Asian Hotels (West) Ltd (AHLWEST.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

+270.8%

₹1,891.00

vs ₹510.00 price

Levered DCF

₹2,995.25

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 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	2.58×	4.22×	30.48×	5.18×	-1.44×	-1.76×	331.71×	5.5×
P/B	-12.5×	-2.15×	-1.43×	-1.36×	-1.09×	-6.95×	2.96×	3.38×
P/S	0.39×	0.41×	0.42×	0.53×	1.14×	2.11×	0.84×	1.04×
EV / EBITDA	4.58×	6.76×	8.67×	7.3×	37.78×	137.94×	7.79×	6.96×
Gross margin	48.0%	77.5%	62.6%	64.9%	52.8%	48.6%	60.8%	33.0%
Operating margin	35.5%	31.5%	33.6%	35.0%	-22.9%	-38.5%	25.9%	26.1%
Net margin	14.9%	9.7%	1.4%	10.2%	-79.2%	-119.6%	0.3%	18.9%
Current ratio	0.27×	0.18×	0.25×	0.23×	0.12×	0.19×	1.05×	1.21×
Debt / equity	-62.47×	-11.73×	-8.5×	-7.79×	-6.47×	-26.64×	8.7×	6.5×
Interest coverage	2.71×	1.9×	0.88×	1.27×	-0.37×	-0.45×	0.95×	1.16×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.4%	0.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	141.9%	1.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-483.7%	-51.0%	-4.7%	-26.4%	75.7%	394.1%	0.9%	61.4%
Return on invested capital	13.9%	13.4%	-12.3%	12.9%	-3.8%	-4.8%	1.0%	9.9%
Return on assets	6.6%	4.1%	0.5%	3.3%	-11.9%	-14.0%	0.1%	6.7%
Free cash flow yield	84.6%	70.1%	86.2%	89.4%	40.6%	4.0%	39.9%	38.7%
Earnings yield	38.7%	23.7%	3.3%	19.3%	-69.4%	-56.7%	0.3%	18.2%
Enterprise value	₹9B	₹10.4B	₹11.1B	₹10.9B	₹11.7B	₹12.6B	₹12.7B	₹11.9B
Net debt / EBITDA	3.73×	5.67×	7.36×	6.17×	32.3×	109.23×	5.78×	4.56×
Cash conversion cycle (days)	-24	-72	-2	-119	66	27	-34	-17