Saj Hotels Ltd
Incorporated in 1981, Saj Hotels Limited, operates in the hospitality industry, providing a variety of services, including resort accommodations, villa rentals, and restaurant and bar facilities.[1]
- Market Cap ₹ 63.6 Cr.
- Current Price ₹ 39.4
- High / Low ₹ 80.2 / 34.1
- Stock P/E 21.9
- Book Value ₹ 73.2
- Dividend Yield 0.00 %
- ROCE 5.08 %
- ROE 3.44 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.54 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.06% over last 3 years.
- Contingent liabilities of Rs.54.3 Cr.
- Earnings include an other income of Rs.3.01 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
Consumer Discretionary Consumer Services Leisure Services Hotels & Resorts
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 5.08 | 9.09 | 10.30 | 14.03 | 15.75 | 16.95 | |
| 3.24 | 4.64 | 5.08 | 7.51 | 9.39 | 11.99 | |
| Operating Profit | 1.84 | 4.45 | 5.22 | 6.52 | 6.36 | 4.96 |
| OPM % | 36.22% | 48.95% | 50.68% | 46.47% | 40.38% | 29.26% |
| 0.30 | 0.19 | 0.08 | -1.07 | 1.23 | 3.01 | |
| Interest | 1.44 | 0.54 | 0.17 | 0.09 | 0.08 | 1.62 |
| Depreciation | 1.11 | 1.13 | 1.30 | 2.17 | 1.89 | 2.07 |
| Profit before tax | -0.41 | 2.97 | 3.83 | 3.19 | 5.62 | 4.28 |
| Tax % | 14.63% | 22.56% | 24.28% | 34.80% | 32.21% | |
| -0.48 | 2.30 | 2.90 | 2.08 | 3.81 | 2.91 | |
| EPS in Rs | -20.21 | 96.84 | 122.11 | 1.75 | 2.36 | 1.81 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 20% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 16% |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -46% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 5% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2.38 | 2.38 | 2.38 | 11.88 | 16.12 | 16.12 |
| Reserves | 18.56 | 20.86 | 23.55 | 77.41 | 100.89 | 101.89 |
| 8.93 | 9.51 | 6.13 | 2.92 | 0.32 | 20.46 | |
| 2.64 | 3.11 | 7.23 | 6.07 | 7.17 | 4.29 | |
| Total Liabilities | 32.51 | 35.86 | 39.29 | 98.28 | 124.50 | 142.76 |
| 26.87 | 26.90 | 34.69 | 91.64 | 97.06 | 97.69 | |
| CWIP | 0.19 | 5.20 | 0.80 | 1.32 | 1.43 | 2.54 |
| Investments | 0.51 | 0.71 | 0.20 | 0.20 | 0.20 | 0.20 |
| 4.94 | 3.05 | 3.60 | 5.12 | 25.81 | 42.33 | |
| Total Assets | 32.51 | 35.86 | 39.29 | 98.28 | 124.50 | 142.76 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 3.23 | 5.49 | 7.60 | 3.35 | 4.69 | |
| 0.14 | -6.20 | -4.31 | 0.48 | -8.72 | |
| -2.98 | 1.80 | -3.38 | -3.32 | 21.24 | |
| Net Cash Flow | 0.38 | 1.09 | -0.10 | 0.52 | 17.20 |
| Free Cash Flow | 3.10 | -0.69 | 2.73 | 3.65 | -2.40 |
| CFO/OP | 176% | 137% | 162% | 69% | 85% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 9.34 | 3.61 | 1.06 | 3.12 | 5.10 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 9.34 | 3.61 | 1.06 | 3.12 | 5.10 |
| Working Capital Days | -464.15 | -317.22 | -294.48 | -116.29 | 12.98 |
| ROCE % | 11.21% | 12.31% | 7.48% | 5.08% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Trade Receivable Turnover Ratio Times |
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| Number of Permanent Employees Employees |
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| Number of QSR Outlets (Daily Dosa) Outlets |
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| Number of Rooms at Malsej (Saj by the Lake) Rooms |
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Documents
Announcements
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Updates
27 March 2026 - Promoter Kartik Timbadia bought shares on NSE on 27/03/2026; post-holding reported ~2.02%.
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Trading Window
25 March 2026 - Trading window closed from 1 April 2026 until 48 hours after audited results for year ended 31 March 2025.
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Updates
17 March 2026 - La‑Tim Lifestyle bought 6,000 SAJ HOTELS shares on 17-Mar-2026; holding rose to 360,000 (2.23%).
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Updates
12 March 2026 - La-Tim Lifestyle bought 2,000 SAJHOTELS shares on 12-Mar-2026; holding rose to 354,000 (2.20%).
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Resignation
4 March 2026 - SAJ Hotels CFO Usha Ghelani resigns effective close of business March 31, 2026.
Business Profile[1] The company offers a range of accommodation options across various destinations. The resorts are versatile event venues, capable of hosting conferences, weddings, and social events.