It has been a strong showing despite the turbulence in global economies on account of the COVID pandemic. IHCL reported the highest full-year PAT at Rs 354 crore- up by 24 per cent year on year as well as the highest full-year EBITDA at Rs 1,100 crore, up by 20 per cent year on year.
The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, reported its Consolidated and Standalone financials for the fourth quarter ending March 31st 2020, year ending March 31st 2020.
Design element: KEY CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDING MAR 31, 2020
Design element: KEY CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDING MAR 31, 2020
For the year ending March 31, 2020, the Board of Directors have recommended an equity dividend of 50 per cent amounting to Rs. 0.50 per share.
Commenting on the fiscal performance, Puneet Chhatwal, Managing Director and Chief Executive Officer IHCL said, “IHCL has delivered on the promise of profitable growth across all parameters, culminating in an all-time high EBITDA and PAT. The re-imagined brandscape helped us reach a significant milestone of 200 hotels in our portfolio. Another proud moment for us is the recent recognition of Taj as India’s Strongest Brand across all industries by Brand Finance. This ranking is a testament to the strength of our brand and the trust reposed in us by all our stakeholders, as we ready to welcome guests in the new normal with enhanced health and safety protocols.”
Two years into the execution IHCL’s five-year strategy – Aspiration 2022, the Company reported that it has made significant inroads into meeting their defined objectives which include a defined a five-point agenda named ‘R.E.S.E.T 2020’ to address the challenges posed by the unprecedented global crisis and help the company navigate through these difficult times. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL stated, “We have consistently been able to deliver industry-leading growth while maintaining profitability and balance sheet strength. The culture of performance, business sense and financial prudence institutionalized within the organization have positioned us well to combat the challenges posed by COVID-19. We are confident of resetting and rebounding stronger.”
Significant milestones included:
The Taj brand was rated by Brand Finance as the Strongest Indian brand across all sectorsEBITDA margins at 24% for 12 months of FY 2019-20 (up 406 bps)Nine consecutive quarters of profitable growth12 hotels opened in FY 2019-20: Reached a milestone of 200 hotels with over 25,000 rooms across 100+ locations Signed 29 hotels with an inventory of over 3,700 rooms for FY 2019-20Ginger crossed the milestone of 50 operational hotels and registered strong growth in signings with the highest number of keys signed under any single brand in India during FY 2019-20Company readies for post-COVID opening with new and stringent hygiene, sanitisation and social distancing protocols across its hotels titled trademark Tajness – A Commitment Restrengthened.