Indian Hotels Company Ltd. Results Analysis-Q2FY2027

Financial performance and key operating metrics (Consolidated) : Operating Revenue for Q2FY27 is Rs. 2,484 Crs., 21.73% growth YoY, Total Income is Rs. 2,566 Crs., 20.8% growth YoY, EBITDA is Rs. 788 Crs., 20.53% growth YoY, However, EBITDA Margin is 30.69% declined by 7 Basis points YoY, PBT Rs. 545 Crs., 20.33% growth YoY, PAT Rs. 380 Crs. 19.35% growth YoY. On QoQ basis Op. Revenue is up by 6.2%, Total Income is up by 6.07%, EBITDA is up by 4.62%, PBT is up by 2.14% But PAT is down by 2.8% (due to increase in tax expenses). Hotel Segment Operating Revenue for Q2FY27 is Rs. 2,204 Crs., 25% growth YoY, Total Income is Rs. 2,284 Crs., 24% growth YoY, EBITDA is Rs. 735 Crs., 26% growth YoY, Company reported its “18th consecutive quarter” of record performance and raised FY27 consolidated revenue growth guidance from 12–14% to 15–17%. Within this, hotel segment revenue is guided to 17–19%. Growth is positioned as broad-based and structurally supported. Key swing factors for H2: (1) continued pricing + occupancy momentum, (2) international portfolio recovery (London/US/Frankfurt), (3) continued MICE + social events intensity, (4) airline/geopolitical headwinds impacting the air-catering associate (TajSATS).