IXIGO Q4 FY26 Guidance vs Delivery (IXIGO Management Mirror)

Overall Financial & Margin Strategy

Management continues prioritizing absolute rupee growth in contribution margin and EBITDA over percentage margins, willing to temporarily sacrifice 1-2% in margins to aggressively capture market share. In the Sep'25 Qtr, management ruled out cash-burn discounting. In the Dec'25 Qtr, short-term margin guidance was explicitly declined in favor of a multi-year view. The Mar'26 Qtr reaffirmed this growth-centric approach. [Status: Reaffirmed]