Is MMYT halal?
MakeMyTrip Limited
Not halal
MakeMyTrip Limited did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
46.595
Day
-0.40%
Market cap
$4.17B
Industry
Travel Services
Sector
Consumer Cyclical
What the company does
MakeMyTrip is India's largest online travel agency (MakeMyTrip, Goibibo, redBus): flights, hotels and bus booking. Its money comes from commissions; it owns no hotels.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $1.44B ÷ current market cap $4.17B = 34.4%
34.4%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $794.24M ÷ current market cap $4.17B = 19.0%
19.0%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $27.15M ÷ annual revenue $1.04B (2026) = 2.6%
2.6%
Pass
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 54.1% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- SPWO 0.04%
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 2 superinvestors · Average reported price: $53.29
All superinvestor portfoliosManually reviewed — clean
The industry was flagged as sensitive, so the company's filings were checked by hand on 15 August 2026. Conclusion:
MakeMyTrip — Hindiston sayohat bron qilish vositachisi. Mehmonxona EGASI emas (BKNG/EXPE bilan bir mantiq)
Halal stocks in the same industry
The largest halal stocks in Travel Services — for comparison.
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.