Sinclairs Hotels Ltd

₹ 127 -0.82%

24 Apr - close price

sinclairsindia.com BSE: 523023 NSE : SINCLAIR

About

Sinclairs Hotels has 4-star properties in eight locations in India - 5 in West Bengal and
one each at Ooty in Tamil Nadu, Port Blair in the Andamans and Gangtok in Sikkim. The company owns and operates hotels/resorts at prime locations in Burdwan, Darjeeling, Dooars, Kalimpong, Ooty, Port Blair Siliguri and Gangtok.
As of FY2020, it has a total of 396 rooms, 24 suites, 2 villas and several restaurants & banquets across all its hotels.

Key Points

Hotels^[1]
1) Sinclairs Burdwan - 24 rooms
2) Sinclairs Darjeeling - 47 rooms
3) Sinclairs Retreat Dooars - 71 rooms
4) Sinclairs Retreat Kalimpong - 48 rooms
5) Sinclairs Siliguri - 49 rooms
6) Sinclairs Retreat Ooty - 85 rooms
7) Sinclairs Bayview Port Blair - 46 rooms
8) Sinclairs Gangtok - 60 rooms
9) Sinclairs Yangang - 17 rooms

Website BSE NSE

Market Cap ₹ 652 Cr.
Current Price ₹ 127
High / Low ₹ 175 / 51.9
Stock P/E 33.8
Book Value ₹ 26.2
Dividend Yield 0.59 %
ROCE 15.7 %
ROE 13.1 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 38.5%

Cons

Stock is trading at 4.87 times its book value
The company has delivered a poor sales growth of 3.21% over past five years.
Company has a low return on equity of 7.31% over last 3 years.
Earnings include an other income of Rs.26.9 Cr.

* 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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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	6.19	9.97	1.84	4.62	14.77	9.09	18.33	8.35	13.68	13.41	18.46	8.52	14.07
	4.20	6.15	2.70	3.94	6.58	6.19	9.78	6.02	8.23	7.93	8.96	7.38	8.31
Operating Profit	1.99	3.82	-0.86	0.68	8.19	2.90	8.55	2.33	5.45	5.48	9.50	1.14	5.76
OPM %	32.15%	38.31%	-46.74%	14.72%	55.45%	31.90%	46.64%	27.90%	39.84%	40.87%	51.46%	13.38%	40.94%
	1.31	0.58	1.13	1.41	0.72	0.76	0.35	0.95	1.43	19.71	3.37	1.80	2.05
Interest	0.26	0.27	0.27	0.27	0.26	0.26	0.28	0.29	0.29	0.25	0.27	0.26	0.26
Depreciation	1.39	1.27	1.26	1.23	1.01	1.03	1.07	1.09	1.20	1.35	1.33	1.33	1.15
Profit before tax	1.65	2.86	-1.26	0.59	7.64	2.37	7.55	1.90	5.39	23.59	11.27	1.35	6.40
Tax %	23.64%	26.57%	25.40%	64.41%	24.48%	30.80%	24.24%	17.89%	25.05%	15.64%	24.84%	5.93%	14.53%
	1.26	2.11	-0.94	0.21	5.76	1.65	5.73	1.56	4.04	19.90	8.48	1.27	5.47
EPS in Rs	0.23	0.38	-0.17	0.04	1.03	0.30	1.03	0.29	0.74	3.66	1.56	0.23	1.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	14	20	23	29	39	47	46	46	45	17	30	54	54
	11	15	16	18	22	27	27	28	28	13	19	32	33
Operating Profit	3	5	7	11	17	20	19	18	17	4	11	22	22
OPM %	24%	26%	30%	37%	43%	43%	42%	39%	37%	26%	36%	41%	40%
	3	13	5	1	1	2	2	4	2	6	4	22	27
Interest	0	0	0	0	0	0	0	0	0	1	1	1	1
Depreciation	1	2	3	4	7	8	7	8	7	5	5	5	5
Profit before tax	5	15	9	7	11	14	14	14	12	4	9	38	43
Tax %	33%	8%	25%	33%	37%	35%	16%	31%	19%	17%	24%	19%
	3	14	7	5	7	9	12	10	9	4	7	31	35
EPS in Rs	0.51	2.37	1.26	0.85	1.27	1.68	2.12	1.76	1.71	0.63	1.28	5.75	6.52
Dividend Payout %	79%	76%	32%	47%	32%	24%	19%	34%	23%	63%	39%	13%

Compounded Sales Growth
10 Years:	11%
5 Years:	3%
3 Years:	6%
TTM:	10%

Compounded Profit Growth
10 Years:	12%
5 Years:	7%
3 Years:	20%
TTM:	49%

Stock Price CAGR
10 Years:	18%
5 Years:	31%
3 Years:	73%
1 Year:	128%

Return on Equity
10 Years:	8%
5 Years:	8%
3 Years:	7%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	5	5
Reserves	75	78	63	65	71	79	88	95	101	102	107	123	129
	0	0	0	0	0	0	0	0	0	11	10	11	10
	13	8	11	14	13	14	14	15	13	12	13	13	13
Total Liabilities	94	92	80	84	90	98	108	116	119	131	135	152	158
	40	36	36	57	69	66	60	63	58	64	61	55	53
CWIP	14	25	32	17	5	0	0	0	0	0	0	0	0
Investments	31	19	6	3	7	28	42	48	56	62	70	92	92
	9	12	6	7	9	4	5	5	5	4	5	5	13
Total Assets	94	92	80	84	90	98	108	116	119	131	135	152	158

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	3	4	8	10	14	20	17	14	11	3	8	18
	0	11	13	-8	-9	-20	-14	-12	-8	-1	-5	-1
	-5	-13	-22	-3	-5	0	-3	-3	-4	-3	-3	-17
Net Cash Flow	-2	2	-1	-0	0	-0	1	-0	-0	-0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	15	19	10	10	13	11	9	9	7	11	9	9
Inventory Days	53	37	38	34	30	16	33	26	24	33	39	18
Days Payable	125	134	109	118	88	69	112	99	109	233	180	115
Cash Conversion Cycle	-57	-78	-61	-73	-45	-42	-69	-65	-79	-189	-132	-88
Working Capital Days	-104	49	-95	-79	-19	-17	-23	-25	-25	-58	-38	-21
ROCE %	6%	4%	6%	10%	15%	17%	15%	14%	11%	3%	8%	16%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	62.84%	62.84%	62.84%	62.84%	61.20%	62.78%	62.78%	62.78%	62.78%	62.78%	62.67%	62.67%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.05%	0.05%
	0.04%	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	37.12%	37.12%	37.12%	37.16%	38.80%	37.23%	37.22%	37.22%	37.22%	37.17%	37.28%	37.29%
No. of Shareholders	7,949	10,332	12,069	10,944	12,042	11,749	11,608	11,186	10,888	13,831	12,838	19,242

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	52.28%	56.96%	59.18%	62.84%	62.84%	62.84%	62.78%	62.67%
	0.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%
	41.96%	0.04%	0.04%	0.04%	0.04%	0.00%	0.00%	0.00%
	5.76%	42.63%	40.78%	37.12%	37.12%	37.16%	37.22%	37.29%
No. of Shareholders	2,650	5,570	5,203	5,363	7,097	10,944	11,186	19,242

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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