Submission of Transcript of Q4-FY26 Earnings Conference Call held on May 13, 2026.
KAMATHOTEL · price
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Kamat Hotels reported Q4 FY26 revenue of INR 110 crore (+19% YoY) with EBITDA of INR 32 crore (29% margin) and PAT of INR 18 crore (+59% YoY). For full year FY26, revenue stood at INR 386 crore (+8%) with EBITDA of INR 97 crore (25.1% margin) and PAT of INR 39 crore. The IRA Mumbai property closure will result in INR 50 crore top-line decline but improve EBITDA by INR 1-2 crore as it was marginally draining. The company added 250-260 hotel keys in FY26 with an EBITDA drag of ~INR 10 crore, expected to be absorbed as properties mature. Labor costs increased ~INR 4 crore due to new wage code (permanent impact). New CFO Mr. Milind Wadekar (from Chalet Hotels) has been appointed. Project delays continue due to supply chain issues (LPG crisis affecting materials). Company has INR 86 crore debt at 9.75% interest and INR 35-40 crore cash reserves.
The IRA Mumbai closure and new hotel ramp-up costs will likely cause top-line degrowth in FY27, but EBITDA margins should improve as recently opened properties mature and stabilize. The new experienced CFO from Chalet Hotels should help improve financial controls and investor relations.