Company Analysis

MakeMyTrip Limited (MMYT)

Nasdaq: MMYT · Transportation Services · Gurgaon, IN · filing with the SEC since 2010
Grade6.1
◀ Past 4.4● Present 6.5▶ Future 6.9
1 est.

The grade of MakeMyTrip Limited

Nine metrics read from its own filings, by tense
Headline grade
6.1/10
◀ Past4.425% of the headline
● Present6.545% of the headline
▶ Future6.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.4/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
4.7/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2020-08-03.

weight 45% of this tense · 47th percentile among 18 sector filers · read for itself

From the record

MakeMyTrip Limited's filings since 2017 show 1 warning event: a late-report notice (Form NT 10-K or NT 10-Q, the latest 2020-08-03) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.1/10

What has it actually done, year after year?

+12.6% a year over 10 filed years; profitable in 2 of 10.

weight 33% of this tense · 41st percentile among 15 sector filers · read for its customers

From the record

MakeMyTrip Limited's 10 filed years say what it did: revenue went from $336 million in fiscal 2016 to $978 million in fiscal 2025, up 12.6% a year; it rose in 7 of 9 years; the deepest fall was 76% from fiscal 2018 to fiscal 2021; net income was positive in 2 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span12.6%top 39% of its family
  • the share of years revenue rosebottom 37% of its family
  • the share of filed years with a profitbottom 30% of its family
  • the deepest fall from a revenue peak75.8%bottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
4.4/10

How has it treated the people who own it?

Share count grew 1.8% a year. 6% of cash flow returned. Insiders: 2 sales, 0 purchases.

weight 22% of this tense · 44th percentile among 13 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-03-31, MakeMyTrip Limited's diluted share count grew about 1.8% a year, and dividends and buybacks returned about 6% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales and 0 purchases of their own stock on the open market in the year to 2026-11-05 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 47% of its family
  • cash returned against operating cash flowbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.5/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
8.0/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 34%: owes 34¢ per asset dollar.

weight 33% of this tense · 80th percentile among 17 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-03-31, MakeMyTrip Limited earned about 8 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 39 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 34 cents per dollar of assets, and net share issuance: its share count shrank 3.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 3% of its family
  • return on equitytop 43% of its family
  • gross profit against assetstop 7% of its family
  • the share count against the year beforetop 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.0/10

How strong is its position in its industry?

top 40% of 15 in its family; net margin 9.7%.

weight 45% of this tense · 60th percentile among 15 sector filers · read for its customers

From the record

MakeMyTrip Limited's standing among 15 graded names in its industry family: revenue of $978 million in fiscal 2025 ranks in the bottom 27% by size; a net margin of 9.7% ranks in the top 30%; revenue growth of 47.6% a year over the last 3 filed years ranks in the top 17% (its annual reports).

What it rests on

  • revenue against the family$978Mbottom 27% of its family
  • net margin9.7%top 30% of its family
  • three-year revenue growth47.6%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 13 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 13 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 13 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: MakeMyTrip Limited's leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 13 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
8.7/10

How much room does it have to grow?

top 13% of 15 in its family for room to expand.

weight 33% of this tense · 87th percentile among 15 sector filers · read for itself

From the record

MakeMyTrip Limited's room to grow, from the newest filed statements (fiscal 2025): cash of $509 million against no long-term debt tagged leaves 27.8% of its assets as net cash, top 3% of its family; cash from operations less capital spending is 18.5% of revenue (top 30%); a gross margin of 72% (top 7%) (its annual report).

What it rests on

  • cash less debt against assets27.8%top 3% of its family
  • cash from operations less capital spending against revenue18.5%top 30% of its family
  • gross margin72.0%top 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
7.4/10

What could actually drive growth from here?

top 26% of 15 in its family for growth drivers.

weight 33% of this tense · 74th percentile among 15 sector filers · read for its customers

From the record

MakeMyTrip Limited's growth drivers, from the filed years to fiscal 2025: revenue grew 47.6% a year over the last three filed years against 12.6% over all 10, speeding up (top 25% of its family); the newest year grew 25% (top 23%); capital spending grew 13% a year (top 30%) (its annual reports). MakeMyTrip Limited tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+35.0 points a yeartop 25% of its family
  • the newest year's revenue growth25.0%top 23% of its family
  • three-year growth of capital spending13.0%top 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.6/10

Did its newest year beat what its own record pointed to?

bottom 46% of 14 in its family for expectations against reality.

weight 33% of this tense · 46th percentile among 14 sector filers · read for its shareholders

From the record

MakeMyTrip Limited's newest year against its own record: revenue of $978 million in fiscal 2025 came in 22.1% below the $1.3 billion its prior three years' pace pointed to (bottom 18% of its family); net income of $95 million against a prior three-year average of $53 million (top 32%); a net margin of 9.7% against 3.6% before (top 46%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-22.1%bottom 18% of its family
  • net income against the prior three years' average+79%top 32% of its family
  • net margin against its prior average+6.1 pointstop 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton MMYT · research, not advice