EIH Limited (EIHOTEL)
Large CapConsumer stocks · Large cap · NSE
EIH Limited operates luxury hotels under 'The Oberoi' and 'Trident' brands, with a widespread presence across India and internationally. The company also manages luxury Nile Cruisers, focusing on premium hospitality experiences.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Good · 57/100Rev +14% YoY · PAT +224% YoY · operating leverage · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹657 Cr | +14.5% | -26.6% |
| EBITDA | ₹167 Cr | +4.4% | -50.0% |
| Operating margin | 25.0% | -300 bps | -1200 bps |
| PAT | ₹120 Cr | +224.3% | -51.8% |
| PAT margin | 18.3% | +1181 bps | -956 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Q4 FY26 consolidated revenue grew 10% YoY to INR 954 Cr, with EBITDA up 1% to INR 393 Cr. Full-year FY26 consolidated revenue rose 8% YoY to INR 3,106 Cr, and EBITDA increased 3% to INR 1,190 Cr. Full-year PAT declined due to higher exceptional items.
EIH Limited delivered resilient FY26 performance with strong rate-led growth, maintaining RevPAR leadership despite Q4 occupancy moderation. The substantial pipeline of owned and managed hotels supports future expansion, though full-year PAT was impacted by exceptional items.
Strong ARR growth
EIH's Q4 FY26 All Domestic Hotels ARR grew to INR 26,536 from INR 23,648 YoY.
RevPAR leadership
EIH maintains consistent RevPAR leadership over STR Competition Set, with 13 of 15 hotels ranked 1st or 2nd.
Luxury & Upper Upscale segment growth
'The Oberoi' and 'Trident' hotels achieved 10.4% and 10.2% FY26 RevPAR growth respectively.
Owned Hotels Development Pipeline
7 properties, 825 keys, including Trident Visakhapatnam (2027), The Oberoi Goa (2028), The Oberoi London (2028), Trident Tirupati (2029), The Oberoi Gandikota (2030), Oberoi Hebbal (2030), Trident Hebbal (2030).
Managed Hotels Development Pipeline
24 properties, 1,893 keys, across Oberoi, Trident, Luxury Boats and Nile Cruiser, with expected openings from 2026 to TBD.
Resilient Hospitality Industry
India’s hospitality sector remained strong in FY26 despite multiple disruptions.
Rate-led growth
Industry delivered strong rate-led growth with ARR growing at ~10% in FY26.
Corporate, weddings and MICE demand
Corporate, weddings and MICE demand remained resilient in Q4 FY26.
Q4 Occupancy Moderation
EIH All Domestic Hotels Occupancy declined to 78% in Q4 FY26 from 82% in Q4 FY25 YoY.
Full-year PAT Impact from Exceptional Items
Full-year FY26 Consolidated PAT declined to INR 657 Cr from INR 770 Cr YoY, impacted by INR 132 Cr exceptional items.
Subdued Q4 Air Traffic Growth
Q4 air traffic growth stayed subdued, with March at ~1% YoY.
Pipeline Project Execution Risks
Pipeline projects are subject to various risks and uncertainties beyond the Company’s control, including market conditions, regulatory changes, and development challenges.
General Business Risks
Forward-looking statements are subject to various risks and uncertainties beyond the Company’s control, including economic developments, competitive pressures, and operational challenges.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The document provides both Q4 (sequential momentum, recent trends) and FY (overall annual performance, less seasonal impact) comparisons, both of which are crucial for assessing a hospitality business.
Q4 FY26 EIH All Domestic Hotels Occupancy
78% (vs 82% in Q4 FY25)
Q4 FY26 EIH All Domestic Hotels ARR
INR 26,536 (vs INR 23,648 in Q4 FY25)
Q4 FY26 EIH All Domestic Hotels RevPAR
INR 20,758 (vs INR 19,286 in Q4 FY25)
FY26 'The Oberoi' Hotels RevPAR Growth
10.4% YoY
Long-term Growth Plans
Healthy liquidity to enable long-term growth plans.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EIH All Domestic Hotels Occupancy | 78% (Q4 FY26) | Recovery from Q4 YoY decline and sustained improvement. |
| Consolidated PAT (ex-exceptional items) | INR 812 Cr (FY26) | Sustained profitability without significant recurrence of exceptional items. |
| Pipeline Commissioning | 31 properties (owned & managed) in pipeline | Timely execution and revenue contribution from new keys. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
30Bearishfull bear SMA stack · SMA20 -10.0% / mo · MACD − · near 52W low
Technical chart
EIHOTELdaily · 1Y · AUTO-10.6%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 41. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~11.2% over last month) — short-term momentum negative.
- RSI(14) at 41 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 33% off 52W high · 8% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is within 7.5% of the 30-week proxy.
- The 30-week proxy changed -1.4% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
Valuation & score drivers
U-Score 53 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 53 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 26.6%.
- Growth contributes 19/25 to the score.
Main drags
- Valuation is weaker at 6/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Quality is weaker at 9/20; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +3 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 75th percentile of the scored universe and 78th percentile within Consumer. Main check: results consistency is weak at 43/100.
Healthy Trust Lite: Promoter pledge is zero. Key concern: 1/4 latest quarters had positive YoY PAT growth.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Consumer: 78th pctile, median 66 · Large: 56th pctile, median 73
100 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
- ▸Debt/equity is 0.05.
- ▸ROCE is 20.7%.
Trust risks
- ▸1/4 latest quarters had positive YoY PAT growth.
- ▸OPM spread across recent quarters is 20%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 25.10
- P/B
- 3.47
- EV/EBITDA
- 15.74
- Market Cap
- 18254.00Cr
Profitability
- ROE
- 14.50%
- ROCE
- 20.70%
- ROA
- 11.32%
- Dividend Y
- 0.51%
Growth (CAGR)
- Revenue 5Y
- 43.00%
- EPS 5Y
- 32.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- 25.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- 44.78×
- Altman Z
- 8.37
- Book Value
- 84.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- 993.00 Cr
- EPS TTM
- 11.38
Shareholding
- Promoter Hold
- 32.85%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 13%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Consumer, ranked by similarity
Peers
Business-comparable names in Consumer, ranked by similarity
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.