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Last Updated: April 2, 2026, 3:15 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541233 | NSE: LEMONTREE

Lemon Tree Hotels Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹83.38Overvalued by 22.80%vs CMP ₹108.00

P/E (35.6) × ROE (18.4%) × BV (₹15.60) × DY (2.00%)

₹65.09Overvalued by 39.73%vs CMP ₹108.00
MoS: -65.9% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹114.4930%Fair (+6%)
Graham NumberEarnings₹31.2418%Over (-71.1%)
DCFCash Flow₹60.8414%Over (-43.7%)
Net Asset ValueAssets₹15.6410%Over (-85.5%)
EV/EBITDAEnterprise₹91.2712%Over (-15.5%)
Earnings YieldEarnings₹27.8010%Over (-74.3%)
Revenue MultipleRevenue₹24.397%Over (-77.4%)
Consensus (7 models)₹65.09100%Overvalued
Key Drivers: EPS CAGR 37.3% lifts DCF — verify sustainability. | Wide model spread (₹16–₹114) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 37.3%

*Investments are subject to market risks

Investment Snapshot

66
Lemon Tree Hotels Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 13.0% GoodROE 18.4% ExcellentD/E 1.71 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money60/100 · Moderate
FII holding up 0.61% (6mo) Slight increasePromoter holding at 22.3% Stable
Earnings Quality65/100 · Strong
OPM expanding (41% → 49%) Improving
Quarterly Momentum80/100 · Strong
Revenue (4Q): +14% YoY GrowingProfit (4Q): +28% YoY Strong
Industry Rank85/100 · Strong
P/E 35.6 vs industry 305.4 Cheaper than peersROCE 13.0% vs industry 12.6% AverageROE 18.4% vs industry 10.4% Above peers3Y sales CAGR: 47% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:15 am

Market Cap 8,540 Cr.
Current Price 108
Intrinsic Value₹65.09
High / Low 181/99.6
Stock P/E35.6
Book Value 15.6
Dividend Yield0.00 %
ROCE13.0 %
ROE18.4 %
Face Value 10.0
PEG Ratio0.95

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Lemon Tree Hotels Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Lemon Tree Hotels Ltd 8,540 Cr. 108 181/99.635.6 15.60.00 %13.0 %18.4 % 10.0
Devyani International Ltd 11,930 Cr. 96.8 191/94.3 12.60.00 %6.42 %0.54 % 1.00
India Tourism Development Corporation Ltd (ITDC) 3,392 Cr. 396 714/36842.4 39.50.73 %30.5 %24.2 % 10.0
Taj GVK Hotels & Resorts Ltd 1,998 Cr. 319 540/28117.0 1080.63 %20.8 %16.2 % 2.00
EIH Associated Hotels Ltd 1,715 Cr. 281 435/26617.4 85.91.24 %25.7 %19.2 % 10.0
Industry Average7,257.68 Cr440.10305.42103.090.32%12.62%10.35%6.81

All Competitor Stocks of Lemon Tree Hotels Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 234253224227290327268284355379316306406
Expenses 107113118125149156153154171175176176201
Operating Profit 126140106102141171115131184203140131205
OPM % 54%55%47%45%49%52%43%46%52%54%44%43%50%
Other Income 121314011122-30
Interest 44454847535352515047454241
Depreciation 24242323333335353535343435
Profit before tax 5973363556892945100122635699
Tax % 18%20%24%25%21%6%31%23%20%12%23%25%17%
Net Profit 495928264484203580108484282
EPS in Rs 0.500.560.300.290.450.850.250.370.791.070.480.440.79

Last Updated: March 4, 2026, 1:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 8:46 pm

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2903684124845506692524028751,0711,2861,407
Expenses 239268295348381429194283427548652728
Operating Profit 5110011713616924157119448523634679
OPM % 18%27%28%28%31%36%23%30%51%49%49%48%
Other Income 135121315112222101313-25
Interest 7272787885162190181182208211176
Depreciation 52525153549210810497112139138
Profit before tax -60-19-01845-2-219-145178216296340
Tax % 5%35%1,452%21%-25%499%-15%-5%21%16%18%
Net Profit -63-26-51556-13-187-137141182243280
EPS in Rs -0.81-0.35-0.080.180.67-0.12-1.60-1.101.451.872.482.78
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)58.73%80.77%400.00%273.33%-123.21%-1338.46%26.74%202.92%29.08%33.52%
Change in YoY Net Profit Growth (%)0.00%22.04%319.23%-126.67%-396.55%-1215.25%1365.20%176.18%-173.84%4.44%

Lemon Tree Hotels Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:16%
5 Years:14%
3 Years:47%
TTM:20%
Compounded Profit Growth
10 Years:18%
5 Years:207%
3 Years:62%
TTM:49%
Stock Price CAGR
10 Years:%
5 Years:44%
3 Years:33%
1 Year:30%
Return on Equity
10 Years:3%
5 Years:5%
3 Years:16%
Last Year:18%

Last Updated: September 5, 2025, 9:40 am

Balance Sheet

Last Updated: December 10, 2025, 3:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 776778781786789790790791792792792792
Reserves 34302728861991274062175372445
Borrowings 5716257991,0111,1962,0172,1592,1282,1772,3362,1482,059
Other Liabilities 515572604632701756738674698725763824
Total Liabilities 1,8962,0042,2122,4582,7723,7633,8153,6333,7294,0284,0754,120
Fixed Assets 1,2361,2311,4181,4601,6043,3073,1943,0512,9573,6413,5563,525
CWIP 167259351559664190242297482255961
Investments 31661535146106134576
Other Assets 462508436425469252374276284348415459
Total Assets 1,8962,0042,2122,4582,7723,7633,8153,6333,7294,0284,0754,120

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -516812211518715141135385465542
Cash from Investing Activity + -150-103-229-260-289-598-66-45-283-397-127
Cash from Financing Activity + 15918111149113457111-163-132-59-392
Net Cash Flow -42-164310987-73-311022
Free Cash Flow -213-64-108-128-93-482-2369223134448
CFO/OP -74%80%108%86%119%63%55%115%91%96%93%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-520.00-525.00-682.00135.00168.00239.0055.00117.00446.00521.00632.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2324284056274526232422
Inventory Days 626257494857154112
Days Payable 4295996927397685841,648807
Cash Conversion Cycle -344-513-608-650-664-500-1,450-668232422
Working Capital Days -61-169-173-108-103-109-302-166-110-73-48
ROCE %3%4%5%5%5%-1%1%10%11%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 23.62%23.60%23.28%23.21%22.87%22.80%22.77%22.77%22.34%22.28%22.28%22.28%
FIIs 24.47%25.48%24.82%22.82%27.09%27.61%21.75%20.01%20.89%21.33%21.45%21.50%
DIIs 10.64%10.38%13.41%15.00%15.35%15.20%18.91%20.80%19.68%19.98%19.71%19.45%
Public 41.20%40.46%38.41%38.90%34.62%34.34%36.51%36.37%37.02%36.36%36.51%36.71%
Others 0.08%0.08%0.07%0.07%0.06%0.06%0.06%0.05%0.05%0.05%0.05%0.05%
No. of Shareholders 2,44,3362,58,0702,81,0032,98,1233,25,8003,30,9103,57,9683,55,1343,67,5283,64,2513,68,8113,68,933

Shareholding Pattern Chart

No. of Shareholders

Lemon Tree Hotels Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund 33,326,964 1.25 430.2234,815,3722026-02-23 05:11:58-4.28%
Nippon India Small Cap Fund 13,032,739 0.26 168.2413,032,7392025-04-22 15:56:560%
Franklin India Small Cap Fund 12,487,886 1.26 161.2113,503,8472026-01-26 05:25:39-7.52%
HSBC Small Cap Fund 12,388,561 1.06 159.9216,004,2452026-02-23 05:11:58-22.59%
Franklin India Opportunities Fund 12,091,547 1.89 156.0912,833,4012026-02-23 05:11:58-5.78%
Franklin India Flexi Cap Fund 7,682,853 0.51 99.189,657,4032026-02-23 05:11:58-20.45%
Franklin India Multi Cap Fund 7,277,439 1.93 93.94N/AN/AN/A
HSBC Multi Cap Fund 4,216,350 1.05 54.435,078,0902026-02-23 05:11:58-16.97%
SBI Large & Midcap Fund 4,210,285 0.14 54.358,000,0002025-12-08 03:07:04-47.37%
Franklin India ELSS Tax Saver Fund 3,303,337 0.66 42.643,645,3992026-02-23 05:11:58-9.38%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.481.881.45-1.11-1.61
Diluted EPS (Rs.) 2.481.881.45-1.11-1.61
Cash EPS (Rs.) 4.833.702.98-0.43-0.94
Book Value[Excl.RevalReserv]/Share (Rs.) 14.6912.2117.8617.6919.42
Book Value[Incl.RevalReserv]/Share (Rs.) 14.6912.2117.8617.6919.42
Revenue From Operations / Share (Rs.) 16.2413.5311.055.093.18
PBDIT / Share (Rs.) 8.176.685.701.680.94
PBIT / Share (Rs.) 6.415.264.480.35-0.41
PBT / Share (Rs.) 3.742.722.24-1.84-2.72
Net Profit / Share (Rs.) 3.072.291.76-1.75-2.31
NP After MI And SOA / Share (Rs.) 2.481.881.45-1.11-1.61
PBDIT Margin (%) 50.3049.3751.5532.9829.60
PBIT Margin (%) 39.4738.9040.517.04-13.11
PBT Margin (%) 23.0520.0820.27-36.20-85.31
Net Profit Margin (%) 18.9216.8915.96-34.40-72.51
NP After MI And SOA Margin (%) 15.2813.8613.09-21.73-50.47
Return on Networth / Equity (%) 16.8915.3513.41-10.51-13.84
Return on Capital Employeed (%) 13.5811.3410.540.83-0.93
Return On Assets (%) 4.813.683.06-2.40-3.33
Long Term Debt / Equity (X) 1.281.731.781.871.65
Total Debt / Equity (X) 1.461.952.042.041.71
Asset Turnover Ratio (%) 0.310.270.110.040.02
Current Ratio (X) 0.850.570.360.510.77
Quick Ratio (X) 0.810.530.330.480.75
Inventory Turnover Ratio (X) 92.9587.950.000.000.00
Interest Coverage Ratio (X) 3.062.622.550.760.41
Interest Coverage Ratio (Post Tax) (X) 2.151.901.790.200.00
Enterprise Value (Cr.) 12419.2912768.298395.487233.664981.78
EV / Net Operating Revenue (X) 9.6611.929.5917.9819.79
EV / EBITDA (X) 19.1924.1418.6154.5166.84
MarketCap / Net Operating Revenue (X) 7.919.676.9912.4811.65
Price / BV (X) 8.7510.717.176.043.20
Price / Net Operating Revenue (X) 7.919.676.9912.4911.65
EarningsYield 0.010.010.01-0.01-0.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Lemon Tree Hotels Ltd. is a Public Limited Listed company incorporated on 02/06/1992 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1992PLC049022 and registration number is 049022. Currently Company is involved in the business activities of Hotels and motels, inns, resorts providing short term lodging facilities; includes accommodation in house boats. Company's Total Operating Revenue is Rs. 384.63 Cr. and Equity Capital is Rs. 791.85 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Hotels, Resorts & RestaurantsAsset No. 6, New Delhi Delhi 110037Contact not found
Management
NamePosition Held
Mr. Patanjali Govind KeswaniChairman & Executive Director
Mr. Neelendra SinghManaging Director
Mr. Aditya Madhav KeswaniNon Exe.Non Ind.Director
Mr. Willem Albertus HazelegerNon Exe.Non Ind.Director
Mrs. Freyan Jamshed DesaiInd. Non-Executive Director
Mr. Paramartha SaikiaInd. Non-Executive Director
Mr. Niten MalhanInd. Non-Executive Director
Mr. Praveen GargInd. Non-Executive Director
Mr. Sanjiv Nandan SahaiInd. Non-Executive Director
Mrs. Smita AnandInd. Non-Executive Director

FAQ

What is the intrinsic value of Lemon Tree Hotels Ltd and is it undervalued?

As of 15 April 2026, Lemon Tree Hotels Ltd's intrinsic value is ₹65.09, which is 39.73% lower than the current market price of ₹108.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (18.4 %), book value (₹15.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Lemon Tree Hotels Ltd?

Lemon Tree Hotels Ltd is trading at ₹108.00 as of 15 April 2026, with a FY2026-2027 high of ₹181 and low of ₹99.6. The stock is currently near its 52-week low. Market cap stands at ₹8,540 Cr..

How does Lemon Tree Hotels Ltd's P/E ratio compare to its industry?

Lemon Tree Hotels Ltd has a P/E ratio of 35.6, which is below the industry average of 305.42. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Lemon Tree Hotels Ltd financially healthy?

Key indicators for Lemon Tree Hotels Ltd: ROCE of 13.0 % is moderate; ROE of 18.4 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Lemon Tree Hotels Ltd profitable and how is the profit trend?

Lemon Tree Hotels Ltd reported a net profit of ₹243 Cr in Mar 2025 on revenue of ₹1,286 Cr. Compared to ₹-137 Cr in Mar 2022, the net profit shows an improving trend.

Does Lemon Tree Hotels Ltd pay dividends?

Lemon Tree Hotels Ltd has a dividend yield of 0.00 % at the current price of ₹108.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Lemon Tree Hotels Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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