Leela Palaces Hotels & Resorts Ltd
THELEELALeela Palaces Hotels & Resorts Ltd's earnings have outrun its stock. EPS grew +597.7% in a year against a +30.2% price move.
The sharpest disagreement: annual EPS moved +597.7% against a +30.2% price move — the market has not yet caught up with the delivery.
The price is in a confirmed uptrend (13 weeks in) while the P/E sits at the 94th percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +444.4% year on year, and 295% of the last 2 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
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.
Leela Palaces Hotels & Resorts Ltd trades at ₹546, in a confirmed uptrend and 13 weeks into that stage. That is +15.9% against its own 200-day average. It sits at 91% of a 52-week range of ₹398 to ₹562. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 19 straight weeks.
Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹546 it trades +15.9% versus its 200-day average and sits at 91% of its 52-week range (₹398–₹562).
Against the market, two honest reads. Cumulative: over the last 1.3 years the stock moved +26% while the NIFTY 500 moved −3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 19 straight weeks — 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.
Story check
Leela Palaces Hotels & Resorts Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Leela is a post-IPO luxury hotel completing the interest-normalization leg and now growing EBITDA on ADR pricing power — but management delivered a fourth consistency gap in eight months when Bandhavgarh's opening was stated as both 'end of this year' and 'October-December 2027' in the same call.
From the numbers. The PE percentile of 67 from the historical series uses only three data points — the company had fewer than five quarters of positive PAT before listing, making the PE series too sparse for meaningful percentile work.…
From the price. Price stage 2, week 13 — above its 200-day line, relative strength rising.
From the research. Leela is a post-IPO luxury hotel completing the interest-normalization leg and now growing EBITDA on ADR pricing power — but management delivered a fourth consistency gap in eight months when Bandhavgarh's opening was…
🚨 Where they disagree. The PE percentile of 67 from the historical series uses only three data points — the company had fewer than five quarters of positive PAT before listing, making the PE series too sparse for meaningful percentile work. The cycle_normalized module correctly flagged insufficient margin history with only approximately two years of OPM data. With current trailing OPM at approximately 48% (annual average for TTM through June 2026) versus the cycle_normalized mid-cycle estimate of 50.4%, the trailing PE of approximately 42x is only slightly understating profitability. ROCE of 8.73% sits at the low end of the short available range, reflecting that the large fixed-asset base is still ramping returns…
What is proven. Leela is a post-IPO luxury hotel completing the interest-normalization leg and now growing EBITDA on ADR pricing power — but management delivered a fourth consistency gap in eight months when Bandhavgarh's opening was stated as both 'end of this year' and 'October-December 2027' in the same call.
🚨 What would change our mind. If annual OPM for FY27 falls below 45% (signalling pricing power is eroding beyond seasonal compression) or if any two greenfield properties slip past CY29, the capacity-addition thesis that justifies the current earnings multiple collapses. A Dubai property that remains at operational breakeven through the October 2026 concall — nine months after repositioning was supposed to begin — would also break the acquisition thesis and raise governance questions about disclosure at the time of the…
🚨 Layer 1 read, 22 August 2026 — DROP. The profit jump was the loan being repaid, not the hotels — and management has moved its own dates four times. Profit went from ₹48cr to ₹403cr, but ₹295cr of the ₹355cr improvement is simply interest falling from ₹122cr to ₹39cr a quarter after the IPO paid down debt — and interest has been flat for five quarters, so it cannot repeat. The hotels themselves are doing well (room rate +10%, revenue per room +17%) yet reported operating profit grew 26.7%, not the 41% management headlined, with margin slipping 37% to 36%. Meanwhile the Dubai hotel bought on roughly $40m of stated earnings has been at break-even for nine months with no number ever given, and Bandhavgarh got two opening dates 12-18 months apart in the same call.
What would change Layer 1’s mind. The September-2026 quarter is the test on both legs. An operating margin at or above 40% in that weak season (against 44% in September-2025) with reported operating profit growth back above 30% would show the hotels can carry the story now that the interest saving is finished, and would move this to P1. The opposite — margin below 36% while the October-2026 call again gives no Dubai EBITDA figure, making it a third consecutive call of silence on an asset bought at a stated ~$40m of earnings…
🚨 What the surface reading misses. The surface reading is: Debt reduction of ₹2,642 crore — good progress on deleveraging The research reads it further: The reduction was funded entirely by IPO equity capital, not free cash flow. OCF over FY24-FY26 was approximately ₹1,869 crore aggregate. The IPO unlocked the debt trap; organic cash generation alone would not have achieved this pace. Future interest savings from further deleveraging are now very limited.
🚨 What the surface reading misses. The surface reading is: Management is being transparent about near-term Dubai challenges The research reads it further: The October 2025 announcement cited $40M EBITDA as the basis for a 12.8x entry multiple — that was the investment thesis pillar. Breakeven nine months later means the acquisition delivered zero near-term EBITDA against a $49-70 million equity commitment.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Leela Palaces Hotels & Resorts Ltd reported ₹352 Cr of revenue in the Jun 26 quarter, +28.0% year on year. That is the 5th straight quarter of year-on-year growth. Over 3 years it has compounded at 21.1% a year. The last full year, FY26, came in at ₹1,527 Cr. The last four reported quarters add to ₹1,604 Cr.
FY26 revenue came in at ₹1,527 Cr (+17.4% on the year), capping 3 years at 21.1% compound. The latest quarter (Jun 26) printed ₹352 Cr, +28.0% year on year — the 5th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +19.4% growth against the decade's 21.1% — the current year is running slower than its own long-run rate.
FY26-Q4. revenue ₹484 Cr and profit ₹172 Cr as reported.
FY27-Q1. revenue ₹352 Cr and profit ₹49 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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.
Leela Palaces Hotels & Resorts Ltd's operating margin is 36.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 44.0% to 48.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 36.0%, −1.0 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 44.0%–48.0%.
🚨 Why the margin moved: operating margin went −0.6 pp year on year while gross margin went −0.6 pp — the loss came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹484 Cr and profit ₹172 Cr as reported.
FY27-Q1. revenue ₹352 Cr and profit ₹49 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Leela Palaces Hotels & Resorts Ltd earned ₹49.0 Cr of net profit in the Jun 26 quarter, +444.4% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹403 Cr. That is 13.9% of the quarter's revenue. The same quarter a year earlier earned ₹9.0 Cr. 2 of the last 9 reported quarters were loss-making.
Jun 26 profit was ₹49.0 Cr, +444.4% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹403 Cr (+739.6%).
Why profit moved: revenue contributed +28.0% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +218.6% vs revenue +19.4%. 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.
FY26-Q4. revenue ₹484 Cr and profit ₹172 Cr as reported.
FY27-Q1. revenue ₹352 Cr and profit ₹49 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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 2 fiscal years 295% of Leela Palaces Hotels & Resorts Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹777 Cr of operating cash against ₹403 Cr of profit. After ₹1,114 Cr of capital spending, ₹−337 Cr was left as free cash.
FY26: operating cash of ₹777 Cr against reported profit of ₹403 Cr, leaving free cash of ₹−337 Cr after ₹1,114 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 295% 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 295%: the cash cycle tightened 11 days between FY23 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 6.4× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Leela Palaces Hotels & Resorts Ltd's cash conversion cycle runs 19 days in FY26, down from 30 days in FY23. Capital spending ran ₹2,552 Cr over the last 3 years. At FY26 sales of ₹1,527 Cr each day of that cycle holds about ₹4.2 Cr, so roughly ₹79.0 Cr sits inside the business at any moment.
Why this happened. The portfolio reached 25 properties and 5,257 keys in Q1 FY27. Six owned greenfield properties remain under construction — Bandhavgarh, Srinagar, Agra, Ayodhya, Sikkim, and Ranthambore — targeting CY28 openings. In CY27, Jaisalmer and Mumbai Residences are expected early, with Srinagar and Bandhavgarh in Q4 of CY27. The Tadoba concession (₹120 crore project, 60-year tenure, mid-teens internal rate of return) adds a premium wildlife destination and anchors a potential trail with Bandhavgarh and Ranthambore. Coorg was rebranded as The Leela Coorg Forest Sanctuary in July 2026 ahead of schedule, with ADR nearly doubling post-acquisition and EBITDA turning positive. HMA fees reached ₹262…
FY26: debtors at 19 days, inventory at 112 days — roughly 3.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 19 days, tighter than FY23's 30.
The full loop: cash goes out to suppliers and production on day 0; stock waits 112 days to sell; customers pay about 19 days after that; and suppliers themselves are paid at 258 days — netting out to the 19-day cycle.
In money terms: at FY26 sales of ₹1,527 Cr, each day of the cycle holds about ₹4.2 Cr — so the 19-day loop keeps roughly ₹79.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹2,552 Cr over the last 3 fiscal years against ₹401 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹229 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
Leela Palaces Hotels & Resorts Ltd earns a ROCE of 9% in FY26. Return on invested capital clears the cost of that capital by −5.1 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 26.4% net margin on 0.17× asset turns.
FY26 ROCE is 9%.
🚨 Why the return is what it is — the wiring (FY26): 26.4% net margin × 0.17× asset turns × 1.39× balance-sheet leverage ≈ 6.2% 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: 6.9% − 12.0% = a −5.1 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. Low is the safe corner; the trend matters as much as the level.
Leela Palaces Hotels & Resorts Ltd carries total debt of ₹1,811 Cr against shareholder equity of ₹6,453 Cr as of Mar 26, a debt-to-equity of 0.28 — effectively unlevered. On the annual view that ratio went from 1.15 in FY25 to 0.28 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Why this happened. Leela's peak borrowings of ₹4,453 crore at March 2024 were funded at high hotel-project rates. The FY25 IPO generated financing inflows of ₹5,236 crore, applied to retire debt in FY26. Quarterly interest settled at ₹38-40 crore by FY26, saving approximately ₹300 crore annually versus the pre-IPO run-rate. Q1 FY27 interest remained at ₹39 crore — the normalization is complete. At current borrowings of approximately ₹1,811 crore, further interest savings require either fresh debt retirement from operating cash flow (modest) or a decline in interest rates. The Tadoba concession and BKC capex could add modest debt. This driver powered the FY26 PAT turnaround but is not a meaningful growth…
Mar 26: total debt of ₹1,811 Cr against shareholder equity of ₹6,453 Cr — a debt-to-equity of 0.28. On the annual view, debt-to-equity went from 1.15 (FY25) to 0.28 (FY26). The returns on this page are earned, not borrowed.
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.
Domestic institutions added 1.6 points of Leela Palaces Hotels & Resorts Ltd over 4 quarters, the biggest move on the register. That takes domestic institutions to 11.5% of the company. Foreign institutions moved −0.8 points over the same window, to 7.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +1.6 points over 4 quarters to 11.5%; Foreign institutions: −0.8 points over 4 quarters to 7.9%; Promoters: +0.0 points over 4 quarters to 75.9%.
Why the register moved: domestic institutions drove it (+1.6 points), absorbed on the other side by foreign institutions (−0.8 points) — steady accumulation by institutions reading the same numbers this page reads.
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.
Leela Palaces Hotels & Resorts 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.
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.
Leela Palaces Hotels & Resorts Ltd trades at 40.4× P/E, at the pricey end of its own range (94th percentile). Its long-run median P/E is 37.9×, measured across 0.7 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 40.4× is at the pricey end of its own range (94th percentile), against a long-run median of 37.9× measured over 0.7 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +597.7% against a +30.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is full 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.
Solved at its 24 August 2026 price, Leela Palaces Hotels & Resorts Ltd was paying for profit growth of about 26.8% a year. Today the market pays 40.4× P/E, the 94th percentile of its own 1-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is the whole of what a buyer is backing.
How to hold this number: it is a reading of one day's price, taken on 24 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 28 September 2026. 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.
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).
Leela Palaces Hotels & Resorts 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 5 quarters across 1 curve, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
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 | +17.4% | +21.1% | — | — |
| Profit | +739.6% | — | — | — |
| EPS | +597.7% | — | — | — |
| Share price | +30.2% | — | — | — |
4-Factor Sector Score
60.5/100 — rank 4 of 24 in Hotels · 93% evidence confidence
Leela Palaces Hotels & Resorts Ltd scores 60.5 out of 100 against the 24 companies it is compared with in Hotels, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 24.6 + 9.3 + 7.7 + 18.9 = 60.5. 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.
Said versus delivered
What Leela Palaces Hotels & Resorts Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Bandhavgarh Opening Timeline Is Unclear · 31 July 2026. The January 2026 call indicated that Srinagar and Bandhavgarh were expected to open very early in FY28. In the July 2026 call, management first said Bandhavgarh would open by the end of the year, but later placed both Srinagar and Bandhavgarh in Q4, October-December 2027, without reconciling the materially different timelines.
Dubai Hotel Performance Deterioration · 28 April 2026. When announcing the Dubai acquisition in the Oct 2025 call, management described the hotel as currently generating approximately $40 million in EBITDA, consistent with the deal's stated 12.8x CY25 EBITDA entry multiple and a core pillar of the investment thesis. However, the Apr 2026 call reveals the hotel is now focused merely on breaking even operationally—a dramatic and unexplained decline from $40M+ EBITDA to near-zero profitability within six months of closing the acquisition. Earlier call (Oct 2025): “The hotel is currently generating approximately $40 odd millions of EBITDA.” Later call (Apr 2026): “Our hotel remains in operation and we are focused on breaking even operationally.”
🚨 Dubai Rebranding Timeline Pushed Back by One Year · 28 April 2026. In the Oct 2025 call at the time of the Dubai acquisition announcement, management explicitly stated the property would be rebranded to The Leela brand in 2027, the milestone at which management fee income was expected to commence. The Apr 2026 call confirms the launch is now planned for 2028, a full one-year delay in a key revenue trigger, with no explanation provided for the slip. Earlier call (Oct 2025): “It would be rebranded post renovations to The Leela brand in 2027.” Later call (Apr 2026): “Our plan to start repositioning work by the end of this calendar year remains, with a plan to launch the property in 2028 under the Leela brand.”
🚨 Greenfield Portfolio Opening Timeline Slipping from FY28 to CY28 · 28 April 2026. In the Jan 2026 call, management committed to opening all pipeline properties within FY28 (year ending March 2028). In the Apr 2026 call, an analyst directly flagged a shift to CY28 for Ayodhya, Agra, and others—potentially as late as December 2028, representing up to a nine-month delay. Management conceded that 'one or two quarters of construction always moves' without denying the FY28-to-CY28 shift, while simultaneously asserting properties are 'on pace,' a contradictory stance with direct implications for the Rs. 2,000 crore FY30 EBITDA target timeline. Earlier call (Jan 2026): “I can see that even in FY28, all our assets are spread in such a way so that we can open hot.” Later call (Apr 2026): “Regarding these three hotels, one or two quarters of construction always moves because of approvals. All approvals for these three hotels are already in place, funding is in place, and construction has started. It is all on pace.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Chalet Hotels LtdCHALET | 71.3/100Favorable setup94% evidence | BREAKING OUT | 25.4/35 Revenue 6% · PAT 85.3% · OPM change 6 pp 100% evidence | 15.9/25 ROCE 17% · OPM 46% 100% evidence | 15.8/20 P/E 35.7× · PEG 0.83 100% evidence | 14.2/20 RS sector 3.6% · RS bench 7.1% · 1Y -14.4%6 of 11 weeks ahead 70% evidence |
| Exact sum: 25.4 + 15.9 + 15.8 + 14.2 = 71.3 · 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 6.7× · PEG — 15% evidence | 8.3/20 RS sector -25% · RS bench 38.5% · 1Y —5 of 12 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. | ||||||
| 3Indian Hotels Co LtdINDHOTEL | 61.2/100Mixed-positive evidence82% evidence | BREAKING OUT | 20.2/35 Revenue 13.2% · PAT 9.5% · OPM change 1 pp 95% evidence | 17.1/25 ROCE 17.1% · OPM 29% 76% evidence | 10.1/20 P/E 53.2× · PEG — 50% evidence | 13.8/20 RS sector 3.5% · RS bench 7.1% · 1Y -6.3%8 of 12 weeks ahead 100% evidence |
| Exact sum: 20.2 + 17.1 + 10.1 + 13.8 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Leela Palaces Hotels & Resorts Ltdthis pageTHELEELA | 60.5/100Mixed-positive evidence93% evidence | LEADER | 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 40.4× · PEG 1.65 65% evidence | 18.9/20 RS sector 19.3% · RS bench 23.7% · 1Y 30.1%12 of 12 weeks ahead 100% evidence |
| Exact sum: 24.6 + 9.3 + 7.7 + 18.9 = 60.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Oriental Hotels LtdORIENTHOT | 60.0/100Mixed-positive evidence93% evidence | FADING | 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 | 14.0/20 P/E 37.5× · PEG 0.66 65% evidence | 17.2/20 RS sector 21.9% · RS bench 25.9% · 1Y 2.4%11 of 12 weeks ahead 100% evidence |
| Exact sum: 17.4 + 11.4 + 14 + 17.2 = 60 · Decision use: Price leads the evidence: RS versus the benchmark is 25.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 6TajGVK Hotels & Resorts LtdTAJGVK | 56.7/100Mixed-positive evidence87% evidence | TURNING | 21.3/35 Revenue 22.5% · PAT 100% · OPM change 0 pp 100% evidence | 12.9/25 ROCE 13.3% · OPM 30% 100% evidence | 14.3/20 P/E 14.2× · PEG 0.85 65% evidence | 8.2/20 RS sector -3.6% · RS bench -7.5% · 1Y -24.6%6 of 12 weeks ahead 70% evidence |
| Exact sum: 21.3 + 12.9 + 14.3 + 8.2 = 56.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Travel Food Services LtdTRAVELFOOD | 55.5/100Mixed-positive evidence69% evidence | ASLEEP | 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 | 9.6/20 P/E 33.4× · PEG — 15% evidence | 8.5/20 RS sector -4.6% · RS bench -1.1% · 1Y -6%3 of 12 weeks ahead 70% evidence |
| Exact sum: 16.2 + 21.2 + 9.6 + 8.5 = 55.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Juniper Hotels LtdJUNIPER | 52.6/100Mixed-positive evidence93% evidence | BREAKING OUT | 23.3/35 Revenue 11.4% · PAT 100% · OPM change -1 pp 100% evidence | 6.4/25 ROCE 8% · OPM 35% 100% evidence | 10.8/20 P/E 25.9× · PEG 1.29 65% evidence | 12.1/20 RS sector -4.1% · RS bench -0.9% · 1Y -29.5%4 of 12 weeks ahead 100% evidence |
| Exact sum: 23.3 + 6.4 + 10.8 + 12.1 = 52.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9ITC Hotels LtdITCHOTELS | 52.2/100Mixed-positive evidence93% evidence | ASLEEP | 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 36.5× · PEG 1.15 65% evidence | 7.3/20 RS sector -9.2% · RS bench -6.3% · 1Y -31.6%1 of 12 weeks ahead 100% evidence |
| Exact sum: 23.4 + 10.7 + 10.8 + 7.3 = 52.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Benares Hotels LtdBENARAS | 52.2/100Mixed-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 | 7.0/20 P/E 30.2× · PEG — 50% evidence | 15.1/20 RS sector 12.1% · RS bench 6.6% · 1Y 7.4%4 of 12 weeks ahead 70% evidence | |
| Exact sum: 9.1 + 21 + 7 + 15.1 = 52.2 · Decision use: Price leads the evidence: RS versus the benchmark is 6.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 11Lemon Tree Hotels LtdLEMONTREE | 50.5/100Mixed-positive evidence69% evidence | ASLEEP | 18.9/35 Revenue 10.4% · PAT 9.6% · OPM change -1 pp 95% evidence | 16.4/25 ROCE 14.1% · OPM 43% 76% evidence | 9.7/20 P/E 32.2× · PEG — 15% evidence | 5.5/20 RS sector -8.5% · RS bench -14.6% · 1Y -38.6%0 of 11 weeks ahead 70% evidence |
| Exact sum: 18.9 + 16.4 + 9.7 + 5.5 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Kamat Hotels (India) LtdKAMATHOTEL | 48.7/100Mixed-negative evidence81% evidence | BREAKING OUT | 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 | 10.5/20 P/E 16.4× · PEG — 50% evidence | 7.9/20 RS sector -20.6% · RS bench 16.5% · 1Y -23.8%8 of 12 weeks ahead 70% evidence |
| Exact sum: 13.4 + 16.9 + 10.5 + 7.9 = 48.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13U P Hotels LtdUPHOT | 47.6/100Mixed-negative evidence76% evidence | 7.1/35 Revenue 1.4% · PAT -6% · OPM change -6.5 pp 95% evidence | 16.5/25 ROCE 21.7% · OPM 11.2% 76% evidence | 10.9/20 P/E 25.6× · PEG — 50% evidence | 13.1/20 RS sector 1.2% · RS bench 10.8% · 1Y -3.8%0 of 12 weeks ahead 70% evidence | |
| Exact sum: 7.1 + 16.5 + 10.9 + 13.1 = 47.6 · Decision use: Price leads the evidence: RS versus the benchmark is 10.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 14EIH LtdEIHOTEL | 47.0/100Mixed-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 | 13.9/20 P/E 25.4× · PEG — 50% evidence | 2.7/20 RS sector -12.3% · RS bench -9.4% · 1Y -24.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12.1 + 18.3 + 13.9 + 2.7 = 47 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 15Advent Hotels International LtdADVENTHTL | 46.3/100Mixed-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 | 11.1/20 P/E 14.1× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —0 of 11 weeks ahead 0% evidence |
| Exact sum: 16.7 + 8.5 + 11.1 + 10 = 46.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Ventive Hospitality LtdVENTIVE | 44.7/100Mixed-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 27× · PEG — 15% evidence | 1.4/20 RS sector -15.8% · RS bench -12.8% · 1Y -26.5%0 of 12 weeks ahead 100% evidence |
| Exact sum: 20.9 + 12.3 + 10.1 + 1.4 = 44.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Viceroy Hotels LtdVHLTD | 43.5/100Mixed-negative evidence79% evidence | TURNING | 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 | 7.6/20 P/E 42.2× · PEG — 50% evidence | 7.2/20 RS sector -6.7% · RS bench 1.9% · 1Y 4.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 20.7 + 8 + 7.6 + 7.2 = 43.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Asian Hotels (North) LtdASIANHOTNR | 43.1/100Thin evidence · provisional56% evidence | TURNING | 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 122× · PEG — 15% evidence | 16.1/20 RS sector 8.5% · RS bench 28.8% · 1Y 21.4%4 of 11 weeks ahead 70% evidence |
| Exact sum: 14 + 4.5 + 8.5 + 16.1 = 43.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 19Sayaji Hotels LtdSAYAJIHOTL | 42.2/100Mixed-negative evidence63% evidence | BREAKING OUT | 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 | 15.2/20 RS sector 8.5% · RS bench 14.8% · 1Y 10.9%9 of 11 weeks ahead 70% evidence |
| Exact sum: 12.7 + 4.3 + 10 + 15.2 = 42.2 · Decision use: Price leads the evidence: RS versus the benchmark is 14.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 20Samhi Hotels LtdSAMHI | 41.5/100Mixed-negative evidence83% evidence | BASING | 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 8.4× · PEG — 15% evidence | 4.6/20 RS sector -7.3% · RS bench -4.3% · 1Y -23.9%5 of 12 weeks ahead 100% evidence |
| Exact sum: 19.2 + 6.5 + 11.2 + 4.6 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21EIH Associated Hotels LtdEIHAHOTELS | 38.9/100Mixed-negative evidence87% evidence | BASING | 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 | 13.1/20 P/E 20× · PEG — 50% evidence | 4.0/20 RS sector -11.8% · RS bench -8.7% · 1Y -25.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 7.2 + 14.6 + 13.1 + 4 = 38.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 22Royal Orchid Hotels LtdROHLTD | 37.1/100Mixed-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 31.7× · PEG — 50% evidence | 5.0/20 RS sector -9.8% · RS bench -13% · 1Y -38.8%0 of 11 weeks ahead 70% evidence |
| Exact sum: 12.5 + 11.9 + 7.7 + 5 = 37.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Apeejay Surrendra Park Hotels LtdPARKHOTELS | 31.1/100Adverse 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 | 4.4/20 P/E 34.8× · PEG 3.5 65% evidence | 5.2/20 RS sector -9.8% · RS bench -14% · 1Y -33.5%0 of 11 weeks ahead 70% evidence |
| Exact sum: 12.3 + 9.2 + 4.4 + 5.2 = 31.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24HLV LtdHLVLTD | 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 -41.2%0 of 1 week 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 Leela Palaces Hotels & Resorts Ltd's share price today?
Leela Palaces Hotels & Resorts Ltd trades at ₹546, +30.2% over the past year. The company is valued at ₹18,127 Cr. The stock sits at 91% of its 52-week range of ₹398–₹562, +15.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 13 weeks in. — as of 28 September 2026.
What were Leela Palaces Hotels & Resorts Ltd's latest quarterly results?
Leela Palaces Hotels & Resorts Ltd reported revenue of ₹352 Cr and net profit of ₹49.0 Cr for the Jun 26 quarter. Revenue rose 28.0% and profit rose 444.4% year on year. Earnings per share were ₹1.46. The operating margin was 36.0%, 1.0 pp lower than a year earlier. — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's revenue?
Leela Palaces Hotels & Resorts Ltd reported revenue of ₹352 Cr in the Jun 26 quarter, +28.0% year on year. For the full FY26 fiscal year, revenue was ₹1,527 Cr (+17.4%). Over the last 3 years revenue compounded at 21.1% a year. — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's profit?
Leela Palaces Hotels & Resorts Ltd earned ₹49.0 Cr of net profit in the Jun 26 quarter, +444.4% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹403 Cr. The operating margin ran 36.0% in the latest quarter. — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's market cap?
Leela Palaces Hotels & Resorts Ltd's market capitalisation is ₹18,127 Cr at a share price of ₹546. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's P/E ratio?
Leela Palaces Hotels & Resorts Ltd trades at a P/E of 40.4×, at the 94th percentile of its own 1-year range, against a long-run median of 37.9×. This is a comparison with the stock's own history, not a value call — as of 28 September 2026.
Does Leela Palaces Hotels & Resorts Ltd pay a dividend?
No — Leela Palaces Hotels & Resorts Ltd has recorded a dividend payout of 0% of profit in each of its last 4 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd overvalued?
On its own history, Leela Palaces Hotels & Resorts Ltd looks expensive: its P/E of 40.4× sits at the 94th percentile of its 1-year range (long-run median 37.9×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd growing?
Yes — Leela Palaces Hotels & Resorts Ltd is growing: latest-quarter revenue +28.0% year on year, profit +444.4%, and the margin −1.0 pp at 36.0%. The earnings engine currently reads: improving — as of 28 September 2026.
How is Leela Palaces Hotels & Resorts Ltd performing?
Leela Palaces Hotels & Resorts Ltd is in a confirmed uptrend, 13 weeks in. Its latest quarter's revenue rose 28.0% and profit rose 444.4% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 19 weeks. — as of 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 13 of stage 2), trading +15.9% versus its 200-day average and at 91% 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 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd beating the market?
On recent form, yes — Leela Palaces Hotels & Resorts Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 19 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.3 years the stock moved +26% against the NIFTY 500's −3% — ahead of the index over the full window. — as of 28 September 2026.
Will Leela Palaces Hotels & Resorts Ltd's share price go up?
This page publishes no price forecast for Leela Palaces Hotels & Resorts Ltd. What it measures instead: the share price is ₹546, the price is in a confirmed uptrend 13 weeks in. Its P/E of 40.4× sits at the 94th percentile of its own 1-year range. — as of 28 September 2026.
Who owns Leela Palaces Hotels & Resorts Ltd?
Promoters hold 75.9% of Leela Palaces Hotels & Resorts Ltd, foreign institutions 7.9%, domestic institutions 11.5% and the public 4.7% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 1.6 points over 4 quarters. — as of 28 September 2026.
Does Leela Palaces Hotels & Resorts Ltd have too much debt?
No — Leela Palaces Hotels & Resorts Ltd's debt-to-equity is 0.28, and operating profit covers the interest bill 4×. FY26 borrowings were ₹1,811 Cr against equity of ₹6,404 Cr. The returns on this page are earned, not borrowed — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's capex?
Leela Palaces Hotels & Resorts Ltd spent ₹2,552 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 ₹1,114 Cr, with ₹229 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 28 September 2026.
What is Leela Palaces Hotels & Resorts Ltd's cash flow?
Leela Palaces Hotels & Resorts Ltd generated ₹777 Cr of operating cash flow in FY26 and ₹−337 Cr of free cash flow after ₹1,114 Cr of capital spending. Reported profit that year was ₹403 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd's profit real cash?
Yes — over the last 2 fiscal years, 295% of Leela Palaces Hotels & Resorts Ltd's reported profit arrived as operating cash. Though the latest year ran at 193% — the trend is the thing to watch. In FY26, operating cash was ₹777 Cr against reported profit of ₹403 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 28 September 2026.
Where is Leela Palaces Hotels & Resorts Ltd in its business cycle?
Leela Palaces Hotels & Resorts Ltd's FY26 operating margin was 48.0%, against a 4-year band of 44.0%–48.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 36.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 28 September 2026.
What growth does Leela Palaces Hotels & Resorts Ltd's price assume?
At its price on 24 August 2026, Leela Palaces Hotels & Resorts Ltd was priced for profit growth of about 26.8% a year. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 28 September 2026.
What could break the Leela Palaces Hotels & Resorts Ltd story?
The sharpest disagreement: annual EPS moved +597.7% against a +30.2% price move — the market has not yet caught up with the delivery. 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 28 September 2026.
Is Leela Palaces Hotels & Resorts Ltd a stock worth studying right now?
This is not investment advice. The machine read: Leela Palaces Hotels & Resorts Ltd's earnings have outrun its stock. EPS grew +597.7% in a year against a +30.2% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 28 September 2026.
Not SEBI Registered !! Not Investment advice !!