TajGVK Hotels & Resorts Ltd

TajGVK Hotels & Resorts Ltd

₹ 376 0.72%
24 Apr 3:03 p.m.
About

TajGVK Hotels & Resorts Limited, incorporated in 1995, is a joint venture between the Hyderabad-based GVK Group and Indian Hotels Company Limited (IHCL). The Company is engaged in the business of owning, operating & managing hotels, palaces, and resorts under the brand name of “TAJ[1][2]

Key Points

Hotel Portfolio[1]
The Company owns & operates 3 five-star hotels in Hyderabad and 1 five-star hotel each in the cities of Chennai, Chandigarh and 1 five-star luxury hotel in Mumbai through a joint venture company i.e Green Woods Palaces and Resorts Pvt Ltd.

  • Market Cap 2,357 Cr.
  • Current Price 376
  • High / Low 414 / 208
  • Stock P/E 29.2
  • Book Value 77.5
  • Dividend Yield 0.00 %
  • ROCE 22.5 %
  • ROE 22.5 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 35.5% CAGR over last 5 years

Cons

  • Stock is trading at 4.86 times its book value
  • The company has delivered a poor sales growth of 5.88% over past five years.
  • Company has a low return on equity of 4.74% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
36 44 25 56 82 64 86 89 105 104 92 89 111
26 39 28 42 53 51 56 58 72 78 65 68 71
Operating Profit 10 5 -4 14 29 13 30 31 33 25 26 22 40
OPM % 28% 11% -15% 24% 35% 20% 35% 35% 31% 24% 29% 24% 36%
0 2 0 0 0 1 1 25 0 3 0 1 1
Interest 5 5 5 5 4 5 4 4 4 4 3 3 3
Depreciation 4 4 4 4 4 4 4 4 4 4 4 4 3
Profit before tax 1 -2 -12 5 20 5 23 48 26 21 19 16 35
Tax % 26% 32% 27% 29% 39% 49% 30% 34% 33% 30% 32% 30% 30%
-1 -5 -13 1 12 2 19 34 22 19 16 14 31
EPS in Rs -0.21 -0.77 -2.07 0.19 1.90 0.32 3.05 5.36 3.45 3.04 2.63 2.27 4.91
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
189 270 264 288 317 313 94 227 384 396
105 207 206 217 248 238 96 175 265 282
Operating Profit 84 63 58 72 69 74 -2 52 119 114
OPM % 45% 23% 22% 25% 22% 24% -2% 23% 31% 29%
1 2 8 3 7 1 3 1 29 5
Interest 4 31 29 25 22 23 20 19 15 13
Depreciation 11 18 18 17 17 17 17 16 15 14
Profit before tax 70 15 19 32 38 36 -36 19 118 91
Tax % 34% 46% 44% 34% 36% 34% 27% 47% 32%
46 4 4 20 27 28 -40 2 93 81
EPS in Rs 7.38 0.57 0.67 3.25 4.34 4.48 -6.37 0.33 14.88 12.85
Dividend Payout % 27% 70% 59% 18% 14% 0% 0% 0% 7%
Compounded Sales Growth
10 Years: %
5 Years: 6%
3 Years: 7%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 36%
3 Years: 49%
TTM: 6%
Stock Price CAGR
10 Years: 18%
5 Years: 11%
3 Years: 53%
1 Year: 71%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 5%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 13 13 13 13 13 13 13 13 13 13
Reserves 139 338 339 357 379 394 355 356 449 473
86 270 255 227 197 209 225 214 141 127
57 106 121 140 122 122 113 123 155 162
Total Liabilities 294 726 727 736 711 738 705 705 758 775
205 454 440 427 416 436 423 409 455 448
CWIP 49 70 77 81 92 91 87 86 43 60
Investments 0 105 99 99 102 106 92 84 97 104
40 96 111 130 101 106 102 127 162 163
Total Assets 294 726 727 736 711 738 705 705 758 775

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
61 62 61 75 59 75 5 53 100
-51 -17 -11 -8 -16 -3 -0 1 -17
3 -45 -47 -55 -56 -66 -2 -31 -79
Net Cash Flow 13 0 2 11 -13 6 3 23 4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 14 18 16 24 21 18 37 15 22
Inventory Days 61 106 99 79 90 228 107 77
Days Payable 545 565 721 453 490 1,580 784 703
Cash Conversion Cycle -470 18 -443 -597 -353 -382 -1,316 -662 -605
Working Capital Days -55 -41 -66 -79 -60 -48 -95 -42 -4
ROCE % 7% 9% 10% 10% -3% 6% 22%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.98% 74.98%
0.00% 0.05% 0.45% 0.40% 0.25% 0.40% 0.52% 0.33% 0.93% 0.94% 0.80% 0.70%
2.01% 0.84% 1.83% 2.12% 3.24% 3.58% 4.42% 4.22% 4.27% 3.60% 3.46% 2.96%
23.01% 24.12% 22.73% 22.49% 21.53% 21.03% 20.08% 20.44% 19.80% 20.47% 20.75% 21.34%
No. of Shareholders 57,64658,53564,03861,40562,65761,49059,90360,80661,20166,23567,31477,579

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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