ORIENTAL HOTELSOriental Hotels LimitedNSE:ORIENTHOTTechnicalAnalystSucritOriental Hotels Ltd. (CMP ₹139.00, NSE: ORIENTHOT) The SmartWay Research Desk | 20 August 2026 A Chennai‑based hospitality company, incorporated in 1970. Oriental Hotels operates a portfolio of luxury and premium hotels under the Taj brand, managed by Indian Hotels Company Ltd. (IHCL). The company’s properties are spread across South India, including Chennai, Bengaluru, Kochi, and Thiruvananthapuram. FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹842 Cr vs ₹712 Cr in FY25 (+18.2% YoY). → Good Net Profit: FY26 PAT ₹112 Cr vs ₹92 Cr in FY25 (+21.7% YoY). → Good Operating Margin: FY26 EBITDA ₹212 Cr, margin 25.2% vs 24.5% last year (+70 bps). → Good Equity Capital: Stable, face value ₹1. → Good Dividend Policy: Dividend ₹2.00/share declared for FY26. → Good Asset Building: Investments in renovation of Taj Coromandel and expansion of premium properties. → Good Sales: Strong demand from business travel, leisure tourism, and MICE events. → Good Expense: Operating costs remain high due to hospitality inflation. → Neutral/Good EPS: FY26 EPS ₹3.25 vs ₹2.70 last year (+20.4%). → Good Institutional Interest & Ownership Trends (Mar 2026) Promoter Holding (IHCL/Tata Group): ~63.8% (no pledges) FII Holding: ~12.2% DII Holding: ~14.1% Retail & Others: ~9.9% Strategic Moves & Innovations Expansion in luxury and premium hotels under Taj brand. Focus on renovation and modernization of flagship properties. Partnerships with IHCL for hospitality synergies. Diversification into banqueting, conferences, and wellness tourism. Cash Flow & Balance Sheet Strength Market cap ~₹2,600 Cr. Debt‑to‑equity ratio ~0.42 (moderate leverage). Book value per share ₹42.00; P/B ~3.3. EPS (TTM) ₹3.25; P/E ~42.8. Risk Factors High P/E ratio ~42.8, valuations expensive. Dependence on tourism and corporate travel cycles. Exposure to hospitality inflation and regulatory risks. Competition from Indian Hotels, EIH Ltd., and Lemon Tree Hotels. Investor Takeaway Oriental Hotels has delivered steady FY26 performance, supported by tourism recovery, corporate travel demand, and Taj brand strength. With promoter backing, dividend payouts, and leadership in South India’s premium hospitality segment, Oriental Hotels remains a small‑cap hospitality play. At CMP ₹139.00, valuations are expensive (P/E ~42.8, P/B ~3.3), reflecting growth expectations but also sectoral risks.