Leela Palaces Hotels & Resorts Ltd (THELEELA) — share price & stock analysis
From losses in FY23 and FY24 to record profits — the comeback is real, the price knows it.
Leela Palaces Hotels & Resorts Ltd (THELEELA) trades at ₹480 as of 1 July 2026, up 18% over the past year — beating NIFTY 500 for 6 weeks. The machine reads this as turnaround: from losses in FY23 and FY24 to record profits — the comeback is real, the price knows it. the price is in Stage 1 — basing, 5 weeks in. Fundamentals-momentum score: 97/100 (all improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹16,027 Cr
- P/E
- 39.2×
- ROE
- 8.2%
- Book value / share
- ₹192
- Revenue (FY26)
- ₹1,527 Cr
- Profit after tax (FY26)
- ₹403 Cr
- Weinstein stage
- Stage 1 (5 weeks)
- Data as of
- 1 July 2026
5 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.
Where the levels actually stand: ROCE 9% — weak; effectively no debt. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).
The price is building a base — waiting for its next move
STAGE 1 · BASING · 5 WEEKSStock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 1: basing, 5 weeks in.stage
Long flat bases after a decline are where the next uptrend is born — but a base can last years. The signal to act is the breakout, not the base.stage
Beating NIFTY 500 for 6 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Jun 25 | 432 | 436 | 435 | 4 |
| Jun 25 | 402 | 435 | 432 | 4 |
| Jun 25 | 394 | 433 | 426 | 4 |
| Jun 25 | 410 | 431 | 422 | 4 |
| Jul 25 | 402 | 430 | 419 | 4 |
| Jul 25 | 435 | 430 | 421 | 4 |
| Jul 25 | 461 | 431 | 425 | 4 |
| Jul 25 | 445 | 432 | 430 | 4 |
| Aug 25 | 413 | 431 | 428 | 4 |
| Aug 25 | 435 | 431 | 428 | 4 |
| Aug 25 | 439 | 431 | 429 | 4 |
| Aug 25 | 421 | 431 | 430 | 4 |
| Aug 25 | 399 | 430 | 426 | 4 |
| Sep 25 | 411 | 429 | 424 | 4 |
| Sep 25 | 420 | 429 | 421 | 4 |
| Sep 25 | 420 | 428 | 421 | 1 |
| Sep 25 | 419 | 428 | 423 | 4 |
| Oct 25 | 432 | 428 | 423 | 4 |
| Oct 25 | 453 | 428 | 425 | 4 |
| Oct 25 | 442 | 429 | 429 | 1 |
| Oct 25 | 429 | 429 | 430 | 1 |
| Oct 25 | 434 | 430 | 430 | 1 |
| Nov 25 | 437 | 430 | 431 | 1 |
| Nov 25 | 428 | 430 | 431 | 1 |
| Nov 25 | 417 | 430 | 430 | 1 |
| Nov 25 | 412 | 429 | 427 | 1 |
| Dec 25 | 398 | 428 | 423 | 1 |
| Dec 25 | 398 | 426 | 418 | 1 |
| Dec 25 | 412 | 425 | 416 | 4 |
| Dec 25 | 435 | 425 | 417 | 4 |
| Jan 26 | 445 | 426 | 420 | 4 |
| Jan 26 | 429 | 426 | 421 | 1 |
| Jan 26 | 441 | 426 | 424 | 1 |
| Jan 26 | 408 | 426 | 423 | 4 |
| Feb 26 | 425 | 425 | 421 | 4 |
| Feb 26 | 434 | 426 | 424 | 4 |
| Feb 26 | 445 | 427 | 428 | 4 |
| Feb 26 | 435 | 427 | 430 | 1 |
| Feb 26 | 454 | 428 | 432 | 1 |
| Mar 26 | 434 | 428 | 433 | 1 |
| Mar 26 | 432 | 429 | 433 | 2 |
| Mar 26 | 399 | 428 | 428 | 2 |
| Mar 26 | 406 | 427 | 425 | 2 |
| Apr 26 | 416 | 426 | 424 | 3 |
| Apr 26 | 430 | 426 | 424 | 3 |
| Apr 26 | 427 | 426 | 424 | 3 |
| Apr 26 | 429 | 427 | 426 | 3 |
| Apr 26 | 426 | 426 | 426 | 3 |
| Apr 26 | 428 | 426 | 426 | 3 |
| May 26 | 423 | 426 | 425 | 3 |
| May 26 | 414 | 426 | 423 | 4 |
| May 26 | 416 | 425 | 421 | 4 |
| May 26 | 413 | 425 | 420 | 4 |
| Jun 26 | 418 | 424 | 419 | 4 |
| Jun 26 | 419 | 424 | 419 | 4 |
| Jun 26 | 410 | 424 | 418 | 4 |
| Jun 26 | 430 | 424 | 418 | 4 |
| Jun 26 | 456 | 425 | 423 | 1 |
| Jun 26 | 494 | 426 | 427 | 1 |
| Jun 26 | 489 | 428 | 434 | 1 |
| Jun 26 | 484 | 428 | 436 | 1 |
| Jul 26 | 480 | 430 | 441 | 1 |
From losing money in FY23 and FY24 to record profits
Over 3 years, sales went from ₹860 Cr to ₹1,527 Cr (about 21% a year), and profit from ₹−62.0 Cr to ₹403 Cr.revenuenet_profit
The books show real losses in FY23 and FY24 (worst: ₹−62.0 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY23 | 860 |
| FY24 | 1,171 |
| FY25 | 1,301 |
| FY26 | 1,527 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY23 | -62 |
| FY24 | -2 |
| FY25 | 48 |
| FY26 | 403 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY23 | 44.3 |
| FY24 | 46.8 |
| FY25 | 45.7 |
| FY26 | 48.5 |
Sales grew 14% last quarter — the 4th straight quarter of growth
Mar 26 sales were ₹484 Cr, up 14% on the same quarter last year.revenue
That makes 4 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 24 | 228 | – |
| Sep 24 | 277 | – |
| Dec 24 | 370 | – |
| Mar 25 | 425 | – |
| Jun 25 | 275 | 20.6 |
| Sep 25 | 311 | 12.3 |
| Dec 25 | 457 | 23.5 |
| Mar 26 | 484 | 13.9 |
Margins are widening — 53% → 55% in a year
Of every ₹100 of sales, the company keeps ₹54.8 as operating profit (a year ago it kept ₹53.3).opm_pct
Zoom out and this is the page's quiet hero: annual operating margin bottomed at 44.3% in FY23 and has been rebuilt to 48.5% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit
The gross margin barely moved (94% → 94%), so the change came from running costs — the business is getting more efficient as it scales.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Jun 24 | 91.8 | 29.1 | -32.9 |
| Sep 24 | 91.7 | 41.2 | -18.5 |
| Dec 24 | 93.1 | 50.4 | 15.2 |
| Mar 25 | 93.6 | 53.3 | 27.7 |
| Jun 25 | 92.9 | 36.9 | 3.2 |
| Sep 25 | 92.3 | 43.6 | 24.1 |
| Dec 25 | 93.2 | 51.5 | 33.5 |
| Mar 26 | 93.7 | 54.8 | 35.5 |
Profit exploded 47% — mostly from interest costs
Mar 26 profit after tax was ₹172 Cr, up 47% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 24 | -75.0 | – |
| Sep 24 | -51.0 | – |
| Dec 24 | 56.0 | – |
| Mar 25 | 117 | – |
| Jun 25 | 9.0 | 112.0 |
| Sep 25 | 75.0 | 247.1 |
| Dec 25 | 148 | 164.3 |
| Mar 26 | 172 | 47.0 |
The single biggest driver was interest costs.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 117 |
| More sales | +32 |
| Fatter margins | +8 |
| Other income | −28 |
| Depreciation | +1 |
| Interest | +59 |
| Tax | −16 |
| PAT Mar 26 | 172 |
Does the profit turn into cash?
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY23 | 318 | -62.0 |
| FY24 | 539 | -2.0 |
| FY25 | 553 | 48.0 |
| FY26 | 777 | 403 |
The cash cycle is tightening — money comes home faster
One rupee now takes about -128 days to go out the door as materials and come back as collected cash — down from 25 days the year before.cash_conversion_cycle
The biggest mover: customers paying faster (25 → 19 days).debtor_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY23 | 30.0 | – | – |
| FY24 | 23.0 | – | – |
| FY25 | 25.0 | – | – |
| FY26 | 19.0 | 112 | 258 |
Steady, unhurried investment
The productive asset base has gone from ₹5,259 Cr (FY23) to ₹7,853 Cr, with another ₹229 Cr of capacity under construction right now.fixed_assetscwip
The build is bigger than the cash engine: investing outflows (₹7,153 Cr) exceeded operating cash (₹1,869 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY23 | 5,259 | 27.0 |
| FY24 | 6,212 | 39.0 |
| FY25 | 6,305 | 131 |
| FY26 | 7,853 | 229 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹28 — total borrowings have shrunk from ₹3,883 Cr to ₹1,811 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY23 | 3,883 |
| FY24 | 4,453 |
| FY25 | 4,142 |
| FY26 | 1,811 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY23 | -1.6 |
| FY24 | -1.6 |
| FY25 | 1.2 |
| FY26 | 0.3 |
The owners aren’t moving
Promoters hold 75.9%, essentially unchanged. Foreign funds own 8.6%, domestic funds 10.5%.promoters_pctfiis_pctdiis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 25 | 75.9 | 8.7 | 9.9 |
| Sep 25 | 75.9 | 8.5 | 11.1 |
| Dec 25 | 75.9 | 9.0 | 10.6 |
| Mar 26 | 75.9 | 8.6 | 10.5 |
Worth studying deeper — with eyes open
The numbers lean positive, and the price is roughly fair to the delivery so far.
Best thing in the data: free cash flow rising (₹−5,177 Cr → ₹140 Cr).operating_cash_flow
Biggest worry: returns on capital falling (12.0% → 9.0%).roce_pct
One dissent worth hearing: our catalysts lens reads negative — “4 earnings trigger(s): IPO-funded debt repayment slashed quarterly interest from ₹119 crore to ₹39 crore, adding roughly ₹300 crore annually to PAT at current b”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Leela Palaces Hotels & Resorts Ltd do?
Established in 2019, Schloss Bangalore Limited is a luxury hospitality company operating under "The Leela" brand in India.[1]. It is listed in the Hotels sector with a market capitalisation of ₹16,027 Cr.
What is Leela Palaces Hotels & Resorts Ltd's share price?
As of 1 July 2026, Leela Palaces Hotels & Resorts Ltd trades at ₹480, up 18% over the past year, with a market capitalisation of ₹16,027 Cr. Beating NIFTY 500 for 6 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Leela Palaces Hotels & Resorts Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Leela Palaces Hotels & Resorts Ltd's intrinsic value at ₹514 per share under base assumptions (bear ₹146, bull ₹514), against the current price of ₹480 — a 6% margin of safety. The current price already implies roughly 26% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did Leela Palaces Hotels & Resorts Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹484 Cr, up 14% on the same quarter last year. Mar 26 profit after tax was ₹172 Cr, up 47% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Leela Palaces Hotels & Resorts Ltd growing?
Sales grew 14% last quarter — the 4th straight quarter of growth. Mar 26 sales were ₹484 Cr, up 14% on the same quarter last year.
Are Leela Palaces Hotels & Resorts Ltd's profits growing?
Profit exploded 47% — mostly from interest costs. Mar 26 profit after tax was ₹172 Cr, up 47% year on year.
What are Leela Palaces Hotels & Resorts Ltd's operating margins?
Margins are widening — 53% → 55% in a year. In the most recent quarter, of every ₹100 of sales, the company keeps ₹54.8 as operating profit (a year ago it kept ₹53.3).
What is Leela Palaces Hotels & Resorts Ltd's long-term growth record?
Revenue grew from ₹860 Cr in FY23 to ₹1,527 Cr in FY26 — a 21.1% compound annual growth rate over 3 years. Profit CAGR is not meaningful across this span — the company reported losses in FY23, FY24.
Is Leela Palaces Hotels & Resorts Ltd stock in an uptrend?
The price is building a base — waiting for its next move. Leela Palaces Hotels & Resorts Ltd is in Stage 1 — basing, 5 weeks in (pending). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Is Leela Palaces Hotels & Resorts Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 6 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Who owns Leela Palaces Hotels & Resorts Ltd — what is the promoter holding?
Promoters hold 75.9%, essentially unchanged. Foreign funds own 8.6%, domestic funds 10.5%. Shareholding is from Screener's quarterly filings data.
Does Leela Palaces Hotels & Resorts Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹28 — total borrowings have shrunk from ₹3,883 Cr to ₹1,811 Cr over the window.
What is the bull case for Leela Palaces Hotels & Resorts Ltd?
From losses in FY23 and FY24 to record profits — the comeback is real, the price knows it. Best thing in the data: free cash flow rising (₹−5,177 Cr → ₹140 Cr). Sales grew 14% last quarter — the 4th straight quarter of growth.
What is the bear case for Leela Palaces Hotels & Resorts Ltd — what could break the story?
Biggest worry: returns on capital falling (12.0% → 9.0%). If FY27 annual OPM falls below 45% (signalling pricing power is eroding beyond seasonal compression) or management announces a second round of greenfield slippage pushing any property beyond CY29, the capacity-addition thesis collapses and the current valuation has no forward earnings to grow into. The nearest-term thing to watch: if quarterly growth slips below 7%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Leela Palaces Hotels & Resorts Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: worth studying deeper — with eyes open. The numbers lean positive, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is study deeper at 72% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.