Saj Hotels Ltd.

•

sajresort.comBSE: -NSE: SAJHOTELS

Market Cap₹ 60 Cr.

Current Price

High / Low₹ 80 / 25

Stock P/E21.5

Book Value₹ 74

Price to Book2.61

Dividend Yield0.00 %

ROCE17.2 %

ROE12.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

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.

Confidence

73%

View full sector analysis →

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

Consumer ServicesHospitalityHotel, Resort & Restaurants

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	INDHOTEL	717.75	47.61	102166.85	0.45	390.81	18.67	2339.19	14.61	25.70	28.75
2.	ITCHOTELS	153.75	37.07	32026.21	0.65	1819.10	1260.48	9360.20	1047.73	10.54	31.62
3.	CHALET	876.35	36.34	19191.55	0.23	86.12	-57.60	512.27	-42.73	17.19	45.68
4.	THELEELA	541.05	40.77	18068.79	0.00	48.76	460.27	351.96	28.08	8.97	36.30
5.	EIHOTEL	286.55	25.18	17919.81	0.52	120.31	226.22	656.96	14.54	19.68	26.02
6.	VENTIVE	574.00	27.96	13405.29	0.00	124.18	227.44	542.80	6.97	13.15	35.30
7.	LEMONTREE	104.80	35.36	8302.74	0.00	57.34	19.21	344.61	9.13	18.72	43.36
8.	ITDC	690.40	71.91	5921.52	0.43	9.39	-3.63	90.10	2.68	29.05	9.25
9.	JUNIPER	221.10	29.66	4919.53	0.00	33.26	269.47	249.53	13.04	7.85	34.56
10.	MHRIL	196.75	75.05	3975.70	0.00	-8.56	-219.39	732.81	4.48	42.30	15.36
11.	SAMHI	157.30	6.94	3497.72	0.00	24.93	29.72	305.21	12.12	12.38	32.18
12.	SAJHOTELS	37.00	21.54	59.66	0.00	0.85	-6.19	4.65	-1.48	17.17	33.98

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Sep 2014	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	5.27	62.08	62.09	62.52	63.31	63.93	64.27
	0.00	0.00	0.00	0.00	0.02	0.04	0.04
	0.00	0.00	0.00	0.00	0.12	0.21	0.29
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	94.73	37.92	37.91	37.48	36.55	35.83	35.40

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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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

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Operating Profit

-1

OPM %

-16.15%

40.79%

32.15%

54.09%

33.95%

31.36%

9.24%

35.19%

37.83%

41.72%

Interest

Depreciation

Profit before Tax

-1

Tax %

8.60%

6.31%

50.00%

18.03%

38.50%

36.23%

38.89%

25.21%

32.47%

33.07%

Net Profit

-0.72

3.38

0.23

1.26

0.74

0.55

0.07

0.52

0.63

0.53

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

Operating Profit

OPM %

22.22%

32.13%

25.36%

30.14%

37.83%

32.05%

Interest

Depreciation

Profit before Tax

-1

Tax %

-5.82%

31.58%

20.77%

18.51%

32.26%

30.86%

Net Profit

-1

EPS

-1.01

1.21

3.00

4.15

2.43

—

Dividend Payout %

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

101

Trade Payables

Total Liabilities

124

Capital Work in Progress

Cash & Bank

Total Assets

124

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cash from Investing

-1

-4

-6

-2

-9

Cash from Financing

-3

-2

-3

-1

-0

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2014

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

5.27

62.08

62.09

62.52

63.31

63.93

64.27

0.00

0.02

0.04

0.00

0.12

0.21

0.29

Government

0.00

94.73

37.92

37.91

37.48

36.55

35.83

35.40

Saj Hotels Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Saj Hotels Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI