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Indian Hotels shares fall 3% post Q4 earnings, here are fresh price targets

Indian Hotels shares fall 3% post Q4 earnings, here are fresh price targets

Indian Hotels shares slipped 3.48% to Rs 587 in Thursday’s trade against Rs 608 level on March 24, 2023.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Apr 25, 2024 10:26 AM IST
Indian Hotels shares fall 3% post Q4 earnings, here are fresh price targets The Tata Group’s multibagger stock fell to a 52-week low of Rs 336.60 on April 28, 2023 and a 52 week high of Rs 622.25 on BSE.

Shares of Indian Hotels slipped over 3% in early deals after the Tata Group firm reported a 27.43 percent year-on-year rise in   net profit for the quarter ended March 2024.  Net profit climbed to Rs 418 crore in the fourth quarter against the net profit of Rs 328 crore in the March 2023 quarter. The company also declared a dividend of Rs 1.75 per share.  The Tata Group stock slipped 3.48% to Rs 587 in Thursday’s trade against Rs 608 level on March 24, 2023. 

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Motilal Oswal has assigned a buy call to the stock. It has fixed a price target of Rs 680 .

“Growth in the standalone business was driven by better occupancy (up 440bp YoY) and ARR (up 4% YoY; LFL 8% excluding Ginger Santacruz). Standalone management contract revenue rose 32% YoY to Rs 1.5b. We broadly maintain our FY25/FY26 EBITDA estimates and reiterate BUY with our SoTP-based target price of Rs 680,” said Motilal Oswal.

Nuvama has a neutral rating on the stock with a price target of Rs 578.

“Given sustained business traction, we build in 9% RevPar growth for FY25 (6% earlier), which drives up FY25E EBITDA by 7%. This along with a change in our CoE assumption yields a revised DCF-based TP of INR578 (earlier INR476); retain ‘HOLD’. At our target price, IHCL’s valuation works out to 26x FY26E EBITDA compared to its pre-covid average of 20x. Q1FY25 could be volatile due to potential impact from elections,” said Nuvama.

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Brokerage Prabhudas Lilladher said earnings came below consensus estimates. 

Revenue increased 17% YoY to Rs 19,053 mn against the consensus estimates of Rs 19,138 mn). EBITDA grew 23% YoY while it decreased 10% QoQ to Rs 6,598 mn against the consensus estimates of Rs 6,795 mn with a margin of 35% as compared to 33%/37% in 4QFY23/3QFY24 respectively.

PAT after minority interest rose 27% YoY to Rs 4,178 mn against the consensus estimates of Rs 4,261 mn with a margin of 22% as compared to 20%/23% in 4QFY23/3QFY24 respectively.

Consolidated revenue for the March quarter stood at Rs 1,951 crore, rising from Rs 1,625 crore in the same period last year.

EBITDA rose 23.2% to Rs 659.7 crore from Rs 535.5 crore in the year-ago period, while the EBITDA margin was at 34.6 percent compared to 33 percent.The hospitality sector scrip saw 0.98 lakh shares of the firm changing hands amounting to a turnover of Rs 5.84 crore on BSE. 

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Market cap of the firm fell to Rs 84,893 crore on BSE. The Tata Group’s multibagger stock fell to a 52-week low of Rs 336.60 on April 28, 2023 and a 52 week high of Rs 622.25 on BSE.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Apr 25, 2024 9:56 AM IST
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