Le Travenues Technology Limited · NSE:IXIGO
Le Travenues Technology — Q2 FY26 Earnings Presentation
41 slides from Le Travenues Technology's earnings presentation, Oct 29, 2025
Slide 1: Building Bharat ka Bharosa - Investor Presentation Q2 FY26
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides Some statements may discuss the Company’s market (“Presentation”) by Le Travenues Technology Limited (the opportunity and business prospects as forward-looking “Company”) are for informational purposes only and do statements, which are not g
Slide 3: Vision
Vision Our vision is to become the most customer-centric travel company, by offering the best customer experience to our users. 3
Slide 4: Our Business
Our Business Flights Hotels Trains Buses Who We Are We are a technology company focused on empowering travellers to plan, book and manage their trips. 4
Slide 5: What We Stand For
What We Stand For Leading OTA for Next Billion Users with 544.35 Mn Assisting travellers in making smarter travel Annual Active Users1 decisions by leveraging AI Empowering travellers to plan, book, & manage Culture and values defined by core tenets of trips across trains, flights, buses & hotels, cus
Slide 6: Our Journey
Our Journey 2007 – 2019 2020 – 2025 6
Slide 7: India's Largest Travel Platform
1 India’s Largest Travel Platform 746.08 Mn 85.80% Lifetime Repeat Downloads4 Transaction Rate3 MAU2 Towns4 80.22 Mn 2400+ 122.95 Mn Annual Lifetime Lifetime Passenger 93.99 % Transacted Registered Segments Deep penetration Users 4 Users 4 Booked 3 in Tier II / III2 50.4 Mn 339.82 Mn Note: 1. Basis
Slide 8: India's Leading OTA For The Next Billion Users
1 India’s Leading OTA For The Next Billion Users Fastest Growing on Revenue 2 & Gaining Market-Share in All Lines of Businesses 3 3 Fastest Growing 4 “One-stop” Multi-Brand Travel Ecosystem Note: 1. Highest Monthly Active Users for mobile apps across all key OTAs as of September 30, 2023 (Source: F&
Slide 9: Q2 FY26 vs Q2 FY25
Q2 FY26 vs Q2 FY25 H1 FY26 (YoY Growth) 43,474.97 2,827.41 1,095.84 284.76 -24.88 915.46 PBT* (ex loss of Cash Flow from Revenue from GTV Contribution Margin Adjusted EBITDA associate, exceptional Operations Operations items & tax) *Includes a one-off ESOP expense 23% ▲ 37% ▲ 20% ▲ 36% ▲ of INR 269.
Slide 10: Management Commentary - Q2 FY26
Management Commentary - Q2 FY26 Mr. Aloke Bajpai Mr. Rajnish Kumar Mr. Saurabh Devendra Singh Chairman, Managing Director Director & Group Co-Chief Group Chief Financial Officer & Group Chief Executive Officer Executive Officer “Despite Q2 facing some capacity headwinds, ixigo continued its “It was not
Slide 11: Recent Highlights & Announcements
Recent Highlights & Announcements Partnered with DMRC and AbhiBus added 7 new SRTCs - Enabled Aadhaar-based ONDC to launch Delhi Metro OSRTC, SBSTC, TSRTC, PRTC, IRCTC authentication, ticketing on the ixigo Trains & KSRTC, SNT & UTC, expanding recording 10,000+ successful ConfirmTkt apps. to 17 major
Slide 12: India's Most Loved Travel Apps
India’s Most Loved Travel Apps 5 Mn+ Ratings across apps 12
Slide 13: Leveraging Data Science & AI: Our Peace of Mind Stack
Leveraging Data Science & AI: Our Peace of Mind Stack 1 27.02 % Dynamic AI-based Pricing for Value Added Services Ancillary Attachment Rate Other Value Added Services No Question Asked Fully Flexible and Lock Fare Now, Full Refunds Freely Reschedulable Pay Later ● Food on Trains ● Seat & In-flight Me
Slide 14: Artificial Intelligence & Technology Driven Operations
Artificial Intelligence & Technology Driven Operations Technology Forms The Basis For Our Operating Leverage TARA PLAN AI driven personal travel assistant Generative AI based trip planner across chat & voice for personalized itineraries AI Revenue Optimisation Alternate Travel Plan Dynamic & personal
Slide 15: Our 3-Pronged AI Strategy
Our 3-Pronged AI Strategy Efficiency Revenue Disruption Agentic AI enabled efficiency in the entire AI optimized dynamic pricing for Predictive, Pre-emptive & software development lifecycle Value Added Services (Alternate Hyper-Personalised Products Travel Plan, Assured, Price Lock & 48.80% voice and
Slide 16: The ixigo Flywheel
Identify & Solve Travel Utility Problems Train running / PNR status, Crowdsourced Info, The ixigo Flywheel Bus schedules, Flight tracking, etc. Build Trust & Grow AI-Enhanced Customer NBU Users Organically Experience & Data Moats 544.35 Mn annual Highest rated app, fuelling active users 1 word of mo
Slide 17: Travel Trends That Set The Stage
Travel Trends That Set The Stage Rainy escapes, long weekends & advance festive bookings powered Q2 travel growth Monsoon Travel Extended Breaks Festive Bookings Travel demand across modes Long weekend travel demand Advance bookings across key grew 35-40% YoY, led by grew 35-40% YoY metros soared 65
Slide 18: Wheels of Growth: Bus Vertical Accelerates Ahead
Wheels of Growth: Bus Vertical Accelerates Ahead Bus passenger segments booked rose 46% YoY for Q2 FY26 Expanded Reach: Partnered with 7 new SRTCs, now aggregating 17 major state transport corporations for wider route connectivity. Product Innovation: Launched an industry-first ‘New Buses’ filter to h
Slide 19: Endeavor To Provide Best Customer Experience
Endeavor To Provide Best Customer Experience Providing Prompt Personalized Assistance Before, During & After the Trip 49h : 07m FY21 Average ………………………………..…...…... Customer Queries Refund Q2 FY26 handled by AI Time1 2h : 54m Q2 FY26 2.69 Mn % Queries 97.40% Q2 FY26 handled by AI Q2 FY26 Calls Answer
Slide 20: On Track to Become The Third-Largest Global Economy
India Macroeconomic I Outlook Rising Per Capita Incomes Will On Track to Become Shift the Income Pyramid The Third-Largest Discretionary Spending Inflection Point at ~$4K GDP / Per Capita High High 29Mn (7%) Global Economy & 8Mn (3%)V Upper mid Upper mid World’s 4th 61Mn (21%) 168Mn (44%) Lower mid L
Slide 21: Robust Growth Expected in Indian Travel & Tourism Market
Robust Growth Expected in Indian Travel & Tourism Market Indian Tourism & Transportation Size (INR Bn) Growth In Online Penetration Across Different Segments 952 Mn Passengers Travelled CAGR 9% 5,904 On Reserved Tickets 86% (FY23-28) 81% 81% 802 8% 70% 3,808 837 6% 539 44% 1,365 617 7% 32% 28% 992 1
Slide 22: OTAs driving faster growth in Online Travel
OTAs driving faster growth in Online Travel Indian OTA Market Outpacing the Overall Travel and Online Markets Indian Travel Market By Booking Mode Indian OTA Market Market size (INR Bn) Market size (INR Bn) 2,802 CAGR 18% FY23 CAGR FY28 (FY23–28) 204 202 Total Market: 9% 5,904 517 18% 3,808 Online T
Slide 23: ixigo's Accelerating Monetization & Premiumization
ixigo’s Accelerating Monetization & Premiumization Gross Transaction Value (INR Bn) Passenger Segments (Mn) 37.98%▲ 24.90%▲ MAUs and MTUs (Mn) Annual Spend per Transacting User (INR) 23
Slide 24: Operating Leverage Playing Out
Operating Leverage Playing Out Operating Cash Flow (INR Mn) Revenue from Operations (INR Mn) 30.00%▲ 53.78%▲ Contribution Margin (INR Mn) Adjusted EBITDA (INR Mn) 33.59%▲ 44.88%▲ 24
Slide 25: Quarter on Quarter Trajectory
Quarter on Quarter Trajectory Gross Transaction Value (INR Bn) Revenue from Operations (INR Mn) Contribution Margin (INR Mn) Adjusted EBITDA (INR Mn) 25
Slide 26: Robust YoY Growth Trajectory
Robust YoY Growth Trajectory 23x Revenue Growth vs Pre-COVID (FY19) Annual Active Users (Mn) Gross Transaction Value (INR Bn) CAGR CAGR 32.63% 83.73% Revenue from Operations (INR Mn) Adjusted EBITDA (INR Mn) CAGR CAGR (Since FY21) 68.20% 84.32% 26
Slide 27: Diversified Business Model With Multiple Growth Drivers
Diversified Business Model With Multiple Growth Drivers Q2 FY 26 vs. Passenger GTV Gross Revenue From Contribution Multiple Revenue Streams CM% Q2 FY 25 Segments (Mn) (INR Mn) Take Rate Operations (INR Mn) Margin (INR Mn) ▪ Agent Service charges 27.21 21,259.42 1,228.63 341.80 ▪ PG Charges Train 10%
Slide 28: Diversified & Evolving Business Mix - Q2 FY26
Diversified & Evolving Business Mix - Q2’FY26 Gross Transaction Value Revenue from Operations Contribution Margin 28
Slide 29: Consolidated Summary Statement of Profit & Loss
Consolidated Summary Statement of Profit & Loss INR Million, unless otherwise stated FY25 FY24 FY23 6 M FY 26 6 M FY 25 Q2 FY 26 Q2 FY 25 Revenue from Operations 9,142.46 6,558.73 5,012.50 5,972.13 3,883.48 2,827.41 2,064.70 Other Income 180.20 92.18 163.23 121.31 68.47 51.70 44.45 Total Income 9,322
Slide 30: Segment Wise Operating and Financial Snapshot
Segment Wise Operating and Financial Snapshot INR Million unless otherwise stated FY25 FY24 FY23 6 M FY 26 6 M FY 25 Q2 FY 26 Q2 FY 25 Flight Passenger Segments (Million) 8.44 5.77 3.26 5.20 3.60 2.41 2.03 Flight GTV 56,506.95 35,269.99 20,154.88 34,404.42 22,588.79 15,923.89 12,374.83 Flight Gross
Slide 31: Financial Summary - Contribution Margin to EBITDA
Financial Summary - Contribution Margin to EBITDA INR Million unless otherwise stated FY25 FY24 FY23 6 M FY 26 6 M FY 25 Q2 FY 26 Q2 FY 25 Total Contribution Margin 4,013.48 2,938.48 2,180.78 2,376.72 1,779.14 1,095.84 910.82 + Other Income 180.20 92.18 163.23 121.31 68.47 51.70 44.45 - Employee Ben
Slide 32: Financial Summary - Cash Flow
Financial Summary - Cash Flow For six months period ended For six months period ended Particulars (INR Million) September 30, 2025 September 30, 2024 Cash flows from operating activities Profit / (loss) before tax 223.71 363.76 Operating adjustments : Share of loss of an associate, net of tax 38.04 39
Slide 33: Financial Summary - Balance Sheet
Financial Summary - Balance Sheet Particulars (INR Million) As at As at September 30, 2025 March 31, 2025 Assets Tangible and Intangible assets 364.13 268.64 Goodwill 2,595.75 2,595.75 Investment (Current & Non-current) 1,242.64 1,194.78 Other financial assets (Current & Non-current) 1,186.10 327.77
Slide 34: Experienced Key Managerial Personnel
Experienced Key Managerial Personnel Mr. Aloke Bajpai Chairman, Managing Director Mr. Rajnish Kumar & Group Chief Executive Officer Director & Group Co-Chief Executive Officer • Ex- Amadeus • Ex- Amadeus • MBA, INSEAD • B.Tech, Computer Science, IIT Kanpur • B.Tech, Electrical Engineering, IIT Kanpur
Slide 35: Seasoned Board of Directors
Seasoned Board of Directors Mr. Shailesh Lakhani Mr. Frederic Lalonde Non-Executive Director Non-Executive Director • Founder and CEO of Hopper, an • MBA, Harvard University airfare and hotel fare prediction mobile • Bachelor’s degree, University of Waterloo application Mr. Mahendra Pratap Mall Mr.
Slide 36: Becoming a One Stop Travel Solution Provider
Becoming a One Stop Travel Solution Provider Continue To Deepen Penetration & Improve Operating Leverage Through Enhance Our Offerings For The ‘NBUs’ Investment In Deep Tech & AI Business Train Engage Existing Users Travel To Return To Book Agentic AI experiences with Tours and hyper-personalized mu
Slide 37: Conference Call Details
Details of Conference call Conference Call Details Date Wednesday, 29 October 2025 Le Travenues Technology Limited Time 07:00 PM IST (NSE: IXIGO, BSE: 544192) will 21:30 PM HK/SG host a conference call for analysts 09:30 AM US (EST) and investors on Wednesday, 29th October 2025, at 7:00 pm (IST) fol
Slide 38: Glossary
Glossary Term Description Adjusted EBITDA Adjusted EBITDA is calculated as the profit for the period or year plus tax expense, finance cost, depreciation, amortization expenses, Employee Stock Option Scheme less other income, exceptional items, share of profit/loss of associate. Adjusted EBITDA Margin
Slide 39: Glossary
Gross Revenue Gross revenue represents Revenue from operations plus discounts. Gross Take Rate Gross take rate refers to Gross Ticketing Revenue divided by Gross Transaction Value during the relevant period/ year Gross Transaction Value Gross transaction value refers to the total amount paid (includ
Slide 40: Glossary
Passenger Segments Passenger segments refers to the total number of point-to-point passenger tickets booked between two cities, airports, train stations or bus stations, as applicable, whether or not such a ticket is part of a larger or longer itinerary. For example, a booking made with two passenge
Slide 41: Thank You
THANK YOU For additional information please contact: ir@ixigo.com +91 92668 66934 41
Le Travenues Technology — Q2 FY26 Earnings Presentation on 6ix