IHCL REPORTS A PROFITABLE Q4 ON THE BACK OF 52% REVENUE GROWTH
MUMBAI, APRIL 30, 2022: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated and standalone financials for the fourth quarter ending March 31st, 2022 and the full year FY 2021-22.
- Reported revenue of INR 955 crores in Q4 FY 2021-22,an increase of 52% overQ4 FY 2020-21
- Reported EBITDA of INR 242 crores in Q4 FY 2021-22– a192% increase fromQ4 FY 2020-21
- IHCL raised INR 4000 crores – INR 2000 crores by way of rights issue and an additional INR 2000 crores through QIP
- Roots Corporation Ltd. (RCL), which operates the Ginger brand, is now IHCL’s wholly owned subsidiary
- IHCL launched Paathya, a six-pillared framework, to drive the company’s sustainability and social impact measures
- Recorded the highest number of new hotel signings in Indiafor the second consecutive year, totaling 19new hotels
- Signs five new hotels in the last quarter including two SeleQtions hotels in Manaliand Udaipur, twoVivantahotels in Nashik and Thane, and aGinger hotel in Agra
- Opened fivenew hotelsin Q4 FY 2021-22 across brands includingTajExotica Resort & Spa, The Palm,Dubai; Raajkutir, Kolkata – IHCL SeleQtions;Vivanta Turbhe;Ginger Greater Noida and Ginger Kochi
- The amã Stays & Trails homestay portfolio grew to over 80bungalowsacross the country
- Qmin, IHCL’s culinary and food delivery platform, expanded to over 20 locations with 15 outlets and multiple food trucks across the country
- IHCL achieves milestone of 50 years of managing the iconic Rambagh Palace, Jaipur
- Received awards across multiple categories at the HICSA Hotels of the Year Awards 2022
KEY CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED MAR 31st,2022
KEY CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MAR 31st,2022
*As per the HVS Anarock Indian Hospitality Overview 2020, & 2021 report
For the year ending March 31st 2022, the Board of Directors have recommended an equity dividend of 40% amounting to Rs. 0.40 per share.
Commenting on the fiscal performance, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL,said, “IHCL reported a 192% increase in EBITDA in the fourth quarter as compared to the same quarter last year. Despite the third wave’s impact in January 2022, the companyposted its highest ever EBITDA margin of 25.3%.”
He further added, “Business outlook is positive with April and May trending ahead of 2019. Our industry leading pipeline along with scaling up of high margin new business like Ginger, amã Stays & Trails and Qminwill provide further impetus.”
Confident about the potential of the re-imagined brand Ginger, operated by Roots Corporation Limited (RCL), IHCL has completed the acquisition of the balance shares of RCL making it a wholly owned subsidiary.
Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL,stated,“This year has seen significant progress on the shape of the P&L and Balance Sheet. The successful raising of INR 4000 crores demonstrates continued investor confidence in IHCL. Overall, topline recovery, focus on asset light growth through management contracts and other revenue initiatives, together with the tight cost controls have enabled us to achieve industry leading margins.”
For details about IHCL’s key highlights and list of awards across FY 2021-22, refer to Annexure I and Annexure II, respectively.