HBG Hotels Ltd (HBGHOTELS)

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HBG Hotels Ltd (HBGHOTELS) · mywealthgrid

About

HBG Hotels operates hotel and resort properties in India's leisure services segment. Market cap ₹170.74 Cr with steady quarterly revenue (₹4.97–₹9.48 Cr). Profits show stark seasonality—March quarters report ₹51–195 Cr while other quarters range -₹0.13 to ₹2.34 Cr, indicating material exceptional items or one-time asset realizations.

Face value: ₹10

Market cap

₹141 Cr

P/E

2.5×

P/B

0.4×

Dividend yield

0.4%

ROE

0.8%

ROCE

1.4%

Debt / equity

0.02

OPM

12.6%

EPS (TTM)

₹27.2

Book value

₹182.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly net profit swings from ₹195.94 Cr to -₹0.13 Cr; earnings sustainability unclear—verify if exceptional items or operational factors drive volatility
Small revenue base (₹4–9 Cr per quarter) limits scale and operational leverage in leisure services sector
Operating margin volatile (5.1–25.1% quarterly); verify occupancy trends, cost control, and pricing dynamics in current market
Stock down 54% YoY to ₹83.29 from 52-week high ₹205; verify if demand deterioration or valuation reset drove decline

Generated analysis · source review pending

Growth drivers

Low debt (D/E 0.07) provides capacity for debt-funded expansion—verify capex plans and management's growth roadmap
Core revenue stable at ₹4–9 Cr quarterly despite 54% stock decline—verify occupancy rates and pricing assumptions
Regular dividend payouts despite profit volatility signal retained cash or asset liquidity—verify payout sustainability
Operating margins average ~13% (excluding March outliers)—verify if pricing increases or occupancy gains can expand core margins

Generated analysis · source review pending

1,976 historical price candles were omitted because the exchange source has not been verified.

₹68.8-3.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 60.2% (3-yr avg)
+Profit CAGR of 60.1% over the last 3 years
+Revenue CAGR of 24.7% over the last 5 years
+Almost debt-free (debt/equity 0)
+High promoter holding of 69.8% with no pledge

Cons

−Low dividend payout of 1.1% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 28
Growth: 28
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

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
	13	15	18	20	20	9	16	26	27	29	28
COGS	—	—	—	—	-6	3	5	7	8	8	6
Gross profit	—	—	—	—	—	7	11	19	19	21	22
	13	14	16	17	22	5	8	14	15	17	18
	1	1	2	3	4	1	3	4	4	4	4
OPM %	4.1%	6.4%	12.4%	16.4%	20.1%	13.9%	21.2%	16.7%	14%	13.2%	12.6%
Depreciation	—	—	—	—	3	2	2	2	2	2	2
Interest	1	1	1	1	1	1	1	2	1	2	2
	—	—	—	—	—	0	0	0	197	57	4
Profit before tax	0	1	1	1	1	-2	1	1	197	57	4
Tax	—	—	—	—	0	0	0	0	1	1	1
Tax %	—	—	—	—	50.7%	13.7%	49.1%	31.3%	0.4%	2.5%	25.1%
	0	1	1	1	0	-2	0	1	196	56	3
PAT margin %	1.8%	3.6%	3.5%	3.9%	1.9%	-18.7%	1.8%	2.6%	715.1%	196.1%	9.9%
EPS (₹)	0.2	-0.1	0.1	0.5	0.3	-1.2	—	—	—	34.5	1.3
EPS adjusted (₹)	—	—	—	—	—	-0.8	0.1	0.3	90.6	21.4	1
	0%	—	0%	0%	0%	—	—	—	—	0.7%	—
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	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	22	22	22	22	26	28
Reserves	—	2	3	199	324	346
	—	12	15	15	9	8
	—	8	9	9	16	14
Total equity & liabilities	—	43	49	245	375	396
	27	25	26	21	19	18
CWIP	—	—	—	—	7	8
Investments	—	1	1	25	7	8
	—	17	22	198	341	362
Total assets	—	43	49	245	375	396

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	2	2	25	-56	-31
	-1	-0	-4	-21	5	-5
	1	-1	1	-3	72	16
Net cash flow	0	-0	-0	1	21	-20
Free cash flow	-1	1	-1	22	-62	-31
CFO / Operating profit %	26.2%	50.9%	53%	646%	—	-871.5%

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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 %	—	—	71%	71.1%	72%	69.7%	73.5%	77.1%
EBITDA margin %	16.4%	20.1%	13.9%	21.2%	16.7%	14%	13.2%	12.6%
EBIT margin %	16.4%	7.7%	-12.8%	7%	8.3%	6.9%	6.8%	5.9%
PAT margin %	3.9%	1.9%	-18.7%	1.8%	2.6%	715.1%	196.1%	9.9%
Working capital
Receivable days	—	—	—	0	11	16	20	20
Inventory days	—	—	—	9	7	8	7	8
Payable days	—	—	—	111	139	96	105	89
NWC days	—	—	—	-102	-122	-72	-79	-61
Leverage
Current ratio	—	—	—	0.12	0.2	2.6	2.58	1.05
Debt to EBITDA	—	—	—	3.6	3.57	3.93	2.25	2.29
Debt to equity	—	—	—	0.51	0.63	0.07	0.02	0.02
Interest coverage	5.2	1.6	-0.9	1.7	1.6	2.7	5.1	3.4
Asset turnover	—	—	—	0.37	0.53	0.11	0.08	0.07
Return ratios
Return on assets %	—	—	—	0.7%	1.4%	80.3%	15%	0.7%
Return on capital employed %	—	—	—	3.7%	6.8%	2.9%	2.8%	1.4%
Return on equity %	—	—	—	1.2%	2.8%	88.9%	16%	0.7%

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
	70.45%	70.45%	70.45%	70.45%	70.45%	66.59%	70.02%	70.02%	71.79%	69.8%	69.8%	69.8%
	0%	0%	0%	0.05%	0.13%	0.6%	1.29%	1.29%	1.12%	1.08%	1.03%	1.02%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	29.54%	29.54%	29.54%	29.49%	29.41%	32.8%	28.68%	28.68%	27.08%	29.12%	29.17%	29.18%
No. of shareholders	—	—	—	—	—	—	—	—	2,542	2,642	2,641	2,653

Promoter holding down 0.65 percentage points since Sep 2023.

6 deals · 30 Jun 2023 – 20 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Aug 2026	MUKESH BABU SECURITIES LIMITED	Bulk	BSE	Buy	1,50,000	₹82.50	₹1.24 Cr
20 Aug 2026	BLACK HAWK PROPERTIES PRIVATE LIMITED	Bulk	BSE	Sell	1,50,000	₹82.50	₹1.24 Cr
9 Jul 2025	VINIT VIJAY KUMAR	Bulk	BSE	Sell	1,00,000	₹231.00	₹2.31 Cr
9 Jul 2025	AL MAHA INVESTMENT FUND PCC - ONYX STRATEGY	Bulk	BSE	Buy	1,00,000	₹231.00	₹2.31 Cr
4 Jul 2023	NEELAM JILESH CHHEDA	Bulk	BSE	Sell	75,000	₹70.50	₹0.53 Cr
30 Jun 2023	SANJIV DHIRESHBHAI SHAH	Bulk	BSE	Buy	70,000	₹61.05	₹0.43 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. SAMIT PRAFULLA HEDEExecutive Director-Chairperson related to Promoter-MD
Mr. PAUL DAVID TALBOT WILLCOXNon-Executive - Non Independent Director
Mr. KIRAN NARAYAN TALCHERKARNon-Executive - Independent Director
Mrs. SHIBANEE MANISH HARLALKANon-Executive - Non Independent Director
Mr. ARUN PANDURANG PAWARAlternate Director
Mr. DEV KIRIT TOPRANINon-Executive - Independent Director
Mrs. ANITA SHANTARAMNon-Executive - Independent Director
Mr. Deepak PednekarChief Financial Officer
Mrs. Prachi JainCompany 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 HBG Hotels Ltd. 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.

4

Interim dividend15 May 2026 · ex-date₹0.15
Final dividend22 Sept 2025 · ex-date₹0.15
Interim dividend6 Dec 2024 · ex-date₹0.1
Final dividend6 Sept 2024 · ex-date₹0.25

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

14 announcementsExport CSV

30 Sept 2026, 12:49 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 6:00 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 5:54 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

15 Sept 2026, 5:04 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

12 Sept 2026, 12:57 pmAGM/EGM

Li Sting Regulation: Regulation 30 And All Other Applicable Regulations. If Any, Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015 As Amended From Time To Time - Notice Of Postal Ballot.

Postal Ballot PDF

11 Sept 2026, 4:50 pmCompany Update

Announcement under Regulation 30 (LODR)-Issue of Securities

Issue of Securities PDF

11 Sept 2026, 4:48 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On 11.09.2026

Outcome of Board Meeting PDF

5 Sept 2026, 4:57 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
30 Sept 2026, 12:49 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 6:00 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	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 %	—	—	71%	71.1%	72%	69.7%	73.5%	77.1%
EBITDA margin %	16.4%	20.1%	13.9%	21.2%	16.7%	14%	13.2%	12.6%
EBIT margin %	16.4%	7.7%	-12.8%	7%	8.3%	6.9%	6.8%	5.9%
PAT margin %	3.9%	1.9%	-18.7%	1.8%	2.6%	715.1%	196.1%	9.9%
Working capital
Receivable days	—	—	—	0	11	16	20	20
Inventory days	—	—	—	9	7	8	7	8
Payable days	—	—	—	111	139	96	105	89
NWC days	—	—	—	-102	-122	-72	-79	-61
Leverage
Current ratio	—	—	—	0.12	0.2	2.6	2.58	1.05
Debt to EBITDA	—	—	—	3.6	3.57	3.93	2.25	2.29
Debt to equity	—	—	—	0.51	0.63	0.07	0.02	0.02
Interest coverage	5.2	1.6	-0.9	1.7	1.6	2.7	5.1	3.4
Asset turnover	—	—	—	0.37	0.53	0.11	0.08	0.07
Return ratios
Return on assets %	—	—	—	0.7%	1.4%	80.3%	15%	0.7%
Return on capital employed %	—	—	—	3.7%	6.8%	2.9%	2.8%	1.4%
Return on equity %	—	—	—	1.2%	2.8%	88.9%	16%	0.7%

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

HBG Hotels Ltd

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

4

1

Announcements

Not in the F&O segment

No fund holdings on record

4

1

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

HBG Hotels Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

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

Dividends4

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Dividends4

Board meetings1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

4

1