External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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

<div><div><div><div><ul><li>About the stock: With room inventory of 20,581 rooms, Indian Hotels is a diversified player in the hotel industry through brands such as Taj, Vivanta, SeleQtions and Ginger brands.</li></ul><div><div><div><ul><li>Q4FY22 Results: IHCL’s operational performance for Q4FY22 remained below estimates, impacted by the omicron wave.</li><li>What should investors do? Along with the improved outlook, the company is also focusing on driving more efficiencies through cost optimisation.</li></ul><ol style="list-style-type: none;" start="0"><li> </li></ol></div></div></div></div></div></div></div><p><em>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.</em></p>

About the stock: With room inventory of 20,581 rooms, Indian Hotels is a diversified player in the hotel industry through brands such as Taj, Vivanta, SeleQtions and Ginger brands.Q4FY22 Results: IHCL’s operational performance for Q4FY22 remained below estimates, impacted by the omicron wave.What should investors do? Along with the improved outlook, the company is also focusing on driving more efficiencies through cost optimisation. 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  - Business Travel Rebounds; FTAs to Provide Further Boost...

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>We were surprised by the weak 4QFY22 results of Indian Hotels Company Ltd (IHCL) as it implied that the impact of Omicron was higher than what we had expected.</li></ul><div><div><div><ul><li>However, as indicated by the management on the conference call and in our own interactions with experts, there has been a strong demand revival from Corporates and MICE segments since April’22.</li></ul><div><div><div><div><ul><li>IHCL’s 4QFY22 revenue declined by 21.5% QoQ but increased by 41.8% YoY to Rs8,721mn.</li></ul></div></div></div></div></div></div></div></div></div></div></div><p><em>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.</em></p>

We were surprised by the weak 4QFY22 results of Indian Hotels Company Ltd (IHCL) as it implied that the impact of Omicron was higher than what we had expected.However, as indicated by the management on the conference call and in our own interactions with experts, there has been a strong demand revival from Corporates and MICE segments since April’22.IHCL’s 4QFY22 revenue declined by 21.5% QoQ but increased by 41.8% YoY to Rs8,721mn.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 - RevPar Impacted Amid Omicron Wave

<p>Q2FY22 Results: Indian Hotels witnessed a sharp rebound in Q2FY22; revenue reached 72% of pre-Covid levels. Indian Hotels' revenues for Q2FY22 were up 184% YoY, 111% QoQ to Rs 728.4 crore. EBITDA came in at Rs 72.8 crore and net loss reduced to Rs 120.6...</p><div class="content-highlight"><em>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.</em></div>

Q2FY22 Results: Indian Hotels witnessed a sharp rebound in Q2FY22; revenue reached 72% of pre-Covid levels. Indian Hotels' revenues for Q2FY22 were up 184% YoY, 111% QoQ to Rs 728.4 crore. EBITDA came in at Rs 72.8 crore and net loss reduced to Rs 120.6...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: Leisure Rebounds; Business Travel to Follow Soon

<p>Q1FY22 Results: Results remained weak, mainly impacted by second Covid wave. Revenues were down 44% QoQ to Rs 344.6 crore. Occupancy at standalone level was at 28.5%. However, average room rate saw a sharp jump of 45%...</p><div class="content-highlight"><em>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.</em></div>

Q1FY22 Results: Results remained weak, mainly impacted by second Covid wave. Revenues were down 44% QoQ to Rs 344.6 crore. Occupancy at standalone level was at 28.5%. However, average room rate saw a sharp jump of 45%...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.

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>Despite the second COVID wave, standalone RevPAR nearly doubled as compared to last year due to ARR growth and occupancy improvement, as the impact this time around was less severe and the recovery was faster as compared to the first wave. Additionally, IHIN's operating performance was strong on the back cost saving measures and operating leverage. Revenue/EBITDA in 1QFY22 was above our estimate. Factoring the same, we...</p><div class="content-highlight"><em>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.</em></div>

Despite the second COVID wave, standalone RevPAR nearly doubled as compared to last year due to ARR growth and occupancy improvement, as the impact this time around was less severe and the recovery was faster as compared to the first wave. Additionally, IHIN's operating performance was strong on the back cost saving measures and operating leverage. Revenue/EBITDA in 1QFY22 was above our estimate. Factoring the same, we...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.

Cost savings and operating leverage lower operating loss

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 - Business Travel Rebounds; FTAs to Provide Further Boost...

With room inventory of 20,581 rooms, Indian Hotels is a diversified player in the hotel industry through brands such as Taj, Vivanta, SeleQtions...

ICICI Securities Limited

Indian Hotels Company - RevPar Impacted Amid Omicron Wave

We were surprised by the weak 4QFY22 results of Indian Hotels Company Ltd (IHCL) as it implied that the impact of Omicron was higher than what we...

Nirmal Bang

Indian Hotels: Leisure Rebounds; Business Travel to Follow Soon

Q2FY22 Results: Indian Hotels witnessed a sharp rebound in Q2FY22; revenue reached 72% of pre-Covid levels. Indian Hotels' revenues for Q2FY22 were...

ICICI Securities Limited

Indian Hotels: Impacted by Second Wave

Q1FY22 Results remained weak, mainly impacted by second Covid wave. Revenues were down 44% QoQ to Rs 344.6 crore. Occupancy at standalone level was...

ICICI Securities Limited

Cost savings and operating leverage lower operating loss

Despite the second COVID wave, standalone RevPAR nearly doubled as compared to last year due to ARR growth and occupancy improvement, as the impact...

Motilal Oswal

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