Samhi Hotels Q1 FY27 Results (NSE: SAMHI)
Signal: Margin pressure
The read
Consolidated revenue growth of 12.1% is healthy, but EBITDA margin contraction (~560bps) and reliance on other income for PAT growth temper earnings quality; the company is planning a ₹750 Cr fundraise to expand capacity, signaling a capex growth phase.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹305.21 Cr | 12.1% | -75.5% |
| EBIT | ₹70.42 Cr | -8.0% | |
| Net profit | ₹18.25 Cr | 5.6% | |
| EPS | ₹1.12 | 28.7% | |
| EBIT margin | 33.2% |
P&L walk
Revenue rose 12.1% YoY to ₹305 Cr, but EBITDA fell 4.1% and margin contracted ~560bps, indicating cost pressures; PAT grew 5.6% but benefited from other income.
Key positives
- Consolidated revenue grew 12.1% YoY to ₹305.21 Cr.
- EPS grew 28.7% YoY, ahead of PAT growth, potentially benefiting from minority interest changes.
- Acquisition of Itmenaan Lodges for ₹12 Cr expands boutique luxury portfolio.
- Board approved enabling resolution to raise up to ₹750 Cr for capacity expansion and growth opportunities.
Key concerns
- EBITDA margin contracted ~560bps YoY, indicating cost pressures (employee costs, other expenses).
- PAT growth of 5.6% was supported by other income of ₹3.08 Cr; excluding this, core profitability declined.
- Standalone operations remain flat (revenue -0.7% YoY) and heavily dependent on other income (77% of PBT).
- Large QoQ revenue decline of 75.5% reflects seasonal and one-off distortions from prior quarter exceptional gains.
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