Sinclairs Hotels Nine Months EBIDTA up 23.90%

Sinclairs Hotels Ltd. has posted a Total Income of Rs.4,826.39 lakh (Rs.4,309.65 lakh) and EBIDTA of Rs. 2,362.33 lakh (Rs.1,906.67 lakh) for the nine months ended 31st December 2023. Profit Before Tax for the period stood at Rs. 1,902.76 lakh (Rs.1,485.22 lakh) while Profit After Tax for the period was Rs. 1,521.99 lakh as against Rs.1,132.97 lakh in the corresponding nine months of the previous year.

For the quarter ended 31st December 2023, the Company posted a Total Income of Rs. 1,611.90 lakh, a 6.66% increase over Rs. 1,511.21 lakh for the corresponding quarter in the previous year. EBIDTA for the quarter was Rs. 780.57 lakh (Rs. 688.19 lakh) and Profit Before Tax was Rs. 639.90 lakh (Rs. 539.29 lakh), while Profit After Tax for the quarter stood at Rs. 547.30 lakh (Rs. 404.48 lakh).

Buyback at Rs.200 per share :- The Buyback of 15,20,000 equity shares of Rs.2 each at a price of Rs. 200/- per share amounting to Rs.30,40,00,000 was completed on October 25, 2023 and paid-up share capital stood reduced to Rs. 512.60 lakh.

1:1 Bonus Issue :- On January 30, 2024, 2,56,30,000 fully paid up Bonus Equity shares of Rs. 2 each in the ratio of 1:1 were issued and allotted. Accordingly, the paid-up share capital stands increased to Rs. 1025.20 lakh, comprising of 5,12,60,000 equity shares of Rs 2 each. The said bonus shares have been listed and trading has commenced.

Expansion Plans: The company has decided to expand by acquiring on lease/management contract hotel properties in the states of Rajasthan and Himachal Pradesh. Negotiations with several property owners are in an advanced stage.

Sinclairs properties at Ooty, Darjeeling, Burdwan, Dooars, Kalimpong, Siliguri and Gangtok, were once again the recipients of the TripAdvisor Travellers' Choice Award 2023, based on the reviews and opinions from travellers around the world. This annual award recognises the best tourism establishments in terms of service, quality, customer satisfaction and more, across a range of categories. The properties of Sinclairs are also highly rated by leading online travel portals like Booking.com, Agoda.com, GO-MMT, etc.

Shares of SINCLAIRS HOTELS LTD. was last trading in BSE at Rs. 129.90 as compared to the previous close of Rs. 140.20. The total number of shares traded during the day was 182695 in over 2360 trades.

The stock hit an intraday high of Rs. 140.00 and intraday low of 120.70. The net turnover during the day was Rs. 24017246.00.

Source : Equity Bulls

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