BSE: 540782
Sanghvi Brands Limited
Operates a branded hospitality and lifestyle business under the Hotels & Resorts classification, with operations spanning outlets and brand acquisitions funded through a public issue in November 2017 that raised Rs. 1896.12 lakhs. IPO proceeds were allocated across outlet and distribution expansion (Rs. 771.70 lakhs), brand acquisitions (Rs. 380.85 lakhs), marketing (Rs. 500 lakhs, fully utilised) and strategic investments (Rs. 100 lakhs). Two subsidiaries — Sanghvi Beauty and Salons and Sanghvi Fitness — extend the group into salon and fitness services, though the auditor flagged accumulated losses and negative net worth at both, with management viewing these as temporary disruptions. In FY26, consolidated revenue was Rs. 14.6143 crore, up 19.8% year-on-year, with a five-year revenue CAGR of 32.87% and ROCE of 25.26%. Costs are dominated by employees at 56.8% of revenue, with materials at 7.2% and other operating expenses at 24.6%. The equity is listed on the BSE SME Exchange. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Hospitality and resort operations, Beauty and salon services, Fitness services. Service-heavy, multi-brand hospitality and lifestyle business.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5 | 832 | 9 | 12 | 15 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.00 | (0.21) | 0.48 | 0.97 | 1.52 |
| ROE % · ROCE % | — · (63.3) | — · 9.5 | — · 13.5 | — · 18.8 | — · 25.3 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 4 | 317 | 0 | 1 | 2 |
| Capex | — | — | — | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY22 | Q4 FY22 | Q4 FY23 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 4 | 426 | 5 | 5 | 7 | 6 | 9 |
| Profit before tax | (2) | (0) | 0 | 0 | 0 | 1 | 1 | 1 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | (2.24) | (2.24) | (0.53) | (0.03) | 0.13 | 0.84 | 0.45 | 1.07 |
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) | 5.2 | 25.7 | 7 of 57 | 89% |
| ROCE | 24.8 | 4.9 | 6 of 65 | 92% |
| Revenue growth | 77.0 | 7.6 | 3 of 58 | 97% |
| Market cap | 13 | 246 | 62 of 66 | 6% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Board to review half-year results on November 3 | board shareholder meetings | low | — | — |
| 10 Oct 2026 · Routine demat compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 23 Sept 2026 · Trading window closure for half-yearly results | compliance | minimal | — | — |
| 19 Sept 2026 · All four resolutions passed at 16th AGM with strong majority | compliance | minimal | — | — |
| 18 Sept 2026 · Sanghvi Brands 16th AGM: 4 resolutions passed including new auditor | board shareholder meetings | low | — | — |
| 18 Sept 2026 · Sanghvi Brands 16th AGM: financials adopted, auditor and director appointed | board shareholder meetings | low | — | — |
| 18 Sept 2026 · Sanghvi Brands 16th AGM: Auditors appointed, financial statements approved | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Sanghvi Brands announces book closure from September 12 to 18 for 16th AGM | compliance | minimal | — | — |
| 7 Sept 2026 · Clarification on Price Movement - No Material Info Withheld | regulatory legal | medium | — | — |
| 7 Sept 2026 · BSE seeks clarification from Sanghvi Brands on price movement | compliance | 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.