HLV Ltd
HLVLTDHLV Ltd is cheap for a reason. The P/E sits at the 11th percentile of its own range, and the quarters are still getting worse.
The sharpest disagreement: the P/E sits at the 11th percentile of its own range, but the engine is deteriorating — cheap for a reason until the quarters turn.
The price is in a downtrend (104 weeks in) while the P/E sits at the 11th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating, and 182% of the last 3 years' profit arrived as cash. What settles it: whether the quarters turn before the discount closes.
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.
HLV Ltd trades at ₹7.2, in a downtrend and 104 weeks into that stage. That is −21.6% against its own 200-day average. It sits at 17% of a 52-week range of ₹6 to ₹12. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).
Today the stock is in a downtrend — week 104 of stage 4, confirmed. At ₹7.2 it trades −21.6% versus its 200-day average and sits at 17% of its 52-week range (₹6–₹12).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved −59% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — 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.
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.
HLV Ltd trades at 2.8× P/E, near the bottom of its own range — cheaper only 11% of the time. Its long-run median P/E is 4.9×, measured across 9.9 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 2.8× is near the bottom of its own range — cheaper only 11% of the time, against a long-run median of 4.9× measured over 9.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
The price move, decomposed: over 5y, of the −7.3%/yr price move, ~−0.2%/yr came from earnings growth and ~−7.1 pp from the multiple (compressing); over 10y, of the −9.0%/yr price move, ~+14.1%/yr came from earnings growth and ~−23.1 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
At its price on 13 June 2026, HLV Ltd was priced for profit growth of about −14.8% a year. Profit itself has compounded 16.8% a year over the past 10 years. The market pays that at 2.8× P/E, the 11th percentile of its own 10-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is below what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.
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).
HLV 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 4 quarters across 1 curve, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
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 | −5.2% | −40.6% | −25.5% | −10.6% |
| Profit | — | — | — | +16.8% |
| EPS | — | — | — | +10.9% |
| Share price | −46.4% | −20.5% | −7.3% | −9.0% |
4-Factor Sector Score
41.2/100 — rank 24 of 24 in Hotels · 38% evidence confidence · provisional, ranked below fully-evidenced peers
HLV Ltd scores 41.2 out of 100 against the 24 companies it is compared with in Hotels, ranking 24. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 17.9 + 8.8 + 11.5 + 3 = 41.2. 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.
HLV Ltd reported ₹38.0 Cr of revenue in the Mar 20 quarter, −11.6% year on year. Over 10 years it has compounded at −10.6% a year. The last full year, FY20, came in at ₹146 Cr. The last four reported quarters add to ₹147 Cr.
FY20 revenue came in at ₹146 Cr (−5.2% on the year), capping 10 years at −10.6% compound. The latest quarter (Mar 20) printed ₹38.0 Cr, −11.6% year on year.
Pace check: the last four quarters averaged −9.5% growth against the decade's −10.6% — the current year is running faster than its own long-run rate.
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.
HLV Ltd's operating margin is −39.0% in the Mar 20 quarter, −41.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −54.0% to 35.0%. The current quarter sits inside that band.
The latest quarter's operating margin is −39.0%, −41.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −54.0%–35.0%.
🚨 Why the margin moved: operating margin went −41.2 pp year on year while gross margin went −0.6 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
HLV Ltd posted a net loss of ₹17.0 Cr in the Mar 20 quarter. Full-year FY20 profit was ₹194 Cr. The 10-year compound rate is 16.8%. That loss is 44.7% of the quarter's revenue. The same quarter a year earlier lost ₹30.0 Cr. 5 of the last 8 reported quarters were loss-making.
Mar 20 profit was ₹−17.0 Cr, null year on year. On the full year, FY20 printed ₹194 Cr (null), and the 10-year compound rate is 16.8%.
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 182% of HLV Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY20 that was ₹139 Cr of operating cash against ₹194 Cr of profit. After ₹−3.0 Cr of capital spending, ₹142 Cr was left as free cash.
FY20: operating cash of ₹139 Cr against reported profit of ₹194 Cr, leaving free cash of ₹142 Cr after ₹−3.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 182% 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 182%: the cash cycle stretched 65 days between FY15 and FY20 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
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).
HLV Ltd's cash conversion cycle runs 19 days in FY20, up from −46 days in FY15. Capital spending ran ₹−3,720 Cr over the last 3 years. At FY20 sales of ₹146 Cr each day of that cycle holds about ₹0.4 Cr, so roughly ₹8.0 Cr sits inside the business at any moment.
FY20: debtors at 19 days (an asset-light business — no inventory to speak of) — for a full cycle of 19 days, looser than FY15's −46.
In money terms: at FY20 sales of ₹146 Cr, each day of the cycle holds about ₹0.4 Cr — so the 19-day loop keeps roughly ₹8.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹−3,720 Cr over the last 3 fiscal years against ₹35.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹1.0 Cr (FY20) — 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.
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.
HLV Ltd earns a ROCE of 8% in FY20. That is up from a trough of −2% in FY15. Return on invested capital clears the cost of that capital by −13.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 132.9% net margin on 0.22× asset turns.
FY20 ROCE is 8%, recovered from a FY15 trough of −2% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY20): 132.9% net margin × 0.22× asset turns × 1.44× balance-sheet leverage ≈ 42.1% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: −1.4% − 12.0% = a −13.4 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. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
HLV Ltd carries ₹33.0 Cr of borrowings against ₹457 Cr of equity in FY20, a debt-to-equity of 0.07. Operating profit covers the interest bill −37×. Over 5 years borrowings went from ₹5,034 Cr to ₹33.0 Cr. Capital spending ran ₹−3,720 Cr across the last 3 of those years.
FY20: borrowings of ₹33.0 Cr against equity of ₹457 Cr — a debt-to-equity of 0.07. Operating profit covers the interest bill −37×. Over 5 years borrowings went from ₹5,034 Cr to ₹33.0 Cr while capital spending ran ₹−3,720 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.
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 cut 6.3 points of HLV Ltd over 8 quarters, the biggest move on the register. That takes promoters to 39.1% of the company. Foreign institutions moved −0.1 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −6.3 points over 8 quarters to 39.1%; Foreign institutions: −0.1 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 1.5%.
🚨 Why the register moved: promoters drove it (−6.3 points) — distribution into the market’s bid.
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.
HLV Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Chalet Hotels LtdCHALET | 69.5/100Favorable setup94% evidence | FADING | 25.4/35 Revenue 6% · PAT 85.3% · OPM change 6 pp 100% evidence | 16.1/25 ROCE 17.1% · OPM 46% 100% evidence | 16.2/20 P/E 33.8× · PEG 0.83 100% evidence | 11.8/20 RS sector 3.6% · RS bench -5.6% · 1Y -5%1 of 10 weeks ahead 70% evidence |
| Exact sum: 25.4 + 16.1 + 16.2 + 11.8 = 69.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Asian Hotels (West) LtdAHLWEST | 66.2/100Favorable setup74% evidence | ASLEEP | 26.6/35 Revenue 8.5% · PAT 100% · OPM change 2 pp 95% evidence | 19.9/25 ROCE 19.7% · OPM 40% 95% evidence | 11.4/20 P/E 7.1× · PEG — 15% evidence | 8.3/20 RS sector -25% · RS bench 47.2% · 1Y —5 of 6 weeks ahead 70% evidence |
| Exact sum: 26.6 + 19.9 + 11.4 + 8.3 = 66.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Oriental Hotels LtdORIENTHOT | 62.2/100Mixed-positive evidence93% evidence | BREAKING OUT | 17.4/35 Revenue 6.9% · PAT 41.1% · OPM change -2.8 pp 100% evidence | 11.4/25 ROCE 12.1% · OPM 21% 100% evidence | 14.1/20 P/E 33× · PEG 0.66 65% evidence | 19.3/20 RS sector 12.3% · RS bench 6.5% · 1Y -10.2%10 of 12 weeks ahead 100% evidence |
| Exact sum: 17.4 + 11.4 + 14.1 + 19.3 = 62.2 · Decision use: Price leads the evidence: RS versus the benchmark is 6.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 4Indian Hotels Co LtdINDHOTEL | 62.1/100Mixed-positive evidence82% evidence | BREAKING OUT | 20.2/35 Revenue 13.2% · PAT 9.5% · OPM change 1 pp 95% evidence | 16.9/25 ROCE 17.1% · OPM 29% 76% evidence | 9.8/20 P/E 52.7× · PEG — 50% evidence | 15.2/20 RS sector 6% · RS bench 0.9% · 1Y -2.1%8 of 12 weeks ahead 100% evidence |
| Exact sum: 20.2 + 16.9 + 9.8 + 15.2 = 62.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Travel Food Services LtdTRAVELFOOD | 62.0/100Mixed-positive evidence69% evidence | TURNING | 16.2/35 Revenue 4.4% · PAT 17.4% · OPM change -3 pp 95% evidence | 21.2/25 ROCE 42.4% · OPM 36% 76% evidence | 9.0/20 P/E 37.8× · PEG — 15% evidence | 15.6/20 RS sector 11.6% · RS bench 6.4% · 1Y 21.9%3 of 12 weeks ahead 70% evidence |
| Exact sum: 16.2 + 21.2 + 9 + 15.6 = 62 · Decision use: Price leads the evidence: RS versus the benchmark is 6.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 6TajGVK Hotels & Resorts LtdTAJGVK | 58.7/100Mixed-positive evidence87% evidence | BREAKING OUT | 21.3/35 Revenue 22.5% · PAT 100% · OPM change 0 pp 100% evidence | 12.9/25 ROCE 13.2% · OPM 30% 100% evidence | 16.0/20 P/E 14.9× · PEG 0.43 65% evidence | 8.5/20 RS sector -3.6% · RS bench -9.4% · 1Y -16.4%5 of 11 weeks ahead 70% evidence |
| Exact sum: 21.3 + 12.9 + 16 + 8.5 = 58.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Leela Palaces Hotels & Resorts LtdTHELEELA | 58.4/100Mixed-positive evidence87% evidence | BREAKING OUT | 24.6/35 Revenue 19.1% · PAT 100% · OPM change -1 pp 100% evidence | 9.3/25 ROCE 8.7% · OPM 36% 100% evidence | 7.7/20 P/E 38× · PEG 1.65 65% evidence | 16.8/20 RS sector 19.8% · RS bench 14.6% · 1Y 17.3%9 of 12 weeks ahead 70% evidence |
| Exact sum: 24.6 + 9.3 + 7.7 + 16.8 = 58.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8ITC Hotels LtdITCHOTELS | 53.6/100Mixed-positive evidence93% evidence | TURNING | 23.4/35 Revenue 16.1% · PAT 26.9% · OPM change 1 pp 100% evidence | 10.7/25 ROCE 11.2% · OPM 31% 100% evidence | 10.8/20 P/E 37.3× · PEG 1.15 65% evidence | 8.7/20 RS sector -8.1% · RS bench -13% · 1Y -29.3%3 of 12 weeks ahead 100% evidence |
| Exact sum: 23.4 + 10.7 + 10.8 + 8.7 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Benares Hotels LtdBENARAS | 53.3/100Mixed-positive evidence76% evidence | 9.1/35 Revenue 7.7% · PAT -1.1% · OPM change -3.3 pp 95% evidence | 21.0/25 ROCE 29.8% · OPM 36.9% 76% evidence | 8.6/20 P/E 30.1× · PEG — 50% evidence | 14.6/20 RS sector 12.1% · RS bench -0.8% · 1Y 2.8%4 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 9.1 + 21 + 8.6 + 14.6 = 53.3 · Decision use: Price leads the evidence: RS versus the benchmark is -0.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Lemon Tree Hotels LtdLEMONTREE | 50.6/100Mixed-positive evidence69% evidence | ASLEEP | 18.9/35 Revenue 10.4% · PAT 9.6% · OPM change -1 pp 95% evidence | 16.4/25 ROCE 14% · OPM 43% 76% evidence | 9.6/20 P/E 33.7× · PEG — 15% evidence | 5.7/20 RS sector -8.5% · RS bench -20.7% · 1Y -24%0 of 10 weeks ahead 70% evidence |
| Exact sum: 18.9 + 16.4 + 9.6 + 5.7 = 50.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Samhi Hotels LtdSAMHI | 47.4/100Mixed-negative evidence83% evidence | TURNING | 19.2/35 Revenue 11.9% · PAT 100% · OPM change -1 pp 100% evidence | 6.5/25 ROCE 8.9% · OPM 32% 100% evidence | 11.2/20 P/E 8.6× · PEG — 15% evidence | 10.5/20 RS sector -4.2% · RS bench -9.1% · 1Y -26.3%8 of 12 weeks ahead 100% evidence |
| Exact sum: 19.2 + 6.5 + 11.2 + 10.5 = 47.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12EIH LtdEIHOTEL | 46.4/100Mixed-negative evidence82% evidence | ASLEEP | 12.1/35 Revenue 8.3% · PAT 4.2% · OPM change -3 pp 95% evidence | 18.3/25 ROCE 20.7% · OPM 25% 76% evidence | 13.0/20 P/E 25.9× · PEG — 50% evidence | 3.0/20 RS sector -9.9% · RS bench -14.4% · 1Y -15.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 12.1 + 18.3 + 13 + 3 = 46.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 13Advent Hotels International LtdADVENTHTL | 46.0/100Mixed-negative evidence60% evidence | ASLEEP | 16.7/35 Revenue 3.5% · PAT -29.3% · OPM change 6.1 pp 95% evidence | 8.5/25 ROCE 6.8% · OPM 32.6% 95% evidence | 10.8/20 P/E 15.8× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence |
| Exact sum: 16.7 + 8.5 + 10.8 + 10 = 46 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Kamat Hotels (India) LtdKAMATHOTEL | 45.8/100Mixed-negative evidence81% evidence | TURNING | 13.4/35 Revenue 7.6% · PAT -11.5% · OPM change 5.3 pp 95% evidence | 16.9/25 ROCE 15.8% · OPM 27.2% 95% evidence | 10.8/20 P/E 13.8× · PEG — 50% evidence | 4.7/20 RS sector -20.6% · RS bench -11.7% · 1Y -23.2%3 of 11 weeks ahead 70% evidence |
| Exact sum: 13.4 + 16.9 + 10.8 + 4.7 = 45.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Ventive Hospitality LtdVENTIVE | 45.4/100Mixed-negative evidence75% evidence | ASLEEP | 20.9/35 Revenue 25% · PAT 100% · OPM change -6 pp 95% evidence | 12.3/25 ROCE 10.8% · OPM 35% 76% evidence | 10.1/20 P/E 28.1× · PEG — 15% evidence | 2.1/20 RS sector -12.1% · RS bench -16.3% · 1Y -21.2%1 of 12 weeks ahead 100% evidence |
| Exact sum: 20.9 + 12.3 + 10.1 + 2.1 = 45.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Juniper Hotels LtdJUNIPER | 44.8/100Mixed-negative evidence93% evidence | BASING | 23.3/35 Revenue 11.4% · PAT 100% · OPM change -1 pp 100% evidence | 6.4/25 ROCE 8% · OPM 35% 100% evidence | 11.1/20 P/E 23.2× · PEG 1.29 65% evidence | 4.0/20 RS sector -14% · RS bench -18.6% · 1Y -31.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 23.3 + 6.4 + 11.1 + 4 = 44.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14% and the one-year return is -31.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 17U P Hotels LtdUPHOT | 44.7/100Mixed-negative evidence76% evidence | 7.1/35 Revenue 1.4% · PAT -6% · OPM change -6.5 pp 95% evidence | 16.6/25 ROCE 21.9% · OPM 11.2% 76% evidence | 10.8/20 P/E 24.7× · PEG — 50% evidence | 10.2/20 RS sector 1.2% · RS bench -10.6% · 1Y -16.4%0 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 7.1 + 16.6 + 10.8 + 10.2 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Sayaji Hotels LtdSAYAJIHOTL | 42.4/100Mixed-negative evidence63% evidence | TURNING | 12.7/35 Revenue -8.6% · PAT 79.7% · OPM change 3.3 pp 71% evidence | 4.3/25 ROCE -0.5% · OPM 13.3% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 15.4/20 RS sector 8.5% · RS bench 10.5% · 1Y 15.6%4 of 11 weeks ahead 70% evidence |
| Exact sum: 12.7 + 4.3 + 10 + 15.4 = 42.4 · Decision use: Price leads the evidence: RS versus the benchmark is 10.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 19Viceroy Hotels LtdVHLTD | 40.6/100Mixed-negative evidence79% evidence | ASLEEP | 20.7/35 Revenue 24.4% · PAT -69.2% · OPM change 10.8 pp 71% evidence | 8.0/25 ROCE 7.1% · OPM 25.6% 95% evidence | 6.4/20 P/E 37.1× · PEG — 50% evidence | 5.5/20 RS sector -3.9% · RS bench -7.8% · 1Y 22%0 of 12 weeks ahead 100% evidence |
| Exact sum: 20.7 + 8 + 6.4 + 5.5 = 40.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Asian Hotels (North) LtdASIANHOTNR | 40.2/100Thin evidence · provisional56% evidence | ASLEEP | 14.0/35 Revenue 24.7% · PAT -80% · OPM change -3.6 pp 44% evidence | 4.5/25 ROCE 3.5% · OPM 17.5% 95% evidence | 8.5/20 P/E 95.9× · PEG — 15% evidence | 13.2/20 RS sector 8.5% · RS bench -4.6% · 1Y -0.5%1 of 10 weeks ahead 70% evidence |
| Exact sum: 14 + 4.5 + 8.5 + 13.2 = 40.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 21EIH Associated Hotels LtdEIHAHOTELS | 39.0/100Mixed-negative evidence87% evidence | ASLEEP | 7.2/35 Revenue -7.6% · PAT -7% · OPM change -2.2 pp 95% evidence | 14.6/25 ROCE 21.2% · OPM 10.8% 95% evidence | 12.7/20 P/E 20.3× · PEG — 50% evidence | 4.5/20 RS sector -9.5% · RS bench -14.1% · 1Y -19.3%1 of 12 weeks ahead 100% evidence |
| Exact sum: 7.2 + 14.6 + 12.7 + 4.5 = 39 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Royal Orchid Hotels LtdROHLTD | 36.9/100Mixed-negative evidence81% evidence | BASING | 12.5/35 Revenue 26.9% · PAT -42.1% · OPM change -1.2 pp 95% evidence | 11.9/25 ROCE 10.8% · OPM 23.7% 95% evidence | 7.7/20 P/E 32.1× · PEG — 50% evidence | 4.8/20 RS sector -9.8% · RS bench -21% · 1Y -22.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.5 + 11.9 + 7.7 + 4.8 = 36.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Apeejay Surrendra Park Hotels LtdPARKHOTELS | 31.5/100Adverse evidence87% evidence | ASLEEP | 12.3/35 Revenue 10.5% · PAT -36.4% · OPM change -1 pp 100% evidence | 9.2/25 ROCE 9.4% · OPM 28% 100% evidence | 3.8/20 P/E 39× · PEG 3.5 65% evidence | 6.2/20 RS sector -9.8% · RS bench -11.2% · 1Y -24.1%1 of 10 weeks ahead 70% evidence |
| Exact sum: 12.3 + 9.2 + 3.8 + 6.2 = 31.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24HLV Ltdthis pageHLVLTD | 41.2/100Thin evidence · provisional38% evidence | 17.9/35 Revenue -26.1% · PAT 100% · OPM change — 16% evidence | 8.8/25 ROCE 7.8% · OPM -39% 60% evidence | 11.5/20 P/E 2.8× · PEG — 15% evidence | 3.0/20 RS sector -29.5% · RS bench -24.8% · 1Y -43.9%1 of 6 weeks ahead to 2026-07-19 70% evidence | |
| Exact sum: 17.9 + 8.8 + 11.5 + 3 = 41.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is HLV Ltd's share price today?
HLV Ltd trades at ₹7.2, −46.4% over the past year. The company is valued at ₹473 Cr. The stock sits at 17% of its 52-week range of ₹6–₹12, −21.6% versus its 200-day average. On the tape, the price is in a downtrend, 104 weeks in. — as of 14 August 2026.
What were HLV Ltd's latest quarterly results?
HLV Ltd reported revenue of ₹38.0 Cr and a net loss of ₹17.0 Cr for the Mar 20 quarter. Earnings per share were ₹−0.27. The operating margin was −39.0%, 41.0 pp lower than a year earlier. — as of 14 August 2026.
What is HLV Ltd's revenue?
HLV Ltd reported revenue of ₹38.0 Cr in the Mar 20 quarter, −11.6% year on year. For the full FY20 fiscal year, revenue was ₹146 Cr (−5.2%). Over the last 10 years revenue compounded at −10.6% a year. — as of 14 August 2026.
What is HLV Ltd's profit?
HLV Ltd earned ₹−17.0 Cr of net profit in the Mar 20 quarter. Full-year FY20 profit was ₹194 Cr. The operating margin ran −39.0% in the latest quarter. — as of 14 August 2026.
What is HLV Ltd's market cap?
HLV Ltd's market capitalisation is ₹473 Cr at a share price of ₹7.2. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is HLV Ltd's P/E ratio?
HLV Ltd trades at a P/E of 2.8×, at the 11th percentile of its own 10-year range, against a long-run median of 4.9×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does HLV Ltd pay a dividend?
Not in its latest year — HLV Ltd's dividend payout was 0% of profit in FY20. It did record a payout in 3 of its last 12 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is HLV Ltd overvalued?
On its own history, HLV Ltd looks cheap: its P/E of 2.8× has been cheaper only 11% of the time in 10 years (long-run median 4.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
How is HLV Ltd performing?
HLV Ltd is in a downtrend, 104 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
Is HLV Ltd in an uptrend?
No — the price is in a downtrend (week 104 of stage 4), trading −21.6% versus its 200-day average and at 17% 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 14 August 2026.
Is HLV Ltd beating the market?
Not lately — on a trailing-13-week view HLV Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved −59% against the NIFTY 500's +274% — behind the index over the full window. — as of 14 August 2026.
Will HLV Ltd's share price go up?
This page publishes no price forecast for HLV Ltd. What it measures instead: the share price is ₹7.2, the price is in a downtrend 104 weeks in. Its P/E of 2.8× sits at the 11th percentile of its own 10-year range. Direction is not something this site claims to know. — as of 14 August 2026.
Who owns HLV Ltd?
Promoters hold 39.1% of HLV Ltd, foreign institutions 0.0%, domestic institutions 1.5% and the public 59.4% (latest quarter). The biggest move on the register over the last two years: Promoters cut 6.3 points over 8 quarters. — as of 14 August 2026.
Does HLV Ltd have too much debt?
No — HLV Ltd's debt-to-equity is 0.07, and operating profit covers the interest bill −37×. FY20 borrowings were ₹33.0 Cr against equity of ₹457 Cr. The returns on this page are earned, not borrowed — as of 14 August 2026.
What is HLV Ltd's capex?
HLV Ltd spent ₹−3,720 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY20 alone that was ₹−3.0 Cr, with ₹1.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is HLV Ltd's cash flow?
HLV Ltd generated ₹139 Cr of operating cash flow in FY20 and ₹142 Cr of free cash flow after ₹−3.0 Cr of capital spending. Reported profit that year was ₹194 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is HLV Ltd's profit real cash?
Yes — over the last 3 fiscal years, 182% of HLV Ltd's reported profit arrived as operating cash. Though the latest year ran at 72% — the trend is the thing to watch. In FY20, operating cash was ₹139 Cr against reported profit of ₹194 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is HLV Ltd in its business cycle?
HLV Ltd's FY20 operating margin was −25.0%, against a 12-year band of −54.0%–35.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran −39.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What growth does HLV Ltd's price assume?
At its price on 13 June 2026, HLV Ltd was priced for profit growth of about −14.8% a year. Profit itself has compounded 16.8% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 14 August 2026.
What could break the HLV Ltd story?
The sharpest disagreement: the P/E sits at the 11th percentile of its own range, but the engine is deteriorating — cheap for a reason until the quarters turn. 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 14 August 2026.
Is HLV Ltd a stock worth studying right now?
This is not investment advice. The machine read: HLV Ltd is cheap for a reason. The P/E sits at the 11th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the quarters turn before the discount closes. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.