Indian Hotels Co
Indian Hotels Co
Leisure Services F&OKey Fundamentals
MidcapHotels & ResortsLeisure ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has delivered good profit growth of 31.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.6%
Weaknesses
1- Stock is trading at 7.83 times its book value
Growth Rate
AI Analysis — Bull vs Bear
Indian Hotels Co Ltd has a market capitalisation of about ₹1,03,576 crore and trades at 44.9x earnings and 7.94x book value, with a dividend yield of 0.45%. Profits grew at a compounded 32% over 5 years and 22% over 3 years, and ROE improved to 14% from a 10-year average of 8%. Trailing-twelve-month sales and profit growth has slowed to 13%, and the stock returned 2% over the past year against a 5-year CAGR of 32%.
- Profit compounded at 31.6% CAGR over 5 years and 25% over 10 years, a long record of earnings growth across hospitality cycles.
- Over 3 years, sales grew at a 19% CAGR and profit at 22%, so the growth extends well past the post-pandemic rebound year.
- Over 10 years, profit grew at a 25% CAGR while sales grew at 9%. Profit outpacing revenue by that margin points to sustained operating leverage and margin expansion.
- ROE rose to 14% last year and over 3 years, up from a 10-year average of 8% and a 5-year average of 12%, which shows improving capital efficiency.
- TTM sales and profit both grew 13%, so growth is still in double digits even after strong base years.
- The stock has delivered a 32% CAGR over 5 years and 20% over 10 years, broadly in line with underlying profit growth rather than driven by valuation alone.
- A dividend payout ratio of 19.6% returns some cash to shareholders while keeping about 80% of earnings for expansion and balance-sheet use.
- A market capitalisation of about ₹1,03,576 crore places the company among the largest listed hospitality businesses in India, which supports liquidity and institutional participation.
- At 7.94x book value, the valuation is high relative to a 14% ROE. The implied return on the market price is under 2%, so the price already assumes a sharp further rise in returns on capital.
- A P/E of 44.9 against 13% TTM profit growth implies a PEG ratio of roughly 3.5, which leaves little room for any earnings disappointment.
- Growth is slowing. TTM sales growth of 13% trails the 3-year CAGR of 19%, and TTM profit growth of 13% trails the 3-year CAGR of 22%.
- The 5-year sales CAGR of 44% is inflated by a pandemic-depressed base. The 10-year sales CAGR of 9% better reflects long-run revenue growth.
- The 10-year average ROE of 8% shows how cyclical hotel economics can be. The current 14% may not hold through an industry downturn or a demand shock.
- The stock returned just 2% over the past year, compared with 21% over 3 years and 32% over 5 years, which suggests multiple compression as growth normalises.
- At a 0.45% dividend yield, shareholder returns depend almost entirely on share price appreciation.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Festive bookings up 10-15% Sep 9
Indian hotels, Indian Hotels Company among them, report 10-15% higher festive-season bookings than last year, and room rates are rising too. Experience-led travel is driving occupancy and revenue growth, which points to RevPAR gains in the coming quarters.
- J.P. Morgan conference investor meet Sep 16
Indian Hotels will meet investors and analysts at the J.P. Morgan India Conference on September 21, 2026, in one-on-one and group sessions. This is routine investor outreach, though management comments on festive demand and pricing could move sentiment.
TL;DR: Industry demand for Indian Hotels looks strong: festive bookings are up 10-15% year on year and room rates are rising, which should help occupancy and ARR. The articles flag no specific risks, but the positive is industry-wide and shared with EIH, Chalet and Lemon Tree, so it doesn't set INDHOTEL apart. The near-term trend looks better, and the September 21 J.P. Morgan meet is the next chance to hear management's guidance on festive-quarter RevPAR.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,466 | 1,433 | 1,964 | 1,905 | 1,550 | 1,826 | 2,533 | 2,425 | 2,041 | 2,041 | 2,842 | 2,765 | 2,339 |
| Expenses | 1,056 | 1,078 | 1,231 | 1,246 | 1,101 | 1,325 | 1,571 | 1,568 | 1,465 | 1,471 | 1,766 | 1,793 | 1,666 |
| Operating Profit | 410 | 355 | 732 | 660 | 450 | 501 | 962 | 857 | 576 | 570 | 1,076 | 973 | 673 |
| OPM % | 28% | 25% | 37% | 35% | 29% | 27% | 38% | 35% | 28% | 28% | 38% | 35% | 29% |
| Other Income | 49 | 48 | 40 | 46 | 46 | 371 | 59 | 59 | 61 | 83 | 334 | 79 | 80 |
| Interest | 57 | 59 | 53 | 52 | 50 | 52 | 52 | 54 | 55 | 56 | 56 | 55 | 57 |
| Depreciation | 109 | 111 | 114 | 120 | 117 | 125 | 134 | 142 | 143 | 145 | 150 | 167 | 163 |
| PBT | 294 | 232 | 605 | 535 | 328 | 696 | 834 | 720 | 440 | 453 | 1,203 | 830 | 533 |
| Tax % | 28% | 31% | 28% | 26% | 29% | 18% | 26% | 25% | 27% | 30% | 22% | 25% | 27% |
| Net Profit | 236 | 179 | 477 | 438 | 260 | 583 | 633 | 563 | 329 | 318 | 954 | 645 | 391 |
| EPS in Rs | 1.57 | 1.18 | 3.18 | 2.93 | 1.75 | 3.9 | 4.09 | 3.67 | 2.08 | 2 | 6.35 | 4.21 | 2.51 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,189 | 4,023 | 4,021 | 4,104 | 4,512 | 4,463 | 1,575 | 3,056 | 5,810 | 6,769 | 8,335 | 9,689 | 9,987 |
| Expenses | 3,762 | 3,411 | 3,411 | 3,432 | 3,682 | 3,496 | 1,937 | 2,651 | 4,005 | 4,609 | 5,565 | 6,493 | 6,696 |
| Operating Profit | 427 | 612 | 610 | 671 | 830 | 968 | -362 | 405 | 1,805 | 2,160 | 2,769 | 3,196 | 3,291 |
| OPM % | 10% | 15% | 15% | 16% | 18% | 22% | -23% | 13% | 31% | 32% | 33% | 33% | 33% |
| Other Income | -193 | -43 | 44 | 83 | 90 | 173 | 325 | 171 | 142 | 181 | 535 | 557 | 577 |
| Interest | 176 | 376 | 324 | 269 | 190 | 341 | 403 | 428 | 236 | 220 | 208 | 221 | 224 |
| Depreciation | 291 | 285 | 299 | 301 | 328 | 404 | 410 | 406 | 416 | 454 | 518 | 605 | 625 |
| PBT | -232 | -91 | 31 | 184 | 402 | 396 | -850 | -258 | 1,295 | 1,666 | 2,578 | 2,926 | 3,019 |
| Tax % | 49% | 99% | 372% | 66% | 39% | 11% | -18% | -14% | 25% | 28% | 24% | 25% | — |
| Net Profit | -347 | -203 | -46 | 104 | 296 | 364 | -796 | -265 | 1,053 | 1,330 | 2,038 | 2,247 | 2,309 |
| EPS in Rs | -3.51 | -1.75 | -0.48 | 0.76 | 2.17 | 2.68 | -5.45 | -1.74 | 7.06 | 8.85 | 13.4 | 14.64 | 15.07 |
| Div. Payout % | 0% | -13% | -55% | 47% | 21% | 17% | -7% | -23% | 14% | 20% | 17% | 22% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 81 | 99 | 99 | 119 | 119 | 119 | 119 | 142 | 142 | 142 | 142 | 142 |
| Reserves | 2,146 | 2,481 | 2,419 | 4,062 | 4,229 | 4,238 | 3,530 | 6,920 | 7,840 | 9,314 | 11,018 | 12,910 |
| Borrowings | 5,074 | 4,526 | 3,383 | 2,427 | 2,326 | 4,501 | 5,518 | 3,888 | 3,139 | 2,736 | 3,084 | 2,837 |
| Other Liabilities | 2,582 | 2,691 | 2,698 | 2,706 | 2,840 | 2,584 | 2,268 | 2,052 | 2,391 | 2,541 | 3,371 | 4,332 |
| Total Liabilities | 9,884 | 9,797 | 8,599 | 9,314 | 9,514 | 11,442 | 11,435 | 13,002 | 13,512 | 14,733 | 17,616 | 20,221 |
| Fixed Assets | 6,299 | 6,762 | 5,815 | 6,163 | 6,422 | 8,059 | 8,438 | 8,415 | 8,819 | 9,311 | 10,918 | 12,210 |
| CWIP | 306 | 290 | 223 | 197 | 116 | 244 | 165 | 194 | 332 | 256 | 633 | 787 |
| Investments | 1,587 | 1,515 | 1,244 | 1,511 | 1,335 | 1,427 | 1,483 | 1,967 | 1,891 | 2,261 | 2,279 | 3,606 |
| Other Assets | 1,692 | 1,231 | 1,317 | 1,443 | 1,641 | 1,712 | 1,349 | 2,426 | 2,470 | 2,905 | 3,786 | 3,617 |
| Total Assets | 9,884 | 9,797 | 8,599 | 9,314 | 9,514 | 11,442 | 11,435 | 13,002 | 13,512 | 14,733 | 17,616 | 20,221 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 495 | 619 | 535 | 492 | 711 | 823 | -319 | 672 | 1,619 | 1,935 | 2,194 | 2,471 |
| Investing | -726 | 341 | 848 | -521 | -387 | -497 | -118 | -1,641 | -138 | -1,208 | -1,869 | -1,346 |
| Financing | 491 | -1,196 | -1,381 | 96 | -343 | -265 | 280 | 1,659 | -1,528 | -985 | -547 | -976 |
| Net Cash Flow | 260 | -237 | 1 | 67 | -19 | 62 | -157 | 689 | -47 | -257 | -222 | 149 |
| Free Cash Flow | 184 | 253 | 954 | -13 | 251 | 511 | -506 | 387 | 1,191 | 1,302 | 1,133 | 1,444 |
| CFO/OP | 121 | 116 | 102 | 95 | 110 | 106 | 95 | 152 | 104 | 104 | 100 | 98 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 22 | 25 | 29 | 26 | 24 | 51 | 30 | 28 | 26 | 28 | 27 |
| Inventory Days | 85 | 80 | 81 | 83 | 73 | 92 | 236 | 143 | 84 | 82 | 64 | 57 |
| Days Payable | 273 | 286 | 294 | 330 | 294 | 383 | 807 | 550 | 368 | 364 | 273 | 276 |
| Cash Conversion Cycle | -162 | -184 | -189 | -217 | -195 | -268 | -520 | -376 | -256 | -257 | -180 | -191 |
| Working Capital Days | -66 | -166 | -114 | -69 | -112 | -99 | -555 | -165 | -84 | -61 | -40 | -37 |
| ROCE % | 4% | 5% | 5% | 6% | 8% | 7% | -6% | 1% | 13% | 15% | 17% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Indian Hotels Co insights
63 extracted metrics + investor summaries across FY01–FY27.
Documents
Frequently Asked Questions about Indian Hotels Co
What does Indian Hotels Co Ltd do?
Where is Indian Hotels Co Ltd (INDHOTEL) listed?
Which sector does Indian Hotels Co Ltd belong to?
What is the market capitalisation of Indian Hotels Co Ltd?
What is the PE ratio of Indian Hotels Co Ltd?
What is the 52-week high and low of Indian Hotels Co Ltd?
Does Indian Hotels Co Ltd pay dividends?
What is the Return on Equity (ROE) of Indian Hotels Co Ltd?
Company Information
IHCL is one of India’s leading hospitality companies. IHCL and its subsidiaries comprise diversified portfolio across luxury, upscale/upper upscale and lean luxury/midscale segments. IHCL’s operations are spread across four continents, 12 countries and over 100 cities.[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/INDHOTEL.md for Indian Hotels Co Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.