Questions across 7 calls

Dipak Saha

Nirmal Bang Institutional Equities

CCL Products (India) Limited

CCL Products (India) Limited CC-Feb26.pdf · 2026-02-05

First of all, congratulations on this great execution, sir, and really pleasure to see Chairman sir, on the call. So just one question, Praveen, sir. First of all, see, I mean, given the kind of volume growth that we have seen and the working capital management that we have done. So earlier, we had this sourcing issue given the geographical proximity from, say, Brazil and our dependence on Brazil and Vietnam. Now given the coffee prices have started coming down, so what would be the sourcing mix between, say, Brazil as far as green coffee is concerned on the Brazil side and Vietnam side?

Got it, sir. Sir, basically, what I was trying to highlight the fact that earlier when the prices were, say, on the elevated side and dependence on Brazil would have -- because of the geographic proximity would have increased our average inventory holding period, right? Now given prices have come down, we would not have that problem now and which is also a reason we are seeing a better inventory management, which is the biggest thing?

CCL Products (India) Limited CC-Nov25.pdf · 2025-11-06

Praveen sir, one question on the B2C part. If you can double-click on the demand driver. I mean, is it more of out-of-home consumption or in-house consumption that we are seeing, which is doing 40%, 45%? I understand base is small, but what is largely driving from the end user perspective? Is it out-of-home or it's in-house consumption or something else? If you can give some color on that?

Got it, sir. And sir, just a follow-up on the previous participant's question on the investments that you have done on the renewable side. And you also highlighted the kind of efficiencies kicking in from working capital point of view and other measures that you are taking. So if you can list out all these other different measurements that you are taking to bring operational efficiencies, both on the operations side and as well as it is reflected on the working capital side, it would be a bit helpful for us to understand.

Chalet Hotels Limited

Chalet Hotels Limited CC-Feb26.pdf · 2026-02-03

Congratulations for a good set of numbers. Just a couple of questions. If I see your addition of keys have been quite meaningful Y -o-Y, specifically two portfolios, one Bangalore and Khandala, so almost 130 -odd keys Bangalore and Khandala 67 . Now if I take, say, 1 year forward, as you target higher occupancies, because these two properties so far, the occupancies would be a little bit lower as you are stabilizing. So, once you target higher occupancy, say, next year during the season times, can we see a trade- off of limited ARR expansion for higher occupancy or do you think overall your rate momentum would stay strong for these 2 properties at the same time you can deliver a little bit higher occupancy?

That should lead to meaningfully strong revenue growth. But as your rates -- I mean, the interpretation that I'm getting, you can correct me if I'm wrong, then essentially, your margins should reverse back to even say high single -digit kind of an ARR growt h, essentially should reverse back to the numbers that we had earlier, say, Q3 FY '25 kind of a number on the EBITDA side?

Chalet Hotels Limited CC-Nov25.pdf · 2025-11-05

Just one question on the Athiva side. Sir, if you can share your broad thought process on ultimately when, I know these are early days, but once it matures, do we have plans to finally enter into management contracts and those sort of portfolios with Athiva?

Sir, secondly, on the resort portfolio, I mean, the blip that we had for 2 quarters, right? And you alluded to the fact that in the coming quarters are looking very strong. So just trying to understand if you can share some color from occupancy and ARR poi nt of view, is it that occupancies will revert back to the normal levels or you are seeing occupancies higher than last year and how the ARRs are shaping up from a booking point of view for H2? How is the trend on that front?

Leela Palaces Hotels & Resorts Limited

Leela Palaces Hotels & Resorts Limited CC-Jan26.pdf · 2026-01-16

For the F&B growth of 29% that we have seen for the quarter, how much of that would be driven by high profile events that we had for the quarter and basically trying to understand whether this kind of a growth rate sticks out for the coming quarters, espec ially, say, Q4. So, just on the sustainability of the F&B side.

Ravi, if you can just a little bit help us understand what's the gross debt position? Is there any difference compared to where we were in H1 FY26 and where we are currently?

Lemon Tree Hotels Limited

Lemon Tree Hotels Limited CC-Jan26.pdf · 2026-01-15

Sir, my first question is with these 202 rooms that we have kept it with ourselves, just on the timeline of these leases remaining, if you can share what are these two properties and what is the remaining timeline for these leases?

Got it. And one last question in this context, sir, is there any divergence in the business strength of these two properties compared to, say, what we have in overall business scenario or is it just because of what you alluded earlier, that is the reason you have not transferred. Just trying to understand from this context?

Lemon Tree Hotels Limited CC-Nov25.pdf · 2025-11-13

Yes. My question is that with Navi Mumbai Airport coming closer to its operation, your broad thought process on the impact on the overall portfolio for Mumbai market.

Sir, one last question. I mean, Indigo has already announced 18 flights operating on a daily basis from that particular airport. Now given we have a meaningful chunk of business coming from crew business, anything you want to share from that point of view? Or do you think i t is going to be offset by incremental demand that we are seeing in the current portfolio?