Yatra(US:YTRA)2025-07-31 19:36Financial Performance - Adjusted Margin for fiscal year 2025 is projected at INR 3,588,182 thousand, with a revenue percentage of 26.8% from Hotels and Packages [743]. - The Adjusted EBITDA Profit for fiscal year 2025 is projected at INR 343,391 thousand, recovering from a loss of INR 366,505 thousand in fiscal year 2024 [748]. - Adjusted Results from Operations for fiscal year 2024 were $70,451 thousand, a significant decrease from $232,720 thousand in 2023 [749]. - The company reported an Adjusted Loss for the Year of $(83,007) thousand for fiscal year 2024, compared to an Adjusted Loss of $(111,522) thousand in 2023 [749]. - Basic loss per share (as per IFRS) for fiscal year 2024 was $(5.60), an increase from $(4.59) in 2023 [749]. - Adjusted Basic loss Per Share improved to $(2.56) in fiscal year 2024 from $(1.81) in 2023 [749]. - The profit for the year (as per IFRS) for fiscal year 2025 is projected to be $23,501 thousand, a turnaround from losses in the previous two years [749]. Risk Management - The Company is exposed to credit risk primarily from trade receivables, deposits with banks, and foreign exchange transactions [724]. - Customer credit risk is managed through established policies and an extensive credit rating scorecard [725]. - The Company does not have any hedging agreements to cover foreign exchange rate fluctuations, exposing it to potential risks [728]. - The Company maintains sufficient cash and marketable securities to manage liquidity risk, ensuring operational needs are met for at least the next 12 months [727]. - The Company believes that cash generated from operations will satisfy its working capital needs and other liquidity requirements [727]. Corporate Governance - The Board of Directors consists of five members, with a majority qualifying as independent directors [808]. - The company has a diverse board with members having extensive experience in various sectors, which is expected to contribute to strategic decision-making [751]. - The audit committee includes members with financial literacy and at least one financial expert, Murlidhara Kadaba [818]. - The compensation committee is responsible for reviewing and recommending compensation policies for officers and employees [822]. - The company has adopted a Compensation Recovery Policy in accordance with SEC rules under the Securities Exchange Act of 1934 [845]. - The corporate governance guidelines and Code of Business Conduct and Ethics are available on the company's website [832][833]. Compensation and Benefits - The total compensation for non-executive directors for fiscal year 2025 was $168,576, reflecting the company's commitment to governance and oversight [766]. - The Chairman of the Board received an additional cash compensation of $12,500 per year, highlighting the company's structured compensation approach [765]. - Dhruv Shringi, the executive director, received a Gross Annual Remuneration of INR 35.13 million for the fiscal year ending March 31, 2025, with a performance bonus of up to 50% of this amount [768]. - Total compensation for Dhruv Shringi increased from INR 151.97 million in FY 2024 to INR 185.71 million in FY 2025, representing a growth of approximately 22% [770]. - Manish Amin, Chief Information and Technology Officer, saw his total compensation decrease from INR 47.93 million in FY 2024 to INR 30.59 million in FY 2025, a decline of about 36% [770]. - Rohan Mittal, Group CFO, who ceased to hold the position on April 10, 2025, had a total compensation increase from INR 30.03 million in FY 2024 to INR 41.33 million in FY 2025, an increase of approximately 38% [770]. - The company incurred employee share-based compensation costs of $229,260 thousand in fiscal year 2024, up from $152,054 thousand in 2023 [749]. - The maximum gratuity payable under the plan is INR 2 million per eligible employee [802]. - Gratuity payments to employees totaled INR 17.2 million in fiscal year 2025, compared to INR 10.5 million in 2024 and INR 11.3 million in 2023 [802]. Shareholder Information - As of March 31, 2025, the company has 62,055,750 Ordinary Shares issued and outstanding [836]. - MAK Capital One L.L.C. holds 12,170,301 shares, representing 19.61% of the outstanding shares [837]. - Marval Guru Fund owns 5,800,000 shares, accounting for 9.35% of the total [837]. - The total beneficial ownership of current directors and executive officers as a group is 16,441,247 shares, or 26.47% [837]. - Dhruv Shringi, the executive director, holds 2,686,856 shares, which is 4.33% of the outstanding shares [837]. - The total number of Ordinary Shares held by current Directors and Officers amounts to 16,391,247 [845]. - The company has a diverse ownership structure with multiple entities holding significant shares [841]. Strategic Initiatives - The company plans to continue its market expansion and product development strategies to enhance future performance [750]. - The restructuring committee was constituted in June 2024 to develop strategic recommendations for cost rationalization and growth [825].