NSE: SAMHI · BSE: 543984
SAMHI HOTELS LIMITED
Owns and operates a portfolio of 38 hotels with over 6,500 rooms across 12 brands in 14 Indian cities, primarily under Marriott-family brands (Westin, W, Courtyard, Fairfield, Tribute, Sheraton), concentrated in micro-markets such as Bangalore's Outer Ring Road/Whitefield and Hyderabad HITEC City. The business earns revenue from room rentals, food and beverage and other hotel services; Q4 FY26 saw RevPAR of ₹6,041 at 75% occupancy, with same-store RevPAR up 9.5% for the full year. In FY26 it acquired a 70% stake in RARE India, adding 73 experiential leisure properties with around 1,000 rooms. The operating cost base is dominated by other operating expenses at 41.8% of revenue (covering lease, utilities, F&B and overheads) and employee costs at 15.7%, with depreciation at 10.2% of revenue and materials at 8.0%. The balance sheet is asset-heavy, with net debt of ₹1,450 crore (Net Debt/EBITDA of 3.0x). The committed 5-year pipeline covers W Hyderabad, Tribute Bangalore, Westin Bangalore, Ingka Noida, a 700-room Westin+Fairfield in Navi Mumbai, Marriott Sriperumbudur and One Financial District Hyderabad. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hotel operations (rooms, F&B, other hotel services), Experiential leisure (RARE India). Asset-heavy, branded hotel operator concentrating on upscale and upper-upscale business hotels in Tier-1 Indian micro-markets
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 957 | 1,130 | 1,248 |
| EBITDA (ex other income) | 193 | 387 | 539 |
| margin % | 20.2 | 34.2 | 43.2 |
| Owners' profit | (235) | 86 | 503 |
| EPS, as reported (₹) | (14.67) | 3.88 | 25.60 |
| ROE % · ROCE % | (22.6) · 3.7 | 7.5 · 8.7 | 24.8 · 11.0 |
| Debt / equity (x) | 2.00 | 1.86 | 0.75 |
| Cash from operations | 275 | 357 | 407 |
| Capex | (38) | (137) | (336) |
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 | 296 | 319 | 272 | 293 | 338 | 345 | 305 | 338 |
| Profit before tax | 22 | 23 | 26 | 122 | 55 | 69 | 33 | 57 |
| Net profit | 23 | 46 | 19 | 100 | 48 | 399 | 25 | 41 |
| EPS (₹) | 1.04 | 2.08 | 0.87 | 4.51 | 2.18 | 18.04 | 1.12 | 1.85 |
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) | 7.3 | 25.5 | 10 of 58 | 84% |
| P/B | 1.6 | 1.6 | 28 of 56 | 51% |
| ROCE | 2.2 | 2.2 | 32 of 63 | 50% |
| ROE | 2.8 | 2.6 | 28 of 56 | 51% |
| Debt / Equity | 0.7 | 0.2 | 43 of 56 | 24% |
| EBITDA margin | 35.3 | 22.8 | 11 of 63 | 84% |
| Revenue growth | 15.4 | 10.6 | 21 of 59 | 66% |
| Profit growth | (58.8) | 17.5 | 48 of 57 | 16% |
| Market cap | 3746 | 242 | 11 of 66 | 85% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · SAMHI Hotels publishes Q2 results; revenue up 16%, profit down 59% | compliance | minimal | — | — |
| 4 Nov 2026 · SAMHI Hotels shares audio recording of Q2 FY27 earnings call | investor communications | low | — | — |
| 3 Nov 2026 · SAMHI Hotels Q2 FY27: revenue up 15.6%, occupancy rises to 78.6% | compliance | minimal | — | — |
| 3 Nov 2026 · Q2 FY27 revenue rises 15.6%; 1,669-room pipeline extends to FY31 | investor communications | medium | — | — |
| 3 Nov 2026 · SAMHI Hotels publishes first sustainability report for FY2025-26 | general | low | — | — |
| 3 Nov 2026 · SAMHI Hotels guarantees Rs 70 crore ICICI loan for subsidiary | credit debt | medium | — | — |
| 3 Nov 2026 · Q2 FY27 consolidated revenue INR 338.07m versus year-ago INR 242.73m; after-tax loss INR 104.11m | results | high | — | — |
| 3 Nov 2026 · Quarterly revenue rises 56.8 percent, but consolidated profit after tax is a loss | results | high | — | — |
| 3 Nov 2026 · Fidelity funds raise Samhi Hotels stake to 7.16% | ownership changes | medium | — | — |
| 29 Oct 2026 · Samhi Hotels schedules Q2 and H1 FY27 earnings call | board shareholder meetings | low | — | — |
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.