Consumer Cyclical
Ihcl Reports Q4 and Full Year Fy 2025-26 Results
The Indian Hotels Company Limited (IHCL) reports its consolidated financials for Q4 and full year FY 2025-26, marking sixteenth consecutive record quarter.
The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for fourth quarter and full year ending March 31st, 2026. Mr. Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q4 FY2026 marks sixteenth consecutive quarter of record performance with a Consolidated revenue of INR 2,845 crores, a 14% growth over the previous year, EBITDA of INR 1,052 crores and an EBITDA margin of 37%. For FY2026, the company delivered on its guidance of double-digit revenue growth despite macro-headwinds with revenue of INR 9,971 crores, a growth of 16% leading to an all-time high EBITDA of INR 3,477 crores, EBITDA margin of 34.9% resulting in the best ever PAT of INR 2,084 crores.”
Diversified Business Model Across Brands and Geography
Mr. Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “For FY2026, IHCL Standalone reported a revenue of INR 5,640 crores, driven by RevPAR growth of 12% in Q4, clocking a strong EBITDA margin of 45.1%, an expansion of 120 basis points and a PAT of INR 2,012 crores. IHCL Consolidated clocked a double-digit revenue growth this fiscal reflective of a broad-based performance – led by RevPAR growth of 9% from same store hotels, 16% in airline and institutional catering, 25% in New Businesses and 22% in management fee.
Key Financial Highlights
Consolidated same store hotels delivered a 9% RevPAR growth. Domestic same store hotels delivered a RevPAR Premium of 73%. Management Fee income grew by 22% to INR 685 crores on the back of not like for like growth.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of The Indian Hotels Company Limited
The Indian Hotels Company Limited belongs to the Consumer Cyclical › Lodging sector. Here’s a quick read on where the business and the stock stand today.
The moves sideways over three months, with neither buyers nor sellers taking control. Premium net margins of 20.9% demonstrate strong cost discipline and a wide competitive moat. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gains 3.1% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 40.2% and profits at 0.0% CAGR — a genuinely strong business. Nevertheless, the stock drops 5.9% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of The Indian Hotels Company Limited.
BIL
Bhartiya International Limited (BIL) Q2 FY27: Robust Revenue Growth Accompanied by Strong PAT Expansion
Bhartiya International Limited (BIL) reports strong Q2 FY27 results with revenue up 26.9% YoY and PAT more than doubling.
Bhartiya International Limited (BIL) has reported impressive financial results for Q2 FY27, showcasing robust revenue growth and a significant expansion in profit after tax (PAT). The company’s revenue for the quarter stood at Rs. 507 crore, marking a 26.9% year-over-year (YoY) increase. This growth is attributed to a better product mix, disciplined cost management, and efficient utilization of higher capacity.
Strong Financial Performance
The PAT for Q2 FY27 surged by 72.8% YoY to Rs. 25 crore, while profit before tax (PBT) jumped 65.3% to Rs. 34 crore. The EBITDA margin remained flat at 10.0%, reflecting the company’s operational efficiency. The company’s revenue mix continues to be anchored by its outerwear segment, which contributes 65% to the total revenue, followed by bags and accessories at 18%.
Half-Year Financial Highlights
For the first half of FY27, revenue grew by 29.5% YoY to Rs. 880 crore, and PAT increased by 94.7% to Rs. 42 crore. The EBITDA margin was also flat at 9.9%. The company’s net working capital reduced by 24 days to 185 days, and the net debt-to-equity ratio improved to 0.9x. The return on capital employed (ROCE) expanded by 320 basis points to 12.7%.
Bhartiya International Limited continues to reinforce its position as a trusted strategic manufacturing partner to leading international brands, with strong traction in marquee global customer programs and sustained momentum in the core business.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Bhartiya International Limited
Bhartiya International Limited belongs to the Consumer Cyclical › Footwear & Accessories sector. Here’s a quick read on where the business and the stock stand today.
Bhartiya gains 41.0% over three months and trades near its 52-week highs. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. No meaningful dividend — total return is entirely dependent on capital appreciation. RSI hits 75, a level that signals the stock runs hot. Notably, buyers drove volume on 15 recent sessions — though at these levels, some profit-taking is normal. The stock rises 41.0% in three months. Yet revenue grows at only 19.0% and the PEG stands at 99.00. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of Bhartiya International Limited.
Consumer Cyclical
Viceroy Hotels Limited (vhltd) H1 FY27: Ebitda Up 81%, PAT Rises 2.7x
Viceroy Hotels Limited (VHLTD) reports strong H1 FY27 results with EBITDA up 81%, PAT rising 2.7x, and consolidated income growing 61%.
Viceroy Hotels Limited (VHLTD) has reported impressive key business highlights for the first half of FY27. The company’s consolidated total income grew 61%, EBITDA surged 81%, and profit after tax (PAT) rose 2.7 times compared to H1 FY26. The EBITDA margin expanded by 286 basis points, reflecting strong operational performance. Standalone revenue from operations, driven by the two Hyderabad hotels, increased 20.7% year-on-year to ₹67.81 crore in H1 FY27.
Strong Financial Performance
The completion of a ₹105.83 crore rights issue in September 2026 has significantly strengthened the balance sheet. As of September 30, 2026, the company’s net worth stood at ₹375.90 crore, up from ₹266.80 crore on March 31, 2026. Cash and current investments increased to ₹125.55 crore, and the debt-to-equity ratio improved to 0.70x from 0.99x.
Strategic Growth Initiatives
Following a Novation Agreement executed on September 29, 2026, Marriott Executive Apartments now operates under the Viceroy Hotels Limited brand. The upgraded convention centre and rooms at Marriott Hyderabad, along with the new Courtyard by Marriott at Madhapur, are expected to further enhance the company’s capacity to meet growing demand in Hyderabad.
Mr. Ravinder Reddy Kondareddy, Managing Director & CEO of Viceroy Hotels Limited, remarked, ‘H1 FY27 has been a strong half for Viceroy Hotels. We look ahead with confidence as we continue to expand our presence in key Indian markets.’ With a focus on business, leisure, luxury, and destination travel segments, Viceroy Hotels Limited is poised for sustained growth in the coming quarters.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Viceroy Hotels Limited
Viceroy Hotels Limited belongs to the Consumer Cyclical › Lodging sector. Here’s a quick read on where the business and the stock stand today.
Viceroy posts a 14.4% three-month gain, but softens in the last few weeks. No meaningful dividend — total return is entirely dependent on capital appreciation. Revenue grows at only 6.7% and profits at 0.0% CAGR. In effect, the business treads water. Buyers show up with 2.0x the volume of sellers. Moreover, they dominated on 18 of recent sessions versus 12 for sellers — a healthy accumulation pattern. Revenue grows at 6.7% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Viceroy Hotels Limited.
Auto Manufacturers
Tvs Motor Company Expands Brazil Operations and Reinforces Long-term Commitment
TVS Motor Company (TVSMOTOR) expands its operations in Brazil with a new flagship store and plans to increase production capacity to 130,000 units by 2027.
TVS Motor Company (TVSM), part of TVS VENU, the world’s third-largest two-wheeler manufacturer, today announced the next phase of its growth in Brazil, supported by increased production capacity, an expanding retail footprint, and a significant nationwide after-sales and service network. The opening of the company’s first Flagship Store in São Paulo provides a visible customer-facing proof point of this broader, long-term commitment to the Brazilian market.
New São Paulo Flagship Store
The first TVS Motor Flagship Store opens at Avenida dos Bandeirantes, 1747, Vila Olímpia, São Paulo. This new location is designed to bring the brand closer to Brazilian consumers by combining product displays, technology, and brand experience in a single environment.
Expansion Plans and Partnerships
TVS Motor’s operations in Brazil currently have an annual production capacity of approximately 110,000 units in 2026, with plans to increase capacity to 130,000 units by 2027. The planned expansion is intended to support the company’s growing commercial presence and its long-term ambition to build a sustainable business in one of the world’s leading motorcycle markets. In partnership with Mottu, TVS Motor plans to renovate existing locations and open new exclusive dealerships, initially focusing on the Southeast and Central-West regions. Three new stores are planned during 2027, bringing the brand and its portfolio closer to customers.
Through the partnership with Mottu, TVS Motor has access to a network of more than 500 points of sale and 168 service locations across Brazil. Locations authorized to service TVS models will have specialized technical teams trained by the manufacturer, supported by local spare-parts availability.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of TVS Motor Company Limited
TVS Motor Company Limited belongs to the Consumer Cyclical › Auto Manufacturers sector. Here’s a quick read on where the business and the stock stand today.
TVS posts a 7.4% three-month gain, but softens in the last few weeks. D/E reaches 3.03. High leverage in this environment is a material risk the market cannot ignore. Thin margins at 5.7% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock gives back 2.3% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 20.2% and profits at 31.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of TVS Motor Company Limited.
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