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AI ka kamaal, Profit mein zabardast tezi!
Ixigo ka stock Friday ko 4.43% bhag kar ₹171.05 par pahunch gaya, Q4 FY26 ke solid results ke baad. Company ne history ka sabse highest profit after tax (PAT) record kiya hai, jo ki ₹32.1 crore hai, pichle saal se 91% zyada. Revenue 34% badh kar ₹1,228 crore ho gaya aur Gross Transaction Value (GTV) 25% jump kar ke ₹18,692.7 crore pahunch gaya. Adjusted EBITDA bhi 28% badha aur cash flow from operations 60% jump kar gaya ₹195.7 crore tak. Flight aur bus dono segments mein zabardast growth dikhi hai FY26 mein.
Analysts ne target kam kar diya? Kyun?
Sab kuch achha hone ke baad bhi, JM Financial ke analysts ne 'Buy' rating to maintain ki hai, lekin target price ₹250 se ghatakar ₹200 kar diya hai. Iska reason hai Trenes ka consolidation jiske wajah se P/E multiple 55x se 50x ho gaya. FY27E–FY28E ke liye revenue aur adjusted EBITDA margin projections thoda badhaye gaye hain, lekin adjusted EPS estimates 11-12% kam kar diye gaye hain. Yeh sab AI mein kiye gaye bade investments aur Freshbus ke expected higher losses ke karan hai.
Growth mein slowdown aur margin ki chinta
Q4 FY26 mein consolidated GTV growth thoda kam ho kar 8.6% raha, jo Q3 FY26 ke 21.5% se kam hai. Iska reason pichle saal Maha Kumbh ka high base effect aur Middle East travel mein issues rahe. Bus aur flight GTV mein 26.1% aur 18.1% ki growth jari rahi, jabki Train GTV mein 5% ki girawat aayi. Trenes ka integration EBITDA margins ko manage karne mein madad karega.
AI Investments aur Future Profitability
Ixigo 'ixigo NEXT' jaise initiatives ke through AI ka use karke user experience aur operations ko behtar banane ka plan bana raha hai. Management ka aim hai ki AI se future growth drive ki jaaye aur market share badhaya jaaye. Analysts company ke revenue aur GTV expansion ko to maan rahe hain, lekin unki nazar ab is baat par hai ki company is top-line growth ko sustainable profits mein kaise convert karti hai. Analysts ke revised targets growth potential ko to dikhate hain, lekin sath hi technology aur market normalization mein kiye gaye strategic investments ke financial impact ko bhi consider karte hain.