BSE: 507960
GUJARAT HOTELS LTD.
Classified under Hotels & Resorts, this BSE-listed entity earns revenue from hospitality operations alongside a sizable stream of other income. For FY26, total revenue was Rs 4.62 crore while profit after tax was Rs 5.66 crore, and total assets stood at Rs 57.08 crore. The gap between profit and operating revenue is visible in the quarterly numbers as well: in Q3 FY26, revenue from operations was Rs 127.95 lakhs against a PAT of Rs 149.18 lakhs, and for the nine months ended December 2025, revenue from operations was Rs 300.41 lakhs against a PAT of Rs 408.49 lakhs. Q1 FY27 revenue from operations grew about 17.5% year-on-year to Rs 94.91 lakhs. The cost structure shows no materials cost, with employee costs at 5.8% of revenue, other operating expenses at 5.6%, and depreciation at 1.0%, pointing to a property or asset-owner style of operation rather than a high-volume hospitality chain. Capital expenditure was nil as a share of FY26 revenue, and the board has recommended a final dividend of Rs 3 per equity share for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hotels & Resorts operations, Other income. Small, asset-heavy hotel entity where non-operating income exceeds hospitality revenue
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 4 | 3 | 4 | 5 |
| EBITDA (ex other income) | 2 | 3 | 3 | 4 | 4 |
| margin % | 82.3 | 88.6 | 87.4 | 88.8 | 88.6 |
| Owners' profit | 3 | 4 | 5 | 5 | 6 |
| EPS, as reported (₹) | 7.18 | 11.23 | 12.47 | 13.99 | 14.93 |
| ROE % · ROCE % | 7.4 · 8.3 | 10.6 · 12.4 | 10.7 · 12.8 | 10.9 · 13.6 | 10.7 · 12.8 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1 | 2 | 3 | 2 | 3 |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
| Profit before tax | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 |
| Net profit | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 |
| EPS (₹) | 4.33 | 4.45 | 3.71 | 3.14 | 3.94 | 4.15 | 3.88 | 3.16 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,26,398 | 57.2 | 8.02 | 39.5 | 4.9 | 5.6 | 43.8 | 28.4 |
| ITC HOTELS LIMITED | 36,286 | 38.8 | 3.08 | 25.5 | 3.3 | 4.2 | — | 32.0 |
| LEELA PALACES HOTEL LTD | 22,983 | 37.0 | 3.48 | 32.9 | 2.2 | 2.3 | — | 45.6 |
| EIH LIMITED | 19,448 | 27.3 | 3.60 | 18.8 | 12.2 | 14.9 | 42.7 | 25.3 |
| CHALET HOTELS LIMITED | 17,914 | 30.4 | 4.50 | 16.9 | 7.6 | 4.0 | 56.6 | 43.3 |
| VENTIVE HOSPITALITY LTD | 12,638 | 28.1 | 1.82 | 13.2 | 2.3 | 1.4 | — | 38.2 |
| LEMON TREE HOTELS LTD | 9,241 | 35.9 | 4.15 | 16.2 | 6.2 | 4.9 | 41.8 | 44.2 |
| INDIA TOUR. DEV. CO. LTD. | 5,412 | 66.0 | 13.17 | 58.6 | 20.0 | 26.6 | 24.7 | 9.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.0 | 25.5 | 16 of 58 | 74% |
| P/B | 1.3 | 1.6 | 22 of 56 | 62% |
| ROCE | 5.8 | 2.2 | 18 of 63 | 73% |
| ROE | 4.9 | 2.6 | 18 of 56 | 69% |
| Debt / Equity | 0.0 | 0.2 | 1 of 56 | 87% |
| EBITDA margin | 86.0 | 22.8 | 1 of 63 | 100% |
| Revenue growth | 6.2 | 10.6 | 36 of 59 | 40% |
| Profit growth | 0.7 | 17.5 | 34 of 57 | 41% |
| Market cap | 69 | 242 | 42 of 66 | 37% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Gujarat Hotels Q2 and H1 FY27 results: revenue up 11.5%, PAT at Rs 2.67 cr | results | high | — | — |
| 16 Oct 2026 · Gujarat Hotels Q2 and H1 FY26-27 Results: Revenue up 11.5%, PAT steady | results | high | — | — |
| 9 Oct 2026 · Gujarat Hotels board to consider Q2, H1 FY27 results on 16 Oct 2026 | results | low | — | — |
| 7 Oct 2026 · Notice on SEBI special window for physical share transfer and dematerialisation | compliance | minimal | — | — |
| 7 Oct 2026 · RTA certificate for Q2 FY27 dematerialization compliance | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closed Ahead of Q2 Results | compliance | minimal | — | — |
| 26 Aug 2026 · 44th AGM: All 4 resolutions passed; Rs.3 dividend declared | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Gujarat Hotels publishes notice of 44th AGM; meeting on 26 Aug 2026 | compliance | minimal | — | — |
| 3 Aug 2026 · Notice of 44th AGM to be held on 26 August 2026 | board shareholder meetings | low | — | — |
| 3 Aug 2026 · Annual Report and Accounts for FY ended March 2026 filed | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.