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Lemon Tree Hotels Ltd.
(LEMONTREE)
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Rating:59Neutral
Price Target:
₹113.00
▲(3.43% Upside)
Action:Reiterated
Date:08/30/26
The score is driven primarily by solid improving fundamentals and strong current margins/cash generation, but is held back by still-elevated leverage for a cyclical lodging business. Technicals add additional pressure given a below-DMA setup and negative MACD, while valuation is also a headwind due to a relatively high P/E and no dividend yield data.
Positive Factors
Sustained Revenue and Profit Recovery
The recovery demonstrates stronger demand, operating scale and resilience after the downturn. A larger revenue base and sustained profitability can support future expansion, improve fixed-cost absorption and strengthen the company’s competitive position in Indian lodging.
Negative Factors
Elevated Leverage and Debt Exposure
Despite improving from earlier years, leverage remains high for a cyclical lodging operator. Debt obligations increase sensitivity to occupancy, room-rate and refinancing conditions, potentially limiting investment flexibility during weaker travel or economic periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Profit Recovery
The recovery demonstrates stronger demand, operating scale and resilience after the downturn. A larger revenue base and sustained profitability can support future expansion, improve fixed-cost absorption and strengthen the company’s competitive position in Indian lodging.
Read all positive factors
Lemon Tree Hotels Ltd. (LEMONTREE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹85.21B
Dividend YieldN/A
Average Volume (3M)364.33K
Price to Earnings (P/E)36.3
Beta (1Y)1.04
Revenue Growth10.46%
EPS Growth9.16%
CountryIN
Employees6,104
SectorGeneral
Sector StrengthN/A
IndustryTravel Lodging
Share Statistics
EPS (TTM)2.97
Shares Outstanding792,246,460
10 Day Avg. Volume177,078
30 Day Avg. Volume364,332
Financial Highlights & Ratios
PEG Ratio2.22
Price to Book (P/B)5.71
Price to Sales (P/S)5.50
P/FCF Ratio28.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.77
Revenue Forecast (FY)₹16.05B
Lemon Tree Hotels Ltd. Business Overview & Revenue Model
Company Description
Lemon Tree Hotels Limited is a hospitality company that manages and holds a portfolio of hotels catering to both business travelers and leisure guests. By May 12, 2022, its extensive network encompassed approximately 8,250 rooms across 84 properti...
How the Company Makes Money
Lemon Tree Hotels primarily makes money by operating hotels and earning revenue from guests and events, with earnings driven by occupancy, average room rates, and overall demand across its portfolio. Key revenue streams include: (1) Rooms revenue:...
Lemon Tree Hotels Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.75B | 14.45B | 12.88B | 10.73B | 8.76B | 4.03B |
| Gross Profit | 10.09B | 8.97B | 9.06B | 7.44B | 6.07B | 2.34B |
| EBITDA | 6.83B | 6.77B | 6.06B | 5.07B | 4.33B | 1.04B |
| Net Income | 2.35B | 2.27B | 1.97B | 1.48B | 1.15B | -874.34M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 42.85B | 40.82B | 40.33B | 37.32B | 36.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.64B | 1.64B | 1.19B | 620.67M | 284.76M | 602.33M |
| Total Debt | 0.00 | 20.04B | 21.48B | 23.36B | 21.77B | 21.28B |
| Total Liabilities | -20.79B | 22.06B | 22.91B | 24.87B | 23.19B | 22.36B |
| Stockholders Equity | 20.79B | 13.92B | 11.64B | 9.67B | 8.54B | 8.31B |
Cash Flow | ||||||
| Free Cash Flow | 1.84B | 2.78B | 2.88B | 1.34B | 2.23B | 677.50M |
| Operating Cash Flow | 2.34B | 4.17B | 3.84B | 4.65B | 3.85B | 1.35B |
| Investing Cash Flow | -729.60M | -1.72B | -1.29B | -3.97B | -2.83B | -454.43M |
| Financing Cash Flow | -1.78B | -2.42B | -2.33B | -585.27M | -1.32B | -1.63B |
Lemon Tree Hotels Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹18.28B | 20.59 | ― | 1.18% | -7.65% | -6.94% | |
69 Neutral | ₹1.05T | 49.35 | ― | 0.44% | 13.17% | 9.73% | |
59 Neutral | ₹85.21B | 36.34 | ― | ― | 10.46% | 9.16% | |
57 Neutral | ₹22.99B | 35.55 | ― | 0.70% | 10.04% | -35.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹35.49B | 6.44 | ― | ― | 11.15% | 408.85% | |
47 Neutral | ₹8.43B | 30.77 | ― | 0.81% | 26.86% | -43.98% |
* General Sector Average
IN:LEMONTREE
Lemon Tree Hotels Ltd.
107.85
-64.10
-37.28%
IN:EIHAHOTELS
EIH Associated Hotels Limited
297.35
-85.87
-22.41%
IN:INDHOTEL
Indian Hotels Co. Ltd.
743.00
0.11
0.01%
IN:PARKHOTELS
Apeejay Surrendra Park Hotels Ltd.
106.55
-44.43
-29.43%
IN:ROHLTD
Royal Orchid Hotels Limited
307.40
-233.63
-43.18%
IN:SAMHI
Samhi Hotels Limited
160.25
-43.20
-21.23%
Lemon Tree Hotels Ltd. Corporate Events
Lemon Tree Hotels Signs New Properties in Madurai and Mcleodganj
Aug 10, 2026
Lemon Tree Hotels is expanding its presence in Tamil Nadu and the wider South India market with new branded properties aimed at both business and leisure travellers. The company operates through its Carnation Hotels subsidiary, which manages a gro...
Lemon Tree Hotels Deepens Northeast Push with New Jorhat Property, Exits Dubai Brand Tie-Up
Jul 14, 2026
Lemon Tree Hotels Limited has signed a license agreement for a new Lemon Tree Hotel in Jorhat, Assam, which will be managed by its subsidiary Carnation Hotels Private Limited and marks the brand’s entry into the city and an expanded presence...
Lemon Tree Hotels Adds Two Maharashtra Resorts, Expands Western India Footprint
Jun 18, 2026
Lemon Tree Hotels has signed license agreements for two new resorts in Tadgaon and Igatpuri in Maharashtra, adding 200 rooms to its development pipeline and taking its state-wide network to 32 properties, of which 15 are operational and 17 are in ...
Lemon Tree Subsidiary Faces Rs 33.5 Lakh Service Tax Demand From Appellate Tribunal
Jun 3, 2026
Lemon Tree Hotels has disclosed that its material subsidiary, Fleur Hotels Limited, has received an order from the Customs, Excise and Service Tax Appellate Tribunal’s Hyderabad bench confirming a service tax demand of Rs 33.54 lakh, along w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.