Viceroy Hotels Limited (VHLTD)

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Viceroy Hotels Limited (VHLTD) · mywealthgrid

About

Viceroy Hotels Limited operates luxury resorts in India's leisure services sector, with market capitalization of ₹846 Cr. Consolidated revenue reached ₹44.9 Cr in June 2026. The company has demonstrated operating margins as high as 31.54% (Dec 2025) but operates with substantial leverage (D/E 0.99) typical of capital-intensive hospitality.

Face value: ₹10

Market cap

₹863 Cr

P/E

30.4×

P/B

3.2×

Dividend yield

ROE

7.2%

ROCE

7.3%

Debt / equity

0.99

OPM

26.6%

EPS (TTM)

₹4.2

Book value

₹39.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin compressed sharply from 31.54% (Dec 2025) to 19.61% (Jun 2026), indicating significant cost or demand pressures
Earnings highly volatile: ₹-3.02 Cr net loss (Jun 2025) followed by only ₹1.15 Cr profit (Jun 2026) on ₹32.74 Cr revenue
ROE of 7.17% substantially below cost of capital; high D/E ratio (0.99) in capital-intensive business constrains financial flexibility
Leisure services cyclical and discretionary-spend dependent; verify domestic tourism recovery pace, occupancy trends, pricing sustainability

Generated analysis · source review pending

Growth drivers

Standalone revenue grew 29% YoY from ₹25.37 Cr (Jun 2025) to ₹32.74 Cr (Jun 2026)
Inorganic expansion: consolidated revenue ₹44.9 Cr (Jun 2026) exceeds standalone ₹32.74 Cr by ₹12.16 Cr, indicating acquisitions or managed properties
Operating leverage from margin recovery: peak OPM of 31.54% (Dec 2025) shows potential to drive significant earnings growth if current 19.61% (Jun 2026) compression reverses

Generated analysis · source review pending

560 historical price candles were omitted because the exchange source has not been verified.

₹127.7-2.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 20.3% (3-yr avg)
+Healthy operating margin of 26.6%
+High promoter holding of 84.1% with no pledge

Cons

−Modest revenue growth of 6.2% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 31
Growth: 35
Valuation: 50

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

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

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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 2023	Mar 2024	Mar 2025	Mar 2026
	120	138	137	143
COGS	34	37	15	15
Gross profit	86	102	122	128
	77	84	89	90
	9	18	33	38
OPM %	7.2%	12.9%	24.3%	26.6%
Depreciation	9	14	12	15
Interest	0	1	5	9
	0	-2	4	7
Profit before tax	0	0	21	21
Tax	1	-2	-57	3
Tax %	111.1%	-724.1%	-279.9%	12.4%
	-0	2	78	18
PAT margin %	-0%	1.7%	56.8%	12.8%
EPS (₹)	—	1.4	12.2	2.9
EPS adjusted (₹)	-0	0.4	11.5	2.7
Annual report	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	42	42	63	68	68
Reserves	—	-487	4	177	199
	—	512	168	52	264
	—	285	92	15	26
Total equity & liabilities	—	352	327	312	557
	230	222	214	178	405
CWIP	—	57	37	15	57
Investments	—	0	0	30	1
	—	74	76	88	94
Total assets	—	352	327	312	557

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-23	-159	32	58
	44	42	-77	-210
	-11	135	-83	165
Net cash flow	10	18	-128	14
Free cash flow	-23	-181	14	-65
CFO / Operating profit %	-270.3%	-893.9%	96.7%	152.2%

Compounded sales growth

7 years: —
5 years: —
3 years: 6%
1 year: 4%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: -77%

Return on equity

7 years: —
5 years: —
3 years: 14%
Last year: 7%

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	71.7%	73.5%	88.8%	89.5%
EBITDA margin %	7.2%	12.9%	24.3%	26.6%
EBIT margin %	0%	2.8%	15.5%	16%
PAT margin %	-0%	1.7%	56.8%	12.8%
Working capital
Receivable days	28	21	19	16
Inventory days	13	8	14	17
Payable days	229	83	130	190
NWC days	-188	-54	-98	-157
Leverage
Current ratio	0.19	0.92	2.92	1.22
Debt to EBITDA	59.42	9.46	1.56	6.94
Debt to equity	-1.15	2.52	0.21	0.99
Interest coverage	10	3.4	5	3.4
Asset turnover	0.34	0.42	0.44	0.26
Return ratios
Return on assets %	-0%	0.7%	25%	3.3%
Return on capital employed %	0.5%	2.7%	8.9%	7.3%
Return on equity %	0%	3.6%	31.9%	6.9%

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
	13.41%	95%	95%	95%	90%	84.11%	84.11%	84.11%	84.11%	84.11%	84.11%	84.11%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.02%	4%	1.58%	1.58%	1.58%	1.48%	1.48%	0.88%	0.35%	0.14%	0.04%	0.04%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	86.57%	1%	3.42%	3.42%	8.42%	14.41%	14.41%	15.01%	15.54%	15.75%	15.85%	15.85%
No. of shareholders	—	—	—	—	—	—	—	—	16,918	16,529	16,033	15,770

Promoter holding up 70.7 percentage points since Sep 2023.

1 deal · 2 Jan 2026 – 2 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Jan 2026	ASSET RECONSTRUCTION COMPANY INDIA LIMITED	Bulk	NSE	Sell	14,48,313	₹130.16	₹18.85 Cr

1–1 of 1

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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. Gorinka Jaganmohan RaoNon-Executive - Independent Director-Chairperson
Mr. Kondareddy Ravinder ReddyExecutive Director
Mr. Konda Reddy Anirudh ReddyNon-Executive - Non Independent Director
Mr. Prabhaker Reddy SolipuramNon-Executive - Non Independent Director
Ms. Vaishnavi NalabalaNon-Executive - Independent Director
Mrs. Kondareddy SukanyaNon-Executive - Non Independent Director
Mr. P.V. Krishna ReddyChief Financial Officer
Mr. Chappidi Siva Kumar ReddyCompany 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 Viceroy Hotels 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

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Events

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

1

Board meeting to consider results31 Jul 2026

1

Right Issue of Equity Shares20 Aug 2026 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

87 announcementsExport CSV

28 Sept 2026, 5:01 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

19 Sept 2026, 3:19 pmInsider Trading / SAST

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 PDF

18 Sept 2026, 5:31 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

15 Sept 2026, 7:28 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment

Allotment of Equity Shares PDF

10 Sept 2026, 7:12 pmCompany Update

Disclosure Regulation 30 (13) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

10 Sept 2026, 4:24 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

10 Sept 2026, 4:20 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

31 Aug 2026, 3:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
28 Sept 2026, 5:01 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
19 Sept 2026, 3:19 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

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Viceroy Hotels Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

1

Announcements

Not in the F&O segment

No fund holdings on record

1

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Viceroy 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

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

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

Events

Board meetings1

Rights issues1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Board meetings1

Rights issues1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1