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.'s Q2 FY22 was above estimates led by quicker than expected normalisation - especially in leisure segment. Festivity, re-opening of corporate and foreign travel, weddings and MICE are likely to keep the business momentum positive in the short-term, partly off-set by decline in revenge travel.
Costs too are expected to inch-up as demand rises. Net debt declined by Rs 0.4 billion QoQ to Rs 35.7 billion.
We upgrade our FY23/24E Ebitda by 26/2%; FY23 due to quicker recovery.
IHCL share price has appreciated by 31/55% in last 1/3 months. The resurgence of Covid-19 (initial signs in few countries) is key risk as it may push back the strong recovery witnessed.
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