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The Indian Hotels Company Limited (IHCL) Delivers 101 Crore Profit and Declares 40% Dividend for FY 2017-18

4% Growth in Consolidated Revenue (4165 crore)*

Operating EBITDA up 11% (670 crore)*

Mumbai, May 25, 2018: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company  reported its consolidated and standalone financials for the year ending March 31st 2018 and for the 4th quarter ending March 31st 2018.

KEY CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31st 2018

For the year ending March 31st 2018, the Board of Directors have recommended an equity dividend of 40% amounting to Rs. 0.4 per share. This is an increase over the previous dividend pay-outs of 35% & 30% in 2016/17 & 2015/16 respectively.

Commenting on the fiscal performance, Mr. Puneet Chhatwal, MD and CEO, said: “We delivered a stellar performance on improved profitability and growth in FY18. With a sharpened brandscape and continuous focus on growth, we are confident of consolidating our position of being the most iconic and profitable hospitality company in South Asia. I am very proud of the exceptional efforts made by my colleagues in increasing our EBITDA margins in the quarter by 4.6%.”

The company unveiled a comprehensive five-year business strategy, ‘Aspiration 2022’ on February 16th, 2018 at the Capital Market Day. The strategy aims to strengthen market leadership and achieve transformative growth leading to greater profitability. Key tenets of the plan include unlocking value from efficiencies in scale and simplifying the holding structure for greater profitability.

Mr. Giridhar Sanjeevi, CFO, stated: “The strong performance is a result of our focus on margin enhancement through optimization measures within an environment of growing demand. The rights issue coupled with better balance sheet management helped us to reduce the debt to equity ratio to 0.45.”

*PY numbers excludes one off’s for like to like comparison 

KEY HIGHLIGHTS

  • During the year, the Company opened ten hotels (697 keys). It opened the iconic Taj in Andamans and 9 Ginger hotels in some of India’s key cities like Mumbai, Gurgaon, Lucknow, Ahmedabad, Vadodara, Aurangabad and Goa.
  • IHCL signed five new hotels across its brands in the financial year – a Taj hotel in Vikhroli in Mumbai, Vivanta in Bhopal and three Ginger hotels in Lucknow, Vadodara and Goa.
  • Taj Exotica Resort & Spa, Andamans, a luxury resort offering, opened in February 2018. Andamans is poised to be one of the top destinations to travel in 2018, with its picturesque and idyllic virgin beaches. With the opening of this resort, IHCL’s position, as a pioneer in developing India’s tourism and having the largest network of leisure hotels gets further strengthened.
  • The Company undertook a phased renovation, renovated 800 rooms and other facilities at several of its landmark hotels including the iconic flagship hotel The Taj Mahal Palace, Mumbai, Taj Lands End, Mumbai, Taj Bengal, Kolkata, Taj Exotica Resort & Spa, Goa and Taj Fort Aguada Resort & Spa, Goa. This has delivered world class products, augmented in-room features and refreshed and vibrant culinary destinations.
  • The Taj Mahal Palace, Mumbai secured image trademark rights for its elegant hotel building and its characteristic dome from the Government of India, the first hotel to get a registration of this kind, in the country.
  • In line with IHCL’s commitment to safeguard the environment, the company launched an initiative of phasing out plastic towards developing sustainable practices. Thirty of its luxury hotels have replaced plastic wrapped dry amenities in their rooms with eco-friendly substitutes. Taj Exotica Resort & Spa, Andamans is going to be its first zero plastic hotel.
  • The Company recently announced two new programs in-line with its commitment to promote equal opportunities for women. The first is an incentive program for referring women candidates. The second is a policy announcement to reimburse expenses for family expansion and overall health treatments which cover various medical procedures including IVF treatments. IHCL also appointed its first woman CEO for Roots Corporation Ltd. (Ginger Hotels)

AWARDS & RECOGNITION

GALLUP GREAT WORKPLACE AWARD

IHCL is a seven-time winner of the GALLUP Great Workplace Award – IHCL is the only Indian hospitality company on the list

PEOPLE CAPITAL INDEX AWARD

IHCL featured on the list of India’s 50 Best Companies for Talent Satisfaction

PATWA INTERNATIONAL AWARD

Taj Hotels Palaces Resorts Safaris was awarded Luxury Hotel Chain of the Year

DUN & BRADSTREET CORPORATE AWARD

IHCL received the Best Hotel Company Award

ALL INDIA INVESTOR RELATIONS AWARD

IHCL received the Best All India Investor Relations Award in the category of large-cap companies

BUSINESS TRAVELLER UK AWARD

Taj Hotels Palaces Resorts Safaris was awarded Best Business Hotel Chain in India

THE TELEGRAPH TRAVEL AWARD

Taj Hotels Palaces Resorts Safaris was voted Best Hotel Group: Runner-Up

TRIPADVISOR TRAVELERS’ CHOICE AWARD

Umaid Bhawan Palace, Jodhpur was recognized as the Best Hotel in India; ranked number 2 in Asia and number 3 in the World’s Best Hotels list

CONDE NAST TRAVELER USA GOLD LIST

The Taj Mahal Palace, Mumbai and Taj Lake Palace, Udaipur featured on Conde Nast Travelers’ Gold List

CONDE NAST TRAVELER USA READERS’ CHOICE AWARD

Rambagh Palace, Jaipur, Umaid Bhawan Palace, Jodhpur and Taj Diplomatic Enclave, New Delhi featured on the list of 50 Best Hotels in the World


About The Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) and its subsidiaries, bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - the Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 165 hotels including 20 under development globally across 4 continents, 12 countries and in over 80 locations.  

The Indian Hotels Company Limited (IHCL) is amongst South Asia’s largest Indian hospitality company by market capitalization. It is primarily listed on the BSE and NSE. 

Please visit www.tajhotels.comwww.gingerhotels.com   

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For more information, please contact:  rakhee.lalvani@tajhotels.com