Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — 9M FY2006 Earnings Presentation
29 slides from Indian Hotels's earnings presentation, Jan 20, 2006
Slide 1: Analyst Meet: Performance for the Period ended December 31, 2005
The Indian Hotels Company Limited Analyst Meet Performance for the Period ended December 31, 2005 January 20, 2006 1
Slide 2: Presenter Panel
Presenter Panel Raymond N. Bickson (Managing Director) Anil P. Goel (Sr Vice President - Finance) Ajoy K. Misra (Sr Vice President – Sales & Marketing) 2
Slide 3: Outline of Presentation
Outline of Presentation Industry trends Financial performance – 9 Months 2005/06 Overview of Taj Group New acquisitions / capacity enhancement Questions and answers 3
Slide 4: Industry Trends
Industry Trends 4
Slide 5: Tourist Arrivals – January to December 2005
Tourist Arrivals – January to December 2005 Foreign Tourist Arrivals 13% 3.9m 27% 3.4m 2.7m 2003 2004 2005 Source: Ministry of Tourism Continued buoyancy in foreign tourist arrivals in calendar 2005 5
Slide 6: City Occupancies – April to December
City Occupancies – April to December Percentage 78 77 77 76 73 74 71 68 65 63 63 62 61 51 South North Delhi Bangalore Kolkata Goa Chennai Mumbai Mumbai FY06 FY05 Source: Internal Survey High Occupancy levels sustained in most cities 6
Slide 7: City ARRs – April to December
City ARRs – April to December Rs 10639 7905 7025 7065 6042 5708 5429 4965 4853 4730 4418 3917 3984 3354 South North Delhi Bangalore Kolkata Goa Chennai Mumbai Mumbai FY06 FY05 Source: Internal Survey 15% to 30% ARR growth across key locations 7
Slide 8: City RevPARs – April to December
City RevPARs – April to December Rs 8084 6197 5439 4550 4319 4190 3622 3511 3095 2858 2954 2713 2128 2249 South North Delhi Bangalore Kolkata Goa Chennai Mumbai Mumbai FY06 FY05 Source: Internal Survey Increase in Occupancy and ARR drives strong RevPAR growth 8
Slide 9: Financial Performance
Financial Performance Period ended December 31, 2005 9
Slide 10: Highlights – Nine months ended December, 2005
Highlights – Nine months ended December, 2005 Turnover higher by Rs 158 crores – 26% EBITDA higher by Rs 85 crores – 64% PBT before extraordinary items higher by Rs 89 crores – 134% PBT higher by Rs 72 crores – 87% PAT higher by Rs 41 crores – 65% EPS moves to Rs 18.91 from Rs 14.12 last year 10
Slide 11: Turnover Trend
Turnover Trend 761.7 603.4 Rs. Crores 472.4 328.5 252.6 195.2 Quarter 3 Nine months FY 04 FY05 FY06 Nine months growth - 26% over last year Quarter 3 growth – 30% over last year 11
Slide 12: EBITDA Trend
EBITDA Trend Rs. Crores 218.8 133.3 115.5 82.0 70.4 38.5 Quarter 3 Nine months FY 04 FY05 FY06 EBITDA growth for both Nine months & Q3 – 64% 12
Slide 13: Financial Results – Nine months ended December, 2005
Financial Results – Nine months ended December,2005 Rs. Crores 2005/06 2004/05 % Change Sales & Other Operating Income 728.33 581.30 25 Other Income 33.41 22.12 51 Total Income 761.74 603.42 26 Consumption of Raw Material 66.18 57.52 15 Staff Cost 157.00 138.27 14 License Fees 73.95 58.67 26 Fuel, P
Slide 14: Financial Results – Nine months ended December, 2005
Financial Results – Nine months ended December,2005 Rs. Crores 2005/06 2004/05 % Change Room sales 370.70 281.93 31% F&B Sales 282.31 237.95 19% Other operating income 40.44 33.52 21% Management fees 34.88 27.90 25% Sales & Other Operating Income 728.33 581.30 25% Healthy Room sales growth driven by
Slide 15: ARR & Occupancy
ARR & Occupancy Occupancy ARR RevPAR (Rs) (Rs) 2005/06 2004/05 2005/06 2004/05 2005/06 2004/05 CHANGE Q1 65% 64% 5,576 4,511 3,603 2,876 25% Q2 64% 68% 5,639 4,559 3,636 3,080 18% Q3 74% 75% 8,150 6,050 6,011 4,523 33% Nine months 68% 69% 6,535 5,105 4,420 3,513 26% Strategy of rate leadership in bu
Slide 16: Expenses – Nine months
Expenses – Nine months Raw material cost – increase commensurate with enhanced F&B Income Staff costs – up due to wage settlements, addition to capacity Licence fee - increase linked to top line growth Fuel, power and light - commensurate with addition to capacity Other expenditure – up du
Slide 17: Treasury
Treasury $ 114.8 million conversion applications received till date – Equity capital increased to Rs 55.5 crores from Rs 50.3 crores – Reduction in FCCB liability to Rs 158.5 crores from Rs 407.2 crores Debt down to Rs 743 crores from Rs 1008 crores Gross Interest cost lower by Rs. 8.2 crores
Slide 18: Highlights – Quarter ended December, 2005
Highlights – Quarter ended December, 2005 Turnover higher by Rs 76 crores – 30% EBITDA higher by Rs 45 crores – 64% PBT higher by Rs 47 crores – 104% PAT higher by Rs 27 crores – 76% EPS Rs 11.09 from Rs 7.75 last year 18
Slide 19: Financial Results – Quarter ended December, 2005
Financial Results – Quarter ended December,2005 Rs. Crores Q3 FY 2006 Q3 FY 2005 % Change Sales & Other Operating Income 317.45 249.09 27 Other Income 11.05 3.49 217 Total Income 328.50 252.58 30 Consumption of Raw Material 26.66 23.37 14 Staff Cost 61.33 57.14 7 License Fees 32.15 26.68 21 Fuel, Po
Slide 20: Overview of Taj Group
Overview of Taj Group 20
Slide 21: Overview of Taj Group
Overview of Taj Group Particulars 9M FY 9M FY 9M FY 2005/06 2004/05 2003/04 No. Of Hotels 71 66 63 Inventory 8680 8219 7973 Total Income – Rs crores 2058 1555 1254 Total revenues grew by 32% and 24%, respectively, in the last two years 21
Slide 22: New acquisitions/ Capacity enhancements
New acquisitions/ Capacity enhancements 22
Slide 23: New acquisition – Hotel 'W' - Sydney
New acquisition – Hotel ‘W’ - Sydney • Share Sale Deed signed in November, 2005 • A$ 3.6 million placed in escrow • Transition takeover team in position at the hotel • Transaction closure on January 31, 2006 23
Slide 24: New acquisition – Hotel 'W' - Sydney
New acquisition – Hotel ‘W’ - Sydney 24
Slide 25: Capacity enhancements
Capacity enhancements IHCL Taj Group Company Pure management contract Falaknuma Palace, Hyderabad Chennai – 200 rooms Bhutan – 60 rooms – 60 rooms ITPL, Bangalore – 200 rooms Fisherman’s Cove, Vijaywada – 100 rooms Chennai – 75 rooms Santa Cruz, Mumbai – 200 Blue Diamond, Pune – Dubai – 200 rooms ro
Slide 26: Reinstatement of Capacity
Reinstatement of Capacity The Taj Exotica Maldives – soft reopening on schedule in December , 2005. Opening ARR at US$ 770 The new ‘Jiva Grande’ Spa to open in April 2006 26
Slide 27: Post acquisition Performance
Post acquisition Performance The Pierre – Occupancy 77% ARR US$ 515 Designers and architect appointed. Renovations, in phases, to commence in summer. 27
Slide 28: IHCL Share Price Movement
IHCL Share Price Movement IHCL BSE Sensex 28
Slide 29: Thank you
<2, ‘AT Hotels Res bus Thank you 29
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