The Indian Hotels Company Limited (INDHOTEL) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of The Indian Hotels Company Limited stock ₹502, price ₹875, that is 42.6% below the price, quality 63 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range ₹131.52 – ₹883.11 · fair‑value band ₹286.96 – ₹785.68 · the ₹875.00 price screens above the ₹502.32 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. As of Nov 2, 2026.
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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.
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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.
Stock analysis
The Indian Hotels Company Limited (INDHOTEL) currently trades at ₹875.00, while our model-based Fair Value estimate is ₹502.32, 43% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹302.18 per share, and 0 of the 26 models we run sit above the ₹875.00 price.
Bear case: the Asset-Based group reads lowest at ₹52.72, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹286.96 (bear) to ₹785.68 (bull), the price of ₹875.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap ₹1.2T (≈ $13.2B) Large · P/E ratio 55.1 · P/S ratio 11.6 · EPS (TTM) ₹15.87 · Dividend yield 0.4% · Net margin 20.6% · Return on equity 16.5% · Return on assets (EBIT) 12.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −16% fair-value upside, at −43%, INDHOTEL screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹28.25 to ₹499.98). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear₹286.96Fair Value ₹502.32Bull₹785.68
Price ₹875.00 · Downside -42.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹7.57 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+42.9%
Start year 2021 (pandemic). Over 10 years: +8.9% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.0%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. 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.
≈ +24.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.0%
Dividend (yield on the price)0.4%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−19% → 27%
⚠ Rate on operating basis: 2026 sits 65% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+42.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +36.5% a year for the price and +7.5% for the forecasts.
Compare The Indian Hotels Company Limited with another stock
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Peer Groupⓘ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.Lodging · 161 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−42.6% · Below median
Profitability
Return on equity (12 months)16.5% · Top 25%
Return on assets10.3% · Top 25%
Net margin (12 months)20.6% · Top 25%
Operating margin (12 months)23.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.8% · Top 25%
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Lodging median · lower = cheaper
P/E (12 months)55.1× · Priciest 25%
P/B9.55× · Priciest 25%
P/S (12 months)11.63× · Priciest 25%
Price / free cash flow79.7× · Priciest 25%
EV/EBITDA34.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 24
FUTURE (revenue growth)100· sector 29
PAST (return on equity)66· sector 15
HEALTH (low debt)100· sector 89
DIVIDEND (yield)7· sector 32
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "The Indian Hotels Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/INDHOTEL
Frequently asked questions
Is The Indian Hotels Company Limited (INDHOTEL) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of ₹502.32 versus a price of ₹875.00, about 43% lower (overvalued).
What is the fair value of INDHOTEL?
Our model-based fair value for The Indian Hotels Company Limited is ₹502.32 (as of Nov 2, 2026), built from audited fundamentals. The current price: ₹875.00.
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 price target for The Indian Hotels Company Limited (INDHOTEL)?
Our model-based price target is the fair value of ₹502.32 (as of Nov 2, 2026) from 26 valuation models. Cautious scenario ₹286.96, optimistic scenario ₹785.68. It is a calculation from audited fundamentals, not an analyst target.
What is the The Indian Hotels Company Limited stock forecast for 2026?
Our models put fair value at ₹502.32, about 43% lower versus a price of ₹875.00 (overvalued). Cautious scenario ₹286.96, optimistic scenario ₹785.68. The calculation is refreshed regularly with new filings.
What is the revenue of The Indian Hotels Company Limited (INDHOTEL)?
The Indian Hotels Company Limited reported trailing-twelve-month revenue of about ₹107B (latest available figure, as of Nov 2, 2026).
Does The Indian Hotels Company Limited pay a dividend?
The Indian Hotels Company Limited currently shows a dividend yield of 0.37% relative to its recent price (as of Nov 2, 2026).
What growth is priced into The Indian Hotels Company Limited (INDHOTEL)?
For today's price to be fair in a discounted-cash-flow model, The Indian Hotels Company Limited would have to grow free cash flow by +42.2 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +42.9 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of INDHOTEL use?
Our models discount The Indian Hotels Company Limited at 11.9 %: a base by market capitalisation (large), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For The Indian Hotels Company Limited that is +42.2 % per year a year over ten years, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has The Indian Hotels Company Limited (INDHOTEL) delivered so far?
Over the past 5 years revenue at The Indian Hotels Company Limited grew +42.9 % a year. The price currently implies +42.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of The Indian Hotels Company Limited (INDHOTEL) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into The Indian Hotels Company Limited (+42.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of The Indian Hotels Company Limited (INDHOTEL)?
The free-cash-flow yield on the price is 1.25 %: that much free cash flow The Indian Hotels Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of The Indian Hotels Company Limited (INDHOTEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For The Indian Hotels Company Limited it is ₹502.32 per share (as of Nov 2, 2026), against a price of ₹875.00. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is The Indian Hotels Company Limited stock overvalued or undervalued in 2026?
As of Nov 2, 2026, INDHOTEL trades above its calculated fair value: price ₹875.00, fair value ₹502.32, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of INDHOTEL?
No. The price is what the market pays today (₹875.00); the fair value is what the company's own numbers justify (₹502.32). For The Indian Hotels Company Limited the two are ₹372.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is The Indian Hotels Company Limited worth?
The market values The Indian Hotels Company Limited at about ₹1.2T (market capitalisation, as of Nov 2, 2026). Per share that is ₹875.00; our models calculate a fair value of ₹502.32 per share.
What do the bullish and bearish scenarios say about INDHOTEL?
Our models span a range for The Indian Hotels Company Limited: cautious scenario ₹286.96, base ₹502.32, optimistic ₹785.68 per share (as of Nov 2, 2026, price ₹875.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INDHOTEL?
The Indian Hotels Company Limited trades at a price-to-earnings ratio of 55.1 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹502.32 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2018 to 2026), reported earnings: 58.8. Other multiples: P/B 9.6, P/S 11.6, EV/EBITDA 34.8.
How solid is the balance sheet of The Indian Hotels Company Limited (INDHOTEL)?
Balance-sheet figures for The Indian Hotels Company Limited (as of Nov 2, 2026): return on equity 16.5%, debt of 0.00 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is INDHOTEL from its 52-week high?
The Indian Hotels Company Limited trades at ₹875.00, at its 52-week high of ₹875.00 and 54% above the low of ₹568.42 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹502.32 is for.
Which stocks are comparable to The Indian Hotels Company Limited?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, Hyatt Hotels Corporation, H World Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is The Indian Hotels Company Limited stock attractive at the current price?
The data as of Nov 2, 2026: price ₹875.00, calculated fair value ₹502.32 (−43%), Quality Score 63/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of INDHOTEL calculated?
We run The Indian Hotels Company Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹502.32, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. The Indian Hotels Company Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of The Indian Hotels Company Limited (INDHOTEL)?
The closing price on Nov 5, 2026 was ₹875.00. Our model-based fair value is ₹502.32, about 43% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with The Indian Hotels Company Limited right now?
The price sits above even our optimistic bull case (₹785.68). The favourable scenario is already priced in. The model range is unusually wide (₹286.96 to ₹785.68). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of The Indian Hotels Company Limited
How large is the market capitalisation of The Indian Hotels Company Limited (INDHOTEL)?
The market capitalisation of The Indian Hotels Company Limited is ₹1.2T (≈ $13.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of The Indian Hotels Company Limited (INDHOTEL)?
The price-to-sales ratio of The Indian Hotels Company Limited is 11.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of The Indian Hotels Company Limited (INDHOTEL)?
Earnings per share at The Indian Hotels Company Limited are ₹15.87 (price ÷ EPS = P/E 55.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of The Indian Hotels Company Limited (INDHOTEL)?
The dividend yield of The Indian Hotels Company Limited is 0.4% (payout 20.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of The Indian Hotels Company Limited (INDHOTEL)?
The net margin of The Indian Hotels Company Limited is 20.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of The Indian Hotels Company Limited (INDHOTEL)?
The return on equity (ROE) of The Indian Hotels Company Limited is 16.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of The Indian Hotels Company Limited (INDHOTEL)?
On an EBIT basis the return on assets of The Indian Hotels Company Limited is 12.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of The Indian Hotels Company Limited (INDHOTEL)?
The operating margin of The Indian Hotels Company Limited is 23.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at The Indian Hotels Company Limited (INDHOTEL)?
Revenue at The Indian Hotels Company Limited is growing +20.8% versus a year earlier (3y avg +17.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at The Indian Hotels Company Limited (INDHOTEL)?
Earnings per share at The Indian Hotels Company Limited are growing +23.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does The Indian Hotels Company Limited (INDHOTEL) carry?
The net debt of The Indian Hotels Company Limited is ₹10.1B (fiscal year 2026, ≈ 0.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 2, 2026