StrengthTalking point
Debt reduced
Total debt is down from ₹1,985 to ₹51 over 4 years (97.4% lower); debt-to-equity moved 0.26× → 0.00×.
Importance 67 / 95 · financial health
THE INDIAN HOTELS COMPANY LTD · Research view
THE INDIAN HOTELS COMPANY LTD
NSE: INDHOTELBSE: 500850ISIN INE053A01029Face value ₹1standalone
₹716
+0.24% · 2026-10-01 · 52-wk ₹571–₹752
Financials to FY2026 · 5 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
StrengthTalking point
Book value compounding
Net worth compounded at 18.2% a year over 4 years (₹7,655 → ₹14,939).
Importance 57 / 95 · financial health
StrengthTalking point
Compounding revenue
Revenue compounded at 33.4% a year over 4 years (₹3,056 → ₹9,689) — though FY2023 saw a one-off step-change of 90% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Importance 52 / 95 · growth
Section 03 · The company
Who is this company?
Classified by the exchange under Consumer Discretionary › Consumer Services › Leisure Services › Hotels & Resorts.
- Market cap
- ₹1.02 L cr
- FY2026 revenue
- ₹5,380 cr
- FY2026 net profit
- ₹2,012 cr
- Net worth
- ₹12,767 cr
- Total debt
- ₹0 crnet cash
- EPS (basic)
- ₹14.13
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 3 leisure services.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Revenue compounded at 33.4% a year over 4 years (₹3,056 → ₹9,689) — though FY2023 saw a one-off step-change of 90% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Rule REVENUE_CAGR_STRONG
- Revenue growth per year
- +28.0%over 4 years
- Revenue growth
- +9.4%vs last year
- Net profit growth
- +42.4%vs last year
- Change in net profit since FY22
- +5940%
Revenue grew 16.3% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 net profit was ₹391 cr, up 18.7% from ₹329 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 revenue was ₹2,339 cr, up 14.6% from ₹2,041 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
Strength
Q1 FY27 EBIT was ₹590 cr, up 19.4% from ₹494 cr a year earlier.
Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 1,826 | — | 583 | — | 31.9% |
| Q3 FY25 | 2,533 | +29.0% | 633 | +32.6% | 25.0% |
| Q4 FY25 | 2,425 | +27.3% | 563 | +28.4% | 23.2% |
| Q1 FY26 | 2,041 | +31.7% | 329 | +26.6% | 16.1% |
| Q2 FY26 | 2,041 | +11.8% | 318 | −45.4% | 15.6% |
| Q3 FY26 | 2,842 | +12.2% | 954 | +50.9% | 33.6% |
| Q4 FY26 | 2,765 | +14.0% | 645 | +14.7% | 23.3% |
| Q1 FY27 | 2,339 | +14.6% | 391 | +18.7% | 16.7% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹9,987 crTTM
- EBITDA
- ₹3,593 crTTM
- EBIT
- ₹2,968 crTTM
- PBT
- ₹3,019 crTTM
- Net profit
- ₹2,309 crTTM
C. Corporate actions
23 Jun 2026DividendFinal Dividend - Rs. - 3.2500 — ₹3.25/share
30 Jun 2025DividendFinal Dividend - Rs. - 2.2500 — ₹2.25/share
7 Jun 2024DividendFinal Dividend - Rs. - 1.7500 — ₹1.75/share
9 Jun 2023DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
22 Jun 2022DividendDividend - Rs. - 0.4000 — ₹0.40/share
11 Nov 2021Rights issueRight Issue of Equity Shares
14 Jun 2021DividendFinal Dividend - Rs. - 0.4000 — ₹0.40/share
17 Jul 2020DividendFinal Dividend - Rs. - 0.5000 — ₹0.50/share
12 Jun 2019DividendDividend - Rs. - 0.5000 — ₹0.50/share
11 Jul 2018DividendDividend - Rs. - 0.4000 — ₹0.40/share
4 Oct 2017Rights issueRight Issue of Equity Shares
11 Aug 2017DividendDividend - Rs. - 0.3500 — ₹0.35/share
12 Aug 2016DividendDividend - Rs. - 0.3000 — ₹0.30/share
18 Jul 2014Rights issueRight Issue of Fully Convertible Debentures
17 Jul 2013DividendDividend - Rs. - 0.8000 — ₹0.80/share
18 Jul 2012DividendDividend - Rs. - 1.0000 — ₹1.00/share
20 Jul 2011DividendDividend - Rs. - 1.0000 — ₹1.00/share
23 Jul 2010DividendDividend - Rs. - 1.0000 — ₹1.00/share
17 Jul 2009DividendDividend - Rs. - 1.2000 — ₹1.20/share
22 Apr 2008DividendInterim Dividend - Rs. - 1.9000 — ₹1.90/share
21 Feb 2008Rights issueRight Issue of Equity Shares
21 Feb 2008Rights issueRight Issue of NCD with Warrants
18 Jul 2007DividendDividend - Rs. - 1.6000 — ₹1.60/share
27 Oct 2006Otherother
30 Jul 2001DividendDividend - Rs. - 10.0000 — ₹10.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Margin and return trends are shown above.
- EBITDA margin now
- 47.3%
- 5-year range
- 26.8–47.3%
- ROE FY2026
- 16.8%
- ROCE FY2026
- 18.9%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Total debt is down from ₹1,985 to ₹51 over 4 years (97.4% lower); debt-to-equity moved 0.26× → 0.00×.
Rule DEBT_FELL_MULTIYEAR
Operating cash flowNet profit
- Total debt
- ₹0 crnet cash
- Operating cash flow ÷ net profit
- 0.85×FY2026
- Free cash flow
- ₹1,387 cr
- Current ratio
- 2.79×
Net worth compounded at 18.2% a year over 4 years (₹7,655 → ₹14,939).
Free cash flow has been positive in 5 of the last 5 years.
Section 08 · Relative position
How does it compare with peers?
Ranked against 3 leisure services (FY2026, consolidated). No peer-relative rule fired for this company.
Revenue growth
INDHOTEL · 2nd of 3 · set median 16.3%
EBITDA margin
INDHOTEL · 2nd of 3 · set median 35.9%
Return on equity
INDHOTEL · 3rd of 3 · set median 19.4%
P/E ratio
INDHOTEL · 2nd of 3 · set median 44.2×
- P / E
- 44.2×TTM to Jun 26
- P / B
- 6.8×latest book
- P / S
- 10.2×TTM sales
- Earnings yield
- 2.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 45.4× · P/S 10.2× · ROE 16.4%.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- −1.0%
- 3-year return
- +74.2%
- 5-year return
- +289.0%
- From 52-wk high
- −4.8%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹728
- vs 200-day avg
- Above₹689
- RSI (14)
- 45.2neutral
- MACD histogram
- -1.5
- From 52-wk high
- −4.8%
- From 52-wk low
- +25.4%
- 30-day volatility
- 21.7%ann.
- 6-month return
- +18.6%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- WatchReported profit carries a one-offFY2026 pre-tax profit includes a ₹276 exceptional gain (9.4% of PBT) — the underlying trend differs from the reported number.PROFIT_INCLUDES_EXCEPTIONALS · conviction 39
- The price-adjusted series does not correct for 5 rights issues (ex-dates 2008-02-21, 2008-02-21, 2014-07-18, 2017-10-04, 2021-11-11) — BSE's corporate-actions feed does not carry the subscription price or ratio a rights adjustment needs, unlike splits and bonuses, which are corrected. Returns spanning those dates may be modestly overstated or understated.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,003 | 3,704 | 4,406 | 4,917 | 5,380 |
| Total income | 2,152 | 3,811 | 4,590 | 5,145 | 5,640 |
| EBITDA | 537 | 1,497 | 1,897 | 2,261 | 2,543 |
| Profit before tax | −27 | 1,139 | 1,483 | 1,887 | 2,588 |
| Net profit | −34 | 843 | 1,095 | 1,413 | 2,012 |
| EPS (₹) | −0.3 | 5.9 | 7.7 | 9.9 | 14.1 |
| Net worth | 8,100 | 8,839 | 10,144 | 11,256 | 12,767 |
| Total debt | 943 | 450 | 0 | 0 | 0 |
| Operating cash flow | 693 | 1,227 | 1,528 | 1,517 | 1,714 |
| Free cash flow | 584 | 905 | 1,166 | 1,170 | 1,387 |
| Ratio | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth YoY | — | 84.9 | 18.9 | 11.6 | 9.4 |
| Profit growth YoY | — | — | 29.9 | 29.1 | 42.4 |
| Profitability | |||||
| EBITDA margin % | 26.8 | 40.4 | 43.1 | 46.0 | 47.3 |
| Net margin % | -1.6 | 22.1 | 23.9 | 27.5 | 35.7 |
| Return on equity % | -0.4 | 10.0 | 11.5 | 13.2 | 16.8 |
| Return on capital % | 3.7 | 14.1 | 17.2 | 18.7 | 18.9 |
| Leverage & cash | |||||
| Debt to equity | 0.12 | 0.05 | 0.00 | 0.00 | 0.00 |
| Cash flow ÷ profit | — | 1.46 | 1.40 | 1.07 | 0.85 |
| Current ratio | 1.62 | 1.27 | 1.78 | 2.26 | 2.79 |