Saj Hotels Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company is almost debt free
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.5%
- Company has a healthy return on capital (ROCE) of 24.2%
- Operating margins have improved to 37.8% from 32.5%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.48x)
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 21.6% versus prior year
- Equity base is being diluted - shares outstanding up 578.5%
- Working capital days have increased from -98 to 399 days
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| INDHOTEL | 717.75 | 47.61 | 102166.85 | 0.45 | 390.81 | 18.67 | 2339.19 | 14.61 | 25.70 | 28.75 |
| ITCHOTELS | 153.75 | 37.07 | 32026.21 | 0.65 | 1819.10 | 1260.48 | 9360.20 | 1047.73 | 10.54 | 31.62 |
| CHALET | 876.35 | 36.34 | 19191.55 | 0.23 | 86.12 | -57.60 | 512.27 | -42.73 | 17.19 | 45.68 |
| THELEELA | 541.05 | 40.77 | 18068.79 | 0.00 | 48.76 | 460.27 | 351.96 | 28.08 | 8.97 | 36.30 |
| EIHOTEL | 286.55 | 25.18 | 17919.81 | 0.52 | 120.31 | 226.22 | 656.96 | 14.54 | 19.68 | 26.02 |
| VENTIVE | 574.00 | 27.96 | 13405.29 | 0.00 | 124.18 | 227.44 | 542.80 | 6.97 | 13.15 | 35.30 |
| LEMONTREE | 104.80 | 35.36 | 8302.74 | 0.00 | 57.34 | 19.21 | 344.61 | 9.13 | 18.72 | 43.36 |
| ITDC | 690.40 | 71.91 | 5921.52 | 0.43 | 9.39 | -3.63 | 90.10 | 2.68 | 29.05 | 9.25 |
| JUNIPER | 221.10 | 29.66 | 4919.53 | 0.00 | 33.26 | 269.47 | 249.53 | 13.04 | 7.85 | 34.56 |
| MHRIL | 196.75 | 75.05 | 3975.70 | 0.00 | -8.56 | -219.39 | 732.81 | 4.48 | 42.30 | 15.36 |
| SAMHI | 157.30 | 6.94 | 3497.72 | 0.00 | 24.93 | 29.72 | 305.21 | 12.12 | 12.38 | 32.18 |
| SAJHOTELS | 37.00 | 21.54 | 59.66 | 0.00 | 0.85 | -6.19 | 4.65 | -1.48 | 17.17 | 33.98 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 4 | 3 | 4 | 5 | 5 | 4 | 4 | 5 | 5 | |
| 4 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | |
| Operating Profit | -1 | 1 | 1 | 2 | 2 | 1 | 0 | 1 | 2 | 2 |
| OPM % | -16.15% | 40.79% | 32.15% | 54.09% | 33.95% | 31.36% | 9.24% | 35.19% | 37.83% | 41.72% |
| 0 | 4 | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before Tax | -1 | 4 | 1 | 2 | 2 | 1 | 0 | 1 | 2 | 1 |
| Tax % | 8.60% | 6.31% | 50.00% | 18.03% | 38.50% | 36.23% | 38.89% | 25.21% | 32.47% | 33.07% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| -0.72 | 3.38 | 0.23 | 1.26 | 0.74 | 0.55 | 0.07 | 0.52 | 0.63 | 0.53 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 8 | 13 | 13 | 14 | 17 | 17 | |
| 6 | 9 | 9 | 10 | 10 | 11 | |
| Operating Profit | 2 | 4 | 3 | 4 | 6 | 5 |
| OPM % | 22.22% | 32.13% | 25.36% | 30.14% | 37.83% | 32.05% |
| 0 | 0 | 4 | 4 | 1 | 3 | |
| Interest | 1 | 1 | 0 | 0 | 0 | 2 |
| Depreciation | 2 | 1 | 2 | 2 | 2 | 2 |
| Profit before Tax | -1 | 2 | 4 | 6 | 6 | 4 |
| Tax % | -5.82% | 31.58% | 20.77% | 18.51% | 32.26% | 30.86% |
| Net Profit | -1 | 1 | 4 | 5 | 4 | 3 |
| EPS | -1.01 | 1.21 | 3.00 | 4.15 | 2.43 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 44%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -38%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 26%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 12 | 16 |
| 17 | 80 | 83 | 77 | 101 | |
| 9 | 11 | 7 | 4 | 2 | |
| Trade Payables | 1 | 1 | 1 | 0 | 1 |
| 3 | 2 | 5 | 5 | 5 | |
| Total Liabilities | 33 | 96 | 99 | 98 | 124 |
| 28 | 89 | 93 | 92 | 97 | |
| Capital Work in Progress | 0 | 3 | 1 | 1 | 1 |
| Cash & Bank | 1 | 0 | 0 | 1 | 18 |
| 4 | 4 | 5 | 4 | 8 | |
| Total Assets | 33 | 96 | 99 | 98 | 124 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 5 | 4 | 8 | 6 | 5 | |
| Cash from Investing | -1 | -4 | -6 | -2 | -9 |
| Cash from Financing | -3 | 1 | -2 | -3 | 21 |
| 1 | -1 | -0 | 0 | 17 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for SAJHOTELS
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Saj Hotels Ltd.
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