Asian Hotels (East) Limited (AHLEAST.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

-82.8%

₹21.98

vs ₹128.02 price

Levered DCF

-₹1,236.35

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

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	-4.36×	13.8×	8.19×	7.56×	-7.86×	-5.49×	-19.82×	77.76×
P/B	1.4×	0.99×	1.13×	0.89×	0.4×	0.25×	0.2×	0.36×
P/S	2.09×	2.14×	2.39×	1.92×	5.33×	3.33×	0.81×	1.38×
EV / EBITDA	-27.75×	8.07×	8.88×	5.47×	28.97×	901.3×	5.64×	7.49×
Gross margin	64.4%	66.3%	60.7%	50.5%	7.2%	51.4%	57.5%	57.4%
Operating margin	26.6%	22.7%	58.0%	19.4%	-10.1%	-46.7%	10.4%	10.2%
Net margin	-48.0%	15.5%	29.2%	26.2%	-67.7%	-60.7%	-4.1%	1.8%
Current ratio	0.23×	0.33×	1.96×	1.91×	1.67×	2.02×	2.09×	1.58×
Debt / equity	2.34×	1.35×	1.45×	0×	0.2×	0.17×	0.15×	0.16×
Interest coverage	1.6×	0.65×	3.07×	370.47×	-206.63×	-1.79×	1.36×	1.41×
Dividend yield	0.7%	1.8%	1.7%	0.0%	0.0%	0.0%	2.4%	1.1%
Payout ratio	-2.9%	24.7%	13.7%	0.2%	-0.2%	-0.2%	-46.8%	81.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-32.0%	7.2%	13.8%	12.1%	-5.0%	-4.6%	-1.0%	0.5%
Return on invested capital	5.2%	2.8%	8.1%	7.0%	-0.5%	-2.9%	-21.2%	0.8%
Return on assets	-8.4%	2.6%	5.2%	10.2%	-3.8%	-3.5%	-0.8%	0.4%
Free cash flow yield	-23.9%	-4.3%	-149.2%	1.9%	-4.7%	-6.7%	42.7%	10.6%
Earnings yield	-22.9%	7.2%	12.2%	13.6%	-12.7%	-18.2%	-5.1%	1.3%
Enterprise value	₹6.8B	₹5.7B	₹5.9B	₹1.8B	₹4B	₹2.9B	₹2.3B	₹3.9B
Net debt / EBITDA	-17.27×	4.64×	4.98×	-0.04×	9.42×	331.25×	1.99×	2.25×
Cash conversion cycle (days)	-95	-60	-26	-11	49	-28	-37	-12