Leela Palaces Hotels & Resorts Ltd
Leela Palaces Hotels & Resorts Ltd
Leisure ServicesKey Fundamentals
SmallcapHotels & ResortsLeisure ServicesInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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34 extracted metrics + investor summaries across FY23–FY26.
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Technical Indicators
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
3- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
- Promoters have pledged 73.6% of their holding.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoLeela Palaces Hotels & Resorts is a luxury hospitality company with a market cap of approximately ₹17,266 crore, trading at a PE of 38.9x. The company delivered record FY26 results with operating revenue of ₹1,527 crore (up 15% YoY), operating EBITDA of ₹743 crore at a 49% margin, and PAT surging ~8.5x to ₹403 crore, though 73.6% of promoter holdings remain pledged and no dividends have been paid despite rising profitability.
- Revenue growing strongly with 3-year compounded sales CAGR of 21% and TTM sales growth of 19%, indicating sustained demand in the luxury hospitality segment
- FY26 operating EBITDA margin expanded to 49%, up 167 basis points YoY, reflecting strong pricing power and operating leverage in the luxury segment
- Profit after tax surged approximately 8.5x YoY to ₹403 crore in FY26, with 3-year compounded profit CAGR of 106%, showing a step-change in profitability
- RevPAR grew 20% in Q3 FY26 to ₹21,551, outperforming the India luxury segment by approximately 2.3x, demonstrating industry-leading pricing power
- Company has been actively reducing debt, improving balance sheet health with net debt-to-EBITDA at 1.6x as of recent reporting
- Brand ranked No. 2 Best Hotel Brand in the World by Travel + Leisure in 2026, with industry-leading Net Promoter Score of 86, well above Asia-Pacific luxury average
- Q4 FY26 PAT jumped 46% YoY to ₹171.7 crore on revenue of ₹488.4 crore, showing continued momentum even on a higher base
- Stock has delivered 19% CAGR over the past 1 year, reflecting improving market recognition of the turnaround story
- Promoters have pledged 73.6% of their holdings, creating significant risk of forced selling or loss of control in adverse market conditions
- PE ratio of 38.9x is elevated for a hospitality company and prices in substantial future growth, leaving limited margin of safety
- Zero dividend yield despite reporting record profits of ₹403 crore in FY26, suggesting cash is being retained without returning value to shareholders
- Company may be capitalizing interest costs, which could overstate reported profitability and asset values relative to true economic performance
- ROE of only 8% in the last year despite record profits indicates capital-intensive operations with modest returns on equity at a PB of 2.69x
- Q1 FY27 revenue fell 27% quarter-on-quarter to ₹352 crore, highlighting the inherent seasonality and cyclicality in luxury hospitality
- Limited long-term financial track record as a listed entity — 3-year, 5-year, and 10-year CAGR data for stock and ROE are largely unavailable, making it difficult to assess consistency
- Price-to-book of 2.69x combined with high promoter pledge creates a leveraged equity structure where book value support is uncertain
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 4h ago- Promoters pledge 55.91% stake Jul 30
Promoters pledged 18.67 crore shares (55.91% of capital) to secure a $500 million term loan facility for distributions and debt repayment. High promoter pledge levels increase risk in a market downturn.
- Q1FY27 profit surges 460% Aug 6
Net profit jumped 460% to ₹487.55M with 28% revenue growth and record 41% EBITDA margin. RevPAR grew 17% to ₹13,982, driven by domestic demand resilience and pricing power.
- ₹185Cr Ayodhya hotel investment Aug 10
Board approved ₹185 crore investment in subsidiary Buildminds via CCPS to fund a 5-star hotel in Ayodhya, deployed in tranches by FY29. Targets growing religious tourism market.
- FY30 EBITDA target reaffirmed Aug 6
Company reaffirmed its FY30 EBITDA target of INR 20 billion and signed a concession for a Tadoba resort, signaling continued expansion confidence.
- Investor meets Aug-Sep 2026 Aug 6
Scheduled investor meetings with Nirmal Bang, Ashwamedh, Jefferies, and attendance at Equirus India Growth Summit on Aug 13. Signals active engagement with institutional investors.
- Q1FY27 earnings call held Jul 31 Jul 28
Management discussed Q1FY27 results on July 31, 2026 at 5:00 PM IST via conference call.
TL;DR: Leela Palaces delivered an exceptional Q1FY27 with 460% profit growth, record margins, and strong RevPAR expansion driven by domestic luxury travel demand. The Ayodhya investment and Tadoba concession show a clear growth trajectory toward the FY30 EBITDA target of ₹20 billion. The key risk is the elevated 55.91% promoter pledge securing a $500M loan facility, which could pressure the stock if sentiment turns. Overall trend is strongly positive operationally, but leverage-related overhang warrants monitoring.
Quarterly Results
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 228 | 277 | 370 | 425 | 275 | 311 | 457 | 484 | 352 |
| Expenses | 162 | 163 | 184 | 198 | 173 | 175 | 222 | 219 | 224 |
| Operating Profit | 66 | 114 | 187 | 227 | 101 | 136 | 235 | 266 | 128 |
| OPM % | 29% | 41% | 50% | 53% | 37% | 44% | 51% | 55% | 36% |
| Other Income | 12 | 23 | 33 | 38 | 27 | 23 | 7 | 10 | 9 |
| Interest | 119 | 122 | 117 | 99 | 86 | 38 | 39 | 40 | 39 |
| Depreciation | 38 | 39 | 31 | 31 | 26 | 27 | 29 | 30 | 33 |
| PBT | -79 | -25 | 71 | 135 | 16 | 93 | 174 | 206 | 64 |
| Tax % | -5% | 107% | 21% | 13% | 45% | 20% | 15% | 17% | 24% |
| Net Profit | -75 | -51 | 56 | 117 | 9 | 75 | 148 | 172 | 49 |
| EPS in Rs | — | — | — | 4.25 | 0.26 | 2.24 | 4.43 | 5.14 | 1.46 |
Profit & Loss
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 860 | 1,171 | 1,301 | 1,527 | 1,604 |
| Expenses | 479 | 623 | 706 | 787 | 840 |
| Operating Profit | 381 | 548 | 595 | 740 | 764 |
| OPM % | 44% | 47% | 46% | 48% | 48% |
| Other Income | 43 | 55 | 106 | 64 | 48 |
| Interest | 360 | 436 | 459 | 203 | 157 |
| Depreciation | 125 | 148 | 140 | 113 | 119 |
| PBT | -61 | 19 | 102 | 488 | 537 |
| Tax % | 2% | 111% | 53% | 17% | — |
| Net Profit | -62 | -2 | 48 | 403 | 443 |
| EPS in Rs | — | — | 1.73 | 12.07 | 13.27 |
| Div. Payout % | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 20 | 20 | 276 | 334 |
| Reserves | -2,532 | -2,846 | 3,280 | 6,070 |
| Borrowings | 3,883 | 4,453 | 4,142 | 1,811 |
| Other Liabilities | 4,504 | 5,434 | 568 | 709 |
| Total Liabilities | 5,876 | 7,062 | 8,266 | 8,924 |
| Fixed Assets | 5,259 | 6,212 | 6,305 | 7,853 |
| CWIP | 27 | 39 | 131 | 229 |
| Investments | 0 | 0 | 14 | 0 |
| Other Assets | 589 | 811 | 1,816 | 841 |
| Total Assets | 5,876 | 7,062 | 8,266 | 8,924 |
Cash Flow
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Operating | 318 | 539 | 553 | 777 |
| Investing | -85 | -786 | -5,730 | -637 |
| Financing | -318 | 147 | 5,236 | -170 |
| Net Cash Flow | -84 | -100 | 59 | -31 |
| Free Cash Flow | 233 | 419 | 345 | -337 |
| CFO/OP | 86 | 104 | 95 | 111 |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 30 | 23 | 25 | 19 |
| Inventory Days | — | — | — | 112 |
| Days Payable | — | — | — | 258 |
| Cash Conversion Cycle | 30 | 23 | 25 | -128 |
| Working Capital Days | -65 | -1,666 | -76 | -66 |
| ROCE % | — | 30% | 12% | 9% |
Documents
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Company Information
Established in 2019, Schloss Bangalore Limited is a luxury hospitality company operating under "The Leela" brand in India.[1]