Lancor Holdings Limited (LANCORHOL) AI Stock Analysis

• Market Cap: ₹1.48B
• Dividend Yield: 0.8%
• Average Volume (3M): 46.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: 4.65%
• EPS Growth: -137.16%
• Country: IN
• Employees: 105
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): -0.03
• Shares Outstanding: 73,550,560
• 10 Day Avg. Volume: 6,506
• 30 Day Avg. Volume: 46,602
• PEG Ratio: -0.88
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 0.92
• P/FCF Ratio: -2.34
• 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: ₹18.00 ▼(-26.80% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is held back primarily by weak cash flow generation and low profitability despite strong revenue growth. Technicals are also poor with a pronounced downtrend and bearish momentum. Valuation is mixed due to a negative P/E and only a modest dividend yield.

Positive Factors

Top-line Growth

Sustained high revenue growth (reported at 37.08%) signals expanding demand and successful project execution in the development cycle. Over 2–6 months this underpins booking momentum, supports scale benefits, and provides a foundation to improve margins and reinvest in projects.

Healthy Gross & EBIT Margins

A 34% gross margin and mid-teens EBIT margin indicate structural pricing power and project-level profitability in real estate development. These margins create a durable buffer against cost swings, enabling the company to sustain operations and fund development even if top-line growth moderates.

Balanced Capital Structure

A moderate D/E (~0.78) and near-50% equity ratio point to a conservative leverage stance for a developer. This balance provides financial flexibility to fund projects or absorb shocks without immediate refinancing, supporting longer-term project delivery and capital allocation decisions.

Negative Factors

Weak Cash Conversion

Persistent negative operating and free cash flow highlight difficulty converting accounting profits into cash, a structural risk in development cycles. Over months this limits self-funding of projects, increases reliance on external financing, and raises execution and liquidity risk for new launches.

Low Net Profitability & Returns

A low net margin (~2.5%) and ROE (~2.4%) show weak ability to translate revenue into shareholder returns. Structurally this constrains retained earnings, reduces reinvestment capacity, and may force higher leverage or equity raises to finance growth, diluting long-term returns.

Inconsistent Revenue Trend

Conflicting growth indicators (a negative fundamentals growth metric vs a reported 37% year figure) point to volatility or lumpy recognition in project revenues. This makes forecasting cash flows and financing needs harder and raises execution risk across the development pipeline.

Lancor Holdings Limited Business Overview & Revenue Model

Company Description

Lancor Holdings Limited, together with its subsidiaries, engages in the development of residential and commercial properties in India. It is also involved in the leasing of commercial properties and allied activities; and provision of maintenance services. The company was formerly known as DBS Properties Limited. The company was incorporated in 1985 and is based in Chennai, India.

How the Company Makes Money

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Lancor Holdings Limited Financial Statement Overview

Summary

Strong revenue growth (37.08%) and a healthy gross margin (34.15%) are positives, but low net margin (2.46%) and weak ROE (2.39%) limit quality of earnings. Cash flow is the main drag, with negative operating cash flow and negative free cash flow metrics indicating poor cash conversion.

Income Statement

Lancor Holdings Limited has shown a strong revenue growth rate of 37.08% in the most recent year, indicating robust top-line expansion. However, the net profit margin remains low at 2.46%, suggesting challenges in converting revenue growth into bottom-line profitability. The gross profit margin of 34.15% is healthy, but there is room for improvement in operational efficiency as indicated by the EBIT margin of 15.26%.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.78, reflecting a balanced approach to leveraging. However, the return on equity is relatively low at 2.39%, indicating limited returns for shareholders. The equity ratio of 46.45% suggests a stable capital structure, but there is potential risk if debt levels increase.

Cash Flow

Lancor Holdings faces challenges in cash flow management, with negative free cash flow growth and a negative operating cash flow in the latest period. The operating cash flow to net income ratio is negative, highlighting difficulties in generating cash from operations. The free cash flow to net income ratio is also negative, indicating cash flow issues that need addressing.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.73B	1.90B	1.38B	1.15B	1.03B	521.50M
Gross Profit	527.79M	647.62M	409.30M	383.95M	198.54M	255.65M
EBITDA	222.79M	328.17M	251.68M	231.31M	63.10M	137.19M
Net Income	-44.51M	46.71M	67.47M	-3.39M	-169.91M	-115.72M
Balance Sheet
Total Assets	4.34B	4.21B	3.20B	3.05B	3.32B	3.74B
Cash, Cash Equivalents and Short-Term Investments	96.03M	22.23M	40.92M	61.19M	45.81M	39.39M
Total Debt	1.26B	1.53B	950.23M	1.10B	1.74B	2.06B
Total Liabilities	2.37B	2.25B	1.83B	1.75B	2.01B	2.26B
Stockholders Equity	1.96B	1.96B	1.37B	1.31B	1.31B	1.48B
Cash Flow
Free Cash Flow	336.70M	-743.18M	251.31M	856.03M	567.43M	176.95M
Operating Cash Flow	379.79M	-686.22M	290.10M	879.22M	579.82M	187.78M
Investing Cash Flow	-93.89M	-86.74M	-24.43M	-17.87M	-11.16M	-6.03M
Financing Cash Flow	-357.46M	885.23M	-285.68M	-841.23M	-562.24M	-200.77M

Lancor Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 24.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:LANCORHOL, the sentiment is Negative. The current price of 24.59 is above the 20-day moving average (MA) of 23.38, below the 50-day MA of 25.42, and above the 200-day MA of 24.23, indicating a bearish trend. The MACD of -1.99 indicates Positive momentum. The RSI at 34.43 is Neutral, neither overbought nor oversold. The STOCH value of 17.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:LANCORHOL.

Lancor Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATALREAL	68 Neutral	₹2.85B	42.03	―	―	49.74%	-26.42%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
VIPULLTD	50 Neutral	₹1.60B	36.46	―	―	-81.06%	-108.05%
LANCORHOL	49 Neutral	₹1.48B	-233.07	―	0.80%	4.65%	-137.16%
PRAENG	48 Neutral	₹1.40B	-39.95	―	―	-35.09%	34.18%
HDIL	44 Neutral	₹1.01B	-7.38	―	―	―	―