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Buy Indian Hotels Company; target of Rs 155: Sharekhan

Sharekhan is bullish on Indian Hotels Company has recommended buy rating on the stock with a target price of Rs 155 in its research report dated February 03, 2021.

February 09, 2021 / 10:48 PM IST
 
 
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Sharekhan's research report on Indian Hotels Company


Indian hotel Company Limited’s (IHCL’s) Q3FY2021 performance improved q-o-q as revenues rose to Rs. 559.9 crore from Rs. 256.7 crore in Q2FY2021. Standalone occupancy ratio improved to 47.4% in Q3FY2021 from 32.3% in Q2FY2021 and 20.5% in Q1FY2021; average room rentals (ARR) rose by 53% to Rs. 8,300 versus Q2. Prudent asset management helped fixed costs decline by Rs. 64 crore and corporate overheads to decrease by 28% to Rs. 67crore in 9MFY2021.


Outlook


Hotel industry set for a strong revival in FY2022/23 as foreign tourist arrivals regain momentum. As IHCL has a strong room inventory and stable balance sheet among peers, we recommend a Buy with a PT of Rs. 155.


For all recommendations report, click here


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first published: Feb 9, 2021 10:48 pm

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