Gujarat Hotels Ltd

Gujarat Hotels Ltd

₹ 214 1.88%
24 Apr 10:44 a.m.
About

Incorporated in 1982, Gujarat Hotels Ltd is an associate company of ITC Limited which operates in Tourism & Hospitality sector.

Key Points

Business Overview:[1]
ITC Limited holds 45.78% in Gujarat Hotels Limited. Company owns the Welcome Hotel Vadodara in Vadodara which is operated by ITC Limited under an Operating Licence Agreement

  • Market Cap 81.1 Cr.
  • Current Price 214
  • High / Low 239 / 140
  • Stock P/E 17.2
  • Book Value 117
  • Dividend Yield 0.92 %
  • ROCE 13.9 %
  • ROE 11.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 21.9%
  • Debtor days have improved from 150 to 118 days.

Cons

  • Company has a low return on equity of 10.1% over last 3 years.
  • Earnings include an other income of Rs.2.89 Cr.
  • Working capital days have increased from 1,629 days to 4,621 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
0.39 0.15 0.60 0.81 0.57 0.79 0.69 1.09 1.09 0.65 0.66 1.05 1.08
0.10 0.07 0.10 0.09 0.12 0.07 0.11 0.12 0.11 0.10 0.13 0.10 0.10
Operating Profit 0.29 0.08 0.50 0.72 0.45 0.72 0.58 0.97 0.98 0.55 0.53 0.95 0.98
OPM % 74.36% 53.33% 83.33% 88.89% 78.95% 91.14% 84.06% 88.99% 89.91% 84.62% 80.30% 90.48% 90.74%
0.22 0.37 0.41 0.30 0.36 0.26 0.49 0.57 0.65 0.73 0.69 0.66 0.81
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Profit before tax 0.50 0.44 0.90 1.01 0.80 0.97 1.06 1.53 1.62 1.27 1.21 1.60 1.78
Tax % 20.00% -29.55% 24.44% 24.75% 10.00% 5.15% 14.15% 22.88% 22.84% 0.79% 23.97% 24.38% 24.72%
0.40 0.57 0.67 0.76 0.72 0.92 0.91 1.17 1.24 1.26 0.92 1.21 1.34
EPS in Rs 1.06 1.50 1.77 2.01 1.90 2.43 2.40 3.09 3.27 3.33 2.43 3.19 3.54
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3.35 3.00 3.20 3.49 3.25 3.31 3.70 3.75 0.99 2.13 3.66 3.44
0.21 0.23 0.26 0.39 0.35 0.44 0.43 0.38 0.31 0.38 0.41 0.43
Operating Profit 3.14 2.77 2.94 3.10 2.90 2.87 3.27 3.37 0.68 1.75 3.25 3.01
OPM % 93.73% 92.33% 91.88% 88.83% 89.23% 86.71% 88.38% 89.87% 68.69% 82.16% 88.80% 87.50%
1.33 1.51 1.11 1.81 1.87 1.71 1.96 2.17 2.06 1.44 1.97 2.89
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
Profit before tax 4.42 4.23 4.00 4.86 4.72 4.53 5.18 5.49 2.69 3.14 5.17 5.85
Tax % 24.21% 22.46% 31.75% 33.13% 18.22% 25.83% 21.43% 21.68% 15.61% 13.69% 17.79% 19.32%
3.34 3.27 2.73 3.25 3.86 3.37 4.08 4.30 2.27 2.72 4.25 4.72
EPS in Rs 8.82 8.63 7.21 8.58 10.19 8.90 10.77 11.35 5.99 7.18 11.22 12.46
Dividend Payout % 39.72% 40.57% 48.59% 40.82% 34.37% 39.36% 32.51% 22.03% 30.05% 27.87% 17.84% 20.07%
Compounded Sales Growth
10 Years: 1%
5 Years: -1%
3 Years: 51%
TTM: -6%
Compounded Profit Growth
10 Years: 7%
5 Years: 3%
3 Years: 28%
TTM: 11%
Stock Price CAGR
10 Years: 4%
5 Years: 15%
3 Years: 28%
1 Year: 40%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 10%
Last Year: 11%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.79
Reserves 13.62 15.34 16.49 20.34 22.61 24.35 26.83 29.53 30.85 32.89 36.38 40.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2.83 2.90 3.05 2.18 2.11 2.53 2.32 2.61 2.68 2.29 2.38 2.64
Total Liabilities 20.24 22.03 23.33 26.31 28.51 30.67 32.94 35.93 37.32 38.97 42.55 46.78
1.84 1.78 1.72 1.66 1.61 1.56 1.47 1.42 1.37 1.33 1.28 1.23
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 13.91 15.42 15.15 17.72 19.20 20.85 28.03 31.36 33.39 26.64 38.12 42.78
4.49 4.83 6.46 6.93 7.70 8.26 3.44 3.15 2.56 11.00 3.15 2.77
Total Assets 20.24 22.03 23.33 26.31 28.51 30.67 32.94 35.93 37.32 38.97 42.55 46.78

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1.90 1.74 1.51 1.83 1.69 1.77 1.85 2.84 0.83 0.94 1.80 2.88
-0.47 -0.19 2.07 -0.21 0.40 0.13 -5.04 -1.18 0.02 -0.11 -1.22 -1.77
-1.39 -1.51 -1.52 -1.57 -1.60 -1.60 -1.60 -1.60 -0.95 -0.68 -0.76 -0.76
Net Cash Flow 0.04 0.04 2.06 0.05 0.49 0.30 -4.79 0.06 -0.10 0.15 -0.18 0.36

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 86.07 103.42 130.03 120.27 156.11 156.59 160.80 141.13 320.76 169.65 163.55 117.78
Inventory Days
Days Payable
Cash Conversion Cycle 86.07 103.42 130.03 120.27 156.11 156.59 160.80 141.13 320.76 169.65 163.55 117.78
Working Capital Days -51.21 -34.07 -94.67 110.86 116.80 90.42 102.59 87.60 132.73 145.66 120.67 4,620.86
ROCE % 20.16% 16.37% 15.83% 15.58% 18.68% 16.61% 17.63% 17.11% 7.92% 8.81% 13.45%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70% 53.70%
46.30% 46.30% 46.30% 46.30% 46.30% 46.30% 46.30% 46.31% 46.30% 46.30% 46.30% 46.29%
No. of Shareholders 5,5035,5115,4035,3875,3325,3275,1735,1425,0675,1334,9415,164

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