Asian Hotels (West) Ltd
AHLWESTAsian Hotels (West) Ltd's balance sheet is under water — net worth is negative, so it owes more than it owns. This is a distressed, high-risk situation — the equity can be wiped by dilution or restructuring before operations recover. Not a value setup.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 55th percentile of its own 8-year range. But the balance sheet is under water: net worth is negative, so shareholders sit behind everyone the company owes. What settles it: whether the business can earn its way back to positive equity before dilution or restructuring gets there first.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Asian Hotels (West) Ltd trades at ₹575, in a confirmed uptrend and 12 weeks into that stage. That is +50.0% against its own 200-day average. It sits at 80% of a 52-week range of ₹144 to ₹684. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).
Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹575 it trades +50.0% versus its 200-day average and sits at 80% of its 52-week range (₹144–₹684).
Against the market, two honest reads. Cumulative: over the last 10.2 years the stock moved +342% while the NIFTY 500 moved +246% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-03) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 55th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Asian Hotels (West) Ltd trades at 8.2× P/E, mid-range by its own standards (55th percentile). Its long-run median P/E is 8.1×, measured across 8.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 8.2× is mid-range by its own standards (55th percentile), against a long-run median of 8.1× measured over 8.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Asian Hotels (West) Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 7 quarters across 0 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
The return-on-capital curve is not shown — net worth is negative, so a return on capital is not a meaningful number in any basis. This is a distressed balance sheet, and the stage is read from the growth curves alone.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +5.8% | +7.8% | +27.1% | +3.2% |
| Profit | +62.5% | +26.6% | — | — |
| EPS | +63.3% | +26.1% | — | — |
| Share price | — | — | +16.3% | +14.8% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
56.9/100 — rank 7 of 24 in Hotels · 62% evidence confidence
Asian Hotels (West) Ltd scores 56.9 out of 100 against the 24 companies it is compared with in Hotels, ranking 7. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.1 + 15.1 + 11.4 + 8.3 = 56.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Asian Hotels (West) Ltd reported ₹122 Cr of revenue in the Mar 26 quarter, +6.1% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 3.2% a year. The last full year, FY26, came in at ₹435 Cr. The last four reported quarters add to ₹436 Cr.
Asian Hotels (West) Ltd reported ₹122 Cr of revenue in the Mar 26 quarter, +6.1% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 3.2% a year. The last full year, FY26, came in at ₹435 Cr. The last four reported quarters add to ₹436 Cr.
FY26 revenue came in at ₹435 Cr (+5.8% on the year), capping 10 years at 3.2% compound. The latest quarter (Mar 26) printed ₹122 Cr, +6.1% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +6.2% growth against the decade's 3.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +6.1% over the last 4 quarters against +11.5%/yr over the last 8 — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 45.0% this quarter (+5.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Asian Hotels (West) Ltd's operating margin is 45.0% in the Mar 26 quarter, +5.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 0.0% to 45.0%. The current quarter sits inside that band.
Asian Hotels (West) Ltd's operating margin is 45.0% in the Mar 26 quarter, +5.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 0.0% to 45.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 45.0%, +5.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0%–45.0%, and FY26's 45.0% is the top of that band — a record year.
Why the margin moved: operating margin went +4.7 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins held — did that reach the bottom line? Next: profit null in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Asian Hotels (West) Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹65.0 Cr. That is 9.0% of the quarter's revenue. The same quarter a year earlier lost ₹1.0 Cr. 3 of the last 12 reported quarters were loss-making.
Asian Hotels (West) Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹65.0 Cr. That is 9.0% of the quarter's revenue. The same quarter a year earlier lost ₹1.0 Cr. 3 of the last 12 reported quarters were loss-making.
Mar 26 profit was ₹11.0 Cr, null year on year. On the full year, FY26 printed ₹65.0 Cr (+62.5%).
Pace comparison, last four quarters: profit +105.9% vs revenue +6.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 444% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 444% of Asian Hotels (West) Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹203 Cr of operating cash against ₹65.0 Cr of profit. After ₹35.0 Cr of capital spending, ₹168 Cr was left as free cash.
FY26: operating cash of ₹203 Cr against reported profit of ₹65.0 Cr, leaving free cash of ₹168 Cr after ₹35.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 444% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 444%: the cash cycle tightened 251 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a −222-day cycle and ₹61.0 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Asian Hotels (West) Ltd's cash conversion cycle runs −222 days in FY26, down from 29 days in FY21. Capital spending ran ₹61.0 Cr over the last 3 years. At FY26 sales of ₹435 Cr each day of that cycle holds about ₹1.2 Cr, so roughly ₹−265 Cr sits inside the business at any moment.
FY26: debtors at 15 days, inventory at 47 days — roughly 1.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −222 days, tighter than FY21's 29.
The full loop: cash goes out to suppliers and production on day 0; stock waits 47 days to sell; customers pay about 15 days after that; and suppliers themselves are paid at 284 days — netting out to the −222-day cycle.
In money terms: at FY26 sales of ₹435 Cr, each day of the cycle holds about ₹1.2 Cr — so the −222-day loop keeps roughly ₹−265 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹61.0 Cr over the last 3 fiscal years against ₹122 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 20% and the ROIC − WACC spread is +15.0 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Asian Hotels (West) Ltd earns a ROCE of 20% in FY26. That is up from a trough of −4% in FY21. Return on invested capital clears the cost of that capital by +15.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 14.9% net margin on 0.45× asset turns.
FY26 ROCE is 20%, recovered from a FY21 trough of −4% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 14.9% net margin × 0.45× asset turns × −74.23× balance-sheet leverage ≈ −497.7% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 27.0% − 12.0% = a +15.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is −64.54.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Asian Hotels (West) Ltd's net worth is negative — it owes more than it owns — so a debt-to-equity ratio is not meaningful here. On the annual view that ratio went from −8.47 in FY24 to −64.54 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹839 Cr against shareholder equity of ₹−13.0 Cr — a debt-to-equity of −64.54. On the annual view, debt-to-equity went from −8.47 (FY24) to −64.54 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Promoters added 1.4 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters added 1.4 points of Asian Hotels (West) Ltd over 8 quarters, the biggest move on the register. That takes promoters to 72.1% of the company. Domestic institutions moved +0.0 points over the same window, to 0.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +1.4 points over 8 quarters to 72.1%; Domestic institutions: +0.0 points over 8 quarters to 0.6%.
Why the register moved: promoters drove it (+1.4 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Asian Hotels (West) Ltd: the Z-score reads 0.39. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits inside the distress zone. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
🚨 Why it matters: a Z-score of 0.39 is inside the distress zone — the balance sheet is a real risk, not a detail.
The safety line in one sentence: the Z-score reads 0.39.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Asian Hotels (West) Ltd this page | 8.2× | ₹670 Cr | No read | |||
| Indian Hotels Co Ltd | 53.3× | ₹1L Cr | Consistent | |||
| ITC Hotels Ltd | 36.2× | ₹33,311 Cr | No read | |||
| EIH Ltd | 28.6× | ₹20,412 Cr | Mixed | |||
| Chalet Hotels Ltd | 27.6× | ₹17,835 Cr | Mixed | |||
| Travel Food Services Ltd | 38.4× | ₹16,938 Cr | No read | |||
| Leela Palaces Hotels & Resorts Ltd | 38.8× | ₹15,853 Cr | No read | |||
| Ventive Hospitality Ltd | 33.5× | ₹14,427 Cr | No read | |||
| Lemon Tree Hotels Ltd | 34.9× | ₹8,664 Cr | Mixed | |||
| Juniper Hotels Ltd | 24.8× | ₹4,296 Cr | No read | |||
| Samhi Hotels Ltd | 9.6× | ₹3,946 Cr | No read | |||
| Apeejay Surrendra Park Hotels Ltd | 39.1× | ₹2,611 Cr | Mixed | |||
| Apeejay Surrendra Park Hotels Ltd | 29.8× | ₹2,528 Cr | Mixed | |||
| Oriental Hotels Ltd | 35.9× | ₹2,408 Cr | Improving | |||
| TajGVK Hotels & Resorts Ltd | 14.6× | ₹2,257 Cr | No read | |||
| EIH Associated Hotels Ltd | 21.0× | ₹1,895 Cr | Topping out | |||
| Asian Hotels (North) Ltd | 484.0× | ₹1,307 Cr | No read | |||
| Benares Hotels Ltd | 28.1× | ₹1,236 Cr | Mixed | |||
| Viceroy Hotels Ltd | 48.7× | ₹892 Cr | No read | |||
| Royal Orchid Hotels Ltd | 27.6× | ₹853 Cr | Mixed | |||
| U P Hotels Ltd | 25.8× | ₹777 Cr | Turning around | |||
| Advent Hotels International Ltd | 15.8× | ₹768 Cr | No read | |||
| Sayaji Hotels Ltd | — | ₹525 Cr | No read | |||
| Kamat Hotels (India) Ltd | 11.7× | ₹499 Cr | Mixed | |||
| HLV Ltd | 2.8× | ₹473 Cr | No read |
Frequently asked questions
What is Asian Hotels (West) Ltd's share price today?
Asian Hotels (West) Ltd trades at ₹575. The company is valued at ₹670 Cr. The stock sits at 80% of its 52-week range of ₹144–₹684, +50.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 24 July 2026.
What were Asian Hotels (West) Ltd's latest quarterly results?
Asian Hotels (West) Ltd reported revenue of ₹122 Cr and net profit of ₹11.0 Cr for the Mar 26 quarter. Earnings per share were ₹9.30. The operating margin was 45.0%, 5.0 pp higher than a year earlier. — as of 24 July 2026.
What is Asian Hotels (West) Ltd's revenue?
Asian Hotels (West) Ltd reported revenue of ₹122 Cr in the Mar 26 quarter, +6.1% year on year. For the full FY26 fiscal year, revenue was ₹435 Cr (+5.8%). Over the last 10 years revenue compounded at 3.2% a year. — as of 24 July 2026.
What is Asian Hotels (West) Ltd's profit?
Asian Hotels (West) Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹65.0 Cr. The operating margin ran 45.0% in the latest quarter. — as of 24 July 2026.
What is Asian Hotels (West) Ltd's market cap?
Asian Hotels (West) Ltd's market capitalisation is ₹670 Cr at a share price of ₹575. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Asian Hotels (West) Ltd's P/E ratio?
Asian Hotels (West) Ltd trades at a P/E of 8.2×, at the 55th percentile of its own 8-year range, against a long-run median of 8.1×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Is Asian Hotels (West) Ltd overvalued?
On its own history, Asian Hotels (West) Ltd looks mid-range against its own history: its P/E of 8.2× sits at the 55th percentile of its 8-year range (long-run median 8.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
How is Asian Hotels (West) Ltd performing?
Asian Hotels (West) Ltd is in a confirmed uptrend, 12 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Asian Hotels (West) Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +50.0% versus its 200-day average and at 80% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Asian Hotels (West) Ltd beating the market?
Not lately — on a trailing-13-week view Asian Hotels (West) Ltd is currently behind the NIFTY 500 (3 weeks and counting; last ahead the week of 2026-07-03), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.2 years the stock moved +342% against the NIFTY 500's +246% — ahead of the index over the full window. — as of 24 July 2026.
Will Asian Hotels (West) Ltd's share price go up?
This page publishes no price forecast for Asian Hotels (West) Ltd. What it measures instead: the share price is ₹575, the price is in a confirmed uptrend 12 weeks in. Its P/E of 8.2× sits at the 55th percentile of its own 8-year range. — as of 24 July 2026.
Who owns Asian Hotels (West) Ltd?
Promoters hold 72.1% of Asian Hotels (West) Ltd, foreign institutions null%, domestic institutions 0.6% and the public 27.3% (latest quarter). The biggest move on the register over the last two years: Promoters added 1.4 points over 8 quarters. — as of 24 July 2026.
Does Asian Hotels (West) Ltd have too much debt?
No — Asian Hotels (West) Ltd's debt-to-equity is −64.54, and operating profit covers the interest bill 4×. FY26 borrowings were ₹839 Cr against equity of ₹−13.0 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Asian Hotels (West) Ltd's capex?
Asian Hotels (West) Ltd spent ₹61.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹35.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Asian Hotels (West) Ltd's cash flow?
Asian Hotels (West) Ltd generated ₹203 Cr of operating cash flow in FY26 and ₹168 Cr of free cash flow after ₹35.0 Cr of capital spending. Reported profit that year was ₹65.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Asian Hotels (West) Ltd's profit real cash?
Yes — over the last 3 fiscal years, 444% of Asian Hotels (West) Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹203 Cr against reported profit of ₹65.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
How financially safe is Asian Hotels (West) Ltd?
On the balance sheet, the Z-score reads 0.39 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That is inside the danger band — a real balance-sheet risk. — as of 24 July 2026.
Where is Asian Hotels (West) Ltd in its business cycle?
Asian Hotels (West) Ltd's FY26 operating margin was 45.0%, against a 13-year band of 0.0%–45.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 45.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Asian Hotels (West) Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Asian Hotels (West) Ltd a stock worth studying right now?
This is not investment advice. The machine read: Asian Hotels (West) Ltd's balance sheet is under water — net worth is negative, so it owes more than it owns. This is a distressed, high-risk situation — the equity can be wiped by dilution or restructuring before operations recover. Not a value setup. The sharpest open question: whether the business can earn its way back to positive equity before dilution or restructuring gets there first. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.