Oravel Stays (OYO Rooms) is India's leading hotel chain that owns and operates an online hotel booking platform. Some key points:
- Revenue from operations increased 14.28% to Rs. 5463.95 crore in FY2023 due to recovery in travel post-COVID.
- Net losses were reduced significantly by 93.38% in FY2023 due to higher revenue and other income.
- Liquidity declined as current and quick ratios decreased due to lower current assets from reduced investments and cash.
- Cashflow ratio improved from -0.46x to 0.07x due to increased cash flow from operations in FY2023.
Oravel Stays (OYO Rooms) is India's leading hotel chain that owns and operates an online hotel booking platform. Some key points:
- Revenue from operations increased 14.28% to Rs. 5463.95 crore in FY2023 due to recovery in travel post-COVID.
- Net losses were reduced significantly by 93.38% in FY2023 due to higher revenue and other income.
- Liquidity declined as current and quick ratios decreased due to lower current assets from reduced investments and cash.
- Cashflow ratio improved from -0.46x to 0.07x due to increased cash flow from operations in FY2023.
Oravel Stays (OYO Rooms) is India's leading hotel chain that owns and operates an online hotel booking platform. Some key points:
- Revenue from operations increased 14.28% to Rs. 5463.95 crore in FY2023 due to recovery in travel post-COVID.
- Net losses were reduced significantly by 93.38% in FY2023 due to higher revenue and other income.
- Liquidity declined as current and quick ratios decreased due to lower current assets from reduced investments and cash.
- Cashflow ratio improved from -0.46x to 0.07x due to increased cash flow from operations in FY2023.
Oravel Stays (OYO Rooms) is India's leading hotel chain that owns and operates an online hotel booking platform. Some key points:
- Revenue from operations increased 14.28% to Rs. 5463.95 crore in FY2023 due to recovery in travel post-COVID.
- Net losses were reduced significantly by 93.38% in FY2023 due to higher revenue and other income.
- Liquidity declined as current and quick ratios decreased due to lower current assets from reduced investments and cash.
- Cashflow ratio improved from -0.46x to 0.07x due to increased cash flow from operations in FY2023.
Sector at glance The hospitality market in India is experiencing growth due to the country's rich culture and diversity, attracting global guests.
By 2028, international tourist arrivals are expected to reach 30.5 billion and generate over US$ 59 billion in revenue.
Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.28%, resulting in a projected market volume of US $10.53 bn by 2027.
The direct contribution of the hotel industry to GDP was $40 billion in 2022 and is expected to reach $68 billion by 2027.
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About the company
The company was incorporated as 'Oravel Stays Private Limited' in New Delhi as a private limited company.
It was founded in 2012 by Ritesh Agarwal.
O ravel Stays (OYO) owns and operates an online hotel booking platform.
The company has -
Gross booking value increased from Rs 8100 Cr(FY 2021-22) to Rs 9559.1 Cr(FY 2022-23) Has over 1.57 lakhs+ properties globally Presence across 80+ countries & 800+ cities Over 1.3k+ employees Is The world's second-largest hotel chain.
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Market Data
Particulars Amount
CMP (30/01/2024) INR 68
P/E (x) -35.23
Industry P/E (x) 43.8
Market Capitalization INR 9,031.24 Cr
Total no of O/S Shares 1,329,306,687
Face Value (Equity share) INR 10
Face Value (Preference share) INR 1, INR 10
Book value per share INR 11.99
Altman Z score* -1.95
Enterprise value INR 13639.08 Cr
*Altman Z score is a metric for bankruptcy, ideal score ≥ 3
x represent times
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Products & services OYO Townhouse
OYO Home
OYO Vacation Homes
SilverKey
Capital O
Palette
Collection O
OYO LIFE
YO! HELP
OYO 360
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Management Name Designation Ritesh Agarwal Founder, Chairman & Non-Executive Director Aditya Ghosh Non-Executive Director Bejul Somaia Non-Executive & Independent Director Dr. Deepa Malik Non-Executive & Independent Director Troy Alstead Non-Executive & Independent Director William Steve Albrecht Non-Executive & Independent Director
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Consolidated financial data
Income statement Figures in INR, Cr
Variance Particulars 2021 2022 2023 (2022-23)
Revenue from Operations 3961.65 4781.36 5463.95 14.28%
Profit After Tax (PAT) 3936.83 -1941.56 -1286.28 33.75%
Total comprehensive income
3921.68 -1935.74 -1364.10 29.53% for the year
EPS -5.60 -3.14 -1.93 38.54%
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Balance Sheet Figures in INR, Cr Particulars 2021 2022 2023 Variance (2022-23) Assets Non-Current Assets 4652.91 5314.32 5638.00 6.09% Current Assets 3736.79 3137.98 2294.44 -26.88% Assets Held for Sale 361.34 - - - Total Assets 8751.05 8452.30 7932.43 -6.15% Equity & Liabilities Equity Share Capital 0.03 132.72 132.81 0.07% Instruments entirely equity in 1.11 1.11 1.11 - nature Other Equity 3383.66 2235.82 1458.25 -34.78% Non Controlling Interest -640.66 -926.05 -1009.61 -9.02% Total Equity 2744.14 1443.60 582.57 -59.64%
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Figures in INR, Cr Particulars 2021 2022 2023 Variance (2022-23) Liabilities Non Current Liabilities 2352.38 5014.81 5430.35 8.29% Current Liabilities 3414.01 1993.89 1919.51 -3.73% Liabilities held for sale 240.52 - - - Total Liabilities 6006.91 7008.70 7349.86 4.87% Total Equity & Liabilities 8751.05 8452.30 7932.43 -6.15%
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Cash Flow Statement Figures in INR, Cr Particulars 2021 2022 2023 Variance (2022-23) Net cash flow from/(used in) -2432.63 -921.90 141.84 115.39% operating activities Net cash flow from/(used in) 1705.67 -711.16 -108.83 84.70% investing activities Net cash flow from/(used in) -477.12 703.51 -704.72 -200.17% financing activities Net (decrease)/increase in -1204.08 -929.55 -671.71 27.74% cash and cash equivalents
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Key Financial Figures The revenue from operations of O ravel Stays unlisted shares surged by 14.28% from Rs 4781.36 in FY22 to Rs 5463.95 Cr in FY23 Travel industry's rebound after COVID-19, driven by increased domestic and international revenue, led to increased revenue from operations Sale of accommodation services commissions from bookings, followed by other operational revenue, together contributed 95% to RFO during FY23. Oravel Stays unlisted shares significantly reduced its Net Losses by 93.38% due to an increased RFO & other income in the form of bank interest & reversal of lease liabilities in FY 2022-23.
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Ratios Particulars 2021 2022 2023 Variance
(2022-23) Current Ratio (x) 1.09 1.57 1.20 -24.05% Quick Ratio (x) 1.09 1.54 1.18 -23.23% Cashflow Ratio (x) -0.71 -0.46 0.07 115.98% Debt to Equity Ratio 1.25 3.41 9.16 168.69% Trade Receivable Turnover (x) 34.05 26.76 26.36 -1.47% Trade Payables Turnover (x) 1.81 2.52 2.70 7.29% Net capital Turnover (x) 2.10 6.52 7.19 10.35% Net Profit Ratio -99.55% -40.61% -23.54% 42.03% Return on Equity -79.75% -67.48% -64.93% 3.77% Return on Capital Employed -73.90% -78.58% -61.06% 22.29%
x represent times
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The company's Liquidity declined as the current and quick ratios decreased by 24.05% and 23.57%, respectively, in FY 2022-23 Declined investments & cash & cash equivalents reduced current assets in FY23. The Cashflow Ratio of O ravel Stays unlisted shares increased from -0.46x to 0.07x due to increased cash flow from operations in FY 2022-23. The trade payables of O ravel Stays unlisted shares increased by 7.29% due to a decline in trade payables from Rs 1086.6 Cr to Rs 935.05 Cr in FY 2022-23. The Net Capital Turnover increased by 10.35% due to a decreased average working capital from the last financial year.
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Due to a decrease in losses and increased revenue of O ravel Stays unlisted shares during FY 2022-23 ROE surged by 3.77 NPM surged by 94.20 RoCE surged by 22.29% The debt-equity ratio of O ravel Stays unlisted shares increased by 168.69% due to additional borrowings in FY 2022-2 Borrowings increased from Rs 4919.796 Cr to Rs 5334.6 Cr from FY22 to FY23.
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Peers & Competitors
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Shareholding Pattern
Name of Shareholder % holding
Ritesh Agarwal 39.30%
RA Hospitality Holdings (Cayman) 43.93%
SVF India Holdings (Cayman) Limited 1.76%
Others 15.01%
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Subsidiaries & Associates
Oravel Stays unlisted shares has 83 Subsidiaries and 40 Joint Ventures as of 31st March 2023
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Awards And Recognitions Oravel Stays unlisted shares won various awards such as
“Plutus Pricing Platform” was honoured at the India International Hospitality Expo Awards as the 'Leading Provider of AR/VR Technology' in December 2022. “Plutus Pricing Platform” has been honoured by the AGBA Awards as the 'Most Innovative AI-product' in February 2023 Won the Bronze Award at the Stevie Asia Pacific Awards - nominated Yo! Chat in the Excellence in Customer Service Category. Yo! Platform of OHHPL Featured in the Top 10 Customer Management Technologies awarded by The Asia E-Commerce Awards in November 2022. Won the ‘Travel and Hospitality Award’ at MoEngage Customer Excellence Awards 2022 for Segmentation, Personalisation, and DPM-based communication in October 2022.
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Corporate Actions Year Action Details Pursuant to a special
Converted from Private Company to the resolution passed in EGM, the
2021-22 Public Company company’s name was changed to Oravel Stays Limited
Filed DRHP for IPO On 30th March
Lugos B.V became a subsidiary through 100% shareholding 2022-23 the acquisition Ancient Comfort Pvt Ltd became a joint 50% shareholding venture
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SWOC Analysis
Strengths
Oravel Stays unlisted shares has strong brand Recognition.
Strong Global Presence.
Upcoming IPO for capital infusion into business.
Weaknesses
The constant requirement to maintain a healthy relationships with partners.
The rise in travel creates more opportunities for revenue growth of Oravel Stays unlisted shares.
Oravel Stays unlisted shares should promote the best hygienic facilities to beat the market and attract more customers, which
will eventually help them to increase revenue.
Challenges
Intense Competition from critical players.
OYO is expanding quickly to other nations; there is always pressure to follow and comply with the local rules.
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