Royal Orchid Hotels Ltd FY 22-23 Standalone Revenue at 37.56 Cr in Q2 and Consolidated Revenue at 58.06 Cr in Q2.
Bangalore, November 09, 2022:
With 75+ hotels across 48+ locations in India, Royal Orchid Hotels Limited is India’s fastest-growing hospitality chain with a diverse portfolio of hotels. In the last quarter, we have done good business in all locations. Below are the financial details.
Highlights of Q2 FY 22-23 V/s Q2 FY 21-22 (Standalone)
- Total Revenue of Rs. 37.56 cr V/s. Rs. 18.64 cr (Increased by 102%)
- EBIDTA of Rs. 13.30 cr V/s. Rs. 5.86 cr (Increased by 127%)
- PAT of Rs. 5.92 cr V/s. Rs. 2.66 cr (Increased by 123%)
- EPS of Rs. 2.16 V/s. EPS of Rs. 0.97
Highlights of Q2 FY 22-23 V/s Q2 FY 21-22 (Consolidated)
- Total Revenue Rs. 58.06 cr in V/s. Rs 31.85 cr (Increased by 82%)
- EBIDTA of Rs. 20.44 cr V/s. Rs. 8.75 cr (Increased by 134%)
- PAT of Rs. 9.38 cr V/s. Rs. 0.55 cr (Increased by 1605%)
- EPS of Rs 3.22 V/s. EPS of Rs. 0.61
IND-AS adoption led to a notional increase in depreciation and finance cost of Rs. 2.92 CR leading to a reduction in PAT by Rs. 0.40 CR and has also impacted the debt-equity ratio at standalone level (SA) for Q2 (July to September 22) of FY 22-23.
Management Comment
Commenting on the results, Mr. Chander K. Baljee, Chairman & Managing Director said, “I am pleased to report that our second quarter results exceeded our expectations for system-wide comparable RevPAR, diluted EPS, adjusted for special items, and Adjusted EBITDA. Due to our strong results in the 1st & 2nd quarters and our confidence that the economy will continue to grow & recover, we are raising our full-year guidance, including our capital return forecast. We are well-positioned for the opportunities that lie ahead thanks to our asset-light business model, a strong portfolio of brands, and dynamic platforms in the industry.”
It is encouraging to note that development activity has accelerated in 2022, setting a second-quarter record. During the second quarter, we signed hotels pan India locations like Varanasi, Dharamshala, Amritsar, Jhansi, and Greater Noida. The expansion & conversions continue to drive growth in the following quarters.”
About Royal Orchid & Regenta Hotels:
Regenta & Royal Orchid Hotels is one of India’s fastest-growing hotel chains. It primarily operates 5-star, 4-star, and resorts, enabling it to target discerning business and leisure travelers. It currently operates 75+ hotels across India. Promoted by Chander K Baljee, Royal Orchid Hotels has become one of India’s most well-known names in hospitality. Royal Orchid is listed on the Bombay & National Stock Exchanges (BSE & NSE) and is governed by an independent board of eminent directors.
The group has bagged many awards including The National Tourism Award 2008-09 organized by the Ministry of
Tourism, Top 50 Brands for 2014 and 2015 by Paul Writer and most recently, the following:
- Mr Chander Baljee was featured in India Today’s 10 successful business leaders from India to look out for in 2022.
- Mr Chander Baljee has been honored Super Star of the Hospitality Industry by AHPWI at Indian Hospitality Leadership Award 2022.
- Ajay Sampige, General Manager, Hotel Royal Orchid Bangalore awarded as UPSCALE GM OF THE YEAR at the BW HOTELIER Indian Hospitality Award 2022
- Jeff’s awarded the Best Pub 2022 by Time Food & Nightlife awards 2022
- Hotel Royal Orchid, Bangalore, and Royal Orchid Central Manipal Central, MG Road have been awarded Best Business Hotel 2021 by Yatra.’
- Hotelier India conferred Mr. Chander K Baljee, CMD of Royal Orchid & Regenta Hotels with the Hall of Fame Award in 2021.
- Lifetime Achievement Award conferred by International Hospitality Council in Association with IIHM Bangalore, 2019.
- The brand Royal Orchid Hotels was recognized as one of the Top 50 Hot Brands by Paul Writer, 2019
- Regenta Place Bangalore (erstwhile Ramada Bangalore) won the award for the ‘Best Budget Hotel’ at the India Travel Awards, 2017.
- Royal Orchid Metropole, Mysore was awarded ‘The Best Heritage Hotel’ at the Tourism Awards 2016 by the Federation of Karnataka Chambers of Commerce & Industry (FKCCI), Karnataka
- Nominee and Finalist for the CNBC Travel Business Leader Awards, the Asia Pacific in 2015 (the only hotelier from India to be part of the nomination).
- The brand Royal Orchid was recognized as one of the top 50 Hot brands in Bangalore, by Paul Writer, in association with Hindustan Times at the Bangalore Brand Summit, 2014 and 2015
Our vision is to be the Preferred Hotel Chain for the discerning global traveler. The brand ‘Regenta’ is an extension of the Royal Orchid Hotel Group. It is designed for travelers whose watchword is value and convenience. It is categorized into Regenta, Regenta Central, Regenta Resort, and Regenta Inn.
Forward looking statement
We have disclosed forward-looking information so that investors can comprehend the Company’s prospects and make informed investment decisions. This release and other written and oral statements that we make periodically contain such forward-looking statements that set out anticipated results based on the Management’s plans and assumptions. We have tried, wherever possible, to qualify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words and terms of similar substance in connection with any discussion of future operating or financial performance.
We do not guarantee that any forward-looking statement will be realized, although we believe we have been diligent and prudent in our plan and assumptions. The achievement of future results is subject to risk, uncertainties, and validity of inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated, or projected. Investors should bear this in mind as they consider forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
