Samhi Hotels Ltd

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.

Samhi Hotels Ltd trades at ₹180, in a downtrend and 37 weeks into that stage. That is +4.3% against its own 200-day average. It sits at 61% of a 52-week range of ₹134 to ₹209. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a downtrend — week 37 of stage 4. At ₹180 it trades +4.3% versus its 200-day average and sits at 61% of its 52-week range (₹134–₹209).

Against the market, two honest reads. Cumulative: over the last 2.9 years the stock moved +25% while the NIFTY 500 moved +35% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 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.

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.

Samhi Hotels Ltd trades at 9.7× P/E, near the bottom of its own range — cheaper only 14% of the time. Its long-run median P/E is 35.9×, measured across 1.7 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 9.7× is near the bottom of its own range — cheaper only 14% of the time, against a long-run median of 35.9× measured over 1.7 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 +485.0% against a −21.0% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

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).

Samhi Hotels 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 11 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

The latest quarter’s profit carries a one-off item larger than the operating base, so the profit curve is shown but does not vote in the stage call.

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.

4-Factor Sector Score

48.9/100 — rank 13 of 24 in Hotels · 79% evidence confidence

Samhi Hotels Ltd scores 48.9 out of 100 against the 24 companies it is compared with in Hotels, ranking 13. Price leads the evidence: RS versus the benchmark is -0.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

The four contributions add to the total exactly: 16.4 + 5.9 + 11.2 + 15.4 = 48.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Samhi Hotels Ltd reported ₹345 Cr of revenue in the Mar 26 quarter, +8.2% year on year. That is the 12th straight quarter of year-on-year growth. Over 7 years it has compounded at 14.9% a year. The last full year, FY26, came in at ₹1,248 Cr. The last four reported quarters add to ₹1,248 Cr.

FY26 revenue came in at ₹1,248 Cr (+10.4% on the year), capping 7 years at 14.9% compound. The latest quarter (Mar 26) printed ₹345 Cr, +8.2% year on year — the 12th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +11.2% growth against the decade's 14.9% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +11.1% over the last 4 quarters against +14.2%/yr over the last 8 — rolling over.

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.

Samhi Hotels Ltd's operating margin is 32.0% in the Mar 26 quarter, −6.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged −41.0% to 36.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 32.0%, −6.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged −41.0%–36.0%.

🚨 Why the margin moved: operating margin went −5.8 pp year on year while gross margin went −1.8 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.

Samhi Hotels Ltd earned ₹399 Cr of net profit in the Mar 26 quarter. That quarter carries a one-off item larger than its own revenue, so the year-on-year figure is an artefact rather than a trading result. Full-year FY26 profit was ₹567 Cr. That is 115.7% of the quarter's revenue. The same quarter a year earlier earned ₹46.0 Cr.

Mar 26 profit was ₹399 Cr, +767.4% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹567 Cr (+559.3%).

🚨 Read this profit with care: at ₹399 Cr it is larger than the whole quarter's revenue of ₹345 Cr — no operating business earns more than it sells, so this is a one-off item (a debt-to-equity conversion, a tax write-back or an asset sale), not money the business earned. The underlying operations are running at 32.0% operating margin; the year-on-year jump and any P/E built on this number are artefacts of the one-off, not a real earnings turn.

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 117% of Samhi Hotels Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹407 Cr of operating cash against ₹567 Cr of profit. After ₹453 Cr of capital spending, ₹−46.0 Cr was left as free cash.

FY26: operating cash of ₹407 Cr against reported profit of ₹567 Cr, leaving free cash of ₹−46.0 Cr after ₹453 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 117% 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 117%: the cash cycle stretched 1,565 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 5.7× 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).

Samhi Hotels Ltd's cash conversion cycle runs −321 days in FY26, up from −1,886 days in FY21. Capital spending ran ₹2,035 Cr over the last 3 years. At FY26 sales of ₹1,248 Cr each day of that cycle holds about ₹3.4 Cr, so roughly ₹−1,098 Cr sits inside the business at any moment.

FY26: debtors at 20 days, inventory at 15 days — roughly 0.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −321 days, looser than FY21's −1,886.

The full loop: cash goes out to suppliers and production on day 0; stock waits 15 days to sell; customers pay about 20 days after that; and suppliers themselves are paid at 356 days — netting out to the −321-day cycle.

In money terms: at FY26 sales of ₹1,248 Cr, each day of the cycle holds about ₹3.4 Cr — so the −321-day loop keeps roughly ₹−1,098 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹2,035 Cr over the last 3 fiscal years against ₹358 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹139 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.

Samhi Hotels Ltd earns a ROCE of 9% in FY26. That is up from a trough of −8% in FY21. Return on invested capital clears the cost of that capital by −4.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 45.4% net margin on 0.28× asset turns.

FY26 ROCE is 9%, recovered from a FY21 trough of −8% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 45.4% net margin × 0.28× asset turns × 2.04× balance-sheet leverage ≈ 25.9% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 7.6% − 12.0% = a −4.4 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. Low is the safe corner; the trend matters as much as the level.

Samhi Hotels Ltd carries total debt of ₹1,854 Cr against shareholder equity of ₹2,286 Cr as of Mar 26, a debt-to-equity of 0.81. On the annual view that ratio went from −3.40 in FY23 to 0.81 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹1,854 Cr against shareholder equity of ₹2,286 Cr — a debt-to-equity of 0.81. On the annual view, debt-to-equity went from −3.40 (FY23) to 0.81 (FY26). Read the returns on this page with that leverage in mind.

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.

Foreign institutions cut 18.8 points of Samhi Hotels Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 44.6% of the company. Domestic institutions moved −0.5 points over the same window, to 17.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −18.8 points over 8 quarters to 44.6%; Domestic institutions: −0.5 points over 8 quarters to 17.4%.

🚨 Why the register moved: foreign institutions drove it (−18.8 points), alongside domestic institutions (−0.5 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.

Samhi Hotels 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.

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