RateGain Travel Technologies Limited reported operating revenue of ₹1,823.6 crore for FY26, marking a 69.4% increase over the ₹1,076.7 crore recorded in FY25. The significant growth was primarily driven by the consolidation of the Sojern business from November 2025, which expanded the company's global footprint and data capabilities.

Adjusted EBITDA rose 54.4% to ₹358.3 crore, reflecting a margin of 19.6%. While reported profit after tax declined 7% to ₹194.4 crore due to acquisition-related amortization and interest costs, adjusted profit after tax grew 19.6% to ₹249.9 crore. Management emphasized that the underlying business generated strong free cash flow of ₹230 crore during the year.

Segment Performance and Geographic Mix

The financial year saw a structural shift in revenue composition following the integration of Sojern with Adara. MarTech emerged as the dominant segment, accounting for 69.1% of FY26 revenue, followed by Data-as-a-Service (DaaS) at 20.2% and Distribution at 10.7%. Geographically, North America contributed 58.8% of total revenue, while APAC accounted for 24.9%.

Note: FY25 Adjusted figures derived from YoY growth rates provided in source.

Integration and Deleveraging Progress

Management confirmed that the integration of Sojern was completed ahead of schedule, delivering $15 million in annualized cost synergies within the first 100 days. The company moved from a net cash position to a net debt position of ₹722.3 crore as of March 31, 2026, following the $280 million acquisition funded through internal accruals and external borrowings.

Deleveraging efforts have accelerated in the current fiscal year. By June 30, 2026, net debt reduced to ₹615.4 crore, with an additional $16 million repaid in July and early August. This brings the total repayment to 38% of the original facility. Free cash flow conversion in Q1FY27 stood at 78.8%, supporting the company's target to return to a net cash position within 30 months of the acquisition closing.

What the Numbers Show

A divergence exists between reported profitability and operational health. Reported PAT fell 7% despite a 69.4% revenue jump, driven entirely by non-cash amortization of intangible assets (goodwill of ₹1,581 crore) and interest expenses on acquisition debt. Conversely, free cash flow generation remained robust at ₹230 crore, indicating that the decline in bottom-line earnings is an accounting artifact of the acquisition structure rather than a deterioration in core business performance.

Strategic Outlook

RateGain aims to leverage its combined platform to cross-sell products across its 14,000+ customer base. Q1FY27 results indicated early traction, with operating revenue reaching ₹785 crore and adjusted EBITDA margin hitting a record 24.6%. The company continues to prioritize AI-driven product development, including Agentic ARI and RateIQ, while maintaining strict financial discipline to reduce leverage from operating cash flows.

RateGain Travel Technologies Limited announced the appointment of Chetan Garg as its new Chief Financial Officer, effective September 29, 2026. The appointment marks a significant leadership change for the AI-powered SaaS provider, with Garg set to lead the global finance function based in Noida. Concurrently, Ankit Aggarwal resigned as Interim CFO but will continue as Deputy Chief Financial Officer.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved these changes at a meeting held on September 28, 2026, which commenced at 12:32 pm and concluded at 12:46 pm. This filing updates the company's Key Managerial Personnel (KMP) details, identifying Bhanu Chopra as Chairman and Managing Director, alongside other key executives responsible for materiality determination and disclosure compliance.

Leadership transition and strategic focus

Chetan Garg brings nearly two decades of financial and business leadership experience across healthcare, consumer durables, and consulting. Most recently, he served as Chief Financial Officer of Optum India, part of UnitedHealth Group, where he played a key role in financial governance, risk and cost management, and capital allocation. He was instrumental in integrating acquired entities in India. Garg holds an MBA in Finance from Cornell University and a B. Tech from IIT Madras.

Before Optum, Garg held finance leadership roles at Whirlpool Corporation in the US and India, covering commercial business units, corporate treasury, manufacturing, internal audit, controllership, and global finance operations. His last role at Whirlpool was Vice President of Finance for Whirlpool Asia. He began his career as a management consultant with PwC and Deloitte India.

Bhanu Chopra, Founder and Managing Director, RateGain, stated, "Strong finance leadership is central to how we run RateGain as a global, listed company. Chetan has led finance across complex operations at Optum and Whirlpool, worked on integrating acquired businesses, and built the kind of governance the Board and our investors rely on."

Transition of interim leadership

The Board noted the resignation of Ankit Aggarwal from the position of Interim Chief Financial Officer and Key Managerial Personnel, effective close of business hours on Monday, September 28, 2026. In his resignation letter, Aggarwal stated that the step-down was consequent upon the finalization of the new Chief Financial Officer. He clarified that he would hold the position of Deputy Chief Financial Officer with the Company following this transition.

Key managerial personnel identified

The company listed three individuals as its primary Key Managerial Personnel. These roles are critical for ensuring regulatory compliance and accurate reporting to investors and market regulators.

Contact and registered office details

The filing provided the registered office address for correspondence regarding these disclosures. The company is located in Noida, Uttar Pradesh.

Registered Office: Plot No. 3, 4, 5, Club 125, Tower A, 4th Floor, Sector-125, Noida-201301, Uttar Pradesh.

Contact Information:

• Telephone: +91 120 505 7000
• Email: companysecretary@rategain.com

Regulatory context

This filing serves as a formal record for the National Stock Exchange of India and BSE Limited. By submitting this information, RateGain ensures that stakeholders have access to the correct points of contact for verifying the materiality of potential corporate actions. The document was digitally signed by Mukesh Kumar, acting in his capacity as General Counsel, Company Secretary and Compliance Officer.