FY23 revenue at Rs 5,949 crore, up 85% yoy; FY23 EBITDA margin at 32.7%, up 1523 bps yoy and FY23 pat at Rs 1,003 crore, offsets Covid19 losses
It appears that Indian Hotels Company Limited had a successful year, achieving record-setting revenue and profitability. The company attributed this success to sustained high demand over four consecutive quarters, as well as their RevPAR leadership across their various brands and key markets. Additionally, IHCL added 36 hotels to its portfolio at a rate of three hotels per month, and opened 16 new hotels in the year. IHCL now has a vast presence across 31 states and Union Territories in India, and has achieved a 50:50 mix between owned/leased and managed hotels.
According to Puneet Chhatwal, IHCL’s success in FY23 is due to the loyalty of its guests, guidance from its Board, and commitment from its 28,000 employees. The company’s focus is on creating value for stakeholders, providing customers with a unique hospitality ecosystem, engaging local communities in its value chain, and delivering superior performance. In comparison to the previous year, IHCL saw a significant improvement in its financials, with a 90% increase in revenue and a profit of Rs 339 crore. The company also achieved a record EBITDA margin of 32.7% and remains net cash positive, with a healthy consolidated free cash flow of Rs 1,017 crore in FY22-23. The Taj brand now has a portfolio of 100 hotels and has doubled its room inventory over the past five years. As part of its Ahvaan 2025 initiative, IHCL has achieved a balanced portfolio mix between its owned/leased and managed hotels.