EIH (EIHOTEL) Q2 24/25 earnings summary

Executive summary

• Achieved historic best-ever Q2 standalone and consolidated results, with strong revenue and profit growth year-over-year and optimism for continued sector growth and expansion plans including 20 new hotels and cruises by 2029.

• Maintained premium brand positioning, reflected in multiple international awards and accolades for properties and service, including Rajvilas ranked best hotel in the world.

• Unaudited standalone and consolidated financial results for the quarter and half year ended 30th September 2024 were approved by the Board on 12th November 2024.

Financial highlights

• Q2 standalone revenue at ₹520.8 crore, up 12% year-over-year; consolidated revenue at ₹589.0 crore, up 11%; Q2 EBITDA at ₹189.2 crore, up 27%; consolidated EBITDA at ₹208.2 crore, up 26%.

• Standalone PAT for Q2 at ₹114.4 crore, up 34%; consolidated profit at ₹132.7 crore, up 41%.

• Final dividend of ₹1.20 per share for FY24 was approved and paid in August 2024.

• Fund position at INR 592 crore, with reduction due to dividend, advance tax, and growth capex.

Outlook and guidance

• Management remains optimistic about sector growth, expecting strong demand and higher rates, especially in Q3 and Q4, with expansion pipeline including 20 properties (11 in India, 9 international) and a target of 50 hotels by 2030.

• Internal rate of return for new projects targeted at 15% or higher.

• Results for the first half are not indicative of full-year performance due to the seasonal nature of the Indian hotel industry.