Apeejay Surrendra Park Hotels Ltd
Incorporated in 1987, Apeejay Surrendra Park Hotels Limited is engaged in the hospitality business operating under the brand names of "THE PARK", "THE PARK Collection", "Zone by The Park", "Zone Connect by The Park" and "Stop by Zone"[1]
- Market Cap ₹ 3,836 Cr.
- Current Price ₹ 180
- High / Low ₹ 235 / 146
- Stock P/E 55.8
- Book Value ₹ 56.2
- Dividend Yield 0.00 %
- ROCE 12.5 %
- ROE 7.84 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 43.9% CAGR over last 5 years
Cons
- Stock is trading at 3.19 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.64% over last 3 years.
- Company's cost of borrowing seems high
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 383 | 421 | 179 | 255 | 506 | 579 | |
| 308 | 336 | 167 | 209 | 347 | 386 | |
| Operating Profit | 75 | 85 | 12 | 46 | 159 | 192 |
| OPM % | 20% | 20% | 7% | 18% | 31% | 33% |
| 4 | 8 | -4 | 12 | 18 | 13 | |
| Interest | 42 | 50 | 57 | 60 | 62 | 66 |
| Depreciation | 31 | 31 | 38 | 40 | 49 | 51 |
| Profit before tax | 7 | 12 | -87 | -42 | 65 | 89 |
| Tax % | 218% | 20% | 13% | 33% | 27% | 22% |
| -8 | 10 | -76 | -28 | 48 | 69 | |
| EPS in Rs | -4.56 | 5.58 | -4.34 | -1.61 | 2.75 | 3.22 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 48% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 44% |
| 3 Years: | 46% |
| TTM: | 43% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 5% |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 21 |
| Reserves | 564 | 570 | 519 | 491 | 538 | 1,177 |
| 477 | 487 | 616 | 654 | 617 | 100 | |
| 150 | 161 | 129 | 113 | 189 | 178 | |
| Total Liabilities | 1,209 | 1,235 | 1,280 | 1,275 | 1,362 | 1,476 |
| 1,070 | 1,078 | 1,157 | 1,142 | 1,192 | 1,218 | |
| CWIP | 23 | 31 | 27 | 29 | 35 | 57 |
| Investments | 3 | 0 | 0 | 0 | 0 | 0 |
| 112 | 126 | 96 | 104 | 135 | 201 | |
| Total Assets | 1,209 | 1,235 | 1,280 | 1,275 | 1,362 | 1,476 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 60 | 99 | 27 | 58 | 176 | 168 | |
| -37 | -61 | -25 | -22 | -42 | -101 | |
| -18 | -42 | -5 | -37 | -126 | -40 | |
| Net Cash Flow | 4 | -4 | -4 | -1 | 8 | 28 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 26 | 24 | 40 | 27 | 19 | 21 |
| Inventory Days | 103 | 74 | 73 | |||
| Days Payable | 198 | 229 | 233 | |||
| Cash Conversion Cycle | -69 | -132 | 40 | 27 | 19 | -139 |
| Working Capital Days | 1 | 9 | -83 | -41 | -53 | -20 |
| ROCE % | 6% | 2% | 11% |
Documents
Announcements
- Closure of Trading Window 28 Jun
- Announcement Under Regulation 30 (LODR)- Credit Rating 21 Jun
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
18 Jun - Press Release regarding signing of new hotel in Nainital, Uttarakhand
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Announcement Under Regulation 30 (LODR)-Intimation With Respect To A New Hotel
8 Jun - With respect to a new hotel "The Park" in Amgarhi, Nainital, Uttarakhand (India)
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Announcement Under Regulation 30 (LODR)-Earnings Call Transcript
6 Jun - Transcript of the conference call held with Investors and Analysts on the audited financial results for the quarter and financial year ended March 31, 2024
Concalls
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Jun 2024Transcript PPT
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Mar 2024Transcript PPT
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Mar 2024TranscriptNotesPPT
Leading Hospitality Company[1] Among hotel chains with asset ownership, they rank as the eighth largest in India in terms of chain-affiliated hotel room inventory as of September 30, 2023. Of the 45,800 rooms owned by chained affiliated hotels across the country, the Company comprises about 1,300 rooms constituting 2.80% of the total inventory.