EIH Ltd — Interim / Quarterly Report 2022

Jul 29, 2022

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CIN:L55101WB1949PLC017981

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

29[th] July 2022

The National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5[th] Floor Corporate Relationship Dept. Plot No..C/1, G Block 1[st] Floor,New Trading Ring Bandra Kurla Complex Rotunda Building Bandra(E) Phiroze Jeejeebhoy Towers Mumbai – 400 051. Dalal Street,Fort, Mumbai-400001 Code: EIHOTEL Code:500840

SUB: SUBMISSION OF PRESENTATION TO INVESTOR / ANALYSTS

Dear Sir / Madam,

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 Unaudited Financial Results (Standalone and Consolidated) of the Company for the first quarter ended 30[th] June 2022.

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

Thanking you,

Yours faithfully

For EIH Limited

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Lalit Kumar Sharma Company Secretary

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Classification | External

1

Classification | External

Indian Hospitality Industry

Key Highlights – Q1FY23

• Average rates in Indian hotel sector remained relatively flat in May 2022 compared to Apr 2022, while RevPAR and occupancy fell slightly from the previous month

• Domestic air traffic in India increased by more than 11% in May 2022 compared to the previous month, nearly reaching pre-pandemic levels of May 2019

• Mumbai continued to be the market leader, with occupancy of more than 80% in May 2022, followed by Pune and Bengaluru

• While rising travel costs have yet to have a discernible impact on travel demand, the industry's recovery may be hampered due to ongoing economic and global headwinds

Source: HVS Anarock Report (June 2022 edition)

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Classification | External

Indian Hospitality Industry Overview

EIH RevPAR Growth Higher than Industry

Signs of growth visible in early months of FY23

INDUSTRY

Y-o-Y	May 2022 vs. May 2019 vs. May 2021
ADR	Rs 5,750 – Rs 5,950 6-8% 87-89%
Occupancy	63%-65% 1-3pp 46-48pp
RevPAR	Rs 3,622 – Rs 3,867 10-12% 615-617%
EIH
Owned Hotels	ADR Rs 11,245 12% 59%
	Occupancy 79% 21pp 255pp
	RevPAR Rs 8,755 47% 1067%
Domestic Hotels (including managed)	ADR 11,066 14% 35%
	Occupancy 72% 13pp 167pp
	RevPAR Rs 7,906 38% 982%

RevPAR Index (May)

FY23 – 2.34 | FY20 – 1.76 [Owned Hotels]

FY23 – 2.11 | FY20 – 1.70 [Domestic Hotels (including managed)]

Source: HVS Anarock Report (June 2022 edition)

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Classification | External

Indices relative to Competition | Domestic Hotels (including managed)

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Covid 1 [st] wave Recovery after Covid 2 [nd] Recovery after Omicron
Covid 1 [st] wave wave Covid 2 [nd] wave wave
1.9
1.7
1.5
1.3
1.1
0.9
0.7
0.5
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Jun
19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 21 21 22 22 22 22
MPI ARI RGI
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Source: STR Global

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Classification | External
Our Outlook
Endure | Revitalize | Flourish
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Classification | External

Classification | External

Strong Balance Sheet (Standalone)

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468
2,919 2,926 2,979 3,024 2,946 2,959 429
2,816 2,855 2,808 2,851 407
2,524
2,464
264 270
193
31st March 31st March 31st March 31st March 31st March 30th June 31st March 31st March 31st March 31st March 31st March 30th June 31st March 31st March 31st March 31st March 31st March 30th June
2018 2019 2020 2021 2022 2022 2018 2019 2020 2021 2022 2022 2018 2019 2020 2021 2022 2022
In Rs Cr In Rs Cr In Rs Cr
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NET WORTH

STRONG ASSET* BASE

BANK NET DEBT

• Our Balance Sheet strength have helped in controlling the finance costs and obtain lowest interest rates from bank.

• Weighted Average Cost of Debt as on 30[th] June 2022 was 7.4%

*Total Gross Fixed Assets

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Classification | External

Financial Agility | Significantly enhanced operational efficiencies

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-8% -2% 27% 9% -10%
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Consumption Of Provisions, Power & Fuel Repairs & Maintenance Adminstrative & Other Payroll & Related (incl.
Wines & Others expenses contract for services)
Q1FY20 Q1FY22 Q1FY23
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Increase (Q1FY23 vs. Q1FY20) in Reduction (Q1FY23 vs. Q1FY20) in Reduction (Q1FY23 vs. Q1FY20) in Reduction (Q1FY23 vs. Q1FY20) in 18% 2% 10% 1 pp Total Revenue Total Expenses Fixed Expenses Variable Expenses

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Classification | External

Reducing our Carbon Footprint | Energy Conservation new initiatives

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The Oberoi
Vanyavilas
0.4
MWp
The
Trident 0.6 1.0 Oberoi
Agra
MWp MWp Udaivilas
1.0
MWp
Trident
Udaipur
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Commissioning of Solar Plants

• Solar Plants with a capacity of 3.0 MWp under operation

• Expected to generate 4.2 mn units p.a. thereby reducing the carbon footprint

• 47% of electricity consumption being met through Solar power generation at these location.

• Average cost reduced from ~ 10.9 p.u. to ~ 5.9 p.u.

Hotels consuming Renewable Energy

• The Oberoi Gurgaon

• Trident Udaipur

• The Oberoi Bengaluru

• Trident Gurgaon

• The Oberoi Vanyavilas

• Trident Bandra Kurla

• The Oberoi Udaivilas

• Trident Chennai

• Trident Agra • OFS, Chennai

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Classification | External

Revitalize

Surpassed Pre-Covid performance

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Classification | External

Q1 RevPAR surpassed pre-pandemic level

In Rs

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Pre Covid Performance
Covid 1 [st] wave Recovery after 1 [st] wave Covid 2 [nd] Recovery after 2 [nd] wave Omicron Post Covid
10,473 wave wave Performance
9,987
8,773 8,850
8,076 8,219
7,186
7,023
6,715
6,506 6,317 6,151 6,188 6,432
4,380
4,083 4,081
3,864
3,152
2,992
1,580 1,683
1,257 1,234
554 441
Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23
EIH Owned Hotels Domestic Hotels (including managed)
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Classification | External

Q1 ARR and Occupancy Performance at Domestic Hotels (including managed)

Occupancy

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76%
70% 69%
70%
FY23
62%
59%
FY22
FY20
27% 28%
80% 72% 12,000
70% 64%
11% 10,000
60%
8,000
50% 9,727 8,197 11,066
Apr May Jun 40% 6,000
27%
30%
4,000
ARR 20%
2,000
10% ARR ARR ARR
0% -
Q1 FY20 Q1 FY22 Q1 FY23
FY20
FY22
FY23
In Rs
Apr May Jun
11,507 11,249 11,601
10,293
9,497 9,308
8,728
7,220
6,787
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Classification | External

Q1 City wise revenue growth at Domestic Hotels (including managed)

Q1 FY20 Q1 FY23

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Delhi / NCR Bengaluru Kolkata Maharashtra Udaipur Jaipur / Shimla / Chandigarh Agra Hyderabad Bhubaneswar /
Ranthambore Chennai / Cochin
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• *At Udaipur, one of EIH managed hotel was under partial renovation in Q1 FY20

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Classification | External

Q1 Occupancy and ARR performance at Domestic Hotels (including managed)

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Occ% | Q1 FY20 Occ% | Q1 FY22 Occ% | Q1 FY23
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
ARR (₹) Oberoi Metro Oberoi Leisure (Vilas) Trident Metro Trident Leisure Trident City Others
Q1 FY23 ₹ 13,436 ₹ 27,915 ₹ 8,158 ₹ 6,259 ₹ 6,797 ₹ 6,161
Q1 FY22 ₹ 9,760 ₹ 25,291 ₹ 4,443 ₹ 4,821 ₹ 4,172 ₹ 4,421
Q1 FY20 ₹ 11,665 ₹ 20,920 ₹ 8,439 ₹ 4,065 ₹ 6,973 ₹ 5,645
85%
79%
74%
72% 73%
68%
64%
62%
60%
58%
49%
46%
41%
35%
32%
24%
19%
16%
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Classification | External

Q1 F&B Revenue in Domestic Hotels (including managed)

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163
128
39
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Food & Beverage Revenue

Q1FY20 Q1FY22 Q1FY23

Focus on Food & Beverage Revenue continues. Q1 revenue in current year is higher by ₹ 35 Crs (+28%) compared to same period pre-pandemic.

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Classification | External

Classification | External

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Classification | External

Highest Standards of Health and Safety

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All Oberoi and Trident hotels received the highest Safety & Hygiene rating “PLATINUM” by Bureau Veritas *

• *In all 5 audits conducted during October 2020 to April 2022

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Classification | External

Trends | Strong tailwinds in Corporate and MICE

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FY20 FY21 FY22 FY23
Direct
Corporate Corporate
Direct
MICE
Leisure
MICE
Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23
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Classification | External

Performance Highlights (Standalone)

Q-o-Q STANDALONE Financial Results for starting from Q1 FY20 to Q1 FY23

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Revenue EBITDA PBT PAT TCI
Rs. In crores Rs. In crores Rs. In crores Rs. In crores Rs. In crores
449 146 99 99
75
367 57 57
357 94
303 [315 ] 324 85 78 25 41 41 33 42 25 41
279 9 16 9
35 [43 ] 35
217
3
-11 [-4 ] -7 -7 -8 -4
90
-50
-61 -61
-86 -93
-123 -123
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Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23

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Classification | External

Performance Highlights (Consolidated)

Q-o-Q CONSOLIDATED Financial Results for starting from Q1 FY20 to Q1 FY23

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Revenue EBITDA PBT PAT TCI
Rs. In crores Rs. In crores Rs. In crores Rs. In crores Rs. In crores
534 178 136 103 100 95 90
66
358 351 431 379 412 105 99 118 45 56 38 78 31 33 41 16 36 41 29
317 50
35 35
248 8 -1 -2
-1 -14
-43 -37 -38
111
-87 -145 -114 -107
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Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23

PBT and PAT have been calculated after Share of Profit of Associates & JV's accounted for using equity method and loss from discontinued operations

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Classification | External

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Classification | External

Performance Highlights (Standalone)

STANDALONE P&L	QTR 1	QTR 1
Figures in Rs Crores rounded to nearest first decimal	FY23	FY22
Revenue from Operations	342.4	79.3
Other Income	14.6	10.9
TOTAL INCOME (A)	357.0	90.2
Consumption	38.0	14.1
Employee Benefits	103.1	88.9
Power, Fuel & Light	25.6	15.6
Administrative & Other Expenses	96.5	57.9
TOTAL EXPENDITURE (B)	263.2	176.5
EBITDA = (A) – (B)	93.8	(86.3)
Less: Depreciation & Amortization	28.9	28.5
EBIT	64.9	(114.8)
Less: Finance Costs	8.2	7.8
PBT	56.7	(122.6)
Less: Exceptional Items	-	-
Less: Tax including Deferred Tax	14.3	(29.5)
PAT	42.4	(93.1)

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Classification | External

Performance Highlights (Consolidated)

Consolidated P&L	Q1	Q1
Figures in Rs Crores rounded to nearest first decimal	FY23 (Actual)	FY22 (L.Y.)
Revenue from Operations	394.3	95.2
Other Income	18.0	13.6
TOTAL REVENUE(A)	412.3	108.8
Consumption	41.1	15.0
Employee Benefits	98.6	89.5
Administrative & Other Expenses	155.1	89.9
TOTAL EXPENDITURE(B)	294.8	194.4
EBITDA =(A)– (B)	117.5	(85.6)
Less: Depreciation & Amortization	31.4	30.8
EBIT	86.1	(116.4)
Less: Finance Costs	8.5	8.0
PBEIT	77.7	(124.4)
Share of netprofit of associates andjoint ventures	(2.6)	(17.3)
Exceptional Items	15.5	0.0
Tax Expense	21.1	(30.6)
Profit /(Loss)for theperiod from continuingoperations	69.4	(111.2)
Items that maynot be reclassified to Profit or Loss	0.2	0.8
Items that maybe reclassified to Profit or Loss	24.2	6.9
Total Other Comprehensive Income / Loss (net of tax)	90.3	(106.5)
Less: Non-ControllingInterest in total comprehensive income	3.4	(0.8)
Total Comprehensive Income /(Loss) for theperiod	86.9	(105.7)

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Classification | External

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Classification | External

Corporate Structure

EIH Limited

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Within EIH
Mumtaz Hotels Mashobra Resort
EIH International Ltd 13 Hotels + Luxury Cruiser EIH Associated Hotels Limited
Limited Limited
• The Oberoi Amarvilas • The Oberoi, New Delhi • Wildflower Hall, Shimla • The Oberoi Rajvilas
EIH Holdings Ltd (Managed by EIH) •• The Oberoi, Bangalore The Oberoi, Mumbai (Managed by EIH) •• The Oberoi Cecil Trident Chennai
• The Oberoi Grand • Trident Bhubaneswar
• The Oberoi, Bali • The Oberoi Udaivilas • Trident Agra
• The Oberoi, Lombok • The Oberoi Vanyavilas • Trident Jaipur
• The Oberoi, Mauritius •• Trident, Nariman Point, Mumbai Trident, Bandra Kurla, Mumbai •• Trident Udaipur Trident Cochin
• The Oberoi, Sahl Hasheesh, Egypt • Motor Vessel Vrinda
• Maidens Hotel, Delhi (All hotels managed by EIH)
Managed Hotels:
• The Oberoi, Dubai (till June 2022) Managed by EIH : • Trident, Gurgaon
• The Oberoi Beach Resort Al Zorah • The Oberoi Gurgaon
• The Oberoi Zahra (Nile Cruiser) • The Oberoi Sukhvilas
• The Oberoi Marrakech • Trident Hyderabad
EIH Flight Services
Other Businesses (Within EIH) Mercury Car Rentals (P) Limited
Limited, Mauritius
OFS & OAS Business | Air Charter Services | Cou Cou Car Rental Business
OFS, Mauritius
(Joint Venture with Avis, Europe)
Hotel Business
Non Hotel Business
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Classification | External

Hotels in India

1,523 keys 2,172 keys under The Oberoi Brand under Trident Brand

24 Hotels and Resorts 3,750 keys in India Where the Guest is Everything.

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Classification | External

Oberoi Hotels & Resorts around the world

749 keys under The Oberoi Brand

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Classification | External