Sterling Holiday Resorts Ltd., a prominent player in India’s hospitality sector, has announced its highest-ever Q4 revenue for the fiscal year 2026, achieving a remarkable ₹1,409 million, marking a 14% increase year-on-year. The company also reported an EBITDA of ₹348 million, reflecting a 10% growth from the previous year, and a Profit Before Tax (PBT) of ₹206 million, maintaining a robust EBITDA margin of 25% despite ongoing investments in expansion and technology.
For the full fiscal year 2026, Sterling recorded a total revenue of ₹5,487 million and an EBITDA of ₹1,701 million, with an impressive EBITDA margin of 31%. The PBT for the year stood at ₹1,142 million. This performance underscores Sterling’s strategic focus on resort-led growth and its disciplined approach to capital allocation, which has resulted in 25 consecutive profitable quarters.
Sterling’s resort business has been a key driver of this growth, with resort revenue increasing by 15% year-on-year to ₹4,678 million. Room revenue saw a significant 21% rise, while food and beverage revenue grew by 14%. The resort segment now contributes 85% to Sterling’s total revenue, up from 79% last year. In Q4 FY26, room revenue surged nearly 40% to ₹672 million, with occupancy rates improving to 64% from 58% the previous year.
The company has also been on a rapid expansion trajectory, crossing the milestone of 78 resorts across 65 destinations, with over 3,800 rooms. Sterling plans to expand further, aiming to reach 95 resorts and 4,500 rooms by 2027, focusing on high-growth Tier 2 and Tier 3 markets.
Sterling’s financial health remains strong, with a debt-free balance sheet and cash reserves growing at a compound annual growth rate of 55% to nearly ₹3,400 million. Operating free cash flow increased by 49% year-on-year to ₹1,140 million.
The company has also strengthened its brand and customer experience, with 30 resorts and 11 restaurants receiving TripAdvisor Excellence Awards. Sterling’s digital platform, Sterling ONE, now connects directly with over 7,000 travel partners and 360 corporates.
Commenting on the results, Mr. Vikram Lalvani, Managing Director & CEO, highlighted the company’s record-breaking performance and its strategic positioning to capitalise on India’s burgeoning domestic leisure travel market.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).