Asian Hotels (West) Limited (AHLWEST)

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Asian Hotels (West) Limited (AHLWEST) · mywealthgrid

About

Asian Hotels (West) operates hotels and resorts in India's leisure services sector. With a ₹643.5 Cr market cap and 44.1% operating margin, it is a small-cap hospitality business. Stock has appreciated 143.36% over the past year but remains on a low 9.91 PE multiple.

Face value: ₹10

Market cap

₹626 Cr

P/E

8.8×

P/B

—

Dividend yield

ROE

—

ROCE

35.2%

Debt / equity

—

OPM

44.1%

EPS (TTM)

₹61.1

Book value

₹-11.5

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Recent quarter (Jun 2026) shows zero revenue and -₹0.19 Cr net loss; verify operational status and what caused disruption
Multiple quarters with zero revenue (Jun 2025, Sep 2025, Dec 2025, Mar 2026, Jun 2026); clarify if these represent partial results, data artifacts, or actual closures
No ROE disclosed; unclear capital efficiency on equity
Zero FII and 0.57% DII suggest institutional disengagement; verify sector-specific concerns or valuation skepticism

Generated analysis · source review pending

Growth drivers

Operating quarters in Sep–Dec 2025 showed ₹110–114 Cr revenue with 43.96–48.53% OPM; verify if cost structure supports growth from current base
Sep–Dec 2025 quarters generated ₹21–24 Cr net profit; verify if this performance is repeatable and what drives seasonality
No dividends since 2019 despite operating profits; verify if retained capital is being deployed for growth capex or constrained by obligations

Generated analysis · source review pending

1,484 historical price candles were omitted because the exchange source has not been verified.

₹535.1+1.1%1Y

Quick read

rule-based

Pros

+High return on capital employed of 30%
+Healthy operating margin of 44.1%
+Profit CAGR of 26% over the last 3 years
+Revenue CAGR of 27.1% over the last 5 years
+High promoter holding of 72.1% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

79/100

Business quality: 71
Growth: 67
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	431	131	159	347	400	411	435
COGS	45	14	20	39	38	40	37
Gross profit	386	117	139	309	362	371	398
	228	118	116	164	192	200	206
	158	-1	23	145	170	170	192
OPM %	36.7%	-0.5%	14.4%	41.8%	42.6%	41.5%	44.1%
Depreciation	52	52	61	38	38	41	43
Interest	107	108	93	89	153	68	54
	10	11	11	10	14	-17	-11
Profit before tax	9	-149	-120	28	-7	45	85
Tax	8	-1	-2	-5	-12	5	20
Tax %	89.3%	-0.4%	-1.7%	-17.1%	-183.2%	10.7%	23.2%
	1	-149	-118	32	6	40	65
PAT margin %	0.2%	-113.3%	-74%	9.3%	1.4%	9.7%	14.9%
EPS (₹)	0.9	-127.7	-100.9	27.8	4.7	34.2	55.8
EPS adjusted (₹)	—	-127.8	-100.9	27.9	4.7	34.2	55.8
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	12	12
Reserves	-49	-132	-135	-129	-90	-25
Minority interest	0	0	—	—	—	—
	796	795	745	778	687	604
	306	323	371	346	360	387
Total equity & liabilities	1,064	998	993	1,006	968	977
	748	703	661	631	614	620
CWIP	5	5	1	2	3	0
Investments	0	177	167	163	0	148
	312	112	163	210	351	209
Total assets	1,064	998	993	1,006	968	977

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	89.5%	89%	87.4%	88.9%	90.6%	90.3%	91.5%
EBITDA margin %	36.7%	-0.5%	14.4%	41.8%	42.6%	41.5%	44.1%
EBIT margin %	24.7%	-40.1%	-23.7%	30.8%	33.1%	31.5%	34.3%
PAT margin %	0.2%	-113.3%	-74%	9.3%	1.4%	9.7%	14.9%
Working capital
Receivable days	—	29	24	21	14	14	15
Inventory days	—	159	91	53	59	44	47
Payable days	—	737	1,293	480	185	240	284
NWC days	—	-549	-1,178	-406	-112	-183	-222
Leverage
Current ratio	—	0.19	0.13	0.23	0.25	0.18	0.27
Debt to EBITDA	—	—	34.76	5.13	4.57	4.03	3.14
Debt to equity	—	-21.07	-6.6	-6.05	-6.61	-8.8	-44.92
Interest coverage	1.1	-0.4	-0.3	1.3	1	2	3
Asset turnover	—	0.12	0.16	0.35	0.4	0.42	0.45
Return ratios
Return on assets %	—	-14%	-11.8%	3.3%	0.5%	4.1%	6.6%
Return on capital employed %	—	-5.9%	-4%	19%	26.3%	28.4%	35.2%
Return on equity %	—	394.1%	97.5%	-26.4%	-4.7%	-51%	-483.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.72%	70.72%	70.72%	70.72%	70.72%	71.39%	71.39%	71.39%	72.03%	72.07%	72.12%	72.12%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.58%	0.58%	0.57%	0.58%	0.57%	0.57%	0.57%	0.58%	0.57%	0.57%	0.57%	0.57%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.7%	28.7%	28.71%	28.7%	28.71%	28.04%	28.04%	28.03%	27.4%	27.36%	27.31%	27.31%
No. of shareholders	—	—	—	—	—	—	—	—	8,285	7,846	7,845	7,358

Promoter holding up 1.4 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Gunjan JainPromoter Group	BuyOff Market	73,608	₹1.62 cr	0.67% → 1.30%	4 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

3 deals · 4 Aug 2021 – 24 Jan 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jan 2022	MANDARIN TRUST	Bulk	NSE	Sell	74,730	₹180.37	₹1.35 Cr
4 Aug 2021	ASIAN HOTELS EAST LIMITED	Bulk	BSE	Buy	1,88,735	₹255.28	₹4.82 Cr
4 Aug 2021	PRAGATI STOCKCOM PRIVATE LIMITED	Bulk	BSE	Sell	99,007	₹255.00	₹2.52 Cr

1–3 of 3

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Sandeep GuptaNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Rakesh Kumar AggarwalExecutive Director
Mr. Amit SarafExecutive Director
Mr. Rohit RajpalNon-Executive - Independent Director
Mr. Saumen ChatterjeeNon-Executive - Independent Director
Ms. Mekhala SenguptaNon-Executive - Independent Director
Mr. Harish Kumar GautamChief Financial Officer
Mrs. Nidhi KhandelwalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Asian Hotels (West) Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

10

Dividend dividend8 Aug 2019 · ex-date₹1
Final dividend25 Jun 2018 · ex-date₹1
Final dividend3 Jul 2017 · ex-date₹1
Final dividend14 Jul 2016 · ex-date₹1
Dividend dividend2 Sept 2015 · ex-date₹1
Dividend dividend12 Sept 2014 · ex-date₹1.5
Dividend dividend21 Aug 2013 · ex-date₹2
Dividend dividend4 Sept 2012 · ex-date₹4
Dividend dividend25 Jul 2011 · ex-date₹4
Dividend dividend9 Sept 2010 · ex-date₹3

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

42 announcementsExport CSV

28 Sept 2026, 5:30 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 5:48 pmInsider Trading / SAST

Revised Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011 PDF

19 Sept 2026, 2:14 pmInsider Trading / SAST

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011 PDF

12 Sept 2026, 11:33 amInsider Trading / SAST

Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(6) of SEBI (SAST) Regulations, 2011 PDF

31 Aug 2026, 4:11 pmInsider Trading / SAST

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011 PDF

28 Aug 2026, 10:26 amInsider Trading / SAST

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011 PDF

18 Aug 2026, 4:56 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

14 Aug 2026, 3:26 pmBoard Meeting

Board Meeting Outcome for Board Consideration And Approval Of Quarterly Financial Results Ended 30062026

Outcome of Board Meeting PDF

Date	Category	Subject	Filing
28 Sept 2026, 5:30 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 5:48 pm	Insider Trading / SAST Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011	Revised Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	89.5%	89%	87.4%	88.9%	90.6%	90.3%	91.5%
EBITDA margin %	36.7%	-0.5%	14.4%	41.8%	42.6%	41.5%	44.1%
EBIT margin %	24.7%	-40.1%	-23.7%	30.8%	33.1%	31.5%	34.3%
PAT margin %	0.2%	-113.3%	-74%	9.3%	1.4%	9.7%	14.9%
Working capital
Receivable days	—	29	24	21	14	14	15
Inventory days	—	159	91	53	59	44	47
Payable days	—	737	1,293	480	185	240	284
NWC days	—	-549	-1,178	-406	-112	-183	-222
Leverage
Current ratio	—	0.19	0.13	0.23	0.25	0.18	0.27
Debt to EBITDA	—	—	34.76	5.13	4.57	4.03	3.14
Debt to equity	—	-21.07	-6.6	-6.05	-6.61	-8.8	-44.92
Interest coverage	1.1	-0.4	-0.3	1.3	1	2	3
Asset turnover	—	0.12	0.16	0.35	0.4	0.42	0.45
Return ratios
Return on assets %	—	-14%	-11.8%	3.3%	0.5%	4.1%	6.6%
Return on capital employed %	—	-5.9%	-4%	19%	26.3%	28.4%	35.2%
Return on equity %	—	394.1%	97.5%	-26.4%	-4.7%	-51%	-483.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
The Indian Hotels Company LimitedINDHOTELINDHOTEL	₹1,02,200 Cr	₹1,02,251 Cr	₹9,987 Cr	₹3,291 Cr	33%	₹2,146 Cr	23.2%	17%	17.2%	-191
Itc Hotels LimitedITCHOTELSITCHOTELS	₹33,018 Cr	₹33,019 Cr	₹4,260 Cr	₹1,471 Cr	34.4%	₹864 Cr	19.8%	10.2%	7.3%	600
Leela Palaces Hotels & Resorts LimitedTHELEELATHELEELA	₹19,003 Cr	₹20,560 Cr	₹1,604 Cr	₹785 Cr	48.6%	₹298 Cr	26.4%	8.4%	0.5%	-147
Eih LimitedEIHOTELEIHOTEL	₹18,628 Cr	₹18,628 Cr	₹3,023 Cr	₹1,030 Cr	34.8%	₹712 Cr	22.4%	18.6%	12.7%	-295
Chalet Hotels LimitedCHALETCHALET	₹18,182 Cr	₹20,506 Cr	₹2,387 Cr	₹1,064 Cr	42.9%	₹528 Cr	23.3%	18.4%	19.1%	80
Ventive Hospitality LimitedVENTIVEVENTIVE	₹12,894 Cr	₹14,929 Cr	₹2,496 Cr	₹1,079 Cr	44.4%	₹588 Cr	20.4%	10.2%	9.7%	-201
Lemon Tree Hotels LimitedLEMONTREELEMONTREE	₹8,530 Cr	₹10,533 Cr	₹1,473 Cr	₹700 Cr	47.9%	₹235 Cr	20%	14.6%	17.8%	-200
India Tourism Development Corporation LimitedITDCITDC	₹5,711 Cr	₹5,711 Cr	₹535 Cr	₹91 Cr	17.2%	₹82 Cr	15.5%	28.5%	21.6%	-47
Juniper Hotels LimitedJUNIPERJUNIPER	₹4,784 Cr	₹5,522 Cr	₹1,076 Cr	₹429 Cr	40.3%	₹166 Cr	13.5%	8.1%	5.1%	-32
Mahindra Holidays & Resorts India LimitedMHRILMHRIL	₹3,938 Cr	₹5,172 Cr	₹3,023 Cr	₹607 Cr	20.6%	₹54 Cr	2.2%	3.8%	8.9%	227
Samhi Hotels LimitedSAMHISAMHI	₹3,429 Cr	₹5,137 Cr	₹1,281 Cr	₹439 Cr	34.6%	₹504 Cr	45.4%	9.1%	30.3%	-321
Oriental Hotels LimitedORIENTHOTORIENTHOT	₹2,500 Cr	₹2,597 Cr	₹498 Cr	₹130 Cr	26.8%	₹67 Cr	13.8%	13.1%	12.7%	-164

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	152	18	70	155	152	138	203
	-23	31	22	-4	-9	2	-24
	-123	-61	-95	-117	-124	-151	-121
Net cash flow	6	-11	-2	34	18	-12	57
Free cash flow	131	18	69	150	145	138	149
CFO / Operating profit %	96.1%	—	308%	106.8%	89%	80.9%	105.7%

Asian Hotels (West) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

10

1

Announcements

10

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Asian Hotels (West) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends10

Board meetings1

Announcements

Dividends10

Board meetings1

Ratio timeline

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

10

1

10

1