Easy Trip Planners acquires stake in 3 cos through share swap; stock up 3%

Shares of Easy Trip Planners hit an intraday high of Rs 17.33 per share, rising 3.4 per cent on the BSE in Monday’s intraday trade. Easy Trip Planners share price surged after the company on Saturday said that it has signed a share purchase agreement with three entities including Pflege Home Health Care Center (for Rs 29.83 crore),  Jeewani Hospitality (for Rs 100 crore) and Planet Education Australia (for Rs 39.20 crore).

 

The travel agency said that it has acquired a 49.03 per cent, 50 per cent, and 49 per cent stake in the Pflege, Jeewani and Planet, respectively through a share swap agreement. It further stated that the objective of these acquisitions is to inorganically expand the existing business of the company.

 

Pflege is engaged in the business of medical tourism with assisting patients in the Indian subcontinent, Turkey, Thailand, Singapore and Malaysia and providing home healthcare to people of all ages in the comfort and convenience of their own homes. 

 

Meanwhile, Planet is engaged in the business of International Student recruitment, International Student placement, coaching for various entrance tests like IELTS, TOEFL, GMT, GRE, SAT etc.

 

On Sunday, Easy Trip Planners issued approximately 12.84 crore equity shares, with a face value of Rs 1 each, on a preferential basis to proposed allottees at a price of Rs 18.22 per share, aggregating up to Rs 234 crore.

 

The company disclosed that Jeewani Hospitality Private Limited was allotted 5,48,84,742 shares, while Pflege Home Health Care Center was allotted 54,88,474 shares of Easy Trip Planners. 

 

On the other hand Jacqueline Genevieve Fernandez received 27,44,237 shares, Rollins International Private Limited received 3,29,30,845 shares, Bhisham Sheoran received 1,08,83,918 shares, Gagandeep Singh was allotted 1,07,57,409 shares and Sanket Champaklal Shah received 1,07,57,409 shares of the company.

 

On the financial side, Easy Trip Planners, also known as EaseMyTrip, reported a 45.2 per cent decline in its consolidated net profit, which fell to approximately Rs 26 crore in the recently concluded second quarter of financial year 2024-25 (Q2FY25). 

 

However, the company’s net sales saw a modest increase of 2.1 per cent, reaching Rs 144.7 crore on a year-on-year basis for the July-September quarter. 

 

On the equities side, Ease Trip Planners’s stock has underperformed the market year to date as it has fallen 16 per cent, while slipping 11 per cent in the last one year. In comparison BSE Sensex has risen 12 per cent year to date and 16 per cent in a year. 

 

The company has a total market capitalisation of Rs 6,046.20 crore. Its shares are trading at a price to earnings multiple of 29.41 times and at an earning per share of Rs 0.58. 

 

At 11:13 AM; the shares of the company were trading 1.79 per cent higher at Rs 17.06 a piece. By comparison, the BSE Sensex was down 0.15 per cent at 81,582.90 level.