Viceroy Hotels Ltd (VHLTD) AI Stock Analysis

• Market Cap: ₹9.96B
• Dividend Yield: N/A
• Average Volume (3M): 11.01K
• Price to Earnings (P/E): 21.6
• Beta (1Y): 0.67
• Revenue Growth: -11.23%
• EPS Growth: -65.46%
• Country: IN
• Employees: 404
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Lodging
• EPS (TTM): 1.62
• Shares Outstanding: 67,578,950
• 10 Day Avg. Volume: 22,402
• 30 Day Avg. Volume: 11,012
• PEG Ratio: <0.01
• Price to Book (P/B): 2.89
• Price to Sales (P/S): 5.15
• P/FCF Ratio: 49.62
• 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: 74 Outperform
• Price Target: ₹169.00 ▲(18.64% Upside)
• Action: Reiterated Date: 10/23/25
• Date: Action: Reiterated 10/23/25

Viceroy Hotels Ltd's strong financial performance and positive technical indicators are the primary drivers of its stock score. The company's reasonable valuation further supports the score, although the high leverage remains a concern.

Positive Factors

Improved margins and profitability

Sustained margin expansion and a shift to positive net margin indicate the business has improved pricing power and operational efficiency. For a lodging operator this supports durable profitability through cycles, increasing cash available for maintenance capex and strategic reinvestment.

Stronger cash flow generation

Improving operating cash flow and rising free cash flow enhance financial flexibility and reduce reliance on external funding. Over 2-6 months this supports debt servicing, targeted capex and working capital needs, enabling steadier operations and investment in core assets.

Balance sheet recovery and ROE

Restoring positive equity and delivering strong ROE signal a structural repair in solvency and profitability. This improves access to credit and investor confidence, allowing the company to pursue organic growth and resilience against occasional industry downturns.

Negative Factors

High leverage

A materially elevated debt-to-equity ratio constrains long-term flexibility: interest costs can compress margins, refinancing risk rises, and capital allocation choices narrow. Until leverage is meaningfully reduced, the company remains exposed to rate shocks and weaker demand periods.

Negative reported revenue growth

Reported negative revenue growth suggests the top-line recovery is incomplete or uneven across properties. Persistent or recurrent revenue declines would undermine margin gains and cash flow, making operational improvements harder to sustain and increasing reliance on cost cuts or one-off items.

Earnings volatility

A steep EPS contraction points to earnings volatility or one-time swings that impair predictability. Volatile earnings complicate planning, credit assessment and reinvestment; management may need multiple quarters of stable profits to rebuild investor and lender confidence.

Viceroy Hotels Ltd Business Overview & Revenue Model

Company Description

Viceroy Hotels Limited engages in the hoteliering business in India. The company owns and operates a convention center and rooms with fine dining restaurants under the Marriott brand name; and rooms with banquet halls and fine dining restaurant under the Courtyard Marriott brand. It also operates bar and restaurants under the Bluefox brand in Hyderabad and Vijayawada; coffee shops under the Minerva brand name in Hyderabad and Vijayawada; and restaurants under the Eat Street & Waterfront brands in Hyderabad. The company was incorporated in 1965 and is based in Hyderabad, India.

How the Company Makes Money

Viceroy Hotels Ltd generates revenue through multiple streams primarily focused on the hospitality sector. The main revenue source is room bookings, where guests pay for their stays at VHLTD properties. Additionally, the company profits from food and beverage services offered in its restaurants, bars, and room service. VHLTD also provides event and conference facilities, which generates income from corporate clients hosting meetings, weddings, and other events. Partnerships with travel agencies and online booking platforms help to increase visibility and occupancy rates, further enhancing revenue. Seasonal promotions and loyalty programs also contribute to repeat business and sustained income. Furthermore, VHLTD may engage in management contracts or franchising agreements with property owners, allowing for revenue sharing while minimizing capital investment. Overall, the company's diverse offerings and strategic partnerships play a crucial role in its financial success.

Viceroy Hotels Ltd Financial Statement Overview

Summary

Viceroy Hotels Ltd has shown impressive revenue growth and profitability improvements, with a strong income statement and positive cash flow trends. However, the high debt-to-equity ratio on the balance sheet poses a potential risk.

Income Statement

Viceroy Hotels Ltd has shown impressive revenue growth and profitability improvements. The gross profit margin has increased significantly, and net profit margin has turned positive, indicating a successful turnaround. The EBIT and EBITDA margins have also improved, demonstrating enhanced operational efficiency. Revenue growth rate is strong, reflecting robust demand recovery in the travel lodging sector.

Balance Sheet

The company's balance sheet shows a positive equity after a period of negative equity, indicating improved financial health. However, the debt-to-equity ratio remains high, suggesting potential leverage risks. The return on equity is strong due to recent profitability, but the company needs to focus on reducing debt levels to enhance long-term stability.

Cash Flow

Cash flow metrics reflect a positive trend with growing free cash flow. Operating cash flow has improved significantly, supporting the improved net income figures. However, the company needs to maintain this positive cash flow momentum to ensure financial flexibility and reduce reliance on external financing.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.37B	1.31B	1.20B	524.40M	321.86M
Gross Profit	948.15M	650.70M	547.38M	10.22M	34.99M
EBITDA	376.13M	156.47M	90.44M	-160.47M	-144.37M
Net Income	779.93M	23.88M	-549.00K	-263.08M	-205.69M
Balance Sheet
Total Assets	3.12B	3.27B	3.52B	3.81B	4.05B
Cash, Cash Equivalents and Short-Term Investments	468.49M	304.38M	128.08M	29.09M	9.28M
Total Debt	522.58M	1.79B	5.12B	6.34B	6.29B
Total Liabilities	672.35M	2.60B	7.97B	8.26B	8.24B
Stockholders Equity	2.44B	668.20M	-4.45B	-4.45B	-4.18B
Cash Flow
Free Cash Flow	142.43M	100.03M	-232.73M	-65.94M	43.73M
Operating Cash Flow	323.11M	181.13M	-232.73M	-65.88M	127.04M
Investing Cash Flow	-735.32M	-149.38M	438.89M	47.78M	-82.05M
Financing Cash Flow	-828.94M	144.55M	-107.17M	37.91M	-39.34M

Viceroy Hotels Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 142.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VHLTD, the sentiment is Positive. The current price of 142.45 is below the 20-day moving average (MA) of 143.81, above the 50-day MA of 141.91, and above the 200-day MA of 122.03, indicating a bullish trend. The MACD of 2.47 indicates Negative momentum. The RSI at 63.62 is Neutral, neither overbought nor oversold. The STOCH value of 63.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VHLTD.

Viceroy Hotels Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VHLTD	74 Outperform	₹9.96B	21.57	―	―	-11.23%	-65.46%
ASIANHOTNR	66 Neutral	₹5.43B	-2.80	―	―	8.18%	―
KAMATHOTEL	61 Neutral	₹5.42B	10.10	―	―	9.52%	-39.66%
ROHLTD	61 Neutral	₹9.52B	31.71	―	0.61%	10.77%	-4.40%
SPECIALITY	56 Neutral	₹4.83B	15.98	―	0.87%	6.66%	-21.40%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SBGLP	46 Neutral	₹4.72B	13.65	―	0.27%	37.56%	77.10%

Viceroy Hotels Ltd Corporate Events

Viceroy Hotels Shareholders Clear Acquisition of Marriott-Linked Hyderabad Property

Shareholders of Viceroy Hotels Limited have approved the acquisition of SLN Terminus Hotels and Resorts Private Limited, which operates a Marriott-associated, 75-room long-stay hotel in Hyderabad’s Gachibowli area on leased premises with additional parking and land share. The related-party transaction, involving common director S. Prabhaker Reddy, has been executed on an arm’s-length basis and is intended to expand Viceroy’s strategic portfolio in the hospitality segment, strengthen its market presence and asset base, and generate operational synergies, cost efficiencies, and enhanced revenue and profitability through alignment with Marriott-branded operations.