INDIAN HOTELS (IN), a company active in the Hotels industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 8, 2022, the closing price was INR 210.85 and its potential was es...
INDIAN HOTELS: Cost savings and operating leverage lower operating loss (IH IN, Mkt Cap USD2.3b, CMP INR143, TP INR183, 28% Upside, Buy) Despite the second COVID wave, standalone RevPAR nearly doubled as compared to last year due to ARR growth and occupancy improvement, as the impact this time around was less severe and the recovery was faster as compared to the first wave. Additionally, IHIN’s operating performance was strong on the back cost saving measures and operating leverage. Reve...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Indian Hotel: Focusing on management contracts and new/reimagined brands bodes well for return ratios (IH IN, Mkt Cap USD2.4b, CMP INR152, TP INR180, 18% Upside, Buy) IH hosted its investors meet, where it articulated its strategy to capitalize on business recovery, focus on new brands and businesses, pursue asset light growth, sustain spend optimization, strengthen the Balance Sheet, and focus on RoCE. Key highlights from the meet are: To stay asset light through management contra...
A director at The Indian Hotels Company Limited maiden bought 100,000 shares at 107.938INR and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors ov...
INDIAN HOTELS: Strategy execution on track; Support from industry yet to follow (IH IN, Mkt Cap USD2.3b, CMP INR138, TP INR189, 37% Upside, Buy) Indian Hotels (IHIN) appears to be firing well on its ‘Aspiration 2022’ target on EBITDA margin (expansion of 800bp), revenue (improvement of 3-4%), cost (reduction by 3-5%), project addition (15 every year) and portfolio (equal proportion of owned and managed rooms). At its third Capital Markets meet, the company articulated execution toward this...
Indian Hotels: Good quarter in a challenging environment (IH IN, Mkt Cap USD2.4b, CMP INR142, TP INR190, 34% Upside, Buy) IHIN's 3QFY20 performance was driven by standalone operations, wherein revenue/like-to-like (L2L) EBITDA (adjusted for Ind-AS) grew 6%/13%, which in our view is healthy. The industry RevPAR growth is again back on track (+5.5%) after dipping in 1QFY20 (+1.9%) owing to elections. Revenue/EBITDA was in line during the quarter, however, the 32% PAT beat led to an increas...
Indian Hotels: Decent performance amidst weak environment (IH IN, Mkt Cap USD2.4b, CMP INR147, TP INR172, 17% Upside, Buy) In-line consolidated revenue and EBITDA: Consolidated revenue grew 4% YoY to INR10.1b (v/s est. INR10.1b). Adjusting for Ind-AS116 impact, EBITDA grew 16% YoY to INR1,153m. Like-to-like EBITDA margins expanded 120bp YoY to 11.4% due to operating leverage and cost rationalization measures. Reported PBT loss was at INR52m in 2QFY20 v/s loss of INR120m in 2QFY19. Adj. PA...
INDIAN HOTELS: Consol. performance largely in line; Notable contribution by subsidiaries (IH IN, Mkt Cap USD2.3b, CMP INR135, TP INR178, 32% Upside, Buy) revenue/EBITDA largely in-line…: Consol. revenue grew by 4% YoY to INR10.2b (our estimate: INR10.3m). Adjusting for Ind-AS 116 impact, like-to-like EBITDA was up 16% YoY at INR1,287m (our estimate: INR1,219m), with the margin expanding 130bp YoY to 12.6% (our estimate: 11.9%). Adj. PAT declined 82% YoY to INR34m (our estimate: INR154m) ...
ANNUAL REPORT THREADBARE (ART) | INDIAN HOTELS FY19: Superior operating performance driving return ratios Indian Hotels’ (IHCL) FY19 annual report highlights continued improvement in its return ratios. Over FY15-19, RoCE rose 460bp to 8.8% in FY19, led by a turnaround in operations. RoE improved to 5.9% (FY15: -11%), led by de-leveraging. Also, during past five years, robust OCF generation (INR28.5b) and rights issues (INR15b) helped IHCL to repay debt (INR25b) and fund capex (INR20b). Over ...
Indian Hotels: Steadily walking the talk on ‘Aspiration 2022’; GIC deal to support growth without diluting balance sheet strength (IH IN, Mkt Cap USD2.5b, CMP INR146, TP INR186, 27% Upside, Buy) As part of its ‘Aspiration 2022’ strategy, IHIN aims to reduce costs by 3-5pp via initiatives such as (a) entering into an arrangement that will save power cost to the tune of INR70m/year for Taj Lands End and Taj Mahal Hotel and (b) providing shared services to hotels located in vicinity. Commen...
Indian Hotels: ARR growth despite lower occupancy drives performance; RevPAR growth guidance of 6% maintained (IH IN, Mkt Cap USD2.6b, CMP INR154, TP INR186, 21% Upside, Buy) Consolidated revenue/EBITDA in line with estimates: Consolidated revenue increased 9% YoY to INR12.4b (our estimate: INR12.5b) in 4QFY19. EBITDA grew 16% YoY to INR2,843m (our estimate: INR2,857m), with the margin expanding 150bp YoY to 22.8% (our estimate: 22.8%). Adj. PAT increased 11% YoY to INR1,002m (our estimate: ...
INDIAN HOTEL: On track to turn ‘Aspiration 2022’ into reality; Industry dynamics favorable (IH IN, Mkt Cap USD2.3b, CMP INR137, TP INR189, 38% Upside, Buy) We attended Indian Hotels Company's (IH) Capital Markets Day. Key highlights: IH remains confident about achieving its 'Aspiration 2022' goal of being an iconic and profitable hospitality company. As part of this pivotal program, the company targets EBITDA margin expansion of 800bp to 25%, which will be supported by (a) industry tai...
Indian Hotels Co: International subs drive consol. performance; Corporate rate hike likely in 4Q (IH IN, Mkt Cap USD2.3b, CMP INR136, TP INR189, 39% Upside, Buy) Revenue/EBITDA in line: IHIN's consol. revenue grew 11% YoY to INR13.2b (our estimate: INR13.1b) in 3QFY19. EBITDA increased 20% YoY to INR3,355m (our estimate: INR3,402m), with the margin expanding 190bp YoY to 25.4% (our estimate: 26.0%). Adj. PAT rose 36% YoY to INR1,208m (our estimate: INR1,393m). For 9MFY19, consol. revenue...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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