Kamat Hotels (india) Ltd · NSE:KAMATHOTEL
Kamat Hotels (india) — Q3 FY2024 Earnings Presentation
42 slides from Kamat Hotels (india)'s earnings presentation, Jan 31, 2024
Slide 1: Stock exchange submission letter
31st January 2024 To, To, Listing Department Listing Department Bombay Stock Exchange Limited National Stock Exchange of India Limited PhirozeJeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra –KurlaComplex, Mumbai - 400 001. Bandra (E), Mumbai – 400 051 Code: 526668 Symbol: KAMAT
Slide 2: Kamat Hotels (India) Limited Investor Presentation
Kamat Hotels (India) Limited (KHIL) Investor Presentation January 2024 "Asia's Pioneering Hospitality Chain of Environmentally Sensitive Hotels & Resorts"
Slide 3: Quarterly & Nine-Months Highlights
Quarterly & Nine-Months Highlights
Slide 4: Joint Development Agreement to develop Mahodadhi Palace
Joint Development Agreement (JDA) to develop & construct Mahodadhi Palace Mahodadhi Palace Private Limited, wholly owned subsidiary of Kamat Hotels (India) Limited (KHIL), signs Joint Development Agreement (JDA) Project Completion Timeline Funding Amount o For development of Five Star 120 Luxurious
Slide 5: Other Business Highlights
Other Business Highlights Inaugurated The IRA by Orchid, Sambhajinagar in Inaugurated its 1st property in Gujarat with Aurangabad The Orchid Hotel, Jamnagar • The property was opened on 15th December 2023 and aims to offer an • The property was opened on 1st December 2023, the hotel preserves the ex
Slide 6: Upcoming Properties
Upcoming Properties Region Brand Number of Rooms Commencement Date Status Sambhaji Nagar (Aurangabad) Ira by Orchid 33 Commenced Jamnagar Orchid 45 Commenced Dec 2023 Delhi Noida (Sector 62) Orchid 62 March 2024 Ayodhya IRA 50 15th February 2024 Orchid Toyam Orchid 21 Jan 2024 March 2024 Dehradun Or
Slide 7: IRA Brand Performance
IRA Brand Performance - Brand launched on 1st July 2023 ARR Growth (%) ARR Growth (%) Jul-22 to Jan-23 Jul-23 to Jan-24 Jul-22 to Jan-23 Jul-23 to Jan-24 VITS Mumbai IRA Mumbai VITS Bhubaneshwar IRA Bhubaneshwar • IRA Nashik is not comparable as it was under repairs and maintenance for 3 months in F
Slide 8: Q3 FY24 Performance Highlights
Q3 FY24 Performance Highlights (On Consolidated basis) Revenue (INR Mn) Revenue (INR Mn) 861.4 838.1 Growth: 640.0 2,197.5 Growth: • Y-o-Y: 2.8% • Q-o-Q: 34.6% 2,144.8 • Y-o-Y: 2.5% Q3FY24 Q3FY23 Q2FY24 9MFY24 9MFY23 Nine Months Highlights Quarterly Highlights EBITDA (INR Mn) EBITDA (INR Mn) 332.3 8
Slide 9: Financial Summary
Financial Summary (On Consolidated basis) Revenue Employee Expenses Other Expenses Exceptional Income • All the properties did well • There has been an increase in • There has been an increase in • In Q3FY24 exceptional on ARR front on both employee cost both on YoY other expenses both on YoY income
Slide 10: Profit & Loss Statement
Profit & Loss Statement (On Consolidated basis) Particulars (INR Mn) Q3FY24 Q3FY23 Y-o-Y Q2FY24 Q-o-Q 9MFY24 9MFY23 Y-o-Y Revenue from Operations 861.4 838.1 2.8% 640.0 34.6% 2,197.5 2,144.8 2.5% Expenditure* 602.1 505.8 453.8 1,521.5 1,332.2 EBITDA 259.2 332.3 (22.0)% 186.2 39.2% 676.1 812.6 (16.8)
Slide 11: Company Overview
Company Overview THE tort al » i | Lotus RESORTS ORCHID hwGADH og SOE Ira FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Bach... By ORCHID Hotels BY ORCHID HOTELS
Slide 12: About Kamat Group
About Kamat Group 8-decade Scaling-up 3rd generation successful experience business business owners Hotel Consultancy and Hospitality Industry From residential to hotel properties having • Founded by Late Mr. Venkatesh Krishna Kamat presence across 7 states in India • Later headed by Dr. Vithal Venk
Slide 13: KHIL 1.0 – How did we Begin?
KHIL 1.0 – How did we Begin? Invested ~INR 600 Cr. 1958 1980-90 1990-2000 2000-05 2005-10 • Late Shri Venkatesh Kamat started Satkar Hotel in • Opened second hotel at Mumbai at Churchgate Andheri, Mumbai • Incorporated KAMAT HOTELS • Opened Maharashtra’s first (INDIA) LIMITED (KHIL) and only heritag
Slide 14: KHIL 2.0 – How did we Transform?
KHIL 2.0 – How did we Transform? 2010-14 Introspective Phase 2015-22 Reform and Transformational Phase • Regained the trust and confidence from lender In INR Mn • Economy slowdown: KHIL’s operations were impacted due to slowdown in Indian economy leading through regular payments and continuous Year
Slide 15: KHIL 2.0
KHIL 2.0 Then Now (FY 2016) (FY 2023) 5 No. of Brands 5 10 No. of Properties 13 1,200 No. of Keys 1,500+ 5,750 Average Room Rate (INR) 6,500 1,580 Revenue (INR Mn) 2,990 6,150 Debt (INR Mn) 2,975 14
Slide 16: Presence across India
Presence across India Hotel Location Type Keys Orchid Pune Leased 410 Orchid Orchid Mumbai Owned 372 Manali Orchid IRA by ORCHID Mumbai Leased 195 Jamnagar Orchid Shimla IRA by ORCHID Bhubaneshwar Leased 111 Orchid Shimla Leased 96 Orchid Orchid Manali Leased 47 Mumbai Fort JadhavGadh Pune Leased 58
Slide 17: Our Destinations
Our Destinations PURI BHUBANESWAR PUNE KONARK MANALI NASHIK MUMBAI LONAVALA MURUD SHIMLA GOA 16
Slide 18: Owned Properties
Owned Properties THE ORCHID HOTEL, MUMBAI: 372 Keys Asia’s First Ecotel Certified 5-Star hotel close to Mumbai Domestic Airport 17
Slide 19: Managed Properties
Managed Properties THE ORCHID HOTEL, LONAVALA: 36 Keys 18
Slide 20: Leased Properties
Leased Properties IRA BY ORCHID HOTELS, BHUBANESHWAR: THE ORCHID HOTEL, PUNE: 410 Keys IRA BY ORCHID HOTELS, NASHIK: 31 Keys 111 Keys Pune’s Largest Convention & Mice Destination! LOTUS ECO BEACH RESORT, LOTUS ECO BEACH RESORT, KONARK: 33 Keys LOTUS ECO BEACH RESORT, GOA: 48 Keys MURUD-DAPOLI: 40 Ke
Slide 21: Leased Properties
Leased Properties FORT JADHAVGADH: 58 Keys MAHODADHI PALACE, PURI: 33 Keys Maharashtra’s first fort heritage hotel Odisha’s only beach view Palace Hotel offering a unique royal experience 20
Slide 22: Leased Properties
Leased Properties THE ORCHID HOTEL, SHIMLA: 96 Keys THE ORCHID HOTEL, MANALI: 47 Keys IRA BY ORCHID HOTELS, MUMBAI: 195 Keys THE ORCHID HOTEL, JAMNAGAR: 45 Keys IRA BY ORCHID HOTELS, AURANGABAD: 33 Keys 21
Slide 23: Experienced Board Members
Experienced Board Members Dr. Vithal Venkatesh Kamat Vishal Vithal Kamat Vidita Vithal Kamat Sanjeev Badriprasad Vilas Ramchandra Ramnath P. Sarang Executive Chairman & Executive Director – Kamats Non-Executive Director Rajgarhia Koranne Independent Managing Director Group & CEO (Fort Experience of
Slide 24: Professional Management Team
Professional Management Team Smita B. Nanda Nikhil Singh Varun Sahni CFO Kamat Group Company Secretary & Compliance Vice President Operations 27+ years of Professional Officer 27+ years of experience in hospitality experience in varied fields 7+ years of experience in legal and secretarial industry
Slide 25: Brand Portfolio
Brand Portfolio THE tort al » i | Lotus RESORTS ORCHID hwGADH og SOE Ira FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Bach... By ORCHID Hotels BY ORCHID HOTELS
Slide 26: Portfolio of the Brands
Portfolio of the Brands Launched in No. of years 25+ 15+ 12+ 12+ July 2023 Market Segment Premium Premium Premium Mid-Premium Mid-Premium No. of Properties 5 1 1 3 3 No. of Keys 961 58 33 121 337 Occupancy (%)* 80% 55% - 55% 80% Revenue (INR Mn)* 1,971@ 205 28 173 696 *as on FY 2023; @includes manag
Slide 27: The ORCHID
The ORCHID Type Keys Pune Mumbai Lonavala Leased 542 Owned 372 Shimla Manali Management Contract 47 Total 961 Jamnagar Occupancy (%) ARR (INR) Since 1997 FY 2019: 75% FY 2019: 4,597 961 5 64% FY 2023: 80% FY 2023: 5,549 No. of Keys No. of Hotels Revenue Contribution ARR - Average Room Rate 26
Slide 28: IRA By ORCHID
IRA By ORCHID IRA By Orchid was Launched on 1st July 2023 Type Keys Leased 175 Owned 195 Total 370 IRA BY ORCHID HOTELS IRA BY ORCHID HOTELS MUMBAI NASHIK 370 4 No. of Keys No. of Hotels IRA BY ORCHID HOTELS IRA BY ORCHID HOTELS BHUBANESHWAR SAMBHAJINAGAR ARR - Average Room Rate 27
Slide 29: Fort JadhavGadh
Fort JadhavGadh Since 2007 Occupancy (%) FY 2019: 55% Leased Property FY 2023: 55% 58 No. of Keys ARR (INR) FY 2019: 6,114 7% Revenue Contribution FY 2023: 7,553 ARR - Average Room Rate 28
Slide 30: Lotus Resorts
Lotus Resorts Since 2007 Occupancy (%) 121 3 6% FY 2019: 50% No. of Keys No. of Hotels Revenue Contribution All Leased Property FY 2023: 55% ARR (INR) FY 2019: 3,030 Lotus Eco Beach Lotus Eco Beach Lotus Eco Beach Resort Konark Resort Goa Resort Murud Dapoli FY 2023: 4,299 ARR - Average Room Rate 29
Slide 31: Future Plan
Future Plan THE tort al » i | Lotus RESORTS ORCHID hwGADH og SOE Ira FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Bach... By ORCHID Hotels BY ORCHID HOTELS
Slide 32: Leveraging our strengths for future growth
Leveraging our strengths for future growth Our Strengths & Capabilities Strategy Going Forward Unique set of properties from business hotels to luxurious Continue looking for extraordinary properties to Diverse Portfolio resorts and hotels in iconic heritage buildings provide plethora of options for
Slide 33: KHIL 3.0: Future Plan
KHIL 3.0: Future Plan Today KHIL 2.0 (FY 2023) (FY 2025) No. of States 4 7 No. of Properties 13 25 No. of Keys 1,500+ 2200+ Average Room Rate (INR) 6,500 7,500 2,990 4,000 Revenue (INR Mn) Debt (INR Mn) 2,975 1,750 32
Slide 34: KHIL 3.0: Progress so Far
KHIL 3.0: Progress so Far Orchid Orchid Dehradun No. of Properties No. of Keys Debt Level Chandigarh IRA Delhi Orchid Noida (Sector 62) Jamnagar FY23: FY23: FY23: IRA 13 1,510 2,975 Bhavnagar (Operationalised) (Operationalised) (INR Mn) IRA Aurangabad IRA Ayodhya FY24: FY24: FY24: 19 334 1,725 (Inro
Slide 35: Historical Performance
Historical Performance THE tort al » i | Lotus RESORTS ORCHID hwGADH og SOE Ira FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Bach... By ORCHID Hotels BY ORCHID HOTELS
Slide 36: Historical Performance
Historical Performance (On Consolidated basis) Revenue (INR Mn) Room Food & Beverage +26% 39% 39% 42% 43% 38% Surpassed the pre-pandemic levels 2,989.6 61% 61% 58% 57% 62% 2,382.0 2,234.0 FY19 FY20 FY21 FY22 FY23 Covid years 1,456.3 Orchid Fort Jadhav Gadh Mahodhadi Palace Lotus Resorts Ira 674.9 22
Slide 37: Historical Performance
Historical Performance (On Consolidated basis) EBITDA (INR Mn) EBITDA Margin (%) 1,086.8 36.8% 31.1% 29.0% 719.9 25.4% 633.8 366.8 13.4% 88.5 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 PAT (INR Mn) EPS (INR) 3,128.8 131.1 168.9 247.7 7.2 10.5 -362.9 -226.7 -15.4 -9.6 FY19 FY20 FY21 FY22 FY23
Slide 38: Balance Sheet
Balance Sheet (On Consolidated basis) Debt (INR Mn) Cash & Cash Equivalents (INR Mn) Net worth (INR Mn) Substantial Reduction in Debt (26)% 225 1,540.9 4,947.4 4,505.7 4,409.8 Turned Positive 4,392.8 154 3,273.4 135 121 80 -1,229.9 -1,478.4 -1,587.5 -1,811.7 FY19 FY20 FY21 FY22 FY23* FY19 FY20 FY21
Slide 39: Cashflow
Cashflow CASH FLOW FROM OPERATIONS (INR Mn) FREE CASH FLOW (INR Mn) 1,162 3,583 789 741 307 381 419 10 57 FY19 FY20 FY21 FY22 FY23 -10 FY19 FY20 FY21 FY22 FY23 Company will utilise free cashflow to further strengthen balance sheet and support growth opportunities (On Consolidated basis) 38
Slide 40: Outlook
Outlook • Focus on Topline growth through newer projects in pipeline • Enhancing unit level operation efficiency by focussing on Electricity, Labour & operating expenses • Focus on Digitisation and strengthen its digital media sales and online marketing • Further strengthen the Brand portfolio and p
Slide 41: Safe Harbour
Safe Harbour This Presentation which has been prepared by Kamat Hotels (India) Limited (the “Company’) is solely for information purposes and do not constitute any offer, recommendation, or invitation to purchase or subscribe for any securities and shall not form the basis or be relied on in connect
Slide 42: Thank You
THANK YOU For further details Neha Shroff / Sonia Keswani / Mahalakshmi Venkatachalam Ernst & Young LLP M: 77380 73466 / 80173 93854 E: neha.shroff@in.ey.com / sonia.keswani@in.ey.com / Mahalakshmi.Venkatachalam@in.ey.com
Kamat Hotels (India) — Q3 FY2024 Earnings Presentation on 6ix