EIH Ltd — Investor Presentation 2019

Nov 10, 2019

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Corporate Office: 7, Sham Nath Marg, Delhi – 110 054 Telephone: 91-11-2389 0505 Facsimile: 91-11-2389 0575 Website: www.eihltd.com CIN:L55101WB1949PLC017981

10[th] November 2019

	The National Stock Exchange of India Limited Exchange Plaza, 5thFloor Plot No..C/1, G Block Bandra Kurla Complex Bandra(E) Mumbai – 400 051. Code: EIHOTEL	BSE Limited Corporate Relationship Dept. 1stFloor,New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street,Fort Mumbai-400001 Code:500840	The Calcutta Stock Exchange Limited 7,Lyons Range Kolkata-700001 Code:05

SUB: SUBMISSION OF PRESENTATION TO INVESTOR / ANALYSTS

Dear Sir / Madam,

In Furtherance to our intimation dated 1[st] November 2019 and pursuant to Regulation 30(6) of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 (Listing Regulations), please find enclosed the copy of the presentation to be circulated to Investor / Analysts in respect of the Financial Results (Standalone and Consolidated) of the Company for the second qsuarter and six months ended 30th September 2019.

Kindly take the above in your records and host in your website

Thank you,

Yours faithfully,

For EIH Limited

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S.N. Sridhar Company Secretary encl: a.a

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Registered Office:EIH Limited, 4, Mangoe Lane, Kolkata – 700 001 Telephone: 91-33-22486751 Facsimile: 91-33-2248 6785

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INVESTOR PRESENTATION Q2 FY20 11[th] November 2019

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CONTENTS

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1. The Oberoi Dharma

2. The Oberoi Group Mission

3. Business Overview

4. EIH Group Presence

5. Balanced Portfolio

6. Planned addition of properties

7. Operational Statistics

8. Financials

1

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4503
Rooms;
31
Hotels
2271 Rooms; 2232 Rooms;
20 Hotels 11 Hotels
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2

The Oberoi Dharma

Fundamental Code of Conduct

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We, as members of OBEROI Group are committed to display through our behaviour and actions the following CONDUCT which applies to all aspects of our Business:

• Conduct which is of highest ethical standards, intellectual, financial and moral, and reflects the highest levels of courtesy and consideration to others

• Conduct which builds and maintains Team work, with mutual trust as the basis of all working relationship

• Conduct which puts the customer first, the Company second and the self last

• Conduct which exemplifies care for the customer through anticipation of need, attention to detail, excellence, aesthetics and style and respect for privacy along with warmth and concern

• Conduct which demonstrates two-way communication accepting constructive debate and dissent whilst acting fearlessly with conviction

• Conduct which demonstrates that people are our key asset, through respect for every employee, and leading from the front regarding performance achievements as well as individual development

• Conduct which at all times safeguards the safety, security, health and environment of customers, employees and the assets of the Company

• Conduct which eschews the short-term quick-fix for the long-term establishment of healthy precedent

3

The Oberoi Group Mission

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OUR GUESTS

We are committed to meeting and exceeding the expectations of our guests through our unremitting dedication to perfection, in every aspect of service

OUR PEOPLE

We are committed to the growth, development and welfare of our people upon whom we rely to make this happen

OUR DISTINCTIVENESS

Together we shall continue the Oberoi tradition of pioneering in the hospitality industry, striving for unsurpassed excellence in high potential locations all the way from the Middle East to Asia Pacific

OUR SHAREHOLDERS

As a result we will create extraordinary value for our shareholders

4

Business Overview

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Hotels

• Oberoi Hotels & Resorts Trident Hotels

• Business / Leisure Hotels in  First class hotels of the premium segment International standard

• Operating in 5 countries –  Operations in India India, Mauritius, Egypt, UAE and Indonesia

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• Flight Catering Other Businesses

• Quality In-flight catering  Car Rental  Airport lounge & restaurant  Corporate Air Charter service  Operates out of Mumbai, Delhi,  Printing Press Kolkata, Chennai and Mauritius

Other businesses complement the core business of hospitality

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5

EIH Group Presence

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Gurgaon (202) Gurgaon (136) [(3) ] Mashobra, Shimla Hills
Shimla (75)
(85)
The Oberoi
The Oberoi Cecil [(2)] Wildflower Hall [(2)]
Gurgoan [(3)]
Jaipur (71) Jaipur (134) [(2) ]
New Delhi (220) New Delhi (54)
The Oberoi
Chandigarh (65) The Oberoi [(1)] Maidens Hotel [(1)]
Rajvilas [(2)]
The Oberoi
Ranthambore (25) Sukhvilas [(3)] Agra (137) [(2)] Agra (102)
The Oberoi The Oberoi
Vanyavilas [(1)] Amarvilas [(2)]
Udaipur (87) Udaipur (143) [(2)]
The Oberoi
Udaivilas [(1)] Kolkata (209)
Mumbai (436) Mumbai (555) The Oberoi Grand [(1)]
Bandra Kurla [(1)] Nariman Point [(1)]
Bhubaneshwar (62) [(2)]
Mumbai (287)
Hyderabd (323 [(2)]
The Oberoi [(1)]
Bangalore (160)
Cochin (85) [(2)] The Oberoi [(1)]
Backwaters of Kerala (8)
Chennai (167) [(2)]
The Oberoi M. V. Vrinda [(1)]
Luxury Cruiser
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International[(2)] EGYPT The Oberoi, Sahl Hasheesh (102) The Oberoi Zahra (Cruiser) (27) INDONESIA The Oberoi, Bali (74) The Oberoi, Lombok (50) MAURITIUS The Oberoi, Mauritius (71) UAE The Oberoi Dubai (252) The Oberoi Al Zorah (104) The Oberoi Trident

We own and/or manage 31 Hotels with 4,503 rooms

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Figures in brackets indicate the number of rooms in each property; (1) Owned by EIH (2) Owned through subsidiaries / Associate Companies; (3) No Equity Interest

6

Balanced Portfolio

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Business Leisure	Business Leisure
The Oberoi Mumbai (287) The Oberoi New Delhi (220) The Oberoi Grand, Kolkata (209) The Oberoi, Bangalore (160) Trident, Gurgaon (136) Trident,Nariman Point (555) Trident, Bandra Kurla (436) The Oberoi, Gurgaon (202)	The Oberoi Amarvilas (102) The Oberoi Udaivilas (87) The Oberoi Rajvilas (71) The Oberoi Vanyavilas (25) The Oberoi Sukhvilas (60) The Oberoi Cecil (75) Wildflower Hall (85)* The Oberoi M.V.Vrinda(8)
Trident , Chennai (167) Trident , Bhubaneswar (62) Maidens Hotel (54) Trident Hyderabad (323)*	Trident, Agra (137) Trident,Udaipur (143) Trident, Jaipur (134) Trident, Cochin (85)

Figures in brackets are number of rooms

• Significant presence in major tourist & business destinations with high room inventory

• Business Destinations - Mumbai, NCR, Kolkata, Bangalore, Chennai, Hyderabad

• Leisure Destinations - Agra, Jaipur, Udaipur, Kerala and Shimla

• Assets irreplaceable in terms of location, ambience and experience

• Geographic spread helps

• achieve synergies in occupancy by cross selling our properties

• mitigate affect of seasonality by efficiently utilizing personnel by re-deploying them between hotels

_ Properties managed by EIH limited*_ 7**

Planned Addition/ Renovation

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Agra
Bandhavgarh
The Oberoi Amarvilas [(1)]
The Oberoi
Bandhavgarh
Rajgarh
The Oberoi Rajgarh
Palace
Ahmedabad
The Oberoi GIR
Udaipur
Trident Udaipur(1)
GOA Bangalore
The Oberoi, Goa The Oberoi, Bangalore
Bangalore
The Oberoi [(1)]
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International

Morocco The Oberoi, Marrakech Qatar The Oberoi, Doha

Kenya

The Oberoi Maasai Mara Thailand The Oberoi &Trident, Koh Tan Island

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Nepal
The Oberoi Kathmandu
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New Addition
Hotels Under
Renovation
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(1) Existing properties under renovation

8

OPERATIONAL STATISTICS – Q2 Domestic properties (Owned)

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12,000
72.0% 10,098
10,158
9,409 10,000
8,888
8,530 66.6%
67.0%
66.6%
64.8% 65.1% 65.7% 8,000
62.0%
6,000
57.0%
4,000
52.0%
2,000
47.0%
5,526 5,919 6,126 6,673 6,725
42.0% -
Sep-15 Sep-16 Sep-17 Sep-18 Sep-19
RevPAR-Rs. Occupancy-% ARR-Rs.
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9

OPERATIONAL STATISTICS – YTD Q2 Domestic properties (Owned)

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12,000
72.0% 10,230 10,061
9,500 10,000
8,974
8,567
67.0% 65.8%
65.2% 65.9% 65.2% 8,000
65.0%
62.0%
6,000
57.0%
4,000
52.0%
2,000
47.0%
5,584 5,918 6,195 6,654 6,616
42.0% -
Sep-15 Sep-16 Sep-17 Sep-18 Sep-19
RevPAR-Rs. Occupancy-% ARR-Rs.
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10

Operational Statistics – Q2 Domestic Properties (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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8,000
75.00%
64.40%
64.03% 6,191 6,159
6,000 0.52%
50.00% 0.59%
4,000
25.00%
2,000
0.00% -
Q2 Sep 18 Q2 Sep 19 Q2 Sep 18 Q2 Sep 19
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Note:

1. Occupancy and RevPAR are for Domestic properties only.

2. Includes managed properties.

2. The results of this quarter are not indicative of full year’s performance due to seasonal nature of the hotel industry.

11

Operational Statistics – YTD Q2 Domestic Properties (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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8,000
75.00%
63.32% 63.94% 6,231 6,234
6,000
50.00% 0.98% 0.05%
4,000
25.00%
2,000
0.00% -
YTD Sep 18 YTD Sep 19 YTD Sep 18 YTD Sep 19
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Note:

1. Occupancy and RevPAR are for Domestic properties only.

2. Includes managed properties.

2. The results of YTD September are not indicative of full year’s performance due to seasonal nature of the hotel industry.

12

Operational Statistics – Q2 Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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75.00%
63.19%
62.79%
50.00% 0.64%
25.00%
0.00%
Q2 Sep 18 Q2 Sep 19
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8,000 7,107
7,145
6,000 0.53%
4,000
2,000
-
Q2 Sep 18 Q2 Sep 19
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Note:

1. Includes managed properties.

2. The results of this quarter are not indicative of full year’s performance due to seasonal nature of the hotel industry.

13

Operational Statistics – YTD Q2 Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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75.00%
62.20%
61.53%
50.00% 1.09%
25.00%
0.00%
YTD Sep 18 YTD Sep 19
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8,000
6,911
6,909
6,000
0.03%
4,000
2,000
-
YTD Sep 18 YTD Sep 19
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Note:

1. Includes managed properties.

2. The results of this YTD September are not indicative of full year’s performance due to seasonal nature of the hotel industry.

14

Operational Statistics – Q2 Brand Wise ~ Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

Oberoi Hotels

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75.00%
55.70%
55.50%
0.36%
50.00%
25.00%
0.00%
Q2 Sep 18 Q2 Sep 19
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10,000 8,448
8,514 0.78%
7,500
5,000
2,500
-
Q2 Sep 18 Q2 Sep 19
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Trident Hotels

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73.31%
72.98%
75.00%
0.45%
50.00%
25.00%
0.00%
Q2 Sep 18 Q2 Sep 19
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6,000 5,294
5,232
1.19%
4,000
2,000
-
Q2 Sep 18 Q2 Sep 19
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1. Includes managed properties.

2.The results of this quarter are not indicative of full year’s performance due to seasonal nature of the hotel Industry.

15

Operational Statistics – YTD Q2 Brand Wise ~ Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

Oberoi Hotels

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75.00%
54.44%
53.57% 1.62%
50.00%
25.00%
0.00%
YTD Sep 18 YTD Sep 19
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10,000
8,200
8,147
7,500
0.65%
5,000
2,500
-
YTD Sep 18 YTD Sep 19
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Trident Hotels

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72.14%
72.05%
75.00%
0.12%
50.00%
25.00%
0.00%
YTD Sep 18 YTD Sep 19
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6,000 5,263
5,273
0.19%
4,000
2,000
-
YTD Sep 18 YTD Sep 19
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1. Includes managed properties.

2.The results of YTD September are not indicative of full year’s performance due to seasonal nature of the hotel Industry.

16

Market Leader YTD Q2 2019-20

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Hotel-wise STR ranking suggests Oberoi & Trident branded hotels continue to be the leaders across India with 7 hotels ranked # 1 and 3 hotels ranked # 2 out of total 18 hotels in India

Oberoi Branded Hotels STR Rank		Trident Branded Hotels STR Rank
The Oberoi, Mumbai 3 of 5 The Oberoi, Bengaluru 3 of 7 The Oberoi Grand, Kolkata 1 of 5 The Oberoi, Gurgaon 1 of 5 The Oberoi, Rajvilas 2 of 5 The Oberoi, Udaivilas 1 of 5 The Oberoi, New Delhi 1 of 5 The Oberoi Cecil, Shimla 3 of 5 The Oberoi, Sukhvilas 4 of 5		Trident, Nariman Point 1 of 5 Trident, Bandra Kurla 2 of 6 Trident, Gurgaon 1 of 6 Trident, Chennai 4 of 6 Trident, Hyderabad 3 of 8 Trident, Agra 2 of 6 Trident, Jaipur 5 of 6 Trident, Udaipur 1 of 6 Trident, Cochin 6 of 7

* STR data in respect of The Oberoi Amarvilas, The Oberoi Vanyavilas, Wild Flower Hall, The Oberoi MV Vrinda, Trident Bhubaneshwar and Maidens Hotel is not available in the absence of comparable competition set.

International Oberoi Branded Hotels	STR Rank
The Oberoi, Bali	9 of 11
The Oberoi, Mauritius	6 of 6
The Oberoi, Sahl Hasheesh	1 of 6

* STR data in respect of other International properties is not available.

17

In Flight Catering and Airport Services

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• The grounding of a major Indian airline in April 2019, as well as closure of air space has affected the Airline catering business of the company resulting in a drop in revenue in this business vertical by 48.4% in in H1/FY20 vs. H1/FY19.

• Gradual regaining of business is underway, with the company securing incremental, quality business from several foreign airlines and also certain select domestic airlines business at its all its four locations in India. Measures have also been initiated to significantly optimize operational costs.

• Construction of a new state-of-art flight kitchen at Mumbai is nearing completion and is expected to be operational before the end of this fiscal. Along with its other already existing modern facilities at Delhi, Chennai, Kolkata and Mauritius, this is aimed to ensure the Company’s premium positioning in the airline catering business with majority market share of foreign origin (especially US and EUROPE) airline business in India.

18

Q2 Financials (EIH CFS)

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Turnover (Rs. Cr) EBITDA (Rs. Cr)
500 80 40%
400 401 351 58
60 30%
300 50 cr
35
40 15% 20%
200
10%
100 20 10%
0
0 0%
Q2 Sep 18 Q2 Sep 19
Q2 Sep 18 Q2 Sep 19
EBITDA Margin
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PAT (Rs. Cr) Net Worth (Rs. Cr)
35 11%
2993 2970
30 9% 3000 23 cr
25
31 7%
20
2000
5%
15
3%
10 17
1000
5 1%
0 -1%
0
Q2 Sep 18 Q2 Sep 19
Mar 19 Sep 19
PAT Margin
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19

Q2 Financials (EIH Standalone)

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Turnover (Rs. Cr) EBITDA (Rs. Cr)
500 80 40%
60
400 357 315 60 30%
42 cr 43
300 17%
40 20%
200 14%
100 20 10%
0
0 0%
Q2 Sep 18 Q2 Sep 19
Q2 Sep 18 Q2 Sep 19
EBITDA Margin
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500
400 357 315
42 cr
300
200
100
0
Q2 Sep 18 Q2 Sep 19
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PAT (Rs. Cr)

Net Worth (Rs. Cr)

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50 14%
13%
12%
40
10%
7%
30 41 8%
6%
20 26
4%
10
2%
0 0%
Q2 Sep 18 Q2 Sep 19
PAT Margin
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2855 2826
3000
29 cr
2000
1000
0
Mar 19 Sep 19
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20

Strong Balance Sheet

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Robust long term asset base

• Revenue generating long term assets comprises 80% of total asset base.

Healthy Gearing

• Debt : Equity 1 : 21

• 9% reduction in over all debt in Q2 FY20 vs Q2 FY19

Proven record of debt servicing

• Clean servicing track record resulting in low WACD

21

5-Year Annual Operational Statistics (Domestic Hotels – Owned)

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14,000
71.7%
71.4% 12,200
72.0%
11,246 12,000
70.0% 10,695 10,000
10,202 70.1%
9,872
69.6%
67.7% 8,000
68.0%
6,000
66.0%
4,000
64.0%
2,000
6,686 7,308 7,639 7,880 8,490
62.0% -
2014-15 2015-16 2016-17 2017-18 2018-19
RevPAR-Rs. Occupancy-% ARR-Rs.
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22

Historical Financials (EIH CFS)

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Turnover (Rs. Cr)

EBITDA (Rs. Cr)

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600 40%
487
500 422
374 30%
355
400
309
300 20%
200
10%
100
0 0%
Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
EBITDA Margin
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1880
2000
1700 1705
1697 1618
1600
1200
800
400
0
Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
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PAT (Rs. Cr) Net Worth (Rs. Cr)
200 179 12% 3500 2993
2883
3000 2729 2712 2781
10%
150 131 132 2500
8%
103 2000
100 6% 1500
63
1000
4%
50 500
2%
0
0 0% Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
PAT Margin
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200 179 12%
10%
150 131 132
8%
103
100 6%
63
4%
50
2%
0 0%
Mar-15 Mar-16 Mar-17 Mar-18 Mar-19
PAT Margin
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23

THANK YOU

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