Revenue and Profit Trends
Over the past seven years, Kamat Hotels' net sales have shown a notable recovery and growth pattern. After a dip during the pandemic years, sales surged from ₹65.99 crores in March 2021 to ₹356.97 crores by March 2025, reflecting a robust rebound in business activity. The total operating income mirrored this trend, rising steadily from ₹65.99 crores in 2021 to ₹356.97 crores in 2025.
Operating profit (PBDIT) excluding other income also improved significantly, climbing from a low of ₹8.85 crores in 2021 to ₹104.69 crores in 2025. Including other income, operating profit reached ₹112.52 crores in the latest fiscal year. This recovery highlights the company's effective cost management and operational efficiency despite challenges.
Profit after tax (PAT) followed a similar trajectory, with losses recorded in 2021 and 2022 turning into profits of ₹46.30 crores in 2025. Earnings per share (EPS) also reflected this turnaround, moving from negative values during the pandemic to a positive ₹15.49 in March 2025.
Fast mover alert! This Large Cap from Automobiles - Passeenger just qualified for our Momentum list with stellar technical indicators. Strike while the iron is hot!
- - Recent Momentum qualifier
- - Stellar technical indicators
- - Large Cap fast mover
Cost Structure and Margins
Kamat Hotels has maintained a consistent operating profit margin excluding other income, hovering around 29% in the last two years, which is a strong indicator of operational stability. Raw material costs and employee expenses have increased in line with revenue growth, but the company has managed to keep other expenses under control, contributing to improved profitability.
Interest expenses have fluctuated, peaking in 2024 at ₹60.55 crores before declining to ₹29.98 crores in 2025, reflecting efforts to reduce debt burden. Depreciation charges have remained relatively stable, indicating consistent asset utilisation.
Balance Sheet and Financial Position
The company’s shareholder funds have strengthened considerably, rising from negative territory in 2021 and 2022 to ₹278.46 crores in 2025. This improvement is supported by a substantial increase in reserves, which grew from a deficit of ₹182.92 crores in 2021 to a positive ₹248.39 crores in 2025.
Long-term borrowings have been reduced from a high of ₹504.95 crores in 2021 to ₹125.20 crores in 2025, signalling a strategic deleveraging. Total liabilities have remained relatively stable around ₹590 crores in recent years, while total assets have increased to ₹589.20 crores in 2025, reflecting asset base stability.
Cash Flow and Liquidity
Cash flow from operating activities has shown a positive trend, rising from ₹1 crore in 2021 to ₹66 crores in 2025, indicating improved cash generation capability. Investing activities have fluctuated, with a notable inflow of ₹145 crores in 2024, followed by ₹34 crores in 2025. Financing activities have seen significant outflows, consistent with debt repayments and deleveraging efforts.
Closing cash and cash equivalents increased to ₹12 crores in 2025, up from ₹7 crores in 2024, supporting the company’s liquidity position.
Holding Kamat Hotels from Hotels & Resorts? See if there's a smarter choice! SwitchER compares it with peers and suggests superior options across market caps and sectors!
- - Peer comparison ready
- - Superior options identified
- - Cross market-cap analysis
Summary of Historical Performance
In summary, Kamat Hotels has experienced a challenging period during the pandemic years, with sharp declines in revenue and profitability. However, the company has demonstrated a strong recovery since 2022, with revenues more than doubling and profitability returning to healthy levels. The balance sheet has been significantly strengthened through reserve accumulation and debt reduction, improving financial stability.
Operational margins have stabilised near 30%, and cash flows from operations have improved markedly, supporting ongoing business activities and debt servicing. While the company’s earnings per share remain below pre-pandemic peaks, the positive trajectory suggests a solid foundation for future growth.
Investors should note the company’s improved financial health and operational performance, balanced against the need to monitor ongoing market conditions and sector dynamics in the hospitality industry.
Limited Time Only! Subscribe for Rs. 12,999 and get 1 Year of MojoOne + an Additional Year Completely FREE. Don't miss out on this exclusive offer. Claim Your Free Year →
