U.P. Hotels Ltd. (UPHOT.BO) 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

+44.4%

₹2,173.89

vs ₹1,505.05 price

Levered DCF

₹1,488.31

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	23.38×	29.21×	23.52×	14.28×	35.42×	-20.94×	43.33×	24.5×
P/B	3.53×	4.79×	4.93×	2.78×	2.47×	1.79×	1.66×	1.74×
P/S	4.66×	5.68×	5.11×	2.67×	3.31×	4.89×	1.65×	1.53×
EV / EBITDA	14.59×	16.56×	14.71×	8.36×	15.2×	-38.56×	14.39×	9.28×
Gross margin	44.2%	43.7%	53.2%	67.1%	40.1%	-10.5%	14.6%	54.4%
Operating margin	22.5%	21.9%	26.0%	23.6%	10.2%	-39.3%	-1.3%	4.6%
Net margin	19.9%	19.4%	21.7%	18.7%	9.3%	-23.4%	3.8%	6.2%
Current ratio	3.4×	4.53×	3.95×	1.89×	3.42×	2.32×	2.28×	2.18×
Debt / equity	0×	0×	0×	0×	0.01×	0×	0×	0×
Interest coverage	1,765.4×	1,011.71×	1,227.1×	819.84×	415.95×	-279.85×	-29.91×	81.48×
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	15.1%	16.4%	21.0%	19.5%	7.0%	-8.5%	3.8%	7.1%
Return on invested capital	12.5%	13.6%	18.5%	17.6%	5.6%	-10.2%	-1.3%	3.5%
Return on assets	13.1%	14.0%	17.5%	15.8%	5.9%	-6.9%	2.9%	5.2%
Free cash flow yield	3.6%	2.8%	4.1%	13.4%	0.0%	-2.9%	-1.9%	1.7%
Earnings yield	4.3%	3.4%	4.3%	7.0%	2.8%	-4.8%	2.3%	4.1%
Enterprise value	₹7.2B	₹8B	₹7.4B	₹3.3B	₹2.3B	₹1.6B	₹1.5B	₹1.5B
Net debt / EBITDA	-0.65×	-1.38×	-0.17×	-0.13×	-0.38×	0.96×	-0.62×	-0.71×
Cash conversion cycle (days)	-2	-2	14	-13	-7	-44	-8	5