Kamat Hotels (india) Ltd · NSE:KAMATHOTEL
Kamat Hotels (india) — Q2 FY2024 Earnings Presentation
42 slides from Kamat Hotels (india)'s earnings presentation, Oct 26, 2023
Slide 1: Submission of Investors Presentation Q2 FY2023-24
26th October 2023 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 October 2023
Kamat Hotels (India) Limited (KHIL) Investor Presentation October 2023 "Asia's Pioneering Hospitality Chain of Environmentally Sensitive Hotels & Resorts"
Slide 3: Quarterly & Half Yearly Highlights
Quarterly & Half Yearly Highlights
Slide 4: IRA by ORCHID, Mumbai has been sold & taken on lease
IRA by ORCHID, Mumbai (erstwhile VITS Mumbai) has been sold & taken on lease Reduction of Non Convertible Debentures (NCD) Consideration from sale of IRA by ORCHID, Mumbai in the books of Kamat Hotels India Limited to be utilized for NCD reduction o As mentioned in the last quarter, the sale of IRA
Slide 5: Other Business Highlights
Other Business Highlights Acquisition by Kamat Hotels India Limited Strengthening Orchid & IRA by ORCHID brand • KHIL acquired and operating hotels at Shimla and Manali through • In order to further strengthen its brand and presence across a wholly subsidiary, Envotel Hotels Himachal Private Limited
Slide 6: 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: 21 463 1,725 (Inro
Slide 7: Upcoming Properties
Upcoming Properties Region Brand Number of Rooms Commencement period Aurangabad IRA by ORCHID 33 Dec 2023 Jamnagar Orchid 45 Dec 2023 Delhi Noida (Sector 62) IRA by ORCHID 62 Dec 2023 Ayodhya IRA by ORCHID 50 Dec 2023 Toyam (Pune) Orchid 21 Jan 2024 Total 211 Will be operational in Q4FY24 Dehradun O
Slide 8: Q2 & H1 FY24 Financial Highlights
Q2 & H1 FY24 Financial Highlights (On Consolidated basis) Revenue EBITDA Profit Before Tax Profit After Tax Q2FY24: INR 640 Mn Q2FY24: INR 186 Mn Q2FY24: INR 5 Mn Q2FY24: INR 0.3 Mn H1FY24: INR 1336 Mn H1FY24: INR 417 Mn H1FY24: INR 31 Mn H1FY24: INR 12 Mn Q2FY24 H1FY24 • Revenue increased by 4% com
Slide 9: Story in Charts
Story in Charts (On Consolidated basis) Revenue (INR Mn) Revenue (INR Mn) Growth: 1,336.0 696.0 Growth: 640.0 • Y-o-Y: 4% 1,307.0 617.0 • Q-o-Q: (8)% • Y-o-Y: 2% Q2FY24 Q2FY23 Q1FY24 H1FY24 H1FY23 Quarterly Highlights Half Year Highlights EBITDA (INR Mn) EBITDA (INR Mn) 480.3 230.6 Growth: 186.2 186
Slide 10: Profit & Loss Statement
Profit & Loss Statement (On Consolidated basis) Particulars (INR Mn) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue from Operations 640.0 617.3 3.7% 696.2 (8.1)% 1,336.2 1,306.7 2.3% Expenditure* 453.8 430.7 5.4% 465.5 (2.5)% 919.3 826.4 11.2% EBITDA 186.2 186.7 (0.3)% 230.6 (19.0)% 41
Slide 11: Balance Sheet
Balance Sheet (On Consolidated basis) Particulars (INR Mn) Sep’23 March’23 Particulars (INR Mn) Sep'23 March'23 1. ASSETS 1. EQUITY Property, plant and equipment 3,278.8 3,341.5 Equity share capital 252.4 252.4 Right of use assets 199.3 201.8 Financial Assets 0.0 Other equity 1,302.3 1,288.5 - Loan
Slide 12: Company Overview
Company Overview THE fort —_ eal 7) ORCHID JathavGADH go) LETHE RESESTS uae SECOTEL HOTELS & RESORTS— een eta VALACE ce FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Badh... a ae By ORCHID Hotels BY ORCHID HoTeLs
Slide 13: 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 14: 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 15: 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 16: 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 15
Slide 17: Presence across India
Presence across India Hotel Location Type Keys Orchid Pune Leased 410 Orchid Manali Orchid Mumbai Owned 372 IRA by ORCHID Mumbai Leased 195 • Properties in Orchid Manali & Shimla Shimla were IRA by ORCHID Bhubaneshwar Leased 111 converted from managed Orchid Shimla Leased 96 Orchid to leased Mumbai
Slide 18: Our Destinations
Our Destinations PURI BHUBANESWAR PUNE KONARK MANALI NASHIK MUMBAI LONAVALA MURUD SHIMLA GOA 17
Slide 19: Owned Properties
Owned Properties THE ORCHID HOTEL, MUMBAI: 372 Keys Asia’s First Ecotel Certified 5-Star hotel close to Mumbai Domestic Airport 18
Slide 20: Managed Properties
Managed Properties THE ORCHID HOTEL, LONAVALA: 36 Keys 19
Slide 21: 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 22: 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 21
Slide 23: Leased Properties
Leased Properties THE ORCHID HOTEL, SHIMLA: 96 Keys THE ORCHID HOTEL, MANALI: 47 Keys IRA BY ORCHID HOTELS, MUMBAI: 195 Keys 22
Slide 24: 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 25: 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 26: Brand Portfolio
Brand Portfolio THE fort —_ eal 7) ORCHID JathavGADH go) LETHE RESESTS uae SECOTEL HOTELS & RESORTS— een eta VALACE ce FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Badh... a ae By ORCHID Hotels BY ORCHID HoTeLs
Slide 27: 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 28: The ORCHID
The ORCHID Type Keys Pune Mumbai Lonavala Leased 542 Owned 372 Shimla Manali Management Contract 47 Total 961 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 27
Slide 29: IRA By ORCHID
IRA By ORCHID Launched on 1st July 2023 Type Keys Leased 142 337 3 Owned Total 195 337 No. of Keys No. of Hotels IRA BY ORCHID HOTELS IRA BY ORCHID HOTELS IRA BY ORCHID HOTELS MUMBAI NASHIK BHUBANESHWAR ARR - Average Room Rate 28
Slide 30: 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 29
Slide 31: 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 30
Slide 32: Future Plan
Future Plan THE fort —_ eal 7) ORCHID JathavGADH go) LETHE RESESTS uae SECOTEL HOTELS & RESORTS— een eta VALACE ce FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Badh... a ae By ORCHID Hotels BY ORCHID HoTeLs
Slide 33: 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 34: 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 33
Slide 35: Historical Performance
Historical Performance THE fort #20ORCHID _JachavésAADH ECOTEL HOTELS & RESORTS— ee enon FRIENDLY. ECO-FRIENDLY Ladh, Jhagadh, Aage Badh... botus RESORTS » ee eee ira 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: For further details
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) — Q2 FY2024 Earnings Presentation on 6ix