HLV Limited (HLVLTD) AI Stock Analysis

• Market Cap: ₹4.79B
• Dividend Yield: N/A
• Average Volume (3M): 40.23K
• Price to Earnings (P/E): 21.8
• Beta (1Y): 1.19
• Revenue Growth: -3.91%
• EPS Growth: -69.51%
• Country: IN
• Employees: 447
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Lodging
• EPS (TTM): 0.10
• Shares Outstanding: 659,259,900
• 10 Day Avg. Volume: 35,910
• 30 Day Avg. Volume: 40,226
• PEG Ratio: 2.85
• Price to Book (P/B): 1.77
• Price to Sales (P/S): 4.06
• P/FCF Ratio: 36.35
• 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: 59 Neutral
• Price Target: ₹7.50 ▼(-21.47% Downside)
• Action: Reiterated Date: 11/15/25
• Date: Action: Reiterated 11/15/25

HLV Limited's strong financial performance is overshadowed by technical indicators suggesting bearish momentum and a high P/E ratio indicating overvaluation. The lack of dividend yield further detracts from its appeal. The stock's current technical weakness is the most significant factor affecting its overall score.

Positive Factors

Low Leverage / Strong Equity

Very low debt-to-equity and a high equity ratio provide structural financial resilience. Low leverage reduces solvency risk in the cyclical hospitality sector, preserves borrowing capacity for renovations or acquisitions, and supports steady capital allocation without forcing asset sales during downturns.

Strong Cash Conversion

High conversion of reported earnings into operating and free cash flow indicates durable cash generation. This supports self-funding of maintenance capex and working capital, reduces reliance on external financing across travel cycles, and preserves strategic flexibility for reinvestment or shareholder returns.

Healthy Margins

Elevated gross and improved operating margins point to efficient cost structure and pricing power in operations. Sustained margins provide a durable profitability buffer against demand swings in lodging, enabling reinvestment in assets and supporting long-term return on invested capital.

Negative Factors

Negative Reported Revenue Growth

A negative top-line trend reduces scale benefits and threatens margin sustainability. Persistent revenue decline constrains free cash flow expansion, forces tougher allocation choices between growth and maintenance, and may signal weakening demand or competitive pressures in the hospitality footprint.

Modest Return on Equity

ROE near mid-single digits indicates limited efficiency in converting equity into profits. If sustained, modest ROE can mean underutilized assets or weak pricing power, slowing organic equity growth and potentially necessitating external capital for meaningful expansion or value-enhancing investments.

Sharp EPS Contraction

A very large drop in EPS signals material volatility or one-off earnings deterioration that reduces retained earnings. Continued EPS weakness hampers the company's ability to self-fund initiatives, undermines investor confidence, and raises questions about earnings quality and operational consistency over coming quarters.

HLV Limited Business Overview & Revenue Model

Company Description

HLV Limited owns and operates hotel in Mumbai. It operates The Leela hotel with 394 guest rooms. The company was formerly known as Hotel Leelaventure Limited and changed its name to HLV Limited in December 2019. HLV Limited was incorporated in 1981 and is based in Mumbai, India.

How the Company Makes Money

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HLV Limited Financial Statement Overview

Summary

HLV Limited shows strong revenue growth, efficient operations, and stable financial health. The company has low leverage, high equity levels, and solid cash flow management. However, the decline in Free Cash Flow Growth Rate and relatively modest ROE highlight areas for potential improvement.

Income Statement

HLV Limited has demonstrated strong revenue growth with a significant increase in Total Revenue from ₹1.99 billion to ₹2.18 billion, marking a growth rate of 9.71%. The Gross Profit Margin stands at 65.95%, indicating efficient cost management. Additionally, the net profit margin is 11.96%, reflecting solid profitability. The company has improved its EBIT and EBITDA Margins to 11.59% and 19.77% respectively, showing enhanced operational efficiency.

Balance Sheet

The balance sheet of HLV Limited is robust, with a Debt-to-Equity Ratio of 0.09, indicating low leverage and a strong equity base. Return on Equity is at 5.58%, which is reasonable given the industry context. The Equity Ratio is 74.06%, demonstrating financial stability and a high proportion of equity financing. However, the relatively low ROE suggests room for improvement in generating returns from equity.

Cash Flow

HLV Limited shows strong cash flow management, with a Free Cash Flow to Net Income Ratio of 0.87, indicating substantial conversion of earnings to cash. The Operating Cash Flow to Net Income Ratio is 1.29, suggesting effective cash generation from operations. However, the Free Cash Flow Growth Rate is negative, reflecting a decrease from the previous period, which could be a potential area of concern.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.01B	2.03B	1.99B	1.73B	729.97M	189.21M
Gross Profit	1.27B	1.44B	1.25B	1.00B	349.40M	-52.54M
EBITDA	398.24M	431.84M	395.27M	238.17M	-276.39M	-211.10M
Net Income	210.30M	261.30M	238.03M	76.47M	-425.10M	-359.26M
Balance Sheet
Total Assets	0.00	6.32B	5.80B	5.66B	5.60B	5.96B
Cash, Cash Equivalents and Short-Term Investments	1.38B	1.38B	1.14B	492.93M	668.77M	33.16M
Total Debt	0.00	410.60M	343.80M	327.99M	476.37M	580.17M
Total Liabilities	-4.68B	1.64B	1.36B	1.47B	1.48B	1.75B
Stockholders Equity	4.68B	4.68B	4.43B	4.19B	4.12B	4.22B
Cash Flow
Free Cash Flow	0.00	227.33M	238.23M	353.98M	-486.20M	-291.45M
Operating Cash Flow	0.00	337.20M	238.23M	353.98M	-486.20M	-291.45M
Investing Cash Flow	0.00	221.55M	-326.44M	164.07M	223.11M	107.51M
Financing Cash Flow	0.00	11.81M	-24.86M	-411.40M	261.69M	35.31M

HLV Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HLVLTD, the sentiment is Negative. The current price of 9.55 is above the 20-day moving average (MA) of 8.10, above the 50-day MA of 8.53, and below the 200-day MA of 10.99, indicating a bearish trend. The MACD of -0.33 indicates Positive momentum. The RSI at 32.97 is Neutral, neither overbought nor oversold. The STOCH value of 29.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HLVLTD.

HLV Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VHLTD	74 Outperform	₹9.59B	21.57	―	―	-11.23%	-65.46%
ADVANIHOTR	72 Outperform	₹4.73B	12.58	―	3.31%	0.14%	7.90%
ASIANHOTNR	66 Neutral	₹5.73B	-2.80	―	―	8.18%	―
KAMATHOTEL	61 Neutral	₹5.58B	10.10	―	―	9.52%	-39.66%
ROHLTD	61 Neutral	₹9.16B	31.71	―	0.61%	10.77%	-4.40%
HLVLTD	59 Neutral	₹4.79B	21.81	―	―	-3.91%	-69.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%