Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
MakeMyTrip Limited is an online travel services company that operates primarily in the online travel booking and travel technology industry, serving leisure and business travelers. The company provides a digital platform that enables customers to research, plan, and book a wide range of travel services, including transportation, accommodations, and travel-related products. Its core revenue drivers are air ticketing, hotel and holiday package bookings, and ground transportation services, supported by advertising, commissions, and service fees from suppliers.
Founded in 2000, MakeMyTrip initially focused on serving the Indian diaspora with U.S.–India air ticket bookings before expanding into the domestic Indian travel market. Over time, it evolved into one of India’s largest online travel platforms through organic growth, technology investment, and strategic acquisitions. The company is incorporated in the Cayman Islands and listed on the NASDAQ Global Select Market under the ticker MMYT, with its operating focus centered on India.
Business Operations
MakeMyTrip generates revenue through several primary business segments: Air Ticketing, Hotels and Packages, Bus and Rail, and Other Services. These segments earn income mainly through commissions from airlines, hotels, and other travel suppliers, as well as through service fees charged to customers. The company operates a portfolio of well-known consumer brands, including MakeMyTrip, Goibibo, and redBus, which collectively address different customer segments and price points within the travel market.
Operationally, the company’s activities are concentrated in India, where it maintains relationships with domestic and international airlines, hotel chains, independent accommodations, and ground transport operators. Its technology platform integrates pricing, inventory management, and payment processing, enabling large-scale transaction handling. MakeMyTrip also maintains customer support, data analytics, and mobile-first booking capabilities as core operational assets.
Strategic Position & Investments
MakeMyTrip’s strategy emphasizes strengthening its leadership position in India’s online travel market by expanding supply partnerships, improving user experience, and increasing cross-selling across travel categories. Growth initiatives have included investments in mobile applications, personalization technologies, and loyalty programs designed to increase repeat usage and customer lifetime value.
A major strategic milestone was the combination with Goibibo Group, which brought together complementary brands and assets, including redBus, under a single corporate structure. This consolidation enhanced MakeMyTrip’s scale, supplier bargaining power, and market reach. The company continues to invest in adjacent travel services and digital capabilities to capture long-term growth from rising travel demand and increasing online penetration in India.
Geographic Footprint
MakeMyTrip’s principal market is India, where it serves customers across metropolitan, tier‑2, and tier‑3 cities. Its operational headquarters are located in Gurugram, India, while the parent company is incorporated in the Cayman Islands. The company also maintains offices in the United States, primarily to support corporate functions, technology development, and investor relations.
Although revenue is overwhelmingly generated from India, MakeMyTrip’s platforms support international travel bookings and partnerships with global airlines and hotel operators. This gives the company an international operational reach while maintaining a strategic focus on the Indian travel and tourism ecosystem.
Leadership & Governance
MakeMyTrip was founded by Deep Kalra, who played a central role in shaping the company’s long-term vision and growth strategy and continues to be involved in governance. The current leadership team focuses on disciplined growth, technology-led scale, and profitability while navigating cyclical travel demand.
Key executives include:
- Rajesh Magow – Chief Executive Officer
- Deep Kalra – Founder and Group Chairman
- Mohit Kabra – Chief Financial Officer
- Sanjay Mohan – Group Chief Technology Officer
- Ankit Khanna – Chief Product Officer
The leadership philosophy emphasizes customer-centric innovation, strong supplier relationships, and prudent capital allocation, supported by a governance framework aligned with U.S. public market standards and oversight by an independent board of directors.