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Viceroy Hotels Ltd
(VHLTD)
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Rating:50Neutral
Price Target:
₹143.00
▲(6.76% Upside)
Action:Reiterated
Date:08/21/26
The score is held back primarily by balance-sheet/cash-flow risk (volatile leverage and sharply negative FY2026 free cash flow) despite an improving operating turnaround. Technicals are also weak with the price below key moving averages and negative MACD, while valuation looks relatively expensive at ~35x earnings without dividend support.
Positive Factors
Strong Revenue Growth
FY2026 revenue growth of 37.8%, following steady gains in FY2024–FY2025, indicates sustained demand momentum rather than a single-period rebound. Continued top-line expansion can improve hotel utilization and operating leverage, supporting reinvestment and a stronger competitive position over the next several quarters.
Negative Factors
Volatile Leverage
Debt was roughly equal to equity in FY2026 and rose materially from FY2025, after earlier periods of very high leverage and negative equity. This volatile capital structure can increase financing costs, restrict strategic flexibility, and make the company more vulnerable to lodging downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
FY2026 revenue growth of 37.8%, following steady gains in FY2024–FY2025, indicates sustained demand momentum rather than a single-period rebound. Continued top-line expansion can improve hotel utilization and operating leverage, supporting reinvestment and a stronger competitive position over the next several quarters.
Read all positive factors
Viceroy Hotels Ltd (VHLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹10.97B
Dividend YieldN/A
Average Volume (3M)13.74K
Price to Earnings (P/E)42.4
Beta (1Y)0.33
Revenue Growth24.45%
EPS Growth-68.80%
CountryIN
Employees404
SectorGeneral
Sector StrengthN/A
IndustryTravel Lodging
Share Statistics
EPS (TTM)3.37
Shares Outstanding76,781,960
10 Day Avg. Volume13,084
30 Day Avg. Volume13,740
Financial Highlights & Ratios
PEG Ratio-0.63
Price to Book (P/B)3.28
Price to Sales (P/S)6.11
P/FCF Ratio-14.29
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)N/A
Revenue Forecast (FY)N/A
Viceroy Hotels Ltd Business Overview & Revenue Model
Company Description
Viceroy Hotels Limited is an Indian hospitality firm actively involved in the hotel industry. The company operates a diverse portfolio, including establishments under the Marriott brand that feature a convention center, guest accommodations, and f...
How the Company Makes Money
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Viceroy Hotels Ltd Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.63B | 1.43B | 1.37B | 1.31B | 1.20B | 524.40M |
| Gross Profit | 1.03B | 836.53M | 948.15M | 650.70M | 547.38M | 10.22M |
| EBITDA | 480.28M | 445.68M | 376.13M | 156.47M | 90.44M | -160.47M |
| Net Income | 227.88M | 183.16M | 779.93M | 23.88M | -549.00K | -263.08M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.57B | 3.12B | 3.27B | 3.52B | 3.81B |
| Cash, Cash Equivalents and Short-Term Investments | 194.23M | 194.23M | 468.49M | 304.38M | 128.08M | 29.09M |
| Total Debt | 0.00 | 2.64B | 522.58M | 1.79B | 5.12B | 6.34B |
| Total Liabilities | -2.67B | 2.90B | 672.35M | 2.60B | 7.97B | 8.26B |
| Stockholders Equity | 2.67B | 2.67B | 2.44B | 668.20M | -4.45B | -4.45B |
Cash Flow | ||||||
| Free Cash Flow | 305.83M | -612.61M | 142.43M | 100.03M | -232.73M | -65.94M |
| Operating Cash Flow | 353.00M | 618.24M | 323.11M | 181.13M | -232.73M | -65.88M |
| Investing Cash Flow | -264.71M | -2.13B | -735.32M | -149.38M | 438.89M | 47.78M |
| Financing Cash Flow | -49.48M | 2.04B | -828.94M | 144.55M | -107.17M | 37.91M |
Viceroy Hotels Ltd Technical Analysis
Positive
133.95
Price Trends
123.21
Positive
125.25
Positive
129.03
Positive
Market Momentum
3.55
Negative
71.72
Negative
80.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VHLTD, the sentiment is Positive. The current price of 133.95 is above the 20-day moving average (MA) of 128.30, above the 50-day MA of 123.21, and above the 200-day MA of 129.03, indicating a bullish trend. The MACD of 3.55 indicates Negative momentum. The RSI at 71.72 is Negative, neither overbought nor oversold. The STOCH value of 80.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VHLTD.
Viceroy Hotels Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹4.38B | 19.12 | ― | 3.83% | 2.40% | -9.04% | |
65 Neutral | ₹7.40B | 18.18 | ― | 2.04% | 5.96% | -17.59% | |
59 Neutral | ₹3.82B | 35.46 | ― | 1.07% | 21.16% | -19.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹10.97B | 42.40 | ― | ― | 24.45% | -68.80% | |
47 Neutral | ₹7.91B | 28.50 | ― | 0.87% | 26.86% | -43.98% | |
41 Neutral | ₹14.43B | -6.21 | ― | 0.71% | 6.77% | -152.62% |
* General Sector Average
IN:VHLTD
Viceroy Hotels Ltd
142.85
23.79
19.99%
IN:ADVANIHOTR
Advani Hotels & Resorts (India) Ltd.
47.41
-9.69
-16.96%
IN:ASIANHOTNR
Asian Hotels (North) Limited
338.55
6.35
1.91%
IN:KAMATHOTEL
Kamat Hotels (India) Ltd
250.95
-50.65
-16.79%
IN:ROHLTD
Royal Orchid Hotels Limited
288.30
-209.45
-42.08%
IN:SINCLAIR
Sinclairs Hotels Limited
74.55
-20.74
-21.76%
Viceroy Hotels Ltd Corporate Events
Viceroy Hotels Holds 61st AGM, Files Voting Results with Exchanges
Sep 10, 2026
Viceroy Hotels Limited convened its 61st Annual General Meeting on September 10, 2026, via video conferencing and other audio-visual means, in line with circulars from the Ministry of Corporate Affairs and SEBI. The meeting brought together the co...
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.