Vikram Kamats Hospitality Limited (formerly known as Vidli Restaurants Limited) has filed its 19th Annual Report for the financial year ended 31st March 2026 with BSE Limited, pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report covers audited standalone and consolidated financial statements and includes the notice for the 19th Annual General Meeting (AGM) scheduled for Monday, 31st August 2026 at 12.00 Noon via Video Conferencing/Other Audio Visual Means.

Financial Performance: Standalone

On a standalone basis, the company delivered a robust performance for FY 2025-26. Total income rose 32.76% year-on-year to Rs. 3,172.79 Lakhs from Rs. 2,389.80 Lakhs in the previous year. Revenue from operations stood at Rs. 2,922.26 Lakhs compared to Rs. 2,270.02 Lakhs in FY 2024-25. Profit before tax surged 269.62% to Rs. 297.73 Lakhs from Rs. 80.55 Lakhs in the prior year. The following table summarises the standalone financial highlights:

The net worth of the company stood at Rs. 5,868.83 Lakhs as compared to Rs. 4,321.53 Lakhs in the previous year. Secured loans were Rs. 2,678.83 Lakhs compared to Rs. 2,528.75 Lakhs in the prior year. The Board has not recommended any dividend for FY 2025-26 in order to conserve resources for long-term requirements.

Financial Performance: Consolidated

On a consolidated basis, total income grew 43.26% YoY to Rs. 5,775.73 Lakhs from Rs. 4,031.71 Lakhs. Revenue from operations reached Rs. 5,599.85 Lakhs versus Rs. 3,890.92 Lakhs in the previous year. However, consolidated profit before tax declined to Rs. 98.47 Lakhs from Rs. 101.45 Lakhs, a decrease of 2.94%, primarily due to initial operating costs of new outlets and exceptional items at the subsidiary level. Consolidated profit after tax stood at Rs. 14.46 Lakhs compared to Rs. 66.73 Lakhs in FY 2024-25.

Exceptional items at the consolidated level for FY 2025-26 included a write-off of accumulated GST Input Tax Credit of Rs. 53.22 Lakhs following a change in GST rates for room tariff services effective 22nd September 2025, and a loss of Rs. 102.09 Lakhs on account of termination of lease agreements at the subsidiary.

Key Financial Ratios (Standalone)

The company reported significant improvement in several key financial ratios for FY 2025-26 compared to FY 2024-25:

Business Operations and Expansion

As on 31st March 2026, the company operated 30 outlets across multiple brands:

During FY 2025-26, the company successfully expanded the Kamats Silvassa Hotel from 75 to 99 guest rooms under its arrangement with Kamats Worldwide Food Services Private Limited. The company also acquired on long-term lease basis Shop Nos. 7, 8, 17, 20, and 21 at Bhandup, Mumbai, where refurbishment and interior fit-outs have been completed for a premium dining establishment under the brand 'Urban Dhaba (Urban Bar) Restaurants.' The company's subsidiary, Vitizen Hotels Limited, commenced full-scale construction at its approximately 100-room hotel property at Kavi Khabardar Marg, Main Road, Near Jetti, Nani Daman.

Share Capital and Preferential Issues

During the year, the company undertook preferential allotments. On 30th October 2025, 13,60,000 fully paid-up equity shares of face value Rs. 10/- each were issued at a price of Rs. 75/- per equity share, aggregating to Rs. 10,20,00,000/-. Additionally, warrants issued on 16th October 2024 were progressively converted: 86,541 warrants on 25th April 2025, 2,43,243 on 25th July 2025, 2,83,784 on 8th August 2025, and 1,54,000 on 2nd March 2026, each at a balance warrant issue price of ₹51.80/- per warrant. A further 1,44,000 and 7,65,325 warrants were converted on 8th April 2026 and 15th April 2026 respectively. Of the 19,12,163 warrants originally issued, 45,270 warrants held by one non-promoter entity lapsed, and the upfront subscription amount of ₹10,04,994/- stands forfeited.

The issued, subscribed and paid-up share capital of the company as on 31st March 2026 stands at Rs. 17,28,98,650/- divided into 1,72,89,865 equity shares of ₹10/- each.

AGM Agenda and Related Party Transaction

The 19th AGM is scheduled for 31st August 2026 via video conferencing. Key agenda items include:

• Re-appointment of Dr. Vikram V. Kamat as Managing Director for a period of 3 years from 7th October 2026 to 6th October 2029. His proposed remuneration is Rs. 3,50,000/- per month, with authority to the Board to increase it up to Rs. 5,00,000/- per month. Perquisites are subject to a maximum limit of Rs. 1,25,000/- per month.
• Approval of a Material Related Party Transaction with Vitizen Hotels Limited, enhancing the existing lending limit from ₹30 Crores to ₹40 Crores. The proposed transaction value represents approximately 69.26% of the listed entity's annual consolidated turnover for the immediately preceding financial year. The loan is unsecured, with a tenure of 10 years with an option to prepay, and interest at the prevailing Government yield rate.

The Audit Committee and Board of Directors approved both proposals at their meeting held on 29th May 2026. The remote e-voting period for the AGM is from Friday, 28th August 2026 at 09:00 a.m. to Sunday, 30th August 2026 at 05:00 p.m.

Subsidiary Performance

Vitizen Hotels Limited, the company's material subsidiary (84.01% held), reported total assets of Rs. 6,700.64 Lakhs, turnover of Rs. 2,886.03 Lakhs, profit before taxation of Rs. 6.50 Lakhs, and profit after taxation of Rs. 5.89 Lakhs for FY 2025-26. No dividend was proposed by the subsidiary.

Statutory auditors M/s Chaturvedi Sohan & Co., Chartered Accountants, issued an unmodified opinion on both standalone and consolidated financial statements. There were no qualifications, reservations, adverse remarks, or fraud reported by either the statutory auditors or the secretarial auditors for FY 2025-26.

Vikram Kamats Hospitality Limited has temporarily suspended operations at its flagship property, VITS Kamats Resort Silvassa, located in Dadra & Nagar Haveli, following severe flash floods. The suspension, effective July 27, 2026, was necessitated by torrential rainfall that caused the adjacent river to breach its banks, inundating hotel premises and cutting off road access via a submerged connecting bridge.

The company disclosed the disruption pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III and the SEBI circular dated January 30, 2026 (HO/49/14/14(7)2025-CFD-POD2/I/3762/2026). Management classified the event as force majeure, prioritizing the safety of guests, employees, and assets by executing a full evacuation of the premises.

Operational Impact and Safety Measures

The operational halt is specific to the Silvassa unit, with no strikes or lockouts involved. The primary cause remains natural calamity-induced infrastructure failure. Key details regarding the incident are outlined below:

The company stated it is actively monitoring the situation in coordination with local municipal authorities. While the exact quantum of loss or damage to assets is currently being assessed, management indicated that operations are expected to gradually normalize over the next few days, barring unforeseen circumstances.

Financial Implications

Vikram Kamats Hospitality confirmed that the incident has been reported to its insurance provider and that adequate insurance coverage exists for potential losses. The financial impact on revenue or assets will be quantified once the assessment is complete. The company intends to submit a subsequent update to the stock exchanges upon the resumption of regular operations.

What This Means for Investors

The temporary suspension highlights the vulnerability of hospitality assets in flood-prone regions to climate-related disruptions. While the immediate operational impact is contained to one property, the speed of recovery will depend on the extent of water damage and infrastructure repair timelines. Investors should monitor subsequent filings for any material financial adjustments or insurance claim outcomes.