Outcome of The Board Meeting of Kamat Hotels (India) Limited Held on May 12, 2026.
KAMATHOTEL · price
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On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 1.5 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kamat Hotels reported FY2026 standalone revenue of Rs 26,353 lakhs, virtually flat vs FY2025 (Rs 26,448 lakhs), while consolidated revenue grew 8% to Rs 38,563 lakhs driven by newly consolidated subsidiary ILEX Developers. However, standalone PAT declined 20% to Rs 4,037 lakhs (vs Rs 5,037 lakhs) and consolidated PAT fell 17% to Rs 3,855 lakhs. The auditors issued an unmodified opinion but raised emphasis of matter on two ongoing matters: an Enforcement Directorate investigation where Rs 500 lakhs has been deposited with ED (cumulative provision of Rs 500 lakhs made), and a lease expiry issue at Lotus Resort Konark (extended only till September 2026). Two subsidiaries also have going concern concerns noted. Exceptional items include gratuity liability changes under new labour codes and reversal of leave benefit provision. The Board appointed Mr. Milind Wadekar as CFO effective August 1, 2026.
The PAT decline of around 20% despite flat standalone revenue signals margin pressure, though the audit opinion remains unmodified. The emphasis of matter items and subsidiary going concern notes add risk visibility. The stock may face cautious sentiment due to profitability decline and legal/lease uncertainties.