Results for quarter and year ended 31.03.2026
VHLTD · price
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Viceroy Hotels reported standalone revenue of ₹12,981.07 lakhs for FY26 vs ₹13,248.96 lakhs in FY25, a slight decline of about 2%. Profit after tax fell significantly to ₹1,806.83 lakhs from ₹7,640.58 lakhs in the previous year, primarily due to a large deferred tax benefit of ₹5,529.95 lakhs in FY25 that inflated prior year profits. The company completed acquisition of SLN Terminus Hotels & Resorts for ₹6,791.99 lakhs in December 2025, making it a wholly-owned subsidiary. Total borrowings increased sharply from ₹4,662.84 lakhs to ₹20,830.47 lakhs. Finance costs nearly doubled from ₹495.46 lakhs to ₹795.78 lakhs. Operating cash flow improved significantly to ₹4,776.97 lakhs from ₹872.40 lakhs. Auditors issued an unmodified (clean) opinion.
The significant PAT decline compared to FY25 (which had exceptional deferred tax gains) is expected, but the core business shows stability with positive operating cash flows. The sharp increase in debt levels raises concerns about leverage, though the SAFEMA legal victory removes a key uncertainty.