LEMONTREE
Lemon Tree Hotels Limited
Multi-brand hospitality platform with hotels across various segments
Consumer Discretionary›Consumer Services›Leisure Services›Hotels & Resorts
lemontreehotels.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹113.42
Market cap
9,002 Cr
Stock P/E
38.3
P/B
6.45
ROE (FY26)
10.9%
ROCE (FY26)
12.9%
Operating margin (FY26)
38.2%
Debt / equity (FY26)
1.44
OCF / EBITDA (FY26)
78.4%
OCF / EBITDA (3Y)
83.8%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Lemon Tree Hotels owns, leases and manages hotels across India under several brands, from the upscale Aurika and Lemon Tree Premier to Lemon Tree Hotels, Red Fox and the Keys range, selling rooms to corporate, airline, group and retail guests and earning fees from hotels it runs for owners.
Company snapshot
7thBy market cap
Ranked among 37 companies in Hotels & Resorts.
What we see
Positives
- ✓Net margin of 20.0% — the business keeps a healthy share of every rupee it earns.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 227 Cr | 289 Cr | 327 Cr | 268 Cr | 284 Cr | 355 Cr | 379 Cr | 316 Cr | 306 Cr | 406 Cr | 416 Cr | 345 Cr |
| Operating expenses (approx.) | 125 Cr | 149 Cr | 156 Cr | 153 Cr | 154 Cr | 171 Cr | 174 Cr | 175 Cr | 176 Cr | 201 Cr | 201 Cr | 195 Cr |
| EBITDA | 102 Cr | 140 Cr | 171 Cr | 115 Cr | 131 Cr | 184 Cr | 204 Cr | 141 Cr | 131 Cr | 205 Cr | 215 Cr | 150 Cr |
| OPM % | 44.8% | 48.4% | 52.4% | 42.9% | 46.0% | 51.9% | 53.9% | 44.5% | 42.7% | 50.4% | 51.7% | 43.4% |
| Other income | 3 Cr | 2 Cr | 4 Cr | 0.35 Cr | 0.47 Cr | 0.62 Cr | 0.88 Cr | 2 Cr | 2 Cr | 2 Cr | 3 Cr | 2 Cr |
| Interest | 47 Cr | 53 Cr | 53 Cr | 52 Cr | 51 Cr | 50 Cr | 47 Cr | 45 Cr | 42 Cr | 41 Cr | 39 Cr | 36 Cr |
| Depreciation | 23 Cr | 33 Cr | 33 Cr | 35 Cr | 35 Cr | 35 Cr | 35 Cr | 34 Cr | 34 Cr | 35 Cr | 35 Cr | 36 Cr |
| Profit before tax | 35 Cr | 56 Cr | 89 Cr | 29 Cr | 45 Cr | 100 Cr | 122 Cr | 63 Cr | 56 Cr | 99 Cr | 142 Cr | 79 Cr |
| Tax % | 24.7% | 21.2% | 5.7% | 31.1% | 22.6% | 19.8% | 11.5% | 23.5% | 24.9% | 17.2% | 17.8% | 27.5% |
| Net profit | 26 Cr | 44 Cr | 84 Cr | 20 Cr | 35 Cr | 80 Cr | 108 Cr | 48 Cr | 42 Cr | 82 Cr | 116 Cr | 57 Cr |
| EPS (₹) | ₹0.29 | ₹0.45 | ₹0.85 | ₹0.25 | ₹0.37 | ₹0.79 | ₹1.07 | ₹0.48 | ₹0.44 | ₹0.79 | ₹1.16 | ₹0.58 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 412 Cr | 484 Cr | 550 Cr | 669 Cr | 252 Cr | 402 Cr | 875 Cr | 1,071 Cr | 1,286 Cr | 1,445 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 292 Cr | 348 Cr | 381 Cr | 431 Cr | 190 Cr | 284 Cr | 427 Cr | 548 Cr | 652 Cr | 753 Cr | Sign in free for the trailing twelve months |
| EBITDA | 120 Cr | 136 Cr | 169 Cr | 238 Cr | 61 Cr | 119 Cr | 448 Cr | 523 Cr | 634 Cr | 691 Cr | Sign in free for the trailing twelve months |
| OPM % | 29.1% | 28.1% | 30.7% | 35.6% | 24.3% | 29.5% | 51.2% | 48.8% | 49.3% | 47.8% | Sign in free for the trailing twelve months |
| Other income | 6 Cr | 8 Cr | 10 Cr | 6 Cr | 13 Cr | 14 Cr | 4 Cr | 6 Cr | 2 Cr | 8 Cr | Sign in free for the trailing twelve months |
| Interest | 78 Cr | 74 Cr | 80 Cr | 156 Cr | 182 Cr | 174 Cr | 177 Cr | 202 Cr | 201 Cr | 167 Cr | Sign in free for the trailing twelve months |
| Depreciation | 51 Cr | 53 Cr | 54 Cr | 87 Cr | 108 Cr | 104 Cr | 97 Cr | 112 Cr | 139 Cr | 139 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -2 Cr | 18 Cr | 45 Cr | -2 Cr | -219 Cr | -145 Cr | 178 Cr | 216 Cr | 296 Cr | 359 Cr | Sign in free for the trailing twelve months |
| Tax % | -189.7% | 20.6% | -24.5% | -499.7% | 14.7% | 5.0% | 21.2% | 15.8% | 17.9% | 19.7% | Sign in free for the trailing twelve months |
| Net profit | -7 Cr | 15 Cr | 56 Cr | -13 Cr | -187 Cr | -137 Cr | 141 Cr | 182 Cr | 243 Cr | 288 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | — | ₹0.18 | ₹0.67 | ₹-0.12 | ₹-1.61 | ₹-1.11 | ₹1.45 | ₹1.88 | ₹2.48 | ₹2.87 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 781 Cr | 786 Cr | 789 Cr | 790 Cr | 790 Cr | 791 Cr | 792 Cr | 792 Cr | 792 Cr | 792 Cr |
| Reserves | 27 Cr | 28 Cr | 86 Cr | 33 Cr | 127 Cr | 40 Cr | 62 Cr | 175 Cr | 372 Cr | 600 Cr |
| Borrowings | 758 Cr | 967 Cr | 1,136 Cr | 1,510 Cr | 1,573 Cr | 2,128 Cr | 2,177 Cr | 1,894 Cr | 2,148 Cr | 2,004 Cr |
| Other liabilities | 217 Cr | 248 Cr | 329 Cr | 708 Cr | 707 Cr | 108 Cr | 142 Cr | 593 Cr | 145 Cr | 202 Cr |
| Total liabilities | 2,212 Cr | 2,458 Cr | 2,772 Cr | 3,763 Cr | 3,815 Cr | 3,635 Cr | 3,732 Cr | 4,033 Cr | 4,082 Cr | 4,285 Cr |
| Fixed assets (net) | 1,407 Cr | 1,449 Cr | 1,589 Cr | 2,990 Cr | 3,077 Cr | 2,939 Cr | 2,854 Cr | 3,505 Cr | 3,428 Cr | 3,426 Cr |
| CWIP | 349 Cr | 556 Cr | 664 Cr | 190 Cr | 242 Cr | 295 Cr | 469 Cr | 25 Cr | 45 Cr | 108 Cr |
| Investments | 6 Cr | 15 Cr | 37 Cr | 16 Cr | 8 Cr | 11 Cr | 7 Cr | 15 Cr | 46 Cr | 74 Cr |
| Inventories | 5 Cr | 5 Cr | 6 Cr | 8 Cr | 7 Cr | 8 Cr | 11 Cr | 14 Cr | 14 Cr | 14 Cr |
| Trade receivables | 31 Cr | 53 Cr | 84 Cr | 50 Cr | 31 Cr | 29 Cr | 56 Cr | 71 Cr | 79 Cr | 116 Cr |
| Cash & bank | 18 Cr | 21 Cr | 31 Cr | 41 Cr | 127 Cr | 54 Cr | 24 Cr | 34 Cr | 55 Cr | 58 Cr |
| Other assets | 395 Cr | 360 Cr | 359 Cr | 467 Cr | 323 Cr | 298 Cr | 312 Cr | 369 Cr | 415 Cr | 489 Cr |
| Total assets | 2,212 Cr | 2,458 Cr | 2,772 Cr | 3,763 Cr | 3,815 Cr | 3,635 Cr | 3,732 Cr | 4,033 Cr | 4,082 Cr | 4,285 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 132 Cr | 115 Cr | 187 Cr | 148 Cr | 41 Cr | 135 Cr | 385 Cr | 465 Cr | 542 Cr | 542 Cr |
| Cash from investing | -229 Cr | -260 Cr | -289 Cr | -606 Cr | -66 Cr | -45 Cr | -283 Cr | -397 Cr | -127 Cr | -169 Cr |
| Cash from financing | 100 Cr | 149 Cr | 113 Cr | 457 Cr | 111 Cr | -163 Cr | -132 Cr | -59 Cr | -392 Cr | -370 Cr |
| Net cash flow | 4 Cr | 3 Cr | 10 Cr | -0.56 Cr | 87 Cr | -73 Cr | -31 Cr | 10 Cr | 22 Cr | 3 Cr |
| Free cash flow (OCF − Capex) | -102 Cr | -129 Cr | -94 Cr | -496 Cr | -29 Cr | 68 Cr | 223 Cr | 134 Cr | 446 Cr | 403 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 3.8% | 4.2% | 5.1% | 5.1% | -1.2% | 0.8% | 9.9% | 12.1% | 12.6% | 12.9% |
| ROE % | -0.7% | 1.2% | 4.0% | -0.6% | -8.3% | -6.3% | 8.1% | 9.6% | 11.0% | 10.9% |
| Debtor days | 28 | 39 | 56 | 27 | 45 | 26 | 23 | 24 | 22 | 29 |
| Inventory days | 51 | 45 | 44 | 53 | 147 | 106 | 77 | 80 | 66 | 59 |
| Days payable | 623 | 678 | 700 | 269 | 1607 | 765 | 487 | 499 | 294 | 288 |
| Cash conversion cycle | -544 | -593 | -600 | -189 | -1415 | -632 | -387 | -395 | -206 | -199 |
| OCF / EBITDA % | 110.5% | 84.1% | 110.6% | 62.2% | 66.9% | 114.0% | 86.0% | 88.9% | 85.4% | 78.4% |
| OCF / EBITDA % (3 years) | — | — | 102.1% | 82.7% | 80.3% | 77.6% | 89.4% | 90.4% | 86.7% | 83.8% |
| Debt / equity | 0.94 | 1.19 | 1.30 | 1.84 | 1.71 | 2.56 | 2.55 | 1.96 | 1.85 | 1.44 |
| Current ratio | — | 0.55 | 0.67 | 0.53 | 0.78 | 0.52 | 0.37 | 0.57 | 0.85 | 1.21 |
| Net debt / EBITDA | 6.18 | — | 6.54 | 6.17 | 23.59 | 17.48 | 4.81 | 3.55 | 3.30 | 2.81 |