Capitaline

Results 25-May-24

Analysis

EIH Associated Hotels

Strong growth

Standalone net sales (including other operating income) of EIH Associated Hotels has increased 22.88% to Rs 132.50 crore. Operating profit margin has jumped from 29.81% to 37.78%, leading to 55.76% rise in operating profit to Rs 50.06 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 7.34% to 6.45%. Employee cost decreased from 14.24% to 14.18%. Other expenses fell from 48.63% to 41.58%.

Other income up 41.04% to Rs 3.78 crore. PBIDT rose 54.62% to Rs 53.84 crore. Provision for interest up 25% to Rs 0.1 crore. Loan funds declined from Rs 5.02 crore as of 31 March 2023 to Rs 4.04 crore as of 31 March 2024. Inventories declined from Rs 14.78 crore as of 31 March 2023 to Rs 14.46 crore as of 31 March 2024. Sundry debtors were higher at Rs 22.31 crore as of 31 March 2024 compared to Rs 16.01 crore as of 31 March 2023. Cash and bank balance rose to Rs 39.74 crore as of 31 March 2024 from Rs 18.90 crore as of 31 March 2023. Investments rose to Rs 153.22 crore as of 31 March 2024 from Rs 139.53 crore as of 31 March 2023 .

PBDT rose 54.69% to Rs 53.74 crore. Provision for depreciation rose 6.68% to Rs 4.31 crore. Fixed assets increased to Rs 309.96 crore as of 31 March 2024 from Rs 287.56 crore as of 31 March 2023. Intangible assets declined from Rs 0.23 crore to Rs 0.06 crore.

Profit before tax grew 61.01% to Rs 49.43 crore. Provision for tax was expense of Rs 12.62 crore, compared to Rs 4.53 crore. Effective tax rate was 25.53% compared to 14.76%.

Profit after tax rose 40.66% to Rs 36.81 crore.

Equity capital stood at Rs 30.47 crore as of 31 March 2024 to Rs 30.47 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .

Full year results analysis

Net sales (including other operating income) of EIH Associated Hotels has increased 14.16% to Rs 384.79 crore. Operating profit margin has jumped from 28.10% to 29.44%, leading to 19.63% rise in operating profit to Rs 113.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 8.02% to 7.20%. Employee cost increased from 17.10% to 17.77%. Other expenses fell from 46.79% to 45.59%.

Other income up 85.29% to Rs 13.1 crore. PBIDT rose 24.19% to Rs 126.4 crore. Provision for interest up 105.13% to Rs 0.8 crore. Loan funds declined from Rs 5.02 crore as of 31 March 2023 to Rs 4.04 crore as of 31 March 2024. Inventories declined from Rs 14.78 crore as of 31 March 2023 to Rs 14.46 crore as of 31 March 2024. Sundry debtors were higher at Rs 22.31 crore as of 31 March 2024 compared to Rs 16.01 crore as of 31 March 2023. Cash and bank balance rose to Rs 39.74 crore as of 31 March 2024 from Rs 18.90 crore as of 31 March 2023. Investments rose to Rs 153.22 crore as of 31 March 2024 from Rs 139.53 crore as of 31 March 2023 .

PBDT rose 23.88% to Rs 125.6 crore. Provision for depreciation rose 1.93% to Rs 16.86 crore. Fixed assets increased to Rs 309.96 crore as of 31 March 2024 from Rs 287.56 crore as of 31 March 2023. Intangible assets declined from Rs 0.23 crore to Rs 0.06 crore.

Profit before tax grew 28.16% to Rs 108.74 crore. Provision for tax was expense of Rs 27.71 crore, compared to Rs 20.23 crore. Effective tax rate was 25.48% compared to 23.84%.

Profit after tax rose 25.39% to Rs 81.03 crore.

Equity capital stood at Rs 30.47 crore as of 31 March 2024 to Rs 30.47 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .

Cash flow from operating activities decreased to Rs 77.53 crore for year ended March 2024 from Rs 91.23 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 37.36 crore, compared to Rs 19.68 crore during the year ended March 2023. .

The scrip trades at Rs 727

EIH Associated Hotels : Standalone Results
Particulars	2403 (03)	2303 (03)	Var.(%)	2403 (12)	2303 (12)	Var.(%)
Net Sales	132.5	107.83	23	384.79	337.07	14
OPM (%)	37.8	29.8		29.4	28.1
OP	50.06	32.14	56	113.3	94.71	20
Other Inc.	3.78	2.68	41	13.1	7.07	85
PBIDT	53.84	34.82	55	126.4	101.78	24
Interest	0.1	0.08	25	0.8	0.39	105
PBDT	53.74	34.74	55	125.6	101.39	24
Depreciation	4.31	4.04	7	16.86	16.54	2
PBT	49.43	30.7	61	108.74	84.85	28
PBT before EO	49.43	30.7	61	108.74	84.85	28
EO Income	0	0		0	0
PBT after EO	49.43	30.7	61	108.74	84.85	28
Taxation	12.62	4.53	179	27.71	20.23	37
PAT	36.81	26.17	41	81.03	64.62	25
EPS (Rs)*	#	#		26.6	21.2
Notes
* EPS is on current equity of Rs 30.47 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

EIH Associated Hotels standalone net profit rises 854.72% in the September 2019 quarter
( Results - Announcements 05-Nov-19 10:58 )

EIH Associated Hotels reports standalone net profit of Rs 2.60 crore in the September 2022 quarter
( Results - Announcements 01-Nov-22 16:14 )

EIH Associated Hotels reports standalone net loss of Rs 0.95 crore in the March 2021 quarter
( Results - Announcements 05-May-21 08:17 )

EIH Associated Hotels to conduct board meeting
( Corporate News - 18-Jun-20 12:36 )

EIH Associated Hotels reports net loss of Rs 3.64 crore in the September 2011 quarter
( Results - Announcements 01-Nov-11 17:20 )

EIH Associated Hotels to announce Quarterly Result
( Corporate News - 26-Oct-23 15:26 )

EIH Associated Hotels standalone net profit rises 18.19% in the March 2019 quarter
( Results - Announcements 29-May-19 16:26 )

EIH Associated Hotels standalone net profit declines 5.29% in the June 2019 quarter
( Results - Announcements 31-Jul-19 08:23 )

EIH Associated Hotels reports standalone net loss of Rs 10.74 crore in the September 2020 quarter
( Results - Announcements 04-Nov-20 08:08 )

EIH Associated Hotels reports net loss of Rs 1.79 crore in the June 2010 quarter
( Results - Announcements 30-Jul-10 17:15 )

EIH Associated Hotels reports net loss of Rs 3.69 crore in the September 2010 quarter
( Results - Announcements 29-Oct-10 21:14 )