Indian Hotels Q4 FY26 results: May 2026 revenue, PAT

What is scheduled for May 2026

The Indian Hotels Company (NSE: INDHOTEL) is expected to announce its Q4 FY26 financial results for the quarter and full year ended March 31, 2026. The company has indicated that its board of directors is scheduled to meet in May 2026 (expected). The agenda is expected to include approval of audited financial statements for the period. The board is also expected to consider a recommendation for a final dividend for FY26. For investors, the May board meeting matters because it combines both audited numbers and a potential dividend decision. The announcement is being tracked closely by market participants focused on the listed hospitality space. Indian Hotels is widely followed because it is associated with the Taj group of hotels.

Street’s Q4 FY26 preview: revenue, PAT and margin range

Brokerages including MOFSL, YES Securities, JM Financial, and others have published preview estimates for Indian Hotels’ Q4 FY26 performance. Consensus revenue expectations for the quarter are in the range of ₹2,020 to ₹2,180 crore. Profit after tax (PAT) is expected between ₹265 and ₹300 crore. Analysts have also pencilled in margin expectations of 14% to 15.5% for the quarter. These estimates set the immediate “beat or miss” framework the stock tends to react to after the results. The company’s actual numbers will only be known once they are declared in May 2026 (expected).

How the estimate compares with Q3 FY26

The preview range is being assessed against the most recently cited quarterly base in the same financial year. Indian Hotels reported revenue of ₹1,885 crore in Q3 FY26. PAT for Q3 FY26 was ₹248 crore, and operating margin was 13.2% for that quarter. Based on the consensus preview, the market is looking for an improvement from Q3 FY26 levels on both the top line and profitability. One summary point in the provided data flags “improvement anticipated” for PAT in Q4 FY26 versus Q3 FY26. Investors typically use this sequential comparison to judge momentum heading into the new financial year.

Drivers mentioned in previews: execution and seasonal pickup

The company enters Q4 FY26 with expectations of ₹2,020 to ₹2,180 crore in revenue, as per the preview notes compiled in the provided text. The same notes attribute the revenue expectation to execution on existing orders and a seasonal demand pickup. These are presented as the key underlying reasons behind the higher revenue band compared with the previous quarter’s cited revenue. While investors often look for granular operating metrics in hospitality, the provided preview set remains centred on revenue, PAT, and margin bands. As a result, the market’s immediate reaction is likely to be anchored to whether reported numbers land within, above, or below these bands.

Results calendar context: peers have already reported

The broader Q4 FY26 results season has already seen several large companies declare their numbers. A simple results calendar reference included TCS’ Q4 FY26 results date as April 9, 2026 (declared). In that same table, Indian Hotels is listed for May 2026 (expected). This positioning matters because investors may already have a view on broader consumption and services demand by the time Indian Hotels reports. It also means hospitality investors may use the company’s results as a later read-through on travel and leisure demand.

Key watchpoints highlighted for investors

The provided brief identifies two primary watchpoints for the upcoming release. First is revenue performance versus the ₹2,020 to ₹2,180 crore consensus range. Second is PAT versus the ₹265 to ₹300 crore range. Margin expectations of 14% to 15.5% form the third supporting metric around which commentary is likely to cluster. In practice, investors track whether margins rise from the cited 13.2% operating margin in Q3 FY26 and whether profit growth is supported by operating performance. These numbers will also shape how brokerages revise their near-term assumptions after the results.

Stock price and target range mentioned in the data

At ₹580, the stock was cited as trading at a discount to its 52-week high of ₹820. The text also states that analyst consensus targets range from ₹700 to ₹750, noting that targets can change frequently. Specific examples mentioned include MOFSL with a target of ₹750 and YES Securities with a target of ₹735. These targets are part of the pre-result expectation setting, but the credibility of the target range typically depends on whether the reported quarter supports the implied earnings trajectory. Investors often compare post-results management commentary against these pre-set target assumptions.

Reference points from earlier reported quarters in the text

The provided material also includes historical snapshots and separate reporting on earlier quarters, which serve as context. For Q4 FY25, Indian Hotels reported consolidated net profit of ₹562.66 crore, up 28.4% year-on-year, and revenue from operations of ₹2,425.14 crore, up 27.3% year-on-year. It also cited total expenses of ₹1,764.26 crore in that quarter. Another Q4 FY25 detail set in the text includes EBITDA of ₹918 crore and an EBITDA margin of 36.9%, with an operating EBITDA margin of 35.3%. For the full financial year referenced there, revenue from operations was ₹8,335 crore and EBITDA was ₹3,000 crore.

In a separate market report included in the supplied text, Indian Hotels shares fell over 4% early on April 25 after the company reported March-quarter numbers described as in-line on profit and revenue. That report cited net profit of ₹418 crore and revenue of ₹1,951 crore, and also noted a miss versus street expectations on EBITDA. It also stated that ADR and RevPAR grew 14% and 16% year-on-year, respectively, for the quarter, and that the company cited a RevPAR premium of 65% over competition on a pan-India basis. Because these details appear as a separate results reaction note, readers should treat them as a different reporting reference point than the Q4 FY26 preview.

Mixed brokerage views in the provided notes

The data also captures contrasting brokerage reactions around profitability and growth outlooks in a results-review context. Macquarie maintained a ‘neutral’ rating and cut its target price to ₹820 from ₹840, citing an EBITDA shortfall linked to higher-than-expected employee expenses, which were stated to be 8% above estimates. The same note said management reduced the FY2026/27 pipeline by around 10% from earlier guidance, and Macquarie lowered FY2026-28 EPS estimates by 8-9% due to reduced EBITDA and PAT margin projections. Morgan Stanley, in contrast, reiterated an ‘overweight’ rating with a target price of ₹864, pointing to strong demand from business travel and events, and said management reaffirmed a double-digit revenue growth target for FY2026. The same note cited a net cash position of ₹2,850 crore and ROCE improvement to 17.3% for FY25 from 15.1% in FY24.

Summary table: what the market is tracking for Q4 FY26

The most consistently repeated numbers in the supplied preview are the revenue band, PAT band, and expected margin range, along with Q3 FY26 as the immediate base.

Conclusion: May 2026 result as a near-term catalyst

Indian Hotels’ Q4 FY26 results in May 2026 (expected) will be a key near-term event for investors tracking the listed hospitality space. The consensus lens is clear: revenue versus ₹2,020 to ₹2,180 crore and PAT versus ₹265 to ₹300 crore, with margins expected at 14% to 15.5%. The board meeting is also expected to consider a final dividend recommendation for FY26, adding an additional decision point alongside the audited numbers. The actual results and any dividend announcement are expected to be communicated after the board meeting in May 2026.