Fitch Ratings has upgraded the long-term foreign and local currency issuer default ratings of OYO\'s parent company, Oravel Stays, from \'B-\' to \'B\' with a \'Stable\' outlook. This upgrade reflects the company\'s improved financial profile. The rating on Oravel\'s $660-million senior secured term loan facility, due in 2026, has also been raised from \'B-\' to \'B\'. This follows OYO\'s recent $195 million (Rs 1,620 crore) debt buyback.
| Quantity | Rate/Share |
|---|---|
| 100 - 1000 | 45.00 |
| P/E | -18.13 | P/S | 3.91 | P/B | 3.19 |
|---|---|---|---|---|---|
| Industry PE | 0 | Face Value | 1 | Book Value | 10.98 |
| Market Cap | 21350 Cr | Dividend | 0 | Dividend Yield | 0 % |
About of OYO Rooms (Oravel Stays Ltd)
Oravel Stays Limited (OSL) operates an online portal ‘oyorooms.com’. As per its annual filings, OSL is engaged in the business of activities of marketing and promoting services for visitors by providing information and assistance to organizations to locate accommodation, convention centers and entertainment venues and other travel-related reservation services including for transportation, hotels, rest restaurants, and car rentals. It is also engaged in the operating technology-enabled branded network franchisee of budget hotels and distributing them through its online and offline distribution channels.
Overview of OYO Rooms (Oravel Stays Ltd)
OYO Hotels & Homes is a renowned hospitality company that has revolutionized the hotel industry with its innovative approach to affordable and comfortable accommodations. Founded in 2013 by Ritesh Agarwal, OYO has rapidly expanded its presence across the globe, operating in over 80 countries and managing more than 1.2 million rooms. The business offers consumers the option to choose rooms and living areas that best fit their needs at an affordable price.
Timeline
2013: Opens first oyo in Gurugram
2014: Received Series-A funding
2015: Launch of oyo app Expanded to 100 cities and crossed 10000 rooms
2016: First overseas expansionin Malaysia Hit 1 million checkin for the first time
2017: Launch of oyo townhouse
2018: Expansion outside of Asia-UK Expanded to China and Indonesia
2019: Launched in US, Europe and Middle East
2020: Acquired @Leisure to enter vacation home business across 40 countries
2021: Launched OYO360, a self onboarding platform for patrons.
Business Model
Earlier Model: OYO’s initial business model was to pre-book hotel rooms at a discounted price then sell these rooms on their platform, usually at a higher price. Their revenue was the difference between their price and the price they sold the room for.
Current Model: Slowly OYO has shifted their focus from being an aggregator to managing the entire hotel property.
Oyo presently sells the complete inventory of hotels under its very own branding. This is beneficial for hotels, listed on the OYO platform gives them more traction and helps them acquire more business. And as commission Oyo charges 22% from its hotel partners.
Funding Details
2015: $25 million from investors namely Lightspeed India, Sequoia, and others.
2015: OYO received $100 million in a Series C funding investor SoftBank.
2018: OYO got $800 million from SoftBank.
2019: OYO raised a total of $807 million from Ritesh Agarwal-led RA Hospitality Holdings and SoftBank in series F funding
2021: OYO’s latest funding has come from Microsoft in July. The firm invested $5 Million.
Insights of OYO Rooms (Oravel Stays Ltd)
Financial Summary
FY21, OYO's slaes peaked to ~13,000 cr. to record the highest sales ever with downward slopping losses. But the honeymoon period did not lasted for OYO as 2020 witnessed the rise of Covid 19 pandemic. In FY21 swiggy lost almost 2/3rd of it's previous year's sale and swiggy posted a loss three times higher than the previous year.
But despite of the tailwinds OYO started to witnssed resurgance in demand as Gross Booking Value (GBV) increased by 18% from INR 81,009.58 million in FY22 to INR 95,591.30 million in FY23 driven by an increase in storefronts and GBV per storefront per month for both hotels and homes. GBV per storefront per month increased by ~70% from INR 221,014 in FY22 to INR 375,723.8 in FY23 for hotels.
OYO's rapid expansion plan has bear fruits for them as almost 75% of the revenue is coming from their overseas operations.
| Particulars | FY23 | FY22 | FY21 |
| Net Revenue | 5463.95 | 4781.36 | 3961.65 |
| EBITDA | -373.88 | -1159.88 | -2022.68 |
| PBIT | -516.41 | -1334.86 | -2218.75 |
| PAT | -1286.52 | -1941.56 | -3366.14 |
Balance Sheet of OYO Rooms (Oravel Stays Ltd)
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Equity | 15407.85 | 15368.18 | 15360.13 | 15386.23 | 4599.74 | 1653.55 | 301.16 |
| Liabilities | 80.71 | 118.59 | 74.46 | 152.31 | 359.56 | 131.93 | 62.28 |
| Total Equity and Liabilities | 15488.56 | 15486.77 | 15434.59 | 15538.53 | 4959.31 | 1785.48 | 363.45 |
| Net Fixed Assets | 60.47 | 54.47 | 58.44 | 71.20 | 151.26 | 22.69 | 12.18 |
| Capital Work-in-progress | 0.00 | 0.00 | 0.00 | 5.24 | 0.00 | 0.00 | 0.00 |
| Other Non current Assets | 14595.61 | 14461.78 | 13954.21 | 8394.65 | 1380.65 | 245.21 | 40.48 |
| Current Assets | 832.48 | 970.52 | 1421.93 | 7067.44 | 3427.40 | 1517.58 | 310.79 |
| Total Assets | 15488.56 | 15486.77 | 15434.59 | 15538.53 | 4959.31 | 1785.48 | 363.45 |
Consolidated(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Equity | 582.56 | 1443.59 | 2744.14 | 6449.69 | 8728.66 | 1573.86 | 267.20 |
| Liabilities | 7349.89 | 7008.92 | 6006.90 | 7659.29 | 1144.90 | 183.89 | 119.40 |
| Total Equity and Liabilities | 7932.45 | 8452.51 | 8751.05 | 14108.98 | 9873.56 | 1757.75 | 386.60 |
| Net Fixed Assets | 4100.80 | 3902.94 | 4158.11 | 5149.00 | 740.41 | 75.12 | 17.81 |
| Capital Work-in-progress | 0.00 | 0.00 | 0.00 | 15.56 | 14.25 | 1.76 | 0.00 |
| Other Non current Assets | 1537.20 | 1411.38 | 758.33 | 1449.18 | 776.22 | 123.04 | 13.49 |
| Current Assets | 2294.45 | 3138.19 | 3834.61 | 7495.24 | 8342.69 | 1557.83 | 355.30 |
| Total Assets | 7932.45 | 8452.51 | 8751.05 | 14108.98 | 9873.56 | 1757.75 | 386.60 |
Profit and Loss of OYO Rooms (Oravel Stays Ltd)
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Net Revenue | 25.45 | 17.84 | 11.82 | 36.30 | 3595.13 | 1256.63 | 82.33 |
| Total Operating Cost | 541.28 | 739.24 | 310.76 | 469.81 | 4176.05 | 1618.94 | 419.56 |
| Operating Profit (EBITDA) | -515.83 | -721.40 | -298.94 | -433.52 | -580.92 | -362.31 | -337.22 |
| Other Income | 88.65 | 68.17 | 76.96 | 156.88 | 154.00 | 60.89 | 25.26 |
| Depreciation and Amortization Expense | 16.30 | 13.67 | 15.50 | 12.87 | 26.85 | 8.89 | 9.58 |
| Profit Before Interest and Taxes | -443.48 | -666.90 | -237.48 | -289.50 | -453.77 | -310.30 | -321.54 |
| Finance Costs | 0.15 | 0.23 | 0.11 | 0.10 | 1.78 | 1.22 | 0.58 |
| Profit Before Tax and Exceptional Items Before Tax | -443.63 | -667.13 | -237.59 | -289.61 | -455.55 | -311.53 | -322.12 |
| Exceptional Items Before Tax | 20.99 | -0.69 | -3.60 | -59.30 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax | -464.62 | -667.82 | -241.18 | -348.91 | -455.55 | -311.53 | -322.12 |
| Profit for the Period from Continuing Operations | -464.62 | -667.82 | -241.18 | -348.91 | -455.55 | -311.53 | -322.12 |
| Profit from Discontinuing Operations After Tax | 0.00 | 0.00 | 0.00 | -739.97 | 0.00 | 0.00 | 0.00 |
| Profit for the Period | -464.62 | -667.82 |
-241.18 |
-1088.88 | -455.55 | -311.53 | -322.12 |
Consolidated(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Net Revenue | 5463.95 | 4781.36 | 3961.65 | 13168.15 | 6332.07 | 1403.76 | 120.41 |
| Total Operating Cost | 5837.83 | 5941.24 | 5984.33 | 19330.80 | 8767.72 | 1797.68 | 484.09 |
| Operating Profit (EBITDA) | -373.88 | -1159.88 | -2022.68 | -6162.65 | -2435.65 | -393.92 | -363.69 |
| Other Income | 137.76 | 123.85 | 195.74 | 245.12 | 188.72 | 61.94 | 25.96 |
| Depreciation and Amortization Expense | 280.29 | 298.83 | 391.81 | 2728.17 | 70.10 | 19.51 | 13.32 |
| Profit Before Interest and Taxes | -516.41 | -1334.86 | -2218.75 | -8645.70 | -2317.03 | -351.49 | -351.05 |
| Finance Costs | 681.58 | 745.71 | 559.94 | 741.16 | 10.55 | 8.93 | 4.24 |
| Profit Before Tax and Exceptional Items Before Tax | -1197.99 | -2080.57 | -2778.69 | -9386.85 | -2327.58 | -360.43 | -355.28 |
| Exceptional Items Before Tax | 105.41 | -27.61 | -1001.09 | -1643.93 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax | -1303.40 | -2108.18 | -3779.78 | -11030.78 | -2327.58 | -360.43 | -355.28 |
| Income Tax | 0.24 | 22.77 | 43.75 | -18.23 | 5.72 | 0.01 | 0.03 |
| Profit for the Period from Continuing Operations | -1303.64 | -2130.95 | -3823.52 | -11012.55 | -2333.29 | -360.43 | -355.31 |
| Profit from Discontinuing Operations After Tax | 0.00 | 200.10 | 141.64 | -2026.19 | 0.00 | 0.00 | 0.00 |
| Minority interest and profit from associates and joint ventures | 17.12 | -10.71 | 315.75 | 2437.37 | 600.34 | 0.00 | 0.00 |
| Profit for the Period | -1286.52 | -1941.56 | -3366.14 | -10601.37 | -1732.96 | -360.43 | -355.31 |
Management of OYO Rooms (Oravel Stays Ltd)
RITESH AGARWAL - Director
Shareholding in the company - 39.3 %
VIMAL CHAWLA - Company Secretary
ABHISHEK GUPTA - Chief Financial Officer
ADITYA GHOSH - Director
BEJUL SOMAIA - Director
WILLIAM STEVE ALBRECHT - Director
TROY MATTHEW ALSTEAD - Director
BETSY ATKINS - Director
GERARDO ISAAC LOPEZ - Director
MUNISH RAVINDER VARMA - Nominee Director
FAQs of OYO Rooms (Oravel Stays Ltd)
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What Is The Lock-In Period Of Most Unlisted Shares?
The lock-in period of unlisted shares depends on the category of investors
For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Bira91 (B9 Beverages Ltd.)
For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Bira91 (B9 Beverages Ltd.)
For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
This regulation was brought by SEBI in August 2021. The purpose of the regulation change of lower lock-in period, was primarily to promote greater participation and investments before the IPO listing. Hence, PMS< retail investors, institutions can enjoy better liquidity.
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How Is The Price Calculated?
Unlisted share price determination is also driven by same values – Fundamental values and current demand and supply.
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What Is The Minimum Investment Ticket Size For Buying Unlisted Shares?
We generally address ticket size of Rs 25000 (closest round off).
Press of OYO Rooms (Oravel Stays Ltd)
5th Jun 2024
OYO posts maiden annual net profit of ?100 crore: What Ritesh Agarwal said
Fitch Ratings upgraded the rating of OYO parent firm Oravel Stays citing improved financial profile.
5th Jun 2024
Oyo withdraws IPO application, opts for private funding at 70% valuation cut
SoftBank-backed hospitality company Oravel Stays, the parent company of Oyo Hotels and Homes, has withdrawn the draft prospectus filed with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO).
Company Information of OYO Rooms (Oravel Stays Ltd)
ISIN: INE561T01021
Address: Ground Floor-001, MAURYANSH ELANZA, SHYAMAL CROSS ROAD, NR.PAREKH HOSPITAL, SATELITE AHMEDABAD GUJARAT 380015
Email: secretarial@oyorooms.com
Phone Number: +91-79-41005020
Date of Incorporation: 21-Feb-2012
Date of Last AGM: 06-Sep-2021
Data as Date: 31-Mar-2022
Source of Data: MCA, Toffler,