HLV Ltd, incorporated in 1981, is a Mumbai-based hospitality company engaged in owning, operating, and managing hotels, palaces, and resorts. The company underwent a name change from Hotel Leela Venture Limited to HLV Limited on October 22, 2019, reflecting its streamlined business focus.
The company primarily operates "The Leela Mumbai," which is positioned as Mumbai's only resort-style business hotel with 394 guest rooms. Historically, HLV was one of the most prominent hotel and restaurant chains in the country, but due to debt obligations, the company had to sell off the majority of its hotels in FY 2019-20, currently retaining only The Leela Mumbai under its ownership and management.
HLV operates in both leisure and business sectors, with The Leela palaces and resorts representing a chain of five-star luxury hotels and resorts. The Leela Mumbai is spread over an area of 11 acres and has 396 rooms. The company's properties are strategically located in prime urban cities including Mumbai, with historical presence in Bengaluru, Chennai, Delhi, Gurugram, and New Delhi, as well as holiday destinations like Goa, Kovalam, and Udaipur.
The company maintains an international sales and marketing alliance with the Preferred Hotels & Resorts group to promote its products to global procurement heads in multinational corporations and travel companies. HLV has previously partnered with Penta Hotels in 1985 and Four Seasons Hotel Canada in 1995, along with alliances with Global Hotel Alliance and Preferred Hotel to establish a global presence.
HLV Ltd reported revenue of Rs 203 crore and profit of Rs 26.1 crore, though the company is not currently paying dividends despite reporting consistent profits. For the quarter ended March 2025, the company's standalone net sales decreased by 0.8% year-on-year to Rs 59.26 crore, while quarterly net profit rose by 3.77% to Rs 10.74 crore, and EBITDA increased by 17% to Rs 17.07 crore.
In the quarter ended September 2024, net profit rose significantly by 72.77% to Rs 3.49 crore compared to Rs 2.02 crore in September 2023, while sales increased by 4.83% to Rs 43.37 crore. The company's EBITDA stands at Rs 280.90 million with a current EBITDA margin of 13.82%.
• Q4 FY2024-25 Performance: Net Sales of Rs 59.26 crore, Net Profit of Rs 10.74 crore, EBITDA of Rs 17.07 crore
• Q2 FY2024-25 Performance: Net Sales of Rs 43.37 crore, Net Profit of Rs 3.49 crore
• FY2023-24 Performance (Annual): Revenue of Rs 203 crore, Profit of Rs 26.1 crore
• Market Capitalization: Rs 885 crore (as of recent data)
• P/E Ratio: 34.41
• P/B Ratio: 2.03
• Return on Equity (last 3 years): 4.34%
• Promoter Holding: 39.07% (as of March 2025)
• Debt Status: Almost debt-free
HLV Ltd is classified as a Small Cap company and belongs to the Consumer Discretionary sector under the Hotels, Resorts & Cruise Lines sub-sector. The stock has experienced significant declines with returns of -19.74% over the last six months and -52.21% over the last year.
The stock's 52-week high stands at Rs 26.09 and 52-week low at Rs 10.86. Search interest for HLV Ltd stock has increased by 85% in the last 30 days, reflecting growing investor attention.
The company's management structure includes Vivek Nair as chairman and Savitri Yadav as the company secretary. Promoter holding has decreased from 45.36% in June 2024 to 39.07% as of March 2025, indicating some change in ownership structure. Promoters have pledged or encumbered 36.5% of their holding. The company's auditor is N S Shetty & Co.
The company has ongoing legal matters, including a Bombay High Court case allowing eviction to proceed, with arbitration to decide a Rs 119.5 crore lease dispute with Airports Authority of India (AAI). HLV Limited submitted its Annual Secretarial Compliance Report for FY 2024-25 with minor non-compliance noted.
The company has contingent liabilities of Rs 986 crore, which investors should consider when evaluating the stock.
HLV Ltd represents a focused play in the Indian hospitality sector, having streamlined its operations to concentrate on The Leela Mumbai property while maintaining its position in the premium hotel segment. The company's financial performance shows gradual improvement, though it faces challenges typical of the hospitality industry and carries significant contingent liabilities that warrant careful consideration by potential investors.
