TGB Banquets and Hotels Limited (TGBHOTELS.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

+75.6%

₹15.50

vs ₹8.83 price

Levered DCF

-₹21.06

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.53

Distress zone

Rating

Overall 3 / 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	15.43×	16×	-12.46×	17.02×	-1.31×	-1.51×	7.41×	-0.62×
P/B	0.29×	0.41×	0.6×	0.3×	0.35×	0.13×	0.06×	0.34×
P/S	0.58×	0.82×	1.22×	0.61×	1×	0.84×	0.19×	0.42×
EV / EBITDA	4.18×	5.17×	15.02×	8.35×	-5.79×	-4.66×	3.79×	-1.07×
Gross margin	44.4%	41.3%	27.3%	25.1%	57.3%	23.9%	69.6%	56.9%
Operating margin	4.4%	3.2%	-15.3%	-0.4%	-43.5%	-27.9%	-52.5%	-51.9%
Net margin	3.7%	5.2%	-9.8%	3.6%	-76.1%	-55.7%	2.6%	-67.1%
Current ratio	3.06×	3.01×	2.76×	2.28×	2.09×	1.49×	1.67×	1.39×
Debt / equity	0.16×	0.21×	0.1×	0.21×	0.27×	0.12×	0.13×	0.12×
Interest coverage	1.16×	0.82×	-3.05×	-0.09×	-6.28×	-3.08×	-13.81×	-27.25×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.8%	2.6%	-4.8%	1.8%	-26.7%	-8.6%	0.9%	-54.3%
Return on invested capital	1.9%	1.3%	-6.7%	-0.2%	-10.4%	-3.6%	-14.9%	-36.2%
Return on assets	1.3%	1.7%	-3.3%	1.1%	-15.2%	-5.0%	0.5%	-30.5%
Free cash flow yield	12.8%	27.6%	20.5%	19.7%	-158.9%	-2.5%	-57.7%	-1.2%
Earnings yield	6.5%	6.3%	-8.0%	5.8%	-76.0%	-66.2%	13.7%	-160.4%
Enterprise value	₹338.8M	₹447.1M	₹512M	₹388.6M	₹464.3M	₹234M	₹178.9M	₹418.3M
Net debt / EBITDA	1.45×	1.59×	2.01×	3.32×	-2.45×	-2.18×	2.46×	-0.2×
Cash conversion cycle (days)	476	371	397	421	466	-22	-202	27