Chalet Hotels Limited (CHALET)

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Chalet Hotels Limited (CHALET) · mywealthgrid

About

Chalet Hotels operates a hotels and resorts portfolio in the Consumer Discretionary leisure services segment. With a market cap of ₹18,070 Cr and operating margins of 42–49%, the company is positioned for scale and profitability. An ROE of 19.13% indicates efficient capital deployment.

Face value: ₹10

Market cap

₹18,182 Cr

P/E

34.4×

P/B

4.9×

Dividend yield

0.2%

ROE

19.1%

ROCE

18.4%

Debt / equity

0.63

OPM

42.9%

EPS (TTM)

₹24.1

Book value

₹168.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 34.22 is elevated for hospitality; verify what earnings growth and margin sustainability justify this valuation.
Quarterly revenue ranges from ₹448–₹705 Cr and net profit from ₹86–₹167 Cr; clarify drivers (seasonality, occupancy dynamics, pricing pressure) and whether volatility is structural.
Consumer Discretionary leisure spending is cyclical; verify exposure and insulation from economic slowdowns and travel volume declines.
Moderate leverage (D/E 0.63) requires verification of debt service coverage and cash generation adequacy during revenue downturns.

Generated analysis · source review pending

Growth drivers

Operating margins of 42–49% indicate operational efficiency; verify capacity additions (new properties) planned and current utilization rates to assess scaling potential.
ROE of 19.13% suggests capital deployed at above cost; assess pipeline for capex in new assets or property expansions to compound returns.
Quarterly revenue peaks at ₹705 Cr and EPS at ₹7.66 (Sep 2025) suggest seasonality; verify whether geographic diversification or product mix shifts could reduce volatility and unlock underutilized capacity.

Generated analysis · source review pending

1,884 historical price candles were omitted because the exchange source has not been verified.

₹830.3-1.2%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 42.9%
+Profit CAGR of 52.1% over the last 3 years
+Revenue CAGR of 56.6% over the last 5 years
+High promoter holding of 67.3% with no pledge

Cons

−Low dividend payout of 8.3% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

52/100

Business quality: 60
Growth: 50
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.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	987	981	294	508	1,128	1,417	1,718	2,770
COGS	137	116	37	77	139	145	159	536
Gross profit	850	865	258	431	989	1,272	1,559	2,233
	531	529	251	332	536	687	823	1,046
	319	337	7	98	453	585	736	1,187
OPM %	32.3%	34.3%	2.4%	19.4%	40.1%	41.3%	42.8%	42.9%
Depreciation	115	113	117	118	117	138	179	230
Interest	266	146	152	144	154	197	159	180
	44	24	14	11	92	20	36	42
Profit before tax	-18	101	-248	-153	273	269	434	819
Tax	-11	1	-109	-72	90	-9	292	174
Tax %	-58.4%	1.2%	-44%	-46.9%	32.8%	-3.3%	67.2%	21.2%
	-8	100	-139	-81	183	278	142	645
PAT margin %	-0.8%	10.2%	-47.3%	-16%	16.2%	19.6%	8.3%	23.3%
EPS (₹)	-0.4	5	-6.8	-4	8.9	13.5	6.5	29.5
EPS adjusted (₹)	-0.4	4.9	-6.8	-4	8.9	13.5	6.5	29.5
	—	0%	—	—	0%	0%	0%	6.8%
Annual report	Annual report for Mar 2019	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	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	171	205	205	205	205	205	205	218	219
Reserves	324	1,218	—	1,211	1,136	1,337	1,646	2,828	3,479
Minority interest	—	3	—	—	—	—	—	—	—
	2,379	1,411	—	2,058	2,534	2,794	2,950	2,554	2,324
	842	723	—	514	567	595	948	1,463	1,287
Total equity & liabilities	3,716	3,560	—	3,989	4,443	4,931	5,750	7,063	7,309
	2,146	2,072	2,305	2,085	2,057	2,206	2,561	3,212	3,429
CWIP	22	34	—	36	32	98	37	183	132
Investments	4	—	—	1,000	1,362	1,654	1,855	2,107	2,293
	1,544	1,453	—	869	991	973	1,297	1,561	1,453
Total assets	3,716	3,560	—	3,989	4,443	4,931	5,750	7,063	7,309

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Hospitality (Hotels)	1,731.13	581.85	3,882.84	299.09	3,583.75	16.24
Real Estate	738.31	272.67

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	86.1%	88.2%	87.6%	84.8%	87.7%	89.7%	90.7%	80.6%
EBITDA margin %	32.3%	34.3%	2.4%	19.4%	40.1%	41.3%	42.8%	42.9%
EBIT margin %	20.6%	22.8%	-37.5%	-3.9%	29.7%	31.5%	32.4%	34.6%
PAT margin %	-0.8%	10.2%	-47.3%	-16%	16.2%	19.6%	8.3%	23.3%
Working capital
Receivable days	18	—	38	31	19	14	17	9
Inventory days	1,054	—	3,898	1,866	1,083	1,361	1,449	183
Payable days	7	—	826	411	394	520	393	112
NWC days	1,065	—	3,111	1,487	708	855	1,073	80
Leverage
Current ratio	0.83	—	0.73	0.75	0.65	0.46	0.53	0.7
Debt to EBITDA	4.42	—	291.96	25.73	6.17	5.05	3.47	1.96
Debt to equity	0.99	—	1.45	1.89	1.81	1.59	0.84	0.63
Interest coverage	0.9	1.7	-0.6	0	2.5	2.4	3.7	5.5
Asset turnover	0.28	—	0.07	0.11	0.23	0.25	0.24	0.38
Return ratios
Return on assets %	-0.2%	—	-3.5%	-1.8%	3.7%	4.8%	2%	8.8%
Return on capital employed %	8.9%	—	-2.7%	0.1%	10.4%	12.1%	13.6%	18.4%
Return on equity %	-0.5%	—	-9.8%	-6.1%	11.9%	15%	4.7%	17.4%

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
	71.7%	71.7%	67.52%	67.52%	67.48%	67.42%	67.41%	67.4%	67.34%	67.33%	67.29%	67.29%
	2.51%	3.09%	6.84%	6.81%	7.04%	7.52%	5.24%	5.29%	5.73%	5.08%	4.7%	4.26%
	21.82%	20.71%	21.42%	21.47%	21.46%	21.2%	23.94%	23.92%	23.4%	23.99%	24.57%	25%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	3.97%	4.5%	4.22%	4.2%	4.02%	3.86%	3.41%	3.39%	3.53%	3.6%	3.44%	3.45%
No. of shareholders	—	—	—	—	—	—	—	—	66,228	67,682	52,522	49,687

Promoter holding down 4.41 percentage points since Sep 2023.

4 disclosures

Person	Deal	Shares	Value	Holding	Filed
Sanjay SethiDirector	PledgePledge Creation	1,00,000	₹10.2 cr	0.11% → 0.11%	10 Sept 20257(2)
Sanjay SethiDirector	BuyESOP	5,000	₹14.6 L

2 deals · 23 Apr 2024 – 23 Apr 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
23 Apr 2024	SOCIETE GENERALE	Block	NSE	Buy	1,30,585	₹887.55	₹11.59 Cr
23 Apr 2024	MARSHALL WACE INVESTMENT STRATEGIES - EUREKA FUND	Block	NSE	Sell	1,30,585	₹887.55	₹11.59 Cr

1–2 of 2

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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. Hetal Madhukant GandhiNon-Executive - Independent Director-Chairperson
Mr. JosephConrad Agnelo DsouzaNon-Executive - Independent Director
Mr. Arthur W De HaastNon-Executive - Independent Director
Ms. Radhika Dilip PiramalNon-Executive - Independent Director
Mr. Manish Balkishan ChokhaniNon-Executive - Independent Director
Mr. Ravi Chandru RahejaNon-Executive - Non Independent Director
Mr. Neel Chandru RahejaNon-Executive - Non Independent Director
Mr. Sanjay SethiNon-Executive - Non Independent Director
Mr. Shwetank SinghExecutive Director
Mr. Gautam MehraNon - Executive Independent Director
Mr. Nitin KhannaChief Financial Officer

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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.

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

9.81%

of the company's equity

All mutual funds

23.78%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

41 schemes · 10 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	90 L	813.56	1.91%	4.11%	-0
LARGE CAP FUND	Nippon India Mutual Fund	56.8 L	513.42	0.95%	2.593%	-2.06 L
Small Cap Fund	Axis Mutual Fund	18.67 L	168.77	0.54%	0.853%	-0
ELSS – Tax Saver Fund	ICICI Prudential Mutual Fund	13.9 L	125.64	0.88%	0.635%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	13.6 L	122.93	1.51%	0.621%	+13,918
Services Opportunities Fund	Axis Mutual Fund	3.65 L	33.01	2.22%	0.167%	-0
ESG Exclusionary Strategy Fund	ICICI Prudential Mutual Fund	3.31 L	29.96	2.21%	0.151%	-0
Multi Asset Allocation FundNEW	DSP Mutual Fund	2.81 L	25.36	0.23%	0.128%	—

1–8 of 41

1 / 6

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Documents

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

Announcements

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Events

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

2

Final dividend11 Sept 2026 · ex-date₹1
Interim dividend11 Nov 2025 · ex-date₹1

1

Board meeting to consider results29 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

32 announcementsExport CSV

30 Sept 2026, 3:05 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	86.1%	88.2%	87.6%	84.8%	87.7%	89.7%	90.7%	80.6%
EBITDA margin %	32.3%	34.3%	2.4%	19.4%	40.1%	41.3%	42.8%	42.9%
EBIT margin %	20.6%	22.8%	-37.5%	-3.9%	29.7%	31.5%	32.4%	34.6%
PAT margin %	-0.8%	10.2%	-47.3%	-16%	16.2%	19.6%	8.3%	23.3%
Working capital
Receivable days	18	—	38	31	19	14	17	9
Inventory days	1,054	—	3,898	1,866	1,083	1,361	1,449	183
Payable days	7	—	826	411	394	520	393	112
NWC days	1,065	—	3,111	1,487	708	855	1,073	80
Leverage
Current ratio	0.83	—	0.73	0.75	0.65	0.46	0.53	0.7
Debt to EBITDA	4.42	—	291.96	25.73	6.17	5.05	3.47	1.96
Debt to equity	0.99	—	1.45	1.89	1.81	1.59	0.84	0.63
Interest coverage	0.9	1.7	-0.6	0	2.5	2.4	3.7	5.5
Asset turnover	0.28	—	0.07	0.11	0.23	0.25	0.24	0.38
Return ratios
Return on assets %	-0.2%	—	-3.5%	-1.8%	3.7%	4.8%	2%	8.8%
Return on capital employed %	8.9%	—	-2.7%	0.1%	10.4%	12.1%	13.6%	18.4%
Return on equity %	-0.5%	—	-9.8%	-6.1%	11.9%	15%	4.7%	17.4%

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

Date	Category	Subject	Filing
30 Sept 2026, 3:05 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
29 Sept 2026, 7:02 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
22 Sept 2026, 8:18 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
22 Sept 2026, 5:09 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
21 Sept 2026, 7:41 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
17 Sept 2026, 3:52 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
7 Sept 2026, 9:16 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Updates on Acquisition	PDF
31 Aug 2026, 5:56 pm	Company Update General	Communication To Shareholders For Weblink Of The Annual Report As Per Regulation 36 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	249	366	252	60	62	477	689	950	1,067
	-129	147	-394	-50	-396	-592	-635	-1,385	-575
	-157	-523	133	-34	411	126	-108	496	-467
Net cash flow	-37	-10	-9	-24	77	11	-53	61	25
Free cash flow	249	366	252	12	21	302	253	-19	729
CFO / Operating profit %	—	114.5%	75%	853.5%	63.2%	105.3%	117.9%	129.2%	89.9%

Chalet Hotels Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

2

1

Announcements

2

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Hospitality · revenue

Chalet Hotels Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends2

Board meetings1

Announcements

Dividends2

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Hospitality · revenue

2

1

2

1