Viceroy Hotels Ltd (VHLTD) AI Stock Analysis

• Market Cap: ₹9.17B
• Dividend Yield: N/A
• Average Volume (3M): 11.01K
• Price to Earnings (P/E): 48.0
• Beta (1Y): 0.72
• Revenue Growth: -11.23%
• EPS Growth: -65.46%
• Country: IN
• Employees: 404
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Lodging
• EPS (TTM): 0.65
• 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: ₹161.00 ▲(13.02% Upside)

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

Margin improvement / profitability turnaround

Sustained expansion in gross and net margins reflects better pricing, cost control and operational efficiency. Over the next 2-6 months, higher margins improve cash generation and reinvestment capacity, strengthening long-term resilience versus peers in lodging.

Improving cash generation

Rising operating cash flow and free cash flow enhance financial flexibility, enabling capex, maintenance and debt servicing without constant external funding. Durable cash generation supports deleveraging and strategic investments through industry cycles.

Restored equity position

Recovery from prior negative equity signals improved solvency and a stronger capital base. This reduces bankruptcy risk and improves access to credit, providing structural stability and a firmer platform for growth and operational investments over the medium term.

Negative Factors

High leverage risk

Elevated debt relative to equity constrains strategic flexibility, raises interest expense sensitivity and amplifies downside during downturns. Over months, high leverage can limit capital allocation choices and slow ability to fund growth or absorb shocks in lodging cycles.

Recent revenue and EPS declines

Material negative revenue and EPS growth indicate inconsistent top-line recovery and earnings volatility. Such adverse trends can weaken free cash flow durability and raise execution risk for the operational turnaround, challenging sustainable margin improvements.

Need to sustain cash flow momentum

The company’s improved cash flows are beneficial but require continuity; a reversal would force renewed external financing or cutbacks. Over 2-6 months, failure to sustain cash generation risks higher funding costs, delayed deleveraging and constrained strategic initiatives.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.37B	1.37B	1.31B	1.20B	524.40M	321.86M
Gross Profit	948.15M	948.15M	650.70M	547.38M	10.22M	34.99M
EBITDA	376.13M	376.13M	156.47M	90.44M	-160.47M	-144.37M
Net Income	779.93M	779.93M	23.88M	-549.00K	-263.08M	-205.69M
Balance Sheet
Total Assets	3.12B	3.12B	3.27B	3.52B	3.81B	4.05B
Cash, Cash Equivalents and Short-Term Investments	468.49M	468.49M	304.38M	128.08M	29.09M	9.28M
Total Debt	522.58M	522.58M	1.79B	5.12B	6.34B	6.29B
Total Liabilities	672.35M	672.35M	2.60B	7.97B	8.26B	8.24B
Stockholders Equity	2.44B	2.44B	668.20M	-4.45B	-4.45B	-4.18B
Cash Flow
Free Cash Flow	0.00	142.43M	100.03M	-232.73M	-65.94M	43.73M
Operating Cash Flow	0.00	323.11M	181.13M	-232.73M	-65.88M	127.04M
Investing Cash Flow	0.00	-735.32M	-149.38M	438.89M	47.78M	-82.05M
Financing Cash Flow	0.00	-828.94M	144.55M	-107.17M	37.91M	-39.34M

Viceroy Hotels Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 142.45
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 Negative. The current price of 142.45 is above the 20-day moving average (MA) of 139.85, above the 50-day MA of 136.03, and above the 200-day MA of 119.16, indicating a neutral trend. The MACD of 0.73 indicates Positive momentum. The RSI at 45.41 is Neutral, neither overbought nor oversold. The STOCH value of 35.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	₹9.17B	48.01	―	―	-11.23%	-65.46%
ASIANHOTNR	66 Neutral	₹5.91B	3.15	―	―	8.18%	―
ROHLTD	61 Neutral	₹9.84B	21.32	―	0.61%	10.77%	-4.40%
KAMATHOTEL	60 Neutral	₹6.46B	17.33	―	―	9.52%	-39.66%
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%
SBGLP	46 Neutral	₹6.06B	29.98	―	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.

Viceroy Hotels Announces Board Changes Amid Strategic Shifts

Viceroy Hotels Limited has announced changes in its board of directors, with the appointment of Mrs. Kondareddy Sukanya as an Additional Director in a Non-Executive, Non-Independent role. This appointment follows the resignations of Mrs. Konda Reddy Pooja Reddy and Mrs. Shruti Gupta from their respective director positions. These changes in management could impact the company’s strategic direction and governance, potentially influencing stakeholder confidence and the company’s future operations.

Viceroy Hotels Schedules Q2 & H1 FY26 Earnings Call

Viceroy Hotels Limited has announced a conference call scheduled for November 19, 2025, to discuss its financial results for the second quarter and half-year ending September 30, 2025. This call is intended for analysts and investors, providing an opportunity to gain insights into the company’s financial performance and strategic direction.