BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
The Indian Hotels Company Ltd. Q2 FY21 revenue decline at 75% YoY was higher than our estimate of 69%.
Yet, Ebitda/adjusted profit after tax was ahead of estimates led by higher than expected costs savings.
The company’s net debt has increased sharply by Rs 10.3 billion (Rs 6.14 billion in Q2) to Rs 29.4 billion.
We remain positive on the company led by its strong brand recall and footprint across segments, asset-light approach, monetization of non-core assets, focus on driving alternate revenue streams, repositioning Ginger in lean luxury segment and efficient costs management.
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