Viceroy 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
- Latest quarter profit grew 45.4% YoY, showing strong momentum
- Company has delivered good sales growth of 32.7% CAGR over last 5 years
- Operating margins have improved to 26.6% from 7.6%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.02x)
- Working capital cycle has improved - days down from 98 to 24
CONS
- Promoter holding has decreased over last 2 years: -10.9pp
- Recent results are weak - TTM profit is down 17.6% versus prior year
- A large part of profit comes from other income (31.2% of PBT)
- Company has a low return on capital employed of 5.8%
- Total debt has risen sharply - up 405.1% year on year
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| INDHOTEL | 720.50 | 47.79 | 102558.29 | 0.45 | 390.81 | 18.67 | 2339.19 | 14.61 | 25.70 | 28.75 |
| ITCHOTELS | 154.10 | 37.15 | 32099.12 | 0.65 | 181.91 | 36.05 | 936.02 | 15.71 | 10.54 | 31.62 |
| CHALET | 877.50 | 36.39 | 19216.73 | 0.23 | 86.12 | -57.60 | 512.27 | -42.73 | 17.19 | 45.68 |
| THELEELA | 553.65 | 41.72 | 18489.58 | 0.00 | 48.76 | 460.27 | 351.96 | 28.08 | 8.97 | 36.30 |
| EIHOTEL | 285.90 | 25.13 | 17879.16 | 0.52 | 120.31 | 226.22 | 656.96 | 14.54 | 19.68 | 26.02 |
| VENTIVE | 569.70 | 27.75 | 13304.87 | 0.00 | 124.18 | 227.44 | 542.80 | 6.97 | 13.15 | 35.30 |
| LEMONTREE | 105.65 | 35.65 | 8370.08 | 0.00 | 573.42 | 1092.14 | 3446.06 | 991.32 | 18.72 | 43.36 |
| ITDC | 669.05 | 69.69 | 5738.40 | 0.44 | 9.39 | -3.63 | 90.10 | 2.68 | 29.05 | 9.25 |
| JUNIPER | 227.55 | 30.52 | 5063.04 | 0.00 | 33.26 | 269.47 | 249.53 | 13.04 | 7.85 | 34.56 |
| MHRIL | 196.95 | 75.12 | 3979.74 | 0.00 | -8.56 | -219.39 | 732.81 | 4.48 | 42.30 | 15.36 |
| SAMHI | 160.20 | 7.07 | 3562.20 | 0.00 | 24.93 | 29.72 | 305.21 | 12.12 | 12.38 | 32.18 |
| VHLTD | 119.60 | 50.14 | 918.31 | 0.00 | 14.49 | 45.42 | 449.02 | 1170.82 | 7.14 | 25.60 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 32 | 25 | 27 | 40 | 41 | 32 | 32 | 38 | 35 | 25 | 39 | 48 | 45 | |
| 30 | 24 | 24 | 45 | 29 | 27 | 24 | 26 | 26 | 26 | 27 | 34 | 44 | |
| Operating Profit | 2 | 1 | 4 | -5 | 12 | 5 | 8 | 11 | 10 | -1 | 12 | 14 | 1 |
| OPM % | 5.50% | 2.22% | 13.73% | -12.46% | 29.23% | 14.33% | 24.57% | 30.07% | 27.03% | -2.77% | 31.43% | 29.75% | 2.41% |
| 1 | 3 | 0 | 1 | -3 | 1 | 1 | 0 | 1 | 1 | 3 | 1 | 0 | |
| Interest | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 5 | 5 |
| Depreciation | 2 | 2 | 2 | 2 | 8 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 |
| Profit before Tax | 0 | 1 | 1 | -7 | 0 | 1 | 5 | 7 | 7 | 0 | 11 | 6 | 1 |
| Tax % | 100.00% | 51.92% | -37.39% | -0.46% | -1000.00% | 17.56% | -1058.25% | -4.29% | -40.88% | 895.53% | -2.05% | -9.09% | -5.23% |
| Net Profit | 0 | 0 | 0 | -7 | 2 | 1 | 60 | 7 | 10 | -3 | 11 | 6 | 1 |
| 0.00 | 0.12 | 0.38 | -1.05 | 0.38 | 0.17 | 9.45 | 1.15 | 1.62 | -0.45 | 1.63 | 0.89 | 0.21 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 124 | 118 | 122 | 122 | 35 | 52 | 120 | 138 | 137 | 143 | 157 | |
| 100 | 111 | 126 | 131 | 55 | 87 | 111 | 120 | 104 | 105 | 130 | |
| Operating Profit | 25 | 7 | -4 | -8 | -20 | -34 | 9 | 18 | 33 | 38 | 27 |
| OPM % | 20.01% | 6.18% | -2.95% | -6.93% | -56.95% | -65.48% | 7.21% | 12.89% | 24.34% | 26.56% | 17.11% |
| -4 | -408 | 3 | 5 | 6 | 18 | 0 | -2 | 4 | 7 | 6 | |
| Interest | 28 | 23 | 2 | 1 | 1 | 1 | 0 | 1 | 5 | 9 | 13 |
| Depreciation | 9 | 10 | 11 | 10 | 10 | 9 | 9 | 14 | 12 | 15 | 17 |
| Profit before Tax | -16 | -433 | -14 | -15 | -24 | -26 | 0 | 0 | 21 | 21 | 18 |
| Tax % | -6.23% | -2.30% | -14.33% | -11.31% | 15.81% | -1.56% | 112.20% | -731.95% | -279.95% | 12.43% | 14.51% |
| Net Profit | -17 | -443 | -16 | -17 | -21 | -26 | -0 | 2 | 78 | 18 | 15 |
| EPS | 0.00 | 0.00 | 0.00 | -3.98 | -4.85 | -6.20 | -0.01 | 0.38 | 11.54 | 2.71 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 1%
- 5 Years:
- 33%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 6%
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 12%
- 3 Years:
- 19%
- Last Year:
- 7%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 63 | 68 | 68 |
| 120 | -408 | -423 | -440 | -461 | -487 | -487 | 4 | 177 | 199 | |
| 465 | 534 | 542 | 548 | 544 | 550 | 512 | 167 | 47 | 248 | |
| Trade Payables | 23 | 30 | 31 | 30 | 30 | 20 | 21 | 8 | 5 | 8 |
| 276 | 243 | 249 | 249 | 250 | 256 | 264 | 86 | -13 | 14 | |
| Total Liabilities | 927 | 442 | 441 | 429 | 405 | 381 | 352 | 328 | 284 | 536 |
| 187 | 282 | 273 | 263 | 249 | 230 | 222 | 214 | 178 | 405 | |
| Capital Work in Progress | 437 | 92 | 92 | 92 | 100 | 100 | 57 | 37 | 15 | 57 |
| 130 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 1 | |
| 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 7 | 6 | |
| Cash & Bank | 4 | -1 | 6 | 0 | 1 | 3 | 13 | 30 | 7 | 19 |
| 168 | 67 | 68 | 72 | 54 | 47 | 60 | 38 | 46 | 47 | |
| Total Assets | 927 | 442 | 441 | 429 | 405 | 381 | 352 | 328 | 284 | 536 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 58 | -6 | 1 | -17 | 13 | -7 | -23 | 10 | 32 | 58 | |
| Cash from Investing | -15 | -44 | -2 | 5 | -8 | 5 | 44 | -11 | -74 | -210 |
| Cash from Financing | -40 | 46 | 7 | 6 | -4 | 4 | -11 | 14 | -83 | 204 |
| 3 | -5 | 7 | -5 | 1 | 2 | 10 | 14 | -124 | 53 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Viceroy Hotels Limited has informed the Exchange about Action(s) taken or orders passed
2026-09-10 - Viceroy Hotels Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 10, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-31 - Viceroy Hotels Limited has informed the Exchange about Copy of Newspaper Publication for Rights - Pre Issue
2026-08-21 - Viceroy Hotels Limited has informed the Exchange about revised letter of offer for Rights Issue
2026-08-20 - Viceroy Hotels Limited has informed the Exchange regarding 'Book Closure for 61st Annual General Meeting Scheduled on 10.09.2026'.
2026-08-20 - Viceroy Hotels Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 61st Annual General Meeting
2026-08-19 - Viceroy Hotels Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 10, 2026
2026-08-19 - Viceroy Hotels Limited has informed the Exchange about Letter of Offer for Rights Issue
2026-08-14 - Viceroy Hotels Limited has informed the Exchange that Record date for the purpose of Rights is 20-Aug-2026.
News
Recent coverage and analyst commentary for VHLTD
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