BSE: 541973
Mac Hotels Limited
Operates a small hotel business headquartered in Caranzalem, Panaji, Goa. In FY26, total revenue reached ₹457.73 lakhs, up about 23% from ₹371.66 lakhs in FY25, while profit after tax grew roughly 21% to ₹33.41 lakhs from ₹27.52 lakhs. Employee costs absorb 18% of revenue and other operating expenses 22%, with materials at just 2.9% of revenue. The company invested heavily in fixed assets — capex of ₹525.33 lakhs in FY26 amounted to 114.8% of revenue — funded largely by a jump in long-term borrowings from ₹76.27 lakhs to ₹489.66 lakhs, while cash reserves fell from ₹559.94 lakhs to ₹46.66 lakhs. Beyond the hotel business, the board has provisionally approved acquiring ~25% of Herald Technocraft Private Limited, a chemicals company with FY25 turnover of ~₹1.13 crore, and proposes amending its main objects to add diamonds, chemicals and pharmaceuticals. Recent capital raises included a preferential allotment of 7,25,133 equity shares at ₹45 each (raising ₹3.26 crore) and 45,91,903 convertible warrants. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Hospitality / Hotel operations. Small, capital-intensive hospitality company pursuing diversification
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 5 | 6 | 4 | 5 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | (0.78) | (0.25) | 1.05 | 0.50 | 0.59 |
| ROE % · ROCE % | — · (99.4) | — · 22.6 | — · 27.2 | — · 4.5 | — · 4.1 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 1 | 1 | 1 | (4) | (4) |
| Capex | — | — | — | (1) | (5) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 3 | 2 | 3 | 1 | 2 | 2 | 2 |
| Profit before tax | (1) | 1 | (1) | 1 | 0 | 0 | 1 | (0) |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | (3.09) | 2.84 | (3.11) | 4.16 | 0.84 | 0.09 | 0.82 | 0.23 |
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 | 1,14,612 | 53.4 | 7.67 | 30.4 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 34,265 | 39.5 | 2.93 | 22.3 | 7.0 | 9.0 | — | 37.5 |
| LEELA PALACES HOTEL LTD | 20,355 | 33.6 | 3.15 | 27.0 | 6.2 | 5.9 | — | 43.2 |
| EIH LIMITED | 18,260 | 25.7 | 3.38 | 17.1 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 17,481 | 33.1 | 4.73 | 16.0 | 17.4 | 13.6 | 56.6 | 45.5 |
| VENTIVE HOSPITALITY LTD | 12,684 | 26.4 | 1.88 | 11.2 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,500 | 36.1 | 4.09 | 15.7 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,172 | 63.1 | 12.59 | 42.2 | 20.0 | 26.6 | 24.7 | 17.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.3 | 25.7 | 42 of 57 | 27% |
| ROCE | 2.5 | 4.9 | 41 of 65 | 38% |
| Revenue growth | (27.7) | 7.6 | 53 of 58 | 9% |
| Market cap | 43 | 246 | 48 of 66 | 28% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Regulation 74(5) certificate for quarter ended September 2026 | compliance | minimal | — | — |
| 3 Oct 2026 · 36th AGM voting results - both resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Mac Hotels 36th AGM held on Sept 30, 2026, two resolutions considered | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closure from Oct 1, 2026 for H2 FY26 results | compliance | minimal | — | — |
| 5 Sept 2026 · Mac Hotels FY26 Annual Report: Revenue up 23%, PAT Rs 33.41L | results | high | — | — |
| 5 Sept 2026 · Notice of 36th AGM of Mac Hotels on 30 September 2026 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Mac Hotels book closure for AGM on 30 September 2026 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Mac Hotels sets 36th AGM on Sep 30; e-voting Sep 26-29 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · BSE seeks clarification on price movement; company confirms compliance | regulatory legal | medium | — | — |
| 27 Aug 2026 · BSE seeks clarification from Mac Hotels on price movement | regulatory legal | medium | — | — |
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.