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The Indian Hotels Company Limited (INDHOTEL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹1.1T (≈ $11.2B) · ISIN INE053A01029

What is The Indian Hotels Company Limited really worth?

TI The Indian Hotels Company Limited INDHOTEL · NSE
Price₹720.00
Fair Value₹253.67
Upside−64.8%
Quality63/100

A solid business, but trading 184% above our fair value of ₹253.67.

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Strengths

Healthy Growth (revenue 5y +42.9 %/yr)
Highly profitable · 20.9% net margin
Low debt · generates free cash flow
Wide moat 79/100

Risks

!Mixed vs. peers (8/14)
!Weak on dividend: 9 out of 100

For context

·0.45% dividend yield
Evidence: High Range ₹142.69 – ₹327.62

Fair value as of: Aug 20, 2026

From 26 valuation models · updated 16 days ago

Share price −2.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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.

Price vs Fair Value (5 years)

₹883.11 ₹116.12 Fair Value ₹253.67 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range ₹116.12 – ₹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). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

The Indian Hotels Company Limited (INDHOTEL) currently trades at ₹720.00, while our model-based Fair Value estimate is ₹253.67, implying the stock looks roughly 183.8% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of ₹314.50 per share, and 0 of the 26 models we run sit above the ₹720.00 price. Bear case: the Dividend Discount group reads lowest at ₹41.35, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, The Indian Hotels Company Limited 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 20, 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

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹4.94 per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF ₹157.39 ₹301.54 ₹572.50 76
Growth DCF ₹155.76 ₹287.40 ₹530.52 75
EPV ₹131.91 ₹154.73 ₹175.01 74
All 26 models by family
DCF Models
FCF DCF ₹157.39 ₹301.54 ₹572.50 76
Owner Earnings ₹166.14 ₹318.42 ₹604.69 72
5Y Revenue Exit ₹89.22 ₹143.28 ₹215.13 72
5Y EBITDA Exit ₹180.43 ₹335.84 ₹535.21 73
5Y P/E Exit ₹207.09 ₹392.14 ₹609.49 69
10Y Revenue Exit ₹107.71 ₹168.15 ₹258.85 66
10Y EBITDA Exit ₹172.29 ₹314.50 ₹539.47 66
10Y P/E Exit ₹190.56 ₹357.29 ₹604.59 62
Earnings-Based
Graham-Dodd ₹99.57 ₹499.98 ₹690.15 64
Lynch FV ₹135.41 ₹193.44 ₹251.47 61
PEG = 1.0 ₹135.41 ₹193.44 ₹251.47 57
EPV ₹131.91 ₹154.73 ₹175.01 74
Dividend Discount
Gordon GGM ₹23.12 ₹50.48 ₹84.94 65
DDM Multi-Stage ₹23.12 ₹41.35 ₹52.61 66
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 66
EV/EBITDA ₹203.45 ₹270.39 ₹337.32 67
EV/Revenue ₹59.82 ₹84.32 ₹108.83 54
Asset-Based
NCAV (Graham) ₹45.85 ₹61.44 ₹91.70 54
Growth DCF
Growth DCF ₹155.76 ₹287.40 ₹530.52 75
Rev-Margin DCF ₹89.22 ₹143.05 ₹214.54 72
Economic Profit
Residual Income ₹101.34 ₹136.84 ₹496.60 64
ROIC Compounder ₹150.21 ₹212.35 ₹299.97 71
Growth Earnings
Growth-Adj P/E ₹211.53 ₹302.18 ₹392.84 67

Widest divergence: DCF Models (₹314.50) versus Dividend Discount (₹41.35). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 49.1
P/S ratio 10.6 P/E × margin
EPS (TTM) ₹14.66 price ÷ EPS = P/E 49.1
Dividend yield 0.5% payout 22.2%
Net margin 21.5% FY2026
Return on equity 16.4% TTM
More key figures
Profitability
Return on assets (EBIT) 12.5% avg 5y
Operating margin 31.1% TTM
Growth
Revenue (TTM) ₹99.7B TTM
Revenue growth (YoY) +14.5% 3y avg +17.9%
EPS growth (YoY) +14.7%
Balance sheet & cash flow
Free cash flow ₹15.6B FY2026
Net debt ₹10.1B FY2026 · ≈ 0.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 60

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 49
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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 Limited 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. revenue 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. revenue 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. revenue 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%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+24.5% (24.0 + 0.5)
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 184% overvalued. Compare with Marriott International, Inc →

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

Peer Group

Lodging · 165 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) 0.5% · Bottom 25%
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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE72 · sector 24
PAST66 · sector 12
HEALTH100 · sector 91
DIVIDEND9 · sector 26

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

Similar stocks

10 more Lodging stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $341.76 $132.35 −61%
Hilton Worldwide Holdings HLT $314.35 $122.07 −61%
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%
Accor SA AC €46.52 €36.87 −21%
Wyndham Hotels & Resorts, Inc WH $74.02 $23.55 −68%
Hanjin Kal, 180640 139,100 KRW 36,890 KRW −73%
Choice Hotels International, Inc CHH $105.54 $61.72 −42%
Jabal Omar Development Company 4250 18.88 SAR 11.64 SAR −38%

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Frequently asked questions

Is The Indian Hotels Company Limited (INDHOTEL) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of ₹253.67 versus a price of ₹720.00, about −65% upside (overvalued).
What is the fair value of INDHOTEL?
Our model-based fair value for The Indian Hotels Company Limited is ₹253.67 (as of Aug 20, 2026), built from audited fundamentals. The current price: ₹720.00.
What is the quality score of INDHOTEL?
The Indian Hotels Company Limited 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 Limited (INDHOTEL)?
The Indian Hotels Company Limited reported trailing-twelve-month revenue of about ₹99.7B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of INDHOTEL?
The net profit margin of The Indian Hotels Company Limited 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 Limited pay a dividend?
The Indian Hotels Company Limited currently shows a dividend yield of about 0.45% relative to its recent price (as of Aug 20, 2026).
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