Kamat Hotels (I) Limited (KAMATHOTEL)
₹251.25 -0.09% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kamat Hotels' revenue was ₹90.5 Cr (+9.5% year on year, -17.8% on the previous quarter), and net profit ₹9.7 Cr (+129.2% year on year); the operating margin was 27.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹90.5 | +9.5% | -17.8% |
| Operating profit | ₹24.6 | +36.1% | -22.8% |
| Net profit | ₹9.7 | +129.2% | -44.5% |
| EPS (₹) | 3.19 | +124.6% | -44.5% |
| Operating margin | 27.2% | — | — |
KAMATHOTEL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 52.54% of the KAMATHOTEL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.87%. That is close to its usual level. Turnover was only ₹81 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 61.5% · 50.8% · 52.1% · 66.1% · 52.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kamat Hotels (India) Limited submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited. It confirms that share certificates received for dematerialisation during the period were processed and mutilated/cancelled in compliance with depository regulations. This is a standard quarterly administrative filing with no impact on business operations or financials.
- Compliance certificate filed under Regulation 74(5) of SEBI Regulations, 2018
- Covers the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited
- Certificate dated October 03, 2026 and submitted to exchanges on October 08, 2026
Kamat Hotels (India) Limited has dispatched letters on September 02, 2026, to shareholders whose email addresses are not registered with the company or RTA. The letter provides web links to access the 39th Annual General Meeting (AGM) notice and the Annual Report for FY 2025-26. The 39th AGM is scheduled to take place on Saturday, September 26, 2026, at 11:30 a.m. IST via video conferencing. The communication also reminds physical security holders to complete mandatory KYC updation pursuant to SEBI circulars.
- 39th Annual General Meeting scheduled for Saturday, September 26, 2026, at 11:30 a.m. IST via Video Conferencing.
- Dispatch of intimation letter completed on September 02, 2026, for shareholders without registered email addresses.
- Web-link provided to access the FY26 Annual Report via company website (Khil.com).
- Reminder issued for KYC updation and dematerialization under SEBI Master Circular dated May 07, 2024.
Kamat Hotels (India) Limited has released the notice for its 39th Annual General Meeting scheduled for September 26, 2026. The key special business includes seeking shareholder approval for the 'ESOS 2026' scheme covering up to 8,84,500 employee stock options (representing ~2.9% of total equity). Other ordinary and special business items include the re-appointment of Dr. Vithal V. Kamat and the continuation of Independent Director Mr. Vilas R. Koranne beyond the age of 75 years.
- 39th Annual General Meeting scheduled for Saturday, September 26, 2026, at 11:30 AM IST via VC/OAVM.
- Proposed ESOS 2026 pool capped at 8,84,500 options convertible into 8,84,500 equity shares of face value Rs 10 each.
- Dr. Vithal V. Kamat, Executive Chairman & MD, retires by rotation and offers himself for re-appointment.
- Approval sought for continuation of Mr. Vilas R. Koranne as Non-Executive Independent Director past age 75 (attains 75 on September 8, 2027).
Kamat Hotels (India) Limited has scheduled an analyst and investor group meeting on Thursday, August 27, 2026, at 12:00 Noon IST. The meeting is being organized by Valorem Advisors and will be held via video conferencing. The company confirmed that only publicly available information will be discussed with no unpublished price-sensitive information (UPSI) shared.
- Investor Group Meet scheduled for Thursday, August 27, 2026, at 12:00 Noon IST
- Interaction arranged by Valorem Advisors via Video Conferencing
- Company confirmed discussions will be restricted to public domain data with no UPSI
Kamat Hotels reported a 10% YoY revenue growth to ₹91 Cr for Q1 FY27, while EBITDA surged 36% to ₹25 Cr due to improved pricing discipline. EBITDA margins expanded significantly to 27% from 22% in the previous year's corresponding quarter. The company is executing an aggressive expansion plan to add 700+ keys across 9 new properties, aiming for a total capacity of 2,500+ keys by the end of FY26. Management also emphasized a goal to reach net zero debt and appointed a new CFO with extensive hospitality experience.
- Consolidated revenue increased 10% YoY to ₹91 Cr in Q1 FY27
- EBITDA grew 36% to ₹25 Cr with margins expanding by 500 basis points to 27%
- Expansion pipeline includes 9 new properties adding 700+ keys to reach 2,500+ total keys
- Orchid Dwarka (63 rooms) and Gwalior properties scheduled to open by Dec 2026 and Diwali 2026 respectively
- Management targeting a net zero debt balance sheet through internal accruals
Kamat Hotels has released the audio recording of its Q1 FY27 earnings conference call held on August 12, 2026. The company is currently executing a strategy to reach 2,500+ keys by the end of FY26, up from its current capacity of 2,100+ keys. With a TTM revenue of Rs 386 Cr and a debt of Rs 144 Cr, management's discussion likely focuses on the expansion into three new states and the impact of high lease costs. The recording provides transparency into how the company plans to achieve its Rs 400 Cr revenue target for FY26.
- Earnings conference call for Q1 FY27 conducted on August 12, 2026, at 12:00 PM IST.
- Company targeting an expansion to 2,500+ keys by the end of FY26 from the current 2,100+.
- TTM Revenue stands at Rs 386 Cr with an Operating Profit Margin of 25.1%.
- Management strategy involves adding 9 new properties to reduce reliance on the Maharashtra market.
Kamat Hotels reported a 10% YoY revenue growth to ₹90.5 cr for Q1-FY27, while PAT surged 126% to ₹9.7 cr. The significant bottom-line improvement was driven by a 530 bps expansion in EBITDA margins to 27%, largely aided by the closure of the high-cost IRA Mumbai lease. Operational metrics showed strength with group occupancy rising to 66% from 55% YoY, despite a slight moderation in Average Room Rates (ARR) to ₹5,678. The company is aggressively pursuing an asset-light expansion with 620+ keys across 7 properties in the pipeline.
- PAT increased by 126% YoY to ₹9.7 cr in Q1-FY27 from ₹4.3 cr in Q1-FY26
- EBITDA margins expanded by 530 basis points to reach 27% compared to 22% YoY
- Occupancy rates improved significantly to 66% compared to 55% in the previous year's quarter
- Pipeline includes 7 new properties adding 620+ keys, representing a ~32% capacity expansion
- Net debt reduced to ₹38.3 cr after adjusting for ₹66.2 cr in cash and fixed deposits
Kamat Hotels (I) Limited reported a 25% YoY increase in standalone net profit to ₹10.63 crore for Q1 FY27, despite a modest 4.2% growth in revenue from operations to ₹58.53 crore. The board has approved a new Employee Stock Option Scheme (ESOS 2026) covering 8.84 lakh shares, which represents approximately 2.9% of the current equity base. Finance costs saw a significant sequential reduction to ₹3.88 crore from ₹7.32 crore in the previous quarter. However, auditors highlighted an emphasis of matter regarding a ₹6.80 crore unrefunded security deposit and the Konark lease extension which is currently valid only until September 2026.
- Standalone Net Profit grew 25% YoY to ₹10.63 Cr in Q1 FY27 compared to ₹8.50 Cr in Q1 FY26.
- Revenue from operations increased 4.2% YoY to ₹58.53 Cr from ₹56.16 Cr.
- Board approved ESOS 2026 for up to 8,84,500 options, representing ~2.9% of total equity.
- Finance costs reduced to ₹3.88 Cr in Q1 FY27 from ₹7.32 Cr in Q4 FY26.
- Auditors flagged a ₹6.80 Cr unrefunded security deposit from a terminated lease arrangement effective April 1, 2026.
Kamat Hotels (I) Limited has scheduled its Q1-FY2027 earnings conference call for August 12, 2026, at 12:00 PM IST. The management, including Executive Director Vishal Vithal Kamat and CFO Milind Wadekar, will discuss the unaudited financial results for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company achieved a revenue of ₹385.63 Cr and an operating margin of 25.1%. Investors will be looking for updates on the company's strategy to add 700+ keys and expand into three new states.
- Earnings conference call scheduled for August 12, 2026, at 12:00 Noon IST
- Management to discuss Unaudited Standalone and Consolidated results for Q1 ended June 30, 2026
- Call to be attended by Executive Director Vishal Vithal Kamat and CFO Milind Wadekar
- Company currently operates 2,100+ keys with a target to reach 2,500+ keys by end of FY26
Kamat Hotels (I) Limited has confirmed the appointment of Mr. Milind Wadekar as Chief Financial Officer (CFO) and Key Managerial Personnel, effective August 01, 2026. Mr. Wadekar is a seasoned professional with over 30 years of experience, including more than 20 years in the hospitality sector. Notably, he previously served as CFO at Chalet Hotels Limited, a significant industry peer. This leadership addition is timely as the company targets a revenue of ₹400 Cr for FY26 and manages a debt of ₹144 Cr while expanding its room inventory.
- Mr. Milind Wadekar joined as CFO and KMP effective August 01, 2026.
- Brings over 30 years of total experience in finance and business strategy.
- Over 20 years of specialized experience in the hospitality industry.
- Previous leadership roles include CFO at Chalet Hotels and EVP at Ventive Hospitality.
- Company is currently managing a TTM revenue of ₹386 Cr with a 25.1% operating margin.
Kamat Hotels (I) Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and cancelled as per regulations. This is a standard administrative filing ensuring that the company's electronic share records are maintained correctly. There are no financial implications or operational changes reported in this document.
- Compliance certificate issued for the quarter ended June 30, 2026
- Registrar and Share Transfer Agent (RTA) confirmed as MUFG Intime India Private Limited
- Securities received for dematerialization were confirmed/rejected within prescribed timelines
- Security certificates were mutilated and cancelled after due verification by the depository participant
Kamat Hotels (India) Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is for the purpose of finalizing and declaring the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced at a later time.
- Trading window closure effective from July 1, 2026.
- Closure relates to the financial results for the quarter ended June 30, 2026.
- Restriction applies to designated persons, immediate relatives, and connected persons.
- Window to reopen 48 hours after the declaration of unaudited financial results.
Kamat Hotels (India) Ltd. has announced the grand opening of 'IRA by Orchid' in Bhavnagar, Gujarat, adding 50 rooms to its portfolio. The property operates under a leased model and is strategically located in ISCON Mega City to target business, leisure, and pilgrimage travelers. The hotel features five banquet venues with a capacity of up to 500 guests, aiming to capture the regional social events and MICE market. This move strengthens the company's footprint in the Saurashtra region and aligns with its strategy of expanding the IRA brand in emerging Indian cities.
- New 50-key property opened in Bhavnagar, Gujarat under the 'IRA by Orchid' brand.
- The hotel operates under a Leased model, supporting the company's expansion strategy.
- Features 5 versatile banquet and meeting venues accommodating up to 500 guests.
- Strategically located near Bhavnagar Airport and transit routes to serve pilgrimage and industrial traffic.
- Kamat Hotels (India) Limited now manages a total portfolio of 1,900+ operational keys.
Dr. Vithal V. Kamat, representing the promoter group of Kamat Hotels (India) Limited, has submitted a formal declaration under SEBI (SAST) Regulations. The disclosure confirms that none of the promoters or persons acting in concert (PAC) have created any encumbrance or pledge on their shareholding during the financial year ended March 31, 2026. This annual filing covers 10 distinct promoter entities and individuals, ensuring transparency regarding the status of promoter-held equity.
- Promoter group confirmed zero encumbrance on shares for the financial year ended March 31, 2026.
- Compliance submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- The declaration covers 10 promoter entities, including Dr. Vithal V. Kamat, Vishal V. Kamat, and Plaza Hotels Private Limited.
- Confirms that no promoter shares were pledged as collateral for debt or other obligations during the period.
Kamat Hotels (India) Limited reported a robust performance for Q4 FY26, with consolidated revenue increasing 19% YoY to INR 110 crores. Profitability saw a significant boost as PAT jumped 59% to INR 18 crores, supported by EBITDA margins expanding to 29%. For the full year FY26, the company achieved a revenue of INR 386 crores and a PAT of INR 39 crores. Management highlighted that while new property additions initially impacted overall ADR metrics due to stabilization phases, these assets are expected to drive future EBITDA growth.
- Q4 FY26 consolidated revenue rose 19% YoY to INR 110 crores.
- Quarterly PAT increased by 59% YoY to INR 18 crores with a 16% PAT margin.
- EBITDA for Q4 stood at INR 32 crores, with margins expanding 213 bps to 29%.
- Full-year FY26 revenue reached INR 386 crores with an EBITDA of INR 97 crores.
- New property 'IRA by Orchid Bhavnagar' is set to open by June 2026.
Financial Performance
Revenue Growth by Segment
Consolidated Operational Revenue for H1-FY26 stood at INR 157.8 Cr. For FY25, the segment revenue mix was dominated by The Orchid at 61%, followed by IRA at 28%, Heritage Hotels at 6%, and Lotus Resorts at 5%. Q2-FY26 revenue of INR 75.1 Cr showed a YoY decline of 11.8% and a QoQ decline of 8.8% due to a lean monsoon period and a dip in Pune Orchid performance.
Geographic Revenue Split
The company is currently concentrated in 9 States/U.T. with a historical heavy reliance on Maharashtra (Mumbai and Pune). To deleverage geographic risk, the company is expanding into new territories like Chandigarh and has a pipeline of 9 new properties across 3 states.
Profitability Margins
Profitability saw a sharp decline in H1-FY26 with PAT margins at 1.39% compared to 13.05% in FY25. This was driven by a 76.6% YoY drop in PAT for the half-year to INR 2.2 Cr, primarily due to the management's strategy of expensing all pre-opening costs for 6 new hotels (including Chandigarh) rather than capitalizing them.
EBITDA Margin
EBITDA margin for H1-FY26 was 16.41%, a significant contraction from 29.33% in FY25 and 29.87% in FY24. Q2-FY26 EBITDA fell 62.5% YoY to INR 8.4 Cr, impacted by higher operating expenses and the immediate booking of pre-opening costs for new properties.
Capital Expenditure
The company is transitioning to a 'KHIL 3.0' model, focusing on asset-light growth through management contracts and revenue sharing. While specific INR Cr capex for FY26 is not disclosed, the company is adding 700+ keys to its pipeline to reach a total of 2,500+ keys by FY26.
Credit Rating & Borrowing
Finance costs for H1-FY26 were INR 12 Cr, a 37.2% reduction YoY. Total debt has been reduced substantially from INR 327.3 Cr in FY23 to INR 115.3 Cr in H1-FY26, with a target to reach a 'Net Cash' status and reduce debt further to INR 50 Cr by the end of FY26.
Operational Drivers
Raw Materials
Food & Beverage supplies represent 35% of total revenue. Other major operational costs include Electricity, Labor, and general operating expenses which the company is targeting for efficiency improvements.
Import Sources
Not specifically disclosed; however, procurement is primarily domestic across the 9 states of operation including Maharashtra and Punjab (Chandigarh).
Capacity Expansion
Current capacity stands at 24 properties with 2,100+ keys. Planned expansion includes 9 new properties adding 700+ keys, aiming for a total of 2,500+ keys by the end of FY26.
Raw Material Costs
Total expenses for H1-FY26 were INR 131.9 Cr, up 7.0% YoY. The company is focusing on enhancing unit-level operational efficiency specifically in electricity and labor to manage these costs.
Manufacturing Efficiency
The group level occupancy rate is 52% with an Average Room Rate (ARR) of INR 6,074. The company aims to improve these through digitization and strengthened online marketing.
Logistics & Distribution
Not applicable as a service-based hotel industry, but sales are driven by digital media and online marketing (65% repeat customer rate).
Strategic Growth
Expected Growth Rate
10.30%
Growth Strategy
The company aims to reach INR 400 Cr revenue in FY26 (up from INR 362.5 Cr in FY25) by adding 700+ keys, expanding the 'IRA by Orchid' and 'The Orchid' brands, and increasing presence in new states. The strategy involves a mix of lease properties, revenue sharing, and management contracts.
Products & Services
Luxury and mid-premium hotel stays, banquet services, and Food & Beverage services (35% of revenue).
Brand Portfolio
The Orchid, IRA by Orchid, Lotus Resorts, Fort JadhavGadh, Mahodadhi Palace, Toyam.
New Products/Services
9 new properties in the pipeline including a significant expansion in Chandigarh which is expected to contribute to H2-FY26 growth.
Market Expansion
Expansion into 3 new states with 9 new properties to reduce reliance on the Maharashtra market.
Market Share & Ranking
Not disclosed, but 'The Orchid' is noted as Asia's 1st chain of 5-star Environment Sensitive Hotels.
Strategic Alliances
The company utilizes management contracts and revenue-sharing models with property owners to scale without heavy capital investment.
External Factors
Industry Trends
The industry is seeing a shift toward asset-light management models. Kamat Hotels is positioning itself by moving toward management contracts and expanding its mid-premium 'IRA' brand to capture broader market segments.
Competitive Landscape
Competes with national hotel chains; management is actively expanding to match the footprint of national competitors to deleverage regional risks.
Competitive Moat
The primary moat is the 'Orchid' brand's 7-decade heritage and its unique positioning as an eco-friendly 5-star chain, resulting in a high 65% repeat customer rate. This sustainability is driven by over 95 national and international awards for environmental sensitivity.
Macro Economic Sensitivity
The hospitality business is highly sensitive to seasonal trends (monsoon lean period) and domestic travel demand.
Consumer Behavior
Increasing preference for environmentally sensitive and branded mid-premium stays (IRA brand growth).
Regulatory & Governance
Industry Regulations
Operations are subject to standard hospitality regulations, pollution norms (especially for the eco-friendly Orchid brand), and state-specific liquor and safety licenses.
Environmental Compliance
The company operates Asia's 1st 5-star Environment Sensitive Hotel chain, indicating high compliance and investment in eco-friendly standards.
Taxation Policy Impact
Effective tax for H1-FY26 was INR 5.3 Cr on a PBT of INR 7.4 Cr.
Legal Contingencies
The company is currently in discussions with owners regarding the expensive lease of IRA Orchid Mumbai (INR 21 Cr annual cost) to potentially convert it to a management contract.
Risk Analysis
Key Uncertainties
The immediate expensing of pre-opening costs creates short-term volatility in earnings, as seen in the 76.6% drop in H1-FY26 PAT.
Geographic Concentration Risk
High concentration in Maharashtra, specifically Mumbai and Pune, though expansion to Chandigarh and other states is underway to mitigate this.
Third Party Dependencies
Dependency on property owners for lease and management contracts; the IRA Mumbai lease represents a significant financial commitment.
Technology Obsolescence Risk
The company is mitigating digital risks by focusing on digitization and strengthening digital media sales.
