Buy Indian Hotels Company: target of Rs 118: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research repor on Indian Hotels Company

Indian hotel Company Limited’s (IHCL’s) Q2FY2021 performance improved sequentially as revenues rose to Rs. 256.7 crore from Rs. 143.6 crore in Q1FY2021. Standalone occupancy ratio improved to 32.3% in Q2FY2021 from 20.5% in Q1FY2021; average room rentals (ARR) rose by 12% to Rs. 5,424 from Q1. Company’s RESET initiative is giving desired results - 1) Newer initiatives contributed Rs. 135 crore to revenues, operating cost fell 51% (fixed cost fell by Rs. 134 crore through effective asset management). Hotel industry set for strong revival in FY2022/23 as foreign tourist arrivals are expected to regain momentum.

Outlook

As IHCL has a strong room inventory and stable balance sheet among peers, we recommend Buy with PT of Rs. 118.

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