ITC Hotels (ITCHOTELS) Q2 25/26 earnings summary

Executive summary

• Achieved record revenue and profits in Q2 and H1 FY26, with consolidated total income up 13% and PAT up 74% year-over-year despite seasonal headwinds.

• Robust growth across all revenue streams, with new premium brand Epiq Collection launched to accelerate portfolio premiumization.

• Accelerated hotel signings and openings, expanding the portfolio to 207 hotels with over 19,500 keys.

• Board approved unaudited standalone and consolidated financial results for the quarter and six months ended 30th September 2025, including segment-wise data, balance sheet, and cash flows.

• Board recommended a new Employee Stock Appreciation Rights Scheme, earmarking up to 2% of share capital.

Financial highlights

• Consolidated Q2 FY26 total income: ₹885 Cr (up 13% YoY); EBITDA: ₹246 Cr (up 16% YoY); PAT: ₹133 Cr (up 74% YoY).

• H1 FY26 consolidated total income: ₹1,745 Cr (up 17% YoY); EBITDA: ₹490 Cr (up 17% YoY); PAT: ₹267 Cr (up 63% YoY).

• Standalone Q2 FY26 total income: ₹806.07 Cr (up from ₹713.23 Cr YoY); PAT: ₹151.63 Cr (up from ₹104.86 Cr YoY).

• Earnings per share (EPS) for Q2 FY26 stood at ₹0.73 (standalone) and ₹0.64 (consolidated), compared to ₹0.50 and ₹0.37 respectively in Q2 FY25.

• EBITDA margin improved to 29% in Q2 FY26 (up 200 bps YoY) and 30% in H1 FY26 (up 150 bps YoY).

Outlook and guidance

• Long-term industry outlook remains robust, supported by limited new supply and sustained economic growth.

• Targeting 220+ operational hotels and 20,000+ keys by 2030, with two-thirds managed portfolio.

• Focus on asset-right strategy, digital transformation, and sustainability to drive future growth.

• Board and management highlighted ongoing business integration post-demerger and continued focus on core hotel services.