Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹14.31 (vs ₹15.07 in FY 2025) Full year 2026 results: EPS: ₹14.31 (down from ₹15.07 in FY 2025). Revenue: ₹4.03b (down 1.2% from FY 2025). Net income: ₹871.7m (down 5.1% from FY 2025). Profit margin: 22% (in line with FY 2025). Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: ₹6.66 (vs ₹6.55 in 3Q 2025) Third quarter 2026 results: EPS: ₹6.66 (up from ₹6.55 in 3Q 2025). Revenue: ₹1.34b (flat on 3Q 2025). Net income: ₹405.9m (up 1.7% from 3Q 2025). Profit margin: 30% (in line with 3Q 2025). Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹0.45 (vs ₹0.34 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.45 (up from ₹0.34 in 2Q 2025). Revenue: ₹627.9m (down 11% from 2Q 2025). Net income: ₹27.7m (up 33% from 2Q 2025). Profit margin: 4.4% (up from 2.9% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 21
Upcoming dividend of ₹3.50 per share Eligible shareholders must have bought the stock before 28 July 2025. Payment date: 03 September 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.4%). Reported Earnings • Jul 13
Full year 2025 earnings released: EPS: ₹15.07 (vs ₹13.30 in FY 2024) Full year 2025 results: EPS: ₹15.07 (up from ₹13.30 in FY 2024). Revenue: ₹4.27b (up 11% from FY 2024). Net income: ₹918.5m (up 13% from FY 2024). Profit margin: 22% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • May 18
EIH Associated Hotels Limited Recommends Final Dividend for the Financial Year 2024-25, payable on August 31, 2025 EIH Associated Hotels Limited at its board meeting held on May 16, 2025, recommended a final dividend at 35%, that is INR 3.5 per equity share having face value of INR 10 per each, to the Shareholders for the Financial Year 2024-25. The Company has fixed 28 July 2025 as the record date for determining the list of eligible shareholders to receive the Final Dividend for the Financial Year 2024-25, if approved at the Forty Second (42nd) Annual General Meeting of the Company, scheduled to be held on 04 August, 2025. Payment of such dividend is subject to deduction of tax at source and will be made on or before 31 August 2025. Announcement • May 16
EIH Associated Hotels Limited, Annual General Meeting, Aug 04, 2025 EIH Associated Hotels Limited, Annual General Meeting, Aug 04, 2025. Announcement • May 10
EIH Associated Hotels Limited to Report Q4, 2025 Results on May 16, 2025 EIH Associated Hotels Limited announced that they will report Q4, 2025 results at 9:15 AM, Indian Standard Time on May 16, 2025 Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: ₹6.55 (vs ₹6.22 in 3Q 2024) Third quarter 2025 results: EPS: ₹6.55 (up from ₹6.22 in 3Q 2024). Revenue: ₹1.33b (up 5.0% from 3Q 2024). Net income: ₹399.1m (up 5.4% from 3Q 2024). Profit margin: 30% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹407, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 35x in the Hospitality industry in India. Total returns to shareholders of 120% over the past three years. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹0.34 (vs ₹0.15 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.34 (up from ₹0.15 loss in 2Q 2024). Revenue: ₹751.1m (up 28% from 2Q 2024). Net income: ₹20.8m (up ₹30.0m from 2Q 2024). Profit margin: 2.8% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹412, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 42x in the Hospitality industry in India. Total returns to shareholders of 178% over the past three years. Upcoming Dividend • Aug 06
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 13 August 2024. Payment date: 31 August 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.4%). Reported Earnings • Jul 16
Full year 2024 earnings released: EPS: ₹26.59 (vs ₹21.21 in FY 2023) Full year 2024 results: EPS: ₹26.59 (up from ₹21.21 in FY 2023). Revenue: ₹3.85b (up 14% from FY 2023). Net income: ₹810.3m (up 25% from FY 2023). Profit margin: 21% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹832, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 37x in the Hospitality industry in India. Total returns to shareholders of 138% over the past three years. Declared Dividend • May 26
Dividend increased to ₹6.00 Dividend of ₹6.00 is 20% higher than last year. Ex-date: 29th July 2024 Payment date: 31st August 2024 Dividend yield will be 0.8%, which is higher than the industry average of 0.3%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 25
Full year 2024 earnings released: EPS: ₹26.59 (vs ₹21.21 in FY 2023) Full year 2024 results: EPS: ₹26.59 (up from ₹21.21 in FY 2023). Revenue: ₹3.98b (up 18% from FY 2023). Net income: ₹810.3m (up 25% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Announcement • May 25
EIH Associated Hotels Limited Proposes Final Dividend for the Financial Year 2023-24, Payable on or Before August 31, 2024 EIH Associated Hotels Limited at its board meeting held on May 24, 2024 recommended a final dividend at 60%, that is, INR 6 per equity share of face value INR 10 each, fully paid up, to the Shareholders for the Financial Year 2023-24. Payment of such dividend is subject to deduction of tax at source and will be made on or before, 31st August 2024. Record date is July 29, 2024. Announcement • May 19
EIH Associated Hotels Limited to Report Q4, 2024 Results on May 24, 2024 EIH Associated Hotels Limited announced that they will report Q4, 2024 results on May 24, 2024 Announcement • Mar 30
EIH Associated Hotels Limited Announces Anil Kumar Nehru Completes His Term as Independent Director, with Effect from the Close of Business Hours on 31 March 2024 EIH Associated Hotels Limited announced that Mr. Anil Kumar Nehru (DIN:00038849) will complete his term as an Independent Director with effect from the close of business hours on 31 March 2024. New Risk • Feb 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: ₹12.43 (vs ₹9.90 in 3Q 2023) Third quarter 2024 results: EPS: ₹12.43 (up from ₹9.90 in 3Q 2023). Revenue: ₹1.30b (up 17% from 3Q 2023). Net income: ₹378.8m (up 26% from 3Q 2023). Profit margin: 29% (up from 27% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
EIH Associated Hotels Limited to Report Q3, 2024 Results on Feb 05, 2024 EIH Associated Hotels Limited announced that they will report Q3, 2024 results on Feb 05, 2024 Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹587, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 32x in the Hospitality industry in India. Total returns to shareholders of 113% over the past three years. Reported Earnings • Nov 03
Second quarter 2024 earnings released: ₹0.30 loss per share (vs ₹0.85 profit in 2Q 2023) Second quarter 2024 results: ₹0.30 loss per share (down from ₹0.85 profit in 2Q 2023). Revenue: ₹618.1m (up 5.6% from 2Q 2023). Net loss: ₹9.15m (down 135% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Oct 26
EIH Associated Hotels Limited to Report Q2, 2024 Results on Nov 02, 2023 EIH Associated Hotels Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Announcement • Oct 11
EIH Associated Hotels Limited Announces Resignation of Shib Sanker Mukherji as Chairman and Director EIH Associated Hotels Limited announced that Mr. Shib Sanker Mukherji has resigned from the office of Chairman and Director of the Company with effect from 10th October 2023 due to personal reasons. Announcement • Aug 01
EIH Associated Hotels Limited to Report Q1, 2024 Results on Aug 07, 2023 EIH Associated Hotels Limited announced that they will report Q1, 2024 results on Aug 07, 2023 Upcoming Dividend • Jul 24
Upcoming dividend of ₹5.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 31 July 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.4%). Reported Earnings • Jul 21
Full year 2023 earnings released: EPS: ₹21.21 (vs ₹4.23 in FY 2022) Full year 2023 results: EPS: ₹21.21 (up from ₹4.23 in FY 2022). Revenue: ₹3.37b (up 73% from FY 2022). Net income: ₹646.2m (up 402% from FY 2022). Profit margin: 19% (up from 6.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
EIH Associated Hotels Limited, Annual General Meeting, Aug 07, 2023 EIH Associated Hotels Limited, Annual General Meeting, Aug 07, 2023, at 15:30 Indian Standard Time. Reported Earnings • May 18
Full year 2023 earnings released: EPS: ₹21.21 (vs ₹4.23 in FY 2022) Full year 2023 results: EPS: ₹21.21 (up from ₹4.23 in FY 2022). Revenue: ₹3.44b (up 76% from FY 2022). Net income: ₹646.2m (up 402% from FY 2022). Profit margin: 19% (up from 6.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • May 17
EIH Associated Hotels Limited Recommends Final Dividend for the Financial Year 2022-23 The Board of Directors of EIH Associated Hotels Limited at their meeting held on May 16, 2023, has decided to recommend a final dividend at 50%, that is INR 5 per equity share of face value INR 10 each to the Shareholders for the financial year 2022-23. Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹9.90 (vs ₹5.25 in 3Q 2022) Third quarter 2023 results: EPS: ₹9.90 (up from ₹5.25 in 3Q 2022). Revenue: ₹1.12b (up 47% from 3Q 2022). Net income: ₹301.7m (up 89% from 3Q 2022). Profit margin: 27% (up from 21% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Announcement • Feb 03
EIH Associated Hotels Limited to Report Q3, 2023 Results on Feb 09, 2023 EIH Associated Hotels Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Non-Executive Independent Director Surin Kapadia was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: ₹0.85 (vs ₹0.02 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹0.85 (up from ₹0.02 loss in 2Q 2022). Revenue: ₹598.8m (up 33% from 2Q 2022). Net income: ₹26.0m (up ₹26.6m from 2Q 2022). Profit margin: 4.3% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Jul 08
Full year 2022 earnings released: EPS: ₹4.23 (vs ₹8.78 loss in FY 2021) Full year 2022 results: EPS: ₹4.23 (up from ₹8.78 loss in FY 2021). Revenue: ₹1.95b (up 93% from FY 2021). Net income: ₹128.8m (up ₹396.2m from FY 2021). Profit margin: 6.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Jul 02
EIH Associated Hotels Limited, Annual General Meeting, Jul 26, 2022 EIH Associated Hotels Limited, Annual General Meeting, Jul 26, 2022, at 16:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹325, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 48x in the Hospitality industry in India. Total loss to shareholders of 6.9% over the past three years. Reported Earnings • May 03
Full year 2022 earnings released: EPS: ₹4.23 (vs ₹8.78 loss in FY 2021) Full year 2022 results: EPS: ₹4.23 (up from ₹8.78 loss in FY 2021). Revenue: ₹1.98b (up 95% from FY 2021). Net income: ₹128.8m (up ₹396.2m from FY 2021). Profit margin: 6.5% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Non-Executive Independent Director Surin Kapadia was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
EIH Associated Hotels Announces Resignation of L. Ganesh as Independent Director EIH Associated Hotels Limited announced that Mr. L. Ganesh (DIN: 00012583), Independent Director has resigned from the Board of Directors 7th March 2022. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹5.25 (up from ₹0.04 in 3Q 2021). Revenue: ₹766.5m (up 108% from 3Q 2021). Net income: ₹160.0m (up ₹158.6m from 3Q 2021). Profit margin: 21% (up from 0.4% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 30
Second quarter 2022 earnings released: ₹0.02 loss per share (vs ₹3.52 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: ₹458.4m (up 243% from 2Q 2021). Net loss: ₹605.0k (loss narrowed 99% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 11
Director Radhika Haribhakti has joined 5th company board Non-Executive Independent Director Radhika Haribhakti has been appointed to the board of Torrent Power Limited (NSEI:TORNTPOWER). Haribhakti now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Reported Earnings • Jul 09
Full year 2021 earnings released: ₹8.78 loss per share (vs ₹12.46 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: ₹1.01b (down 60% from FY 2020). Net loss: ₹267.4m (down 170% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 05
EIH Associated Hotels Limited Recommends to Omit Dividend for the Financial Year 2020-2021 EIH Associated Hotels Limited at its AGM to be held on July 27, 2021 announced that the Board has not recommended any Dividend for the Financial Year 2020- 2021. Reported Earnings • May 05
Full year 2021 earnings released: ₹8.78 loss per share (vs ₹12.46 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: ₹1.04b (down 59% from FY 2020). Net loss: ₹267.4m (down 170% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 29
Third quarter 2021 earnings released: EPS ₹0.04 (vs ₹6.69 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹371.1m (down 58% from 3Q 2020). Net income: ₹1.37m (down 99% from 3Q 2020). Profit margin: 0.4% (down from 23% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Jan 07
EIH Associated Hotels Limited to Report Q2, 2021 Results on Jan 28, 2021 EIH Associated Hotels Limited announced that they will report Q2, 2021 results on Jan 28, 2021 Is New 90 Day High Low • Dec 14
New 90-day high: ₹301 The company is up 23% from its price of ₹244 on 15 September 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 29
New 90-day high: ₹260 The company is up 3.0% from its price of ₹253 on 31 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 9.0% over the same period. Reported Earnings • Nov 04
Second quarter 2021 earnings released: ₹3.52 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: ₹142.1m (down 70% from 2Q 2020). Net loss: ₹107.4m (down 312% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Oct 15
New 90-day low: ₹222 The company is down 7.0% from its price of ₹238 on 17 July 2020. The Indian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 22% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: ₹230 The company is down 9.0% from its price of ₹255 on 23 June 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 26% over the same period. 
