Saj Hotels Ltd
Incorporated in 1981, Saj Hotels Ltd is in the hospitality business of running hotels & resorts.[1]
- Market Cap ₹ 64.4 Cr.
- Current Price ₹ 40.0
- High / Low ₹ 80.2 / 34.1
- Stock P/E 21.5
- Book Value ₹ 74.4
- Dividend Yield 0.00 %
- ROCE 5.10 %
- ROE 2.53 %
- 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 3.40% over last 3 years.
- Contingent liabilities of Rs.54.3 Cr.
- Earnings include an other income of Rs.3.16 Cr.
- Working capital days have increased from 86.0 days to 361 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
Consumer Discretionary Consumer Services Leisure Services Hotels & Resorts
Part of Nifty SME Emerge
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 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 5.08 | 9.09 | 10.30 | 14.03 | 15.75 | 16.88 | |
| 3.24 | 4.64 | 5.08 | 7.51 | 9.39 | 11.46 | |
| Operating Profit | 1.84 | 4.45 | 5.22 | 6.52 | 6.36 | 5.42 |
| OPM % | 36.22% | 48.95% | 50.68% | 46.47% | 40.38% | 32.11% |
| 0.30 | 0.19 | 0.08 | -1.07 | 1.23 | 3.16 | |
| Interest | 1.44 | 0.54 | 0.17 | 0.09 | 0.08 | 2.27 |
| Depreciation | 1.11 | 1.13 | 1.30 | 2.17 | 1.89 | 2.13 |
| Profit before tax | -0.41 | 2.97 | 3.83 | 3.19 | 5.62 | 4.18 |
| Tax % | 14.63% | 22.56% | 24.28% | 34.80% | 32.21% | 31.10% |
| -0.48 | 2.30 | 2.90 | 2.08 | 3.81 | 2.88 | |
| EPS in Rs | -20.21 | 96.84 | 122.11 | 1.75 | 2.36 | 1.79 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 18% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 53% |
| 3 Years: | 1% |
| TTM: | -15% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -45% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 3% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 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 | 103.77 |
| 8.93 | 9.51 | 6.13 | 2.92 | 0.32 | 22.78 | |
| 2.64 | 3.11 | 7.23 | 6.07 | 7.17 | 2.52 | |
| Total Liabilities | 32.51 | 35.86 | 39.29 | 98.28 | 124.50 | 145.19 |
| 26.87 | 26.90 | 34.69 | 91.64 | 97.06 | 97.67 | |
| CWIP | 0.19 | 5.20 | 0.80 | 1.32 | 1.43 | 3.13 |
| Investments | 0.51 | 0.71 | 0.20 | 0.20 | 0.20 | 0.70 |
| 4.94 | 3.05 | 3.60 | 5.12 | 25.81 | 43.69 | |
| Total Assets | 32.51 | 35.86 | 39.29 | 98.28 | 124.50 | 145.19 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 3.23 | 5.49 | 7.60 | 3.35 | 4.69 | -0.72 | |
| 0.14 | -6.20 | -4.31 | 0.48 | -8.72 | -23.90 | |
| -2.98 | 1.80 | -3.38 | -3.32 | 21.24 | 20.18 | |
| Net Cash Flow | 0.38 | 1.09 | -0.10 | 0.52 | 17.20 | -4.43 |
| Free Cash Flow | 3.10 | -0.69 | 2.73 | 3.65 | -2.40 | -7.87 |
| CFO/OP | 176% | 137% | 162% | 69% | 85% | 17% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 9.34 | 3.61 | 1.06 | 3.12 | 5.10 | 13.19 |
| Inventory Days | 20.62 | |||||
| Days Payable | 92.80 | |||||
| Cash Conversion Cycle | 9.34 | 3.61 | 1.06 | 3.12 | 5.10 | -58.98 |
| Working Capital Days | -464.15 | -317.22 | -294.48 | -116.29 | 12.98 | 361.32 |
| ROCE % | 11.21% | 12.31% | 7.48% | 5.08% | 5.10% |
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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Extracted by Screener AI
Documents
Announcements
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Clarification - Financial Results
13 May 2026 - Exchange has sought clarification from Saj Hotels Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …
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Copy of Newspaper Publication
7 May 2026 - Newspaper publications submitted for audited standalone and consolidated results for quarter and year ended 31 March 2026.
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Outcome of Board Meeting
5 May 2026 - Board appointed Jugal Kishor Mimani as CFO, approved FY26 audited results, and named internal auditor.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
13 April 2026 - Regulation 74(5) certificate for quarter ended March 31, 2026; no physical shares received for demat.
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Updates
27 March 2026 - Promoter Kartik Timbadia bought shares on NSE on 27/03/2026; post-holding reported ~2.02%.
Business Overview:[1]
SHL is principally engaged in the hospitality industry i.e the business of establishing and/or running hotels, motels, resorts, clubs, ‘restaurants, cafes, bars,’ road houses, holiday camps, amusement parks, recreation centres, convention centre.