As of 6 Nov 2026, HLV trades at 80.9× trailing earnings, above the industry P/E of 28.0×, and the shares are 49% below their 52-week high. Its ROCE of 1.0% is the lowest among the 7 largest Lodging peers, and sales grew 5.1% a year over 3 years while net profit fell 35%. The company has almost no debt. It is a small-cap company with a market cap of ₹373 Cr, ranked 27th of 54 Lodging companies by market cap; the shares fell 49% over the past year.
- ₹5.84
- ₹5.85
- ₹5.49
- ₹5.72
- 2.5 L
Health check
- ReturnsBehind
−49.1% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 80.9 vs industry 28.0.
- GrowthSlow
Sales +5.1%, profit −35.2% a year over 3 years.
- ProfitabilityWeak
ROCE 1.0% vs peer median 16.2%.
- Balance sheetFair
Debt 0.07× equity, interest covered 1.7×, Piotroski 5 of 9.
- Red flags3 to check
Return on equity is low at 0.4%.
Small cap
Defensive
Key metrics
- Market cap
- ₹373 Cr
- Small cap
- P/E
- 80.9
- Industry 28.0
- Price to book
- 0.79
- Peers 4.46
- Dividend yield
- 0.00%
- ROE
- 0.4%
- Peers 16.5%
- ROCE
- 1.0%
- Peers 16.2%
- Debt to equity
- 0.07
- Debt ₹35 Cr
- EPS (TTM)
- ₹0.07
- Face value ₹2
- OPM (TTM)
- 8.3%
- Net margin 2.3%
- Sales growth
- +14.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 1.80
- EV/EBITDA 17.8
Strengths and risks
Strengths
- Practically debt-free.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 0.4%.
- P/E of 80.9 against an industry P/E of 28.0.
- 49% below its 52-week high.
About HLV
HLV Limited engages in owning, operating, and managing hotels, palaces, and resorts in India. It owns and operates The Leela Mumbai hotel. 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.
- Headquarters
- Mumbai
- Employees
- 387
- Sector
- Consumer Cyclical
- ISIN
- INE102A01024
- Website
- hlvltd.com
Price range
- Avg volume (3M)
- 2.1 L
- 1-year return
- minus 49.1%
- From 52-week high
- minus 49.4%
Peers · Lodging
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INDHOTELIndian Hotels Co. | 888.00 | plus 1.49% | 1,26,401 | 57.2 | 9.27 | 17.4% | 16.5% | 32.9% | 18.6% | 27.6% | 0.37% | plus 17.7% |
| THELEELALeela Palaces Hotels & Resorts | 692.30 | plus 0.37% | 23,120 | 37.2 | 3.53 | 8.3% | 7.2% | 48.9% | 21.1% | – | 0.00% | plus 56.7% |
| EIHOTELEIH | 313.05 | plus 1.72% | 19,577 | 27.5 | 3.72 | 16.2% | 12.7% | 34.1% | 13.3% | 25.9% | 0.48% | minus 22.9% |
| CHALETChalet Hotels | 810.70 | minus 1.52% | 17,754 | 30.1 | 4.46 | 16.6% | 19.1% | 44.1% | 34.9% | 52.1% | 0.25% | minus 14.4% |
| VENTIVEVentive Hospitality | 540.55 | plus 1.53% | 12,624 | 28.0 | 2.23 | 9.7% | 8.3% | 43.2% | 13.0% | – | 0.00% | minus 27.8% |
| LEMONTREELemon Tree Hotels | 117.39 | minus 0.12% | 9,295 | 36.1 | 6.16 | 13.5% | 17.8% | 47.5% | 16.3% | 25.6% | 0.00% | minus 30.0% |
| ITDCIndia Tourism Development Corporation | 630.65 | minus 0.30% | 5,409 | 65.6 | 12.80 | 26.6% | 21.1% | 17.0% | 4.6% | 14.5% | 0.47% | plus 3.2% |
| HLVLTDHLV | 5.66 | minus 1.05% | 373 | 80.9 | 0.79 | 1.0% | 0.4% | 8.3% | 5.1% | −35.2% | 0.00% | minus 49.1% |
| Median of 7 peers | – | 0.37% | 17,754 | 36.1 | 4.46 | 16.2% | 16.5% | 43.2% | 16.3% | 25.9% | 0.25% | −14.4% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 40.7 | 35.8 | 60.9 | 63.5 | 46.7 | |
| 42.5 | 42 | 49.3 | 52.8 | 45.5 | |
| −1.7 | −6.2 | 11.6 | 10.7 | 1.2 | |
| −4.2% | −17.3% | 19.0% | 16.8% | 2.5% | |
| 3.2 | 3.1 | 2.8 | 4.2 | 3.3 | |
| 0.6 | 0.8 | 0.7 | 1 | 0.6 | |
| 4.4 | 4.9 | 4.9 | 5.3 | 4.6 | |
| – | −1.1 | −1.9 | – | – | |
| −3.5 | −9.9 | 6.9 | 8.6 | −0.8 | |
| −3.5 | −9.9 | 6.9 | 8.6 | −0.8 | |
| -0.05 | -0.15 | 0.10 | 0.13 | -0.01 |
Profit & loss
- Sales CAGR 3Y
- +5.1%
- Profit CAGR 3Y
- −35.2%
- EPS CAGR 3Y
- −37.0%
- ROE
- 0.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 173 | 199 | 203 | 201 | |
| – | +15.2% | +2.1% | minus 1.2% | |
| 157 | 167 | 172 | 186 | |
| 16.4 | 31.8 | 31.4 | 15 | |
| 9.5% | 16.0% | 15.5% | 7.5% | |
| 5.8 | 8.8 | 11.8 | 12.2 | |
| 4.6 | 2.4 | 2.2 | 2.8 | |
| 11.1 | 14.4 | 15.6 | 19.4 | |
| 2.2 | −0.1 | 0.7 | −2.9 | |
| 8.6 | 23.8 | 26.1 | 2.1 | |
| 11.2% | – | – | – | |
| 7.6 | 23.8 | 26.1 | 2.1 | |
| – | +211.3% | +9.8% | minus 92.0% | |
| 0.12 | 0.36 | 0.40 | 0.03 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 132 | 132 | 132 | 132 | |
| 287 | 312 | 336 | 339 | |
| 32.8 | 34.4 | 41.1 | 35.3 | |
| 114 | 102 | 123 | 136 | |
| 566 | 580 | 632 | 642 | |
| 284 | 282 | 288 | 308 | |
| 14.4 | 13.4 | 10.9 | 6.8 | |
| 30 | 9.7 | 14 | 9.9 | |
| 49.3 | 114 | 138 | 135 | |
| 188 | 161 | 180 | 182 | |
| 566 | 580 | 632 | 642 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 35.4 | 23.8 | 33.7 | 36.5 | |
| 16.4 | −32.6 | 22.2 | −61.5 | |
| −41.1 | −2.5 | 1.2 | −14.3 | |
| 10.7 | −11.3 | 57.1 | −39.3 | |
| – | – | −11 | −31.3 | |
| 35.4 | 23.8 | 22.7 | 5.2 |
Shareholding pattern
- Promoters39.07%
- Public60.93%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 39.07% | 60.93% | 0.00 | |
| 30 Jun 2026 | 39.07% | 60.93% | 0.00 | |
| 31 Mar 2026 | 39.07% | 60.93% | 0.00 | |
| 31 Dec 2025 | 39.07% | 60.93% | 0.00 | |
| 30 Sep 2025 | 39.07% | 60.93% | – |
Major shareholders
Filings & events
News
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