Key Quantitative Figures

  • Consolidated Q2 FY2027 Results: Revenue from operations: INR 3,052.06 million; Net profit attributable to owners: INR 182.50 million; EPS: INR 1.12 (basic and diluted)
  • Standalone Q2 FY2027 Results: Revenue from operations: INR 4,419.34 million; Net profit: INR 12.18 million; EPS: INR 0.03 (basic and diluted)
  • Authorized Capital Increase: From INR 25,00,00,000 to INR 29,00,00,000
  • Fundraising Approval: Up to INR 750,00,00,000
  • Acquisition Cost: INR 12,00,00,000 for 100% of Itmenaan Lodges with total investment not exceeding INR 25,00,00,000

Dates of Action

  • Board Meeting: 03 August 2026 (commenced 04:30 PM IST, concluded 06:58 PM IST)
  • Annual General Meeting: Scheduled for Monday, 31 August 2026
  • Acquisition Completion: By 30 August 2026
  • RARE India acquisition: 22 April 2026 (55% partnership interest acquired)
  • Clean Max Nile acquisition: 22 May 2026

Parties Involved

  • Target Company: Itmenaan Lodges Private Limited (CIN: U74999DL2011PTC212592)
  • Auditors: Walker Chandiok & Co LLP (Firm Registration No.: 001076N/N500013)
  • Regulators: BSE Limited, National Stock Exchange of India, SEBI

Financial Impact

Capital Structure Impact:

  • Authorized share capital increase from 25 crore equity shares to 29 crore equity shares of INR 1 each
  • Potential dilution from proposed fundraising of up to INR 750 crore through various instruments

Acquisition Impact:

  • Acquisition of 29,582 equity shares (100% stake) in Itmenaan Lodges Private Limited
  • Total investment including capex not exceeding INR 25 crore

Operational Impact:

  • Company planning strong capital expenditure cycle to add significant room inventory
  • Strong internal accruals visibility but seeking stronger balance sheet for growth opportunities

Forward-Looking Commentary

  • Company has planned strong capital expenditure cycle to add significant room inventory in next few years
  • Continues to see attractive acquisition/growth opportunities
  • Prepared to operate in increasingly volatile geo-political environment
  • Strong visibility of internal accruals, but stronger balance sheet would help strengthen position and grow rapidly
  • Timing and terms of fund infusion dependent on prevailing market conditions

Additional Financial Details

Itmenaan Lodges Financials:

  • FY2025-26 Total Income: INR 69,76,266
  • FY2024-25 Total Income: INR 85,75,908
  • FY2023-24 Total Income: INR 88,99,955

Exceptional Items (Standalone):

  • Year ended 31 March 2026: INR 249.077 million (primarily reversal of impairment of investment in subsidiary)
  • Quarter ended 30 June 2025: INR 974.93 million (profit on sale of investment)

Subsidiary Information:

Consolidated results include 18 subsidiaries including Argon Hotels, Ascent Hotels, Barque Hotels, Caspia Hotels, Paulmech Hospitality, SAMHI JV Business Hotels, and various Duet India Hotels entities

Governance

  • Results reviewed by Audit Committee on 31 July 2026
  • Approved by Board of Directors on 03 August 2026
  • Limited Review conducted by Statutory Auditors