Royal Orch.Hotel Q1 FY27 Results (NSE: ROHLTD)
Signal: Growth reaccelerated
The read
The operating trajectory strengthened, with consolidated revenue up 36.1% YoY to ₹107.21 crore and EBITDA up 39.1% to ₹32.93 crore, but reported earnings quality weakened because PAT fell 41.3% to ₹6.42 crore after the ₹20.21 crore notional depreciation and finance-cost impact; the sharp consolidated-versus-standalone gap confirms that portfolio expansion, rather than the parent estate, is driving growth.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹107.21 Cr | 36.1% | N/A |
| EBIT | ₹21.4 Cr | 15.4% | |
| Net profit | ₹6.42 Cr | -41.3% | |
| EPS | ₹2.34 | -41.4% | |
| EBIT margin | 30.7% |
P&L walk
Consolidated revenue reached ₹107.21 crore, +36.1% YoY, and EBITDA reached ₹32.93 crore, +39.1%, but EBIT grew only 15.4% to ₹21.4 crore and PAT fell 41.3% to ₹6.42 crore because the filing cites ₹20.21 crore of notional depreciation and finance cost under Ind-AS adoption; ₹7.49 crore of other income represented 91.6% of PBT.
Segments
The consolidated group is materially outperforming the standalone parent: revenue grew 36.1% YoY to ₹107.21 crore versus 9.8% growth to ₹52.22 crore standalone, while consolidated EBITDA grew 39.1% and standalone EBITDA declined 7.2%, showing that expansion is being driven by the broader managed and revenue-sharing portfolio.
Key positives
- Consolidated revenue rose 36.1% YoY to ₹107.21 crore, accelerating from 7.9% YoY growth in Q1FY26 and 30.5% in Q4FY26.
- EBITDA increased 39.1% YoY to ₹32.93 crore, outpacing revenue growth of 36.1% and lifting the reported EBITDA margin to 30.7%.
- The asset-light model added 5 hotels and 237 keys during the quarter, taking the stated portfolio to 123+ hotels and 11,350+ keys.
- A pipeline of 50+ properties and more than 3,600 keys provides visible capacity for continued portfolio-led revenue expansion.
Key concerns
- Consolidated PAT declined 41.3% YoY to ₹6.42 crore despite 39.1% EBITDA growth, showing that below-EBITDA charges are currently overwhelming operating progress.
- Standalone EBITDA fell 7.2% YoY to ₹11.03 crore on 9.8% revenue growth, indicating weaker economics in the parent entity than in the consolidated portfolio.
- Other income of ₹7.49 crore represented 91.6% of consolidated PBT, making reported pre-tax profit highly dependent on non-operating income.
Earnings quality: includes non-operating other income
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