Ideas for Profit | Indian Hotels: Another solid quarter, buy on any weakness
May 03, 2019 / 12:07 PM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Indian Hotels Company (IHCL) closed FY19 on a strong note with a healthy performance in Q4. The company saw strong revenue growth and decent margin expansion that drove profit growth. Performance of the domestic business was encouraging. While the international business reported a decent show for FY19, performance in Q4 was a tad underwhelming.
- Topline grew 8.8 percent year-on-year (YoY) largely driven by an improvement in the operating performance of the domestic business
- On a standalone basis,...