ECOSMOBLTY
Ecos (India) Mobility & Hospitality financials
- Market cap
- ₹663 Cr
- Sector
- Services
- Calls analysed
- 7
Ecos (India) Mobility & Hospitality Limited Q1 FY27
What went well
- Revenue grew 16.7% YoY to INR 2,113.72 million, demonstrating healthy operating growth.
- Trip volumes increased significantly by 27% YoY, indicating strong underlying demand.
- The company added 61 new clients, expanding its active client base by 18% YoY to 1,400 enterprise organizations.
What to watch
- EBITDA margin declined to 10.3% in Q1 FY27, down from 12.0% in Q1 FY26 and 11.7% in Q4 FY26, falling below the initial 11-13% guidance.
- Higher operating costs and intense competitive pricing pressure, particularly in the ETS segment, impacted profitability.
What Ecos (India) Mobility & Hospitality Limited does
Ecos (India) Mobility & Hospitality Limited runs corporate mobility services across two segments: Employee Transportation Services (ETS), which handles daily home-office-home commutes for corporate staff on 24x7 multi-shift schedules, and Chauffeured/Corporate Car Rentals (CCR), which provides economy-to-luxury cars with professionally trained chauffeurs for business travel. It earns by contracting its managed fleet and drivers to corporates, GCCs, IT/ITES, BFSI, manufacturing and other enterprise clients. The fleet itself is asset-light, sourced overwhelmingly from vendor partners rather than company ownership, and is run on proprietary technology platforms (RentNet, CabDrive Pro, an ECO driver app and an online booking portal) for reservations, dispatch and fleet management.
Segments
- Employee Transportation Services (ETS)
- Chauffeured/Corporate Car Rentals (CCR)
- Vehicle fleet size
- 20,000+ vehicles (FY26)
- Vendor-operated share of fleet
- ~95% vendor-operated, 5% owned
- City coverage
- 131 cities in India (14 with own offices), presence in 30+ countries worldwide
- Trips completed
- 5.23 million (FY26)
- Active clients
- 1,750+ organizations
- Marquee clients
- 70+ Fortune 500 and 75+ BSE 500 companies
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 4 delivered 5 missed 4 open- CCR Segment Mix missed said Q4 FY25 Promised: 50-50 ideal, maybe 55% next quarter Q1 FY27: Mix dropped to 41%, remaining well below the 50% target.
- FY27 Revenue Growth revised down said Q4 FY26 Promised: 18% to 20% Q1 FY27: Guidance cut to 15-18% amid competitive pressure. Q1 actual growth was 16.7%.
- FY26 Revenue Growth delivered said Q4 FY25 Promised: 15% to 18% Q4 FY26: Delivered 23.58% YoY growth for FY26, exceeding revised guidance of 17-20%
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 16.6%, net profit up 15.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 160 | 168 | 177 | 181 | 214 +34% | 206 +23% | 207 +17% | 211 +17% |
| EBITDA | 24 | 22 | 26 | 22 | 25 +4% | 23 +5% | 24 −8% | 22 +0% |
| Net profit | 16 | 13 | 18 | 13 | 15 −6% | 14 +8% | 16 −11% | 15 +15% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −61.1% 1Y
1Y: ₹286.75 on 10 Sept 2025 → ₹111.68. High ₹290.2 (16 Sept 2025), low ₹104.84 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.0%
- 12 Aug
- Q4 FY26
- −11.4%
- 29 May
- Q3 FY26
- −7.7%
- 11 Feb
- Q2 FY26
- −1.8%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 20.7% a year over 2 years, FY24 to FY26. Operating margin narrowed to 11.6%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹555 Cr | ₹654 Cr | ₹808 Cr |
| Operating profit | ₹90 Cr | ₹93 Cr | ₹94 Cr |
| Operating margin | 16.2% | 14.2% | 11.6% |
| Interest | ₹3 Cr | ₹2 Cr | ₹0 Cr |
| Depreciation | ₹19 Cr | ₹21 Cr | ₹28 Cr |
| Net profit | ₹62 Cr | ₹61 Cr | ₹58 Cr |
| Net margin | 11.2% | 9.3% | 7.2% |
| Cash from operations | ₹67 Cr | ₹75 Cr | ₹68 Cr |
| Free cash flow | ₹48 Cr | ₹45 Cr | ₹35 Cr |
| ROCE | 43.0% | 35.0% | 30.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹62 Cr | ₹72 Cr | ₹115 Cr | ₹165 Cr | ₹218 Cr | ₹253 Cr |
| Borrowings | ₹16 Cr | ₹4 Cr | ₹38 Cr | ₹30 Cr | ₹8 Cr | ₹8 Cr |
| Other liabilities | ₹30 Cr | ₹37 Cr | ₹76 Cr | ₹89 Cr | ₹124 Cr | ₹141 Cr |
| Total liabilities | ₹108 Cr | ₹112 Cr | ₹230 Cr | ₹297 Cr | ₹362 Cr | ₹413 Cr |
| Fixed assets | ₹22 Cr | ₹15 Cr | ₹38 Cr | ₹46 Cr | ₹63 Cr | ₹63 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹21 Cr | ₹30 Cr | ₹41 Cr | ₹90 Cr | ₹69 Cr | ₹107 Cr |
| Other assets | ₹65 Cr | ₹68 Cr | ₹150 Cr | ₹160 Cr | ₹230 Cr | ₹244 Cr |
| Total assets | ₹108 Cr | ₹112 Cr | ₹230 Cr | ₹297 Cr | ₹362 Cr | ₹413 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −5.37 pp while the public added +4.12 pp.
- Promoters
- 67.8%
- FIIs
- 1.0%
- DIIs
- 12.6%
- Public
- 18.6%
Since Jun 2025
- FIIs −5.37 pp
- Public +4.12 pp
- DIIs +1.25 pp
How it drifted, 8 quarters
Over this window FIIs fell from 4.3% to 1.0% — −3.3 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 67.8%, FIIs 4.3%, DIIs 10.7%, Public 17.3%.Dec '24: Promoters 67.8%, FIIs 7.8%, DIIs 11.2%, Public 13.2%.Mar '25: Promoters 67.8%, FIIs 6.3%, DIIs 11.3%, Public 14.7%.Jun '25: Promoters 67.8%, FIIs 6.4%, DIIs 11.4%, Public 14.4%.Sep '25: Promoters 67.8%, FIIs 5.4%, DIIs 12.1%, Public 14.7%.Dec '25: Promoters 67.8%, FIIs 2.4%, DIIs 12.8%, Public 17.0%.Mar '26: Promoters 67.8%, FIIs 1.8%, DIIs 12.7%, Public 17.7%.Jun '26: Promoters 67.8%, FIIs 1.0%, DIIs 12.6%, Public 18.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Rameet Kaur +0.34 pp 1.44% held
- Dalmus Performance Focused Fund AIF +0.17 pp 1.77% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Ecos (India) Mobility & Hospitality Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajesh Loomba | 32.28% | unchanged |
| Aditya Loomba | 25.51% | unchanged |
| Bandhan Large & Mid Cap Fund Mutual fund | 9.92% | unchanged |
| Dalmus Performance Focused Fund AIF | 1.77% | +0.17 pp |
| Rameet Kaur | 1.44% | +0.34 pp |
| Ashish Seth and Associates | 0.00% | unchanged |
| Aditya Loomba HUF | 0.00% | unchanged |
| Milan Infrabuild Private Limited | 0.00% | unchanged |
| CRA Agro Farms Private Limited | 0.00% | unchanged |
| Blueheaven Realcon Private Limited | 0.00% | unchanged |
| Adiraj Management Consultants LLP | 0.00% | unchanged |
| Optimist Softech Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
ExpensiveTo justify its price of ₹112, this stock must grow earnings at 3% every year for 7 years. Our analysis caps realistic growth at ~-3%. At that growth it is worth ₹78 — downside of 30%.
- Growth the price implies
- 3.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -3.3% a year
- net profit, FY24–FY26
- The gap
- 0.1 pp
- -30% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Ecos (India) Mobility & Hospitality Limited
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