Indian Hotels Co. Ltd.
INDHOTELConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
15 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 15 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20230206 | 2021-12-31 | yes | |
| TRANSCRIPT | 20230504 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230801 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231031 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240207 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240430 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240723 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241113 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250123 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250512 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250723 | 2025-06-30 | yes | |
| COVER_LETTER | 20251110 | 2025-09-30 | no | |
| TRANSCRIPT | 20260219 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260514 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260727 | 2026-06-30 | yes |
INDHOTEL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 728.80 |
| 52-week range | 570.95 – 752.3 |
| Return 1M | -0.16% |
| Return 3M | 1.13% |
| Return 1Y | -2.31% |
| Return 3Y | 78.37% |
| Return 5Y | 307.61% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,339.00 |
| Other income | 80.00 |
| Total income | 2,419.00 |
| Cost of materials consumed | 229.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 669.00 |
| Finance costs | 57.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.38 | 0.00 |
| institutions foreign | 0.22 | -0.02 |
| institutions domestic | 0.25 | 0.02 |
| mutual funds | 0.14 | 0.01 |
| public | 0.62 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2025-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 14 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,233.00 | 1,686.00 | 1,625.00 | 1,466.00 | 1,433.00 | 1,964.00 | 1,905.00 | 1,550.00 | 1,826.00 | 2,533.00 | 2,425.00 | 2,041.00 | 2,041.00 | 2,842.00 | 2,765.00 | 2,339.00 |
| Other income | 25.00 | 58.00 | 29.00 | 49.00 | 48.00 | 40.00 | 46.00 | 46.00 | 64.00 | 59.00 | 62.00 | 61.00 | 83.00 | 58.00 | 79.00 | 80.00 |
| Total income | 1,258.00 | 1,744.00 | 1,655.00 | 1,516.00 | 1,481.00 | 2,004.00 | 1,951.00 | 1,596.00 | 1,890.00 | 2,592.00 | 2,487.00 | 2,102.00 | 2,124.00 | 2,900.00 | 2,845.00 | 2,419.00 |
| Cost of materials consumed | 103.00 | 140.00 | 126.00 | 115.00 | 112.00 | 153.00 | 140.00 | 114.00 | 174.00 | 250.00 | 235.00 | 208.00 | 208.00 | 277.00 | 258.00 | 229.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 376.00 | 424.00 | 422.00 | 429.00 | 441.00 | 469.00 | 467.00 | 460.00 | 523.00 | 579.00 | 588.00 | 598.00 | 591.00 | 642.00 | 656.00 | 669.00 |
| Finance costs | 60.00 | 57.00 | 57.00 | 57.00 | 59.00 | 53.00 | 52.00 | 50.00 | 52.00 | 52.00 | 54.00 | 55.00 | 56.00 | 56.00 | 55.00 | 57.00 |
| Depreciation and amortisation | 103.00 | 103.00 | 108.00 | 109.00 | 111.00 | 114.00 | 120.00 | 117.00 | 125.00 | 134.00 | 142.00 | 143.00 | 145.00 | 150.00 | 167.00 | 163.00 |
| Other expenses | 459.00 | 524.00 | 543.00 | 512.00 | 526.00 | 610.00 | 638.00 | 526.00 | 628.00 | 741.00 | 745.00 | 659.00 | 671.00 | 848.00 | 879.00 | 768.00 |
| Total expenses | 1,101.00 | 1,249.00 | 1,255.00 | 1,222.00 | 1,249.00 | 1,399.00 | 1,417.00 | 1,268.00 | 1,502.00 | 1,758.00 | 1,764.00 | 1,662.00 | 1,672.00 | 1,972.00 | 2,015.00 | 1,886.00 |
| Profit before exceptional items and tax | 156.00 | 495.00 | 400.00 | 294.00 | 232.00 | 605.00 | 535.00 | 328.00 | 388.00 | 834.00 | 723.00 | 440.00 | 453.00 | 928.00 | 830.00 | 533.00 |
| Exceptional items | 12.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 307.00 | 0.00 | -3.00 | 0.00 | 0.00 | 276.00 | 0.00 | 0.00 |
| Profit before tax | 169.00 | 495.00 | 400.00 | 294.00 | 232.00 | 605.00 | 535.00 | 328.00 | 696.00 | 834.00 | 720.00 | 440.00 | 453.00 | 1,203.00 | 830.00 | 533.00 |
| Current tax | 30.00 | 72.00 | 108.00 | 79.00 | 62.00 | 149.00 | 154.00 | 91.00 | 111.00 | 211.00 | 202.00 | 96.00 | 124.00 | 291.00 | 214.00 | 146.00 |
| Deferred tax | 14.00 | 44.00 | -10.00 | 5.00 | 10.00 | 18.00 | -12.00 | 3.00 | 11.00 | 9.00 | -22.00 | 25.00 | 13.00 | -22.00 | -10.00 | -4.00 |
| Tax expense | 44.00 | 116.00 | 98.00 | 83.00 | 72.00 | 167.00 | 142.00 | 94.00 | 122.00 | 220.00 | 180.00 | 120.00 | 137.00 | 269.00 | 205.00 | 142.00 |
| Profit for the period | 130.00 | 404.00 | 339.00 | 236.00 | 179.00 | 477.00 | 438.00 | 260.00 | 583.00 | 633.00 | 563.00 | 329.00 | 318.00 | 954.00 | 645.00 | 391.00 |
| Profit attributable to owners | 122.00 | 383.00 | 328.00 | 222.00 | 167.00 | 452.00 | 418.00 | 248.00 | 555.00 | 582.00 | 522.00 | 296.00 | 285.00 | 903.00 | 600.00 | 358.00 |
| Profit attributable to non-controlling interests | 8.00 | 21.00 | 11.00 | 14.00 | 12.00 | 25.00 | 21.00 | 12.00 | 28.00 | 50.00 | 40.00 | 33.00 | 33.00 | 51.00 | 46.00 | 33.00 |
| Other comprehensive income | 23.00 | 147.00 | -44.00 | 40.00 | 25.00 | 141.00 | 112.00 | 141.00 | 17.00 | -106.00 | -10.00 | 117.00 | 64.00 | 115.00 | -95.00 | 238.00 |
| Total comprehensive income | 152.00 | 550.00 | 295.00 | 276.00 | 204.00 | 618.00 | 550.00 | 402.00 | 599.00 | 526.00 | 553.00 | 447.00 | 382.00 | 1,070.00 | 551.00 | 629.00 |
| Earnings per share, basic | 0.86 | 2.69 | 2.31 | 1.57 | 1.18 | 3.18 | 2.93 | 1.75 | 3.89 | 4.09 | 3.67 | 2.08 | 2.00 | 6.35 | 4.21 | 2.51 |
| Earnings per share, diluted | 0.86 | 2.69 | 2.31 | 1.57 | 1.18 | 3.18 | 2.93 | 1.75 | 3.89 | 4.09 | 3.67 | 2.08 | 2.00 | 6.35 | 4.21 | 2.51 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 4,512.00 | 4,463.00 | 1,575.00 | 3,056.00 | 5,810.00 | 6,769.00 | 8,335.00 | 9,689.00 |
| Other income | 83.00 | 132.00 | 165.00 | 155.00 | 139.00 | 183.00 | 230.00 | 282.00 |
| Total income | 4,595.00 | 4,596.00 | 1,740.00 | 3,211.00 | 5,949.00 | 6,952.00 | 8,565.00 | 9,971.00 |
| Cost of materials consumed | 404.00 | 371.00 | 144.00 | 257.00 | 473.00 | 521.00 | 774.00 | 951.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 1,471.00 | 1,495.00 | 894.00 | 1,150.00 | 1,582.00 | 1,805.00 | 2,151.00 | 2,487.00 |
| Finance costs | 190.00 | 341.00 | 403.00 | 428.00 | 236.00 | 220.00 | 208.00 | 221.00 |
| Depreciation and amortisation | 328.00 | 404.00 | 410.00 | 406.00 | 416.00 | 454.00 | 518.00 | 605.00 |
| Other expenses | 1,807.00 | 1,630.00 | 899.00 | 1,244.00 | 1,950.00 | 2,286.00 | 2,641.00 | 3,057.00 |
| Total expenses | 4,200.00 | 4,241.00 | 2,749.00 | 3,485.00 | 4,657.00 | 5,286.00 | 6,292.00 | 7,321.00 |
| Profit before exceptional items and tax | 395.00 | 355.00 | -1,009.00 | -274.00 | 1,291.00 | 1,666.00 | 2,273.00 | 2,650.00 |
| Exceptional items | 7.00 | 41.00 | 160.00 | 16.00 | 3.00 | 0.00 | 305.00 | 276.00 |
| Profit before tax | 402.00 | 396.00 | -850.00 | -258.00 | 1,295.00 | 1,666.00 | 2,578.00 | 2,926.00 |
| Current tax | 179.00 | 169.00 | 1.00 | 3.00 | 248.00 | 444.00 | 615.00 | 725.00 |
| Deferred tax | -21.00 | -124.00 | -156.00 | -38.00 | 75.00 | 20.00 | 2.00 | 6.00 |
| Tax expense | 157.00 | 45.00 | -155.00 | -36.00 | 323.00 | 464.00 | 617.00 | 731.00 |
| Profit for the period | 296.00 | 364.00 | -796.00 | -265.00 | 1,053.00 | 1,330.00 | 2,038.00 | 2,247.00 |
| Profit attributable to owners | 287.00 | 354.00 | -720.00 | -248.00 | 1,003.00 | 1,259.00 | 1,908.00 | 2,084.00 |
| Profit attributable to non-controlling interests | 9.00 | 9.00 | -76.00 | -17.00 | 50.00 | 71.00 | 130.00 | 163.00 |
| Other comprehensive income | -57.00 | -8.00 | 267.00 | 110.00 | 32.00 | 318.00 | 42.00 | 201.00 |
| Total comprehensive income | 239.00 | 356.00 | -528.00 | -155.00 | 1,084.00 | 1,648.00 | 2,081.00 | 2,449.00 |
| Earnings per share, basic | 2.41 | 2.98 | -6.05 | -1.97 | 7.06 | 8.86 | 13.40 | 14.64 |
| Earnings per share, diluted | 2.41 | 2.98 | -6.05 | -1.97 | 7.06 | 8.86 | 13.40 | 14.64 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 12,264.00 | 13,669.00 | 13,561.00 | 14,856.00 | 16,491.00 | 17,704.00 | 18,419.00 | 20,297.00 |
| Non-current assets | 10,408.00 | 11,078.00 | 11,301.00 | 11,787.00 | 12,975.00 | 13,534.00 | 14,136.00 | 14,720.00 |
| Current assets | 1,855.00 | 2,590.00 | 2,260.00 | 3,068.00 | 3,516.00 | 4,170.00 | 4,283.00 | 5,577.00 |
| Property, plant and equipment | 7,141.00 | 7,615.00 | 7,739.00 | 8,110.00 | 9,129.00 | 9,632.00 | 9,800.00 | 10,381.00 |
| Capital work-in-progress | 238.00 | 324.00 | 402.00 | 231.00 | 362.00 | 576.00 | 862.00 | 764.00 |
| Goodwill | 642.00 | 654.00 | 657.00 | 662.00 | 675.00 | 711.00 | 734.00 | 1,122.00 |
| Other intangible assets | 546.00 | 550.00 | 544.00 | 539.00 | 567.00 | 575.00 | 616.00 | 708.00 |
| Inventories | 108.00 | 109.00 | 119.00 | 116.00 | 131.00 | 135.00 | 136.00 | 150.00 |
| Trade receivables | 364.00 | 446.00 | 484.00 | 476.00 | 607.00 | 651.00 | 833.00 | 727.00 |
| Cash and cash equivalents | 608.00 | 736.00 | 423.00 | 479.00 | 353.00 | 257.00 | 235.00 | 406.00 |
| Total equity and liabilities | 12,264.00 | 13,669.00 | 13,561.00 | 14,856.00 | 16,491.00 | 17,704.00 | 18,419.00 | 20,297.00 |
| Equity | 7,803.00 | 8,642.00 | 8,976.00 | 10,129.00 | 11,322.00 | 12,416.00 | 12,897.00 | 14,939.00 |
| Equity share capital | 142.00 | 142.00 | 142.00 | 142.00 | 142.00 | 142.00 | 142.00 | 142.00 |
| Other equity | 7,046.00 | 7,840.00 | 8,142.00 | 9,314.00 | 10,014.00 | 11,018.00 | 11,427.00 | 12,910.00 |
| Total liabilities | 4,460.00 | 5,027.00 | 4,585.00 | 4,727.00 | 5,169.00 | 5,288.00 | 5,521.00 | 5,358.00 |
| Non-current liabilities | 2,491.00 | 2,908.00 | 2,711.00 | 2,729.00 | 3,142.00 | 3,292.00 | 3,391.00 | 3,122.00 |
| Current liabilities | 1,969.00 | 2,119.00 | 1,874.00 | 1,998.00 | 2,027.00 | 1,996.00 | 2,131.00 | 2,235.00 |
| Borrowings, non-current | 305.00 | 331.00 | 49.00 | 47.00 | 224.00 | 203.00 | 196.00 | 47.00 |
| Borrowings, current | 463.00 | 487.00 | 242.00 | 214.00 | 58.00 | 22.00 | 82.00 | 5.00 |
| Trade payables | 461.00 | 477.00 | 455.00 | 519.00 | 580.00 | 578.00 | 666.00 | 720.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 655.00 | 1,619.00 | 654.00 | 1,935.00 | 739.00 | 2,194.00 | 548.00 | 2,471.00 |
| Net cash from investing activities | 582.00 | -145.00 | -140.00 | -1,210.00 | -506.00 | -1,892.00 | -137.00 | -1,727.00 |
| Net cash from financing activities | -1,416.00 | -1,528.00 | -827.00 | -985.00 | -372.00 | -547.00 | -441.00 | -976.00 |
| Purchase of property, plant and equipment | 192.00 | 471.00 | 304.00 | 637.00 | 344.00 | 1,074.00 | 477.00 | 1,037.00 |
| Net increase in cash | -176.00 | -47.00 | -313.00 | -257.00 | -135.00 | -241.00 | -22.00 | -218.00 |
| con:CFO.BEFORE_TAX | 744.00 | 1,869.00 | 712.00 | 2,244.00 | 1,000.00 | 2,775.00 | 853.00 | 3,138.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 89.00 | 250.00 | 59.00 | 309.00 | 261.00 | 581.00 | 305.00 | 667.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 34.00 | 34.00 | 2.00 | 14.00 | 0.00 | 0.00 | 25.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 590.00 |
| con:PPE_DISPOSALS | 30.00 | 68.00 | 1.00 | 4.00 | 3.00 | 12.00 | 3.00 | 9.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 18.00 | 0.00 | 412.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 38.19 | 38.19 | 38.19 | 38.12 | 38.12 | 38.12 | 38.12 | 38.12 | 38.12 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 |
| Domestic institutions | 27.60 | 24.19 | 23.26 | 22.33 | 20.78 | 18.43 | 18.80 | 18.56 | 19.18 | 0.19 | 0.20 | 0.21 | 0.23 | 0.25 |
| Mutual funds | — | — | — | — | — | — | — | — | 14.04 | 0.13 | 0.13 | 0.12 | 0.13 | 0.14 |
| Insurance companies | 4.81 | 4.46 | 4.50 | 4.58 | 4.53 | 4.16 | 3.90 | 3.60 | 3.09 | 0.03 | 0.03 | 0.04 | 0.05 | 0.06 |
| Foreign institutions | 18.24 | 21.64 | 22.17 | 23.28 | 24.47 | 27.19 | 27.43 | 27.78 | 26.96 | 0.27 | 0.26 | 0.25 | 0.23 | 0.22 |
| Government | — | — | — | — | — | — | — | — | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 61.81 | 61.81 | 61.81 | 61.88 | 61.88 | 61.88 | 61.88 | 61.88 | 61.88 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 |
| Non-institutional | 15.97 | 15.98 | 16.37 | 16.27 | 16.62 | 16.26 | 15.64 | 15.53 | 15.73 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| Shares outstanding | 1420400342 | 1420400342 | 1420400342 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 | 1423432227 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Air India Limited | Entities with joint control or sig | Any other transaction, Sale of goods or services | 614,700,000.00 | 12 |
| Tata SIA Airlines Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 555,600,000.00 | 10 |
| Tata Digital Private Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 509,400,000.00 | 18 |
| Piem Hotels Limited | Subsidiaries | Any other transaction, Purchase of goods or services | 477,200,000.00 | 9 |
| Tata Projects Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 423,900,000.00 | 15 |
| Supermarket Grocery Supplies Private Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 407,900,000.00 | 22 |
| Oriental Hotels Limited | Associates | Any other transaction, Dividend received, Purchase o | 365,200,000.00 | 37 |
| Tata Consultancy Services Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 320,300,000.00 | 29 |
| Tata Sons Private Limited | Entities with joint control or sig | Any other transaction, Dividend received, Purchase o | 234,000,000.00 | 33 |
| Taj GVK Hotels And Resorts Limited | Joint ventures where entity is ven | Any other transaction, Dividend received, Purchase o | 225,700,000.00 | 23 |
| Tata AIG General Insurance Company Limited | Entities with joint control or sig | Any other transaction, Purchase of goods or services | 217,100,000.00 | 14 |
| The Tata Power Company Limited | Entities with > 20% holding by | Any other transaction, Interest received, Purchase o | 217,100,000.00 | 26 |
| Taj Enterprises Limited | Subsidiaries | Any other transaction, Dividend received, Sale of go | 200,800,000.00 | 11 |
| St James Court Hotel Limited | Subsidiaries | Any other transaction, Purchase of goods or services | 190,800,000.00 | 9 |
| Taj Sats Air Catering Limited | Joint ventures where entity is ven | Any other transaction, Dividend received, Purchase o | 190,300,000.00 | 22 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-27 | Q1FY27 | COMPANY LIMITED | Read the call |
| 2026-05-14 | Q4FY26 | COMPANY LIMITED | Read the call |
| 2026-02-19 | Q3FY26 | CEO, IHCL | Read the call |
| 2025-07-23 | Q1FY26 | Read the call | |
| 2025-05-12 | Q4FY25 | COMPANY LIMITED | Read the call |
| 2025-01-23 | Q3FY25 | HOTELS COMPANY LIMITED | Read the call |
| 2024-11-13 | Q2FY25 | HOTELS COMPANY LIMITED | Read the call |
| 2024-07-23 | Q1FY25 | HOTELS COMPANY LIMITED | Read the call |
| 2024-04-30 | Q4FY24 | (DESIGNATE) -- IHCL | Read the call |
| 2024-02-07 | Q3FY24 | HOTELS COMPANY LIMITED. | Read the call |
| 2023-10-31 | Q2FY24 | HOTELS COMPANY LIMITED | Read the call |
| 2023-08-01 | Q1FY24 | INDIAN HOTELS COMPANY LIMITED | Read the call |
| 2023-05-04 | Q4FY23 | Read the call | |
| 2023-02-06 | Q3FY22 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q3FY22 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | Do you still expect free cash generation of around 15%, 20% pre-Capex of your revenue? | In the past six years we’ve invested close to Rs.2500 crore in capital expenditure on a cumulative basis. | — | Any sense of its positioning in terms of what are the key 25:01 ___it has and in terms of your expansion plan, what kind of a CAPEX are you thinking y… | See, our CAPEX is always around, there is an operational CAPEX and there is the CAPEX in the new construction and building other businesses. | If you could please share a bit of a plan in terms of your capex, which you mentioned that INR35 billion and you always spend INR10 billion to INR11 b… | IHCL in FY '24-'25 spent over INR 1,000 crores towards CAPEX, out of which half was used for renovations, routine maintenance and very importantly, di… | Over the last 3 years, we have invested over INR2,500 crores in capital expenditure to strengthen our iconic assets and enhance strategic capabilities… |
| Capital allocation | Second, on the overall distressed asset acquisition opportunity, being the largest and perhaps the oldest hotel chain in the country, if you could tal… | — | As of this month, we have also completed the acquisition of Tree of Life, which will get added to the new businesses portfolio. | We have completed the acquisition of a 51% stake in ANK and Pride. | And fourth, is really the dividend thing. | Our new dividend policy has been approved by the Board, and we have proposed to declare a dividend at a payout ratio of 20% of consolidated PAT for th… | Reflective of the company's sustained financial performance, a dividend of ~20% of consolidated PAT amounting to INR 2.25 per share is proposed, subje… | Reflective of this sustained performance, the Board has proposed a dividend equivalent to 25% of consolidated PAT amounting to INR3.25 per equity shar… |
| Costs | Anything on the inflation, any cost items in there because their inflationary pressure is like coming up. | Ideally this business has very high leverage, is there any major cost items where you see inflationary pressures are coming up and lastly, if you coul… | — | — | If you look at this slide, see the raw material cost is totally variable. | So if they have to really look at ROI or so is it for creating more business or also including cost savings. | — | — |
| Debt and cash | We are very well positioned without having any debt, having free cash flows to take advantage of any opportunity that might come. | Our free cash flows continue to be healthy, and gross cash reserves at over Rs.1800 crores enables us to invest in ROCE accretive opportunities and wi… | — | But I think the good thing is that our operating cash flows are far ahead of these numbers. | Just one question, we get it that the business will generate another year of very strong free cash flow. | Our third objective of achieving zero net debt level had been achieved long back and in fact, we have now surplus cash reserve of over INR2,200 crores… | But as things stand today, given the change in our position from being net debt free and generating so much cash, it makes absolute sense today to do … | — |
| Demand | And a lot of events which are happening this year, including G20, including World Cup Cricket, should further boost the demand or provide the necessar… | This takes our pipeline to 85 hotels in all. | IHCL delivered 13% consolidated RevPAR growth on a domestic like-for-like basis on the back of demand continuing to outpace supply and our asset manag… | A strong forward pipeline including balance sheet assets and greenfield projects. | It’s not just pent-up demand and an imbalance in demand and supply. | We promised a portfolio of 300 hotels and as of 31st March, we have achieved a portfolio of 310 hotels, including 90 in pipeline. | Driven by strong domestic demand, limited supply addition and favorable demographics, the hospitality sector continues to be in an up cycle. | Our capital- light strategy continues to be a defining competitive advantage with 68% of our operating portfolio and 93% of our pipeline under managed… |
| Guidance | Moving forward, I think on our hotels in pipeline, which I think is also an industry-leading pipeline, we have a smaller base though there, it is corr… | We expect our double-digit revenue growth to continue in the next financial year as well, driven by three key dimensions of growth namely: • Growth in… | We have guided previously that we expect Lean Luxe and New Ginger's to keep performing at north of 50%. | For 9 months 2025-26, we delivered consolidated revenue growth of 17% year-on-year with EBITDA margin of 34% in line with our guidance of double-digit… | So, we expect Ginger over the next three years to go north of 50% in margins as I said in my opening remarks. | Finally, maybe the most interesting for all of you, what can we expect going forward? | Excluding the same, the normalized PAT has grown by 27% to INR 1,603 crores. We promised and gave a guidance of double-digit revenue growth at the b… | In conclusion, in FY '27, we expect 60-plus hotel openings across brands and geographies. |
| Margin | We are very pleased to report our Q3 results with a record level on all key parameters, revenue, EBITDA, EBITDA margin, PAT, strong free cash flows an… | Our standalone revenue grew 22% year-on-year to Rs.1323 crores EBITDA grew 30% year-on- year to Rs.601 crore, yielding EBITDA margin expansion of 290 … | For the very first time in history, the quarterly EBITDA of IHCL crossed INR 1,000 crores. | This provides multi-year visibility on revenue and EBITDA expansion. | Could you talk a little bit about the roadmap to 50% EBITDA margin. | We aimed at achieving EBITDA margin of 33%, and we have delivered EBITDA margin of 33.7% in last financial year. | I repeat, despite consolidating TajSATS as a subsidiary, which has relatively lower margins than the hotel segment. Our consolidated revenue stood a… | The Indian Hotels Company Limited May 11, 2026 Even as we invested meaningfully for future growth, we delivered EBITDA margin of 35%, reflecting opera… |
| People | So, I think this is kind of a developing area in terms of utilization. | — | — | — | — | And when it comes to new facilities, we are not even at 5% to 10% of possible utilization. | — | — |
| Pricing | My first question is on occupancies, so occupancies versus pricing. | So, is it that the marquee properties that we own in our standalone is managing to experience much higher pricing power and what is the reasons accord… | Now of course, -- how do you see the pricing today? | This balanced brand architecture allows us to capture premium pricing while participating in structural growth across mid-scale in emerging formats ac… | So, on a standalone basis or overall in an operation basis, I mean, we ended the year on a very high base and multiple rounds of price hikes or ARR hi… | Just building on what Ankur said, see we have always said that from a business ARR perspective we have enough scope because really speaking, if you tr… | The pricing power is maximum in that segment. | Number four, renovated inventory across key assets is expected to create further upside through improved pricing power and guest experience. |
| Revenue growth | I think if I look at the triggers for margin, it's the diversification in top line that we have in terms of some Greenfields that we will build, seein… | Our consolidated revenue showcases the growth of 15% year-on-year to Rs.2004 crore and an EBITDA growth of 18% year-on-year to Rs.772 crores. | On a consolidated basis, IHCL delivered record performance in Q3 with 29% revenue growth and 80 basis points margin expansion over the same period las… | Like-for-like revenue growth momentum is expected to continue supported by favorable demand supply dynamics in key markets and sharper asset managemen… | We only do, we mostly do operating leases we have fully fitted leases, because Ginger in a hundred room property has a top line of say between Rs. | The capital-heavy portfolio drives operating leverage and has demonstrated strong growth on the top line, but more importantly, at the EBITDA level on… | On a consolidated basis, IHCL delivered record performance in FY '25 with 23% revenue growth and 140 basis points margin expansion over the previous… | Together, these three pillars have laid a strong and enduring foundation, one that now allows us to transition confidently into our next phase of sust… |