Jindal hotels Limited has announced a credit rating downgrade by CRISIL Ratings Limited, effective January 6, 2026. The hospitality company informed the BSE about the revision in its credit rating through a regulatory filing under SEBI listing obligations.

Rating Downgrade Details

CRISIL Ratings Limited has revised the company's credit rating downward, affecting its long-term bank loan facilities. The rating change represents a deterioration in the credit assessment of the hotel operator.

Facility Breakdown

The downgraded rating applies to the company's banking facilities with HDFC Bank Limited, totaling ₹50 crore. The facilities are structured across two categories to meet different operational requirements.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Jindal Hotels Limited received the rating revision communication via email on January 6, 2026, and promptly informed the stock exchange.

Key compliance aspects include:

• Immediate notification to BSE Limited
• Upload of rating information on company website at www.suryapalace.com
• Proper documentation and record maintenance

Rating Validity and Conditions

CRISIL Ratings has specified that the revised rating letter remains valid until March 31, 2026. The rating agency has also stipulated that if the company does not avail the proposed facilities within 180 days from January 6, 2026, a fresh revalidation letter will be necessary.

The rating revision reflects CRISIL's continuous surveillance and review process for all assigned ratings. The agency reserves the right to withdraw or revise ratings based on new information or changing circumstances that may impact the credit assessment.

Jindal Hotels Limited , operator of the Grand Mercure Vadodara Surya Palace, has released its financial results for the second quarter of fiscal year 2026, showing a mixed performance with improved revenue but continued losses.

Financial Highlights

The company's financial performance for Q2 FY2026 and H1 FY2026 is summarized in the following table:

Quarterly Performance

Jindal Hotels Limited reported a net loss of ₹16.40 lakhs for the quarter ended September 30, 2025, showing an improvement from the loss of ₹28.23 lakhs in the same quarter of the previous year. The company's revenue from operations increased to ₹955.50 lakhs, up from ₹890.59 lakhs year-over-year, indicating a growth in business activities.

Half-Year Results

For the first half of FY2026, the company's financial situation presents a more challenging picture. The net loss widened to ₹143.34 lakhs, compared to ₹24.11 lakhs in the corresponding period of the previous year. However, half-year revenue showed growth, rising to ₹1,923.38 lakhs from ₹1,791.72 lakhs in the prior year.

Operational Costs

Total expenses for the quarter stood at ₹984.94 lakhs, an increase from ₹906.02 lakhs in the same quarter of the previous year. This rise in expenses, outpacing the growth in revenue, contributed to the continued, albeit reduced, quarterly loss.

Corporate Governance

The Board of Directors of Jindal Hotels Limited approved these financial results at their meeting held on November 11, 2025. The meeting, which commenced at 11:30 A.M. and concluded at 4:00 P.M., also saw the approval of the Limited Review Report by Statutory Auditors on the Standalone Unaudited Financial Results.

Company Profile

Jindal Hotels Limited operates in the hospitality segment, with its flagship property being the Grand Mercure Vadodara Surya Palace. The company's registered office is located at Sayajigunj, Vadodara – 390 020.

While the company has shown improvement in its quarterly performance with increased revenue and a narrowed loss, the widened half-year loss indicates ongoing challenges. Investors and stakeholders will likely be watching closely to see how Jindal Hotels navigates these challenges and works towards profitability in the coming quarters.