BSE: 526640
ROYALE MANOR HOTELS & INDUSTRI
Operates a single-segment hotel business, with all revenue from hospitality services and the registered office in Ahmedabad. In FY26, revenue from operations was ₹2,240.57 lakhs, down 3.4% from ₹2,318.97 lakhs in FY25, and profit after tax fell to ₹239.19 lakhs from ₹310.23 lakhs. Quarterly revenue is volatile: Q2 FY26 came in at ₹441.41 lakhs (down about 12% YoY), Q3 FY26 at ₹657.50 lakhs (up about 8% YoY), and Q4 FY26 at ₹708.22 lakhs, reflecting the seasonal nature of the hotel business that management flags in its results disclosures. The largest cost lines are other operating expenses at 46.8% of revenue and employee costs at 25.5%, with materials at 12.1% and depreciation at 6.5%; capex was 26.6% of revenue. Operating cash flow turned positive at ₹805.54 lakhs in FY26 versus negative ₹211.14 lakhs in FY25, while total borrowings rose to ₹683.97 lakhs from ₹583.15 lakhs. EBITDA margin for FY26 was 24.39%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hotel business. Seasonal, single-segment hotel business with H1 typically weaker
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 14 | 22 | 23 | 23 | 22 |
| EBITDA (ex other income) | 2 | 6 | 6 | 4 | 3 |
| margin % | 17.6 | 26.0 | 24.5 | 17.7 | 15.6 |
| Owners' profit | 1 | 4 | 4 | 3 | 2 |
| EPS, as reported (₹) | 0.54 | 2.11 | 2.21 | 1.56 | 1.21 |
| ROE % · ROCE % | 2.0 · 4.4 | 7.3 · 10.4 | 7.2 · 10.2 | 5.1 · 7.5 | 3.8 · 6.0 |
| Debt / equity (x) | 0.19 | 0.18 | 0.15 | 0.10 | 0.11 |
| Cash from operations | (2) | 11 | 2 | 0 | 8 |
| Capex | (0) | (1) | (2) | (5) | (6) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 5 | 6 | 7 | 4 | 4 | 7 | 7 |
| Profit before tax | 0 | 1 | 1 | 2 | 0 | 0 | 1 | 2 |
| Net profit | 0 | 0 | 1 | 2 | 0 | 0 | 1 | 2 |
| EPS (₹) | 0.12 | 0.20 | 0.66 | 0.91 | 0.01 | 0.02 | 0.39 | 0.79 |
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 | 1,06,186 | 49.5 | 7.11 | 28.2 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 32,584 | 37.6 | 2.79 | 21.2 | 7.0 | 9.0 | — | 37.5 |
| EIH LIMITED | 19,195 | 27.0 | 3.55 | 18.0 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 18,833 | 35.6 | 5.09 | 17.1 | 17.4 | 13.6 | 56.6 | 45.5 |
| LEELA PALACES HOTEL LTD | 17,902 | 29.6 | 2.77 | 24.0 | 6.2 | 5.9 | — | 43.2 |
| VENTIVE HOSPITALITY LTD | 13,027 | 27.2 | 1.93 | 11.5 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,391 | 35.7 | 4.04 | 15.5 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,599 | 68.3 | 13.63 | 45.7 | 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) | 23.3 | 25.1 | 29 of 60 | 53% |
| P/B | 0.9 | 1.7 | 14 of 57 | 75% |
| ROCE | 4.9 | 4.9 | 33 of 65 | 50% |
| ROE | 3.8 | 6.4 | 37 of 59 | 38% |
| Debt / Equity | 0.1 | 0.2 | 25 of 59 | 59% |
| EBITDA margin | 40.8 | 29.5 | 17 of 58 | 72% |
| Revenue growth | (5.3) | 7.6 | 49 of 58 | 16% |
| Profit growth | (13.8) | 11.6 | 36 of 55 | 35% |
| Market cap | 56 | 258 | 45 of 66 | 32% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · AGM notice published: 35th AGM on September 28, 2026 via video conferencing | compliance | minimal | — | — |
| 5 Sept 2026 · 35th Annual Report for FY 2025-26 submitted to BSE | general | medium | — | — |
| 5 Sept 2026 · Notice of 35th AGM on September 28, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board approves Director's Report, 35th AGM on Sep 28 and Secretarial Auditor appointment | board shareholder meetings | medium | — | — |
| 13 Aug 2026 · Q1 FY27 results: revenue up, profit doubles on small base | results | medium | — | — |
| 13 Aug 2026 · Q1 FY27 net profit doubles to Rs 2.97 lakh on revenue growth | results | high | — | — |
| 13 Aug 2026 · Q1 FY27 Results: Revenue Up 14% YoY, PAT Doubles to 2.97 Lakhs | results | high | — | — |
| 6 Aug 2026 · Board meeting on Aug 13 2026 to consider Q1 FY27 results | results | low | — | — |
| 7 Jul 2026 · Quarterly compliance certificate under SEBI Reg 74(5) for Q1 FY27 | compliance | minimal | — | — |
| 25 Jun 2026 · Trading Window Closure from July 1, 2026 for Q1 FY27 Results | compliance | minimal | — | — |
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.