The Indian Hotels Company (INDHOTEL) Q4 25/26 earnings summary

Executive summary

• Achieved record financial performance for the sixteenth consecutive quarter and FY26, with double-digit revenue and profit growth despite macroeconomic and geopolitical headwinds.

• Expanded portfolio to over 1,000 units, including 630+ hotels, 375+ amã Villas, and a robust pipeline, reinforcing leadership in luxury and midscale segments.

• Strengthened foundation for future growth through brand expansion, digital transformation, and investments in operational capabilities.

• Maintained a capital-light strategy, driving disciplined expansion and superior returns.

• Strengthened balance sheet with over ₹4,300 Cr in cash and upgraded to AAA (Stable) by ICRA.

Financial highlights

• FY26 consolidated revenue rose 16% year-on-year to ₹9,971 Cr; EBITDA up 16% to ₹3,477 Cr; PAT (before exceptional items) up 15% to ₹1,849 Cr.

• Q4 consolidated revenue grew 14% year-on-year to ₹2,845 Cr; EBITDA up 15% to ₹1,052 Cr; PAT (before exceptional items) up 14% to ₹600 Cr.

• Standalone FY26 revenue grew 10% to ₹5,640 Cr; EBITDA margin expanded to 45.1%; PAT up 14% to ₹1,632 Cr.

• Dividend proposed at ₹3.25 per share, up 44% year-on-year, including a one-time special dividend.

• Free cash flow at ₹1,450 Cr, representing 75% of PAT (BEI).

Outlook and guidance

• Confident of delivering double-digit revenue growth (12%-14%) in FY27, with sustained margins and strong cash generation.

• Plans to open 60+ hotels and 5,000 keys across brands and geographies in FY27.

• Capex guidance for FY27 set at ₹1,100–1,300 Cr, focused on renovations and new builds.

• Recent acquisitions expected to contribute over ₹250 Cr in incremental revenue.

• Industry fundamentals remain favorable, with resilient domestic demand and limited incremental supply.