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Last Updated: April 2, 2026, 3:54 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523796 | NSE: VHLTD

Viceroy Hotels Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹170.30Undervalued by 22.52%vs CMP ₹139.00

P/E (11.6) × ROE (49.7%) × BV (₹36.20) × DY (2.00%)

₹146.68Fairly Valued by 5.53%vs CMP ₹139.00
MoS: +5.2% (Thin)Confidence: 54/100 (Moderate)Models: 2 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹294.2126%Under (+111.7%)
Graham NumberEarnings₹96.9516%Over (-30.3%)
Earnings PowerEarnings₹9.9413%Over (-92.8%)
DCFCash Flow₹274.4113%Under (+97.4%)
Net Asset ValueAssets₹36.118%Over (-74%)
EV/EBITDAEnterprise₹58.6710%Over (-57.8%)
Earnings YieldEarnings₹115.408%Over (-17%)
Revenue MultipleRevenue₹10.106%Over (-92.7%)
Consensus (8 models)₹146.68100%Fairly Valued
Key Drivers: EPS CAGR 72.8% lifts DCF — verify sustainability. | Wide model spread (₹10–₹294) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 72.8%

*Investments are subject to market risks

Investment Snapshot

60
Viceroy Hotels Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health60/100 · Moderate
ROCE 9.2% AverageROE 49.7% ExcellentD/E -1.30 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money40/100 · Moderate
DII holding down 1.34% MF sellingPromoter holding at 84.1% Stable
Earnings Quality65/100 · Strong
OPM expanding (-30% → 19%) Improving
Quarterly Momentum50/100 · Moderate
Revenue (4Q): -1% YoY FlatProfit (4Q): -43% YoY DecliningOPM: 31.0% (up 6.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 11.6 vs industry 24.8 Cheaper than peersROCE 9.2% vs industry 17.1% Below peersROE 49.7% vs industry 28.4% Above peers3Y sales CAGR: 38% 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, 3:54 am

Market Cap 943 Cr.
Current Price 139
Intrinsic Value₹146.68
High / Low 157/93.0
Stock P/E11.6
Book Value 36.2
Dividend Yield0.00 %
ROCE9.15 %
ROE49.7 %
Face Value 10.0
PEG Ratio0.16

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

View Share Price Target for Viceroy Hotels Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Viceroy Hotels Ltd 943 Cr. 139 157/93.011.6 36.20.00 %9.15 %49.7 % 10.0
Asian Hotels (North) Ltd 1,233 Cr. 289 393/248 95.20.00 %6.66 %41.0 % 10.0
Kamat Hotels (India) Ltd 463 Cr. 157 369/14014.8 95.50.00 %19.6 %18.6 % 10.0
Advani Hotels & Resorts (India) Ltd 462 Cr. 49.9 69.0/46.819.1 8.073.81 %45.3 %34.4 % 2.00
Apeejay Surrendra Park Hotels Ltd 2,267 Cr. 106 173/95.126.7 61.20.47 %12.0 %6.87 % 1.00
Industry Average1,717.00 Cr164.1524.8455.400.71%17.07%28.36%7.17

All Competitor Stocks of Viceroy Hotels Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Sep 2025Dec 2025
Sales 22293225274041323238353139
Expenses 20313024244529272426262326
Operating Profit 1-2214-512581110812
OPM % 5%-7%5%2%14%-12%29%14%25%30%27%25%31%
Other Income 321301-3110113
Interest 0000101112111
Depreciation 2222228333333
Profit before tax 1-2011-701577411
Tax % 10%5%108%52%-37%0%-1,000%17%-1,056%-4%-41%-2%-2%
Net Profit 1-3002-72160710411
EPS in Rs 0.17-0.350.000.070.22-0.620.230.105.551.081.470.651.62

Last Updated: March 3, 2026, 1:54 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:25 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales 1051101241241181221223552119138137
Expenses 7476921001091261315487111120104
Operating Profit 303432259-4-8-20-3491833
OPM % 29%31%26%20%7%-3%-7%-57%-66%7%13%24%
Other Income -123-019-4-409356180-24
Interest 24262728232111015
Depreciation 151413910111010991412
Profit before tax -132-611-16-433-14-15-24-260021
Tax % -0%0%-0%6%2%14%11%-16%2%111%-724%-280%
Net Profit -132-711-15-443-16-17-21-26-0278
EPS in Rs -18.34-0.941.52-2.02-61.49-2.19-2.34-2.85-3.65-0.010.2211.54
Dividend Payout % -0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232024-2025
YoY Net Profit Growth (%)94.70%257.14%-236.36%-2853.33%96.39%-6.25%-23.53%-23.81%100.00%3800.00%
Change in YoY Net Profit Growth (%)0.00%162.45%-493.51%-2616.97%2949.72%-102.64%-17.28%-0.28%123.81%3700.00%

Viceroy Hotels Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:2%
5 Years:2%
3 Years:38%
TTM:-1%
Compounded Profit Growth
10 Years:31%
5 Years:46%
3 Years:56%
TTM:1288%
Stock Price CAGR
10 Years:26%
5 Years:116%
3 Years:302%
1 Year:8%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:50%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: December 4, 2025, 2:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital 424242424242424242426368
Reserves 65103123120-408-423-440-461-487-4874177
Borrowings 40448148846453354054762963459717952
Other Liabilities 1722322663012742832801941921998215
Total Liabilities 684858920927442441429405381352328312
Fixed Assets 207177195187282273263249230222214178
CWIP 284358408437929292100100573715
Investments 55125135130000000030
Other Assets 1381981811746876745651747788
Total Assets 684858920927442441429405381352328312

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -277532558-61-1213-7-231032
Cash from Investing Activity + 760-85-30-15-44-2-0-8544-1130
Cash from Financing Activity + -485352-404676-44-1114-83
Net Cash Flow -12-33-57-5121014-21
Free Cash Flow 475-22-03827-1-129-720214
CFO/OP -910%157%77%232%-73%-41%138%-64%19%-270%58%77%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-374.00-447.00-456.00-439.00-524.00-544.00-555.00-649.00-668.00-588.00-161.00-19.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 678070363641369539282119
Inventory Days 19242621182324
Days Payable 659344304292350343345
Cash Conversion Cycle -572-240-208-234-296-280-2869539282119
Working Capital Days -696-793-598-716-650-663-625-2,357-1,544-668-8057
ROCE %2%4%3%3%1%-7%-9%-15%-21%0%2%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 13.41%13.41%13.41%95.00%95.00%95.00%90.00%84.11%84.11%84.11%84.11%84.11%
DIIs 0.02%0.02%0.02%1.58%1.58%1.58%1.58%1.48%1.48%0.88%0.35%0.14%
Public 86.55%86.56%86.55%3.42%3.42%3.42%8.41%14.41%14.40%15.01%15.53%15.74%
No. of Shareholders 28,12728,09627,63322,07917,36716,99317,36018,06217,42417,28816,91816,529

Shareholding Pattern Chart

No. of Shareholders

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

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 12.210.38-0.01-6.20-4.85
Diluted EPS (Rs.) 12.210.38-0.01-6.20-4.85
Cash EPS (Rs.) 13.342.592.01-4.05-2.50
Book Value[Excl.RevalReserv]/Share (Rs.) 36.0410.45-105.06-106.04-98.84
Book Value[Incl.RevalReserv]/Share (Rs.) 36.1510.58-104.88-104.86-98.66
Revenue From Operations / Share (Rs.) 20.3221.8824.3812.378.20
PBDIT / Share (Rs.) 5.472.982.34-3.78-3.27
PBIT / Share (Rs.) 3.670.770.31-5.93-5.62
PBT / Share (Rs.) 3.040.040.10-6.11-5.76
Net Profit / Share (Rs.) 11.540.37-0.01-6.20-4.85
NP After MI And SOA / Share (Rs.) 11.540.37-0.01-6.20-4.85
PBDIT Margin (%) 26.9113.649.59-30.60-39.92
PBIT Margin (%) 18.073.551.27-47.97-68.52
PBT Margin (%) 14.950.200.43-49.39-70.27
Net Profit Margin (%) 56.801.72-0.05-50.16-59.16
NP After MI And SOA Margin (%) 56.801.72-0.05-50.16-59.16
Return on Networth / Equity (%) 32.023.610.000.000.00
Return on Capital Employeed (%) 8.501.861.34-18.65-15.43
Return On Assets (%) 25.030.73-0.01-6.89-5.07
Long Term Debt / Equity (X) 0.192.53-1.14-1.22-1.29
Total Debt / Equity (X) 0.212.55-1.17-1.22-1.30
Asset Turnover Ratio (%) 0.420.400.310.140.07
Current Ratio (X) 2.920.910.210.110.11
Quick Ratio (X) 2.890.900.210.110.10
Inventory Turnover Ratio (X) 200.78134.800.000.000.00
Interest Coverage Ratio (X) 7.4613.0911.39-21.49-22.84
Interest Coverage Ratio (Post Tax) (X) 16.614.860.93-34.24-32.85
Enterprise Value (Cr.) 815.72161.13506.23558.51551.55
EV / Net Operating Revenue (X) 5.941.174.9010.6515.87
EV / EBITDA (X) 22.078.5551.06-34.80-39.74
MarketCap / Net Operating Revenue (X) 5.610.160.090.250.25
Price / BV (X) 3.160.35-0.02-0.02-0.02
Price / Net Operating Revenue (X) 5.610.160.090.250.25
EarningsYield 0.100.10-0.01-1.96-2.30

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Viceroy Hotels Ltd. is a Public Limited Listed company incorporated on 25/02/1965 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L55101TG1965PLC001048 and registration number is 001048. Currently Company is involved in the business activities of Short term accommodation activities. Company's Total Operating Revenue is Rs. 132.49 Cr. and Equity Capital is Rs. 67.58 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Hotels, Resorts & Restaurants1-3-1036/3/1 Tank Bund Road, Gandhi Nagar, Hyderabad Telangana 500080Contact not found
Management
NamePosition Held
Mr. Gorinka Jaganmohan RaoChairman & Ind.Director
Mr. Ravinder Reddy KondareddyManaging Director & CEO
Mr. Prabhakar Reddy SolipuramNon Exe.Non Ind.Director
Mr. Anirudh Reddy Konda ReddyNon Exe.Non Ind.Director
Ms. Pooja Reddy Konda ReddyNon Exe.Non Ind.Director
Mrs. Shruti GuptaIndependent Director

FAQ

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

As of 14 April 2026, Viceroy Hotels Ltd's intrinsic value is ₹146.68, which is 5.53% higher than the current market price of ₹139.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (49.7 %), book value (₹36.2), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Viceroy Hotels Ltd is trading at ₹139.00 as of 14 April 2026, with a FY2026-2027 high of ₹157 and low of ₹93.0. The stock is currently in the middle of its 52-week range. Market cap stands at ₹943 Cr..

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

Viceroy Hotels Ltd has a P/E ratio of 11.6, which is below the industry average of 24.84. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Viceroy Hotels Ltd financially healthy?

Key indicators for Viceroy Hotels Ltd: ROCE of 9.15 % is on the lower side compared to the industry average of 17.07%; ROE of 49.7 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Viceroy Hotels Ltd profitable and how is the profit trend?

Viceroy Hotels Ltd reported a net profit of ₹78 Cr in Mar 2025 on revenue of ₹137 Cr. Compared to ₹-26 Cr in Mar 2022, the net profit shows an improving trend.

Does Viceroy Hotels Ltd pay dividends?

Viceroy Hotels Ltd has a dividend yield of 0.00 % at the current price of ₹139.00. 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 Viceroy 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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