amit@unlistedkraft.com
+91-9599071664
+91-9599071664
Oravel Stays Ltd (Oyo Rooms)
DRHP Status : No
52
Current Price
52
Market Cap
37074.00 Cr
ISIN
INE561T01021
Face Value
1
P/E Ratio
154.17
EPS
0.36
P/B Ratio
42.69
Book Value
1.3
Debt to Equity Ratio
2.19
| (in Rs. Crore) | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 5388.7 | 5464.0 | 4781.4 | 3961.7 | 13168.2 | 6332.1 |
| Growth % | -1% | 14% | 21% | -70% | 108% | 0 |
| Operating Expenses | 4681.6 | 5837.8 | 5941.2 | 5984.3 | 19330.8 | 8767.7 |
| Growth % | -20% | -2% | -1% | -69% | 120% | 0 |
| Operating Profit | 707.1 | -373.9 | -1159.9 | -2022.7 | -6162.7 | -2435.7 |
| Profit Before Tax | 235.7 | -1286.3 | -1918.9 | -3893.1 | -13147.9 | -2327.6 |
| Profit After Tax | 229.3 | -1286.5 | -1941.7 | -3936.8 | -13129.7 | -2333.3 |
| Growth % | 117.8% | -33.7% | -50.7% | -70.0% | 462.7% | 0 |
| PAT % | 4% | -24% | -41% | -99% | -100% | -37% |
| (in Rs. Crore) | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Equity Capital | 133.9 | 133.9 | 133.8 | 1.1 | 1.14 | 0.98 |
| Reserves | 122.4 | 172.8 | 214.1 | 245.7 | 258.4 | 524.2 |
| Total Equity | 900.7 | 582.6 | 1443.6 | 2744.1 | 6449.69 | 8728.68 |
| Borrowings | 3556.8 | 5005.1 | 4614.7 | 1900.54 | 2625.97 | 16.6 |
| Other Non-Current Liabilities | 467.8 | 425.3 | 400.1 | 692.4 | 1003.6 | 30.4 |
| Total NC Liabilities | 4024.5 | 5430.4 | 5014.8 | 2592.9 | 3629.6 | 47.0 |
| Borrowings | 46.1 | 66.5 | 49.9 | 1265.46 | 169.91 | 78.38 |
| Other Current Liabilities | 1471.9 | 1853.2 | 1944.3 | 2148.6 | 3859.9 | 1019.5 |
| Total Current Liabilities | 1518.1 | 1919.7 | 1994.2 | 3414.1 | 4029.8 | 1097.9 |
| Equity + Liabilities | 6443.4 | 7932.6 | 8452.6 | 8751.1 | 14107.9 | 9873.6 |
| Fixed Assets (incl. WIP) | 4441.0 | 4100.8 | 3902.9 | 4158.11 | 5164.6 | 754.7 |
| Other Non Current Assets | 580.6 | 1537.2 | 1411.4 | 758.3 | 1449.18 | 776.22 |
| Total NC Assets | 5021.68 | 5638.0 | 5314.3 | 4916.44 | 6613.78 | 1530.92 |
| Trade Receivables | 202.9 | 158.3 | 252.4 | 101.14 | 131.59 | 128.54 |
| Cash & Cash Equivalents | 709.8 | 1677.1 | 2165.7 | 2798.75 | 4855.05 | 4567.68 |
| Other Current Assets | 509.0 | 459.1 | 720.1 | 934.7 | 2507.6 | 3646.5 |
| Total Current Assets | 1421.7 | 2294.5 | 3138.2 | 3834.59 | 7494.24 | 8342.72 |
| Total Assets | 6443.4 | 7932.5 | 8452.6 | 8751.0 | 14108.0 | 9873.6 |
| Name | Holding |
|---|---|
| SoftBank | 45% |
| Ritesh Agarwal (Promoter) | 31% |
| Other Investors | 17% |
| Lightspeed | 3% |
| Sequoia | 3% |
| Airbnb | 1% |
OYO Rooms, founded in 2012 by Ritesh Agarwal, is an Indian multinational hospitality chain that operates leased and franchised hotels, homes, and living spaces
OYO is focused primarily on budget hotels and ensures consistent quality and amenities across its properties, including hotels, vacation homes, and living spaces, through a standardised approach. It leverages a blend of technology and operational expertise to improve customer experience, encompassing booking management, property management, and customer support.
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Ritesh Agarwal | Chairman & CEO | 10yrs |  |
| Aditya Ghosh | Executive Director | 26yrs | |
| Abhishek Gupta | CFO | 20yrs | |
Strengths
- Credit Rating: Credit rating agency, Fitch, upgraded OYO’s rating to 'B' from 'B-' with a 'Stable' outlook.
- Repayment of Debt: Oyo has prepaid its debt up to ₹16.2 Bn Cr in Nov’23 which, further, brought down its gross debt to ₹37.2 Bn. They aims to be Net Debt-free by FY26.
- Improving Profitability: Oyo improved its EBITDA margins (as a % of GBV) from -44% in FY20 to ~+8% in FY24 with a net earning of ~₹100 Cr.
- Franchise model: The Company as on date operates on a totally franchise model with no fixed payout commitments and eliminating capex requirements, boosting profitability.
- Growing Outreach: In FY24, OYO added about 5,000 hotels and 6,000 homes globally.
Weaknesses
- Delay in IPO: OYO filed two addendums to its prospectus, informing investors of its improved business performance in the first half of FY23. However, SEBI has requested additional information in the prospectus, particularly concerning business risk factors. This requirement has contributed to delays in OYO's IPO.
- Subpar service quality: While OYO excels in offering rooms and ensures customers feel they receive good value for their money, the quality and reliability of its services are often questioned and remain quite controversial.
- Falling Valuation: Oyo's valuation dropped from ₹797.5 billion in Aug’21 to ₹287 bn in Jul’24
+91-9599071664
amit@unlistedkraft.com