It was a bit disappointing that the management didn’t take the one off costs ( finance restructuring / statutory payments etc) in their calculations while giving the confident 100 Cr EBITDA guidance in the last concall held in Feb 2024.
This episode raises concerns on their guidance of 400Cr/140cr ebitda target for FY25. There will be one off costs in FY25 too considering the plans to add ~600 keys / ramp up of new properties, so will have to wait & watch.
While upfront investments in manpower/opex for upcoming properties is understandable, calling out the total one off expenses in Fy24 might have been prudent in their investor communication so investors have an idea of the normalized EBITDA.
Waiting for the transcript to come out.
Disc: Invested and biased.
| Subscribe To Our Free Newsletter |
