# Indian Hotels Co share price today (Indian Hotels Co Ltd, NSE: INDHOTEL)

> Indian Hotels Co share price today: ₹836.05 at the NSE close on 3 November 2026, up 12.7% in a year. Indian Hotels Co (NSE: INDHOTEL) is worth ₹1,18,955 crore, trades at a P/E of 59.2 and has closed between ₹582.75 and ₹836.05 over the past 52 weeks. > Indian Hotels Co Ltd's results are improving, while its P/E is near the low end of its own history over 8.4 years, higher than only 35% of past readings. INDHOTEL · Hotels · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/indian-hotels-co-ltd

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## Key numbers

- Business trend: Growing steadily, from fewer quarters than usual
- Price: ₹836.05 (+12.7% in a year)
- P/E: 59.2× (lower than 65% of the last 8.4 years)
- Revenue (Sep 2026): ₹2,484 Cr (+21.7% on a year ago)
- Profit (Sep 2026): ₹380 Cr (+19.5% on a year ago)
- Operating margin: 28.0% (flat on a year ago)
- ROCE: 17%, FY26
- Profit that came in as cash: 118%, last 3 years

The main question: foreign institutions moved −5.3 percentage points over 8 quarters while the business went the other way. ## What is the Indian Hotels Co share price today? Indian Hotels Co Ltd's share price was ₹836.05 at the close on 3 November 2026. It has been rising for 15 weeks. That is 16.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹583 and ₹836, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 9 weeks in a row. Over the last 11 years the share price moved +841% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Indian Hotels Co this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 4 quarters in a row and closed the week at a 52-week high. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹2,484 crore, +21.7% on a year earlier. Why: Revenue rose because domestic guests and large meetings and events filled more rooms at higher prices, and the company won more business from rivals. Next results: check if hotel openings, room rates, occupancy, and event and wedding demand keep sales growing. From the earnings call on 21 Oct 2026. 2. Profit up on a year earlier for 4 quarters in a row In the September 2026 quarter profit was ₹380 crore, +19.5% on a year earlier. Why: Profit rose because the core hotel business made more money from higher room occupancy and prices, helped by large meetings and events. Next results: check if London and San Francisco hotels recover, since weak travel there weighed on profit. From the earnings call on 21 Oct 2026. 3. Closed the week at a 52-week high ₹811.65 on 30 Oct 2026, the highest weekly close in a year. ## What are Indian Hotels Co's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Indian Hotels Co reported revenue of ₹2,484 crore, up 21.7% from ₹2,041 crore a year earlier, and a profit of ₹380 crore, up 19.5% from ₹318 crore. ### Indian Hotels Co results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹2,484 crore | ₹2,041 crore | +21.7% |
| Profit | ₹380 crore | ₹318 crore | +19.5% |
| Earnings per share | ₹2.46 | ₹2.00 | +23.0% |
| Operating margin | 28.0% | 28.0% | 0.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Indian Hotels Co's management discussed these results on a call held on 21 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Indian Hotels Co share price history? Indian Hotels Co closed at ₹836.05 on 3 November 2026, up 12.7% from ₹741.80 a year earlier (31 October 2025) and up 300.3% over five years. Its highest weekly close since March 2016 was ₹872.45 on 3 January 2025. ### Indian Hotels Co share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹781.75 | +6.9% |
| 1 month ago · 1 Oct 2026 | ₹718.00 | +16.4% |
| 6 months ago · 30 Apr 2026 | ₹635.85 | +31.5% |
| 1 year ago · 31 Oct 2025 | ₹741.80 | +12.7% |
| 3 years ago · 3 Nov 2023 | ₹392.90 | +112.8% |
| 5 years ago · 4 Nov 2021 | ₹208.87 | +300.3% |
| 10 years ago · 4 Nov 2016 | ₹102.41 | +716.4% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹88.89 | +840.5% |
| Highest weekly close since March 2016 · 3 Jan 2025 | ₹872.45 | −4.2% |
| Lowest weekly close since March 2016 · 8 May 2020 | ₹65.21 | +1,182.1% |
| 52-week high (weekly close) · 3 Nov 2026 | ₹836.05 | 0.0% |
| 52-week low (weekly close) · 2 Apr 2026 | ₹582.75 | +43.5% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Indian Hotels Co? 3 Nov 2026: Indian Hotels Co closed at ₹836.05, up 6.9% on the week and up 16.4% on the month. 21 Oct 2026: Indian Hotels Co held its results call for July to September 2026. Management guided: FY27 consolidated revenue growth 15%-17%, including hotel-segment growth of 17%-19%. ### Earlier

- Results for July to September 2026: Revenue up 21.7% and profit up 19.5% on a year earlier. - 23 Jun 2026: ex-date for a dividend of ₹3.25 a share. ## What dividend does Indian Hotels Co pay? Indian Hotels Co paid ₹3.25 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.39% at the ₹836.05 close on 3 November 2026. The last was a dividend of ₹3.25 a share, ex-date 23 June 2026. ### Indian Hotels Co dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 23 Jun 2026 | ₹3.25 | Dividend | same day |
| 30 Jun 2025 | ₹2.25 | Dividend | same day |
| 7 Jun 2024 | ₹1.75 | Dividend | same day |
| 9 Jun 2023 | ₹1 | Dividend | n/a |
| 22 Jun 2022 | ₹0.40 | Dividend | n/a |
| 14 Jun 2021 | ₹0.40 | Dividend | 15 Jun 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Indian Hotels Co Ltd paid out 22% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 13 reported years. 4 of those years show a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Indian Hotels Co management say on the latest results call? On the call for July to September 2026, held on 21 October 2026, Indian Hotels Co's management guided: FY27 consolidated revenue growth 15%-17%, including hotel-segment growth of 17%-19%. > “We will not be aggressive on international growth, but we will remain opportunistic and continue adding whenever we can because it is the first and, at the moment, the only consumer brand from India that has made it onto the international front.”
> Puneet Chhatwal, on the call for July to September 2026

### What management guided

- FY27 expansion: 50 hotel openings, 30 in H2, Ginger to reach 150 operating hotels by March 31 FY27, and 5,000 keys annually; portfolio goal to be revised mid-November as 700 approaches. - FY28 standalone operating revenue uplift of 6%-7% from OHL, from appointed date April 1, 2027. - Management fees to sustain high-teens yearly growth and exceed ₹1,000 crore within two years. - FY28 revenue expected to exceed FY27, supported by approximately 95 wedding nights versus a typical 60-65. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/382/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 21 October 2026.)

## What is the future of Indian Hotels Co? What is changing in the business? What is changing at Indian Hotels Co, from the latest results and calls: capital-light model structural fee lift, ginger and new brands scale and domestic demand substitution. - Capital-Light Model Structural Fee Lift. Management fee income grew 21% to 259 crore in H1 FY26, with contracts structured at above 70% flow-through margins. ⚠ estimate
- Ginger and New Brands Scale. New businesses (Ginger, Qmin, ama) delivered 25% on a year earlier revenue growth in FY26, now contributing 10% of enterprise revenue. ⚠ estimate
- Domestic Demand Substitution. Goa delivered 25% RevPAR growth in April-May 2026, as West Asian event cancellations partially substituted toward domestic premium resorts. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Indian Hotels Co story? What are the risks? If July to September 2026 like-for-like RevPAR growth delivers at or above 9% alongside sequential operating margin stability at 35% or above for two consecutive quarters, with management attributing the sustained margin explicitly to structural fee income rather than seasonal occupancy pricing, the mid-cycle mean-reversion case would need to be revised. ### Each change stops working if

- Capital-Light Model Structural Fee Lift: Owner partners default or shift to competing operators during a prolonged demand downcycle, reducing management fee rolls. - Domestic Demand Substitution: Domestic demand softens in tandem with international demand in a global downcycle scenario, eliminating the substitution offset. ### The main risks

- RevPAR Growth Deceleration: FY27 RevPAR guidance was cut from above 10% to 7-9%, and management explicitly cited geopolitical headwinds causing 100 crore enterprise impact in Q4. ✓ fact
- Guidance Credibility Erosion: Management downgraded RevPAR guidance twice, delayed Taj Frankfurt opening, and shifted US asset position from status quo to in negotiations within a six-month period. ✓ fact
- FII structural stake-cutting: FII ownership fell from 27.78% in Dec 2024 to 23.23% in Mar 2026, a 4.55-percentage-point rotation out over five quarters. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Indian Hotels Co's next results? When Indian Hotels Co reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: H2 hotel openings and Ginger integration: check deliveries against announced milestones and onboarding pace. - What to check (from the call)
- H2 hotel openings and Ginger integration: check deliveries against announced milestones and onboarding pace. - TajSATS H2 improvement: test revenue and margin against continuing airline-schedule constraints. - International recovery: monitor London, Pierre and San Francisco performance against stated improvement expectations. - Management-fee growth: track opening conversion against the two-year revenue threshold. ## Which stock lists is Indian Hotels Co on? Indian Hotels Co is on 4 of our India lists: Momentum stocks, Breakout stocks, 52 week high & low and Hotel stocks. - [Momentum stocks Market cap cr: 117077.42561448901](https://www.sectoralpha.in/momentum-stocks-india)
- [Breakout stocks Breakout date: 16 October 2026](https://www.sectoralpha.in/breakout-stocks-india)
- [52 week high & low 52-week position: At 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Hotel stocks Group on the list: Hotel owners and chains](https://www.sectoralpha.in/sectors/hotels)

## Is Indian Hotels Co profitable? Indian Hotels Co Ltd earned ₹380 Cr of net profit in the Sep 2026 quarter, +19.5% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹2,247 Cr. That is 15.3% of the quarter's revenue. The same quarter a year earlier earned ₹318 Cr. For the full year, FY26 profit was ₹2,247 Cr (+10.3% on the year before). Why profit moved: revenue changed +21.7% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +25.9% and revenue +15.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Indian Hotels Co make, and is it growing? Indian Hotels Co Ltd reported ₹2,484 Cr of revenue in the Sep 2026 quarter, +21.7% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 9.2% a year on average. The last full year, FY26, came in at ₹9,689 Cr. Why this happened. Ginger has crossed 100 crore revenue at Mumbai Airport with a 56% EBITDA margin. The brand goals a 250-hotel portfolio by end-FY27, with the Clarks integration adding 135 hotels. New businesses growing at 25-30% CAGR against a low base provide incremental revenue without owned-asset capex. The last four reported quarters add to ₹10,430 Cr. FY26 revenue was ₹9,689 Cr, +16.2% on the year before. Recent pace: the last four quarters grew +15.6% on average, against 9.2% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +15.4%, against +20.0% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +28.6%, against +16.1% a year (accelerating). ## How much of every ₹100 of sales does Indian Hotels Co keep? Indian Hotels Co Ltd's operating margin was 28.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between −23.0% and 33.0%. The latest quarter is within that range. Why this happened. The operating portfolio has shifted from 22% to 68% capital-light over eight years, with 93% of the pipeline under management contracts or revenue-sharing leases. Fee income from contracts carries margin north of 70% and is largely uncorrelated with owned-asset operating leverage. This structural component supports a floor margin above the pre-2020 average. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.5 percentage points on the year while gross margin changed +1.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Indian Hotels Co's profit turning into cash? Over the last 3 years, 118% of Indian Hotels Co Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,471 Cr of operating cash against ₹2,247 Cr of profit. After ₹2,051 Cr of spending on assets, ₹420 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 118% of profit came in as cash: the cash cycle got 329 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.4× depreciation over three years. The next section checks what that spending is building. ## Where does Indian Hotels Co's cash go? Indian Hotels Co Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −191 days in FY26, up from −520 days in FY21. It spent ₹5,423 Cr on assets over the last 3 years. Customers take 27 days to pay, and stock sits for 57 days on average. At FY26 sales of ₹9,689 Cr, each day of that cycle ties up about ₹26.5 Cr, so roughly −₹5,070 Cr is tied up in the business at any time. FY26: customers took 27 days to pay and stock sat for 57 days, about 1.9 months of sales sitting as stock, for a full cycle of −191 days, longer than FY21's −520. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 57 days. Customers pay about 27 days after that. Suppliers are paid at 276 days. Together that makes the −191-day cycle. Spending on assets: ₹5,423 Cr over the last 3 years, against ₹1,577 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹787 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Indian Hotels Co's P/E ratio, and how does it compare with its own history? Indian Hotels Co Ltd's P/E is 59.2×, near the low end of its own history: it has been lower only 35% of the time. Its usual P/E (the middle reading) is 64.0×, over 8.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹15.53. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +9.3% while the price moved +12.7%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved +28.6% a year; about +22.2% a year came from earnings growth and about +6.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 10% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the Indian Hotels Co share price assume? Worked out from its price on 26 August 2026, Indian Hotels Co Ltd's share price assumed profit growth of about 25.1% a year. Today its P/E is 59.2×, lower than 65% of its own last 8.4 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Indian Hotels Co business getting better or worse? Indian Hotels Co Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: steady growth with healthy returns is how a business compounds over time. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Indian Hotels Co story, and has it been checked? Indian Hotels Co Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EXPANSION STARTED. Our read, 22 August 2026. From the numbers. The inversion runs deep: OPM at 35.2% is at the 85th percentile of its own…

From the price. Price stage 2, week 15, above its 200-day line, relative strength rising. From the research. What is proven. What is not proven yet. If Q2 FY27 like-for-like RevPAR growth delivers at or above 9% alongside sequential OPM stability at 35% or above for two consecutive quarters, with management attributing the sustained margin explicitly to structural fee income rather than seasonal occupancy pricing, the mid-cycle mean-reversion case would need to be revised. What would change our mind. If Q2 FY27 like-for-like RevPAR growth delivers at or above 9% alongside sequential OPM stability at 35% or above for two consecutive quarters, with management attributing the sustained margin explicitly to structural fee income rather than seasonal occupancy pricing, the mid-cycle mean-reversion case would need to be revised. The test written in advance. Peak Margin Mean Reversion. Measured by: Peak Margin Mean Reversion by the next result. The test written in advance. RevPAR Growth Deceleration. Measured by: RevPAR Growth Deceleration by the next result. What the company does. Management has already tempered FY27 guidance to 12-14% revenue growth citing 100 crore enterprise impact from West Asian event cancellations, and RevPAR guidance was cut from above 10% to the 7-9% range. What the surface reading misses. The surface reading is: 35.2% OPM is at a historically high level, suggests a business firing on all cylinders. The research reads it further: The 85th percentile position means only 15% of historical quarters showed higher margins. Hotels are a cyclical business with occupancy-driven operating leverage. Peak occupancy of 78% portfolio-wide compresses future rate of margin expansion. What the surface reading misses. The research reads it further: The denominator EPS 14.64 is inflated by peak operating margins. Lever 1 · Operating leverage: building. Management fee income grew 21% to 259 crore in H1 FY26, with contracts structured at above 70% flow-through margins. What proves it keeps working: Capital-Light Model Structural Fee Lift. It stops working if Owner partners default or shift to competing operators during a prolonged demand downcycle, reducing management fee rolls. Lever 14 · A bigger market to serve: building. New businesses (Ginger, Qmin, ama) delivered 25% YoY revenue growth in FY26, now contributing 10% of enterprise revenue. What proves it keeps working: Ginger and New Brands Scale. It stops working if Clarks integration proves slower than the one-year FY27 realization timeline, or Ginger's margin at scale reverts from the 56% Mumbai Airport read to the lower consolidated brand average. Lever 7 · Consolidation: building. Goa delivered 25% RevPAR growth in April-May 2026, as West Asian event cancellations partially substituted toward domestic premium resorts. What proves it keeps working: Domestic Demand Substitution. It stops working if Domestic demand softens in tandem with international demand in a global downcycle scenario, eliminating the substitution offset. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Indian Hotels Co management deliver what it promised? What Indian Hotels Co Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Reported Portfolio Size Reversed · 21 October 2026. The May 2026 call described a portfolio of over 630 hotels, and the Jul 2026 call reported 645 hotels with 382 operational. In Oct 2026, management instead reported 352 hotels and 319 operational, then said it would reach 400 operational hotels by November; this unexplained reversal materially changes the reported asset base and the implied growth trajectory. FY27 Revenue Guidance Raised · 21 October 2026. The May 2026 call guided to 12%-14% consolidated revenue growth for the FY '27 fiscal. The Oct 2026 call raised that range to 15%-17% and added 17%-19% hotel segment growth, a material change to the revenue model; management cited momentum and seasonality but did not provide a quantitative bridge from the original assumptions. FY27 Hotel Opening Goal Reduced · 21 October 2026. The May 2026 call expected 60-plus hotel openings for FY '27, while the Oct 2026 call planned 50 openings, a reduction of at least 10 hotels. The latest call did not explain the lower goal, which is material for portfolio scale, non-like-for-like revenue, and the prior growth assumptions. Frankfurt Contribution Delayed · 21 July 2026. In May 2026, management expected Frankfurt to open in June and contribute during FY '27. In July 2026, management said the impact would begin only in September and acknowledged that the project had been delayed, without identifying a specific cause for the schedule change. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Indian Hotels Co earn on its capital? Indian Hotels Co Ltd earned a ROCE of 17% in FY26. That is up from a low of −6% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 23.2% net margin and 0.48× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 23.2% net margin × 0.48× asset turnover × 1.55× leverage (assets divided by equity) ≈ 17.3% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 10% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Indian Hotels Co have too much debt? Indian Hotels Co Ltd had ₹2,837 Cr of borrowings against ₹13,052 Cr of equity in FY26, so its debt is 0.22× its equity. Its operating profit is 15 times its interest bill. Over 5 years borrowings went from ₹5,518 Cr to ₹2,837 Cr. Over the last 3 of those years it spent ₹5,423 Cr on assets. The spending on assets is being paid for from cash, not new debt. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 10% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Indian Hotels Co shareholding pattern? Domestic institutions raised their stake in Indian Hotels Co Ltd by 5.8 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 24.5% of the company. Foreign institutions moved −5.3 points over the same period, to 22.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +5.8 points over 8 quarters, to 24.5%; Foreign institutions: −5.3 points over 8 quarters, to 22.1%; Promoters: +0.0 points over 8 quarters, to 38.1%. Why the owners changed: foreign institutions moved −5.3 points and domestic institutions +5.8 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Indian Hotels Co from balance-sheet trouble? For Indian Hotels Co Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Indian Hotels Co rank in its industry? 66.9 out of 100, rank 2 of 24 in Hotels, with 82% of the evidence available. Indian Hotels Co Ltd scores 66.9 out of 100 against the 24 companies it is compared with in Hotels, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 22.5 + 17 + 10.2 + 17.2 = 66.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Indian Hotels Co compared with? Indian Hotels Co ranks 2 of 24 Hotels companies on the 4-Factor Sector Score, with 66.9 out of 100. 1. [Asian Hotels (West) Ltd](https://www.sectoralpha.in/stocks/asian-hotels-westltd) AHLWEST · turning · Most evidence points up · 64% evidence 68.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.3/35 · Revenue 8.5% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 19.2/25 · ROCE 19.7% · Operating margin 40% · 100% evidence Valuation 11.4/20 · P/E 6.7× · PEG n/a · 15% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 34.1% · 1 year n/a · 25% evidence · 0 of 12 weeks ahead Exact sum: 25.3 + 19.2 + 11.4 + 12.2 = 68.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Indian Hotels Co Ltd this page INDHOTEL · turning · Most evidence points up · 82% evidence 66.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 15.4% · Profit 28.6% · Operating margin change 0 points · 95% evidence Capital efficiency 17.0/25 · ROCE 17.1% · Operating margin 28% · 76% evidence Valuation 10.2/20 · P/E 57.5× · PEG n/a · 50% evidence Relative strength 17.2/20 · Lead over its industry 16.2% · Lead over NIFTY 500 22.1% · 1 year 9.4% · 100% evidence · 8 of 12 weeks ahead Exact sum: 22.5 + 17 + 10.2 + 17.2 = 66.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [TajGVK Hotels & Resorts Ltd](https://www.sectoralpha.in/stocks/tajgvk-hotels-resorts-ltd) TAJGVK · quiet · Most evidence points up · 74% evidence 65.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.4/35 · Revenue 22.5% · Profit 100% · Operating margin change 0 points · 88% evidence Capital efficiency 13.4/25 · ROCE 13.3% · Operating margin 30% · 100% evidence Valuation 15.3/20 · P/E 13.2× · PEG 0.85 · 65% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -9.1% · 1 year -28% · 25% evidence · 2 of 12 weeks ahead Exact sum: 28.4 + 13.4 + 15.3 + 8.1 = 65.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Oriental Hotels Ltd](https://www.sectoralpha.in/stocks/oriental-hotels-ltd) ORIENTHOT · leader · Evidence leans up · 93% evidence 64.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.9/35 · Revenue 6.8% · Profit 36% · Operating margin change -0.8 points · 100% evidence Capital efficiency 14.1/25 · ROCE 12.1% · Operating margin 23% · 100% evidence Valuation 12.9/20 · P/E 42.1× · PEG 0.88 · 65% evidence Relative strength 20.0/20 · Lead over its industry 37.9% · Lead over NIFTY 500 44.5% · 1 year 30.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 17.9 + 14.1 + 12.9 + 20 = 64.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Leela Palaces Hotels & Resorts Ltd](https://www.sectoralpha.in/stocks/leela-palaces-hotels-resorts-ltd) THELEELA · leader · Evidence leans up · 93% evidence 61.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 23.5% · Profit 80.5% · Operating margin change -1 points · 100% evidence Capital efficiency 10.5/25 · ROCE 8.7% · Operating margin 43% · 100% evidence Valuation 8.7/20 · P/E 45.2× · PEG 1.81 · 65% evidence Relative strength 18.9/20 · Lead over its industry 35.4% · Lead over NIFTY 500 42.1% · 1 year 46.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.7 + 10.5 + 8.7 + 18.9 = 61.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [ITC Hotels Ltd](https://www.sectoralpha.in/stocks/itc-hotels-ltd) ITCHOTELS · turning · Evidence leans up · 93% evidence 55.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/35 · Revenue 19.9% · Profit 26.7% · Operating margin change 3 points · 100% evidence Capital efficiency 11.4/25 · ROCE 11.2% · Operating margin 32% · 100% evidence Valuation 7.9/20 · P/E 35.2× · PEG 2.02 · 65% evidence Relative strength 12.5/20 · Lead over its industry -2.5% · Lead over NIFTY 500 2.4% · 1 year -22.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.9 + 11.4 + 7.9 + 12.5 = 55.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Viceroy Hotels Ltd](https://www.sectoralpha.in/stocks/viceroy-hotels-ltd) VHLTD · breaking out · Evidence leans up · 78% evidence 54.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 24.4% · Profit -69.2% · Operating margin change 10.8 points · 65% evidence Capital efficiency 7.0/25 · ROCE 7.1% · Operating margin 25.6% · 100% evidence Valuation 8.5/20 · P/E 47.8× · PEG n/a · 50% evidence Relative strength 16.1/20 · Lead over its industry 10.2% · Lead over NIFTY 500 15.7% · 1 year 18.7% · 100% evidence · 6 of 12 weeks ahead Exact sum: 22.6 + 7 + 8.5 + 16.1 = 54.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Chalet Hotels Ltd](https://www.sectoralpha.in/stocks/chalet-hotels-ltd) CHALET · breaking out · Evidence leans up · 74% evidence 52.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.2/35 · Revenue 6% · Profit 85.3% · Operating margin change 6 points · 88% evidence Capital efficiency 18.5/25 · ROCE 17% · Operating margin 46% · 100% evidence Valuation 4.9/20 · P/E 33× · PEG 3.09 · 65% evidence Relative strength 10.3/20 · Lead over its industry n/a · Lead over NIFTY 500 2% · 1 year -15.2% · 25% evidence · 8 of 12 weeks ahead Exact sum: 19.2 + 18.5 + 4.9 + 10.3 = 52.9 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 9. [Lemon Tree Hotels Ltd](https://www.sectoralpha.in/stocks/lemon-tree-hotels-ltd) LEMONTREE · turning · Too little evidence to rank firmly · 56% evidence 52.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.9/35 · Revenue 10.4% · Profit 9.6% · Operating margin change -1 points · 83% evidence Capital efficiency 16.4/25 · ROCE 14.1% · Operating margin 43% · 76% evidence Valuation 9.4/20 · P/E 33.8× · PEG n/a · 15% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -5.8% · 1 year -33.9% · 25% evidence · 2 of 12 weeks ahead Exact sum: 17.9 + 16.4 + 9.4 + 8.4 = 52.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [Travel Food Services Ltd](https://www.sectoralpha.in/stocks/travel-food-services-ltd) TRAVELFOOD · quiet · Evidence leans up · 71% evidence 51.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue 4.4% · Profit 17.4% · Operating margin change -3 points · 83% evidence Capital efficiency 21.3/25 · ROCE 42.4% · Operating margin 36% · 76% evidence Valuation 9.8/20 · P/E 31.9× · PEG n/a · 15% evidence Relative strength 4.8/20 · Lead over its industry -7.3% · Lead over NIFTY 500 -2.5% · 1 year -12.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 15.8 + 21.3 + 9.8 + 4.8 = 51.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Juniper Hotels Ltd](https://www.sectoralpha.in/stocks/juniper-hotels-ltd) JUNIPER · breaking out · Evidence leans down · 89% evidence 49.9 out of 100 Growth Capital Valuation Relative
12. [Benares Hotels Ltd](https://www.sectoralpha.in/stocks/benares-hotels-ltd) BENARAS · breaking out · Evidence leans down · 85% evidence 48.0 out of 100 Growth Capital Valuation Relative
13. [EIH Ltd](https://www.sectoralpha.in/stocks/eih-ltd) EIHOTEL · quiet · Evidence leans down · 78% evidence 48.0 out of 100 Growth Capital Valuation Relative
14. [Kamat Hotels (India) Ltd](https://www.sectoralpha.in/stocks/kamat-hotels-indialtd) KAMATHOTEL · breaking out · Evidence leans down · 71% evidence 47.9 out of 100 Growth Capital Valuation Relative
15. [Advent Hotels International Ltd](https://www.sectoralpha.in/stocks/advent-hotels-international-ltd) ADVENTHTL · quiet · Too little evidence to rank firmly · 51% evidence 45.7 out of 100 Growth Capital Valuation Relative
16. [Samhi Hotels Ltd](https://www.sectoralpha.in/stocks/samhi-hotels-ltd) SAMHI · quiet · Evidence leans down · 79% evidence 45.6 out of 100 Growth Capital Valuation Relative
17. [Royal Orchid Hotels Ltd](https://www.sectoralpha.in/stocks/royal-orchid-hotels-ltd) ROHLTD · quiet · Evidence leans down · 81% evidence 45.3 out of 100 Growth Capital Valuation Relative
18. [Ventive Hospitality Ltd](https://www.sectoralpha.in/stocks/ventive-hospitality-ltd) VENTIVE · quiet · Evidence leans down · 71% evidence 44.1 out of 100 Growth Capital Valuation Relative
19. [Sayaji Hotels Ltd](https://www.sectoralpha.in/stocks/sayaji-hotels-ltd) SAYAJIHOTL · leader · Too little evidence to rank firmly · 56% evidence 43.2 out of 100 Growth Capital Valuation Relative
20. [EIH Associated Hotels Ltd](https://www.sectoralpha.in/stocks/eih-associated-hotels-ltd) EIHAHOTELS · basing · Evidence leans down · 96% evidence 40.7 out of 100 Growth Capital Valuation Relative
21. [U P Hotels Ltd](https://www.sectoralpha.in/stocks/u-p-hotels-ltd) UPHOT · breaking out · Evidence leans down · 81% evidence 39.8 out of 100 Growth Capital Valuation Relative
22. [Apeejay Surrendra Park Hotels Ltd](https://www.sectoralpha.in/stocks/apeejay-surrendra-park-hotels-ltd) PARKHOTELS · quiet · Most evidence points down · 81% evidence 34.9 out of 100 Growth Capital Valuation Relative
23. [Asian Hotels (North) Ltd](https://www.sectoralpha.in/stocks/asian-hotels-northltd) ASIANHOTNR · breaking out · Too little evidence to rank firmly · 56% evidence 34.9 out of 100 Growth Capital Valuation Relative
24. [HLV Ltd](https://www.sectoralpha.in/stocks/hlv-ltd) HLVLTD · Too little evidence to rank firmly · 48% evidence 39.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Hotels](https://www.sectoralpha.in/sectors/hotels), all 24 compared on one page. ## Which companies are close to Indian Hotels Co in size? Indian Hotels Co is the largest of 24 Hotels companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: ITC Hotels, Leela Palaces Hotels & Resorts, EIH, Chalet Hotels, Travel Food Services and Ventive Hospitality. ### Hotels companies close in size

1. Indian Hotels Co Ltd ₹1,15,533 crore
2. [ITC Hotels Ltd](https://www.sectoralpha.in/stocks/itc-hotels-ltd) ₹34,825 crore
3. [Leela Palaces Hotels & Resorts Ltd](https://www.sectoralpha.in/stocks/leela-palaces-hotels-resorts-ltd) ₹21,181 crore
4. [EIH Ltd](https://www.sectoralpha.in/stocks/eih-ltd) ₹17,907 crore
5. [Chalet Hotels Ltd](https://www.sectoralpha.in/stocks/chalet-hotels-ltd) ₹17,643 crore
6. [Travel Food Services Ltd](https://www.sectoralpha.in/stocks/travel-food-services-ltd) ₹15,180 crore
7. [Ventive Hospitality Ltd](https://www.sectoralpha.in/stocks/ventive-hospitality-ltd) ₹12,414 crore

[All 24 Hotels companies, largest first](https://www.sectoralpha.in/sectors/hotels#all-companies)

### Companies close in size in other industries

1. [Polycab India Ltd](https://www.sectoralpha.in/stocks/polycab-india-ltd) ₹1,17,355 crore · Cables - Power
2. [Indian Bank](https://www.sectoralpha.in/stocks/indian-bank) ₹1,16,580 crore · Banks - PSU
3. Indian Hotels Co Ltd ₹1,15,533 crore
4. [HDFC Life Insurance Company Ltd](https://www.sectoralpha.in/stocks/hdfc-life-insurance-company-ltd) ₹1,14,039 crore · Finance - Insurance
5. [Bajaj Holdings & Investment Ltd](https://www.sectoralpha.in/stocks/bajaj-holdings-investment-ltd) ₹1,13,705 crore · Finance - Holding Company

## What else do people ask about Indian Hotels Co? ### What is Indian Hotels Co's share price today? Indian Hotels Co Ltd's share price is ₹836.05, +12.7% over the past year. The whole company is worth ₹1,18,955 Cr on the market. It is at its highest price of the past 52 weeks (range ₹583 to ₹836), 16.8% above its 200-day average. The price has been rising for 15 weeks (as of 3 November 2026). ### What were Indian Hotels Co's latest quarterly results? Indian Hotels Co Ltd reported revenue of ₹2,484 Cr and net profit of ₹380 Cr for the Sep 2026 quarter. Revenue rose 21.7% and profit rose 19.5% compared with a year earlier. Earnings per share were ₹2.46. The operating margin was 28.0%, 0.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Indian Hotels Co's market cap? Indian Hotels Co Ltd's market capitalisation is ₹1,18,955 Cr at a share price of ₹836.05. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Indian Hotels Co performing? Indian Hotels Co Ltd's share price has been rising for 15 weeks. In its latest quarter, revenue rose 21.7% and profit rose 19.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will Indian Hotels Co's share price go up? This page does not forecast Indian Hotels Co Ltd's share price. What it shows instead: the share price is ₹836.05, and it has been rising for 15 weeks. Its P/E of 59.2× is higher than 35% of its own last 8 years (as of 3 November 2026). ### Where is Indian Hotels Co in its business cycle? Indian Hotels Co Ltd's FY26 operating margin was 33.0%, against a 13-year range of −23.0% to 33.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 28.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Indian Hotels Co story? The main question: foreign institutions moved −5.3 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Indian Hotels Co a stock worth studying right now? What the numbers show: Indian Hotels Co Ltd's results are improving, while its P/E is near the low end of its own history over 8.4 years, higher than only 35% of past readings. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Indian Hotels Co share price forecast for 2026? What management itself guided: FY27 consolidated revenue growth 15%-17%, including hotel-segment growth of 17%-19%. What is changing at Indian Hotels Co, from the latest results and calls: capital-light model structural fee lift, ginger and new brands scale and domestic demand substitution. What would change the story: If July to September 2026 like-for-like RevPAR growth delivers at or above 9% alongside sequential operating margin stability at 35% or above for two consecutive quarters, with management attributing the sustained margin explicitly to structural fee income rather than seasonal occupancy pricing, the mid-cycle mean-reversion case would need to be revised. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Breakout stocks: https://www.sectoralpha.in/breakout-stocks-india
- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Hotel stocks: https://www.sectoralpha.in/sectors/hotels

This is research, not advice. We’re not SEBI-registered.