SAMHI Hotels (SAMHI) investor relations material

Executive summary

• FY 2026 income grew 12.3% year-over-year, surpassing guidance, with EBITDA up 8.8% and profit before tax of INR 165 crores, up 89% year-over-year, before exceptional items.

• Major business developments included the launch of the GIC platform for upscale hotels, entry into experiential leisure via a 70% stake in RARE India, four new hotel developments, and a new Marriott-branded project.

• Strong deleveraging achieved through GIC investment, asset sales, and improved Net Debt to EBITDA (~3.0x), with credit rating upgraded to A+.

• Despite disruptions from geopolitical events, GST changes, and airline crises, the business demonstrated resilience and robust demand.

• Audited standalone and consolidated results for FY26 were approved with unmodified opinions from statutory auditors.

Financial highlights

• FY 2026 consolidated income reached INR 12,790 million (+12.3% YoY); same-store RevPAR grew 9.5% year-over-year.

• Consolidated EBITDA for FY 2026 was INR 4,626 million (+8.8% YoY), with margin at 36.2%.

• PAT surged to INR 5,665 million (+562.6% YoY), including deferred tax recognition and exceptional items.

• Free cash flow for FY 2026 was INR 3,000 million, with a run-rate of ~INR 3,150 million.

• Effective interest rate reduced to 7.9%; annualized interest cost run rate now INR 130–135 crores.

Outlook and guidance

• FY 2027 same-store revenue growth expected at 9%-10%, with total revenue growth guided at 10%-11% and margin guidance at 38%.

• Free cash flow expected to compound, with INR 3,000+ crores cumulative free cash projected over FY 2027–2031.

• CapEx allocation of INR 250–270 crores per year for FY 2027 and FY 2028, with committed capex of ~INR 22,000 million over five years.

• Board to consider mechanisms for direct capital returns to shareholders as free cash flow compounds.

• Deferred tax assets of INR 3,209.67 million recognized, reflecting confidence in future profitability.