Outcome of the Board Meeting held for 1. consideration and approval of the Audited Financial Results of the Company for the quarter and financial year ended on 31st March, 2026 along with ....
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Sayaji Hotels (Indore) Limited reported audited financial results for FY2026. Revenue from operations grew marginally to Rs 10,655.37 lakh from Rs 10,567.72 lakh, but profit before tax declined significantly to Rs 1,051.56 lakh from Rs 1,342.40 lakh (down 21.7%). Profit after tax fell to Rs 800.73 lakh from Rs 1,057.11 lakh (down 24.2%). EPS reduced to Rs 26.28 from Rs 34.70. The board also approved appointment of Deloitte and Abhinav Khandelwal & Associates as internal auditors for different units, and proposed increasing borrowing limits subject to shareholder approval. Total borrowings increased substantially to Rs 9,409.15 lakh in non-current liabilities from Rs 2,605.83 lakh. The auditor issued an emphasis of matter regarding ongoing lease litigation with Indore Development Authority (IDA) where the lease was cancelled in 2017, though the company continues on a going concern basis.
The significant decline in profitability despite stable revenue is concerning for shareholders. The company also faces ongoing legal uncertainty over its hotel property lease, which could impact operations. The substantial increase in borrowings indicates heavy debt-funded capex or expansion.