EPS VolatilityNegative EPS growth despite rising revenues points to variability in per-share earnings drivers (one-offs, share changes or margin timing). Persistent EPS volatility can undermine investor confidence and signals that net-income improvements may not be evenly distributed across reporting periods.
Free Cash Flow PressureWhile operating cash flow strengthened to ₹8,250.8m, free cash flow has decreased slightly, indicating rising capex or working-capital absorption. Reduced discretionary cash limits scope for buybacks, higher dividends or large acquisitions, and raises sensitivity to future capital demands.
Cyclical Demand ExposureDependence on occupancy, ADRs and corporate/leisure mix makes revenue cyclical and sensitive to macro shocks or travel disruptions. Luxury hotels also carry high fixed costs and renovation cycles, which can amplify earnings declines during prolonged demand downturns.