Advani Hotels & Resorts (India) Limited, approved the unaudited standalone financial results, for the quarter and full year ended 31st March 2024.
Financial Table:
| Particulars (INR In Lakhs) | Q4 FY24 | Q4 FY23 | FY24 | FY23 |
| Total Income | 3,353 | 3,098 | 10,844 | 10,063 |
| Operating Expenses | 1,825 | 1,583 | 7,152 | 5,948 |
| EBITDA | 1,528 | 1,514 | 3,692 | 4,115 |
| EBITDA Margin (%) | 45.6% | 48.9% | 34.0% | 40.9% |
| Profit Before Tax | 1,438 | 1,440 | 3,349 | 3,836 |
| Income Tax (including Deferred Tax) | 379 | 347 | 854 | 976 |
| Profit After Tax | 1,059 | 1,093 | 2,496 | 2,860 |
| Total Room Nights Sold (Numbers) | 15,471 | 16,618 | 57,685 | 57,320 |
| Occupancy (%) (on available rooms for sale) | 87.6% | 95.4% | 83.9% | 82.5% |
| Total Revenue per occupied room per night (TRevPOR) (INR) after subtracting taxes | 21,675 | 18,641 | 18,798 | 17,556 |
| Liquid Fund Reserves (including Fixed Deposits) | 4,488 | 3,321 | 4,488 | 3,321 |
Key performance indicators of the quarter ended March 2024 are below:
- During the year, the revenue has improved on a YoY basis by 8%. This is despite a decrease in demand for the overall destination of Goa, due to domestic tourists traveling overseas for holidays and due to a reduction in foreign tourists to Goa. Caravela organized 45 weddings in FY24, representing the hotel’s all-time high wedding business. Additionally, improvements in MICE further boosted revenue. This is achieved without adding any rooms or F&B facilities and the Company’s fixed assets have remained the same over some time.
- In FY24, in comparison to the previous year, the EBITDA margin declined to 34% due to investments in the workforce, including hiring new talent and rewarding the existing talent pool with increments to encourage and retain valuable employees. Other expenses include additional expenses incurred to upgrade the hotel facilities as the 5-Star DELUXE classification of the hotel was due for renewal.
- During the year, the hotel recorded an average occupancy of 83.9% vs 82.5% last year. Total Revenue Per Occupied Room per Night (TRevPOR) also increased during FY24 to INR 18,798 vs INR 17,556 last year. Due to this, our revenue grew by 8% in FY24.
- The Company is debt-free and the Liquid Fund Reserves (including Fixed Deposits) are at INR 4,488 lakhs as of 31st March 2024.
- The Company has declared its second interim dividend of 40% i.e. INR 0.80 per share, which will result in a pay-out of INR 739.51 lakhs on the enhanced Paid-up Capital post the 1:1 Bonus issue in FY24.
- Taking into account the first interim dividend of 100% declared earlier and the 40% dividend declared now on the enhanced capital post-bonus issue, this is the highest dividend pay-out for any financial year in the history of our Company.
- The Company continues to reward its shareholders with a dividend pay-out of 67% of the net profit, which is one of the highest dividend payout percentages.
Sunder G. Advani, Chairman and Managing Director of Advani Hotels and Resorts (India) Limited, said, “We are excited to report that the revenue for Q4 & FY24 has set a new record as the highest ever quarterly and full year revenue in the history of the Company.
“This achievement reflects consistent revenue growth, given the highest number of weddings we have done this year. With a significant contribution to our exceptional occupancy rate, we are dedicated to sustain this momentum in FY25 with continued growth driven by MICE and leisure travel.
“As we move ahead, we are optimistic about our future and remain committed to investing in our business to enhance our value proposition for our guests. Caravela Beach Resort has been awarded 5-Star DELUXE classification by the Ministry of Tourism, Government of India for next 5 years upto December 10, 2028,” Advani said.
