
• 7 operational offices across major Indian cities.
• 100+ corporate clients onboarded since April 2026.
• Launched Corporate Self Booking Tool for enterprises.
• Launched machtravel.com B2C platform.
• New growth engines include Religious Tourism; 21 new corporate clients added in 2025.
• 20+ years of experience serving corporates, institutions and government.

Key Operational Highlights

• Q1 FY27 revenue from operations ₹144.33 crore, up 538% YoY.
• Total income ₹146.37 crore; operating expenses ₹137.45 crore.
• EBITDA ₹8.92 crore; EBITDA margin 6.09% (vs 7.17% in Q1 FY26).
• PBT ₹8.24 crore; PAT ₹6.17 crore; PAT margin 4.22%.
• Net profit ₹6.14 crore; basic EPS ₹2.92.
• Onboarded 100+ corporate clients as of Aug 1, 2026.
• Commenced voluntary quarterly financial reporting.
• Management commentary notes diversification across verticals with momentum.

Financial Performance

• Revenue from operations ₹144.33 crore in Q1 FY27; YoY growth 538%.
• EBITDA ₹8.92 crore; EBITDA margin 6.09%.
• PBT ₹8.24 crore; PAT ₹6.17 crore; PAT margin 4.22%.
• Net profit ₹6.14 crore; basic EPS ₹2.92.
• Total expenses ₹137.45 crore; major driver COGS ₹125.88 crore.

Strategic Priorities & Outlook

• Scale each vertical; deepen technology integration; expand customer base.
• Leverage MACH ecosystem to drive growth.
• Strong pipeline across key verticals; visibility for future quarters.
• New growth engines include Religious Tourism; 21 new corporate clients added in 2025.
• Launched enterprise travel management, Corporate Self Booking Tool, and machtravel.com platform.
• Plans for further geographic and vertical expansion.

Governance & Reporting

• Commenced voluntary quarterly financial reporting.

Financial highlights

• Revenue from operations: ₹144.33 crore in Q1 FY27, up 538% YoY from ₹22.62 crore.
• EBITDA (incl. Other Income): ₹8.92 crore; EBITDA margin 6.09%.
• PAT: ₹6.17 crore; YoY growth 306.72% from ₹1.52 crore.
• GMV disclosed at ₹252 crore in Q1 FY27.

Operational & strategic developments

• Diversified travel platform spanning Corporate Travel, MICE, B2B, Leisure, Government & Institutional Projects.
• Developing a B2C Online Travel Agency platform.
• Punjab Yatra program valued at ₹92 crore, ~1.85 lakh yatris, with revenue visibility.
• MICE programme wins in Oceania worth ₹32 crore; 950–1,000 delegates; execution completed in Q1 FY27.
• Onboarded 100+ corporate clients since April 2026.
• Expanded pan-India presence across Noida, Delhi, Ahmedabad, Mumbai, Kolkata, Bengaluru, Bhubaneswar.
• Strengthened Corporate Travel through Self Booking Tool (SBT) enhancements.
• Focus on scaling verticals; improving technology integration and cross-selling opportunities.

Outlook & pipeline

• Management expects momentum to continue into Q2 FY27; strong pipeline provides visibility.
• Revenue visibility from Punjab Yatra and MICE supports near-term outlook.
• Diversification reduces reliance on any single vertical.