On 6 Nov 2026, Indian Hotels Co. was priced at ₹888.00, or 57.2× trailing earnings, against an industry P/E of 28.0×, and the shares are close to their 52-week high. Sales and net profit grew 19% and 28% a year over 3 years; its ROCE of 17% is the second-highest among the 7 largest Lodging peers. Debt is 0.22× equity, and its dividend yield is 0.4%. It is a large-cap company with a market cap of ₹1.3 lakh crore, the largest of 54 Lodging companies by market cap; the shares rose 18% over the past year.
- ₹888.80
- ₹892.70
- ₹868.00
- ₹875.00
- 82.8 L
Health check
- ReturnsAhead
+17.7% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 57.2 vs industry 28.0.
- GrowthSteady
Sales +18.6%, profit +27.6% a year over 3 years.
- ProfitabilityAverage
ROCE 17.4% vs peer median 13.5%.
- Balance sheetSolid
Debt 0.22× equity, interest covered 14.2×, Piotroski 7 of 9.
- Red flags1 to check
P/E of 57.2 against an industry P/E of 28.0.
Large cap
Market sensitivity
Key metrics
- Market cap
- ₹1.3L Cr
- Large cap
- P/E
- 57.2
- Industry 28.0
- Price to book
- 9.27
- Peers 3.72
- Dividend yield
- 0.37%
- ROE
- 16.5%
- Peers 13.8%
- ROCE
- 17.4%
- Peers 13.5%
- Debt to equity
- 0.22
- Debt ₹3,471 Cr
- EPS (TTM)
- ₹15.53
- Face value ₹1
- OPM (TTM)
- 32.9%
- Net margin 20.6%
- Sales growth
- +20.8%
- Latest quarter vs a year ago
- Profit growth
- +23.0%
- Latest quarter vs a year ago
- Price to sales
- 11.79
- EV/EBITDA 35.7
Strengths and risks
Strengths
- Quarterly profit up 23.0% on a year ago.
- Quarterly sales up 20.8% on a year ago.
- Net margin of 20.6%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 57.2 against an industry P/E of 28.0.
About Indian Hotels Co.
The Indian Hotels Company Limited, together with its subsidiaries, owns, operates, and manages hotels, palaces and resorts in India and internationally. It operates through two segments: Hotel Services and Air and Institutional Catering. The company operates hotels under the Taj, Claridges Collection, SeleQtions, Atmanan, Brij, Tajsats, GATEWAY, Vivanta, Ginger, Tree of Life, amã Stays & Trails, Qmin, and Taj Sats brand names. It also provides trails,…
- Headquarters
- Mumbai
- Employees
- 27,757
- Sector
- Consumer Cyclical
- ISIN
- INE053A01029
- Website
- ihcltata.com
Price range
- Avg volume (3M)
- 36 L
- 1-year return
- plus 17.7%
- From 52-week high
- minus 0.5%
Analyst consensus
Next results expected around 14 Jan 2027
Peers · Lodging
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INDHOTELIndian Hotels Co. | 888.00 | plus 1.49% | 1,26,401 | 57.2 | 9.27 | 17.4% | 16.5% | 32.9% | 18.6% | 27.6% | 0.37% | plus 17.7% |
| THELEELALeela Palaces Hotels & Resorts | 692.30 | plus 0.37% | 23,120 | 37.2 | 3.53 | 8.3% | 7.2% | 48.9% | 21.1% | – | 0.00% | plus 56.7% |
| EIHOTELEIH | 313.05 | plus 1.72% | 19,577 | 27.5 | 3.72 | 16.2% | 12.7% | 34.1% | 13.3% | 25.9% | 0.48% | minus 22.9% |
| CHALETChalet Hotels | 810.70 | minus 1.52% | 17,754 | 30.1 | 4.46 | 16.6% | 19.1% | 44.1% | 34.9% | 52.1% | 0.25% | minus 14.4% |
| VENTIVEVentive Hospitality | 540.55 | plus 1.53% | 12,624 | 28.0 | 2.23 | 9.7% | 8.3% | 43.2% | 13.0% | – | 0.00% | minus 27.8% |
| LEMONTREELemon Tree Hotels | 117.39 | minus 0.12% | 9,295 | 36.1 | 6.16 | 13.5% | 17.8% | 47.5% | 16.3% | 25.6% | 0.00% | minus 30.0% |
| ITDCIndia Tourism Development Corporation | 630.65 | minus 0.30% | 5,409 | 65.6 | 12.80 | 26.6% | 21.1% | 17.0% | 4.6% | 14.5% | 0.47% | plus 3.2% |
| ELEVATEElevate Campuses | 279.25 | minus 2.39% | 4,706 | 22.7 | 0.65 | 8.8% | 13.8% | 56.3% | 22.9% | 77.0% | 0.00% | minus 13.5% |
| Median of 7 peers | – | −0.12% | 12,624 | 30.1 | 3.72 | 13.5% | 13.8% | 44.1% | 16.3% | 25.9% | 0.00% | −14.4% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 2,041 | 2,842 | 2,765 | 2,339 | 2,484 | |
| 1,465 | 1,766 | 1,793 | 1,666 | 1,779 | |
| 576 | 1,076 | 973 | 673 | 706 | |
| 28.2% | 37.9% | 35.2% | 28.8% | 28.4% | |
| 61.1 | 58.3 | 79.5 | 80.2 | 81.9 | |
| 54.6 | 55.8 | 54.9 | 57 | 64.8 | |
| 143 | 150 | 167 | 163 | 174 | |
| – | 276 | – | – | −4 | |
| 440 | 1,203 | 830 | 533 | 545 | |
| 27.4% | 22.4% | 24.7% | 26.7% | 30.3% | |
| 296 | 903 | 600 | 358 | 349 | |
| 2.08 | 6.35 | 4.21 | 2.51 | 2.46 |
Profit & loss
- Sales CAGR 3Y
- +18.6%
- Profit CAGR 3Y
- +27.6%
- EPS CAGR 3Y
- +27.5%
- ROE
- 16.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,582 | 6,504 | 8,041 | 9,307 | |
| – | +16.5% | +23.6% | +15.7% | |
| 3,777 | 4,344 | 5,272 | 6,111 | |
| 1,805 | 2,160 | 2,769 | 3,196 | |
| 32.3% | 33.2% | 34.4% | 34.3% | |
| 60.7 | 140 | 174 | 156 | |
| 231 | 219 | 208 | 221 | |
| 416 | 454 | 518 | 605 | |
| 76 | 39.5 | 361 | 400 | |
| 1,295 | 1,666 | 2,578 | 2,926 | |
| 25.0% | 27.9% | 23.9% | 25.0% | |
| 1,003 | 1,259 | 1,908 | 2,084 | |
| – | +25.6% | +51.5% | +9.3% | |
| 7.06 | 8.86 | 13.40 | 14.64 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 142 | 142 | 142 | 142 | |
| 7,840 | 9,314 | 11,018 | 12,910 | |
| 3,139 | 2,736 | 3,084 | 2,837 | |
| 2,548 | 2,663 | 3,459 | 4,408 | |
| 13,669 | 14,856 | 17,704 | 20,297 | |
| 7,983 | 8,388 | 10,256 | 11,207 | |
| 368 | 278 | 624 | 826 | |
| 496 | 867 | 688 | 572 | |
| 1,794 | 2,186 | 3,066 | 4,315 | |
| 3,027 | 3,138 | 3,070 | 3,377 | |
| 13,669 | 14,856 | 17,704 | 20,297 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,619 | 1,935 | 2,194 | 2,471 | |
| −145 | −1,210 | −1,892 | −1,727 | |
| −1,528 | −985 | −547 | −976 | |
| −53.4 | −260 | −245 | −232 | |
| −489 | −651 | −1,117 | −1,037 | |
| 1,130 | 1,284 | 1,078 | 1,435 | |
| −64.4 | −155 | −252 | −342 |
Shareholding pattern
- Promoters38.12%
- Public61.88%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 38.12% | 61.88% | 0.00 | |
| 30 Jun 2026 | 38.12% | 61.88% | 0.00 | |
| 31 Mar 2026 | 38.12% | 61.88% | 0.00 | |
| 31 Dec 2025 | 38.12% | 61.88% | 0.00 | |
| 30 Sep 2025 | 38.12% | 61.88% | – |
Major shareholders
Filings & events
News
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