StockWatch
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INDIAN HOTELS CO.LTD.

BSE: 500850

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
1.3K
-24.6%+18.0%
Expenditure
850.08
-12.2%+9.9%
Net Profit
337.18
-39.5%+37.9%
OPM %
38.68%
-8.33pp+3.96pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.00481.83963.661.4K1.9KQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

The ₹39.4% Profit Drop Hiding Behind Steady Growth

domestic-demand-surge · margin-compression · international-headwinds

Result verdictFollow-upQ1 FY2727 Jul 20266 minConsumer & Retail

Domestic demand masks international pain; margin pressure at inflection

domestic-demand-surge · leisure-led-growth · international-headwinds

TranscriptDeep diveQ1 FY2727 Jul 20266 minConsumer & Retail

IHCL consolidated PAT up 21% to ₹358 Cr; RevPAR-led 15% revenue growth expands margins

hotels · hospitality · revpar growth

ResultsQ1 FY2725 Jul 20263 minConsumer & Retail
Latest
Board Meeting21 Jul, 6:00 pm

IHCL consolidated PAT up 21% to ₹358 Cr; RevPAR-led 15% revenue growth expands margins

The Indian Hotels Company delivered a clean, seasonally-soft-but-YoY-strong June quarter. Consolidated revenue from operations rose 14.6% YoY to ₹2,339 Cr and net profit attributable to owners climbed 20.8% to ₹357.9 Cr (₹296.4 Cr a year ago), with EPS at ₹2.51. There were no exceptional items on either side of the comparison, so the print is fully underlying — profit growth outpacing revenue growth is genuine operating leverage, not an accounting one-off. The sequential fall (revenue −15.4% and PAT −40% vs Q4's ₹2,765 Cr / ₹645 Cr) is pure seasonality: Q1 is the weakest quarter and Q4 the peak for Indian hospitality, so the QoQ decline is expected and not the story. Margins expanded on the back of rate-led RevPAR: management/investor slides cite ~14% like-for-like domestic RevPAR growth, EBITDA up 18% to ₹753 Cr and EBITDA margin up ~80 bps to 31.1% (from 30.3%). Net profit margin improved to ~16.7% from ~16.1%. The revenue driver is rate hikes rather than pure volume, consistent with the FY27 plan. Notably, standalone PAT jumped 37.9% to ₹337 Cr on 17.9% standalone revenue growth — materially ahead of the consolidated +21% — because the consolidated line absorbs newly-added, still-ramping entities (Brij, ANK, Pride consolidated during/after the quarter, ₹192.76 Cr provisional goodwill on Brij) and minority interest; readers seeing the ₹337 Cr standalone figure elsewhere should treat consolidated ₹358 Cr as the primary, group-wide number. Against the street this is a beat: Nomura flagged a revenue and EBITDA beat and "likely above-guidance FY27 revenue growth" (Buy, TP ₹830), and Jefferies reiterated Buy (TP ₹875) on strong RevPAR and earnings upgrades. Against management's own FY26-concall guidance of 12-14% FY27 revenue growth with sustained margins, Q1's 14.6% topline is tracking at/above the upper end while margins expanded rather than merely held — an on-track-to-ahead start. Corporate momentum supports the trajectory: the portfolio crossed 645 hotels with 20 signings/openings in the quarter and the Brij acquisition (51%, ₹221.8 Cr) closed on Apr 21, feeding the capital-light-plus-selective-M&A expansion the company guided to. This quarter confirms, rather than contradicts, the confident/optimistic tone from the May 2026 call.

21 Jul 2026, 06:00 pm

Corporate Events

Board MeetingINDHOTEL
2026
21Jul

Board Meeting

A meeting of the Board of Directors of the Company has been …

BSE Filing
Board MeetingINDHOTEL
2026
30Jun

Board Meeting

The 125th AGM of The Indian Hotels Company Limited will be h…

BSE Filing
DividendINDHOTEL
2026
23Jun

₹3.25 / share

BSE Filing
DividendINDHOTEL
2026
23Jun

₹3.25 / share

BSE Filing
Board MeetingINDHOTEL
2024
19Jul

Board Meeting

Consider and approve the Un-Audited (Reviewed) Financial Res…

BSE Filing
Board MeetingINDHOTEL
2024
24Apr

Board Meeting

Consideration and approval of The Audited Standalone and Con…

BSE Filing
Board MeetingINDHOTEL
2024
1Feb

Board Meeting

Consider and approve Un-Audited (Reviewed) Financial Results…

BSE Filing
Board MeetingINDHOTEL
2023
27Oct

Board Meeting

Consideration and approval of equity shares issue

BSE Filing