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The Indian Hotels Company (INDHOTEL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹1.1T

TI The Indian Hotels Company INDHOTEL · NSE
Price₹720.00
Fair Value₹253.67
Upside-64.8%
Quality63/100
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Healthy Growth
Highly profitable · 20.9% net margin
Low debt · generates free cash flow
0.44% dividend yield
Mixed vs. peers (8/14)
Wide moat 79/100
Evidence: Medium Range ₹142.69 – ₹327.62 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from ₹260.68 to ₹253.67 (−2.7%) since Jul 16, 2026. Share price −3.1% over the past month.

A solid business, but screening 65% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹327.62). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹142.69 to ₹327.62) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹883.11 ₹103.74 Fair Value ₹253.67 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹103.74 – ₹883.11 · fair‑value band ₹142.69 – ₹327.62 · the ₹720.00 price screens above the ₹253.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

The Indian Hotels Company (INDHOTEL) currently trades at ₹720.00, while our model-based Fair Value estimate is ₹253.67, implying the stock looks roughly 64.8% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, The Indian Hotels Company generated revenue of ₹99.7B at a net margin of 20.9%. Revenue grew 14.5% year over year. It earns a return on equity of 16.4%. Net debt stands at ₹10.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹142.69 (bear case) to ₹327.62 (bull case); at ₹720.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -47% fair-value upside, at -65%, INDHOTEL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹155.76 ₹287.40 ₹530.52 80
Residual Income ₹101.34 ₹136.84 ₹496.60 76
Rev-Margin DCF ₹89.22 ₹143.05 ₹214.54 74
All 26 models by family
DCF Models
FCF DCF ₹157.39 ₹301.54 ₹572.50 38
Owner Earnings ₹166.14 ₹318.42 ₹604.69 31
5Y Revenue Exit ₹89.22 ₹143.28 ₹215.13 39
5Y EBITDA Exit ₹180.43 ₹335.84 ₹535.21 41
5Y P/E Exit ₹207.09 ₹392.14 ₹609.49 38
10Y Revenue Exit ₹107.71 ₹168.15 ₹258.85 36
10Y EBITDA Exit ₹172.29 ₹314.50 ₹539.47 37
10Y P/E Exit ₹190.56 ₹357.29 ₹604.59 35
Earnings-Based
Graham-Dodd ₹99.57 ₹499.98 ₹690.15 54
Lynch FV ₹135.41 ₹193.44 ₹251.47 50
PEG = 1.0 ₹135.41 ₹193.44 ₹251.47 46
EPV ₹131.91 ₹154.73 ₹175.01 59
Dividend Discount
Gordon GGM ₹23.12 ₹50.48 ₹84.94 70
DDM Multi-Stage ₹23.12 ₹41.35 ₹52.61 61
Multiples
P/E Multiple ₹241.62 ₹322.15 ₹402.69 63
P/S Multiple ₹61.26 ₹81.68 ₹102.10 58
P/B Multiple ₹186.70 ₹248.94 ₹311.17 55
EV/EBIT ₹246.46 ₹327.74 ₹409.01 53
EV/EBITDA ₹203.45 ₹270.39 ₹337.32 54
EV/Revenue ₹59.82 ₹84.32 ₹108.83 43
Asset-Based
NCAV (Graham) ₹45.85 ₹61.44 ₹91.70 50
Growth DCF
Growth DCF ₹155.76 ₹287.40 ₹530.52 80
Rev-Margin DCF ₹89.22 ₹143.05 ₹214.54 74
Economic Profit
Residual Income ₹101.34 ₹136.84 ₹496.60 76
ROIC Compounder ₹150.21 ₹212.35 ₹299.97 72
Growth Earnings
Growth-Adj P/E ₹211.53 ₹302.18 ₹392.84 68

Widest divergence: DCF Models (₹314.50) versus Dividend Discount (₹41.35). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹99.7B
Revenue growth (YoY) +14.5%
Net margin 20.9%
Return on equity 16.4%
Free cash flow ₹15.6B FY2026
P/E ratio 49.1
More key figures
Operating margin 31.1%
EPS (TTM) ₹14.66
Dividend yield 0.5%
EPS growth (YoY) +14.7%
Net debt ₹10.1B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 58

Profitability 59
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

The Indian Hotels Company Limited, together with its subsidiaries, owns, operates, and manages hotels, palaces and resorts in India and internationally. It operates through two segments: Hotel Services and Air and Institutional Catering.

Full company description

The Indian Hotels Company Limited, together with its subsidiaries, owns, operates, and manages hotels, palaces and resorts in India and internationally. It operates through two segments: Hotel Services and Air and Institutional Catering. The company operates hotels under the Taj, Claridges Collection, SeleQtions, GATEWAY, Vivanta, Ginger, Tree of Life, amã Stays & Trails, Qmin, and Taj Sats brand names. It also provides trails, stays, restaurants, bars, clubs, spas, salons, food and beverages, and boutique services. The Indian Hotels Company Limited was founded in 1868 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

The Indian Hotels Company reported revenue of ₹96.9B in FY2026 versus ₹31.3B in FY2022, a compound +32.7%/yr. Reported net income was ₹20.8B in FY2026.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹96.9B
Latest YoY
+13.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+42.9%
Avg. growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.0%
Revenue +32.7%/yr
FY22 ₹31.3B
FY23 ₹59.1B
FY24 ₹69.2B
FY25 ₹85.6B
FY26 ₹96.9B
Net income
FY22 −₹2.5B
FY23 ₹10.0B
FY24 ₹12.6B
FY25 ₹19.1B
FY26 ₹20.8B

INDHOTEL screens 65% overvalued. Compare with Marriott International, Inc →

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Cite: Fair Value Calculator (2026). "The Indian Hotels Company Fair Value". https://www.fairvalue-calculator.com/stock/INDHOTEL

Peer Group

Lodging · 167 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 63 · Top 25%
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 31% · Top 25%
Revenue growth 14% · Top 25%
Dividend yield (TTM) 0.4% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Lodging median · lower = cheaper

P/E (TTM) 49.1× · Pricier than 75% of peers
P/B 8.11× · Pricier than 75% of peers
P/S (TTM) 10.62× · Pricier than 75% of peers
P/FCF 0.7× · Cheaper than median
EV/EBITDA 31.6× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 72 · sector 19
PAST 66 · sector 11
HEALTH 100 · sector 91
DIVIDEND 9 · sector 23

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Lodging stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $354.58 $132.35 -63%
Hilton Worldwide Holdings HLT $322.53 $122.02 -62%
InterContinental Hotels Group IHG $161.82 $85.18 -47%
Hyatt Hotels Corporation H $178.37 $46.78 -74%
H World Group HTHT $41.25 $47.78 +16%
Hanjin Kal, 180640 118,200 KRW 36,890 KRW -69%
Jabal Omar Development Company 4250 16.00 SAR 11.64 SAR -27%
Makkah Construction and Development Company 4100 81.95 SAR 36.25 SAR -56%
Minor International Public Company MINT 22.90 THB 32.82 THB +43%
Shanghai Jin Jiang International Hotels Co 600754 ¥19.48 ¥22.37 +15%

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Frequently asked questions

Is The Indian Hotels Company (INDHOTEL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹253.67 versus a price of ₹720.00, about −65% (overvalued).
What is the fair value of INDHOTEL?
Our model-based fair value for The Indian Hotels Company is ₹253.67 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹720.00.
What is the quality score of INDHOTEL?
The Indian Hotels Company has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of The Indian Hotels Company (INDHOTEL)?
The Indian Hotels Company reported trailing-twelve-month revenue of about ₹99.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of INDHOTEL?
The net profit margin of The Indian Hotels Company is about 20.9%, meaning it keeps roughly 20.9% of revenue as net income. Based on the latest reported figures.
Does The Indian Hotels Company pay a dividend?
The Indian Hotels Company currently shows a dividend yield of about 0.49% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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