IHCL Share Price: Profit mein record tod, phir bhi **4%** gira share! Kya hua bhai?

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AuthorAnanya Iyer|Published at:
IHCL Share Price: Profit mein record tod, phir bhi **4%** gira share! Kya hua bhai?
Overview

Bhai log, Indian Hotels (IHCL) ne Q3 FY26 mein kamaal kar diya! Profit **50.2%** badh kar **₹954.2 Crore** ho gaya, revenue bhi **12.2%** upar **₹2,842 Crore** pahunch gaya. Lekin yeh sab dekh kar bhi, stock market mein lagbhag **4%** ka dip dikha.

Asal Kahani Kya Hai? Record Results Par Bhi Stock Kyun Gira?

Dekho bhai, IHCL ne Q3 FY26 mein jo numbers diye hain woh toh sach mein record-breaking hain! Net profit 50.2% ki dhamakedar jump ke saath ₹954.2 Crore par pahunch gaya. Revenue bhi 12.2% badh kar ₹2,842 Crore ho gaya. Matlab, top line aur bottom line dono mast dikh rahe hain. Par, yeh sab dekhne ke baad bhi, stock market mein lagbhag 4% ka dip aaya. Same day Nifty50 bhi 0.91% neeche tha, toh thoda market ka pressure toh tha hi.

Asli Problem: Flat Margins Aur Valuation Ka Chakkar

Toh yeh stock gira kyun? Asal mein, company ka EBITDA (jo operating performance batata hai) 11.9% badh kar ₹1,076 Crore pahuncha. Lekin jo EBITDA margins hain, woh pichle saal ke 38% se zyada badhe nahi, bas 37.9% par hi the. Iska matlab, company revenue toh generate kar rahi hai, par profit margin ko maintain karne mein thodi struggle ho rahi hai. Yahi baat investors ko tension de rahi hai, kyunki woh expected kar rahe the ki revenue growth ke saath margins bhi badhenge. Aur ek aur chiz hai – IHCL ka valuation kaafi high hai, P/E ratio lagbhag 48x se 61x ke beech mein chal raha hai, jo international competitors se zyada hai. Aur haan, yeh koi pehli baar nahi hai; pichle kuch quarters mein bhi results aane ke baad stock mein girawat dekhi gayi hai.

Company Ka Future Plan Kya Hai?

Bhale hi abhi market thoda cautious hai, IHCL apna growth engine nahi rok raha. Company ne 239 naye hotels sign kiye hain aur 120 hotels FY26 mein khol bhi diye hain. Ab unka total portfolio 617 hotels ka ho gaya hai. Plus, ANK Hotels aur Pride Hospitality jaise companies ko acquire karke woh apne brands ko aur mazboot bana rahe hain. Debt bhi bilkul zero ke kareeb hai, jisse company ko expansion ke liye puri azaadi milti hai.

Analyst Kya Keh Rahe Hain?

Analysts ka outlook abhi bhi mostly positive hai. Axis Securities aur Motilal Oswal jaise brokers 'Buy' rating de rahe hain aur target price ₹820 tak ka de rahe hain. Unka kehna hai ki hospitality sector mein abhi bhi dum hai aur IHCL sahi direction mein ja raha hai. Company ka aim hai 2030 tak 700+ hotels ka network khada karna. Iske liye woh saalana lagbhag ₹1,000 Crore ka capital expenditure bhi plan kar rahe hain, jo unke khud ke paison se hoga. Toh long term mein toh sab theek lag raha hai, bas short term mein margins aur valuation ki chinta hai.

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