ITCHOTELSConsumer Services

ITC Hotels Limited

Hotels & Resorts · ISIN INE379A01028 · BSE 544325 · NSE EQ · FV ₹1
Last price
₹173
+1.32%today
What this company does

ITC Hotels Limited operates in Hotels & Resorts, part of the Consumer Services sector. It booked ₹1,054 cr of revenue in its latest quarter (Q2 FY27) and kept 19.1% of sales as profit. It is the 2nd largest of 9 Hotels & Resorts companies we track, by market value.

In the report:
62out of 100
Equitytale Health Score
Mixed

Healthier than 62% of companies in Consumer Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 32–46 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
62

At close. Not part of the score.

Profitability & returns44

How much profit it earns on the money it employs

Balance sheet89

How much it owes, and whether earnings cover the interest

Cash quality42

Whether reported profit actually arrives as cash

Valuation63

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 19% net margin
✓ Sales up 26% vs last year
✓ Profit up 51% vs last year
✓ No promoter shares pledged
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
! Low 6.8% return on equity

What if I invest in ITCHOTELS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from a generic assumption, not this company's history. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹173▲ +1.32%
latest close · 2026-11-04
52-wk low ₹15074 sessions so far52-wk high ₹174
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio44.7High
LowAverageHigh
P/B ratio3.08High
Below bookModerateHigh
EV / EBITDA23.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity6.8%Weak
WeakFairStrong ▸15%
Return on capital8.9%Fair
WeakFairStrong
Net margin19.1%Strong
ThinDecentStrong
EBITDA margin36.9%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover126.4×Strong
RiskyOkayStrong ▸5×
Current ratio2.80Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹36,098 cr
Book value
₹56
EPS
₹0.97
latest quarter
Net debt
₹-25 cr
more cash than debt
Enterprise value
₹36,073 cr
EBITDA
₹1,557 cr
annualised
EBIT
₹1,108 cr
annualised
Operating margin
26.3%
Return on assets
5.9%
Earnings yield
2.24%
P/S
8.56
Sales / share
₹20.2
Tax rate
27.4%
Face value
₹1
Shares
208.3 cr
Working capital
₹2,211 cr
Current assets
₹3,437 cr
Current liabilities
₹1,226 cr
Delivery %
49.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹25–₹62, midpoint ₹39

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,054 cr
Other Income₹52 cr
Total Income₹1,106 cr
Cost of Materials₹134 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹207 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹112 cr
Other Expenses₹376 cr
Total Expenses₹831 cr
Profit before Tax₹275 cr
Tax Expense₹75 cr
Share of JV / Associates₹3 cr
Net Profit₹203 cr
Net margin on total income18.3%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹134 cr12.1%
Employee benefit expense₹207 cr18.6%
Finance costs₹2 cr0.2%
Depreciation & amortisation₹112 cr10.1%
Other expenses₹376 cr33.9%
Tax expense₹75 cr6.8%
Profit for the period₹203 cr18.3%
Total income ₹1,106 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,254 cr936 cr1,054 cr
Total income1,306 cr995 cr1,106 cr
Expenses895 cr750 cr831 cr
Profit before tax415 cr245 cr275 cr
Tax101 cr66 cr75 cr
Net profit (owners' share)316 cr180 cr201 cr
Net margin (owners' share, on revenue)25.2%19.3%19.1%
EPS (₹)1.520.870.97
YoY (latest quarter): total income +25.0% · net profit +51.4%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹13,660 cr
Shareholder equity
₹11,739 cr
parent shareholders
Total debt
₹10 cr
Cash
₹35 cr
Cash flow · H1 FY27
Operating
₹546 cr
Investing
₹-227 cr
Financing
₹-318 cr
Peer comparison
Hotels & Resorts · by market value
CompanyPriceMarket capP/E
The Indian Hotels Company Limited₹836₹1.19 L cr85.0
ITC Hotels Limitedthis company₹171₹35,627 cr44.1
Leela Palaces Hotels & Resorts Limited₹653₹21,802 cr57.7
EIH Limited₹294₹18,388 cr39.3
Chalet Hotels Limited₹811₹17,751 cr51.6
Ventive Hospitality Limited₹529₹12,357 cr132.3
Lemon Tree Hotels Limited₹114₹9,048 cr49.3
India Tourism Development Corporation Limited₹611₹5,241 cr138.9
Juniper Hotels Limited₹200₹4,448 cr33.5
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.58%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 21 May 2026
ActionDetailEx-date
Dividend₹1 / share21 May 2026
Who owns it · 2026-09-30
No pledge
Promoter
39.9%
FII / Foreign
11.6%
DII / Domestic
23.6%
Retail / others
25.0%
Smart-money activity
Bulk / block deals
short— · NSE127 Oct 26
short— · NSE23,9207 Oct 26
short— · NSE4225 Oct 26
Stake changes
SoldMyddleton Investment company Ltd,→ 0.00% · 4.86 cr5 Dec 25
SoldTobacco Manufacturers (India) Limited→ 6.28% · 12.34 cr5 Dec 25
SoldRothmas International Enterprises ltd→ 0.00% · 1.55 cr5 Dec 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 18 Dec 2025
See the official result
1
Granting, offering and issuing Equity Settled Stock Appreciation Rights to the eligible employees of the Company under an Employee Stock Appreciation Rights Scheme.
Backed by 100% of shareholders other than promotersneeded 75%
90.80 cr votes for, 23.73 L against · 0% of mutual funds and other big investors said no
2
Granting, offering and issuing Equity Settled Stock Appreciation Rights to the eligible employees of the subsidiary companies of the Company under an Employee Stock Appreciation Rights Scheme.
Backed by 100% of shareholders other than promotersneeded 75%
90.89 cr votes for, 14.83 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 40 named members
owning 39.9% between them · as of 2026-09-30
ITC LIMITED39.85%
Ample Foods Private Limitedno shares
Blazeclan Europe SRL.no shares
Blazeclan Technologies Corporationno shares
Blazeclan Technologies PTE Limitedno shares
Blazeclan Technologies SDN. BHD.no shares
Fyve Elements LLCno shares
Gold Flake Corporation Limitedno shares
Business done with them
FY2026 · 1 of the group
The company paid ₹145 cr to companies in the promoter group last year — about 3.5% of its ₹4,139 cr revenue and received ₹68 cr back from them.
ITC Limited
Bought goods from them · Sale of Goods/Services,Purchase of Goods/Services,Rent Received,Rent Paid,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments,Recovery of Share Based Payments,Expenses Recovered,Expenses Reimbursed,Issue of equity shares,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments
also owns 39.85% of the company
₹85 cr
company paid
ITC Limited
Sold goods to them · Sale of Goods/Services,Purchase of Goods/Services,Rent Received,Rent Paid,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments,Recovery of Share Based Payments,Expenses Recovered,Expenses Reimbursed,Issue of equity shares,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments
also owns 39.85% of the company
₹62 cr
company received
ITC Limited
Other payments to them · Sale of Goods/Services,Purchase of Goods/Services,Rent Received,Rent Paid,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments,Recovery of Share Based Payments,Expenses Recovered,Expenses Reimbursed,Issue of equity shares,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments
also owns 39.85% of the company
₹60 cr
company paid
ITC Limited
Other income from them · Sale of Goods/Services,Purchase of Goods/Services,Rent Received,Rent Paid,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments,Recovery of Share Based Payments,Expenses Recovered,Expenses Reimbursed,Issue of equity shares,Remuneration of Employees on Deputation reimbursed,Reimbursement of Share Based Payments
also owns 39.85% of the company
₹6 cr
company received

The company also transacted with 10 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.