Indian Hotels Company - First Cut - Microsec Research

Indian Hotels Company announced its Q4FY12 & FY12 results on 28th may, 2012.

Quarterly performance - Q4FY12:

The company arrived at Net sales of INR560.16 crores, which was up by 5.52% on yearly basis and 7.42% sequentially. The EBITDA for the quarter was INR159.20 crores, which was down by 14.23% on yearly basis , but sharply up by 13.15% sequentially. The EBITDA Margin was 28.42%, which was again down by 655bps Y-o-Y, but up by 144bps sequentially. IHCL posted a net profit of INR65.21 crores, which was down by 30.58% Y-o-Y, but up by 29.18% sequentially.

Annual Performance - FY12:

The company arrived at consolidated Net sales of INR3432.71 crores, showing a yearly robust growth of 19.92%. The EBITDA for the year was INR545.71 crores, which was up by 8.10%. However, the margin was down by 174bps. The company turned profitable after giving huge losses for last two consecutive years. It arrived at net profit of INR3.06 crores, depicting a huge upside of 96.49%. The net profit margin increased by 314bps.

The Board recommended a dividend of 100 per cent or INR1 per share, an ordinary share in respect of the year ended March 31, 2012.

Thus, we recommend a "BUY" for the stock at the current level.

Source : Equity Bulls

Keywords