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 138.2% YoY, showing strong momentum
- Company has delivered good sales growth of 39.4% CAGR over last 5 years
- Operating margins have improved to 25.7% from 13.9%
- Working capital cycle has improved - days down from 101 to 19
- Attractively priced for its growth - PEG of 0.7
CONS
- A large part of profit comes from other income (45.4% of PBT)
- Promoter holding has decreased over last 2 years: -10.9pp
- Company has a low return on capital employed of 7.6%
- Total debt has risen sharply - up 326.4% year on year
- Equity base is being diluted - shares outstanding up 59.4%
- Effective tax rate is unusually low at 11.7% - earnings may be flattered
* 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
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | 27 | 33 | 34 | 27 | 32 | 38 | 35 | 25 | 31 | 38 | 35 | 33 | |
| 21 | 24 | 23 | 28 | 22 | 24 | 26 | 26 | 22 | 23 | 26 | 26 | 35 | |
| Operating Profit | 4 | 4 | 10 | 6 | 5 | 8 | 11 | 10 | 4 | 8 | 12 | 10 | -2 |
| OPM % | 14.89% | 13.73% | 29.38% | 18.71% | 19.11% | 24.54% | 30.07% | 27.06% | 14.74% | 25.19% | 31.54% | 27.55% | -6.40% |
| 0 | 0 | -3 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 3 | 4 | 3 | |
| Interest | 0 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 5 | 4 |
| Depreciation | 2 | 2 | 2 | 7 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 |
| Profit before Tax | 2 | 1 | 4 | -2 | 2 | 5 | 7 | 7 | 0 | 4 | 11 | 5 | 1 |
| Tax % | 30.12% | -37.39% | 0.70% | 106.67% | 11.79% | -1058.25% | -4.29% | -9.48% | 894.74% | -2.09% | -2.15% | -13.56% | -5.29% |
| Net Profit | 1 | 2 | 4 | 0 | 2 | 60 | 7 | 8 | -3 | 4 | 11 | 6 | 1 |
| 0.27 | 0.37 | 0.67 | 0.02 | 0.27 | 9.45 | 1.15 | 1.28 | -0.04 | 0.65 | 1.63 | 0.85 | 0.17 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 83 | 84 | 88 | 88 | 25 | 47 | 99 | 118 | 132 | 130 | 137 | |
| 58 | 74 | 82 | 86 | 36 | 47 | 85 | 96 | 98 | 97 | 110 | |
| Operating Profit | 25 | 10 | 7 | 2 | -11 | -0 | 14 | 22 | 34 | 33 | 27 |
| OPM % | 30.26% | 11.73% | 7.45% | 2.17% | -46.55% | -0.39% | 13.79% | 18.84% | 25.68% | 25.66% | 20.03% |
| -4 | -410 | -7 | 0 | 0 | 0 | 0 | -2 | 4 | 9 | 11 | |
| Interest | 26 | 21 | 1 | 1 | 0 | 0 | 0 | 1 | 5 | 8 | 11 |
| Depreciation | 6 | 8 | 9 | 9 | 8 | 8 | 8 | 14 | 12 | 14 | 15 |
| Profit before Tax | -11 | -429 | -10 | -7 | -20 | -9 | 5 | 5 | 21 | 20 | 21 |
| Tax % | -8.55% | -2.31% | -25.77% | -27.04% | 19.17% | -9.12% | 8.88% | -43.68% | -261.10% | 11.71% | -5.04% |
| Net Profit | -12 | -439 | -12 | -9 | -16 | -10 | 5 | 7 | 76 | 18 | 22 |
| EPS | 0.00 | 0.00 | 0.00 | -2.17 | -2.17 | -0.00 | 1.12 | 1.11 | 11.31 | 2.67 | — |
| 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:
- 4%
- 5 Years:
- 39%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 2%
- 5 Years:
- —
- 3 Years:
- 56%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 10%
- 3 Years:
- 16%
- Last Year:
- 7%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 38 | -401 | -413 | -422 | -438 | -448 | -444 | 56 | 177 | 195 | |
| 347 | 388 | 385 | 384 | 383 | 384 | 385 | 64 | 47 | 209 | |
| Trade Payables | 17 | 19 | 25 | 22 | 26 | 18 | 18 | 5 | 5 | 5 |
| 259 | 225 | 237 | 236 | 235 | 243 | 234 | 51 | -13 | 2 | |
| Total Liabilities | 705 | 273 | 277 | 261 | 248 | 239 | 236 | 239 | 284 | 478 |
| 134 | 234 | 224 | 216 | 207 | 199 | 190 | 183 | 178 | 182 | |
| Capital Work in Progress | 345 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 15 | 57 |
| 84 | 19 | 19 | 19 | 19 | 19 | 3 | 0 | 30 | 69 | |
| 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 7 | 3 | |
| Cash & Bank | 1 | -1 | 5 | 1 | 0 | 2 | 12 | 30 | 7 | 10 |
| 139 | 21 | 27 | 24 | 21 | 18 | 30 | 18 | 46 | 157 | |
| Total Assets | 705 | 273 | 277 | 261 | 248 | 239 | 236 | 239 | 284 | 478 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 84 | -10 | 7 | -2 | 0 | 0 | 9 | 11 | 15 | 47 | |
| Cash from Investing | -59 | -11 | 1 | 0 | -0 | 2 | 1 | -11 | -57 | -207 |
| Cash from Financing | -24 | 19 | -2 | -2 | -1 | -0 | -1 | 14 | 21 | 164 |
| 2 | -2 | 6 | -4 | -1 | 2 | 9 | 15 | -21 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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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