EIH Ltd — Investor Presentation 2020

Jan 24, 2020

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CIN:L55101WB1949PLC017981

CORPORATE OFFICE: 7 SHAM NATH MARG, DELHI -110054, INDIA / TELEPHONE: +91-11-23890505/ WEBSITE: WWW.EIHLTD.COM

24[th] January 2020

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 20[th] January 2020 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 third Quarter and Nine months ended 31[st] December 2019.

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

Thanking you,

Yours faithfully

For EIH Limited

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S.N. Sridhar Company Secretary

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INVESTOR PRESENTATION [Q3 FY20] 24[th ] January 2020

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Voted THE BEST HOTEL GROUP IN THE WORLD For the 3rd year running By Readers of Telegraph U.K. [November 2019]

1

CONTENTS

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1. Business Overview

2. EIH Group Presence

3. Balanced Portfolio

4. Planned addition of properties

5. Operational Statistics

6. Financials

2

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4543
Rooms;
32
Hotels
2311 Rooms; 2232 Rooms;
21 Hotels 11 Hotels
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* Includes The Oberoi, Marrakech opened on 1[st] December 2019

3

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 6 countries –  Operations in India India, Mauritius, Egypt, UAE, Morocco 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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4

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)

MOROCCO The Oberoi, Marrakech(40)

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 32 Hotels with 4,543 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

5

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 Dubai (252)*	The Oberoi Amarvilas (102) The Oberoi Udaivilas (87) The Oberoi Rajvilas (71) The Oberoi Vanyavilas (25) The Oberoi Sukhvilas (60) The Oberoi M.V.Vrinda(8) The Oberoi Cecil (75) Wildflower Hall (85) The Oberoi, Marrakech(40) The Oberoi, Bali (74) The Oberoi, Lombok (50)The Oberoi Al Zorah (104) The Oberoi, Sahl Hasheesh (102) The Oberoi Zahra (Cruiser) (27)*
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

• 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

6

* Properties managed by EIH limited and its step down WOS

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
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International

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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Planned Addition
Hotels Under
Renovation
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(1) Existing properties under renovation

7

OPERATIONAL STATISTICS – Q3 Domestic properties (Owned)

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80.0% 16,000
76.5%
75.3%
74.2%
75.0% 14,000
73.1%
14,209
13,693
70.0% 12,000
12,247 12,386 70.5%
65.0% 11,257 10,000
60.0% 8,000
55.0% 6,000
50.0% 4,000
45.0% 2,000
8,478 9,091 9,060 10,021 10,473
40.0% -
Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
RevPAR-Rs. Occupancy-% ARR-Rs.
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8

OPERATIONAL STATISTICS – YTD Q3 Domestic properties (Owned)

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14,000
72.0%
11,640
68.7% 69.4% 12,000
68.3%
67.8%
11,414
67.0%
66.9% 10,000
10,165 10,546
62.0% 9,557
8,000
57.0%
6,000
52.0%
4,000
47.0% 2,000
6,531 6,986 7,146 7,787 7,919
42.0% -
Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
RevPAR-Rs. Occupancy-% ARR-Rs.
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9

Operational Statistics – Q3 Domestic Properties (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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74.12% 12,000
75.00% 70.81% 10,319
9,940
4.7% 8,000 3.8%
50.00%
25.00% 4,000
0.00% -
Q3 Dec 18 Q3 Dec 19 Q3 Dec 18 Q3 Dec 19
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Note:

1. Occupancy and RevPAR are for Domestic properties only.

2. Includes managed properties..

10

Operational Statistics – YTD Q3 Domestic Properties (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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75.00% 67.41%
65.85%
50.00% 2.4%
25.00%
0.00%
YTD Dec 18 YTD Dec 19
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7,628
8,000 7,487
6,000
1.9%
4,000
2,000
-
YTD Dec 18 YTD Dec 19
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Note:

1. Occupancy and RevPAR are for Domestic properties only.

2. Includes managed properties.

11

Operational Statistics – Q3 Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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72.00%
75.00%
69.21%
4.1%
50.00%
25.00%
0.00%
Q3 Dec 18 Q3 Dec 19
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12,000 10,768
10,439
8,000 3.2%
4,000
-
Q3 Dec 18 Q3 Dec 19
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Note:

• 1) Includes managed properties.

• 2) Q3 Dec 19 Includes The Oberoi, Marrakech started operations w.e.f. 1[st] December 2019

12

Operational Statistics – YTD Q3 Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

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10,000
75.00% 65.44% 8,185
64.02% 8,055
8,000
50.00% 2.2% 6,000 1.6%
4,000
25.00%
2,000
0.00% -
YTD Dec 18 YTD Dec 19 YTD Dec 18 YTD Dec 19
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Note:

• 1) Includes managed properties.

• 2) YTD Dec 19 Includes The Oberoi, Marrakech started operations w.e.f. 1[st] December 2019

13

Operational Statistics – Q3 Brand Wise ~ Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

Oberoi Hotels

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75.00% 65.19%
62.95%
3.6%
50.00%
25.00%
0.00%
Q3 Dec 18 Q3 Dec 19
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13,837
15,000 13,485
2.6%
10,000
5,000
-
Q3 Dec 18 Q3 Dec 19
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Trident Hotels

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80.20%
76.53%
75.00%
4.8%
50.00%
25.00%
0.00%
Q3 Dec 18 Q3 Dec 19
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8,000 7,065
6,878
6,000 2.7%
4,000
2,000
-
Q3 Dec 18 Q3 Dec 19
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Note: Includes managed properties.

14

Operational Statistics – YTD Q3 Brand Wise ~ Domestic + International (Owned & Managed)

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Occupancy (%)

RevPAR ( ` )

Oberoi Hotels

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12,000
75.00% 10,028
57.93% 9,817
56.50%
2.5% 2.2%
50.00% 8,000
25.00% 4,000
0.00% -
YTD Dec 18 YTD Dec 19 YTD Dec 18 YTD Dec 19
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Trident Hotels

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74.86%
73.57%
75.00%
1.8%
50.00%
25.00%
0.00%
YTD Dec 18 YTD Dec 19
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8,000
5,871
5,818
6,000 0.9%
4,000
2,000
-
YTD Dec 18 YTD Dec 19
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Note: Includes managed properties.

15

Market Leadership in Domestic Market YTD Q3 2019-20

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Oberoi Branded Hotels	STR Rank
The Oberoi, Mumbai	3 of 5
The Oberoi, Bengaluru	2 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	3 of 5
The Oberoi Amarvilas	*
The Oberoi Vanyavilas	*
Wild Flower Hall,	*
The Oberoi MV Vrinda	*

Trident Branded Hotels	STR Rank
Trident, Nariman Point	2 of 5
Trident, Bandra Kurla	2 of 6
Trident, Gurgaon	1 of 6
Trident, Chennai	3 of 6
Trident, Hyderabad	3 of 8
Trident, Agra	2 of 6
Trident, Jaipur	4 of 6
Trident, Udaipur	1 of 6
Trident, Cochin	5 of 7
Maidens Hotel	3 of 5
Trident Bhubaneshwar	*

* STR data is not available in the absence of comparable competition set.

16

In Flight Catering and Airport Services

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• 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 (specially US and EUROPE) airline business in India.

• Measures have also been initiated to significantly optimize operational costs and drive additional revenue.

17

Q3 Financials (EIH Standalone)

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Turnover (Rs. Cr) EBITDA (Rs. Cr)
500 457 449 150 80%
146
145
400
145 60%
8 cr
300
140 33% 40%
200
32%
100 135 20%
0
130 0%
Q3 Dec 18 Q3 Dec 19
Q3 Dec 18 Q3 Dec 19
EBITDA Margin
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500 457 449
400
8 cr
300
200
100
0
Q3 Dec 18 Q3 Dec 19
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PAT (Rs. Cr) Net Worth (Rs. Cr)
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80 17%
17%
75 16%
70 15%
75
14%
65 14%
60 64 13%
55 12%
Q3 Dec 18 Q3 Dec 19
PAT Margin
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2855 2899
3000
44 cr
2000
1000
0
Mar 19 Dec 19
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18

Q3 Financials (EIH CFS)

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Turnover (Rs. Cr) EBITDA (Rs. Cr)
600 547 534 200 192 40%
188
190 38%
400 13 cr
35%
180 35% 36%
200
170 34%
0
160 32%
Q3 Dec 18 Q3 Dec 19
Q3 Dec 18 Q3 Dec 19
EBITDA Margin
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PAT (Rs. Cr) Net Worth (Rs. Cr)
20% 4000
19%
110 18%
18% 2993 3071
3000
78 cr
80 103 16%
97
2000
14%
50
12% 1000
20 10%
0
Q3 Dec 18 Q3 Dec 19
Mar 19 Dec 19
PAT Margin
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19

Strong Balance Sheet

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Robust long term asset base

• Revenue generating long term assets comprises 82% of total asset base.

Healthy Gearing

• Substantial reduction of 18% in over all debt in Q3 FY20 vs Q3 FY19

• Debt : Equity = 0.16

Proven record of debt servicing

• Clean servicing track record resulting in low WACD

20

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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21

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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22

THANK YOU

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