West Leisure Resorts Ltd (538382)
🎯 Key Takeaways
- West Leisure Resorts Ltd appears to be in a distressed or dormant phase, with no operational revenue generation evident in recent quarters and persistent negative financial metrics. The company holds minimal assets and equity, with zero borrowings, but shows no signs of active business revival despite stable promoter holding.
- Revenue declined 60% QoQ to ₹0 in Q1FY27.
- ⚠️ 1) Complete absence of revenue-generating operations raises concerns about business relevance. 2) Persistent negative ROE and ROCE indicate capital is
📖 The Story
West Leisure Resorts Ltd appears to be in a distressed or dormant phase, with no operational revenue generation evident in recent quarters and persistent negative financial metrics. The company holds minimal assets and equity, with zero borrowings, but shows no signs of active business revival despite stable promoter holding. Its financial trajectory reflects a complete operational standstill rather than a turnaround.
📰 What's Happening
Management has not announced any new orders, expansions, or strategic initiatives in recent filings. The company has not disclosed any restructuring plans, capital raises, or business restarts. The only consistent element across filings is the unchanged promoter stake of 71.08% over the last four quarters, with no FII or DII holdings reported.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | 0 | 0 | 0 |
| OPM % | -93.3% | 0.0% | 30.0% | 0.0% |
| Net Profit | -0 | 0 | 0 | 0 |
| EPS | ₹-0.44 | ₹0.02 | ₹0.03 | ₹0.04 |
Revenue and operating profits have been zero across all recent quarters, with only minor fluctuations in EPS driven by accounting entries rather than business performance. The company reported negative operating margins in September 2025 (-93.3%) before reverting to zero, indicating no sustainable operations. Net losses and zero revenue suggest the business model is not currently viable or active.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit outlook from management in the latest filings. The company has not provided any commentary on future business plans, revenue expectations, or timelines for revival in its recent disclosures.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 |
| Reserves | 15 | 16 | 16 | 17 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 18 | 20 | 20 | 20 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 18 | 19 | 19 | 19 |
| Total Assets | 18 | 20 | 20 | 20 |
The balance sheet remains structurally minimal, with total assets flat at ₹20 crore and no borrowings or liabilities. Equity and reserves are stable, indicating no capital infusion or write-downs recently, but also no reinvestment. This suggests the company is not actively deploying capital or pursuing growth initiatives.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -0 |
| Investing | +0 |
| Financing | -0 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 71.1% | 71.1% | 71.1% | 71.1% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 9.1% | 9.1% | 9.2% | 9.2% |
| # Shareholders | 565 | 548 | 542 | 548 |
Promoter holding remains stable at 71.08%, with no changes in FII or DII participation. The slight increase in public shareholding percentage is offset by a declining number of public shareholders, suggesting possible consolidation rather than retail interest. No insider selling or institutional accumulation is evident.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.63 L Cr | 32.6 | 10.4% | 18.1% | 3.82 |
| BAJAJFINSV | 3.23 L Cr | 31.7 | 11.4% | 26.5% | 5.50 |
| SHRIRAMFIN | 2.57 L Cr | 19.3 | 11.5% | 17.1% | 3.80 |
| CHOLAFIN | 1.59 L Cr | 27.6 | 9.3% | 18.9% | 6.93 |
| JIOFIN | 1.58 L Cr | 74.2 | 2.3% | 1.6% | 0.17 |
| TATACAP | 1.56 L Cr | 28.5 | 8.4% | 12.3% | 5.28 |
| ICICIAMC | 1.52 L Cr | 30.4 | 111.5% | 83.6% | 0.00 |
| BAJAJHLDNG | 1.27 L Cr | 14.3 | 12.4% | 12.3% | 0.00 |
| MUTHOOTFIN | 1.20 L Cr | 10.6 | 14.4% | 29.3% | 3.88 |
| SBIFUNDS | 1.18 L Cr | — | — | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Complete absence of revenue-generating operations raises concerns about business relevance. 2) Persistent negative ROE and ROCE indicate capital is not being used productively. 3) Lack of strategic updates or capital allocation plans suggests potential stagnation or governance inactivity. 4) Low public float and limited shareholder base increase vulnerability to delisting or liquidity risks.
🧠 Analyst's Read
The company is effectively non-operational with no visible path to revival, making it a high-risk holding. Investors should monitor for any sudden business restart announcements or asset monetization plans, but no such signals are currently present in the filings.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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