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    Aditya Suresh

    Research Analyst at Macquarie Group

    Aditya Suresh is the Head of India Equity Research at Macquarie Group, specializing in providing in-depth research and analysis for institutional investors focused on the Indian equity market. Under his leadership, the team covers a range of leading Indian companies across sectors such as digital transformation, finance, and consumer growth, and has achieved top-3 rankings in Institutional Investor’s regional surveys for both 2022 and 2024. With over 15 years of experience in equity research, Aditya has built a reputation for rigorous, first-principles analysis that delivers actionable insights for clients. He holds senior management responsibility at Macquarie and is recognized for steering industry conversations on major trends driving the Indian economy.

    Aditya Suresh's questions to MakeMyTrip (MMYT) leadership

    Aditya Suresh's questions to MakeMyTrip (MMYT) leadership • Q1 2026

    Question

    Aditya Suresh of Macquarie Group questioned if there was any down-trading in hotel average daily rates (ADRs), the contribution of MICE travel to growth, the long-term growth potential for ancillary services, and recent changes to the board's composition.

    Answer

    Group CEO Rajesh Magow confirmed that hotel ADRs did not see a material drop. He also noted that corporate travel, including MICE, was a strong growth driver. Group CFO Mohit Kabra expressed confidence that the ancillary services segment could sustain high growth, possibly in the 30% range, driven by new product additions. Mr. Kabra also detailed the board changes, including a reduction in Trip.com nominees and the addition of independent directors.

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    Aditya Suresh's questions to MakeMyTrip (MMYT) leadership • Q2 2025

    Question

    Aditya Suresh requested the share of international business in gross bookings for air and hotels, clarification on ancillary service attach rates, and an explanation for the decline in hotel value per booking despite a higher international mix.

    Answer

    Group CFO Mohit Kabra provided the international mix for adjusted margin: 38% for air and nearly 18% for hotels. He noted that ancillary attach rates are stable, and the growth in the "other" segment is driven by new services like car rentals and ForEx. He explained that the value per booking reflects a moderation in hotel price increases after two years of significant catch-up, rather than a decline in demand.

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    Aditya Suresh's questions to CHINA PETROLEUM & CHEMICAL (SNPMF) leadership

    Aditya Suresh's questions to CHINA PETROLEUM & CHEMICAL (SNPMF) leadership • Q3 2017

    Question

    Aditya Suresh noted that domestic gas production was tracking above expectations and asked for the company's latest thoughts on this trend, as well as guidance on margins for both domestic gas and oil volumes.

    Answer

    An executive from the upstream business attributed the higher-than-expected gas production to robust market demand, which the company moved to supply. He anticipates an even stronger Q4 due to winter seasonality and the ongoing shift from coal to gas power. Another executive specified that the margin for both conventional and unconventional gas is approximately CNY 0.10 per cubic meter.

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