Samhi
Samhi
Samhi
This is to inform you that the Board of Directors of SAMHI Hotels Limited (‘the Company’)
at its meeting held today, i.e. Friday, 08t November 2024, (which commenced at 04:00
p-m.IST and concluded at 05:15 p.m. IST) has, inter-alia, transacted the following business:
This information is also being uploaded on the website of the Company ie.
https: //www.samhi.co.in,
Thanking You.
Yours faithfully,
Sanjay Jain
Senior Director- Corporate Affairs,
Company Secretary and Compliance Officer
Correspondence
SAMHI Hotels Lid
4" Floor, Buildi
wiww sambi.coin
BSR&Co.LLP DLF Gyrerciy. Prase-tl
Gurugram - 122 002, India
Chartered Accountants Tel: +91 124 719 1000
Fax: +91 124 235 8613
Q,alrxvj Na(]‘u/
Rahul Nayar
Partner
Gurugram Membership No.: 508605
08 November 2024 UDIN:24508605BKGUNJ8117
Registered Offce:
8SRE Co (a partnership firn wit Registraion No_ BAS1223) converted nto B SR & Co LLP (2 1411 Flaor, Central 8 Wing and Noah C Wing, Nesco IT Park 4, Nesco
Limited Liabilty Parinership witn LLP Regisraiion No. AAB-8181) with effect rom October 14,2013 Center, Weslem Express Highvay, Goregaon (East), Mumba - 400063
Page 1 of 1
SAMHI Hotels Limited
CIN_ L55101DL2010PLC211816
Registered Office - Caspia Hotels Delh, Distict Centre Crossing,
Opp Galaxy Toyota Outer Ring Road, Haider Pur, Shalimas Bagh, Delhi-1 10088
[Website www sambi co Emal_nfo@sam con Telephone <91 (124) 4910100
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024
(INR in millon, oxcept per squity share daa)
Quarier cnded Six months caded car cnded.
SN Particulars 30 Sepiember 3033 |30 June 2024__| 30 September 2023 | 30 Sepiember 2024 | 30 September 3023 | 31 March 2021
(Unaudit (Unavdited) [ ) (Unaudited) (Unaudited) (Audited)
1 [income
Revenue from operations 40367 6188 st 76555 71031 150361
(Ot ncome o 2008 S604 190 9584 18122
[Total income 311 38196 a2, 81507 06,15 165683
2 [Expenses
(Cost of matenals consumed 1667 1606 1418 27 2973 6098
[Emoloves beneits expense (Refer note 5) 14831 w77 25073 28609 50689 92220
|Othes expenses. 12136 142 1597 23560 mn w4978
38634 26808 35088 ES¥) BT 14329
3 |Earnings before
L finance costs, depreciation and amortisation, exceptional 146. =
e 1388 466 - 26065 a 631 238 =
4 [Finance costs (Refor note §) 895 9262 50787 19157 o 42 118307
s and amortisaton expense 2434 2411 28 445 4530 9228
12329 11673 530,69 4002 10i681 127535
6 [Profitioss) before exceptional items and tax (3-1-5) ETT 235 (38307 06 57050 (1051.38)
7 |Exceptional tems (net) - fossi(gaun) (Refer note 10) 5258 - . 5258 - (25047)
8 [Loss before tax (6:7) @9.10] 255 133507 [EKS) 57050] (50101
9 [Tax expense
[Curcent tax . 2 - = = -
Deferred tax " " - . - N
(INR in million)|
Asat
Particulars 30 September 2024 31 March 2024
(Unaudited) (Audited)
ASSETS
Non-current assets
Property. plant and equipment 1.861.40 188844
Right-of-use assets. 34358 349.16
Other intangible assets 782 663
Financial assets
Investment in subsidiaries 2628523 27,506.23
Loans 5205 67.02
Other financial assets 21424 20815
Income tax assets (er) 72 2565
Other non-current assets 1934 1159
Total non-current assets (4) 8818 30,062.87
Current assets
Inventories 45 466
Financial assets
Trade receivables 18 65178
‘Cash and cash equivalents 155095 80039
Bank balances other than cash and cash equivalents above - 1307
Loans 149719 -
Other financial assets 105,54 817.97
Other current assets 5034 5262
Total current assets (B) 363971 234049
TOTAL ASSETS (A+B) 32,461.09 3240336
EQUITY AND LIABILITIES
Equity
Equity share capital 22005 22001
Other equity 2801239 27,951.01
Total equity (C) 2823244 2817102
Liabilities
Non-current liabilities
Financial liailiies
Borrowings 3.14337 338255
Lease liabilities 239 2868
Provisions 4955 4289
Total non- current liabilities (D) 321531 345410
Current labilities
Financiel liabilites
Borrowings 73288 246,68
Lease liabiities 2004 1655
Trade payables
- total outstanding dues of micro enterprises and small enterpriscs 610 353
- total outstanding dues of creditors other than micro enterprises and small enterprises 1227 2655
Other financial liabiliies 3612 1764
Other current liabilities 8368 23609
Provisions 1225 1120
Total current liabifities (E) 01334 824
Total liabilities (D+ E) 122865 [ECEN
TOTAL EQUITY AND LIABILITIES (C+D+E) 52,161.09 3240336
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@0 Gurugram‘%
SAMHI Hotels Limited —Sfi
CIN - LS5101DL2010PLC21
1816 A M H I
Registered Office : Caspia Hotels Delhi. District Centre Crossing, e Bannd =
Opp. Galaxy Toyota Outer Ring Road, Haider Pur, Shalimar Bagh, Delhi-110088
Website : www.samhi co in Email . info@sambi.co.in Telephone - -91 (124) 4910100
UNAUDITED STANDALONE STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024
(INRin million)!
For the six months ended
Particulars 30 September 2024 30 September 2023
(Unaudited) (Unaudited)
A. Cash flows from operating activities
Loss before tax (3195) (97050
Adjustments for:
Depreciation end amortisation expense 4845 4539
Finance costs 19157 971.42
Interest income “002) (9297)
Loss allowance for trade receivables 143 &
Loss on foreign exchange fluctuation (net) - 161
Provision no longer required written back (9.00) (©90)
Exceptional tems 5258 -
Unwinding of discount on security deposit (0.49) (023)
Share based payments 8870 2976
Operating cash flows before movement in assets and liabil 30127 183.58
Decrease in inventories 051 138
Decrease (increase) in trade receivables 21881 (84.64)
Decrease (incregse) in other financial assets 180.43 (802)
(Increase)/decrease in other assets (4.45) 110.80
Decrease in loans 1599 -
(Decrease)fincrease in trade payables (11505 33523
(Decrease)jincrease in other liablities (15241 6763
Increase/(decrease) in provisions 567 ©51)
ncrease in other financial liabilities 2960 2071
Cash generated from operations 18037 62616
Income taxes paid (net) 11.24) (46.08)
Net cash generated from operating activities (A) 469.13 580,08
B. Cash flows from investing activities
Proceeds from sale of property. plan and equipment 021 -
Purchass of property, plant and equipment and intangible assets (1431) (8.38)
Loan provided to subsidiarics (including interest free lozn) (2534.28) (.4770D)
Repayment of loan by subsidiarics. 2213.00 26479
Proceads from sale of investment in subsidiary 530,59 -
Acquisition related costs - 5.01)
Bank deposits matured 31678 12,10022
Bank deposits made (304.44) (12287.76)|
Interest received 27, 8258
Net cash generated from / (used in) investing activities (B) 23427 (1340.57)
C. Cash flows from financing activifies
Proceeds from long term borrowings - 4413
Repayment of long term borrowings (50.41) (2.14622)
Proceeeds from intercompany borrowings (net) 24530 -
Proceeds from issuc of equity share capital (net of expenses)
(Refer note 6) 004 143521
Lease payments (8.36) (8.0
Interest on lease liabilities (248) (026)
Finance costs paid (13693) (328627)
Net cash generated from financing activities (C) 47.16 6.037.79
Net increase in cash and cash equivalents (A + B+ C) 750,56 527730
Cash and cash cquivalents at the beginning of the period 80039 603,97
Cash and cash equivalents at the end ofthe period 155095 588127
i Components of Cash and cash equivalents
‘The above Unaudited Standalone Statement of Cash Flows has been prepared under the ‘Indirect Method' as set out in Ind AS 7 ‘Statement of Cash Flows”
SAMHI Hotels ited CA AT
A
STATEVIENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024
!
Remymantpeeymend e, S omowgs (e o
|of interest accrued thereon)
-
9.00000 v 500000 N
2 | General corporate purposes
NP0 proceis
241410/ 668 2,451.36
T
3058
s e
S
Soss :
‘During the year ended 31 Masch 2024, Fully compulsory convertble debentures (FCCDS) held by Interational Finance Corporation (*IEC”) were canverted into one equity share of face value of INR | each at a premium of INR|
23715 and theinterestlabiity of INR 1,474 56 million outstanding in books on the date of conversion had been paid from the PO proceeds.
8 During the year ended 31 March 2024, Non-convertble debentures (NCDs) having maturity value of INR 2.737 50 malion wete paid from the PO proceeds. The mterest expense on these NCDs for the quarter and six monhs|
ended 30 September 2024 1 INR Nil and INR Nil respectively (Quarte ended 30 fune 2024: INR Nil, Quarter ended 30 September 2023: INR 402 66 million, Six months ended 30 September 2023 INR 806 89 miion. Yexr
ended31 March 2024: INR 806 89 milon)
9 The Board of Directors of the Company t heir meeiag held on 27 March 2023 approved a Share Subscription and Purchase Agreement (*SSPA”) between SAMHY Holels Limited snd ACIC Mauritus 1. ACIC Mauitus 2
‘Maurits | and ACIC Mauritias 2 are collctively referred as “Sellers®) and Duct India Hotes (Jaipur) Private Lirvited, Duet Incia Hotels (Pune) Private Limited, Duet India Hotels (Ahmedabad) Private Limited, Duet India (ACIC|
(Hyderabad) Prvate Limied, Duet India Hotels (Chennas) Private Limited, DuetIndia Hotels (Bangalore) Private Limited, Duet India Hotels (Chennai OMR) Private Limited, ACIC Advisory Private Limited and Duet India Horels Horels|
(Navi Mumbai) Private Limited (herein collectively referred as the *ACIC Porfolo’) o acquire the enire securities held by Sellersi the ACIC Porfolio (*Accuisition”) During the year ended 31 March 2024, the Company hd|
‘acquired 100% of the securites held by Selers in ACIC Portfolio = partof a share swap transacton, wherein the purchase consideration ws discharged by issue and alloiment of 37,462,680 equry shares of face value INR | sach|
ata premium of INR 23715 1 the Sellers:
SAMHI Hotels Limited e
CIN_ L55101DLI0IGPLE1516 SAM
(Websie_wy samh com
O Gy T Outer gCapao,
et e Hotlsse, ur,itS eagh, s,
Email
Do 1088 D4 i
_info@samhicon Telephons - £91 (124) 4910100
STATEVIENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024
n accordance with the requirements of nd AS 36 “Imparment of Assets”, the Company had performed an impairment assessment of is invesiments in subsicianes. Consequent 10 such assessment, the Company has recorded 31|
impairment provision of INR 52 58 milion durin the quarter ended 30 September 2024 and impairment reversal of INR 990,74 millon durin he year ended 31 March 2024
During the quarter ended 31 March 2024, the Company had sold i investment in Duet India Hotels (Bangalore) Prvate Limited o Duet India Hotels {Hyderabad) Private Lmited through transfer of 100% equiy shares Both|
‘companies ase wholly owned subsidianes of the Company. Further. 3 scheme of amalyamation dated 23 March 2024 was fled during the quartr ended 31 March 2024 for merger of Duet India Hotels (Bangalore) Prvate Limited|
(Transferor company) with Duet India Hotels (Hyderabad) Private Limited (Transferee company) Subsequent o the quarter eaded 30 September 2024, the regulatory authorties have approved the saud scheme on 3 Noxember
2024
For and on behalf of Board of Dirg
SAMHI Hotels Limited
—
o
Place: Gurugram Ashish Jakhanwala
Date: 08 Noverber 2024 Charrman. Managing Direes
DIN- 03304345
k N,
Building No. 10, 12th Fioor, Tower-C
BSR&Co. LLP DLF Cyber City, Phase- I
Chartered Accountants Gurugram
Tel: 491 124- 122
719 002,
1000 India
Fax: +91 124 235 8613
10 Duet India Hotels (Jaipur) Private Limited Subsidiary (w.e.f. 10 August 2023)
" Duet India Hotels (Pune) Private Limited Subsidiary (w.e.f. 10 August 2023)
12 Duet India Hotels (Ahmedabad) Private Limited Subsidiary (w.e.f. 10 August 2023)
13 Duet India Hotels (Hyderabad) Private Limited Subsidiary (w.e.f. 10 August 2023)
14 Duet India Hotels (Chennai) Private Limited Subsidiary (w.e.f. 10 August 2023)
15 Duet India Hotels (Bangalore) Private Limited Subsidiary (w.e.f. 10 August 2023)
16 Duet India Hotels (Chennai OMR) Private Limited | Subsidiary (w.e.f. 10 August 2023)
18 Duet India Hotels (Navi Mumbai) Private Limited Subsidiary (w.e.f. 10 August 2023)
5 Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing
has come to our attention that causes us to believe that the accompanying Statement, prepared in
accordance with the recognition and measurement principles laid down in the aforesaid Indian
Accounting Standard and other accounting principles generally accepted in India, has not disclosed
the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including
the manner in which it is to be disclosed, or that it contains any material misstatement.
6. The Statement includes the interim financial information of seven subsidiaries which have not been
reviewed, whose interim financial information reflect total assets (before consolidation adjustments)
of INR 3,371.84 million as at 30 September 2024 and total revenues (before consolidation
adjustments) of INR 182.45 million and INR 371.36 million, total net loss after tax (before
consolidation adjustments) of INR 20.84 million and INR 29.10 million and total comprehensive loss
(before consolidation adjustments) of INR 20.84 million and INR 29.10 million, for the quarter ended
30 September 2024 and for the period from 01 April 2024 to 30 September 2024 respectively, and
cash outflows (net) (before consolidation adjustments) of INR 24.81 million for the period from 01
b
April 2024 to 30 September 2024 as considered in the Statement. According to the information and
explanations given to us by the Parent's management, these interim financial information are not
material to the Group.
Page 2 of 3
BSR&Co.LLP
ForBSR&Co.LLP
Chartered Accountants
Firm’s Registration No.:101248W/W-100022
Dok Hagas.
Rahul Nayar
Partner
Gurugram Membership No.: 508605
08 November 2024 UDIN:24508605BKGUNI7919
Page 3 of 3
SAMHI Hotels Limited
CIN_ LSS10IDLAOPLCZISIG
Regiscred Offic - Caspa Hotels el Distnet e Crossing
Opp Galas Toroa Ovter Rng Rosd. Hauder Pur. Shalimar Bagh. Dol
o n Emal_nionsanincon Telshone_+9) (124 1910100
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 1024
ANR 1 milon e
5% Particulars e B 3 e S| S it | S
I Mossdiod | (Unasuted) Linauied) Wnauitcd)
1 [1ncome
Rex e fom overaions 293 stz 410396 957393
Ot income o2 1o 01 FTiet
Totlincome Samie Lo S0
2 [Exoenses
Cosof mocrals consuncd w16 s 16595 5505 e 70
Empioce benefils cocnse (Refro 6 stlo w2 si0o s 103927 21375
Oter xocnscs Lo Loy e 26 L6511 ey
TS 75— TE Y B¥TITS X com7e]
3 [Barnines eforefnance costs, depreiaron and smaristion,excepionsi tems ] — wasd ) D ol
and tax (1)
4 {Fnance costs Reter ot 1) o8 55569 L1610 L 148110
5 | Deoretavon nd amrustion xocnse: w0 ni s w0 L
[Ty [ Lizaos Tonsss IS
| Profiutios before cxccoriona e and s (3451 Iy 7T T I ITEERY )|
7 |Excemtonal nems(ne - emnbtoss Reter ok 12) 3 g 3 . - L
& [erafution) before tax 61 I T i o) ITETER) G|
9 | Toxcxmeme
Curent o : : . o1 e
Defimed i wiml 150 aen) 3 5]
] o) s )
10| Proflos) or the periodyear (53) Bais T T TRITED) x|
11 {oter comorchensive income
e ot il o e recssed10 profit o o<
e measurament (o) on defied benefit o a6 w0 226 am) £ 465
~ncome 3 laun 0 s oo v . 5 2 2 2 3
Othercomorcheni ncome o). nct of tax e 31 XT3 G| T} e
12 [Tota compreheasive incomelos fortheperiodisear (104111 e ¥ Z I FORITES TEXTIER
11 [peoiton auribuabie :
Owners ofthe Comaany an wmoo| 16829 ) @346 18)
Non controlng mrest = = = < z Z
Profiuion for the peridivear AT Fr T | W TRIFET [EXTATY
Other comorehensiveincome oss) sitribuable o
O f the Comaans 650) 029 226 am) 5
Non-convolin increst - < % 2 <
Other comorehensive income! low for the periodcur G e 3 T )
15| Total comprehensive incomelioss) ateibutable 0
Owners ofthe Comary e 20 | 16479 w3 s
Non-comirlling imrest: = = Z < - =
Totl comprcnsive ncomellos) for the periodisear (13+14) e A e TR s
16 [Paid un cavit share capital (fac v o INR 1 cch. ol oaia) 22008 2008 nem 2mos 21t 2001
17| Other casity 25 shown in the udiica blance sheet. w653
18| Earnines (low)per cavit shar (Face volue of INR 1 cachi:
oot smusisd o ance 304 s moots o)
e (R 057 am 361 on 1656 a6
D (NR) 036 0w a6 075 686 aien|
- ZCo\ |
SAMHI Hotels Limited
CIN : L55101DL2010PLC21
1816
Registered Office : Caspia Hotels Delhi, District Centre Crossing,
Opp. Galaxy Toyota Outer Ring Road, Haider Pur, Shalimar Bagh, Delhi-110088 —SWART HOTEL INVESTWENTS—
Website - www.samhi.co.in Email - info@samhi co in Telephone - <91 (124) 4910100)
STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2024
(INR in million)
Asat
Particulars 30 September 2024 31 March 2024
(Unaudited) (Audited)
ASSETS
Non-current assets
Property. plant and equipment 22,559.58 23,047.70
Capital work-in-progress v 87705 32463
Right-of-use assets 198854 175859
Investment property - 143.01
Goodwill 452804 452804
Other intangible assets 2573 2769
Financial assets
Loans 5205 67.02
Other financial assets 109116 1311.69
Income tax assets (net) 33069 30534
Other non-current assets 25564 12527
Total non-current assets (A) 31,708.48 31,638.98
Current assets
Inventories 3793 40.40
Financial assets
Trade receivables 777.04 605.41
Cash and cash cquivalents 1.946.98 132368
Bank balances other than cash and cash equivalents above - 15055
Other financial assets 23513 34502
Other current assets 48068 34713
Total current assets (B) 3471.76 281219
TOTAL ASSETS (A+B) 35.186.24 3445117
EQUITY AND LIABILITIES
Equity
Equity share capital 22005 22001
Other cquity 1042564 1016539
Total equity (C) 10.645.69 10.385.40
Liabilities
Non-current liabilities
Financial liabilities
Bormowings 1649224 15.596.98
Lease liabilities 43122 37429
Other financial liabilties 185 175
Provisions 8622 7674
Deferred tax liabilities (net) 37939 391.05
Other non-curtent liabilities 260.73 27418
Total non-current liabilities (D) 17,657.65 16,714.99
Current liabilities
Financial liabilities
Borrowings 505614 5,166.48
Lease liabilities 9773 89.26
‘Trade payables
- total outstanding dues of micro enterprises and small enterprises 7944 7491
- total outstanding dues of creditors other than micro enterprises and small enterprises 87978 1.194.00
Other financial liabilities 279.18 24569
Other current liabilities 42353 51766
Provisions 6710 6278
Total current liabilities (E) 6.882.90 7.350.78
Total liabilities (D+ E) 2454055 24,065.77
TOTAL EQUITY AND LIABILITIES (C+D+E) 3518621 3445117
SAMHI Hotels Limited
CIN : L55101DL2010PLC211816
Registered Office - Caspia Hotels Delhi, Distriet Centre Crossing, —SMART HOTEL INVESTWENTS=
Opp. Galaxy Toyota Outer Ring Road, Haider Pur, Shalimar Bagh, Delhi-110088
| Website - www.samhi.co in Email - info@samhi o in Telephone : +91 (124) 4910100)
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024
(INR in million)
For the six months ended
Particolars 30 September 2024 30 September 2023
(Unaudited) (Unaudited)
'A. Cash flows from operating actr
Loss before tax 156.82 (1,719.22))
Adjustments for:
Depreciation and amortsation expense 58762 50890
Unrealised loss on foreign exchange fluctuation (nct) 554 517
Finance costs L1723 22349
Interest income. (6275)| (35.85)|
Loss allowance for trade receivables 2141 1285
Share based payments 8870 297
Unwinding of discount on security deposits (5.0) @)
Amortisation of income received in advance (423) “.22)
Provisionsliabilities no longer required written back (3582) (1.38)
Operating cash flows before movement in assets and liabilities T869.47 T315.23
Increase in trade receivables (193.04) (50.02)
Decrease in inventories 247 313
Decrease in loans 1737 531
Decrease / (increase) in other financial assets 7390 091)
(Increase) / decrease in other assets (154.96) 5874
Increase in provisions 1009 1006
(Decrease) / increase in other financial liabilities (10.10) 812
(Decrease) / inerease in other labilities (98.56) 10412
(Decrease) / increase in frade payables (27283) 339.41
Cash generated from operations 124381 167319
Income taxes paid (net) 28.28)] (102.21)|
Net cash generated from operating activities (A) 1.215.53 1,570.98
* Balances as at 30 September 2023 includes unutilised Net IPO proceeds. (Refer note 7)
The above Unaudited Consolidated Statement of Cash Flows has been prepared under the 'Indirect Method' s set out in Ind AS 7 ‘Statement of Cash Flows'
b
SAMHI Hotels Limited
CIN_LS5101DL20I0PLC211816
Registered Office Caspia Hotels Delhi, Disirct Centre Crossing, S Wit =
Opp Galaxy Toyota Outer Ring Road, Haider Pur, Shalimar Bagh, Delni-1 10088
Website - www samhi co in Email_info@samhicoin Telephone <91 (124) 4910100)
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024
[Notes to the Statement of unaudited const ted financial results for the quarter and six months ended 30 September 2024:
The above unaudited consolidated financial results of SAMHI Hotels Limited (hereinafter referred to a5 “the Parent” or 'the Company”) and its subsidiaries (the Parent and its subsidiaries together
referred to as “the Group") have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34°),
prescribed under Section 133 of the Companies Act, 2013 read with Companies (indian Accounting Standards) Rules, 2015, as amended from time to time, and other accounting principles generally|
accepted in India and in compliance with Regulation 33 of the Sccurities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing
Regufations")
‘The Group comprises the followmg subsidiaries
(i) SAMHI IV Business Hotels Private Limited
(1) SAMHI Hotels (Gurgaon) Private Limited
iii) Barque Hotels Private Limited
(iv) SAMHI Hotels (Ahmedabad) Private Limited
(v) CASPIA Hotels Private Limited
(vi) Ascent Hotels Private Limited
(vii) Argon Hotels Private Limited
(vir) Paulmech Hospitality Private Limited
(ix) Duet India Hotels (Chennai) Private Limited (w¢ F. 10 August 2023)
() Duet India Hotels (Hyderabad) Private Limited (w.e £, 10 August 2023)
(xi) Duet India Hotels (Pune) Private Limited (we f. 10 August 2023)
(xti) Duet India Hotels (Ahmedabad) Private Limited (we f 10 August 2023)
(xiti) Duet India Hotels (Chennai OMR) Private Limited(w ¢ £ 10 August 2023)
(xiv) Duet India Hotels (Jaipur) Private Limited (w e f. 10 August 2023)
(xv) Duet India Hotels (Bangalore) Private Limited (we F. 10 August 2023)
(xv1) Duet India Hotels (Navi Mumbai) Private Limited (w.e £. 10 August 2023)
(xvit) ACIC Advisory Private Limited (we £. 10 August 2023)
‘The above unaudited consolidated financial results for the quarter and six months ended 30 September 2024 were reviewed and recommended by the Audit Committee and approved by the Boardo
Directors of the Parent at their respective meetings held on 08 November 2024. The Statutory Auditors of the Company have conducted *Limited Review” of these unaudited finaneial results i terms of
Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time and have issued an unmodified review|
opmion
‘The results for the quarter and six months ended 30 September 2024 are available on the Bombay Stock Exchange website (URL: www bseindia com), the National Stock Exchange website (URL:
www nseindia.com) and on the Parent's website (URL. www samhi o in)
Based on the “management approach as defined in Ind AS 108 - Operating Segments, the Chief Operating Decision Maker ("CODM") evaluates the Group's performance at an overail group level as one|
segmenti ¢ *developing and running of hotels" Accordingly, the disclosures as per the Listing Regulations are not applicable to the Group
On 09 March 2023, the Board of Dircctors of the Parent approved 'Employees” Stock Option Plan 2023 - I (‘the Plan®) that entitles eligible employees o acquire equity shares in the Parent. Under the|
Plan, 5,477,860 options were grantedto eligible employees. These options provide the holders of such vested options, the opportunity to acquire equity shares (1 equity share for 1 option) in the Parent|
per the terms and conditions specified in the Plan. During the quarter and six months ended 30 September 2024, Ni and 46,141 options respestively (Quarter ended 30 June 2024 - 46,141 optrons, Quartr]
ended 30 September 2023 il Six months ended 30 September 2023 - Nil. Year ended 31 March 2024 1,971,169 options) were excrcised and accordingly Nil and 46,141 equity shares respectively
(Quarter ended 30 June 2024 46,141 equity shares, Quarter ended 30 September 2023 Nil, Six months ended 30 September 2023 - Nil, Year ended 31 March 2024 - 1,971,169 equity shares) of INR 1
each were issued. During the current quarter and six months period ended 30 September 2024, the Company has disclosed share-based payments under head ‘employee benefits expense’ Until previous
periods, the same was disclosed separately on the face of Statement of Unaudited Consolidated Financial Results owing to significance of amounts involved in the previous periods. The share-based|
payments expense for the year cnded 31 March 2024 aggregating Rs 459 51 million has accordingly been grouped under head ‘employee benefits expense™
During the quarter ended 30 September 2025, the Parent had completed its Initial Public Offer (*[PO") of 108,738,095 equity shares of face value of INR | each at an issuc price of INR 126 per equity
share (including share premium of INR 125 per equity share) consisting of a fresh issue of 95,238,095 equity shares aggregating to INR 12,000,00 million and an offer for sale of 13,500,000 equity shares|
aggregating to INR 1,701 00 million The equity shares of the Parent were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 22 September 2023 As per Prospectus|
dated I8 September 2023, the IPO proceeds [net of offer cxpenses] (“Net PO proceeds”) were proposed to be utlized for repayment / prepayment / redemption, in full or 1n part, of certain borrowings|
‘availed by the Parent and its subsidiaries including payment of interest accrued thereon and for general corporate purposes
‘The Parent had estimated INR 671 22 million as IPO related expenses and allocated such expenses between the Parent INR 585 90 million and sellng shareholders INR 85 32 million. Such amounts were|
allocated basedon agreement between the Parent and selling shareholders and in proportion to the total proceeds ofthe [PO
-
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SAMHI Hotels Limited
CIN_L55101DL20I0PLC211816
Regstered Office. Caspia Hotels Delhi, District Centre Crossing, SRt bedtui =
Opp Galaxy Toyota Outer Ring Road, Harder Pur. Shalimar Bagh, Delhi-1 10088
[ Website_www samhi co in Emal : info@samhico in Telephone 91 (124) 4910100]
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2024
‘The Parent has received an amount of INR 1,414 10 million (net of estimated [PO expenses of INR 585 90 million) from proceeds out of fresh issue of equity shares
Subsequently, actual offer expenses incurred by the Company amounted to INR 664 54 million (INR 580 05 milion for fresh 15sue and INR 84 49 million for offer for sale) During the quarter endied 30|
‘Scptember 2024, the surplus amount remaining of INR 6 68 mullion was transferred from Public Offer Account to the Monitoring Account
‘The utilisation of the net IPO proceeds is summansed below.
(INR in milion)
Net IR0 proceeds 10| Surplus amaunt of | UIS2O0 0Nt | 4o income from | Unatilised Net 1PO proceeds a5 on 30
s.No. Objects of the issue as per prospectus e uilised a5 per | o rrer expenses. L b fixed deposit September 2024
Prospectus ®) 30 September 2024 ®) vk
(A+B-C+D)
“) ©
Repaymend prepayment redemption. of
1 [borrowings (including payment of mterest accrued 900000 . 900000 - -
thereon)
2 |General corporate purposes 2414.10) 568 245136 3058 -
Net 1PO proceeds 1141410 6.8 11,451.36) 3058 -
During the year ended 31 March 2024. Fully compulsory convertible debentures (FCCDs) held by Intemational Finance Corporation (*IFC) were converted 1nto one equity share of face value of INR |
each at a premuum of INR 237 15 and the interest liabilty of INR 1,474 56 million outstanding in books on the date of conversion had been paid from the IPO proceeds
During the year ended 31 March 2024, Non-convertible debentures (NCDs) having maturity value of INR 2,737 50 million were paid from the [PO proceeds The interest expense on these NCDs for the
‘quarter and six months ended 30 September 2024 15 INR Nil and INR Nil respectvely (Quarter ended 30 June 2024 INR Nil. Quarter ended 30 September 2023 INR 402 66 million, Six months ended 30|
September 2023 INR 806 89 million. Year ended 31 March 2024 INR 506 89 million)
‘The Board of Directors of SAMHI Hotels Limited at their meeting held on 27 March 2023 approved a Share Subscription and Purchase Agreement ("SSPA") between SAMHI Hotels Limited and ACIC|
Mauritivs 1, ACIC Mauritius 2 (ACIC Mauritius 1 and ACIC Mauritius 2 are collectively referred as "Sellers") and Duet India Hotels (Jaipur) Private Limited, Duet India Hotels (Pune) Private Limited,|
Duet India Hotels (Ahmedabad) Private Limitcd, Duct India Hotels (Hyderabad) Private Limited, Duet India Hotels (Chennai) Private Limited, Duet India Hotels (Bangalore) Private Limited, Duct Indial
Hotels (Chennai OMR) Private Limited, ACIC Advisory Private Limited and Duet India Hotels (Navi Mumbei) Private Limited (hercin collectively referred as the ‘ACIC Portfolio’) to acquire the entire|
securities held by Sellers in the ACIC Portfolio (*Acquisition"). During the year ended 31 March 2024, SAMHI Hotels Limited had acquired 100% of the securities held by Sellers in ACIC Portfolio s
part of a share swap transaction, wherein the purchase consideration was discharged by issue and allotment of 37,462,680 equity shares of Face value INR | each at a premium of INR 237 15 to the Sellers
As atand for the year ended 31 March 2024, the Group was in non-compliance with certain financial covenants prescribed under the Joan agreement for which it had sought and received waiver leters
‘The Group’s financial position had substantially improved post-acquisition of ACIC Portfolio and receipt of IPO proceeds in the previous year, and expects to continu to senerate positive operating cash|
flows which will be sufficient to cover its future debt repayment and interest obligations Based on the past experience and improved financial positon of the Group, the management is confident of
‘complying with the financial covenants in current year and subsequent years and meet its funding requirements [n view of the above, the Management and Board of Directors of the Company have|
prepared these unaudited consolidated financial resultson a going concen basis
13 Duriny the year ended 3| March 2024, the Company had acquired a land parcel (leasehold land) situated at Navi Mumbai as a part of the ACIC Portfolio acquisition explained n note 10 above The said|
land parcel was zllotted on lease by Maharashira Industrial Development Corporation (*MIDC’) During the quarter ended 31 December 2025, the Company was n the process of obtaining relevant|
‘approvals and permits from MIDC for commencing development work During the quarter ended 31 March 2024, the Company had recerved a notice from MIDC for lcase termination. The manaement
had filed a writ petition against the aforesaid notice before the Bombay High Court which is pending for disposal. I the event of an actual loss. the management also plans to claim available contractual
indemnities for the aforesaid loss from the Sellers as stated in SSPA
Accordingly. based on the above. the followin were reflected as exceptional items on a net basis (Also refer Note 12) in the consolidated financial results
- Provision for impairment of night of use assets INR 821 67 million
- Provision for impairment of Capital work-n-progress INR 46 61 million
- Expected recovery of indemnity from the Sellers based on lezal advice INR 100 00 mllion
Further, deferred tax liability of INR 71 59 million relating to the right of use assets referred to above. had been reversed as part of tax expense
14 Subscquent to the quarter and six months ended 30 September 2024, the Company has acquired 100% share captal of Innmar Tourism and Hotels Privae Limited (*Target™) constituting 437,500 equity|
shares of INR 10 each for an enterprise value of circa INR 2,05000 million adjusted for net working capital including cash Further, Duet India Hotels (Hyderabad) Private Limited (a wholly owned|
subsidiary of the Company) has completed the exceution of 2 ease deed on 7 Noverber 2024 with respect 10 a ready building in Hitee City, Hyderabad The transaction is being done on a long-term|
variable lease model
15 During the quarter ended 31 March 2024, the Company had sold s nvestment in Duet India Hotels (Bangalore) Private Limited to Duet India Hotels (Hyderabad) Private Limited through transferof
100% equity shares. Both compantes are wholly owned subsidiaries of the Company Further, & scheme of amalgamation dated 23 March 2024 was filed during the quarter ended 31 March 2024 for
merger of Duet India Hotels (Bangalore) Private Limited (Transferor company) with Duet India Hotels (Hyderabad) Private Limited (Transferce company) Subsequent to the quarter ended 30 September
2024, the regulatory authorities have approved the said scheme on 3 November 2024 This does not impact the Unaudited Consolidated Financial Results
04