Indian Hotel

₹314 -1.2 | 0.4%

WEBSITE BSE:500850 NSE : INDIAN HOTEL 23 Mar, 16:01

Market Cap ₹44466 Cr.

Stock P/E 59.6

P/B 5.9

Current Price ₹314

Book Value ₹ 53.3

Face Value 1

52W High ₹348.7

Dividend Yield 0.13%

52W Low ₹ 207.3

Edit Ratio

Indian Hotel Research see more...

Equity Research: INDIAN HOTELS COMPANY LIMITED

Brand Value and Favourable Dynamics of Sector Are Main Parameters Supporting The Indian Hotels Company Limited

Overview Inc. Year: 1902Industry: Hotel, Resort & Restaurants

The Indian Hotels Company Ltd is a holding organisation. The Company is engaged in short-term period accommodation activities, and restro and mobile food provider activities. The Company is mostly engaged inside the business of owning, operating and managing lodges, palaces and resorts beneath numerous manufacturers, together with Taj, SeleQtions, Vivanta, The Gateway, Ginger, Expressions, ama Stays and Trails and TajSATS. It additionally operates restaurants, food and beverage enterprise beneath Golden Dragon, Wasabi by Morimoto, Thai Pavilion, House of Ming and Shamiana brands. The Company adopt its enterprise through direct ownership of accommodations, hire preparations, licensing arrangements and running/management contracts and franchises. It owns a portfolio of 232 resorts, which include 61 under development projects globally across 4 continents, 12 nations and in over 100 places.

Quarterly Price

Quarterly Monthly

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Peer Comparison

Indian Hotel Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	257	560	615	345	728	1111	872	1266	1233	1686
Other Income	67	55	11	26	24	23	83	27	25	58
Total Income	324	615	626	370	752	1134	955	1293	1258	1744
Total Expenditure	407	577	544	493	656	789	713	888	939	1089
Operating Profit	-83	38	83	-123	97	344	242	405	319	655
Interest	97	112	106	110	114	125	79	62	60	57
Depreciation	103	102	104	103	102	100	102	103	103	103
Exceptional Income / Expenses	20	28	25	20	-11	-10	16	-9	12	0
Profit Before Tax	-263	-148	-102	-315	-130	109	77	231	169	495
Provision for Tax	-43	-31	-12	-45	-11	23	-3	65	44	116
Profit After Tax	-220	-118	-90	-270	-118	86	80	166	124	379
Adjustments	-10	-1	-1	-7	-2	-10	-6	4	-3	4
Profit After Adjustments	-230	-119	-91	-277	-121	76	74	170	122	383
Adjusted Earnings Per Share	-1.9	-1	-0.7	-2.3	-1	0.6	0.5	1.2	0.9	2.7

Indian Hotel Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	3444	3743	4066	4189	4023	4021	4104	4512	4463	1575	3056	5057
Other Income	108	94	90	129	100	63	71	87	132	165	155	193
Total Income	3551	3838	4156	4318	4123	4083	4175	4599	4596	1740	3211	5250
Total Expenditure	2898	3206	3507	3700	3471	3411	3433	3682	3496	1937	2651	3629
Operating Profit	653	632	650	618	652	673	742	917	1100	-197	560	1621
Interest	249	205	199	206	376	332	279	194	341	403	428	258
Depreciation	255	288	308	291	285	299	301	328	404	410	406	411
Exceptional Income / Expenses	-2	-430	-555	-353	-83	-11	22	7	41	160	16	19
Profit Before Tax	148	-292	-412	-232	-91	31	184	402	396	-850	-258	972
Provision for Tax	122	99	111	115	91	114	121	157	45	-155	-36	222
Profit After Tax	26	-391	-523	-347	-182	-83	63	245	351	-694	-222	749
Adjustments	-23	-39	-31	-31	-49	20	38	42	4	-26	-25	-1
Profit After Adjustments	3	-430	-554	-378	-231	-63	101	287	354	-720	-248	749
Adjusted Earnings Per Share	0	-4.8	-6.2	-4.2	-2.1	-0.6	0.8	2.3	2.9	-5.9	-1.7	5.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	94%	-12%	-5%	-1%
Operating Profit CAGR	0%	-15%	-4%	-2%
PAT CAGR	0%	NAN%	0%	NAN%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	45%	63%	20%	20%
ROE Average	-4%	-4%	-1%	-6%
ROCE Average	2%	2%	5%	3%

Indian Hotel Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	3094	2979	2636	2227	2580	2518	4181	4348	4357	3648	7062
Minority's Interest	647	708	736	738	743	738	777	800	765	635	593
Borrowings	3084	3431	3024	4598	3419	2790	2329	1688	2126	2224	1388
Other Non-Current Liabilities	808	897	844	889	639	714	633	589	2293	1940	1925
Total Current Liabilities	1597	1277	2275	1432	2416	1839	1393	2089	1901	2948	1964
Total Liabilities	9230	9291	9514	9884	9797	8599	9314	9514	11442	11395	12932
Fixed Assets	5706	5896	6215	6299	6762	5815	6163	6422	8059	8438	8415
Other Non-Current Assets	2677	2442	2359	1853	2091	1857	1932	1933	1946	1803	1842
Total Current Assets	847	948	937	1724	944	926	1220	1159	1437	1154	2674
Total Assets	9230	9291	9514	9884	9797	8599	9314	9514	11442	11395	12932

Indian Hotel Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	135	85	124	153	377	140	141	208	189	251	94
Cash Flow from Operating Activities	534	502	539	495	619	535	492	711	823	-319	672
Cash Flow from Investing Activities	365	-347	-301	-726	338	855	-529	-388	-502	-120	-1642
Cash Flow from Financing Activities	-1052	-117	-212	491	-1196	-1381	96	-343	-265	280	1659
Net Cash Inflow / Outflow	-154	37	26	260	-240	8	59	-20	56	-158	688
Closing Cash & Cash Equivalent	85	124	153	413	140	141	208	189	251	94	784

Indian Hotel Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	0.04	-4.83	-6.22	-4.25	-2.12	-0.58	0.82	2.34	2.89	-5.87	-1.74
CEPS(Rs)	3.37	-1.15	-2.42	-0.63	0.94	1.98	2.97	4.67	6.15	-2.32	1.29
DPS(Rs)	1	0.8	0	0	0.3	0.35	0.4	0.5	0.5	0.4	0.4
Book NAV/Share(Rs)	35.07	32.89	28.95	24.37	23.66	23.09	34.08	35.44	35.51	29.74	49.72
Core EBITDA Margin(%)	15.83	14.36	13.76	11.66	13.73	15.16	16.34	18.39	21.68	-22.97	13.24
EBIT Margin(%)	11.5	-2.32	-5.25	-0.63	7.07	9.01	11.28	13.2	16.51	-28.36	5.55
Pre Tax Margin(%)	4.29	-7.79	-10.14	-5.55	-2.27	0.76	4.49	8.9	8.86	-53.93	-8.45
PAT Margin (%)	0.75	-10.44	-12.86	-8.29	-4.52	-2.07	1.54	5.42	7.86	-44.07	-7.28
Cash Profit Margin (%)	8.16	-2.73	-5.29	-1.33	2.56	5.38	8.88	12.69	16.92	-18.07	6.01
ROA(%)	0.29	-4.22	-5.56	-3.58	-1.85	-0.9	0.71	2.6	3.35	-6.08	-1.83
ROE(%)	0.93	-13.36	-19.01	-14.63	-7.66	-3.26	1.89	5.74	8.06	-17.34	-4.15
ROCE(%)	5.67	-1.28	-3.14	-0.37	3.96	5.57	7.4	8.97	10.81	-6.27	2.08
Receivable days	26.09	27.51	24.89	25.28	24.58	23.33	26.71	26.29	25	59.07	28.38
Inventory Days	7.68	8.93	8.92	8.93	8.31	7.29	7.39	6.72	7.12	21.61	11.57
Payable days	272.61	302.79	282.23	276.98	307.59	291.01	306.89	300.46	351.92	897.31	500.28
PER(x)	1577.68	0	0	0	0	0	150.15	64	25.13	0	0
Price/Book(x)	1.65	1.48	2.27	4.35	3.81	4.99	3.62	4.22	2.04	3.62	4.79
Dividend Yield(%)	1.57	1.5	0	0	0.3	0.28	0.31	0.32	0.67	0.36	0.17
EV/Net Sales(x)	2.46	2.12	2.44	3.34	3.52	3.9	4.22	4.53	2.51	10.58	11.34
EV/Core EBITDA(x)	12.98	12.55	15.25	22.67	21.73	23.35	23.33	22.3	10.18	-84.59	61.9
Net Sales Growth(%)	20.3	8.71	8.62	3.01	-3.95	-0.06	2.06	9.95	-1.08	-64.71	94.03
EBIT Growth(%)	24.99	-121.94	-145.46	87.68	1181.86	27.41	27.73	28.64	23.72	-160.64	137.94
PAT Growth(%)	137.49	-1613.36	-33.87	33.65	47.62	54.26	176.03	286.83	43.41	-297.91	67.96
EPS Growth(%)	103.52	0	-28.73	31.73	50.11	72.65	241.86	184.35	23.57	-303.18	70.29
Debt/Equity(x)	1.3	1.3	1.65	2.34	1.75	1.34	0.58	0.54	0.6	1	0.28
Current Ratio(x)	0.53	0.74	0.41	1.2	0.39	0.5	0.88	0.55	0.76	0.39	1.36
Quick Ratio(x)	0.48	0.67	0.37	1.13	0.36	0.46	0.81	0.52	0.71	0.36	1.31
Interest Cover(x)	1.59	-0.42	-1.07	-0.13	0.76	1.09	1.66	3.07	2.16	-1.11	0.4
Total Debt/Mcap(x)	0.78	0.88	0.73	0.54	0.46	0.27	0.16	0.13	0.29	0.28	0.06

Indian Hotel Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	40.75	40.75	40.75	40.75	40.75	41.05	38.19	38.19	38.19	38.19
FII	10.5	12.51	12.27	12.56	13.48	15.19	16.03	15.07	16.25	19
DII	31.49	29.59	29.16	27.99	27.07	25.29	28.64	29.69	29.32	26.68
Public	17.26	17.15	17.81	18.7	18.7	18.47	17.14	17.05	16.24	16.13
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	48.46	48.46	48.46	48.46	48.46	54.24	54.24	54.24	54.24	54.24
FII	12.49	14.88	14.59	14.94	16.03	20.08	22.77	21.4	23.09	26.99
DII	37.45	35.19	34.68	33.28	32.19	33.42	40.67	42.17	41.64	37.9
Public	20.53	20.39	21.19	22.24	22.24	24.4	24.35	24.22	23.07	22.91
Others	0	0	0	0	0	0	0	0	0	0
Total	118.93	118.93	118.93	118.93	118.93	132.14	142.04	142.04	142.04	142.04