Advani Hotels & Resorts (India) Limited (ADVANIHOTR.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+92.0%

₹85.66

vs ₹44.61 price

Levered DCF

₹67.77

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.26×	20.41×	27.94×	11.66×	65.21×	-64.59×	12.34×	27.89×
P/B	0.85×	6.63×	9.7×	5.31×	8.46×	6.07×	2.94×	5.82×
P/S	4.08×	5.02×	7.2×	3.38×	8.23×	9.56×	1.98×	4.51×
EV / EBITDA	12.05×	13.77×	18.86×	8.07×	36.2×	-125.29×	7.74×	18.07×
Gross margin	57.0%	61.2%	53.7%	62.4%	35.6%	-2.2%	34.7%	32.8%
Operating margin	27.3%	29.4%	32.0%	37.2%	15.8%	28.9%	18.9%	17.8%
Net margin	22.4%	24.6%	25.8%	29.0%	12.7%	-14.9%	16.1%	16.2%
Current ratio	3.27×	3×	2.56×	2.19×	1.69×	1.17×	1.43×	1.9×
Debt / equity	0.01×	0.01×	0.03×	0.03×	0.02×	0.02×	0.03×	0.03×
Interest coverage	421.55×	279.01×	259.7×	223.48×	133.12×	47.83×	90.22×	261.92×
Dividend yield	4.0%	3.1%	2.2%	4.7%	0.0%	0.0%	13.1%	1.4%
Payout ratio	72.9%	62.6%	62.5%	54.6%	0.9%	0.0%	162.3%	39.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.6%	32.5%	34.7%	45.6%	13.1%	-9.4%	23.8%	20.9%
Return on invested capital	4.2%	26.7%	28.9%	38.5%	10.6%	12.1%	19.3%	16.2%
Return on assets	4.4%	24.5%	25.0%	31.8%	8.7%	-6.3%	16.6%	15.0%
Free cash flow yield	5.1%	3.3%	3.6%	7.1%	3.0%	0.4%	9.2%	3.1%
Earnings yield	5.5%	4.9%	3.6%	8.6%	1.5%	-1.6%	8.1%	3.6%
Enterprise value	₹4.2B	₹5.3B	₹7B	₹3.3B	₹4.2B	₹2.6B	₹1.4B	₹3.2B
Net debt / EBITDA	-0.49×	-0.27×	-0.03×	-0.02×	-0.01×	0.45×	-0.01×	0.08×
Cash conversion cycle (days)	-3	-1	-14	-5	-14	-23	-0	4