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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₹736.00
Fair Value₹260.68
Upside-64.6%
Quality64/100
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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 ₹172.29 – ₹392.84 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Jul 16, 2026, revised from ₹318.03 to ₹260.68 (−18.0%) since Jun 24, 2026. Share price −1.3% 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 (₹392.84). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹172.29 to ₹392.84) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹883.11 ₹90.21 Fair Value ₹260.68 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range ₹90.21 – ₹883.11 · fair‑value band ₹172.29 – ₹392.84 · the ₹736.00 price screens above the ₹260.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

The Indian Hotels Company (INDHOTEL) currently trades at ₹736.00, while our model-based Fair Value estimate is ₹260.68, implying the stock looks roughly 64.6% overvalued today. We read business quality at 64/100 (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 Jul 16, 2026

Our scenario range runs from ₹172.29 (bear case) to ₹392.84 (bull case); at ₹736.00, 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 9% below its 52-week high and 30% 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 BearBaseBull Evidence
Highest evidence
Growth DCF ₹155.76 ₹287.40 ₹530.52 80
Residual Income ₹101.34 ₹136.84 ₹496.60 76
Rev-Margin DCF ₹132.60 ₹231.89 ₹363.55 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 ₹132.60 ₹234.86 ₹375.61 39
5Y EBITDA Exit ₹191.36 ₹358.93 ₹574.23 41
5Y P/E Exit ₹192.74 ₹361.83 ₹560.17 38
10Y Revenue Exit ₹135.14 ₹237.75 ₹399.54 36
10Y EBITDA Exit ₹179.78 ₹332.05 ₹573.68 37
10Y P/E Exit ₹180.72 ₹334.26 ₹561.35 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 ₹219.65 ₹292.87 ₹366.08 63
P/S Multiple ₹127.63 ₹170.17 ₹212.72 58
P/B Multiple ₹186.70 ₹248.94 ₹311.17 55
EV/EBIT ₹246.46 ₹327.74 ₹409.01 53
EV/EBITDA ₹220.19 ₹292.70 ₹365.22 54
EV/Revenue ₹121.76 ₹172.81 ₹223.87 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 ₹132.60 ₹231.89 ₹363.55 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 ₹201.16 ₹287.37 ₹373.58 68

Widest divergence: DCF Models (₹318.42) versus Dividend Discount (₹41.35). Highest evidence: Growth DCF (80).

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 44.9
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 Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 61

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 51
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)
+17.9%
Avg. growth/yr (5Y)
+42.9%
Avg. growth/yr (21Y)
+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 · 169 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 64 · 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) 50.7× · 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 3
FUTURE 72 · sector 18
PAST 66 · sector 11
HEALTH 100 · sector 90
DIVIDEND 9 · sector 24

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 Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $369.05 $135.64 -63%
Hilton Worldwide Holdings HLT $328.48 $123.67 -62%
InterContinental Hotels Group IHG $159.87 $85.18 -47%
Hyatt Hotels Corporation H $191.00 $47.69 -75%
H World Group HTHT $42.67 $47.55 +11%
Accor SA AC €47.25 €39.26 -17%
Wyndham Hotels & Resorts, Inc WH $78.54 $24.02 -69%
Hanjin Kal, 180640 113,500 KRW 36,890 KRW -67%
Choice Hotels International, Inc CHH $111.29 $62.55 -44%
Jabal Omar Development Company 4250 16.00 SAR 11.64 SAR -27%

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Frequently asked questions

Is The Indian Hotels Company (INDHOTEL) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of ₹260.68 versus a price of ₹736.00, about −65% (overvalued).
What is the fair value of INDHOTEL?
Our model-based fair value for The Indian Hotels Company is ₹260.68 (as of Jul 16, 2026), built from audited fundamentals. The current price is ₹736.00.
What is the quality score of INDHOTEL?
The Indian Hotels Company has a Quality Score of 64/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals 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 Jul 16, 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 Jul 16, 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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