MACH CONFERENCES AND EVENTS LIMITED (BSE: 544248) Q4 2025 Earnings Call dated May. 29, 2025
Corporate Participants:
Ranjan Ghosh — Vice President
Amit Bhatia — Chairman and Managing Director
Ravi Kumar Mishra — Chief Financial Officer
Analysts:
Sanket Sadh — Analyst
Darshil Jhaveri — Analyst
Raghav Singh — Analyst
Sagar — Analyst
Sahil Raj — Analyst
Shubham Gupta — Analyst
Krish Ahuja — Analyst
Unidentified Participant
Ram Babu — Analyst
Gaurav Kothari — Analyst
Presentation:
Operator
Foreign Ladies and gentlemen, you are connected with the Mach Conferences & Events Limited Earnings Conference call. Please stay connected. The call will begin shortly. Participants, you are connected to the Mac Conferences and Events Limited Earnings Conference Call, please stay connected. The call will begin Shortly. Thank you. Sam Sa Ladies and gentlemen, good day and welcome to the Mac Conferences and Events Limited Q4 and FY25 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing then 0 on Touchstone 4.
Before we begin, please note that this conference call may contain forward looking statements about the company which are based on the beliefs of opinions and expectations of the company as on date of this call. These statements are not the guarantee of future performance and involve risks and uncertainties that are difficult to predict. On the call today we have with us Mr. Amit Bhatia, Chairman and Managing Director, Mr. Ravikumar Mishra, Chief Financial Officer, Ms. Ranjan Ghosh, Vice President and Ms. Yashashvi Srivastava, Company Secretary and Compliance Officer.
I now hand the conference over to Mr. Ranjan Ghosh, Vice President for the opening remarks. Thank you. And over to you sir.
Ranjan Ghosh — Vice President
Hi, Good evening everyone. I welcome you to H2 and FY25 earning conference call and thank you everyone for their participation. The year gone by has been a landmark one for us, filled with challenges, achievements and strategic progress that have collectively strengthened our foundation for future growth.
Let me open this call by giving you a brief overview of MACC Conferences. My conference and events is a leading name in global MICE that is meeting, incentive conference and events industry. With the over of 20 years of experience, the company holds prestigious certification from bodies like iata, ADTY and pata. Reflecting its commitment to quality and professionalism. The company has earned a strong reputation of excellence and reliability and in just the last three years, Mac has successfully executed over 300 large and mid sized events. Its operations extended beyond the Indian subcontinent, reaching multiple countries across the globe.
Beckoned by a team of highly skilled professionals with in depth knowledge of MICE landscape, Mac continues to deliver seamless, innovative and impactful event experiences. Recently, Mac has ventured into the B2C segment through religious tourism, cruises, weddings and our upcoming B2C travel portal which I will explain further. Coming to our FY25 performance this year we have seen exceptional growth in our core operations. We are delighted to report a significant 73% increase in the number of events we organized this year from nineteen 9090 events in FY24 to 156 event FY25. This growth is a result of our dedicated focus on client satisfaction, operational efficiency and market expansion.
We are proud to announce that we have acquired 21 new clients this year, which is a significant milestone in itself. We continue to diversify and innovate our offerings. We forayed into religious tourism in B2C segment through our pilot offering to the Mahagumb Mela in Prayagraj and Dodham and Chardham Yatra. These premium packages included everything from air travel and luxury accommodations to personal guides and private transfers resonated strongly with our exclusive clientele. This initiative was crafted specifically for senior citizens, busy professionals and spiritual travelers seeking an effortless and elevated pilgrimage experience.
We are trying to blend comfort with devotion and bring spiritual tourism into the luxury space. Expanding our footprints we successfully conducted events in international locations such as Norway, Vancouver, Peru, New Zealand, Switzerland and Monte Carlo. This is a clear evidence of great. Growing market trust and our ability to serve a diverse clientele. Recently we have approved the acquisition of a major equity stake in Travexel Events and Travel Private Limited. It is a young but promising company in the medical conference and travel segment. It has recorded a turnover of 1.25 Cr in FY25. This positions us to expand our service portfolio, deepen our domestic presence and jointly develop new revenue streams in collaboration with the existing promoters. I’m also delighted to share a major milestone in our expansion strategy. Our appointment as a key distributor for Cordela Cruises, India’s premium luxury cruise line.
The Indian cruise tourism industry is one of the cups of rapid expansion. According to Statista report, it is projected to grow over US$229 million in 225 to USD319 million by 2029. It is supported by major infrastructure investments and government initiative under the Cruise Bharat Mission. India is emerging as a global cruise hub with facilities such as 556 crore Mumbai International Cruise Terminal and reforms like simplified E Visa and reduced port charges, etc. This strategic alliance enhanced our B2C portfolio, offering exclusive cruise itineraries to our discerning customers while simultaneously creating new B2B avenues for corporate events, incentive travels and customized Group 2’s onboard luxury vessels.
Looking ahead, we are excited to announce the launch of a new strategic initiative under our Digital Transformation Roadmap, A Corporate Travel Desk, the comprehensive digital implant tailored for corporate clients. This platform will streamline and fulfill all day to day travel requirements for our enterprise customers including flights, hotels, taxis, visas and more and all this through a single integrated online tool. We are proud to partner with tbo, a leading name in the travel technology to power this platform and ensure a seamless, scalable and highly efficient experience for our clients.
As part of our long term growth strategy, we are transforming Mac Conferences and Events Limited into a full service online travel agency which is OTA into B2C segment. The expanded OTA platform will cover a comprehensive range of verticals including flights, hotels, cruises and visa services. A key milestone in this transformation is the enablement of in house airline Ticking, powered by ITA Accreditation and GDS which is global distribution system integration allowing us to manage air travel inventory directly and improve margins. To accelerate growth, we are targeting strategic and travel firm acquisitions and partnering with global travel brands to enrich offerings and deepen market presence. These initiatives position us to become a fully integrated digitally powered travel brand, driving efficiency and strong revenue potential in FY26 and beyond.
Now turning to financial performance, our total revenue for FY25 stood at 235.75 cr, maintaining last year’s level despite the absence of a large 80 crore event. This is a strong result unpinned by organic growth and diversification. Our EBITDA stood at 21.95 cr with a EBITDA margin of 9.31% compared to last year of 15.45%. Our PAT stood at 14.16 crores.
In line with our commitment to shareholder returns, the Board of Directors has recommended a dividend of 1 rupee per equity share representing a 10% payout on the face value of 10 rupee per share for the year ended March 31, 2025. As we look ahead, we remain focused and strengthening our premium offerings across mice industry travel events and spiritual experiences. We strategic alliance like Cordillera Cruises, investment in high growth verticals like corporate travel desk, medical conferences and deepening client base. We are confident of accelerating our growth trajectory.
We are proud to be building a company that helps shape the future of luxury travel and events in India. With the opportunities in the existing MICE setup and with the new developments in place, we are hopeful to clock a growth of 25% CAGR over next three years. This concludes my opening remarks. Thank you so much.
Questions and Answers:
Operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press STAR and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the 9 of Sanket Saad from Art AIF. Please go ahead.
Sanket Sadh
Good evening team and firstly congratulations on a great set of numbers. So my first question is what is the status of. The dispute regarding the trademark of the corporate travel desk name and you know what is the reason the company is stepping into this segment. How much revenue do we see coming in from this segment in the next year?
Amit Bhatia
Good evening, this is Amit Bhatia here. I’m the MD and the chairman. I will start the answer but on the onset I wish to thank everyone for participating in this investor call. Now coming back to your question. You know the dispute which is there regarding the trademark of our B2C portal is right now currently in the court. I will not like to comment upon it. We are pushing for the same name. Nevertheless we are not wasting time. We are parallelly creating our product, the tool which would help us to get into this business. So just to repeat my answer, yes, the name is under dispute but we are not actually waiting for that name to come. The tool is getting ready.
Now. Secondly, now why are we getting into this business is that we are getting into this business because there is a synergy between what we are doing and the portal which you were referring to. Now we are into travel business. We do hotels, we do ticketing, we take care of visas and insurance and forex and everything in itself. We do about hundred, more than 100 crore of ticketing every year plus, minus some percentage. So and we have good deals from the hotel.
We want to get into B2C vertical. Now as stated earlier, we have a captive market of about 1 lakh people plus minus 10% who travel with us and who have been traveling with us for years. Now we want to, you know, use this captive audience because the tickets have to be sent to them, the visas have to be sent to them. There are requirements of, you know, apps which have to be created so we would get everybody onto our particular portal, our particular app and get everybody, you know, hooked on to our tool.
Now you know, you would be also aware that we have acquired a company, majority stake in a company which is into pharma conferences, doctor conferences. Now, the audience in this conference is about 4,000, 5,000 doctors every, every, every event. So we would now get access to, you know, the various associations of doctors where we can, you know, get people onto our portal and app. And hence we would, you know, have a revenue stream, a separate profit center coming up in this particular venture also.
Sanket Sadh
Noted, noted. Thank you, sir, for that. But is there any number in mind which you have for the maybe next two to three years of how much revenue this segment is going to generate?
Amit Bhatia
You know, I very frankly. We had done a, excuse me, a test pilot. When we had gone ahead to sell, you know, the Kumbh Yatra, we had got phenomenal response from the market. Our captive audience was initially not too excited, but at the later stage, we were under a lot of pressure from them for the inventory. We were unable to get the inventory or the sector was unorganized because, you know, of the reasons known to you. Somebody was selling a camp for 15,000.
They took it up to 1 lakh because the demand had risen. That is a separate issue. So, you know, we have already done up a test mission and we’ve been successful in this continuation only. We have taken ahead the distribution distributorship of Cordiala Cruises. So we see it as a major, you know, we can have inroads into this particular market. But while I will not be able to give you any numbers, the bottom line here is not to, you know, burn money. We do not want to.
We don’t aspire to become in current scenario. We don’t want to, you know, compete with the biggest and the best, which would be there in your cell phone. Currently. That is not the audience because we understand that we cannot compete with them. We want to compete with people in our, you know, there are local travel companies, there are fit selling companies, and plus, we have captive audience. These people also have marriages in the family.
These people also have, you know, their summer vacations and the winter vacations and traveling here and there. So all. That we want to, you know, we want to get in roads and we want to take that market rest. We do not want to, we don’t aspire to spend lot of money and get into bigger league.
Sanket Sadh
Okay, noted, noted. And so basically in the opening statements I heard that there was a 25% CAGR growth which we expect for the next three years. So I want to ask what are the key growth drivers for this and how many clients can we expect to acquire in the next 12 months?
Amit Bhatia
You know, the 21 clients which we had acquired, we had acquired them towards the last quarter of the year or towards the December month. And these are big companies. You know, there are cement companies, there are other industry companies and there are huge numbers. Now, you know, I want to bring your attention and everyone’s attention to the point that last year there was a huge conference of 80 crores, which was one particular conference. So when we started the year we had to climb that mountain of 80 crores and year before that we had a business of about 55 crores from one single conference. So having said that, we had to climb that hill of that 80 crores and 55 crores year before that. So we were successful in doing it. And we were able to do it because we generated 21 more clients.
Now these clients have given us numbers and profitability in the last quarter and we are very, very, very hopeful that now the client has tested our services and we are now hopeful that this year we would see a significant jump in the numbers from these clients. Also having said that, the old clients are being retained by us.
Yes, that big conference did not come our way, it didn’t happen or we were not able to pick it up is a separate issue. But this year we are looking at 25% growth. The sad part is that the first half was we increased the business by about 87%. Where we could not keep the momentum was the second half of the year where. That 80 crores business was a hill which needed more clients. And of course we were able to achieve the numbers, but we were not able to bring in the growth this year. We are hopeful that the growth of 25% will be there and God bless us, we should be able to achieve that.
Sanket Sadh
Okay, all right. And what are the top revenue segments of the company?
Amit Bhatia
1, 1 point I missed out, you know, the BFSI segment of our customers. Perhaps you would be able to relate or remember the Q3 for these customers also was not too great. You know, their numbers were hit. Since their numbers were hit, the ripple effect happened with us. And in the fourth quarter we. The amount of business which you are expecting, we had, you know, issues there.
So this is another factor. And hence we are hopeful that this year everything will be hunky dory. And even when we have 21 new clients and we have now more team members in the company who are scouting for business, we are getting little more professional and we’ve been able to pick up talent from big companies. Some of them you would also know. So we are very optimistic that we will achieve that kind of a number. I. You were saying something, I interrupted. I’m sorry.
Sanket Sadh
Yeah, no worries. I was asking what are going to be the top, what are the top revenue segments of the company? Because as I was going through the pitch deck, I saw that there’s quite, quite a few segments the company is into.
Amit Bhatia
You know, our bread and butter would remain at mice. We are not losing the focus because, you know, 90% of the team members are only mice players. What we have done is that since after IPO we have access to, you know, funds and we are also now one of the only few companies in India which are listed our, what do you call it, our respect in the market or our level in the market has risen. So we want to diversify into related travel fields. Now one of the field is. Corporate travel solutions. Now, you know, for example, if we talk about a ABC company now, ABC companies, dealers and distributors and employees are being taken by us for various their off sites and their incentive tours in India, outside tours. But these companies have their captive employee travel also. You know, this travel, we are not into this travel business currently. So what we’ve done is where we’ve diversified, we’ve, we’ve picked up somebody from the industry.
The lady has 26, 27 years experience, she’s bringing in her team and we would get into this business. And similarly we are also looking at acquiring other companies in and also into the religious and the other vertical which we mentioned. But our bread and butter is going to be mice because we understand that, you know, we reach this level because of mice. And there is a huge scope with the existing customers and the customers which we acquired.
Operator
Sorry to interrupt. May we request Mr. Sanket to please rejoin the queue? We have other participants waiting for the turn.
Sanket Sadh
Okay, sure.
Amit Bhatia
Thank you, Mr. Sanket.
Operator
Ladies and gentlemen, in order to ensure that the management is able to address questions from all participants, we request you to please limit your questions to two per participant. If you have a follow up question, you may rejoin the queue. The next question is from the line of Darshul Saveri from Crown Capital. Please go ahead.
Darshil Jhaveri
Hello. Good evening, sir. Thank you so much for taking my question. Hopefully I’m audible.
Amit Bhatia
Hello. Yes, please. You are?
Darshil Jhaveri
Yeah, yeah, yeah, yes, thank you. Thank you, sir. Yeah. So I just wanted to know like, so when we are, you know, now trying to, you know, maybe venture into the B2C segment, so how would our margins behave? Right, because I’m sure they would require some up upfront cost or how would they behave or you know, like a B2B and B2C margins would be a bit significantly different. So just wanted to, you know, get your sense of how would margins because I think even like we are in an expansion phase, I think we’ve increased our employees and that’s reflected a bit maybe in our this year’s margins.
So what can we see in FY26 in terms of margins?
Amit Bhatia
You know, you’re absolutely correct that the cost would increase now in terms of the business of these B2C vertical now, you know, the most. Expensive bit is, you know, the marketing cost, the client acquisition cost which is there. The big names have to advertise in crores, have reached a level where in order to be 1, 2 or 3, they need to spend lot of money on the marketing. It is not the case with us.
We are now creating a vertical, perhaps getting into a little bigger office, having a Corner dedicated to 10, 12 people who would be into this business. Now in terms of technology, we have thought about, you know, getting associated with established names since we are already dealing with them. So we are not looking at any, you know, expensive proposition.
Yes. Apart from the, you know, usage, so to say a rental in a layman language of the technology which we will, we will have with us and the manpower, we are not looking at any major expense. So while there will be a cost attached to taking a customer, which we know that there’ll be, you know, the customer has to buy from our portal or from the B2C this thing and there has to be a cost attached to it.
But we will never get into a negative territory there. You know, the general feeling is that the B2C portals and the people don’t make money because the percentage, the profitability is not there. But perhaps my submission, I’m a small man, submission here is that the profit can be made. Yes, in terms of B2B it is.
The percentage is going to be much more than B2C but you know, it would still take care of a separate profit center and get us some revenue and some profit end of the day. In terms of profitability, what you’ve asked our this year’s profitability took a hit or it went down because, you know, we had to acquire new clients. Now in acquiring the new clients, we have to be very aggressive. While we are quoting the business, you know, we are competing with the biggest and the best and last quarter is everybody gets aggressive, everybody has targets to achieve.
Hence we became little more aggressive because we had to get into those corporates. And since the BFSI segment was down in the third quarter, we became little. Aggressive in the fourth quarter and picked up businesses at a aggressive this thing and hence the market, the backup, you know, the profit margins went down. But this year we are hopeful that we will be able to achieve 2024 profitability ratios.
Darshil Jhaveri
Okay, okay. Fair. Fair enough, sir. And so just like wanted to know, so we’ve said like around 25% growth for maybe next year. So if we can bifurcate this into like current set of B2B business, how much would that account for it and how much are we expecting for like the B2B? The various new ventures of corporate travel desk or maybe the religious segment or the Cordela.
Amit Bhatia
So if you could. Yeah, yeah, yeah. You know. You know, while I understand the question, my answer here would be that our endeavor is to get aggressive this year and increase the mice business by 25% overall. We understand that there will not be much significant business coming from the B2C verticals because everybody would need some time to, you know, penetrate and get the business onto the table. So we are not too excited about that business in current year. In the following year, yes, it would take six to eight months for that business to establish the client.
Acquisition takes little time and so it will take time. But as we speak we are very optimistic with the acquisition of the pharma company which we have done. The company already has an order book of 20 crore. And the pharma business is a business which is kind of closed years before the event. While the company which we have acquired has 2026 business in hand which is for the month of February, January and February.
They are pitching for various businesses as far as 27 and 28 are also concerned. So this is my answer to your question for the 25%.
Operator
Sorry to interrupt. May we request Mrs. Everyday to please rejoin the queue. We have participants reading for the turn.
Darshil Jhaveri
Thank you.
Operator
The next question is from the line of Raghav from Ace Capital. Please go ahead.
Raghav Singh
Hi, can you hear me?
Amit Bhatia
Yes, Raghav, please tell me. Good evening to you.
Raghav Singh
Hi. Hi. Good evening. You as well, sir. So I see. I will ask only two questions. I will join the queue as moderator is saying. But I have many different questions as well. So what should be our expected margin profile for the company? Because it’s going up and down since last three years and you’re saying 25% guidance which is. Which is very good. But I’m not able to sense at what margin we should say okay, at a steady state. This should be our margin. So if you can put some color to that.
Amit Bhatia
You know, since I. I replied to you, I replied to the gentleman before you. The margins took a beating or it came down because of the reasons told earlier. And you know, you would perhaps be able to relate to it. Because the last quarter was tough on everyone, you know. So when the business volume came down, everybody became little aggressive. This year the cake is bigger for us. You know, we would continuously bring our attention to those 21 customers. Now that 21 customers which we have acquired will give us more business. And the cost will be divided in.
You know, in totality. Hence the margin will increase. Now with the money coming in from the ipo, we. We do not have a interest cost. We are saving lot of money towards the cost of money. So hence the market, the margins will not take any. Any beating. And we. This is the. You know, this is the answer to your question.
Raghav Singh
Okay sir. Noted. Secondly, sir, we still have some RPT related party transactions going on. So do you think it will continue like this or. Since we have IPO money probably we should wean off from the RPT transactions.
Amit Bhatia
You know, that related party transaction which you’re referring to is a small little business. I can happily state in this forum. My son is getting married this year. So this is his wedding expense which we have taken approval and we took the permission from the board. And we’ve ensured that nothing is done which is unlawful. And this is one off event after Adit. Partiers wedding in November. I don’t think so there’ll be any other related party expense. You know, since it is our job only. We are into business of executing weddings and booking hotels and. Etc. So that is why we’ve done this related party transaction.
Raghav Singh
So actually if I see the balance sheet I see related party transactions in year 23 as well as 24. So. And I also understand probably it was because you were company was not listed. We were running short of fund as you highlighted in your earlier calls.
Amit Bhatia
Yes. Yes.
Raghav Singh
Yeah. You know personal lines of credit. So my question was more related to those transactions.
Amit Bhatia
Sorry. Sorry. I. I got confused.
Raghav Singh
Probably should stop going forward. Right?
Amit Bhatia
Yeah. Yes. Yes. Yes. That has completely stopped.
Raghav Singh
Okay, sir. Thank you. I have more questions but I will join the queue.
Operator
Thank you. The next question is from the line of Sagar from KS412. Please go ahead.
Sagar
Hello. I hope you’re doing good. So.
Amit Bhatia
Yes, thank you.
Sagar
Yeah. Yes, please. My. My first question is that you. In the first half of the year you said that the revenue would be much higher in the second half. I do understand. The last year we had this 80 crore. You know one time first come back. But then the first half even. You know, the. That first half was a one time also. What we can expect in the first half this year.
Amit Bhatia
No, no, no, no. You know, the first half also had certain addition of customers. But since we had funds from the IPO we were getting little more aggressive. And we were able to. You know since we have a better and a bigger team now. So we were able to increase the market share in the first half. So that would still remain. That is not going to be a problem this year. And as far as the second half of the year we’ve told you the reason and you rightly said it is because of the 80 crore business.
Sagar
Yeah, but you know 3040 comes from first half and 7060 comes from the second half.
Amit Bhatia
That should remain this way. That’s. That should remain this way this year also.
Sagar
I’ll say. My second question was what kind of percentage of revenue comes from top one to three clients? And I need. Can you give me the numbers for one first half, second half and even for the full year or even the last year if that would be great. Because. Just want to see, you know how the customer concentration play customer concentration which is playing out.
Amit Bhatia
I’m sorry, I don’t think so. That bifurcation we would have right now. But I. We can come back to you perhaps and write back to you. If we are allowed to do that. We can send you that detail. If you could share your details with us. We can reply back to you.
Sagar
Sure, sure. I will answer. Lastly about the cash flows.
Amit Bhatia
Yeah.
Sagar
Yeah, I will send you the email. Yeah, so. And lastly about the cash flow. So cash flows have been negative. OCS have been negative this year. So you know, any payment is stock or when we can expect the cash from our customer. And also or the Viaco much.
Amit Bhatia
The good news is that out of the 47 crores, 25 to 27 crores we’ve already received as we speak. And the balance we would be getting soon. Yes, the payment got delayed this time. But since we are dealing with the blue chip companies, AA plus listers. There is nothing to get worried. I would repeat, we have already recovered 25 plus crores or 25 to 27 crores from the figure which you’ve seen in the balance sheet.
Sagar
So on this point, like you are catering to top a mncs, right? So like we do cover BSSI sector. But then again we are scattering to top MNCs. And top MNCs have not faced much headwinds in the first half. So is there particular client that face increased competition like face hurdles. Can you just give a, you know, hint it was the whole BFI sector or just one person?
Amit Bhatia
No, no, no. Hold. Because you. You mean not the first quarter. You mean the third quarter? Yes. The entire BFSI sector had gone down. There are numbers which you could relate to. I do not have the numbers handy. But we. We have seen that and that is the reason. But it happened with the entire BFSI sector.
Sagar
Okay, sure. Thank you, sir. We’ll join back with you. Thank you.
Amit Bhatia
Thank you.
Operator
Thank you. The next question is from the line of Sahil Raj from Samradhiya Capital Ventures. Please go ahead.
Sahil Raj
Yes, sir. Am I audible? Yes. Yes, I’ll. Please go ahead. Good evening to you, sir. One small request. If you can maybe accept that request. Can we do quarterly updates going in FY26?
Amit Bhatia
You know, I. I. We had thought about it. We are still contemplating. We would seek advice. And you know, this is the foundation of the company in terms of the IPO listing. We are in the 9th month, 10th month. So we are accepting lot of suggestions on. So we are currently working on this.
Sahil Raj
No, because I’ve seen that the company releases time and again notifications on various social media platforms. Be it on WhatsApp, be it on the Exchange. So if it can just extrapolate it, the results or quarterly updates, a one pager summary would do. Because all of those events that you have just mentioned that happened in after November that you are saying if investors were known about it, it would have been much better. The situation would have been much better.
Amit Bhatia
Sure. We. I take your suggestion and we would, we would seek advice and we, we would want to do that.
Sahil Raj
Okay. So thank you for that. Another question is that the medical conference vertical that we are in process of acquisition. Why when we can expect that to be completely acquired?
Amit Bhatia
You know, we, we have given them the first agreement. I forgot. There is a one month time. There is some, some due diligence. Just a minute. Huh. There is some closing which is in pipeline. But I think in about 30 days from now the entire process will be completed.
Sahil Raj
All right, thank you. That’s all.
Amit Bhatia
The agreements have been signed. Agreements have been signed and everything is in place. But the entire thing will be executed in about 30 days from now.
Sahil Raj
All right, sir. Thank you very much.
Amit Bhatia
Thank you. Thank you.
Operator
Thank you. Ladies and gentlemen, in order to ensure that the management is able to address questions from all participants, we request you to please limit your question to one per participant. If you have a follow up question, you may rejoin the queue. The next question is from the line of Shubham Gupta, an individual investor, please. Shubham Gupta, please go ahead with your question. Your line is unmuted. Hello?
Shubham Gupta
Yes. Yeah, my questions are already answered. Thank you.
Amit Bhatia
Thank you. Thank you. Gupta.
Operator
The next question is from the line of Kresh Ahuja from Gurgaon Micro Cap Investors. Please go ahead.
Krish Ahuja
Yeah. Hi. Good evening. Audible. Good.
Amit Bhatia
Good evening.
Krish Ahuja
Good evening. Yeah. When was the revenue for the Korea event?
Operator
I’m sorry to interrupt. Mr. Krisha Hoja. We are unable to hear you. Your voice is breaking a lot. May we request you to come in a good reception area?
Krish Ahuja
Hello. Mr. Krishna Hoja. Hello. Hello. Yes. You are?
Operator
Yeah. Better. Better. Better.
Krish Ahuja
Yeah. Yes, sir. Actually I wanted to ask when was the revenue for the. The event booked last year?
Amit Bhatia
The 80 crore event. When was the revenue booked? Ah. That was. That was H2. That was H2, I think. Month of November to be precise.
Krish Ahuja
The revenue was. Right.
Amit Bhatia
Sorry.
Krish Ahuja
So the revenue was November, right?
Amit Bhatia
Yes, please. November, the second half.
Krish Ahuja
So except that what was the revenue for the H2 of last year? Like 39 crores. What was the revenue of H2? Let’s event aside, we didn’t have a big event this year.
Amit Bhatia
Yeah.
Krish Ahuja
So what was that?
Amit Bhatia
I do not have the numbers with me. Can we. Can I just check. Ravi, can you answer this question please?
Ravi Kumar Mishra
What is the exact question?
Krish Ahuja
Yeah. Yeah. What was the Raven except the Korea event in x224?
Ravi Kumar Mishra
Okay, I don’t have the data ready now. But Please.
Amit Bhatia
But you know, I, I. What I understand from your question is that when we say that this is a 80 crore business. It is one single business. But it is spread over, you know, a period of time. It is not that that, you know, everybody travels on a single day. There is waves of traveling. There are, you know, 500, 600 people traveling every. Yeah. So it. It is not restricted. To just one day travel that the whole thing finishes in three day was I think for about 21 days. And pre that one month of preparation or something.
Krish Ahuja
Got it. Sir, just one more question regarding the. Regarding the profitability part will be able to remain the margins that were in XY24, in FY26.
Amit Bhatia
I have explained to you why we came down this year. You know you would. Yeah. So that is other peers.
Krish Ahuja
Xvcom or let’s say E Factor. They were also. But they posted good results in the H2 part.
Amit Bhatia
You know, I. I cannot comment about them. But what I can tell you is that you know the. The first name which you took. They have convention facilities which are up in Pune. So you know what happens is that the customer goes and uses their facility and they charge rental to it or something. I do not have details but. So what I can tell you is that our margins took a hit this year. We are hopeful that they will recover.
Krish Ahuja
Sure. So thank you. Already joined the G. Thank you sir.
Amit Bhatia
Thank you, Jean.
Operator
Thank you. Participants are requested to please limit their question to one per participant. The next question is from the line of Amol. An individual investor. Please go ahead.
Unidentified Participant
Am I audible?
Amit Bhatia
Yes, Amol. Please tell me. Good evening.
Unidentified Participant
Good evening, sir. So most of my questions have been answered. Just have a remark. So two weeks before your results we will that your number of events have increased by 70%. Right. And for a novice investor, for a new investor that will translate to revenue which didn’t happen. So sir, I would request you to if you can also mention that you know, this time you didn’t have a large order like last time that will give up clearer picture to investors. Because this does shake. Did shake my trust. So it’s just for the investors. Full level of information should be given. Thank you very much, sir.
Amit Bhatia
Sure. We take your advice. Like I said that we are very new into the listing field and we will take care of this in future.
Unidentified Participant
Thank you, sir.
Amit Bhatia
Thank you.
Operator
Thank you. The next question is from the line of Ram Babu, an individual investor. Please go ahead.
Ram Babu
Am I audible?
Amit Bhatia
Yes, please.
Ram Babu
Hello.
Amit Bhatia
Yes.
Ram Babu
Yeah. Actually sir, we are giving a loan of. Of 50 crores rupees to subsidiary whose revenue is 1.25 crores in the previous year. Okay. And you. That’s where I’m little skeptical. You raised 50 crores rupees for IPO. And all that money is going to subsidiary whose revenue is only 1.25 crores in the previous year.
Amit Bhatia
Babusab, we. We understand that this is a case. This is a reason of concern. The provision in the board meeting was just done to take one time approval. But I see that this is cause of concern. And we’ve addressed this. And I can assure you as soon as possible we will amend it. And the loan would be given to the company as in basis whenever it is needed. But I can guarantee you right now over the call that we will. We will amend this as soon as possible.
Ram Babu
Yes. Through IPO only. Okay. But of course you are saying we will have 20 crores orders for this year. But what is the guarantee but 50 crores. If you provide that money to that. What is the guarantee that we will get all the money back?
Amit Bhatia
No, no, no, no, sir. We are not giving them money right now. You know, it. It happens this way that. For example for the. For the next year conference which is 2026. They need money. We would give that money. But then parallelly the gentleman who operates this company is 28 years into the industry. He is a master of my conferences. So his query book, the pipeline also gives him a lot of access to conferences happening in 2020.
Ram Babu
If that guy is having 20 years of experience. So you mean to say in the previous year he has had a revenue only for 1.25 crores.
Amit Bhatia
Sir, what I can. I can guarantee you that we will amend this soon. As soon as possible. We’ve already taken this note. It is a. You know, we. It is a error on our part. We will take care of it and will be amended. The gentleman I am talking about just to close the topic here is. Has worked for various companies. And he’s just got into his personal business. But I would. I would guarantee here that. That 50 crores will be amended as soon as possible.
Ram Babu
Okay. Thanks.
Amit Bhatia
Thank you, sir.
Operator
Thank you. The next question is from the line of Gaurav Kotari, an individual investor. Please.
Gaurav Kothari
Good evening. Happy. Audible.
Amit Bhatia
Yes. Yes. Gaurav, how are you? Good evening to you.
Gaurav Kothari
I’m doing good, Amit. Sir. Thank you. So Amit, I have one question regarding the acquisition. Is it like we are betting on the person and acquiring the company? Shouldn’t it be like we acquire talent from a similar industry in order to build this vertical in house? That is one second, in case if you are betting on the person, is there a possibility like a few years down the line that person again starts his own venture and probably we face a threat in whichever business we build in next couple of years in that particular domain. That’s the first question. And second, what was the contribution of KUMB event in the revenue and what was the profitability there?
Amit Bhatia
You know, to start with this particular company we like I said there is the, the promoter of the company has a lot of years experience and has worked with various big companies which I cannot name but the big ones which you can think of and he along with team has started this venture. Now since you know the business contacts and the product is known to him whether it is Pedicon, Epicon or whatever. So these conferences, he has access, he has a relationship. So he started this company and perhaps he wanted somebody to invest and we were there to solve that problem for him.
Now you know, as far as your question is concerned that after three, four years will he, you know, start his own venture without us or something? You know, that risk happens everywhere. Although we have my compliance team and my consultants have taken care of that in practicality, in law angle. But in practicality, you know, I have learned this art to hold on to people. If you would see my PPT, there are ESOPs given to my teammates who’ve been with me and I think there are about 44 in number.
So what I’m trying to tell you here is by stating you example that you know, we, we I, I do not want to start the relationship with negativity of what is going to happen after three, four years. I want to start the relationship, I started the relationship with positivity and there are ways and means to ensure that the person is going to be with us and be part of our family. Having said that, there are other. Companies which we are currently in discussion with. I can state to you that we have Mr. Varun Mehta and his team who were head strategy and acquisition in easementrip who joined us about a month back. And we would now slowly penetrate deeper into the acquisition field. And with Varun’s entry into our company he brings in, you know, the relationship and the experience of acquisition. So this you would perhaps see number of news like this in, in the coming years.
Gaurav Kothari
And one more question was adding the revenue and profitability contribution of the event.
Amit Bhatia
Oh sorry. Now you know the Kumbh event, the revenue was not too much. I think about 20 lakhs or something with a profitability of surprisingly 18 to 19%. But we could not have numbers to it because of the reasons given to you. You know it, it was an unorganized structure. You know how it happens that we partnered with five camp holders. We signed a contract with them or we got them their products to sell. But since it was an unorganized structure there was a fire when you know, a few cabs were burned.
The other people jacked up the prices. So from 15,000 they went up to about 50,000. Then there was a second fire, they went up to 1 lakh. So it was unorganized sector where we could not really, you know, do much. But it is a learning for us and we would, you know get more deeper into this business in the coming years.
Gaurav Kothari
Okay. Thank you sir.
Operator
Thank you. Ladies and gentlemen, due to time constraints that was the last question for today. I now hand the conference over to Mr. Amit Bhatia for closing comments.
Amit Bhatia
You know, thank you everyone. I from the call I, I Mr. Babu had pointed out about that 50 crore loan. So I can assure you at this forum we will we perhaps we have put across this at the wrong sense. But we are not providing loan of 50 crores in one go. It will go in various ranches. It will go. Whenever he receives a particular business. It’ll be a work capital but there will be still a cap of some figure which we will figure it out. We will amend this 50 crores as soon as possible and I would ensure that the shareholders and the investors are advised on the new number and soon as possible.
Thank you everyone and I look forward to seeing you again after six months and we take you some gentlemen had given a suggestion of quarterly figures so we appreciate feedback like this. The compliance email ID is there. Just grab your laptop and send us mail. We appreciate feedbacks and we will ensure that we you know amend whatever changes we have to bring into the company. Thank you once again and thank you for trusting Mac Conferences. I look forward to seeing you again. Thank you. Jeeta Visghar. t
Operator
Thank you on behalf of Mac Conferences and Events limited that concludes this conference. Thank you for joining us and you May now discuss Connect to 19.