MakeMyTrip Limited (MMYT) Balance Sheet
MMYT balance sheet, FY2026
March 31, 2026 · U.S. dollars$1.75B assets = $1.81B liabilities + −$58.5M equity
Liabilities exceed assets: shareholders’ equity is negative (−$58.5M).
Both columns are drawn to the same scale: what MMYT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MMYT financial health
Descriptive bands, not a rating. Fiscal FY2026.
MMYT balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.54BFY2017 | $1.75BFY2026 | +1.4%/yr | |
| Total liabilities | $139.3MFY2017 | $1.81BFY2026 | +33.0%/yr | |
| Shareholders’ equity | $1.40BFY2017 | −$67.8MFY2026 | — | |
| Cash & short-term investments | $177.2MFY2017 | $765.1MFY2026 | +17.6%/yr | |
| Total debt | $749,000FY2017 | $1.41BFY2026 | +131.1%/yr | |
| Net cash (debt) | $176.5MFY2017 | −$641.3MFY2026 | −$817.8M | |
| Working capital | $128.8MFY2017 | $703.3MFY2026 | +$574.5M | |
| Book value per share | $26.70FY2017 | −$0.62FY2026 | — | |
| Current ratio | 1.96FY2017 | 3.05FY2026 | +1.09 | |
| Debt / equity | 0.00FY2017 | 0.20FY2025 | +0.20 | |
| Shares outstanding | 52.6MFY2017 | 109.7MFY2026 | +8.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MMYT assets
MMYT liabilities and equity
MMYT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MMYT balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $765.1M | $761.2M | $606.8M | $481.1M | $477.5M | $424.9M | $167.7M | $312.0M | $389.8M | $177.2M |
| Cash & equivalents | $424.8M | $508.9M | $327.1M | $284.0M | $213.3M | $295.1M | $129.9M | $178.0M | $187.6M | $101.7M |
| Short-term investments | $340.3M | $252.3M | $279.7M | $197.1M | $264.2M | $129.8M | $37.8M | $134.0M | $202.2M | $75.5M |
| Receivables | $163.1M | $150.8M | $97.2M | $68.9M | $35.9M | $25.2M | $57.9M | $54.9M | $73.5M | $35.2M |
| Inventory | $612,000 | $363,000 | $218,000 | $25,000 | $11,000 | $40,000 | $36,000 | $606,000 | $596,000 | $251,000 |
| Other current assets | $117.7M | $152.9M | $153.1M | $121.9M | $78.0M | $51.1M | $53.4M | $73.1M | $76.7M | $50.5M |
| Total current assets | $1.05B | $1.07B | $857.3M | $671.9M | $591.4M | $501.2M | $279.0M | $440.6M | $540.6M | $263.2M |
| Property, plant & equipment (net) | $21.7M | $26.5M | $25.9M | $25.4M | $19.3M | $22.2M | $36.0M | $13.5M | $13.7M | $15.3M |
| Goodwill & intangible assets | $552.2M | $597.8M | $613.4M | $629.0M | $685.7M | $720.9M | $722.0M | $1.07B | $1.15B | $1.17B |
| Long-term investments | $32.0M | $5.0M | $4.3M | $9.0M | $7.6M | $35.8M | $9.3M | $11.0M | $22.7M | $44.2M |
| Other non-current assets | $102.5M | $133.8M | $159.2M | $24.6M | $18.8M | $29.0M | $36.9M | $36.2M | $41.0M | $51.4M |
| Total assets | $1.75B | $1.83B | $1.66B | $1.36B | $1.32B | $1.31B | $1.08B | $1.57B | $1.77B | $1.54B |
| Liabilities | ||||||||||
| Accounts payable | $135.8M | $91.2M | $67.1M | $45.7M | $33.5M | $23.8M | $21.0M | $69.2M | $74.8M | $31.2M |
| Short-term debt | $6.7M | $222.7M | $4.8M | $219.5M | $2.8M | $2.3M | $4.0M | $233,000 | $228,000 | $226,000 |
| Deferred revenue | $113.0M | $120.1M | $93.1M | $75.2M | $53.6M | $34.3M | $33.4M | $70.5M | $64.9M | $265,000 |
| Total current liabilities | $343.2M | $576.6M | $297.6M | $453.7M | $191.2M | $194.2M | $179.9M | $204.6M | $200.0M | $134.4M |
| Long-term debt | $1.39B | $3.1M | $203.8M | $15.7M | $213.8M | $201.6M | $698,000 | $474,000 | $424,000 | $523,000 |
| Lease obligations | $11.8M | $15.4M | $16.7M | $16.4M | $14.0M | $15.6M | $24.6M | — | — | $0 |
| Other long-term liabilities | $77.7M | $40.6M | $42.2M | $14.5M | $21.2M | $22.0M | $40.4M | $7.9M | $6.1M | $4.4M |
| Total liabilities | $1.81B | $620.3M | $543.7M | $483.8M | $426.3M | $417.8M | $220.9M | $212.9M | $206.5M | $139.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $48,000 | $56,000 | $55,000 | $53,000 | $53,000 | $53,000 | $52,000 | $52,000 | $52,000 | $46,000 |
| Retained earnings (deficit) | −$2.79B | −$929.9M | −$1.02B | −$1.23B | −$1.21B | −$1.20B | −$1.15B | −$682.1M | −$515.9M | −$298.6M |
| Accumulated other comprehensive income | $124.2M | −$49.3M | −$29.9M | $40.1M | $42.5M | $38.5M | $20.2M | $61.9M | $113.7M | $96.0M |
| Minority interest | $9.3M | $5.3M | $5.6M | $6.5M | — | — | — | — | — | — |
| Total shareholders' equity | −$67.8M | $1.20B | $1.11B | $869.6M | $894.1M | $887.5M | $858.2M | $1.36B | $1.56B | $1.40B |
| Key figures | ||||||||||
| Total debt | $1.41B | $236.6M | $221.6M | $235.2M | $216.6M | $204.0M | $25.6M | $707,000 | $652,000 | $749,000 |
| Net cash (debt) | −$641.3M | $524.6M | $385.2M | $245.9M | $260.9M | $220.9M | $142.1M | $311.3M | $389.2M | $176.5M |
| Working capital | $703.3M | $488.7M | $559.7M | $218.3M | $400.1M | $307.0M | $99.2M | $236.1M | $340.6M | $128.8M |
| Tangible book value | −$620.0M | $604.8M | $497.5M | $240.6M | $208.5M | $166.6M | $136.2M | $288.3M | $411.1M | $234.1M |
| Book value per share | −$0.62 | $10.50 | $9.40 | $7.83 | $8.24 | $8.31 | $8.16 | $13.05 | $15.53 | $26.70 |
| Shares outstanding | 109.7M | 114.5M | 118.2M | 111.1M | 108.5M | 106.8M | 105.2M | 104.0M | 100.4M | 52.6M |
| Current ratio | 3.05 | 1.85 | 2.88 | 1.48 | 3.09 | 2.58 | 1.55 | 2.15 | 2.70 | 1.96 |
| Quick ratio | 2.70 | 1.58 | 2.37 | 1.21 | 2.68 | 2.32 | 1.25 | 1.79 | 2.32 | 1.58 |
| Debt / equity | — | 0.20 | 0.20 | 0.27 | 0.24 | 0.23 | 0.03 | 0.00 | 0.00 | 0.00 |
| Equity / assets | −3.9% | 65.8% | 66.9% | 63.9% | 67.6% | 67.8% | 79.2% | 86.4% | 88.3% | 90.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $776.2M | $765.1M | $814.1M | $829.8M | $800.3M | $761.2M | $703.8M | $715.9M | $674.6M | $606.8M | $606.6M | $524.1M |
| Cash & equivalents | $380.3M | $424.8M | $433.9M | $521.7M | $486.6M | $508.9M | $391.3M | $401.9M | $348.8M | $327.1M | $309.8M | $303.6M |
| Short-term investments | $395.9M | $340.3M | $380.2M | $308.1M | $313.7M | $252.3M | $312.6M | $314.1M | $325.8M | $279.7M | $296.8M | $220.5M |
| Receivables | $189.0M | $163.1M | $169.9M | $159.0M | $152.7M | $150.8M | $152.8M | $139.8M | $114.6M | $97.2M | $92.7M | $85.4M |
| Inventory | $425,000 | $612,000 | $687,000 | $643,000 | $364,000 | $363,000 | $313,000 | $818,000 | $1.3M | $218,000 | $16,000 | $5,000 |
| Other current assets | $124.5M | $117.7M | $161.3M | $145.1M | $3.17B | $152.9M | $192.0M | $139.9M | $149.5M | $153.1M | $137.6M | $168.2M |
| Total current assets | $1.09B | $1.05B | $1.15B | $1.13B | $4.13B | $1.07B | $1.05B | $996.4M | $940.1M | $857.3M | $836.9M | $777.7M |
| Property, plant & equipment (net) | $21.9M | $21.7M | $22.7M | $23.9M | $25.1M | $26.5M | $25.9M | $25.9M | $24.9M | $25.9M | $26.5M | $24.8M |
| Goodwill & intangible assets | $550.0M | $552.2M | $561.5M | $570.9M | $594.2M | $597.8M | $587.8M | $604.6M | $610.2M | $613.4M | $1.17B | $615.9M |
| Long-term investments | $32.6M | $32.0M | $20.0M | $10.1M | $8.2M | $5.0M | $4.5M | $4.1M | $4.8M | $4.3M | $17.3M | $17.4M |
| Other non-current assets | $88.8M | $102.5M | $109.2M | $117.0M | $126.0M | $133.8M | $145.0M | $148.3M | $153.3M | $159.2M | $0 | $30.0M |
| Total assets | $1.78B | $1.75B | $1.86B | $1.86B | $4.88B | $1.83B | $1.81B | $1.78B | $1.73B | $1.66B | $1.53B | $1.47B |
| Liabilities | ||||||||||||
| Accounts payable | $158.4M | $135.8M | $177.5M | $142.5M | $159.5M | $91.2M | $165.7M | $148.6M | $157.0M | $67.1M | $133.9M | $116.2M |
| Short-term debt | $7.2M | $6.7M | $234.8M | $230.7M | $226.8M | $222.7M | $6.1M | $5.2M | $5.3M | $4.8M | $232.5M | $227.8M |
| Deferred revenue | $97.4M | $113.0M | $110.4M | $134.4M | $88.9M | $120.1M | $109.8M | $120.2M | $84.4M | $93.1M | $91.3M | $98.8M |
| Total current liabilities | $348.5M | $343.2M | $617.9M | $592.6M | $3.60B | $576.6M | $364.4M | $353.7M | $338.3M | $297.6M | $547.1M | $527.1M |
| Long-term debt | $1.43B | $1.39B | $1.18B | $1.16B | $1.13B | $3.1M | $226.5M | $223.7M | $219.6M | $203.8M | $16.3M | $15.0M |
| Lease obligations | — | $11.8M | — | — | — | $15.4M | — | — | — | $16.7M | — | — |
| Other long-term liabilities | $337.5M | $77.7M | $344.6M | $350.4M | $83.2M | $40.6M | $29.4M | $30.1M | $28.9M | $42.2M | $20.9M | $15.1M |
| Total liabilities | $2.11B | $1.81B | $2.14B | $2.10B | $4.82B | $620.3M | $620.3M | $607.5M | $586.9M | $543.7M | $584.3M | $557.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $48,000 | $48,000 | $48,000 | $48,000 | $65,000 | $56,000 | $56,000 | $55,000 | $55,000 | $55,000 | $54,000 | $54,000 |
| Retained earnings (deficit) | −$2.79B | −$2.79B | −$2.82B | −$2.83B | −$903.9M | −$929.9M | −$955.5M | −$982.5M | −$999.5M | −$1.02B | −$1.18B | −$1.21B |
| Accumulated other comprehensive income | −$151.7M | $124.2M | −$113.7M | −$108.8M | −$3.24B | −$49.3M | −$200.4M | −$42.5M | −$39.3M | −$29.9M | −$19.3M | $1.2M |
| Minority interest | $10.1M | $9.3M | $4.3M | $4.3M | $5.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$341.5M | −$67.8M | −$283.6M | −$247.3M | $56.5M | $1.20B | $1.19B | $1.17B | $1.14B | $1.11B | $936.5M | $903.8M |
| Key figures | ||||||||||||
| Total debt | $1.71B | $1.41B | $1.68B | $1.66B | $1.36B | $236.6M | $232.6M | $229.0M | $224.9M | $221.6M | $248.7M | $242.7M |
| Net cash (debt) | −$932.1M | −$641.3M | −$869.0M | −$830.3M | −$559.8M | $524.6M | $471.2M | $487.0M | $449.7M | $385.2M | $357.9M | $281.4M |
| Working capital | $741.6M | $703.3M | $528.1M | $542.0M | $524.7M | $488.7M | $684.6M | $642.6M | $601.8M | $559.7M | $289.8M | $250.6M |
| Tangible book value | −$891.6M | −$620.0M | −$845.1M | −$818.2M | −$537.7M | $604.8M | $598.5M | $561.5M | $530.7M | $497.5M | −$235.7M | $287.9M |
| Book value per share | −$3.48 | −$0.65 | −$2.86 | −$2.52 | $0.48 | $10.50 | $10.28 | $10.16 | $10.05 | $9.36 | $8.31 | $8.04 |
| Shares outstanding | 98.2M | 104.5M | 99.3M | 98.0M | 117.3M | 114.5M | 115.4M | 114.7M | 113.5M | 118.7M | 112.7M | 112.5M |
| Current ratio | 3.13 | 3.05 | 1.85 | 1.91 | 1.15 | 1.85 | 2.88 | 2.82 | 2.78 | 2.88 | 1.53 | 1.48 |
| Quick ratio | 2.77 | 2.70 | 1.59 | 1.67 | 0.26 | 1.58 | 2.35 | 2.42 | 2.33 | 2.37 | 1.28 | 1.16 |
| Debt / equity | — | — | — | — | 24.07 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.27 | 0.27 |
| Equity / assets | −19.2% | −3.9% | −15.3% | −13.3% | 1.2% | 65.8% | 65.5% | 65.5% | 65.8% | 66.9% | 61.4% | 61.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 27, 2026); data from EODHD.
MMYT financial position
At the end of fiscal 2026 (March 31, 2026), MakeMyTrip had total assets of $1.8 billion (down 4.0% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of -$67.8 million. It held $765.1 million in cash and short-term investments against $1.4 billion of debt, net debt of $641.3 million. Its current ratio was 3.05. In the latest quarter (ended June 30, 2026) total assets were $1.8 billion and equity -$341.5 million.
Related: MMYT income statement, MMYT cash flow statement, MMYT key metrics. See the MMYT stock overview for the latest quote and news.
MMYT balance sheet FAQ
What are MakeMyTrip's total assets?
MakeMyTrip reported total assets of $1.8 billion at the end of fiscal 2026 (March 31, 2026), compared with $1.8 billion a year earlier.
How much debt does MakeMyTrip have?
MakeMyTrip had $1.4 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does MakeMyTrip have?
MakeMyTrip held $765.1 million in cash and short-term investments at the end of fiscal 2026; with $1.4 billion of debt that is net debt of $641.3 million.
What is MakeMyTrip's book value?
MakeMyTrip's shareholders' equity (book value) was -$67.8 million at the end of fiscal 2026, or −$0.62 per share.
What is MakeMyTrip's current ratio?
MakeMyTrip had current assets of $1.0 billion and current liabilities of $343.2 million, a current ratio of 3.05 (it can cover its short-term obligations).
How much goodwill does MakeMyTrip have?
MakeMyTrip carried $552.2 million of goodwill and intangible assets, 31.5% of total assets, at the end of fiscal 2026.