Indian Hotels Q2 Review - Leisure Rebounds; Business Travel To Follow Soon: ICICI Direct

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..ICICI Direct Report.Indian Hotels Company Ltd. witnessed a sharp rebound in Q2 FY22; revenue reached 72% of pre-Covid levels.Indian Hotels’ revenues for Q2 FY22 were up 184% YoY, 111% QoQ to Rs 728.4 crore. Ebitda came in at Rs 72.8 crore and net loss reduced to Rs 120.6 crore versus loss of Rs 230 crore last year and loss of Rs 277 crore last quarter.Domestic segment recovered to 86% of pre-Covid revenues while international portfolio reached 62% of pre-Covid levels.With the object of becoming debt free, the board has approved a fund raising of Rs 4,000 crore.Key triggers for future price performanceThe ongoing crisis would restrict overall room supply in the industry in next three to four years, auguring well for branded players like Indian Hotels.Expect business to recover to 97% of pre-Covid levels with Ebitda surpassing pre-Covid levels by FY23E; margins are seen at over 24% in FY23E, which has the potential to further expand to 30%+.Improved cash flows, equity infusion and divestment of non-core assets are expected to help the company become debt free..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indian Hotels Q2 Review - Leisure Rebounds; Business Travel To Follow Soon: ICICI Direct

Indian Hotels Q2 Review - Leisure Rebounds; Business Travel To Follow Soon: ICICI Direct

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