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Swing Capital

Viceroy Hotels Ltd

NSE: VHLTD BSE: 523796

Viceroy Hotels Ltd (VHLTD) is a Diversified company listed on NSE: VHLTD | BSE: 523796. With a market cap of ₹918 Cr and ROCE of 10.4%, ROE of 41.7%, it operates in the Indian Diversified sector.

₹136
52W: ₹93 — ₹157
PE 45.8 · Book ₹36.4 · +274% vs book
Market Cap₹918 Cr
Stock P/E45.8Price to Earnings
ROCE10.4%Return on Capital
ROE41.7%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company has delivered good profit growth of 59.3% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 3.73 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low

Shareholding Pattern

Promoters84.11%
FIIs0%
DIIs0.04%
Public15.85%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters95%90%▼5.084.11%▼5.984.11%84.11%84.11%84.11%84.11%
FIIs0%0%0%0%0%0%0%0%
DIIs1.58%1.58%1.48%▼0.11.48%0.88%▼0.60.35%▼0.50.14%▼0.20.04%▼0.1
Public3.42%8.41%▲5.014.41%▲6.014.4%▼0.015.01%▲0.615.53%▲0.515.74%▲0.215.85%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales27333427323835253138
Expenses24232822242626222326
Operating Profit41065811104812
OPM %14%29%19%19%25%30%27%15%25%32%
Net Profit24026078-3411
EPS ₹0.220.390.010.165.551.081.15-0.450.651.62

AI Insights

Revenue Trend

TTM revenue at ₹130Cr, down 1.5% YoY. OPM at 26%.

Debt Position

Borrowings at ₹49Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹37Cr (22% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.04% (+0.02pp change). FIIs: 0% (+0.00pp change). Promoters hold 84.11%.

Margin & Efficiency

ROCE improving from 2% (Mar 2014) to 10% (Mar 2025). Working capital days: 59.

Valuation

PE 45.8x with 10.4% ROCE. Price is 274% above book value of ₹36.4. Dividend yield: 0%.

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