Lemon Tree Hotels Ltd logo

Lemon Tree Hotels Ltd

LEMONTREE NSE

Key Fundamentals

MicrocapHotels & ResortsLeisure Services
Market Cap
₹8,580 Cr
Volatility
Moderate
P/E Ratio
36.83
EBITDA
₹657 Cr
Return on Equity
13.59%
Debt to Equity
1.44
Book Value
₹17.57
EPS
₹1.83
52W High
₹180.68
52W Low
₹99.61

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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51 extracted metrics + investor summaries across FY05–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has delivered good profit growth of 31.6% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 6.24 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 22.3%

Growth Rate

Revenue Growth
11.20% ↗
Net Income Growth
28.45% ↗
Cash Flow Change
16.47% ↗
ROE
15.66% ↗
ROCE
17.58% ↗
EBITDA Margin (Avg.)
-9.22% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

Lemon Tree Hotels Ltd trades at a market cap of ₹8,694 Cr with a PE of 30x and PB of 6.22x. The company has demonstrated strong profit growth (29% CAGR over 3 years) and improving ROE (19% last year), but the stock has declined 27% over the past year and pays no dividend despite consistent profitability.

Bull Case 8
  • Strong compounded profit growth of 29% CAGR over the last 3 years, indicating robust earnings expansion
  • 5-year compounded profit growth of 32% CAGR demonstrates sustained long-term earnings momentum
  • ROE has improved from 6% (10-year average) to 19% in the last year, showing significant improvement in capital efficiency
  • TTM sales growth of 12% indicates continued topline expansion even on a larger revenue base
  • 5-year compounded sales CAGR of 42% reflects strong post-pandemic demand recovery and capacity additions
  • 3-year ROE of 18% is well above the 10-year average of 6%, suggesting a structural improvement in profitability
  • TTM profit growth of 26% continues to outpace revenue growth of 12%, indicating margin expansion
  • 5-year stock CAGR of 22% shows the market has rewarded the company's operational turnaround over the medium term
Bear Case 8
  • Stock has declined 27% over the past 1 year, reflecting significant near-term de-rating or earnings concern
  • Trading at 6.22x book value is expensive and leaves limited margin of safety if growth slows
  • Promoter holding is low at 22.3%, which raises corporate governance and alignment concerns
  • Zero dividend yield despite reporting repeated profits suggests limited shareholder return policy
  • PE ratio of 30x is demanding and prices in continued high growth with little room for execution misses
  • 10-year sales CAGR of 15% versus 5-year CAGR of 42% highlights that much of the recent growth was pandemic recovery rather than normalized expansion
  • 10-year ROE average of just 6% shows the business historically struggled to generate adequate returns on equity
  • 3-year stock CAGR of only 4% versus 3-year profit CAGR of 29% suggests the market is compressing valuation multiples

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Positives 5
  • Keys Prima opens in Mussoorie Jul 30

    Opened 47-room Keys Prima in Mussoorie, bringing Uttarakhand portfolio to 10 hotels. Managed by subsidiary Carnation Hotels.

  • Two new signings Nepal & Vijayawada Jul 29

    Signed license agreements in Siddharthanagar, Nepal and Vijayawada, expanding to 8 properties in Nepal and 11 in Andhra Pradesh.

  • Keys Select signed in Ujjain Jul 28

    Signed 51-room property in Ujjain, Madhya Pradesh, bringing state portfolio to 15 hotels.

  • Aurika Delhi LOA extended to 2027 Jul 24

    Subsidiary Fleur Hotels extended DDA Letter of Award for Nehru Place 5-star project until August 14, 2027, ensuring project continuity.

  • Jorhat 70-room property signed Jul 14

    Signed license agreement for 70-room Lemon Tree Hotel in Jorhat, Assam, managed by Carnation Hotels.

Neutral 2
  • Q1 board meeting set Aug 7 Jul 31

    Board meeting scheduled for August 7 to review Q1 financial results. No financial details disclosed.

  • Hubli hotel agreement terminated Jul 10

    Terminated Hotel Operating Agreement for Lemon Tree Hotel, Hubli due to material breach. No material financial impact reported.

TL;DR: Lemon Tree Hotels is in aggressive expansion mode, signing four new properties and opening one in the span of three weeks across India and Nepal. The Aurika Delhi 5-star project timeline remains intact with the LOA extended to Aug 2027. No financial or demand-side headwinds are visible in recent news, though Q1 results on Aug 7 will provide clarity on operational performance. The expansion trend is clearly accelerating.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
224
227
290
327
268
284
355
379
316
306
406
416
345
Expenses
118
125
149
156
153
154
171
175
176
176
201
202
195
Operating Profit
106
102
141
171
115
131
184
203
140
131
205
215
149
OPM %
47%
45%
49%
52%
43%
46%
52%
54%
44%
43%
50%
52%
43%
Other Income
1
3
1
4
0
1
1
1
2
2
-30
1
2
Interest
48
47
53
53
52
51
50
47
45
42
41
39
36
Depreciation
23
23
33
33
35
35
35
35
34
34
35
35
36
PBT
36
35
56
89
29
45
100
122
63
56
99
142
79
Tax %
24%
25%
21%
6%
31%
23%
20%
12%
23%
25%
17%
18%
28%
Net Profit
28
26
44
84
20
35
80
108
48
42
82
116
57
EPS in Rs
0.3
0.29
0.45
0.85
0.25
0.37
0.79
1.07
0.48
0.44
0.79
1.15
0.58
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
290
368
412
484
550
669
252
402
875
1,071
1,286
1,444
1,473
Expenses
239
268
295
348
381
429
194
283
427
548
652
754
774
Operating Profit
51
100
117
136
169
241
57
119
448
523
634
690
699
OPM %
18%
27%
28%
28%
31%
36%
23%
30%
51%
49%
49%
48%
47%
Other Income
13
5
12
13
15
11
22
22
10
13
13
-25
-25
Interest
72
72
78
78
85
162
190
181
182
208
211
167
159
Depreciation
52
52
51
53
54
92
108
104
97
112
139
139
141
PBT
-60
-19
0
18
45
-2
-219
-145
178
216
296
359
375
Tax %
5%
35%
1452%
21%
-25%
499%
-15%
-5%
21%
16%
18%
20%
—
Net Profit
-63
-26
-5
15
56
-13
-187
-137
141
182
243
288
298
EPS in Rs
-0.81
-0.35
-0.08
0.18
0.67
-0.12
-1.6
-1.1
1.45
1.87
2.48
2.87
2.96
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
776
778
781
786
789
790
790
791
792
792
792
792
Reserves
34
30
27
28
86
199
127
40
62
175
372
600
Borrowings
571
625
799
1,011
1,196
2,017
2,159
2,128
2,177
2,336
2,148
2,004
Other Liabilities
515
572
604
632
701
756
738
674
698
725
763
889
Total Liabilities
1,896
2,004
2,212
2,458
2,772
3,763
3,815
3,633
3,729
4,028
4,075
4,285
Fixed Assets
1,236
1,231
1,418
1,460
1,604
3,307
3,194
3,051
2,957
3,641
3,556
3,563
CWIP
167
259
351
559
664
190
242
297
482
25
59
108
Investments
31
6
6
15
35
14
6
10
6
13
45
73
Other Assets
462
508
436
425
469
252
374
276
284
348
415
540
Total Assets
1,896
2,004
2,212
2,458
2,772
3,763
3,815
3,633
3,729
4,028
4,075
4,285
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-51
68
122
115
187
151
41
135
385
465
542
542
Investing
-150
-103
-229
-260
-289
-598
-66
-45
-283
-397
-127
-169
Financing
159
18
111
149
113
457
111
-163
-132
-59
-392
-370
Net Cash Flow
-42
-16
4
3
10
9
87
-73
-31
10
22
3
Free Cash Flow
-213
-64
-108
-128
-93
-482
-23
69
223
134
448
406
CFO/OP
-74
80
108
86
119
63
55
115
91
96
93
85
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
23
24
28
40
56
27
45
26
23
24
22
29
Inventory Days
62
62
57
49
48
57
154
112
—
—
—
59
Days Payable
429
599
692
739
768
584
1,648
807
—
—
—
289
Cash Conversion Cycle
-344
-513
-608
-650
-664
-500
-1,450
-668
23
24
22
-200
Working Capital Days
-61
-169
-173
-108
-103
-109
-302
-166
-110
-73
-48
-6
ROCE %
—
3%
4%
5%
5%
5%
-1%
1%
10%
11%
13%
14%

Shareholding Pattern

As of Jun 2026
Public 23.76%
Promoters 22.32%
Others 20.13%
FIIs 19.45%
DIIs 14.35%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
25.88%
25.88%
25.88%
25.88%
23.95%
23.93%
23.61%
23.61%
23.61%
23.60%
23.28%
23.21%
22.88%
22.80%
22.77%
22.77%
22.34%
22.28%
22.28%
22.28%
22.32%
22.32%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
24.82%
0.00%
27.09%
27.61%
21.75%
20.01%
20.90%
21.33%
21.45%
21.50%
21.60%
19.45%
DIIs
15.34%
14.20%
14.09%
13.34%
12.02%
11.03%
10.39%
10.14%
10.64%
10.38%
13.41%
14.76%
15.35%
15.20%
18.91%
20.80%
19.69%
19.98%
19.71%
19.46%
15.67%
14.35%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
11.61%
13.30%
14.68%
14.51%
12.54%
13.99%
14.90%
16.31%
17.86%
17.24%
15.47%
15.81%
15.63%
15.27%
17.47%
16.59%
17.11%
17.14%
17.05%
17.23%
20.48%
23.76%
Others
47.18%
46.62%
45.36%
46.28%
51.49%
51.05%
51.10%
49.94%
47.89%
48.78%
23.01%
46.22%
19.05%
19.12%
19.10%
19.84%
19.96%
19.27%
19.52%
19.53%
19.94%
20.13%
No. of Shareholders
96,628
1,36,055
1,47,976
1,83,512
1,72,459
1,84,935
1,95,818
2,24,156
2,44,336
2,58,070
2,81,003
2,98,123
3,25,800
3,30,910
3,57,968
3,55,134
3,67,528
3,64,251
3,68,811
3,68,933
3,99,213
4,22,447

Documents

1
Concall - Jun 2018 Jun 2018
2
Concall - Sep 2019 Sep 2019
3
Concall - Sep 2019 Sep 2019
4
Concall - Sep 2019 Sep 2019
5
Concall - Sep 2019 Sep 2019

Frequently Asked Questions about Lemon Tree Hotels Ltd

What does Lemon Tree Hotels Ltd do?
Lemon Tree Hotels Ltd is largest mid-priced and the third largest overall hotel chain in India. It operate in the upscale segment and in the mid-priced sector, consisting of the upper-midscale, midscale and economy segments. It delivers differentiated yet superior service offerings, with a value-...
Where is Lemon Tree Hotels Ltd (LEMONTREE) listed?
Lemon Tree Hotels Ltd is listed on the Indian stock exchanges. It is listed on NSE: LEMONTREE and BSE: 541233. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Lemon Tree Hotels Ltd belong to?
Lemon Tree Hotels Ltd operates in the Leisure Services sector within the Hotels & Resorts industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Lemon Tree Hotels Ltd?
Lemon Tree Hotels Ltd has a market capitalisation of approximately ₹8580.03 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Lemon Tree Hotels Ltd?
The Price-to-Earnings (PE) ratio of Lemon Tree Hotels Ltd is 36.83. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Lemon Tree Hotels Ltd?
Over the past 52 weeks, Lemon Tree Hotels Ltd has traded between a low of ₹99.61 and a high of ₹180.68. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Lemon Tree Hotels Ltd?
Lemon Tree Hotels Ltd has a Return on Equity (ROE) of 13.59%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Lemon Tree Hotels Ltd on Tapetide?
On Tapetide, you can view Lemon Tree Hotels Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Lemon Tree Hotels Ltd is largest mid-priced and the third largest overall hotel chain in India. It operate in the upscale segment and in the mid-priced sector, consisting of the upper-midscale, midscale and economy segments. It delivers differentiated yet superior service offerings, with a value-for-money proposition.[1]

Website lemontreehotels.com
CEO Mr. Patanjali Govind Keswani
Employees 5,621
Listed 2018-04-09
Face Value ₹ 10
Issued Size 79,22,46,464

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