Asian Hotels (West) Limited (AHLWEST) AI Stock Analysis

• Market Cap: ₹1.65B
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 422
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Lodging
• EPS (TTM): 20.95
• Shares Outstanding: 11,651,210
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: <0.01
• Price to Book (P/B): -2.15
• Price to Sales (P/S): 0.41
• P/FCF Ratio: 1.43
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: ―

The score is primarily held back by balance-sheet fragility (negative equity and high debt), despite improving profitability and consistently positive free cash flow. Technical and valuation inputs were not available, limiting confidence in momentum and pricing-based assessment.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market expansion and increased demand for services, supporting long-term business viability.

Cash Generation

Consistent cash generation enhances financial stability and provides flexibility for reinvestment and debt servicing.

Board Restructuring

Board restructuring with experienced leadership can improve strategic direction and governance, positively impacting long-term performance.

Negative Factors

Balance Sheet Fragility

Negative equity and high leverage increase financial risk, limiting resilience and flexibility in economic downturns.

Adverse Auditor Opinion

An adverse auditor opinion raises concerns about financial reporting reliability, potentially affecting investor confidence and creditworthiness.

Earnings Volatility

Volatile earnings history undermines confidence in financial stability, complicating long-term planning and investment.

Asian Hotels (West) Limited Business Overview & Revenue Model

Company Description

Asian Hotels (West) Limited, together with its subsidiaries, engages in the hotel business in India. It owns and operates the Hotel Hyatt Regency in Mumbai; and the JW Marriott Hotel, a five-star deluxe hotel with 523 rooms in New Delhi. The company was formerly known as Chillwinds Hotels Limited and changed its name to Asian Hotels (West) Limited in February 2010. Asian Hotels (West) Limited was incorporated in 2007 and is based in New Delhi, India.

How the Company Makes Money

AHLWEST generates revenue primarily through the hospitality services it offers, including room bookings, food and beverage sales, and event hosting. The company benefits from diverse revenue streams such as direct bookings through its website and mobile apps, partnerships with online travel agencies, and corporate contracts for business travel. Additionally, AHLWEST capitalizes on ancillary services like spa and wellness offerings, catering, and conference facilities. Strategic alliances with travel agencies and corporate clients further enhance its market presence and contribute to steady revenue growth.

Asian Hotels (West) Limited Financial Statement Overview

Summary

Income statement shows a meaningful recovery (revenue scaled to ₹4.11B in FY2025 and net margin rebounded to ~9.7% with strong gross margins), and cash flow is solid (FY2025 operating cash flow ~₹1.38B and free cash flow ~₹1.18B). However, the balance sheet is a major constraint: negative equity (FY2025: -₹0.78B) and very high debt (~₹9.15B) elevate financial risk and reduce resilience in a cyclical lodging business.

Income Statement

Revenue has scaled meaningfully (₹1.48B in FY2022 to ₹4.11B in FY2025) with FY2025 growth of ~9.5%. Profitability improved sharply versus FY2024 as net margin rebounded to ~9.7% (from ~1.5%), while gross margins remain strong (~77.5% in FY2025). Offsetting this, earnings have been volatile across the cycle (large losses in FY2021–FY2022 and very low profits in FY2020/FY2024), which reduces confidence in consistency despite solid recent-year operating profitability.

Balance Sheet

The balance sheet is the key weak point: stockholders’ equity is negative in recent years (FY2025: -₹0.78B; FY2024: -₹1.18B), which signals cumulative balance sheet strain and limits financial flexibility. Total debt remains very high (FY2025: ~₹9.15B) relative to the business size, and the debt-to-equity figure is distorted/negative due to negative equity—still implying elevated leverage risk. Total assets are roughly stable (~₹9.7B–₹10.1B recently), but the capital structure is pressured and makes the company more sensitive to downturns and refinancing costs.

Cash Flow

Cash generation is a relative strength: operating cash flow has been consistently positive and healthy (FY2025: ~₹1.38B), supporting positive free cash flow (FY2025: ~₹1.18B). Free cash flow tracks earnings reasonably well in FY2025 (free cash flow is ~85% of net income), suggesting profits are not purely accounting-driven. The main concern is that operating cash flow covers only a modest portion of total debt (roughly ~27% in FY2025), indicating debt remains heavy versus cash generation capacity.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2022	Dec 2020
Income Statement
Total Revenue	3.75B	4.11B	3.70B	1.48B	3.19B	1.24B
Gross Profit	2.51B	3.18B	2.50B	783.72M	2.07B	577.55M
EBITDA	1.04B	1.53B	1.28B	309.21M	1.49B	91.46M
Net Income	18.73M	397.97M	55.06M	-1.18B	324.39M	-1.49B
Balance Sheet
Total Assets	0.00	9.68B	10.06B	9.84B	9.93B	10.64B
Cash, Cash Equivalents and Short-Term Investments	265.06M	591.06M	769.05M	122.14M	504.33M	316.74M
Total Debt	0.00	9.15B	9.99B	10.04B	9.59B	10.06B
Total Liabilities	819.32M	10.46B	11.24B	11.39B	11.16B	11.02B
Stockholders Equity	-819.32M	-780.08M	-1.18B	-1.55B	-1.23B	-377.65M
Cash Flow
Free Cash Flow	0.00	1.18B	1.45B	687.14M	1.50B	105.40M
Operating Cash Flow	0.00	1.38B	1.52B	704.58M	1.55B	182.63M
Investing Cash Flow	0.00	11.40M	-87.09M	220.97M	-43.28M	314.71M
Financing Cash Flow	0.00	-1.51B	-1.24B	-945.00M	-1.17B	-612.12M

Asian Hotels (West) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VHLTD	74 Outperform	₹9.17B	48.01	―	―	-11.23%	-65.46%
ADVANIHOTR	72 Outperform	₹5.24B	22.20	―	3.31%	0.14%	7.90%
SPECIALITY	56 Neutral	₹5.03B	23.39	―	0.87%	6.66%	-21.40%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
AHLEAST	53 Neutral	₹2.33B	168.63	―	0.74%	6.51%	-94.16%
AHLWEST	49 Neutral	₹1.65B	―	―	―	―	―

Asian Hotels (West) Limited Corporate Events

Asian Hotels (West) Limited Announces Financial Results and Board Restructuring

Asian Hotels (West) Limited announced the approval of its audited financial results for the year ending March 31, 2025, and unaudited results for the quarter ending June 30, 2025, despite receiving an adverse opinion from its auditors. The company also made significant board changes, appointing Mr. Rohit Rajpal as an Additional Director and redesignating Mr. Amit Saraf as Whole Time Director, alongside reconstituting its Nomination and Remuneration and Audit Committees.