NSE: ROHLTD · BSE: 532699
ROYAL ORCHID HOTELS LTD
Operates a chain of hotels across India under the Royal Orchid, Iconiqa (premium), and Regenta brands, using a mix of directly-operated properties and asset-light management contracts, franchise agreements, and revenue-share deals. The current portfolio covers approximately 124 hotels and about 11,000 keys across 80 cities, including signed pipeline properties. Iconiqa Mumbai, the flagship owned property, operates at roughly 300 keys and recorded Q4 FY26 occupancy of 62%, recovering to 81% in April-May 2026. A 10-year licensing deal with Hilton targets 125 Hampton by Hilton hotels across 6 states, with first signings expected in FY27. The Regenta Hotels subsidiary runs the managed-contract business and contributed INR 55-56 crore of FY26 revenue and INR 20 crore of EBITDA. A 52-hotel signed pipeline (~3,600 rooms) sits behind these brands, with about 522 revenue-share keys expected to come on-stream during the year; the Vision 2030 plan targets 345 hotels and 22,000 keys. On the cost side, other operating expenses are 60.5% of revenue, employee costs 26.9%, and materials 9.0%. The balance sheet holds about INR 100 crore of cash against INR 91 crore of borrowings. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Directly-operated hotels, Management contracts, Franchise and licensing fees, Revenue-share and flexi-lease properties. Asset-light, brand-and-franchise-led Indian hotel chain with growing managed-contract portfolio
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 139 | 264 | 294 | 319 | 384 |
| EBITDA (ex other income) | 48 | 82 | 76 | 73 | 16 |
| margin % | 34.7 | 31.1 | 25.9 | 22.9 | 4.2 |
| Owners' profit | 29 | 47 | 48 | 47 | 32 |
| EPS, as reported (₹) | 10.71 | 17.15 | 17.68 | 17.23 | 11.74 |
| ROE % · ROCE % | 18.2 · 16.1 | 25.0 · 23.2 | 24.4 · 19.8 | 19.2 · 17.3 | 12.1 · 4.3 |
| Debt / equity (x) | 0.55 | 0.38 | 0.32 | 0.40 | 0.36 |
| Cash from operations | 22 | 56 | 59 | 25 | 82 |
| Capex | (1) | (11) | (12) | (23) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 70 | 89 | 87 | 79 | 79 | 113 | 113 | 107 |
| Profit before tax | 10 | 22 | 16 | 15 | 4 | 10 | 9 | 8 |
| Net profit | 8 | 18 | 13 | 11 | 4 | 10 | 8 | 7 |
| EPS (₹) | 2.73 | 6.49 | 4.79 | 3.99 | 1.56 | 3.29 | 2.90 | 2.34 |
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 | 1,01,296 | 47.2 | 6.78 | 26.9 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 32,182 | 37.1 | 2.75 | 20.9 | 7.0 | 9.0 | — | 37.5 |
| LEELA PALACES HOTEL LTD | 19,603 | 32.4 | 3.04 | 26.1 | 6.2 | 5.9 | — | 43.2 |
| EIH LIMITED | 18,198 | 25.6 | 3.36 | 17.0 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 18,067 | 34.2 | 4.89 | 16.5 | 17.4 | 13.6 | 56.6 | 45.5 |
| VENTIVE HOSPITALITY LTD | 13,125 | 27.4 | 1.94 | 11.5 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,710 | 37.0 | 4.19 | 16.0 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,635 | 68.7 | 13.71 | 46.0 | 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) | 29.0 | 27.3 | 31 of 57 | 46% |
| P/B | 2.9 | 1.7 | 41 of 57 | 29% |
| ROCE | 4.3 | 4.9 | 37 of 65 | 44% |
| ROE | 12.1 | 6.3 | 16 of 57 | 73% |
| Debt / Equity | 0.4 | 0.2 | 37 of 57 | 36% |
| EBITDA margin | 30.7 | 29.5 | 28 of 58 | 53% |
| Revenue growth | 36.1 | 7.6 | 6 of 58 | 91% |
| Profit growth | (39.3) | 11.6 | 39 of 55 | 30% |
| Market cap | 804 | 247 | 21 of 66 | 69% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · RTA certificate for dematerialisation of shares for Sep 2026 quarter | compliance | minimal | — | — |
| 5 Oct 2026 · Notice on re-lodgement of physical share transfer requests | compliance | minimal | — | — |
| 30 Sept 2026 · Royal Orchid Hotels launches new Regenta property in Bhadohi, UP | business updates | medium | — | — |
| 28 Sept 2026 · 40th AGM Results: All 4 Resolutions Passed, Rs 2.50 Final Dividend Declared | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Scrutinizer Report filed for 40th AGM, all four resolutions passed | compliance | minimal | — | — |
| 26 Sept 2026 · Royal Orchid Hotels 40th AGM held; dividend of Rs 2.5 per share, one audit qualification noted | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Royal Orchid Hotels closes trading window for insiders ahead of Q2 results | compliance | minimal | — | — |
| 24 Sept 2026 · Royal Orchid launches 43-key Regenta Place hotel in Baddi via subsidiary | business updates | medium | — | — |
| 23 Sept 2026 · Royal Orchid Hotels launches 117-room Regenta Hubballi in Karnataka | business updates | medium | — | — |
| 16 Sept 2026 · Royal Orchid Hotels launches Regenta Magnus Pune via subsidiary | business updates | 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.