NSE: BYKE · BSE: 531373
THE BYKE HOSPITALITY LTD
Operates a chain of hotels and resorts under The Byke brand in the Indian leisure hospitality sector. In FY26 the business generated ₹106.685 crore in revenue and ₹6.70 crore in net profit, with EBITDA margin of 45.7%. The cost structure is dominated by depreciation at 28.2% of revenue and total assets of ₹344.06 crore, indicating a property-heavy operating model with significant owned or leased buildings and equipment. Staff costs at 16.3% of revenue point to a service-intensive model, while materials at 14.0% reflect the consumable inputs typical of hospitality operations. Other operating expenses make up a further 25.3% of revenue. Operating cash flow was ₹2,171.20 lakhs for the year, and capital expenditure ran at 15.1% of revenue. Anil Chothmal Patodia continues as Chairman and Managing Director, a position he has held since 2010, and was re-appointed for a further five-year term from August 1, 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospitality services. Asset-heavy, service-intensive hospitality with high fixed costs
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 93 | 114 | 84 | 97 | 107 |
| EBITDA (ex other income) | 23 | 40 | 35 | 37 | 47 |
| margin % | 25.0 | 34.8 | 41.9 | 38.2 | 44.3 |
| Owners' profit | (13) | 2 | 6 | 5 | 7 |
| EPS, as reported (₹) | (3.20) | 0.58 | 1.39 | 0.90 | 1.28 |
| ROE % · ROCE % | (8.2) · (2.5) | 1.4 · 5.3 | 2.8 · 4.5 | 2.0 · 4.4 | 2.9 · 6.0 |
| Debt / equity (x) | 0.17 | 0.15 | 0.05 | 0.04 | 0.07 |
| Cash from operations | 17 | 61 | 21 | 10 | 22 |
| Capex | (2) | (42) | (8) | (13) | (16) |
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 | 20 | 26 | 27 | 27 | 25 | 27 | 28 | 29 |
| Profit before tax | 0 | 1 | 1 | 2 | 1 | 2 | 2 | 2 |
| Net profit | 0 | 1 | 1 | 2 | 1 | 2 | 2 | 2 |
| EPS (₹) | 0.07 | 0.20 | 0.14 | 0.41 | 0.25 | 0.30 | 0.32 | 0.43 |
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) | 21.7 | 25.7 | 25 of 57 | 57% |
| P/B | 0.6 | 1.6 | 11 of 57 | 82% |
| ROCE | 2.2 | 4.9 | 42 of 65 | 36% |
| ROE | 2.9 | 6.3 | 37 of 57 | 36% |
| Debt / Equity | 0.1 | 0.2 | 19 of 57 | 68% |
| EBITDA margin | 44.8 | 29.5 | 14 of 58 | 77% |
| Revenue growth | 7.6 | 7.6 | 30 of 58 | 49% |
| Profit growth | 4.6 | 11.6 | 29 of 55 | 48% |
| Market cap | 148 | 246 | 39 of 66 | 42% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Compliance certificate filed for Q2 share dematerialization | compliance | minimal | — | — |
| 30 Sept 2026 · Revised AGM voting results: all three resolutions passed with strong support | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Byke Hospitality 36th AGM voting results: All resolutions approved with over 99.97 percent | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 26 Sept 2026 · 36th AGM concluded; 3 resolutions approved including MD re-appointment | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Book Closure and Cut-off Date for 36th AGM FY 2025-26 | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Corrigendum to 36th AGM Notice published in newspapers | compliance | minimal | — | — |
| 8 Sept 2026 · Corrigendum to 36th AGM notice published in newspapers | compliance | minimal | — | — |
| 7 Sept 2026 · Corrigendum to AGM Notice: Cut-off date revised for 36th AGM | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Newspaper notice for 36th AGM on September 26, 2026 | 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.