Howard Hotels Limited has fulfilled its regulatory obligations by submitting the mandatory compliance certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made to the Bombay Stock Exchange on April 06, 2026, ensuring adherence to prescribed regulatory timelines.

Regulatory Compliance Details

The certificate was submitted in accordance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Muskan Garg digitally signed and filed the document, maintaining the company's commitment to regulatory compliance.

Registrar and Transfer Agent Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Transfer Agent. The firm issued the confirmation certificate on April 01, 2026, validating the proper handling of securities during the quarter.

The registrar confirmed that all securities received from depository participants for dematerialisation during Q4FY26 were properly processed within prescribed timelines. Ashok Shetty, Sr. Vice President-Corporate Registry at MUFG Intime India, signed the confirmation certificate.

Dematerialisation Process Compliance

The certificate confirms several critical compliance aspects for the quarter:

• Securities received for dematerialisation were confirmed or rejected to depositories within prescribed timelines
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialisation were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners

Regulatory Distribution

The compliance certificate was distributed to key regulatory bodies and depositories as required. Copies were sent to National Securities Depository Limited at Trade World, Lower Parel, and Central Depository Services (India) Limited at Marathon Futurex, ensuring comprehensive regulatory notification.

This quarterly submission demonstrates Howard Hotels Limited's ongoing commitment to maintaining transparency and compliance with SEBI regulations governing depository operations and participant requirements.

Howard Hotels Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, showcasing mixed performance across different periods. The Board of Directors approved these results on January 28, 2026, following review by the Audit Committee and statutory auditors.

Quarterly Performance Analysis

The company delivered a strong quarterly performance in Q3FY26 with significant improvements in profitability. Revenue from operations increased marginally while the company maintained healthy profit margins during the quarter.

Nine-Month Financial Overview

The nine-month performance showed improvement in loss reduction, though revenue declined compared to the previous year. The company managed to narrow its losses significantly during this period.

Expense Management and Cost Structure

The company's expense management showed varied trends across different categories. Employee benefit expenses decreased in the nine-month period while other operational costs remained relatively stable.

Key Expense Categories (Nine Months):

• Cost of Material Consumed: ₹196.02 lakhs (FY26) vs ₹200.21 lakhs (FY25)
• Employee Benefit Expenses: ₹334.29 lakhs vs ₹359.18 lakhs
• Finance Cost: ₹30.57 lakhs vs ₹36.51 lakhs
• Depreciation & Amortisation: ₹77.68 lakhs vs ₹53.56 lakhs
• Other Expenses: ₹499.33 lakhs vs ₹502.68 lakhs

Auditor's Qualified Opinion

The statutory auditors M/s. BGG & Associates issued a qualified review report regarding the financial results. The qualification relates to the company's approach to deferred tax provisions, as Howard Hotels Limited has not made provision for deferred tax for the quarter and nine months ended December 31, 2025. The company follows the practice of making deferred tax provisions at the end of the financial year.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on January 28, 2026. The meeting commenced at 2:00 PM and concluded at 3:58 PM. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, and comply with SEBI listing regulations.

The company maintains a paid-up equity share capital of ₹911.32 lakhs with a face value of ₹10 per share, which remained unchanged across all reported periods. Howard Hotels Limited operates primarily in the hospitality sector, with hoteliering being its only business segment.