Taj GVK Hotels & Resorts Limited Earnings Summary — Q4 FY2026

• Revenue from operations remained largely flat year-over-year at ₹124.16 Cr compared to ₹124.76 Cr in the same quarter last year.
• The Board recommended a dividend of ₹2 per equity share (100%), maintaining the payout ratio from the previous year.
• Profitability was slightly impacted by an incremental liability of ₹4.22 Cr recognized during the year due to new Government of India Labour Codes.
• Significant investments in asset quality continue, with ₹8.01 Cr spent during the year on renovations at Taj Deccan, Taj Chandigarh, and Taj Club House Chennai.
• The company maintains a very lean balance sheet with finance costs declining 30% YoY for the quarter to ₹1.14 Cr.
• Subsidiary Green Woods Palaces & Resorts also declared a dividend of 60% (₹6 per share), contributing to the group's cash flow.

Management is focusing on maintaining best-in-class customer satisfaction through a policy of regular hotel renovation and refurbishment, with major works currently active in Hyderabad, Chandigarh, and Chennai.

Stable

Core hospitality performance is stable despite flat top-line growth, with profitability primarily influenced by non-recurring regulatory provisions and renovation expenses.

The outlook remains positive based on the recovery in Average Daily Rates (ADRs) and a debt-free status, though reclassification of IHCL from 'Promoter' to 'Public' remains a strategic watch-point.