Investor Presentation
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Vikram Kamats Hospitality Ltd (formerly Vidli Restaurants) filed an investor presentation covering FY25 results. Standalone revenue rose 30.9% to ₹2,389.80 lakhs, with EBIDTA surging 89.4% to ₹343.80 lakhs. Subsidiary Vitizen Hotels posted revenue of ₹1,708.40 lakhs (up 40.8%) and EBIDTA of ₹531.16 lakhs (up 50.2%). On a consolidated basis, revenue grew 33.1% to ₹4,031.71 lakhs and EBIDTA rose 57.1% to ₹840.77 lakhs. However, profit before tax declined sharply across all segments (standalone -24.8%, Vitizen -60.9%, consolidated -59.3%) due to higher finance costs and depreciation from Ind AS lease accounting. The company highlighted its asset-light expansion model with 22+ VITS hotels, 30+ Kamats restaurants, and recommended a 3% dividend for FY25.
Strong revenue and EBIDTA growth signal healthy operating momentum from the asset-light franchise and leased model, which is positive for long-term value creation. The sharp decline in PBT and net profit, driven by accounting lease costs rather than cash losses, may weigh on near-term sentiment but reflects the company's rapid hotel expansion.