External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Strong Operating Performance: IHCL delivered another strong quarter with consolidated revenue rising 15% YoY, while EBITDA grew 17% YoY to Rs 673 Cr, translating into an EBITDA margin of 28.8%.</li><li>The hotel business remained the key growth driver, with room revenue increasing 13% YoY and domestic RevPAR growing 14%, supported by a 600 bps YoY improvement in occupancy to 82% alongside healthy ARR growth.</li><li>Management highlighted that both leisure and business destinations witnessed broad-based demand, with Rajasthan and Goa outperforming, reinforcing confidence in the sustainability of domestic hospitality demand.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Operating Performance: IHCL delivered another strong quarter with consolidated revenue rising 15% YoY, while EBITDA grew 17% YoY to Rs 673 Cr, translating into an EBITDA margin of 28.8%.The hotel business remained the key growth driver, with room revenue increasing 13% YoY and domestic RevPAR growing 14%, supported by a 600 bps YoY improvement in occupancy to 82% alongside healthy ARR growth.Management highlighted that both leisure and business destinations witnessed broad-based demand, with Rajasthan and Goa outperforming, reinforcing confidence in the sustainability of domestic hospitality demand.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Strong Quarter; Confident FY27 Outlook

<ul><li>Resilient Business Model: Indian Hotels Company Limited continues to demonstrate strong execution with its 16th consecutive quarter of record performance despite geopolitical disruptions and weak international travel trends.</li><li>FY26 consolidated revenue grew 16% YoY to Rs 9,689 Cr, while EBITDA increased 15% to Rs 3,196 Cr with healthy margins of 33%.</li><li>The company’s diversified presence across luxury, upscale, mid-scale, and homestay formats has strengthened resilience across demand cycles. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Resilient Business Model: Indian Hotels Company Limited continues to demonstrate strong execution with its 16th consecutive quarter of record performance despite geopolitical disruptions and weak international travel trends.FY26 consolidated revenue grew 16% YoY to Rs 9,689 Cr, while EBITDA increased 15% to Rs 3,196 Cr with healthy margins of 33%.The company’s diversified presence across luxury, upscale, mid-scale, and homestay formats has strengthened resilience across demand cycles. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Decent Quarter; Building Blocks for Growth in Place

Thematic (Sector/Industry)

<ul><li>Demand Remains Resilient: In Q1FY27, our coverage universe reported pre-sales de-growth of ~40% YoY, amounting to ~Rs 10,300 Cr.</li><li>This was primarily due to the shift of major launches to H2, compared with the previous year’s quarter, which benefited from 2–3 high-value launches.</li><li>We observed sustenance sales traction in Oberoi, Prestige and Arvind, which performed in line with expectations. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand Remains Resilient: In Q1FY27, our coverage universe reported pre-sales de-growth of ~40% YoY, amounting to ~Rs 10,300 Cr.This was primarily due to the shift of major launches to H2, compared with the previous year’s quarter, which benefited from 2–3 high-value launches.We observed sustenance sales traction in Oberoi, Prestige and Arvind, which performed in line with expectations. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

High Conviction Ideas:Real Estate, Durable Goods & Hospitality

<ul><li>Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.</li><li>Standalone ARR on Like For Like H1FY26 (Average Room Rate) increased to Rs 14,400 (+5% YoY), with occupancy reaching 76% flat on YoY.</li><li>This resulted in standalone RevPAR growth of 5% YoY. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.Standalone ARR on Like For Like H1FY26 (Average Room Rate) increased to Rs 14,400 (+5% YoY), with occupancy reaching 76% flat on YoY.This resulted in standalone RevPAR growth of 5% YoY. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Strong H2 Expected; Maintain BUY

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Indian Hotels: IHCL’s Q4FY26 performance was broadly in line with estimates, reflected in a healthy 14% YoY revenue growth</li><li>10% YoY RevPAR growth at consolidated level was led by strong occupancy of ~78%</li><li>Though the performance was impacted by temporary geopolitical disruptions, lower inbound travel and weak occupancy trends in Dubai hotels, domestic demand remained resilient, supported by strong MICE activity and domestic tourism</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels: IHCL’s Q4FY26 performance was broadly in line with estimates, reflected in a healthy 14% YoY revenue growth10% YoY RevPAR growth at consolidated level was led by strong occupancy of ~78%Though the performance was impacted by temporary geopolitical disruptions, lower inbound travel and weak occupancy trends in Dubai hotels, domestic demand remained resilient, supported by strong MICE activity and domestic tourismContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Indian Hotels, MCX, Oberoi Realty, Sonata Software, Birla Corporation

India

Indian Hotels Company Limited operates The Taj Group of hotels.  The Company owns or maintains long term leases/licenses for hotels in India, in addition to International hotels.  The Group's hotels are divided into three groups: Luxury, Business, and, Leisure.

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Indian Hotels (IH IN)

Indian Hotels Company Ltd - Strong Quarter; Confident FY27 Outlook

IHCL delivered another strong quarter with consolidated revenue rising 15% YoY, while EBITDA grew 17% YoY to Rs 673 Cr, translating into an EBITDA...

Axis Direct

Indian Hotels Company Ltd - Decent Quarter; Building Blocks for Growth in Place

The company’s diversified presence across luxury, upscale, mid-scale, and homestay formats has strengthened resilience across demand cycles.

Axis Direct

High Conviction Ideas:Real Estate, Durable Goods & Hospitality

This was primarily due to the shift of major launches to H2, compared with the previous year’s quarter, which benefited from 2–3 high-value launches.

Axis Direct

Indian Hotels Company Ltd - Strong H2 Expected; Maintain BUY

Standalone Domestic Business shows Encouraging Growth: The standalone domestic business reported a muted growth of 2.4% YoY.

Axis Direct

HSIE Results Daily: Indian Hotels, MCX, Oberoi Realty, Sonata Software, Birla Corporation

Indian Hotels: IHCL’s Q4FY26 performance was broadly in line with estimates, reflected in a healthy 14% YoY revenue growth.

HDFC Securities

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