Integrated Filing — IndAS



General information about company

Scrip Code 544325
NSE Symbol ITCHOTELS
MSEI Symbol NOTLISTED
ISIN INE379A01028
Name of company ITC Hotels Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 15-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 08-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 15-05-2026   13:50:00
End date and time of board meeting 15-05-2026   15:10:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 1,25,370.00 4,13,940.00
Other income 5,275.00 19,194.00
Total income 1,30,645.00 4,33,134.00
2 Expenses
(a) Cost of materials consumed 18,252.00 51,278.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 20,260.00 78,289.00
(e) Finance costs 217.00 793.00
(f) Depreciation, depletion and amortisation expense 10,578.00 41,651.00
(f) Other Expenses
1 Other expenses 40,228.00 1,41,995.00
Total other expenses 40,228.00 1,41,995.00
Total expenses 89,535.00 3,14,006.00
3 Total profit before exceptional items and tax 41,110.00 1,19,128.00
4 Exceptional items 383.00 (8,017.00)
5 Total profit before tax 41,493.00 1,11,111.00
6 Tax expense
7 Current tax 10,586.00 29,046.00
8 Deferred tax (493.00) 1,126.00
9 Total tax expenses 10,093.00 30,172.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 31,400.00 80,939.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 343.00 1,187.00
16 Total profit (loss) for period 31,743.00 82,126.00
17 Other comprehensive income net of taxes 10,059.00 11,609.00
18 Total Comprehensive Income for the period 41,802.00 93,735.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 31,589.00 81,689.00
Total profit or loss, attributable to non-controlling interests 154.00 437.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 41,643.00 93,293.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 159.00 442.00
21 Details of equity share capital
Paid-up equity share capital 20,830.00 20,830.00
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 11,44,952.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.52 3.92
Diluted earnings (loss) per share from continuing operations 1.52 3.92
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.52 3.92
Diluted earnings (loss) per share from continuing and discontinued operations 1.52 3.92
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. ‘Revenue from operations’ includes ‘Gross Revenue from sale of products and services’ and ‘Other operating revenue’. 2. ‘Cost of materials consumed’ includes ‘Consumption of food, beverage, etc.’ and ‘Real estate development cost’. 3. ‘Depreciation, depletion and amortisation expense’ should be read as ‘Depreciation and amortization expense’. The figures for the 3 months ended 31.03.2026 and corresponding 3 months ended 31.03.2025 are the balancing figures between the audited figures in respect of the full financial year and the year to date figures upto the third quarter of the respective financial years. NOTES TO STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND TWELVE MONTHS ENDED 31.03.2026 1. The Audited Consolidated Financial Results and Segment Results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 15th May, 2026. 2. The Hon’ble National Company Law Tribunal, Kolkata Bench, vide Order dated 4th October, 2024, approved the Scheme of Arrangement amongst ITC Limited and the Company and their respective Shareholders and Creditors under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013 (‘Scheme’) for demerger of the Hotels Business of ITC Limited ('Demerged Undertaking') into the Company on a going concern basis. The Appointed Date and Effective Date of the Scheme was 1st January, 2025. In accordance with the accounting treatment specified in the Scheme and in terms of applicable Accounting Standards (Ind AS), the figures for the year ended 31st March, 2025 include the results of the Company and the Demerged Undertaking, from the date of incorporation of the Company. 3. 1,22,721 Equity Shares of Re. 1/- each were issued and allotted under the ITC Hotels Special Purpose Employee Stock Option Scheme during the quarter ended 31st March, 2026. Consequently, the issued and paid-up Share Capital of the Company stands increased to Rs. 2,08,29,76,309/- as on 31st March, 2026. 4. Earnings per share (Basic & Diluted) are calculated after considering the impact of issuance of equity shares from the date of incorporation of the Company. 5. Exceptional items for the year ended 31st March, 2026 represent: i) estimated one time impact on recognition of past service cost of Rs. 54.19 Crores (Rs. 55.42 Crores for the quarter ended 31st December, 2025) with respect to gratuity and compensated absences pursuant to notifications issued by the Ministry of Labour & Employment dated 21st November, 2025 bringing into force the provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the New Labour Codes). The Group continues to monitor the finalization of rules by the Government and other related aspects of the New Labour Codes and will appropriately account for such changes, if required. ii) net loss of Rs. 25.98 Crores (Rs. 28.58 Crores for the quarter ended 31st December, 2025) on account of inventory and capital work-in-progress damaged due to cyclone Ditwah in Sri Lanka net of insurance claim receivable. 6. The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of Re. 1/- per Equity Share of Re. 1/- each for the financial year ended 31st March, 2026 (previous year: Nil). Total cash outflow on account of Dividend will be Rs. 208.30 Crores (previous year: Nil). The Record Date fixed for the purpose of determining entitlement of the Members for the Final Dividend is Thursday, 21st May, 2026 and such Dividend, if declared, will be paid between Monday, 10th August, 2026 and Friday, 14th August, 2026 to those Members entitled thereto. 7. The 3rd Annual General Meeting of the Company has been convened for Thursday, 6th August, 2026. 8. This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 7,69,372.00
Capital work-in-progress 20,609.00
Investment property
Goodwill 1,698.00
Other intangible assets 1,524.00
Intangible assets under development 72.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 12,613.00
Non-current financial assets
Non-current investments 1,00,364.00
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
1 Other non-current financial assets 53,190.00
Total of other non-current financial assets 53,190.00
Total non-current financial assets 1,53,554.00
Deferred tax assets (net) 438.00
Other non-current assets
1 Other non-current assets 62,694.00
Total of other non-current assets 62,694.00
Total non-current assets 10,22,574.00
2 Current assets
Inventories 1,23,968.00
Current financial asset
Current investments 82,599.00
Trade receivables, current 23,025.00
Cash and cash equivalents 3,521.00
Bank balance other than cash and cash equivalents 73,015.00
Loans, current 31.00
Other current financial assets
Total of other current financial assets 5,101.00
Total current financial assets 1,87,292.00
Current tax assets (net)
Other current assets
1 Other current assets 14,625.00
Total of other current assets 14,625.00
Total current assets 3,25,885.00
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 13,48,459.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 20,830.00
Other equity 11,44,952.00
Total equity attributable to owners of parent 11,65,782.00
Non controlling interest 4,069.00
Total equity 11,69,851.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other non-current financial liabilities 11,552.00
Total of other non-current financial liabilities 11,552.00
Total non-current financial liabilities 11,552.00
Provisions, non-current 3,749.00
Deferred tax liabilities (net) 43,165.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Other non-current liabilities 2,381.00
Total of other non-current liabilities 2,381.00
Total non-current liabilities 60,847.00
Current liabilities
Current financial liabilities
Borrowings, current 121.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1,286.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 41,267.00
Total Trade payable 42,553.00
Other current financial liabilities
1 Other current financial liabilities 14,503.00
Total of other current financial liabilities 14,503.00
Total current financial liabilities 57,177.00
Other current liabilities 53,599.00
1 Other current liabilities 53,599.00
Total of other current liabilities 53,599.00
Provisions, current 6,203.00
Current tax liabilities (Net) 782.00
Deferred government grants, Current 0.00
Total current liabilities 1,17,761.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 1,78,608.00
Total equity and liabilites 13,48,459.00
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) Other Non-Current Assets include Right-of-Use Assets of Rs. 363.09 Crores and Income Tax Assets (Net) of Rs. 1.70 Crores. Other Non-Current Financial Liabilities include Lease Liabilities of Rs. 72.41 Crores and Other Current Financial Liabilities include Lease Liabilities of Rs. 0.57 Crores.



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Hotels 1,10,395.00 3,85,983.00
2 Real estate 12,938.00 21,089.00
3 Others 1,328.00 4,690.00
Total Segment Revenue 1,24,661.00 4,11,762.00
Less: Inter segment revenue 273.00 850.00
Revenue from operations 1,24,388.00 4,10,912.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Hotels 32,221.00 94,333.00
2 Real estate 3,798.00 6,373.00
3 Others 526.00 1,645.00
Total Profit before tax 36,545.00 1,02,351.00
i. Finance cost 217.00 793.00
ii. Other Unallocable Expenditure net off Unallocable income (5,508.00) (10,740.00)
Profit before tax 41,836.00 1,12,298.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Hotels 8,75,167.00 8,75,167.00
2 Real estate 1,33,726.00 1,33,726.00
3 Others 13,678.00 13,678.00
Total Segment Asset 10,22,571.00 10,22,571.00
Un-allocable Assets 3,25,888.00 3,25,888.00
Net Segment Asset 13,48,459.00 13,48,459.00
4 Segment Liabilities
Segment Liabilities
1 Hotels 1,14,921.00 1,14,921.00
2 Real estate 14,130.00 14,130.00
3 Others 5,489.00 5,489.00
Total Segment Liabilities 1,34,540.00 1,34,540.00
Un-allocable Liabilities 44,068.00 44,068.00
Net Segment Liabilities 1,78,608.00 1,78,608.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) The figures for the 3 months ended 31.03.2026 and corresponding 3 months ended 31.03.2025 are the balancing figures between the audited figures in respect of the full financial year and the year to date figures upto the third quarter of the respective financial years. 1. 'Revenue from Operations' should be read as 'Gross Revenue from sale of products and services'. 2. ‘Other Unallocable Expenditure net off Unallocable income’ should be read as ‘Other un-allocable (income) net of un-allocable expenditure and is, net of exceptional items and share of profit/loss of Associates and Joint Ventures. 3. The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Strategic and Executive Management Committee, which is the Chief Operating Decision Maker. The Group has presence in Hotels and Real Estate businesses. The Group's organisational structure and governance processes are designed to support effective management of these businesses. 4. The business groups comprise the following : Hotels - Hotel Services Real estate - Branded Residences Others - Golfing and ancillary services



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Items that will not be reclassified to profit or loss (2,376.00) (2,385.00)
Total Amount of items that will not be reclassified to profit and loss (2,376.00) (2,385.00)
2 Income tax relating to items that will not be reclassified to profit or loss (596.00) (596.00)
3 Amount of items that will be reclassified to profit and loss
1 Items that will be reclassified to profit or loss 11,839.00 13,398.00
Total Amount of items that will be reclassified to profit and loss 11,839.00 13,398.00
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 10,059.00 11,609.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1,11,111.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 793.00
Adjustments for decrease (increase) in inventories 5,710.00
Adjustments for decrease (increase) in trade receivables, current (3,147.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 1,861.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 41,651.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (202.00)
Adjustments for dividend income 0.00
Adjustments for interest income 16,226.00
Adjustments for share-based payments 53.00
Adjustments for fair value losses (gains) (2,505.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 772.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 28,760.00
Net cash flows from (used in) operations 1,39,871.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 28,886.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,10,985.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 2,42,392.00
Other cash payments to acquire equity or debt instruments of other entities 3,67,043.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 178.00
Purchase of property, plant and equipment 41,026.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 10.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 241.00
Interest received 15,505.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 32,341.00
Net cash flows from (used in) investing activities (1,17,422.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 2,682.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 32.00
Dividends paid 0.00
Interest paid 793.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 119.00
Net cash flows from (used in) financing activities 1,976.00
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (4,461.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 111.00
Net increase (decrease) in cash and cash equivalents (4,350.00)
Cash and cash equivalents cash flow statement at beginning of period 7,871.00
Cash and cash equivalents cash flow statement at end of period 3,521.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited
Declaration of unmodified opinion or statement on impact of audit qualification
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto