Buy EIH, target price Rs 180: ICICI Direct

ICICI Direct has buy call on EIH with a target price of Rs 180. The current market price of EIH Ltd. is Rs 145.35 Time period given by analyst is one year when EIH Ltd. price can reach defined target.
EIH Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 9017.75 Crore) operating in Tourism & Hospitality sector.

EIH Ltd. key Products/Revenue Segments include Beverages & Food, Income (Room Rent), Other Services and Printed Materials for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 247.87 Crore, up 124.01 % from last quarter Total Income of Rs 110.65 Crore and up 192.30 % from last year same quarter Total Income of Rs 84.80 Crore. Company reported net profit after tax of Rs -27.84 Crore in latest quarter.

Investment Rationale
The b/s provides strong immunity to weather the challenges while strategic property locations provide visibility to ride on the longterm tourism growth story.

Promoter/FII Holdings
Promoters held 35.74 per cent stake in the company as of 30-Sep-2021, while FIIs owned 3.22 per cent, DIIs 13.96 per cent.