EIH Ltd // Hotels

Pros:
Company has good consistent profit growth of 24.25% over 5 years
Company has been maintaining a healthy dividend payout of 42.19%
Cons:
Stock is trading at 3.13 times its book value
The company has delivered a poor growth of 1.71% over past five years.
Company has a low return on equity of 5.91% for last 3 years.
Earnings include an other income of Rs.122.84 Cr.

Peer Comparison

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. EIH 155.10 49.19 8864.74 0.58 9.69
2. Mahindra Holiday 194.85 22.48 2602.30 2.04 13.73 -57.54 234.54 -12.19 30.58
3. Indian Hotels 125.45 170.76 14919.25 0.32 6.10 93.75 979.70 7.52 6.90
4. EIH Assoc.Hotels 301.30 25.73 918.06 1.49 1.89 -52.87 47.35 -8.98 20.47
5. The Byke Hospi. 80.45 9.25 322.59 1.24 5.44 -17.45 36.68 -1.05 30.66
6. TajGVK Hotels 173.15 46.02 1085.68 0.35 4.53 131.12 72.62 22.17 9.30
7. Mac Charles(I) 271.65 15.43 355.86 3.68 5.23 -17.77 19.32 5.29 9.16

Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Operating Profit
OPM %
Other Income
Depreciation
Interest
Profit before tax
Tax
Net Profit

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
1,004 1,162 968 845 1,252 1,407 1,469 1,547 1,669 1,661 1,529 1,599
688 790 768 744 1,025 1,091 1,218 1,220 1,339 1,358 1,306 1,300
Operating Profit 316 372 200 101 227 316 251 327 330 303 223 299
OPM % 32% 32% 21% 12% 18% 22% 17% 21% 20% 18% 15% 19%
Other Income 162 147 247 203 77 53 36 43 29 83 101 123
Interest 115 90 95 110 169 70 72 53 46 28 18 23
Depreciation 60 65 75 88 117 130 141 135 168 133 128 117
Profit before tax 303 363 276 105 19 169 74 182 145 224 178 281
Tax % 34% 38% 39% 33% 168% 28% 37% 39% 54% 36% 34% 30%
Net Profit 197 222 170 66 -5 122 42 107 63 131 103 179
EPS in Rs 4.24 4.72 3.65 1.31 0.00 1.95 0.55 1.69 0.88 2.29 1.80 3.14
Dividend Payout % 28% 32% 28% 71% -1,142% 55% 143% 68% 100% 48% 50% 29%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:3.24%
5 Years:1.71%
3 Years:-1.42%
TTM:4.59%
Compounded Profit Growth
10 Years:-1.79%
5 Years:24.25%
3 Years:41.89%
TTM:42.71%
Return on Equity
10 Years:4.84%
5 Years:5.00%
3 Years:5.91%
TTM:6.61%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
79 79 79 79 114 114 114 114 114 114 114 114
Reserves 793 931 1,096 1,081 2,199 2,248 2,255 2,278 2,275 2,398 2,458 2,768
Borrowings 930 931 1,145 1,436 1,080 558 744 452 418 318 359 502
654 722 745 725 814 823 867 905 955 816 789 726
Total Liabilities 2,456 2,663 3,063 3,321 4,208 3,744 3,980 3,749 3,762 3,646 3,720 4,111
1,338 1,558 1,605 2,206 2,720 2,678 2,802 2,711 2,615 2,230 2,092 2,548
CWIP 378 429 617 310 204 316 230 50 93 115 321 148
Investments 319 251 266 241 116 135 202 247 254 301 288 327
420 425 576 564 1,167 615 746 742 800 999 1,019 1,089
Total Assets 2,456 2,663 3,063 3,321 4,208 3,744 3,980 3,749 3,762 3,646 3,720 4,111

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
214 276 229 78 362 278 207 299 321 231 243 272
-262 -245 -330 -337 -324 -180 -241 -97 -154 -58 -269 -318
36 -53 134 245 560 -666 56 -196 -151 -193 -4 45
Net Cash Flow -12 -23 33 -14 598 -568 22 5 16 -20 -30 -1