Eih Associated Hotels Limited (EIHAHOTELS)

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Eih Associated Hotels Limited (EIHAHOTELS) · mywealthgrid

About

Eih Associated Hotels operates hotels and resorts in India's leisure segment, with market cap ₹1,822 Cr and promoter control (75%). Strong operational efficiency in peak seasons yields 40–44% operating margins, but acute seasonality and declining year-over-year revenue across all quarters present near-term headwinds.

Face value: ₹10

Market cap

₹1,803 Cr

P/E

20.5×

P/B

3.0×

Dividend yield

1.2%

ROE

15.3%

ROCE

19.7%

Debt / equity

OPM

31%

EPS (TTM)

₹14.4

Book value

₹98.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Severe seasonality: Jun/Sep quarters show thin margins (4–13% OPM) while Mar/Dec achieve 40%+, indicating significant under-utilization in off-peak periods; researcher should verify whether this reflects structural seasonality or cyclical weakness in current leisure demand.
Revenue contraction: all quarters declined year-over-year (Mar -9%, Jun -4%, Sep -18%), with no recovery visible; verify if this reflects market-wide downturn or company-specific capacity decisions.
Low public float (11.36%) and zero domestic institutional holding (0% DII) limit capital access if growth requires external funding.
Valuation at 20.74 PE against declining EPS (₹6.18 Mar 2026 vs ₹7.59 Mar 2025) and -19.35% one-year return; researcher should verify if price reflects temporary trough or structural challenges.

Generated analysis · source review pending

Growth drivers

Operating margins of 40–44% in peak quarters (44.44% Dec 2025, 43.28% Mar 2025) demonstrate pricing power; if revenue recovers from current year-over-year declines (-9% to -18%), profit would expand significantly at these margins. Researcher should verify leisure sector demand trends and occupancy forecasts.
Zero debt (D/E 0) and strong peak-quarter cash generation (net profit ₹40–47Cr in Mar/Dec) provide financial capacity to invest in capacity or operational improvements without external financing needs.
Promoter-controlled structure (75%) with recent capital actions (dividend Jul 2026, bonus Aug 2024) indicates strategic long-term control and ongoing deployment capability; verify if strategy includes portfolio expansion, optimization, or new property additions.

Generated analysis · source review pending

2,526 historical price candles were omitted because the exchange source has not been verified.

₹296.1+1.3%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.2%
+Healthy operating margin of 31%
+Revenue CAGR of 30.5% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 258.1×
+High promoter holding of 75% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 75
Growth: 26
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.

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Financials

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

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	247	265	264	264	249	101	195	337	385	408	384
COGS	—	—	21	8	20	10	16	27	28	30	30
Gross profit	—	—	242	257	229	91	179	310	357	379	354
	174	191	175	193	179	110	147	215	244	252	235
	73	75	67	64	50	-19	32	95	113	126	119
OPM %	29.4%	28.1%	25.6%	24%	20.3%	-18.5%	16.5%	28.1%	29.4%	31%	31%
Depreciation	16	14	14	14	16	17	16	17	17	17	17
Interest	5	2	0	0	0	1	0	0	1	0	0
	0	6	6	10	9	-1	2	7	13	15	16
Profit before tax	54	65	59	58	43	-37	18	85	109	123	117
Tax	16	22	21	20	5	-10	6	20	28	31	30
Tax %	28.9%	34.1%	35.6%	35%	11.7%	-28%	30%	23.8%	25.5%	25.5%	25.5%
	38	43	38	38	38	-27	13	65	81	92	87
PAT margin %	15.5%	16.1%	14.3%	14.4%	15.2%	-26.4%	6.6%	19.2%	21.1%	22.5%	22.7%
EPS (₹)	12.6	—	12.4	12.5	12.5	-8.8	4.2	21.2	26.6	15.1	14.3
EPS adjusted (₹)	—	—	—	—	6.2	-4.4	2.1	10.6	13.3	15.1	14.3
	31.8%	—	36.3%	36.1%	0%	—	0%	23.6%	22.6%	23.2%	24.5%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	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	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	30	30	30	30	30	61	61
Reserves	315	288	302	366	432	476	541
	0	0	0	0	0	0	0
	102	71	80	108	101	114	122
Total equity & liabilities	447	389	412	504	563	651	724
	283	279	278	276	302	289	296
CWIP	5	6	5	12	8	17	47
Investments	51	51	74	140	153	200	195
	108	54	55	77	100	145	186
Total assets	447	389	412	504	563	651	724

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Ratios

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

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	97.1%	92%	89.9%	91.7%	92%	92.8%	92.7%	92.3%
EBITDA margin %	24%	20.3%	-18.5%	16.5%	28.1%	29.4%	31%	31%
EBIT margin %	18.6%	13.8%	-35.3%	8.5%	23.2%	25.1%	26.7%	26.5%
PAT margin %	14.4%	15.2%	-26.4%	6.6%	19.2%	21.1%	22.5%	22.7%
Working capital
Receivable days	—	36	26	14	17	21	24	15
Inventory days	—	209	367	259	200	190	169	175
Payable days	—	884	1,124	718	645	560	618	630
NWC days	—	-639	-731	-444	-428	-348	-425	-440
Leverage
Current ratio	—	2.22	2.05	2.43	3	3.92	4.58	3.49
Debt to EBITDA	—	0	—	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0	0
Interest coverage	136.7	96.6	-61.7	56.4	218.6	136.9	304.5	258.1
Asset turnover	—	0.56	0.26	0.47	0.67	0.68	0.63	0.53
Return ratios
Return on assets %	—	8.5%	-6.9%	3.1%	12.8%	14.4%	14.1%	12%
Return on capital employed %	—	11.3%	-9%	5.4%	21.2%	23.3%	23.6%	19.7%
Return on equity %	—	11%	-8.4%	3.9%	16.3%	17.5%	17.1%	14.5%

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
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	13.88%	13.81%	13.67%	13.73%	13.75%	13.76%	13.7%	13.71%	13.71%	13.7%	13.66%	13.64%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.12%	11.19%	11.33%	11.27%	11.25%	11.24%	11.3%	11.29%	11.29%	11.3%	11.34%	11.36%
No. of shareholders	—	—	—	—	—	—	—	—	24,928	25,485	25,274	25,637

Promoter holding up 0 percentage points since Sep 2023.

6 deals · 20 Dec 2021 – 19 Mar 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Mar 2024	THE JUPITER GLOBAL FUND-JUPITER INDIA SELECT	Block	BSE	Buy	9,79,302	₹665.85	₹65.21 Cr
19 Mar 2024	JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED	Block	BSE	Sell	9,79,302	₹665.85	₹65.21 Cr
19 Mar 2024	THE JUPITER GLOBAL FUND-JUPITER INDIA SELECT	Bulk	BSE	Buy	9,79,302	₹665.85	₹65.21 Cr
19 Mar 2024	JUPITER SOUTH ASIA INVESTMENT COMPANY LIMITED	Bulk	BSE	Sell	9,79,302	₹665.85	₹65.21 Cr
20 Dec 2021	KAMAL KABRA HUF	Bulk	NSE	Sell	1,68,331	₹316.11	₹5.32 Cr
20 Dec 2021	KAMAL KABRA	Bulk	NSE	Buy	1,68,000	₹316.11	₹5.31 Cr

1–6 of 6

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. ARJUN SINGH OBEROINon-Executive - Non Independent Director-Chairperson
Mr. VIKRAMJIT SINGH OBEROIExecutive Director-MD
Samidh DasChief Financial Officer
Mr. AKSHAY RAJAN RAHEJANon-Executive - Non Independent Director
Mr. SURIN SHAILESH KAPADIANon-Executive - Independent Director
Ms. AMEETA AZIZ PARPIANon-Executive - Independent Director
Mr. SANDEEP KUMAR BARASIANon-Executive - Independent Director
Mr. ATUL HIRALAL SHAHNon-Executive - Independent Director
Mr. Atul Hiralal ShahNon - Executive Independent Director
Mr. Tejasvi DixitCompany 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

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Fund holders

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

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	45	0	0%	0%	-0

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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.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

45 announcementsExport CSV

30 Sept 2026, 12:13 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window 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 %	97.1%	92%	89.9%	91.7%	92%	92.8%	92.7%	92.3%
EBITDA margin %	24%	20.3%	-18.5%	16.5%	28.1%	29.4%	31%	31%
EBIT margin %	18.6%	13.8%	-35.3%	8.5%	23.2%	25.1%	26.7%	26.5%
PAT margin %	14.4%	15.2%	-26.4%	6.6%	19.2%	21.1%	22.5%	22.7%
Working capital
Receivable days	—	36	26	14	17	21	24	15
Inventory days	—	209	367	259	200	190	169	175
Payable days	—	884	1,124	718	645	560	618	630
NWC days	—	-639	-731	-444	-428	-348	-425	-440
Leverage
Current ratio	—	2.22	2.05	2.43	3	3.92	4.58	3.49
Debt to EBITDA	—	0	—	0	0	0	0	0
Debt to equity	—	0	0	0	0	0	0	0
Interest coverage	136.7	96.6	-61.7	56.4	218.6	136.9	304.5	258.1
Asset turnover	—	0.56	0.26	0.47	0.67	0.68	0.63	0.53
Return ratios
Return on assets %	—	8.5%	-6.9%	3.1%	12.8%	14.4%	14.1%	12%
Return on capital employed %	—	11.3%	-9%	5.4%	21.2%	23.3%	23.6%	19.7%
Return on equity %	—	11%	-8.4%	3.9%	16.3%	17.5%	17.1%	14.5%

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

Date	Category	Subject	Filing
30 Sept 2026, 12:13 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Aug 2026, 5:00 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
4 Aug 2026, 10:56 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Jul 2026, 3:08 pm	Board Meeting	Board Meeting Intimation for The Unaudited Financial Results For The Quarter Ended 30Th June 2026.	PDF
15 Jul 2026, 12:09 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF
11 Jul 2026, 2:32 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
10 Jul 2026, 9:38 pm	Company Update General	Letter Dispatched To The Members Of The Company- Weblink Of The Annual Report FY 2025-26	PDF
10 Jul 2026, 9:33 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	57	-12	38	91	78	109	100
	-34	9	-37	-89	-64	-89	-80
	-18	-1	-1	-2	-17	-19	-22
Net cash flow	5	-4	1	1	-3	1	-1
Free cash flow	20	-28	22	72	40	81	40
CFO / Operating profit %	113.1%	—	118%	96.3%	68.4%	86%	84.5%

Eih Associated Hotels 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

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

18

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Eih Associated 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

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Dividends18

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

18

1

1