Price
Financials
Consolidated, 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 | 2 | 2 | 2 | 3 | 3 | 2 | 22 | 24 | 33 | 32 | 32 |
| Expenses | 4 | 9 | 8 | 8 | 9 | 10 | 11 | 9 | 6 | 8 | 8 | 7 |
| Operating Profit | 1 | -7 | -6 | -7 | -6 | -7 | -9 | 13 | 17 | 24 | 24 | 25 |
| OPM % | 16% | -288% | -244% | -359% | -167% | -264% | -471% | 61% | 73% | 74% | 76% | 78% |
| Other Income | 5 | 4 | 4 | 5 | 4 | 8 | 4 | 2 | 3 | -51 | 2 | 3 |
| Interest | 18 | 19 | 19 | 20 | 22 | 23 | 31 | 31 | 32 | 32 | 37 | 42 |
| Depreciation | 0 | 1 | 0 | 1 | 1 | 1 | 0 | 5 | 5 | 5 | 5 | 5 |
| Profit before tax | -12 | -22 | -21 | -23 | -24 | -23 | -37 | -21 | -17 | -63 | -15 | -19 |
| Tax % | 0% | 0% | -1% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -12 | -22 | -21 | -23 | -24 | -23 | -37 | -21 | -17 | -63 | -15 | -19 |
| EPS in Rs | -9.38 | -16.76 | -16.26 | -17.47 | -18.21 | -17.19 | -27.87 | -15.98 | -12.64 | -48.43 | -11.71 | -14.82 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 59 | 72 | 78 | 31 | 30 | 23 | 22 | 11 | 11 | 10 | 110 | 121 |
| Expenses | 38 | 38 | 47 | 26 | 32 | 12 | 14 | 13 | 24 | 38 | 31 | 30 |
| Operating Profit | 21 | 34 | 31 | 5 | -1 | 11 | 8 | -2 | -13 | -28 | 79 | 91 |
| OPM % | 36% | 47% | 40% | 15% | -4.6% | 47% | 38% | -20% | -111% | -290% | 72% | 75% |
| Other Income | 38 | 11 | 11 | 53 | 3 | 4 | 112 | 85 | 18 | 21 | -43 | -42 |
| Interest | 1 | 1 | 6 | 16 | 17 | 10 | 6 | 32 | 72 | 96 | 131 | 142 |
| Depreciation | 5 | 5 | 5 | 4 | 4 | 4 | 3 | 2 | 2 | 2 | 21 | 21 |
| Profit before tax | 53 | 39 | 30 | 38 | -19 | 1 | 112 | 49 | -69 | -106 | -116 | -115 |
| Tax % | 34% | 25% | 27% | 25% | -9% | 34% | 1% | 13% | -4% | 0% | 0% | |
| Net Profit | 35 | 29 | 22 | 28 | -17 | 1 | 111 | 43 | -66 | -106 | -116 | -115 |
| EPS in Rs | 26.48 | 22.39 | 16.64 | 21.46 | -13.14 | 0.40 | 84.81 | 32.49 | -50.51 | -80.74 | -88.76 | -87.60 |
| Dividend Payout % | 38% | 45% | 60% | 47% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 6% | 37% | 114% | 305% | ||
| Compounded Profit Growth | % | % | % | 44% | ||
| Stock Price CAGR | 6% | 3% | 12% | 2% | ||
| Return on Equity | -13% | -34% | -62% | -143% |
| 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 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 227 | 244 | 273 | 280 | 97 | 64 | 64 | 173 | 228 | 162 | 89 | -24 |
| Borrowings | 1 | 0 | 40 | 124 | 167 | 120 | 120 | 122 | 532 | 827 | 1,051 | 1,508 |
| Other Liabilities | 47 | 32 | 31 | 31 | 235 | 28 | 34 | 117 | 16 | 18 | 23 | 84 |
| Total Liabilities | 288 | 289 | 357 | 448 | 511 | 225 | 231 | 425 | 789 | 1,021 | 1,177 | 1,581 |
| Fixed Assets | 93 | 93 | 178 | 170 | 203 | 195 | 161 | 100 | 305 | 527 | 892 | 1,028 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 125 | 143 | 14 | 27 | 23 | 3 | 3 | 7 | 29 | 20 | 32 | 47 |
| Other Assets | 69 | 53 | 165 | 250 | 285 | 27 | 67 | 319 | 454 | 474 | 253 | 506 |
| Total Assets | 288 | 289 | 357 | 448 | 511 | 225 | 231 | 425 | 789 | 1,021 | 1,177 | 1,581 |
| 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 | 19 | -0 | 21 | 28 | 23 | 36 | 7 | -18 | -15 | -21 | -113 | -65 |
| Cash from Investing Activity | -7 | 28 | -61 | -87 | 2 | 43 | 3 | 76 | -386 | -162 | 40 | -213 |
| Cash from Financing Activity | -12 | -29 | 39 | 62 | -27 | -79 | -11 | 35 | 314 | 176 | 78 | 276 |
| Net Cash Flow | 1 | -1 | -1 | 3 | -2 | 0 | -0 | 93 | -87 | -7 | 5 | -2 |
| Free Cash Flow | -4 | 2 | -79 | -51 | 15 | 35 | 1 | 41 | -132 | -137 | -343 | -195 |
| CFO/OP | 212% | 64% | 99% | 124% | 900% | -2,869% | 60% | -142% | 456% | 148% | 400% | -84% |
| 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 | 23 | 24 | 23 | 24 | 34 | 13 | 12 | 22 | 53 | 53 | 75 | 7 |
| Inventory Days | 48 | 58 | 52 | 46 | 177 | 56 | ||||||
| Days Payable | 119 | 126 | 126 | 116 | 545 | 333 | ||||||
| Cash Conversion Cycle | -48 | -44 | -52 | -46 | -334 | -264 | 12 | 22 | 53 | 53 | 75 | 7 |
| Working Capital Days | 122 | 161 | 153 | 112 | -2,221 | -242 | 227 | 458 | -227 | -370 | 2,828 | 445 |
| ROCE % | 14% | 21% | 14% | 9% | 6% | -1% | 4% | 3% | 1% | 0% | -1% | 5% |
| 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 | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 73.78% | 73.78% | 73.78% | 73.78% | 73.78% | 73.78% | 73.78% |
| DIIs | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 24.97% | 24.97% | 24.98% | 24.96% | 24.99% | 26.20% | 26.19% | 26.20% | 26.20% | 26.19% | 26.19% | 26.19% |
| No. of Shareholders | 7,986 | 7,889 | 7,829 | 7,787 | 7,758 | 7,712 | 7,669 | 7,615 | 7,573 | 7,536 | 7,470 | 7,399 |
Fundamentals
Market Cap₹ 888 Cr.
Current Price₹ 695
Book Value₹ -8.01
ROCE4.96 %
ROE-143 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)305%
Compounded Profit Growth (TTM)44%
Consolidated figures.
Valuation
Market capRs 904 Cr
Enterprise valueRs 2,255 Cr
Price to book-86.09x
Price to sales7.49x
EV / EBITDA46.32x
EV / EBIT81.43x
EV / sales18.68x
Earnings yield-12.70%
P/B, 3-year average-21.40x
P/E, 5-year average10.21x
P/B, 5-year average-11.32x
Profitability
Operating margin (excl. other income)71.76%
Operating margin (incl. other income)32.46%
EBITDA margin40.32%
Pre-tax margin-95.04%
Net profit margin-95.06%
Net margin, latest quarter-60.22%
ROE-252.87%
ROCE1.15%
ROA-8.43%
ROE, 3-year average-120.27%
ROCE, 3-year average0.21%
ROA, 3-year average-8.46%
ROE, 5-year average-51.29%
ROCE, 5-year average12.48%
ROA, 5-year average3.10%
ROIC (approx.)2.07%
Tax rate-0.02%
Other income / net worth412.86%
Growth
Sales growth (latest year)1022.08%
Sales CAGR, 3 years114.41%
Sales CAGR, 5 years36.72%
Sales growth QoQ0.66%
Sales growth YoY (latest quarter)47.84%
Per share
EPS (TTM)Rs -87.60
EPS (latest year)Rs -88.76
EPS (latest quarter)Rs -14.82
EPS, 3-year averageRs -73.34
EPS, 5-year averageRs -20.54
Book value per shareRs -8.01
Sales per shareRs 92.15
Cash flow per shareRs -49.58
Free cash flow per shareRs -148.84
Efficiency
Asset turnover0.07x
Fixed asset turnover0.11x
Inventory turnover0.01x
Inventory days24962 days
Debtor days7 days
Debtors turnover54.60x
Creditor days333 days
Cash conversion cycle7 days
Working capital days445 days
Leverage
Total debtRs 1,508 Cr
Cash and bankRs 157 Cr
Net debtRs 1,351 Cr
Debt to equity-143.58x
Net debt / EBITDA27.75x
Interest coverage0.19x
Owners' fund to total sources-0.66%
Debt to assets95.34%
Cash flow
Cash from Operating Activity (latest year)Rs -65 Cr
Cash from Investing Activity (latest year)Rs -213 Cr
Cash from Financing Activity (latest year)Rs 276 Cr
Net Cash Flow (latest year)Rs -2 Cr
Free cash flow (latest year)Rs -195 Cr
FCFE (approx.: FCF + change in debt)Rs 261 Cr
Statement figures
Net sales (TTM)Rs 121 Cr
Net sales (latest year)Rs 110 Cr
Sales (latest quarter)Rs 32 Cr
Operating profit excl. other income (latest year)Rs 79 Cr
Operating profit (latest quarter)Rs 25 Cr
Other income (TTM)Rs -42 Cr
EBITDA (TTM)Rs 49 Cr
PBDT (TTM)Rs -94 Cr
Profit before tax (TTM)Rs -115 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs -115 Cr
Net profit (latest year)Rs -116 Cr
Net profit (latest quarter)Rs -19 Cr
Depreciation (TTM)Rs 21 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 142 Cr
Cost of goods sold (latest year)Rs 4 Cr
Total expenditure (latest year)Rs 31 Cr
Total income (latest year)Rs 67 Cr
Share capitalRs 13 Cr
ReservesRs -24 Cr
Shareholders' fundsRs -10 Cr
Total assetsRs 1,581 Cr
Net blockRs 1,028 Cr
InvestmentsRs 47 Cr
ReceivablesRs 2 Cr
InventoryRs 248 Cr
Other liabilitiesRs 84 Cr
Shares outstanding (crore)1.31
Ownership
Promoter holding73.78% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MCCHRLS-B | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.8% | -2.8% | +4.6 pts |
| 1 month | -0.7% | -6.8% | +6.1 pts |
| 3 months | -3.6% | -7.6% | +4.0 pts |
| 3 years | +38.0% | +14.2% | +23.8 pts |
| 5 years | +20.0% | +27.9% | -7.9 pts |
Red flags
F-score 5 of 8| serious | Negative equity Shareholders' equity is negative |
| explain | Debt up, profit down Borrowings up 43% while net profit fell in 2026 |
| look | Repeated losses Net loss in each of the last two years |
| look | On NSE surveillance On NSE surveillance: GSM |
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 ₹32 Cr +45.5% vs Jun 2025.
Net loss ₹19 Cr.
Activity
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| India Tourism Development Corporation Ltd | 5,636 | 68.1 | 29.9 % |
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| 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.
GSMLess than 100 unique PAN traded in previous 30 days