---
title: "Polo Hotels Ltd (526687) — Share Price, Financials & Analysis"
symbol: "526687"
company: "Polo Hotels Ltd"
canonical: "https://tapetide.com/stocks/526687"
bse_code: "526687"
sector: "Consumer Discretionary"
industry: "Leisure Services"
generated_at: "2026-09-13T18:58:46.902Z"
---

# Polo Hotels Ltd (526687)

Canonical page: https://tapetide.com/stocks/526687

## Company

- **BSE Code:** 526687
- **Sector:** Consumer Discretionary
- **Industry:** Leisure Services
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** polohotelsltd.com

## About

Incorporated in 1984, Polo Hotels Ltd is in the business of Hotels & Restaurants[1]

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.33 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -50.5% over past five years.
- Company has a low return on equity of -1.11% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 12,629 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 23% | — | -23% |
| revenue growth | 300% | -60% | -50% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.07 | 0.01 | 0 | 0.05 | 0 | 0 | 0 | 0.01 | 0.04 | 0 | 0 | 0 |
| Expenses | 0.23 | 0.13 | 0.15 | 0.22 | 0.16 | 0.18 | 0.08 | 0.4 | 0.29 | 0.14 | 0.1 | 0.28 |
| Operating Profit | -0.16 | -0.12 | -0.15 | -0.17 | -0.16 | -0.18 | -0.08 | -0.39 | -0.25 | -0.14 | -0.1 | -0.28 |
| OPM % | -228.57 | -1200 | — | -340 | — | — | — | -3900 | -625 | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0.01 | 0.02 | 0.06 | 0.1 |
| Interest | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.02 | 0 | 0 | 0 |
| Depreciation | 0.04 | 0.04 | 0.04 | 0.07 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Profit before tax | -0.21 | -0.16 | -0.19 | -0.24 | -0.19 | -0.22 | -0.12 | -0.44 | -0.3 | -0.16 | -0.08 | -0.22 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.21 | -0.16 | -0.19 | -0.25 | -0.19 | -0.21 | -0.12 | -0.44 | -0.29 | -0.15 | -0.08 | -0.22 |
| EPS in Rs | -0.09 | -0.07 | -0.08 | -0.11 | -0.08 | -0.09 | -0.05 | -0.2 | -0.13 | -0.07 | -0.04 | -0.1 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.07 | 1.2 | 1.73 | 1.68 | 1.64 | 0.76 | 0.08 | 0.05 | 0.05 | 0.04 |
| Expenses | 0.02 | 0.86 | 1.39 | 1.97 | 1.74 | 1.03 | 0.57 | 0.52 | 0.77 | 0.81 |
| Operating Profit | 0.05 | 0.34 | 0.34 | -0.29 | -0.1 | -0.27 | -0.49 | -0.47 | -0.72 | -0.77 |
| OPM % | 71.43 | 28.33 | 19.65 | -17.26 | -6.1 | -35.53 | -612.5 | -940 | -1440 | -1925 |
| Other Income | 0 | 0 | 0.01 | 0.05 | 0.05 | 0.01 | 0.01 | 0.01 | 0.01 | 0.19 |
| Interest | 0 | 0.24 | 0.19 | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.03 | 0.02 |
| Depreciation | 0.03 | 0.06 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.16 |
| Profit before tax | 0.02 | 0.04 | 0.02 | -0.41 | -0.22 | -0.43 | -0.63 | -0.61 | -0.88 | -0.76 |
| Tax % | 0 | 25 | 0 | 24.39 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 0.01 | 0.03 | 0.02 | -0.51 | -0.23 | -0.44 | -0.63 | -0.61 | -0.88 | -0.74 |
| EPS in Rs | 0.01 | 0.02 | 0.01 | -0.23 | -0.1 | -0.2 | -0.28 | -0.27 | -0.39 | -0.34 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 13.49 | 13.49 | 22.37 | 22.37 | 22.37 | 22.37 | 22.37 | 22.37 | 22.37 | 22.37 |
| Reserves | 42.32 | 42.35 | 43.48 | 42.66 | 42.43 | 42 | 41.37 | 40.76 | 39.88 | 39.65 |
| Borrowings | 42.97 | 53.58 | 58.28 | 59.33 | 60.12 | 60.82 | 82.04 | 80.75 | 77.02 | 74.74 |
| Other Liabilities | 15.63 | 18.1 | 11.2 | 19.45 | 25.93 | 33.11 | 17.06 | 21.16 | 34.2 | 36.96 |
| Total Liabilities | 114.41 | 127.52 | 135.33 | 143.81 | 150.85 | 158.3 | 162.84 | 165.04 | 173.47 | 173.72 |
| Fixed Assets | 56.27 | 56.87 | 56.73 | 56.58 | 56.44 | 56.3 | 56.15 | 56.02 | 55.88 | 55.95 |
| CWIP | 54.41 | 67.33 | 74.91 | 84.22 | 91.78 | 99.35 | 102.73 | 103.23 | 104.14 | 104.15 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Other Assets | 3.72 | 3.31 | 3.68 | 3 | 2.62 | 2.64 | 3.95 | 5.78 | 13.44 | 13.61 |
| Total Assets | 114.41 | 127.52 | 135.33 | 143.81 | 150.85 | 158.3 | 162.84 | 165.04 | 173.47 | 173.72 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.81 | 7.64 | 0.96 | 2 | 7.09 | 0.12 | 0 | 3.15 | 4.05 | 3.82 |
| Cash from Investing Activity | -27.76 | -13.97 | -13.56 | -7.74 | -9.18 | -7.52 | -0.83 | -2.41 | -0.71 | -1.5 |
| Cash from Financing Activity | 26.18 | 7.37 | 11.76 | 5.6 | 2.31 | 7.25 | 0.84 | 0.01 | -1.97 | -2.46 |
| Net Cash Flow | -0.77 | 1.04 | -0.83 | -0.13 | 0.21 | -0.14 | 0.01 | 0.75 | 1.37 | -0.14 |
| Free Cash Flow | -26.95 | -5.28 | -12.62 | -5.58 | 7.09 | 0.12 | 0 | 3.15 | 4.05 | 3.82 |
| CFO/OP | -1214 | 15300 | 282 | 588 | -2479 | -120 | 0 | -643 | -862 | -531 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 2607.14 | 237.25 | 116.04 | 10.86 | 20.03 | 62.43 | 1414.38 | 5256 | 12629 |
| Inventory Days | — | — | — | — | 85.66 | 25.7 | 49.77 | 121.67 | 52.14 | 91.25 |
| Days Payable | — | — | — | — | 815.66 | 1089.86 | 3567.05 | 24941.67 | 6413.57 | 11406.25 |
| Cash Conversion Cycle | — | 2607.14 | 237.25 | 116.04 | -719.14 | -1044.12 | -3454.84 | -23405.62 | -1105.43 | 1314 |
| Working Capital Days | — | -18406.43 | -1338.33 | -1278.55 | -14778.15 | -16785.55 | -39468.03 | -398351.88 | -656708 | -680725 |
| ROCE % | 0.75 | 0.02 | 0.27 | 0.18 | -0.31 | -0.15 | -0.32 | -0.46 | -0.41 | -0.6 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 39.25% | 53.6% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% |
| Government | 0% | 0% | 0% | 0% | 0.04% | 0.02% | 0% | 0% |
| Public | 60.75% | 46.4% | 48.18% | 48.18% | 48.14% | 48.16% | 48.18% | 48.18% |
| No. of Shareholders | 2871 | 3042 | 2996 | 2927 | 2931 | 3713 | 3899 | 4704 |

### Quarterly

| Category | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% | 51.82% |
| Government | 0.04% | 0.02% | 0.02% | 0.02% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 48.14% | 48.16% | 48.16% | 48.16% | 48.18% | 48.18% | 48.18% | 48.18% | 48.2% | 48.18% | 48.18% | 48.18% |
| No. of Shareholders | 2999 | 3015 | 3198 | 3713 | 4191 | 4112 | 3985 | 3899 | 3781 | 3939 | 3973 | 4704 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 5.56 | Sell |
| EMA (10) | 5.5 | Sell |
| SMA (20) | 5.68 | Sell |
| EMA (20) | 5.76 | Sell |
| SMA (50) | 6.97 | Sell |
| EMA (50) | 6.7 | Sell |
| SMA (100) | 8.24 | Sell |
| EMA (100) | 7.67 | Sell |
| SMA (200) | 8.93 | Sell |
| EMA (200) | 8.51 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 37.73 | Neutral |
| MACD (12,26,9) | -0.4 | Buy |
| Stochastic (14,3,3) | 20.02 | Neutral |
| ADX (14) | 14.91 | Neutral |
| Williams %R (14) | -75.45 | Neutral |
| ATR (14) | 0.4 | High Volatility |
| ROC (12) | -9.69 | Sell |
| Stoch RSI (14) | 17.01 | Buy |
| UO (7,14,28) | 42.73 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 May 2024 - Indian Bank initiates insolvency proceedings against Polo Hotels Limited. | [Corporate Insolvency Resolution Process (CIRP)-Admission of application by Tribunal 8 May 2024 - Indian Bank initiates insolvency proceedings against Polo Hotels Limited.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=812d9f72-af45-4893-9bae-904f3a2151ac.pdf) |
| 8 May 2024 - Indian Bank initiates insolvency proceedings against Polo Hotels Limited. | [Corporate Insolvency Resolution Process (CIRP)-Admission of application by Tribunal 8 May 2024 - Indian Bank initiates insolvency proceedings against Polo Hotels Limited.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/812d9f72-af45-4893-9bae-904f3a2151ac.pdf) |
| 30 Apr 2024 - Certificate for half year ended on 31.03.2024 certifying all share certificates have been issued within 30 days of the date of lodgement for transfer, sub … | [Compliance Certificate Under Reg 40(10) 30 Apr 2024 - Certificate for half year ended on 31.03.2024 certifying all share certificates have been issued within 30 days of the date of lodgement for transfer, sub …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5989a1d3-9632-42a2-aa9c-cc595bbc6b8f.pdf) |
| 30 Apr 2024 - Certificate for half year ended on 31.03.2024 certifying all share certificates have been issued within 30 days of the date of lodgement for transfer, sub … | [Compliance Certificate Under Reg 40(10) 30 Apr 2024 - Certificate for half year ended on 31.03.2024 certifying all share certificates have been issued within 30 days of the date of lodgement for transfer, sub …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5989a1d3-9632-42a2-aa9c-cc595bbc6b8f.pdf) |
| 12 Feb - Eternal Limited has filed with exchange extract of newspaper publications | [Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Feb - Eternal Limited has filed with exchange extract of newspaper publications](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b28024bb-96f6-4370-ab9f-9a24b21f9de4.pdf) |
| 11 Feb - Eternal (formerly Zomato) launched AI-powered hotline to simplify delivery partner onboarding; clarified non-material on Feb 11, 2026. | [Rumour verification - Regulation 30(11) 11 Feb - Eternal (formerly Zomato) launched AI-powered hotline to simplify delivery partner onboarding; clarified non-material on Feb 11, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/45475b4a-f539-4ba3-a932-ce5a10e31ed0.pdf) |
| 11 Feb - Deepinder Goyal to step down as CEO; Albinder Dhindsa named CEO; four IDs reappointed with INR1cr p.a. | [Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 11 Feb - Deepinder Goyal to step down as CEO; Albinder Dhindsa named CEO; four IDs reappointed with INR1cr p.a.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3cc1b95f-62c0-46cb-90c3-67843b7e2ce6.pdf) |
| 10 Feb 2024 - No deviation in IPO fund utilization for Q4 2023. | [Compliance For The Quarter Ended On December 31, 2023. 10 Feb 2024 - No deviation in IPO fund utilization for Q4 2023.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a8980ed4-7502-462b-aff8-d09862b878c5.pdf) |
| 10 Feb 2024 - No deviation in IPO fund utilization for Q4 2023. | [Compliance For The Quarter Ended On December 31, 2023. 10 Feb 2024 - No deviation in IPO fund utilization for Q4 2023.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a8980ed4-7502-462b-aff8-d09862b878c5.pdf) |
| 10 Feb - Postal ballot: reappoint four independent directors; appoint Deepinder Goyal Vice Chairman; terms start Mar/Apr 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 10 Feb - Postal ballot: reappoint four independent directors; appoint Deepinder Goyal Vice Chairman; terms start Mar/Apr 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7780233a-4bab-469b-8a72-d0501fa0ed90.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/69f3f58b-c856-4abf-9548-ab8c8f1a398e.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1fa70027-f7ff-4155-91f7-22090d508904.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ab4d167b-7e75-4bf8-a51d-71a903cd7870.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e836f935-4e9f-407d-8310-30b3adee3446.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/33ef27d3-1271-48fa-9ab9-89c6f96c833b.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4ed3b05b-a659-4d40-be87-d82a802b4c98.pdf) |
| May 2023 | [Concall - May 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ad64f987-2b66-4f48-b34a-27830808808c.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e8befb4f-c985-4ce2-bb3e-e24876afa9b0.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7a528517-1eca-4556-8423-87220bf57373.pdf) |
| Jan 2026 | [Concall - Jan 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/91f3f29f-c5c0-49b5-b425-a22374bf08ad.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2022 from nse](https://archives.nseindia.com/annual_reports/AR_20633_ZOMATO_2021_2022_05082022205138_08052022210007.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2687a83-7148-436f-9c29-f2d06f912134.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/629bfe24-4e55-4b14-957e-8c8bc5828ff0.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0e0e9b68-2d04-41bf-9f59-fb539e330baf.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/543320/74160543320.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/526687/5266870317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/526687/5266870316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/526687/5266870315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/526687/5266870314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2013/POLO_HOTELS_LTD-526687-MARCH-2013.PDF) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:46.902Z.