Espire Hospitality FY26: Revenue ₹141 Cr, EBITDA ₹31.9 Cr

Key takeaway for investors

Espire Hospitality Ltd (EHL) reported its strongest-ever annual performance for FY 2026, marked by record revenue, EBITDA and profit before tax. The audited standalone results were approved by the board at a meeting held on June 10, 2026. Alongside the improved topline and operating metrics, the company also faced a qualified audit opinion linked to balance sheet verification challenges after an ERP migration.

FY26 results: record topline and operating profit

For the twelve months ended March 31, 2026, Espire Hospitality reported revenue of ₹141.06 crore, up 17% year-on-year. EBITDA rose 38% year-on-year to ₹31.90 crore, as per the company’s stated FY26 highlights. Profit before tax (PBT) for FY26 stood at ₹11.57 crore, and profit after tax (PAT) was ₹8.12 crore.

The company also disclosed a separate line item for revenue from operations, which came in at ₹134.25 crore for FY26, up from ₹119.55 crore in FY25. Total income for FY26 was stated at ₹141.06 crore, with total expenses of ₹129.49 crore.

PAT and EPS: marginal dip despite higher revenue

While revenue increased, the company reported that FY26 PAT was ₹8.12 crore, slightly lower than ₹8.27 crore in FY25. Basic earnings per share (EPS) for FY26 was ₹5.45, compared with ₹5.49 in FY25.

The combination of higher revenue and a small decline in PAT is an important point for investors tracking operating leverage and cost trends, especially in a hotel business where margins can move sharply with occupancy, rates, and fixed-cost absorption.

Q4 FY26 snapshot: income rises, PAT at ₹4.22 crore

For the quarter ended March 31, 2026 (Q4 FY26), Espire Hospitality reported total income of ₹48.73 crore and total expenses of ₹44.37 crore. Revenue from operations for the quarter was disclosed at ₹42.67 crore.

PAT for Q4 FY26 was ₹4.22 crore. The quarter’s basic and diluted EPS was reported at ₹2.84, compared with ₹2.96 a year earlier. In the supplied quarter-on-quarter and year-on-year comparisons, total income for Q4 FY26 was also described as ₹48.73 crore versus ₹40.86 crore a year ago.

Q4 FY26 EBITDA and PBT: company highlights

In its Q4 FY26 highlights, Espire Hospitality stated quarterly revenue of ₹48.73 crore, up 19% compared with Q4 FY25. It also reported quarterly EBITDA of ₹10.96 crore, up 34% year-on-year.

For the same quarter, the company reported PBT of ₹4.36 crore and PAT of ₹4.22 crore. These figures align with the lakh-denominated results shared in the company’s highlights and the crore-denominated quarterly disclosures.

Operational metrics: ADR and RevPAR beat industry averages

Espire Hospitality also published operating indicators that it said were ahead of the broader industry. Average Daily Rate (ADR) was reported at ₹10,827, compared with an industry average of ₹8,792. Revenue Per Available Room (RevPAR) was reported at ₹6,317, compared with an industry average of ₹5,745.

For hospitality companies, these metrics matter because they offer a cleaner view of pricing power and room monetisation than revenue alone. Outperformance on ADR and RevPAR can support profitability, particularly during periods of stable occupancy.

Expansion update: six new properties and 17-hotel portfolio

During Q4 FY26, the company said it added six new properties to its portfolio, contributing nearly 250 keys. As of the end of Q4 FY26, the portfolio stood at 17 hotels comprising 737 keys.

Such additions can lift future revenue potential, but they also bring integration and ramp-up considerations. Investors typically track how quickly new keys move towards stabilised occupancy and how they affect consolidated margins.

Qualified audit opinion: ERP migration and reconciliation issues

A key disclosure in the audited results was a qualified opinion from statutory auditors Bansal & Co, LLP. The qualification was linked to challenges in reconciling certain balances after the company migrated to a new ERP system. The issue was described as affecting verification of some balance sheet items, including receivables and payables reconciliation.

This is material because it shifts part of the focus from performance numbers to accounting controls and the completeness of supporting records. Investors generally watch for subsequent filings or management updates that clarify the scope of reconciliation and the timeline to close the gaps.

Valuation and market context points cited in supplied data

A performance snapshot included in the supplied information cited a TTM P/E of 42.34 for Espire Hospitality, compared with a sector P/E of 19.72. It also cited Q4 FY26 operating and PAT margins of 11.48% and 9.89%, respectively, and noted sequential changes in margin metrics.

These datapoints, when read alongside the audited statements, highlight why investors often look at both reported profitability (including other income and accounting classifications) and operating profitability measured through margins.

Key numbers at a glance

Conclusion

Espire Hospitality’s FY26 filing combined record revenue and EBITDA with a small decline in PAT and EPS versus FY25. The quarter also included a portfolio expansion update and operational metrics showing ADR and RevPAR above industry averages. The major caution flag in the same set of disclosures was the qualified audit opinion tied to ERP migration-related reconciliation challenges. The next set of updates investors will track are any further clarifications on the reconciliation process and subsequent quarterly performance against the expanded hotel portfolio.