ITC Hotels Limited
Quality Scores
AI Summary
ITC Hotels is a premier Indian hospitality entity following its strategic demerger from ITC Limited, effective January 2025. The business operates an expansive portfolio of over 200 hotels across 90+ destinations, utilizing a multi-brand strategy including ITC Hotels, Mementos, and Welcomhotel. With a market capitalization of ₹38,056 Cr, the company exhibits a strong balance sheet characterized by near-zero net debt and robust operating margins of 34-35%. Post-demerger, the business has successfully transitioned to an independent listing, leveraging a mix of owned assets and an 'asset-right'…
Top Opportunities
- Almost debt-free balance sheet with high interest coverage
- Strong operating margins sustained above 34%
- Aggressive free cash flow generation growth
Top Risks
- Low Return on Equity (ROE) trailing peer leaders
- Significant increase in working capital days to 116
- Large anomaly in inventory days (1209) in FY26 disclosure
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