v3.26.1
Group information
 12 Months Ended
Mar. 31, 2026
Group Information  
Group information

6. Group information

 

A. The Group’s subsidiaries along with the proportion of ownership interests and the voting rights held directly or indirectly by the Parent Company are disclosed below. The country of incorporation is also their principal place of business. The consolidated financial statements of the Group includes:

Information about group subsidiaries   % Equity interest  
Name   Principal activities   Country of incorporation  

March 31,

2025

    

March 31,

2026

  
               
Travel Holding Cyprus Limited###  Investment Company  Cyprus   100    100 
Yatra USA Corp  Investment Company  USA   100**   100**
Yatra USA, LLC  Travel & Travel related services  USA   100    100 
Asia Consolidated DMC Pte. Ltd.  Travel & Travel related services  Singapore   100    100 
Middle East Travel Management Company Private Limited  Travel & Travel related services  India   100    100 
Yatra Online Limited##  Travel & Travel related services  India   64.46*   62.66*
TSI Yatra Private Limited  Travel & Travel related services  India   64.46#   62.66#
Yatra Middle East L.L.C-FZ  Computer programming, consultancy and related activities, arranging and assembling tours and forwarding of freight  United Arab Emirates   64.46#/   62.66#/
Yatra MICE and Holidays Limited (formerly known as Yatra MICE and Holidays Private Limited)  Travel & Travel related services  India   63.82***   62.02***
Globe All India Services Limited  Travel & Travel related services  India   64.46*   62.66*

 

*Remaining shares of 37.35% (March 31, 2025: 35.54%) are held by the public and institutional shareholder (non-controlling shareholder) as at March 31, 2026. Refer to note 29.
   
**Includes 18.63% (March 31, 2025: 18.63%) Class F Shares owned by Terrapin 3’s founder stockholders having no voting right. Terrapin 3’s founder stockholders also own Class F Shares in the Company having no economic value and have an exchange right to acquire Ordinary Shares of the Company. During the year ended March 31, 2025, George Brokaw, Class F shareholder of Yatra USA Corp has exchanged 15,000 Class F Shares with the Ordinary Shares of Yatra Online, Inc.
   
***Remaining shares of 37.98% (March 31, 2025: 36.18%) are held are held indirectly by the non-controlling shareholder as at March 31, 2026 through Yatra Online Limited.
   
#Remaining shares of 37.34% (March 31, 2025: 35.54%) are held indirectly by the non-controlling shareholder as at March 31, 2026 through Yatra Online Limited.
   
## 

During the fiscal year 2026, Yatra Online Limited and its five wholly owned subsidiaries were amalgamated which resulted in change in group information from the fiscal year March 31 2025 (Refer: Note 45).

   
### During the fiscal year 2026, THCL sold 2,833,000 shares (representing 1.80%) of Yatra Online Limited in an open market, which resulted in change in percentage of equity interest.

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amounts in INR thousands, except per share data and number of shares)

 

B. Joint Venture

 

The Group had a 50% interest in Yatra MICE and Holidays Limited (formerly known as Adventure & Nature Network Private Limited) until June 18 2024 and became subsidiary w.e.f. June 19 2024. For more detail, refer to Note 14.

 

C. Non-controlling interests

 

Details of subsidiaries that have material non-controlling interests

 

The non-controlling interests that are material to the Group primarily relates to Yatra India (Indian subsidiary and its step-down subsidiaries) as at and for the year ended March 31, 2026.

 

The table below shows summarized consolidated financial information of Yatra India, before intercompany eliminations:

 

(i) Consolidated statement of financial position

 

         (USD) 
   As at March 31 
   2025   2026   2026 
   (INR)   (INR)   (USD) 
Non-current assets   2,982,968    3,117,610    33,226 
Current assets   10,086,815    10,107,027    107,717 
Non-current liabilities   415,344    473,281    5,044 
Current liabilities   4,979,925    4,509,083    48,056 
Total equity   7,674,514    8,242,273    87,843 
                
Attributable to:               
Non-controlling interests   2,501,141    2,813,032    29,980 
Equity attributable to equity holders of the parent   5,173,373    5,429,241    57,863 

 

(ii) Consolidated statement of profit/(loss) and other comprehensive income or loss

 

            2026 
   For the year ended March 31 
   2024   2025   2026   2026 
   (INR)   (INR)   (INR)   (USD) 
Revenue   4,186,676    7,950,976    10,065,098    107,270 
Other income   102,294    113,653    51,672    551 
Expenses   (4,195,487)   (7,779,148)   (9,710,950)   (103,495)
Finance income   157,132    203,964    206,483    2,201 
Finance cost   (245,957)   (101,256)   (125,510)   (1,338)
Listing and related expenses   (54,238)   -    -    - 
Tax expense   (32,514)   14,472    (18,290)   (195)
Profit/(Loss) for the year   (82,094)   402,661    468,503    4,994 
Other comprehensive income for the year, net of tax   (5,958)   (3,058)   (3,688)   (39)
Total comprehensive income / (loss) for the year, net of tax   (88,052)   399,603    464,815    4,955 
                     
Profit/(Loss) for the year attributable to:                    
Non-controlling interests   (29,175)   130,426    166,971    1,780 
Equity holders of the parent   (52,919)   272,236    301,532    3,214 
                     
Total comprehensive income / (loss) attributable to:                    
Non-controlling interests   (31,293)   129,344    165,594    1,765 
Equity holders of the parent   (56,759)   270,259    299,221    3,190 

 

(iii) Consolidated statement of cash flows

 

   2024   2025   2026   2026 
   For the year ended March 31 
   2024   2025   2026   2026 
   (INR)   (INR)   (INR)   (USD) 
Net cash generated from operating activities   (1,424,478)   (886,480)   760,655    8,107 
Net cash used in investing activities   (2,337,311)   936,981    (448,850)   (4,784)
Net cash generated from financing activities   4,663,085    (1,022,045)   (544,340)   (5,801)
Net increase in cash and cash equivalents   901,296    (971,544)   (232,535)   (2,478)

 

D. Change in interest without loss of control

 

Pursuant to sale of shares of Indian subsidiary by THCL, non-controlling interest share has increased from 35.54% to 37.34%. Following is a schedule of change in interest without loss of control:

 

Following is a schedule of change in interest without loss of control:

 

For the year ended March 31, 2026

 

      
Cash consideration received from non-controlling shareholders*   455,026 
Less: Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   146,209 
Difference recognized in Non-controlling interest reserve within equity   308,817 

 

*disclosed as “Change in non-controlling interest” under financing activities in Consolidated Statement of Cash flow

 

Additional NCI measurement on the date of change in interest:

 

      
Proportionate interest of non-controlling shareholder in net asset of Indian subsidiary   146,209 
Less: Transaction costs attributed to NCI   - 
Amount recognized as NCI   146,209 

 

 

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amounts in INR thousands, except per share data and number of shares)