Mach Conferences Reports Mixed H1 FY26 Results, Expands into New Verticals

Mach Conferences & Events Limited (MCEL) reported a mixed financial performance for the first half of fiscal year 2026, with consolidated revenue of INR 97.08 crores and a profit after tax (PAT) of INR 7.82 crores. The company faced challenges due to geopolitical tensions but is actively pursuing growth through diversification and expansion strategies.

Financial Performance

MCEL's H1 FY26 results showed a decline in both topline and bottomline compared to the previous year, primarily attributed to travel disruptions caused by the India-Pakistan war affecting operations in April and May. Despite these challenges, the company maintained a PAT margin of approximately 8%.

Key Financial Metrics for H1 FY26:

Metric	Consolidated	Standalone
Revenue	INR 97.08 crores	INR 94.81 crores
PAT	INR 7.82 crores	INR 7.73 crores

Business Expansion and New Initiatives

MCEL has been actively pursuing growth opportunities and diversifying its business portfolio:

Government Sector Entry: The company has recently ventured into government and institutional tenders, securing contracts worth approximately INR 80 lakhs in just two months.
Acquisition of Travexel: MCEL acquired Travexel, a medical conference company, expanding its presence in the healthcare events sector. Travexel's order book includes about INR 22-25 crores of business for the current year and a similar amount for the next year.
Infrastructure Upgrade: The company has moved to a larger office space of 13,000 square feet, tripling its previous capacity to accommodate future growth and the upcoming OTA platform team.
BookMyYatra OTA Platform: MCEL plans to launch its online travel agency (OTA) platform, BookMyYatra, in December. This move aims to leverage the company's existing customer base and partnerships.

Future Outlook

Amit Bhatia, Chairman and Managing Director of MCEL, expressed optimism about the company's future:

Targeting 25% growth in top line for the current fiscal year
Aiming for PAT margins of 12-13%
Focusing on profitability while expanding into new verticals
Expecting the medical conferences division to contribute significantly to profitability

Mr. Bhatia stated, "We aspire to reach the profitability levels of FY24. This year, we are not too worried about the top line. We are looking at margins."

MCEL's diversification strategy, including entry into government contracts, medical conferences, and the planned OTA platform, appears to be a calculated move to offset the volatility in its core MICE (Meetings, Incentives, Conferences, and Exhibitions) business.

As the company navigates through the challenges posed by geopolitical events and market dynamics, investors will be keenly watching how these new initiatives contribute to MCEL's growth and profitability in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.24%	-4.85%	-9.65%	-50.43%	-52.31%	-65.15%

Mach Conferences & Events Limited has reported its financial results for the first half of fiscal year 2026, revealing the impact of geopolitical tensions on its operations. The company, known for its comprehensive MICE (Meetings, Incentives, Conferences, and Exhibitions) solutions, faced challenges due to the India-Pakistan conflict, which led to deferred project executions and delays in travel-related activities.

Financial Performance

The company's financial performance for H1 FY26 shows a mixed picture of resilience and challenges:

Metric	H1 FY26	H1 FY25	YoY Change
Revenue from Operations	₹9,708.00 lakh	₹11,930.00 lakh	-18.6%
EBITDA	₹1,134.00 lakh	₹1,262.00 lakh	-10.1%
EBITDA Margin	11.49%	10.58%	+91 bps
PAT	₹782.00 lakh	₹853.00 lakh	-8.3%
PAT Margin	8.06%	7.15%	+91 bps
Basic EPS	₹3.70	₹4.48	-17.4%

Despite the revenue decline, Mach Conferences & Events demonstrated operational discipline by improving its EBITDA and PAT margins.

Operational Highlights

Secured seven high-value mandates worth nearly ₹40 crore across BFSI, Cement, and Auto sectors.
These new projects involve over 6,100 participants across global and domestic destinations.
Launched a dedicated Government Projects Division, marking entry into the institutional and public sector event management space.
Appointed as the official Hospitality Management Partner for the International Film Festival of India (IFFI) 2025.

Financial Position

As of September 30, 2025:

Cash and bank balances stood at ₹2,165.00 lakh, reflecting liquidity discipline.
Higher receivables reported due to timing of collections from large event contracts.

Management Commentary

Amit Bhatia, Chairman & Managing Director, stated, "While H1 was a softer half operationally, we have used this period to strengthen our systems, vendor partnerships, and working capital management. We sustained healthy margins and continued to execute high-value projects across domestic and international markets."

Industry Outlook

The Indian MICE industry is projected to grow from USD 110.30 Billion in 2024 to USD 183.10 Billion by 2033, with a CAGR of 5.20%. Government initiatives like the Incredible India Campaign and e-Visa facilities for over 160 countries are expected to boost tourism and the MICE sector.

Conclusion

Mach Conferences & Events Limited has demonstrated resilience in the face of geopolitical challenges. While revenue declined in H1 FY26, the company's improved margins and strategic initiatives, including the new Government Projects Division, position it well for potential growth as the market stabilizes. Investors may want to monitor the evolving geopolitical situation and its impact on the MICE industry when considering this stock.