Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4.86 | 11.46 | 9.89 | 16.63 | 20.30 | 41.19 | 40.63 | 31.71 | 18.90 | 40.97 | 42.67 | 37.36 |
| Expenses | 3.43 | 9.36 | 8.72 | 15.03 | 16.58 | 32.81 | 32.68 | 24.13 | 20.93 | 26.34 | 37.76 | 30.45 |
| Operating Profit | 1.43 | 2.10 | 1.17 | 1.60 | 3.72 | 8.38 | 7.95 | 7.58 | -2.03 | 14.63 | 4.91 | 6.91 |
| OPM % | 29.42% | 18.32% | 11.83% | 9.62% | 18.33% | 20.34% | 19.57% | 23.90% | -10.74% | 35.71% | 11.51% | 18.50% |
| Other Income | 0.13 | 0.19 | 0.10 | 0.79 | 0.26 | 0.14 | 0.23 | 0.03 | 0.20 | 0.52 | 6.06 | 2.74 |
| Interest | 0.20 | 0.35 | 0.37 | 0.80 | 1.22 | 2.76 | 2.06 | 3.41 | 1.24 | 1.89 | 3.09 | 2.72 |
| Depreciation | 1.11 | 0.75 | 0.66 | 1.55 | 1.57 | 2.07 | 0.24 | 2.30 | 2.79 | 2.10 | 3.52 | 3.58 |
| Profit before tax | 0.25 | 1.19 | 0.24 | 0.04 | 1.19 | 3.69 | 5.88 | 1.90 | -5.86 | 11.16 | 4.36 | 3.35 |
| Tax % | 24.00% | 25.21% | -220.83% | 25.00% | 20.17% | 24.39% | 23.64% | 25.26% | -2.39% | 26.70% | 2.98% | 21.79% |
| Net Profit | 0.20 | 0.89 | 0.77 | 0.03 | 0.96 | 2.79 | 4.49 | 1.43 | -5.71 | 8.19 | 4.22 | 2.62 |
| EPS in Rs | 0.15 | 0.66 | 0.57 | 0.02 | 0.71 | 2.07 | 3.01 | 0.96 | -3.83 | 5.49 | 2.83 | 1.76 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 19 | 36 | 120 | 134 | 140 |
| Expenses | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 15 | 29 | 97 | 109 | 115 |
| Operating Profit | -0 | -0 | 0 | -0 | -0 | -1 | -0 | 4 | 7 | 22 | 25 | 24 |
| OPM % | -32% | -120% | 4.3% | -30% | -144% | -582% | -10% | 19% | 19% | 19% | 19% | 17% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 7 | 10 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 7 | 10 | 9 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 | 5 | 11 | 12 |
| Profit before tax | -0 | -0 | 0 | -0 | -0 | -1 | 0 | 0 | 3 | 11 | 12 | 13 |
| Tax % | -30% | -30% | 0% | -12% | -23% | 2% | 275% | 40% | 3% | 23% | 30% | |
| Net Profit | -0 | -0 | 0 | -0 | -0 | -1 | -0 | 0 | 3 | 8 | 8 | 9 |
| EPS in Rs | -0.05 | -0.05 | 0.00 | -0.05 | -0.07 | -0.48 | -0.06 | 0.21 | 1.90 | 5.54 | 5.44 | 6.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 82% | 314% | 93% | 5% | ||
| Compounded Profit Growth | 61% | 71% | 207% | -4% | ||
| Stock Price CAGR | % | 86% | 66% | -70% | ||
| Return on Equity | 23% | 26% | 26% | 17% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 15 | 15 |
| Reserves | -12 | -12 | -12 | -12 | -12 | -12 | -13 | -13 | -13 | -10 | 29 | 36 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 18 | 54 | 106 | 141 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 8 | 13 | 31 | 44 |
| Total Liabilities | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 7 | 26 | 70 | 181 | 236 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 13 | 53 | 89 | 84 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 6 | 1 | 17 | 44 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 4 | 8 | 16 | 75 | 107 |
| Total Assets | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 7 | 26 | 70 | 181 | 236 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -0 | 0 | -0 | -0 | 0 | -0 | 0 | 1 | 6 | 3 | -19 | 3 |
| Cash from Investing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4 | -10 | -36 | -26 | -24 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 | 33 | 45 | 22 |
| Net Cash Flow | -0 | 0 | -0 | -0 | 0 | -0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Free Cash Flow | -0 | 0 | -0 | -0 | 0 | -0 | 0 | -3 | -4 | -32 | -43 | -24 |
| CFO/OP | 13% | -173% | 92% | -1,000% | -133% | 108% | -2% | -559% | 163% | 51% | -83% | 12% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 223 | 258 | 912 | 524 | 0 | 203 | 664 | 54 | 13 | 8 | 4 | 7 |
| Inventory Days | 0 | 0 | 313 | 12 | 4 | 12 | 11 | |||||
| Days Payable | 626 | 351 | 400 | 346 | 245 | |||||||
| Cash Conversion Cycle | 223 | 258 | 912 | 524 | 0 | 203 | 664 | -259 | -326 | -389 | -330 | -227 |
| Working Capital Days | 490 | 258 | 803 | 476 | 0 | 81 | 1,526 | -158 | -91 | -8 | 113 | 120 |
| ROCE % | 0% | -6% | -7% | 1% | -6% | -10% | -68% | 7% | 10% | 10% | 17% | 12% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.07% | 74.07% | 74.07% | 74.07% | 74.07% | 74.07% | 69.25% | 69.25% | 69.25% | 69.25% | 69.25% | 69.25% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
| Public | 25.93% | 25.93% | 25.93% | 25.94% | 25.94% | 25.92% | 28.67% | 28.67% | 28.68% | 28.67% | 28.66% | 28.67% |
| No. of Shareholders | 1,991 | 1,981 | 2,118 | 2,160 | 2,115 | 2,127 | 2,252 | 2,540 | 2,681 | 2,705 | 2,697 | 2,838 |
Fundamentals
Market Cap₹ 222 Cr.
Current Price₹ 149
Stock P/E23.9
Book Value₹ 34.2
ROCE12.4 %
ROE17.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)-4%
Standalone figures.
Valuation
Market capRs 221 Cr
Enterprise valueRs 358 Cr
P/E (TTM)23.70x
Price to book4.32x
Price to sales1.58x
EV / EBITDA10.56x
EV / EBIT16.32x
EV / sales2.56x
Price to cash flow80.90x
Earnings yield4.22%
P/E, 3-year average72.98x
P/B, 3-year average30.80x
P/E, 5-year average73.74x
P/B, 5-year average28.08x
Profitability
Operating margin (excl. other income)18.68%
Operating margin (incl. other income)23.75%
EBITDA margin24.26%
Pre-tax margin9.30%
Net profit margin6.66%
Net margin, latest quarter7.01%
ROE17.17%
ROCE12.40%
ROA3.90%
ROE, 3-year average59.54%
ROCE, 3-year average13.31%
ROA, 3-year average5.27%
ROE, 5-year average41.66%
ROCE, 5-year average11.32%
ROA, 5-year average3.09%
ROIC (approx.)8.18%
Tax rate29.73%
Other income / net worth13.32%
Growth
Sales growth (latest year)12.30%
Profit growth (latest year)-1.81%
Sales CAGR, 3 years93.08%
Sales CAGR, 5 years314.29%
Profit CAGR, 3 years207.23%
Sales growth QoQ-12.44%
Profit growth QoQ-37.91%
Sales growth YoY (latest quarter)17.82%
Profit growth YoY (latest quarter)83.22%
Per share
EPS (TTM)Rs 6.25
EPS (latest year)Rs 5.44
EPS (latest quarter)Rs 1.76
EPS, 3-year averageRs 4.29
EPS, 5-year averageRs 2.61
Book value per shareRs 34.25
Sales per shareRs 93.75
Cash flow per shareRs 1.83
Free cash flow per shareRs -16.08
Efficiency
Asset turnover0.57x
Fixed asset turnover1.59x
Inventory turnover78.57x
Inventory days5 days
Debtor days7 days
Debtors turnover53.92x
Creditor days245 days
Cash conversion cycle-227 days
Working capital days120 days
Leverage
Total debtRs 141 Cr
Cash and bankRs 3 Cr
Net debtRs 137 Cr
Debt to equity2.76x
Net debt / EBITDA4.05x
Interest coverage2.46x
Owners' fund to total sources21.70%
Debt to assets59.82%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -24 Cr
Cash from Financing Activity (latest year)Rs 22 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -24 Cr
FCFE (approx.: FCF + change in debt)Rs 11 Cr
Cash from ops / profit, 5 years-0.32x
Sales to cash flow49.18x
Statement figures
Net sales (TTM)Rs 140 Cr
Net sales (latest year)Rs 134 Cr
Sales (latest quarter)Rs 37 Cr
Operating profit excl. other income (latest year)Rs 25 Cr
Operating profit (latest quarter)Rs 7 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 34 Cr
PBDT (TTM)Rs 25 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 9 Cr
Net profit (latest year)Rs 8 Cr
Net profit (latest quarter)Rs 3 Cr
Depreciation (TTM)Rs 12 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 9 Cr
Cost of goods sold (latest year)Rs 24 Cr
Total expenditure (latest year)Rs 109 Cr
Total income (latest year)Rs 141 Cr
Share capitalRs 15 Cr
ReservesRs 36 Cr
Shareholders' fundsRs 51 Cr
Total assetsRs 236 Cr
Net blockRs 84 Cr
Capital work in progressRs 44 Cr
ReceivablesRs 2 Cr
InventoryRs 0 Cr
Other liabilitiesRs 44 Cr
Shares outstanding (crore)1.49
Ownership
Promoter holding69.25% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 23.7 is the lowest in its own 2.8-year history
(median 88.0, low 23.7, high 286.1).
P/B 4.32 is the lowest in 4.9 years (median 16.86).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 532016 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.7% | -2.8% | +3.5 pts |
| 1 month | -3.6% | -6.8% | +3.2 pts |
| 3 months | -16.5% | -7.6% | -8.9 pts |
| 3 years | +354.3% | +14.2% | +340.1 pts |
| 5 years | +2109.0% | +27.9% | +2081.1 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -67% of net profit over the last 3 years |
| explain | Debt up, profit down Borrowings up 33% while net profit fell in 2026 |
| look | Profit leans on other income Other income was 59% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹37 Cr +17.8% vs Jun 2025.
Net profit ₹3 Cr +83.2%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Indian Hotels Co Ltd | 101,683 | 52.3 | 17.1 % |
| ITC Hotels Ltd | 33,439 | 36.3 | 11.2 % |
| EIH Ltd | 18,877 | 26.0 | 20.7 % |
| Chalet Hotels Ltd | 18,412 | 34.4 | 17.0 % |
| Leela Palaces Hotels & Resorts Ltd | 17,820 | 39.7 | 8.73 % |
| Ventive Hospitality Ltd | 13,075 | 27.0 | 10.8 % |
| Lemon Tree Hotels Ltd | 8,253 | 32.2 | 14.1 % |
| India Tourism Development Corporation Ltd | 5,636 | 68.1 | 29.9 % |
| Juniper Hotels Ltd | 4,760 | 25.7 | 8.04 % |
| Mahindra Holidays & Resorts India Ltd | 3,933 | 84.1 | 8.12 % |
| Samhi Hotels Ltd | 3,321 | 7.90 | 8.90 % |
| Oriental Hotels Ltd | 2,489 | 37.1 | 12.1 % |
| Apeejay Surrendra Park Hotels Ltd | 2,184 | 33.9 | 9.43 % |
| Brigade Hotel Ventures Ltd | 2,129 | 31.2 | 12.8 % |
| TajGVK Hotels & Resorts Ltd | 1,989 | 13.8 | 13.3 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.