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Swing Capital

HLV Ltd

NSE: HLVLTD BSE: 500193

Incorporated in 1981, HLV Ltd is in the business of owning, operating & managing hotels, palaces, and resorts[1]

₹7.46
52W: ₹5.52 — ₹15.8
PE 96.2 · Book ₹7.14 · +4% vs book
Market Cap₹492 Cr
Stock P/E96.2Price to Earnings
ROCE1.62%Return on Capital
ROE1.09%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Stock is trading at 1.06 times its book value
  • +Debtor days have improved from 21.9 to 16.1 days.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding is low: 39.1%
  • −Tax rate seems low
  • −Company has a low return on equity of 4.01% over last 3 years.
  • −Contingent liabilities of Rs.1,007 Cr.
  • −Promoters have pledged 36.5% of their holding.
  • −Earnings include an other income of Rs.10.3 Cr.
  • −Promoter holding has decreased over last 3 years: -10.5%

Shareholding Pattern

Promoters39.07%
FIIs0.16%
DIIs1.55%
Public59.22%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters45.36%41.99%▼3.439.86%▼2.139.07%▼0.839.07%39.07%39.07%39.07%
FIIs0.09%0.16%▲0.10.14%▼0.00.13%▼0.00.08%▼0.10.09%▲0.00.11%▲0.00.16%▲0.1
DIIs1.55%1.55%1.56%▲0.01.56%1.56%1.56%1.56%1.55%▼0.0
Public53%56.32%▲3.358.44%▲2.159.22%▲0.859.28%▲0.159.27%▼0.059.25%▼0.059.22%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales55.3759.7442.9543.3757.7359.2640.7435.8360.963.45
Expenses44.4748.742.4740.4745.946.3842.4542.0449.3452.8
Operating Profit10.911.040.482.911.8312.88-1.71-6.2111.5610.65
OPM %19.69%18.48%1.12%6.69%20.49%21.73%-4.2%-17.33%18.98%16.78%
Net Profit9.5310.351.623.4910.2710.74-3.47-9.926.878.6
EPS ₹0.140.160.020.050.160.16-0.05-0.150.10.13

AI Insights

Revenue Trend

Mar 2026 revenue at ₹201Cr, down 1% YoY. OPM at 7%.

Debt Position

Borrowings at ₹35Cr. Debt-to-equity ratio: 0.10x. Healthy balance sheet.

Capex Cycle

CWIP at ₹6Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.55% (+0.00pp change). FIIs: 0.16% (+0.13pp change). Promoters hold 39.07%.

Margin & Efficiency

ROCE improving from -2% (Mar 2015) to 2% (Mar 2026). Working capital days: -56.

Valuation

PE 96.2x with 1.62% ROCE. Price is 4% above book value of ₹7.14. Dividend yield: 0%.

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