Samhi Hotels Ltd (SAMHI)

📊 Quarterly Results (₹ Cr)

Quarterly revenue shows a clear upward trend, rising from Rs. 293 crores in Sep 2025 to Rs. 345 crores in Mar 2026, before settling at Rs. 305 crores in Jun 2026, indicating sustained momentum in occupancy and RevPAR growth. Operating margins remain stable around 21-27%, supporting profitability despite macro volatility. Net profit declined sharply from Rs. 488 crores in Dec 2025 to Rs. 25 crores in Jun 2026, likely due to one-time or non-recurring items, but the underlying operational efficiency is improving. The company maintains a healthy EBITDA margin trajectory, with net debt at Rs. 1,490 crores and a 3.2x net debt-to-EBITDA ratio, down from higher leverage levels, reflecting active deleveraging efforts.

🔮 Management Outlook & What's Next

Management has provided clear forward guidance, targeting 60% revenue share from upscale hotels by FY30, a net debt-to-EBITDA ratio of 2.4x-2.5x by FY2028, and revenue growth from Rs. 1,200 crores to Rs. 3,000 crores by FY2028. The company is pursuing asset-light expansion through RARE Leisure and strategic acquisitions, supported by a Rs. 750 crore fundraising. ESG targets are being institutionalized, including 100% EV charging coverage by FY2030 and elimination of single-use plastics. The AGM on August 31, 2026, will vote on capital expansion and fund raise, indicating proactive capital management to fund growth without diluting shareholder value prematurely.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

The balance sheet shows a strategic shift toward deleveraging and capital efficiency, with equity remaining stable at Rs. 22 crores while reserves grew from Rs. 1,120 crores in Mar 2025 to Rs. 1,762 crores in Mar 2026, reflecting retained earnings and reinvestment. Borrowings declined from Rs. 2,128 crores in Mar 2025 to Rs. 1,726 crores in Mar 2026, supporting the reduction in net debt-to-EBITDA ratio. Total assets grew to Rs. 4,454 crores in Mar 2026, indicating asset base expansion aligned with growth ambitions. The Rs. 75 billion fund raise is intended for strategic investments, suggesting capital is being raised to fuel expansion rather than for debt repayment, though leverage is being managed within target ranges.

💰 Cash Flow Statement (₹ Cr)

👥 Shareholding Pattern

Institutional investor interest remains strong, with FII holding increasing from 44.14% in Q3FY26 to 44.62% in Q1FY27, while DII holdings rose from 16.48% to 17.34% over the same period, indicating accumulation by foreign and domestic institutional investors. Promoter holding remains at 0%, consistent with historical trends, but the growing institutional stake suggests confidence in the company’s growth trajectory. The rising number of shareholders (83,908 to 94,278) reflects broadening retail participation, though no promoter activity is observed, which may limit long-term control stability.

⚖️ Peer Comparison — Hotels & Restaurants

🔗 Peer Stock Analyses

⚠️ Risk Factors

1. High leverage remains a concern despite improvement, with net debt at Rs. 1,490 crores and 3.2x net debt-to-EBITDA, though management targets 2.4x-2.5x by FY2028; any delay in fund raise execution or slower revenue growth could strain balance sheet. 2. Concentration in urban office markets exposes the company to corporate travel volatility, as 82% of demand is domestic but tied to white-collar employment trends in Tier-1 cities. 3. ESG transition requires sustained capex and operational execution; failure to meet FY2030 targets (e.g., 100% EV charging, plastic elimination) could impact brand value and regulatory standing. 4. Capital dilution risk from the proposed Rs. 75 billion fund raise via equity or convertibles may pressure share price if not executed efficiently or at favorable valuations.

📋 Recent Filings

• Announcement2026-09-24Samhi Hotels announced that its designated insiders must close trading in company shares from October 1, 2026, through two days after the unaudited Q3…
• 🔴 Announcement2026-09-24Samhi Hotels announced it will attend an investor conference on September 29, 2026, organized by PL Capital in Mumbai, with one-on-one and group meeti…
• 🔴 Insider Trading2026-09-04Samhi Hotels disclosed an acquisition of 1,175,000 shares representing 0.53% of total voting capital, increasing its post-acquisition holding to 5.06%…
• 🔴 Insider Trading2026-09-03SAMHI Hotels disclosed an insider purchase of 1.175 million shares at 0.53% of total voting capital, raising the acquirer's stake to 5.06% post-acquis…
• 🟡 voting results2026-09-02Samhi Hotels held its 16th AGM on 31 August 2026 via video conference, with 60 shareholders participating remotely. All five resolutions were approved…
• 🟡 Board Meeting2026-09-02SAMHI Hotels held its 16th AGM on 31 August 2026 via video conference, where shareholders approved the audited financial statements for FY2025-26, rea…
• 🟡 Board Meeting2026-09-01SAMHI Hotels held its 16th AGM on 31 August 2026 via video conference, adopting the 2025-26 audited financial statements, appointing a new director to…
• 🔴 annual report2026-08-13Samhi Hotels announced that its Integrated Annual Report for FY 2025-26 is available via web-link and path on its website, with no physical copies dis…
• 🟡 Board Meeting2026-08-13SAMHI Hotels approved the allotment of 224,936 equity shares of INR 1 each to employees exercising options under the ESOP-2023 plan, increasing paid-u…
• 🔴 Financial Results2026-08-10SAMHI Hotels reported Q1 FY27 revenue of Rs. 308.3 crores, up 10.8% YoY, with EBITDA growing 12.1% on comparable basis. Occupancy reached 79.3%, drive…

🧠 Analyst's Read

Samhi Hotels is executing a clear, capital-light transformation toward upscale, sustainable growth with strong operational momentum, but its success hinges on disciplined capital allocation, execution of the RARE Leisure expansion, and timely delivery of ESG targets. Investors should monitor the August 31 AGM outcomes, fund raise pricing, and quarterly occupancy trends as leading indicators of progress toward FY30 targets.

Based on filing content and financial data. Not a recommendation.