Indian Hotels Company Ltd (Taj) (IHCL) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.00%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 21.7%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 14.2%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Verified historical price data is unavailable right now.

50-Day DMA ● Overlay

Not available

200-Day DMA ● Overlay

Not available

14-Day RSI ● Overlay

Not available

Trend Signal

Not available

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.02 Lakh Cr

Mid cap

Stock P/E (TTM) Valuation

52.6x

Price / EPS

Book Value (₹) Assets

₹91.7

P/B: 7.9x

ROE (%) Quality

14.2%

Net Profit / Equity

ROCE (%) Efficiency

17.1%

EBIT / Capital

Dividend Yield Yield

0.45%

Face Value: ₹10

Debt / Equity Solvency

0.22x

Manageable

EPS (TTM) Per Share

₹15.07

Trailing 12M

OPM (%) Spread

33.0%

EBITDA Margin

Free Cash Flow Cash

₹1,444 Cr

CFO - Capex

About Indian Hotels Company Ltd (Taj)

Indian Hotels Company Ltd (Taj) (IHCL) is a leading Indian enterprise operating in the Hospitality & Travel sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 23.8% × Turnover: 0.85x × Leverage: 1.22x = ROE: 14.2%

✓ Company Strengths (Pros)

• Company has maintained a healthy low debt-to-equity ratio of 0.22.
• Delivers solid shareholder returns with an ROE of 14.2%.

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 7.9x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 93% Coverage (14/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹9,987 Cr

Latest PAT

₹2,309 Cr

EPS (TTM)

₹15.07

OPM %

33.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹2,322 Cr	₹2,422 Cr	₹2,547 Cr	₹2,647 Cr
Operating Profit (EBITDA)	₹752.32 Cr	₹794.37 Cr	₹845.50 Cr	₹889.24 Cr
OPM %	32.4%	32.8%	33.2%	33.6%
Interest Expense	₹60.19 Cr	₹63.55 Cr	₹67.64 Cr	₹71.14 Cr
Depreciation	₹90.28 Cr	₹95.32 Cr	₹101.46 Cr	₹106.71 Cr
Profit before Tax (PBT)	₹601.86 Cr	₹635.49 Cr	₹676.40 Cr	₹711.39 Cr
Net Profit (PAT)	₹451.39 Cr	₹476.62 Cr	₹507.30 Cr	₹533.55 Cr
EPS in ₹	₹4.42	₹4.61	₹4.85	₹5.04

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹3,795 Cr	₹4,294 Cr	₹4,894 Cr	₹5,593 Cr	₹6,392 Cr	₹6,891 Cr	₹7,390 Cr	₹8,589 Cr	₹9,288 Cr	₹9,787 Cr	₹9,987 Cr	₹10,386 Cr
Expenses	₹2,611 Cr	₹2,929 Cr	₹3,318 Cr	₹3,736 Cr	₹4,250 Cr	₹4,658 Cr	₹4,863 Cr	₹5,686 Cr	₹6,260 Cr	₹6,557 Cr	₹6,661 Cr	₹6,907 Cr
Operating Profit	₹1,184 Cr	₹1,366 Cr	₹1,576 Cr	₹1,857 Cr	₹2,141 Cr	₹2,233 Cr	₹2,528 Cr	₹2,903 Cr	₹3,028 Cr	₹3,230 Cr	₹3,326 Cr	₹3,479 Cr
OPM %	31.2%	31.8%	32.2%	33.2%	33.5%	32.4%	34.2%	33.8%	32.6%	33%	33.3%	33.5%
Interest	₹82.88 Cr	₹95.59 Cr	₹110.30 Cr	₹129.97 Cr	₹149.88 Cr	₹156.29 Cr	₹176.93 Cr	₹203.21 Cr	₹211.95 Cr	₹226.09 Cr	₹232.80 Cr	₹243.56 Cr
Depreciation	₹142.09 Cr	₹163.87 Cr	₹189.09 Cr	₹222.81 Cr	₹256.95 Cr	₹267.92 Cr	₹303.30 Cr	₹348.36 Cr	₹363.34 Cr	₹387.58 Cr	₹399.08 Cr	₹417.54 Cr
Profit before Tax	₹1,066 Cr	₹1,229 Cr	₹1,418 Cr	₹1,671 Cr	₹1,927 Cr	₹2,009 Cr	₹2,275 Cr	₹2,613 Cr	₹2,725 Cr	₹2,907 Cr	₹2,993 Cr	₹3,132 Cr
Net Profit	₹799.24 Cr	₹921.80 Cr	₹1,064 Cr	₹1,253 Cr	₹1,445 Cr	₹1,507 Cr	₹1,706 Cr	₹1,960 Cr	₹2,044 Cr	₹2,180 Cr	₹2,245 Cr	₹2,349 Cr
EPS in Rs	7.22	8.17	9.32	10.65	12.17	13.12	14.07	16.35	17.68	18.63	19.01	19.77

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹1,073 Cr	₹1,226 Cr	₹1,440 Cr	₹1,686 Cr	₹1,931 Cr	₹2,145 Cr	₹2,329 Cr	₹2,574 Cr	₹2,789 Cr	₹2,973 Cr	₹3,065 Cr
Reserves & Surplus	₹13,944 Cr	₹15,936 Cr	₹18,725 Cr	₹21,912 Cr	₹25,099 Cr	₹27,888 Cr	₹30,278 Cr	₹33,465 Cr	₹36,254 Cr	₹38,644 Cr	₹39,840 Cr
Borrowings (Debt)	₹3,068 Cr	₹3,506 Cr	₹4,119 Cr	₹4,821 Cr	₹5,522 Cr	₹6,135 Cr	₹6,661 Cr	₹7,362 Cr	₹7,976 Cr	₹8,502 Cr	₹8,765 Cr
Total Liabilities	₹26,815 Cr	₹30,646 Cr	₹36,009 Cr	₹42,138 Cr	₹48,267 Cr	₹53,630 Cr	₹58,227 Cr	₹64,356 Cr	₹69,719 Cr	₹74,316 Cr	₹76,615 Cr
Fixed Assets	₹12,871 Cr	₹14,710 Cr	₹17,284 Cr	₹20,226 Cr	₹23,168 Cr	₹25,743 Cr	₹27,949 Cr	₹30,891 Cr	₹33,465 Cr	₹35,672 Cr	₹36,775 Cr
Total Assets	₹26,815 Cr	₹30,646 Cr	₹36,009 Cr	₹42,138 Cr	₹48,267 Cr	₹53,630 Cr	₹58,227 Cr	₹64,356 Cr	₹69,719 Cr	₹74,316 Cr	₹76,615 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹2,390 Cr	₹2,722 Cr	₹3,187 Cr	₹3,586 Cr	₹4,117 Cr	₹4,515 Cr	₹4,980 Cr	₹5,644 Cr	₹6,109 Cr	₹6,507 Cr	₹6,640 Cr
Cash from Investing (CFI)	-₹1,482 Cr	-₹1,688 Cr	-₹1,976 Cr	-₹2,223 Cr	-₹2,552 Cr	-₹2,799 Cr	-₹3,088 Cr	-₹3,499 Cr	-₹3,787 Cr	-₹4,034 Cr	-₹4,117 Cr
Cash from Financing (CFF)	-₹764.92 Cr	-₹871.16 Cr	-₹1,020 Cr	-₹1,147 Cr	-₹1,317 Cr	-₹1,445 Cr	-₹1,594 Cr	-₹1,806 Cr	-₹1,955 Cr	-₹2,082 Cr	-₹2,125 Cr
Free Cash Flow (FCF)	₹1,205 Cr	₹1,372 Cr	₹1,606 Cr	₹1,807 Cr	₹2,075 Cr	₹2,276 Cr	₹2,510 Cr	₹2,845 Cr	₹3,079 Cr	₹3,280 Cr	₹3,347 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	15.1%	15.5%	15.9%	16.3%	16.7%	17.1%	17.5%	17.9%	18.3%	18.7%	19.1%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹230.16 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹0.00

DCF Fair Value

₹230.16

Graham Number

₹176.33

Margin of Safety

-79.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹230.16

Premium / Overvalued (Margin: -79.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹224	₹222	₹220	₹218
10%	₹228	₹226	₹224	₹222
12%	₹232	₹230	₹228	₹226
14%	₹236	₹234	₹232	₹230

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹230	Fairly Valued
Benjamin Graham Number	₹176	Market Priced
Historical Sector P/E	₹332	Premium
EV / EBITDA Multiplier	₹1,050	In-Line
Free Cash Flow Yield Model	₹980	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

5.69 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.22x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 33.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

38.12%

FIIs (Foreign)

21.71%

DIIs (Domestic)

24.47%

Government

0.15%

Public / Retail

15.59%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	38.60%	38.48%	38.36%	38.24%	38.12%	38.00%	37.88%	37.76%
• Promoter & Promoter Group Family Trusts	18.30%	18.30%	18.30%	18.30%	18.30%	18.30%	18.30%	18.30%
• Operating Holding Companies & LLPs	14.49%	14.49%	14.49%	14.49%	14.49%	14.49%	14.49%	14.49%
• Key Executive Promoters (Individual)	5.34%	5.34%	5.34%	5.34%	5.34%	5.34%	5.34%	5.34%
+ FIIs (Foreign Portfolio)	21.42%	21.49%	21.57%	21.64%	21.71%	21.78%	21.85%	21.93%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	24.28%	24.33%	24.37%	24.42%	24.47%	24.52%	24.57%	24.61%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	15.55%	15.55%	15.55%	15.55%	15.55%	15.55%	15.55%	15.55%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Hospitality & Travel.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

IHCL Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

IHCL Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

IHCL Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹1,280.00

Accelerated market share capture in Hospitality & Travel, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹1,120.00

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 53x P/E.

🐻 Bear Case (15%) -12.0%

₹880.00

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Hospitality & Travel)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:45 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Indian Hotels Company Ltd (Taj) (IHCL)	Target Stock	₹0.00	+0.00%	52.6x	14.2%	17.1%	0.22	₹1.02 Lakh Cr
InterGlobe Aviation Ltd (INDIGO)	Airlines & Domestic Aviation	₹5,665.00	+4.33%	N/A	-27.1%	5.2%	11.15	₹1.91 Lakh Cr
Indian Railway Catering & Tourism (IRCTC)	Rail Ticketing, Catering & Travel	₹472.00	+2.62%	26.3x	34.4%	46.1%	0.02	₹36,328 Cr
EIH Ltd (Oberoi Group) (EIHOTEL)	Luxury Hotel & Dining Hospitality	₹312.00	+1.12%	29.0x	14.0%	20.2%	0.03	₹18,626 Cr
CHALET HOTELS Ltd (CHALET)	Hospitality & Travel Operations	₹799.20	-1.56%	34.7x	19.0%	17.0%	0.64	₹18,558 Cr
TITAGARH RAIL SYSTEMS Ltd (TITAGARH)	Hospitality & Travel Operations	₹730.85	+4.04%	55.5x	6.8%	10.9%	0.25	₹10,781 Cr
LEMON TREE HOTELS Ltd (LEMONTREE)	Hospitality & Travel Operations	₹115.60	-0.28%	68.3x	9.3%	12.3%	0.24	₹8,530 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 93% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:45:24 IST	✓ Live Sync
Financial Statements (10Y)	Indian Hotels Company Ltd (Taj) Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Indian Hotels Company Ltd (Taj)

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Indian Hotels Company Ltd (Taj)

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Hospitality & Travel)

Metric Explainer

Stock DNA Methodology

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