AT TIME WHEN TRAVEL and related activity such as foreign exchange transactions have been on the decline, EbixCash, which has a leading play in these sectors — and beyond — is on target to clock more than $800 million in revenues in CY 2021 at an EBITDA of nearly $100 million. What makes this further noteworthy is the consistent profitability of the company in India while growing at a CAGR of 66 percent over the past three years.
In addition to approximately 11,000 employees, EbixCash has a larger physical network than any of the banks, through 300,000 ‘phygital’ franchisee locations including 50,000 bank branches serving as remittance outlets. Through these phygital locations, it provides a plethora of digital locations that position it way ahead of the competition.
According to Robin Raina, Chairman and CEO of the US-based parent company Ebix Inc, and Founder of EbixCash in India, EbixCash’s focused approach to converge distribution with a backend play and empowering both sides creates the market while simultaneously providing the required technology ondemand.
The result is that EbixCash is a leader in nearly every segment it has entered, barring the limited exception of domestic B2C (business to consumer) travel. Even in travel, the company was clocking $120 million in revenues and 22 percent operating margins in pre-Covid times. To put this in perspective, the other two players, Makemytrip and Yatra, continue posting record losses.
An Infra Mindset
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