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Results
13-Nov-25
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Analysis
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Apeejay Surrendra Park Hotels
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Revenue up 17% YoY to Rs 165.4 crore in Q2FY2026
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On consolidated basis
Quarter ended September
2025 compared with Quarter ended September 2024.
Net sales (including other operating income) of Apeejay Surrendra Park Hotels
has increased 16.83% to Rs 165.39 crore.
Operating profit margin
has declined from 30.11% to 29.63%, leading to 14.94% rise in operating profit
to Rs 49.00 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 12.63% to 13.67%. Employee cost
decreased from 23.78% to 22.95%. Other expenses rose from 33.49% to
33.80%.
Other income fell 91.87%
to Rs 1.2 crore. PBIDT fell 12.53% to Rs 50.2
crore. Provision for interest fell 2.35% to Rs 4.58
crore. Loan funds rose to Rs 306.01 crore as of 30 September 2025 from
Rs 138.42 crore as of 30 September 2024. Inventories rose to Rs
114.56 crore as of 30 September 2025 from Rs 111.61 crore as of 30 September
2024. Sundry debtors were higher at Rs 38.21 crore as of 30
September 2025 compared to Rs 30.27 crore as of 30 September
2024. Cash and bank balance rose to Rs 36.09 crore as of 30
September 2025 from Rs 33.90 crore as of 30 September
2024. Investments rose to Rs 44.93 crore as of 30 September 2025
from Rs 15.49 crore as of 30 September 2024 .
PBDT fell 13.43% to Rs
45.62 crore. Provision for depreciation rose 28.16% to Rs 17.66
crore. Fixed assets increased to Rs 1,553.25 crore as of 30
September 2025 from Rs 1,206.36 crore as of 30 September
2024. Intangible assets declined from Rs 47.70 crore to Rs 22.81
crore.
Profit before tax down
28.16% to Rs 27.96 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 11.6 crore, compared to
Rs 12.16 crore. Effective tax rate was 41.71% compared to 31.24%.
Net profit attributable
to owners of the company decreased 39.44% to Rs 16.20 crore.
Equity capital stood at
Rs 21.34 crore as of 30 September 2025 to Rs 21.34 crore as of 30 September
2024. Per share face Value remained same at Rs 1.00.
Promoters’ stake was
68.14% as of 30 September 2025 ,compared to 68.14% as of 30 September 2024
.
Year-to-date (YTD)
results analysis.
Net sales (including other operating income) of Apeejay Surrendra Park Hotels
has increased 15.54% to Rs 319.64 crore.
Operating profit margin
has jumped from 28.95% to 29.53%, leading to 17.84% rise in operating profit to
Rs 94.39 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 12.69% to 13.36%. Employee cost
decreased from 23.56% to 23.35%. Other expenses fell from 34.81% to
33.81%.
Other income fell 80.58%
to Rs 3.48 crore. PBIDT fell 0.15% to Rs 97.87
crore. Provision for interest rose 57.02% to Rs 11.07
crore. Loan funds rose to Rs 306.01 crore as of 30 September 2025
from Rs 138.42 crore as of 30 September 2024. Inventories rose to Rs
114.56 crore as of 30 September 2025 from Rs 111.61 crore as of 30 September
2024. Sundry debtors were higher at Rs 38.21 crore as of 30
September 2025 compared to Rs 30.27 crore as of 30 September
2024. Cash and bank balance rose to Rs 36.09 crore as of 30
September 2025 from Rs 33.90 crore as of 30 September
2024. Investments rose to Rs 44.93 crore as of 30 September 2025
from Rs 15.49 crore as of 30 September 2024 .
PBDT fell 4.58% to Rs
86.8 crore. Provision for depreciation rose 30.10% to Rs 35.7
crore. Fixed assets increased to Rs 1,553.25 crore as of 30
September 2025 from Rs 1,206.36 crore as of 30 September
2024. Intangible assets declined from Rs 47.70 crore to Rs 22.81 crore.
Profit before tax down
19.57% to Rs 51.10 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 20.58 crore, compared
to Rs 38.68 crore. Effective tax rate was 40.98% compared to 60.88%.
Net profit attributable
to owners of the company increased 19.28% to Rs 29.63 crore.
Equity capital stood at
Rs 21.34 crore as of 30 September 2025 to Rs 21.34 crore as of 30 September
2024. Per share face Value remained same at Rs 1.00.
Promoters’ stake was
68.14% as of 30 September 2025 ,compared to 68.14% as of 30 September 2024
.
Full year results analysis.
Net sales (including other operating income) of Apeejay Surrendra Park Hotels
has increased 9.06% to Rs 631.45 crore. Sales of Hospitality segment
has gone up 9.08% to Rs 630.39 crore (accounting for 99.83% of total
sales). Sales of Others segment has gone down 0.93% to Rs 1.06 crore
(accounting for 0.17% of total sales).
Profit before interest,
tax and other unallocable items (PBIT) has jumped 10.33% to Rs 226.42
crore. PBIT of Hospitality segment rose 10.36% to Rs 226.18 crore
(accounting for 99.89% of total PBIT). PBIT of Others segment fell
17.24% to Rs 0.24 crore (accounting for 0.11% of total PBIT).
PBIT margin of
Hospitality segment rose from 35.46% to 35.88%. PBIT margin of
Others segment fell from 27.10% to 22.64%. Overall PBIT margin rose
from 35.45% to 35.86%.
Operating profit margin
has declined from 33.25% to 33.01%, leading to 8.27% rise in operating profit
to Rs 208.42 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 13.11% to 12.58%. Employee cost
increased from 19.91% to 22.36%. Other expenses fell from 33.73% to
32.07%.
Other income rose 71.90%
to Rs 21.9 crore. PBIDT rose 12.22% to Rs 230.32
crore. Provision for interest fell 69.05% to Rs 20.44
crore. Loan funds rose to Rs 167.63 crore as of 31 March 2025 from
Rs 99.90 crore as of 31 March 2024. Inventories rose to Rs 111.78
crore as of 31 March 2025 from Rs 15.24 crore as of 31 March
2024. Sundry debtors were higher at Rs 38.48 crore as of 31 March
2025 compared to Rs 33.53 crore as of 31 March 2024. Cash and bank
balance declined from Rs 61.78 crore as of 31 March 2024 to Rs 21.43 crore as
of 31 March 2025. Investments rose to Rs 56.15 crore as of 31 March
2025 from Rs 0.02 crore as of 31 March 2024 .
PBDT rose 50.78% to Rs
209.88 crore. Provision for depreciation rose 22.22% to Rs 61.77
crore. Fixed assets increased to Rs 1,306.00 crore as of 31 March
2025 from Rs 1,252.55 crore as of 31 March 2024. Intangible assets
stood at Rs 22.81 crore.
Profit before tax grew
67.05% to Rs 148.11 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 64.51 crore, compared
to Rs 19.89 crore. Effective tax rate was 43.56% compared to 22.43%.
Net profit attributable
to owners of the company increased 21.51% to Rs 83.59 crore.
Equity capital decreased
from Rs 21.34 crore as of 31 March 2024 to Rs 21.31 crore as of 31 March 2025
. Per share face Value remained same at Rs 1.00.
Promoters’ stake was
68.14% as of 31 March 2025 ,compared to 68.14% as of 31 March 2024
.
Cash flow from operating
activities decreased to Rs 157.62 crore for year ended March 2025 from Rs
168.19 crore for year ended March 2024. Cash flow used in acquiring
fixed assets during the year ended March 2025 stood at Rs 150.99 crore,
compared to Rs 118.96 crore during the year ended March 2024.
Operational highlights:
Q2FY2026
Highest occupancy of 93%.
ARR growth of 13% and RevPAR growth of 12%.
FLURYS outlets at 102.
Management Commentary:
Commenting on the Q2 & H1 FY26 performance Mr. Vijay
Dewan, Managing Director said:
“This has been our best-ever second quarter — a period of
accelerated momentum and sustained growth. We have achieved strong high teen
revenue expansion and mid-teen EBITDA growth, reaffirming the strength of our
strategy and brand. The result is amplified by attaining India`s leading
occupancy of 93%, 13% growth in ARR and 12% growth in RevPAR.
Our expansion plans are progressing steadily, with the
acquisition of Zillion Hotel at Juhu, Mumbai and the new Kolkata project
breaking ground in January 2026. These milestones mark significant steps in our
journey of building iconic hotels across India.
Recognition for Ran Baas The Palace, Patiala and The Lotus
Palace, Chettinad on the global stage further reinforces our position as a
design-led, experience-driven hospitality group.
As we move ahead, our focus remains on further improving
growth, deepening guest engagement, and creating enduring value for all
stakeholders.”| Apeejay Surrendra Park Hotels : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202509 | 202409 | Var.(%) | 202509 | 202409 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 165.39 | 141.57 | 16.83 | 319.64 | 276.64 | 15.54 | 631.45 | 578.97 | 9.06 | | OPM (%) | 29.63 | 30.11 | -49 bps | 29.53 | 28.95 | 58 bps | 33.01 | 33.25 | -24 bps | | OP | 49.00 | 42.63 | 14.94 | 94.39 | 80.10 | 17.84 | 208.42 | 192.50 | 8.27 | | Other Inc. | 1.20 | 14.76 | -91.87 | 3.48 | 17.92 | -80.58 | 21.90 | 12.74 | 71.90 | | PBIDT | 50.20 | 57.39 | -12.53 | 97.87 | 98.02 | -0.15 | 230.32 | 205.24 | 12.22 | | Interest | 4.58 | 4.69 | -2.35 | 11.07 | 7.05 | 57.02 | 20.44 | 66.04 | -69.05 | | PBDT | 45.62 | 52.70 | -13.43 | 86.80 | 90.97 | -4.58 | 209.88 | 139.20 | 50.78 | | Depreciation | 17.66 | 13.78 | 28.16 | 35.7 | 27.44 | 30.10 | 61.77 | 50.54 | 22.22 | | PBT | 27.96 | 38.92 | -28.16 | 51.1 | 63.53 | -19.57 | 148.11 | 88.66 | 67.05 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 27.96 | 38.92 | -28.16 | 51.1 | 63.53 | -19.57 | 148.11 | 88.66 | 67.05 | | EO Income | -0.15 | 0 | - | -0.88 | 0 | - | 0 | 0 | - | | PBT after EO | 27.81 | 38.92 | -28.55 | 50.22 | 63.53 | -20.95 | 148.11 | 88.66 | 67.05 | | Taxation | 11.6 | 12.16 | -4.61 | 20.58 | 38.68 | -46.79 | 64.51 | 19.89 | 224.33 | | PAT | 16.21 | 26.76 | -39.42 | 29.64 | 24.85 | 19.28 | 83.6 | 68.77 | 21.56 | | Minority Interest (MI) | 0.01 | 0.01 | 0 | 0.01 | 0.01 | 0 | 0.01 | -0.02 | PL | | Net profit | 16.2 | 26.75 | -39.44 | 29.63 | 24.84 | 19.28 | 83.59 | 68.79 | 21.51 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 16.2 | 26.75 | -39.44 | 29.63 | 24.84 | 19.28 | 83.59 | 68.79 | 21.51 | | EPS (Rs)* | 0.76 | 1.25 | -39.10 | 1.41 | 1.16 | 21.38 | 3.92 | 3.22 | 21.51 | | | * EPS is on current equity of Rs 21.34 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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Previous News |
Apeejay Surrendra Park Hotels consolidated net profit declines 39.44% in the September 2025 quarter
(
Results
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Announcements
13-Nov-25
14:50
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Apeejay Surrendra Park Hotels reports consolidated net loss of Rs 1.88 crore in the June 2024 quarter
(
Results
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Announcements
16-Aug-24
07:33
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Apeejay Surrendra Park Hotels
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New Issue Monitor
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Apeejay Surrendra Park Hotels consolidated net profit rises 74.06% in the March 2024 quarter
(
Results
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Announcements
29-May-24
07:38
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Apeejay Surrendra Park Hotels IPO ends with strong subscribption
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IPO Centre
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08-Feb-24
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Apeejay Surrendra Park Hotels makes decent debut
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12-Feb-24
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Shares of Apeejay Surrendra Park Hotels get listed
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12-Feb-24
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Apeejay Surrendra Park Hotel to launch its first tearoom in Mumbai
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Corporate News
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25-Jul-24
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Apeejay Surrendra Park Hotels receives ratings action from ICRA
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Corporate News
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06-May-25
20:17
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Apeejay Surrender Park Hotels
(
Analyst Meet / AGM
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Conference Call
17-Nov-25
15:09
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Apeejay Surrendra Park Hotels IPO subscribed 2.52 times
(
IPO Centre
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IPO News
05-Feb-24
17:34
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