EIH Ltd. share price target and research reports

16 Aug 2019

366.85

1.82%

EIH

Buy: EIH Ltd.

Target

ICICI Securities Limited

EIH reported a weak set of results mainly on account of the weak performance of the flight catering business. Revenues declined 13.5% YoY to | 290 crore (vs. I-direct estimates of ~| 350 crore). This drop in revenues was on the back of flight catering business losing ~50% business with the grounding of Jet Airways. Flight catering revenues came in at | 38 crore (down 49% YoY) while revenues from rooms and F&B; segment were at | 252 crore vs. | 257 crore YoY. Combined (domestic and managed hotels) RevPAR increased 0.6% YoY to | 6310 and occupancy improved 86 bps to...

03 Jun 2019

366.85

1.82%

EIH

Buy: EIH Ltd.

Target

ICICI Securities Limited

Despite short-term setback, growth momentum to stay Q4FY19 was a challenging quarter for the hospitality industry as a whole led by the grounding of a major airline. This led to a financial setback and also impacted the business growth momentum. As seen in Q4FY19, EIH has taken a hit on its P&L; relating to receivables of its airline catering business from a single customer to the tune of ~| 85 crore. We believe this would have been further aggravated by lower revenues from that segment. Additionally, due to the grounding of the airline company, air fares had shot...

31 Jan 2019

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research EIH reported healthy revenue growth of 22.6% YoY during the quarter backed by improved occupancy across its properties along with incremental revenues from refurbished Delhi property Stabilisation of Delhi property and cost optimisation led to 693 bps margin expansion in the quarter. On absolute basis, EBITDA rose sharply by 59.7% to | 132.4 crore (vs. I-direct estimate: | 112.7 crore) With healthy margins and revenue growth, PAT of | 63.9 crore was...

31 May 2018

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Target

ICICI Securities Limited

EIH reported a mixed set of Q4FY18 numbers. The reopening of the New Delhi property has started gaining traction and positively contributed to revenues and margins in Q4FY18 Consequently, revenues increased 16.7% YoY to | 431.4 crore (above our estimate of | 411.6 crore). EBITDA increased 73.2% YoY to | 98.8 crore (vs. I-direct estimate of | 103.6 crore). EBITDA margin increased 747 bps YoY to 22.9% led by a decline in employee expenses. The Board has recommended a dividend of | 0.90/share...

31 Jan 2018

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Target

ICICI Securities Limited

EIH reported a weak set of Q3FY18 results. The results were below our estimates on all fronts. Revenues were flat YoY at | 362.1 crore (below I-direct estimate of | 376.0 crore) On the margin front, the EBITDA margin declined 282 bps YoY to 22.9% (below I-direct estimate of 25.8%) led by an increase in employee expenses (up 14.3% YoY) Net profit declined 21.5% YoY to | 42.7 crore EIH well poised to capture cyclical upturn in hotel sector...

31 Oct 2017

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

ICICI Securities Limited

EIH reported a weak set of Q2FY18 numbers. The results were below our estimate on all fronts. Revenues were flat on a YoY basis at | 272.3 crore (below I-direct estimate of | 285.4 crore) On the margin front, the EBITDA margin declined from 5.0% in Q2FY17 to 3.3% (below I-direct estimate of 8.5%) led by an increase in employee expenses (up 9.9% YoY) Net profit declined 48% YoY to | 2 crore Expect recovery in domestic demand with rebound in economy...

02 Aug 2017

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Target

ICICI Securities Limited

EIH reported a mixed set of numbers. After four consecutive quarters of decline in revenues (mainly led by closure of The Oberoi, New Delhi for renovation), this is the first quarter where the company has reported revenue growth of low single digit. However, the same was below our estimate while net profit was above our expectation, mainly led by higher other income (up 259.4% YoY) Revenues increased 3.9% YoY to | 284.5 crore (below I-direct estimate of | 293.9 crore). The EBITDA margin declined 45 bps to...

EIH Ltd. has an average target of 488.00 from 1 broker.

01 Jun 2017

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Target

ICICI Securities Limited

For FY17, demand growth (6.2% YoY) outpaced supply growth (3.1% YoY). Further, overall occupancy improved 3.0% YoY to 64.0% while average room rate (ARR) improved 1.7% YoY. All major cities saw an increase in supply in range of 1-5%. Going forward, we expect occupancy to improve further due to a slowing down of capacity addition coupled with a rise in spending by domestic travellers. Also, with improved tourism measures by the government, we expect the sector to see better...

13 Apr 2017

366.85

1.82%

East India Hotel

Buy: EIH Ltd.

Recommendation Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research East India Hotels (EIH), one of the premium hotel operators, is expected to be a key beneficiary of a revival in the economic environment. We believe that a slowing down of capacity addition coupled with a rise in spending by domestic travellers will drive occupancy levels over the next few years. Also, with improved tourism measures by the government, the sector may see a better growth trajectory and pricing in the next three to four years. Apart from an improving environment, the reopening of the...