Apollo Sindoori Hotels financials and balance sheet

NSE: APOLSINHOTLeisure ServicesSmall Cap

₹1,061.30₹30.10 (2.76%)

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,091.40.

52-week range of traded prices to 23 Oct 2026

₹950.00Low, 27 Mar 2026₹1,440.00High, 15 Jul 2026

Market cap: ₹276 Cr2,109th largest listed
P/E: 33.2
P/E without one-offs: 29.2
P/B: 1.8
Dividend yield: 0.28%
ROE: 5.5%
ROE without one-offs: 6.2%
ROCE: 7.2%
Debt to equity: 0.45
Volume, NSE: 29279.8% delivered

7 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Apollo Sindoori Hotels annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹632 Cr, year to Mar 2026

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue632
Materials and goods−165
Employee costs−384
Other expenses−54
Operating profit29
Depreciation−13
Other income+10.0
One-off items−3.0
Finance costs−7.7
Profit before tax15
Tax−5.0
Net profit11

What the company owns

Plant, investments and other assets₹157 Cr
Receivables₹112 Cr
Cash and bank₹112 Cr
Inventory₹4 Cr

What pays for it: net worth and liabilities

Net worth₹157 Cr
Other liabilities₹117 Cr
Borrowings₹70 Cr
Owed to suppliers₹41 Cr

Apollo Sindoori Hotels business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Apollo Sindoori Hotels segment results by quarter

Revenue by segment

₹671 CrTotal

Food & Beverages₹310 Cr46.2% of total
House Keeping & Facility Management₹265 Cr39.5% of total
Management Services₹86 Cr12.9% of total
Others₹10 Cr1.5% of total

Profit by segment

Food & Beverages₹11.4 Cr42.2% of total
House Keeping & Facility Management₹1.0 Cr3.9% of total
Management Services₹6.0 Cr22.4% of total
Others₹8.5 Cr31.5% of total

Segment results by year

Consolidated from the year to Mar 2020, standalone before, ₹ crore, years to March.

Food & Beverages
Revenue, ₹ crore
79
132
113
142
218
246
267
310
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
6
10
2
4
6
10
5
11
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
House Keeping & Facility Management
Revenue, ₹ crore
81
222
227
265
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
10
12
10
1
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Management Services
Revenue, ₹ crore
60
61
54
64
67
68
73
86
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
5
4
3
8
4
4
4
6
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
1
1
1
1
1
18
10
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
−3
0
0
11
8
9
Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	140	–	193	168	208	367	536	584	671
Company revenue, as in its results	140	–	193	168	208	367	519	542	632
Revenue	79	–	132	113	142	218	246	267	310
Revenue growth	–	–	–	−14.2%	25.6%	53.1%	13.0%	8.3%	16.0%
Profit	6	–	10	2	4	6	10	5	11
Profit growth	–	–	–	−80.0%	121.7%	46.8%	52.7%	−44.4%	113.9%
Margin	7.2%	–	7.3%	1.7%	3.0%	2.9%	3.9%	2.0%	3.7%
Return on capital	–	–	–	–	–	19.3%	16.2%	14.7%	26.7%
Assets	27	–	65	64	67	75	81	90	120
Liabilities	36	–	76	66	76	42	22	53	77
Capital employed	−9	–	−11	−3	−9	33	59	36	43
Revenue	–	–	–	–	–	81	222	227	265
Revenue growth	–	–	–	–	–	–	174.3%	2.4%	16.7%
Profit	–	–	–	–	–	10	12	10	1
Profit growth	–	–	–	–	–	–	24.7%	−18.7%	−89.5%
Margin	–	–	–	–	–	12.1%	5.5%	4.4%	0.4%
Return on capital	–	–	–	–	–	–	–	1,351.3%	–
Assets	–	–	–	–	–	179	190	185	208
Liabilities	–	–	–	–	–	179	190	184	208
Capital employed	–	–	–	–	–	0	0	1	0
Revenue	60	–	61	54	64	67	68	73	86
Revenue growth	–	–	–	−10.7%	18.9%	3.9%	–	6.6%	18.5%
Profit	5	–	4	3	8	4	4	4	6
Profit growth	–	–	–	−32.2%	162.6%	−49.0%	–	−5.4%	44.3%
Margin	8.0%	–	7.3%	5.5%	12.2%	6.0%	6.5%	5.8%	7.0%
Return on capital	1,796.1%	–	–	–	–	157.9%	23.5%	27.7%	32.6%
Assets	17	–	15	14	17	13	23	18	20
Liabilities	17	–	25	31	33	10	4	3	2
Capital employed	0	–	−10	−18	−15	3	19	15	19
Revenue	1	–	1	1	1	1	–	18	10
Revenue growth	–	–	–	–	–	–	–	–	−43.3%
Profit	0	–	−3	0	0	11	–	8	9
Profit growth	–	–	–	–	–	–	–	–	3.0%
Margin	9.9%	–	−350.8%	21.9%	12.8%	751.8%	–	46.3%	84.1%
Return on capital	–	–	−7.0%	–	–	–	–	–	–
Assets	0	–	41	1	1	1	–	23	37
Liabilities	0	–	4	4	4	4	–	75	98
Capital employed	0	–	37	−3	−3	−3	–	−52	−61
	0	–	0	0	0	–	–	–	–
Profit	0	–	9	8	8	–	–	–	–
Assets	0	–	4	49	52	–	–	–	–
Liabilities	0	–	41	49	52	–	–	–	–
Capital employed	0	–	−37	0	0	–	–	–	–
Revenue	–	–	–	–	–	–	18	–	–
Profit	–	–	–	–	–	–	7	–	–
Assets	–	–	–	–	–	–	2	–	–
Liabilities	–	–	–	–	–	–	3	–	–
	–	–	0	–	0	–	–	–	–
Profit	–	–	0	–	0	–	–	–	–
Assets	–	–	22	–	29	–	–	–	–
Liabilities	–	–	2	–	2	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Apollo Sindoori Hotels quarterly results

₹ crore	Mar 2020Filed 10 Jul	Mar 2021Filed 30 Jun	Mar 2022Filed 28 May	Mar 2023Filed 19 May	Mar 2024Filed 28 May	Mar 2025Filed 15 May	Mar 2026Filed 27 May
Revenue from operations	193	168	208	367	519	542	632
	185	164	196	351	495	523	603
Materials and goods bought	74	58	79	139	141	148	165
Employee costs	97	91	102	178	309	328	384
Other expenses	15	14	15	33	45	47	54
Operating profit before depreciation	8	4	12	16	24	19	29
Operating margin	4.2%	2.6%	5.6%	4.5%	4.7%	3.5%	4.7%
Materials, % of revenue	38.1%	34.7%	38.0%	38.0%	27.1%	27.3%	26.1%
Employee costs, % of revenue	50.2%	54.2%	49.3%	48.5%	59.5%	60.6%	60.7%
Other expenses, % of revenue	7.5%	8.5%	7.1%	9.1%	8.7%	8.7%	8.6%
Depreciation and amortisation	3	5	5	6	8	9	13
Operating profit after depreciation	5	0	7	10	16	9	16
Other income	5	4	3	9	11	10	10
Finance costs	1	2	2	6	8	8	8
Profit before one-off items and tax	9	2	7	14	19	12	18
One-off items	0	0	0	9	0	0	−3
Profit before tax	9	2	7	23	19	12	15
	3	1	3	8	8	4	5
Current tax	4	2	2	8	8	6	8
Deferred tax	0	0	0	0	0	−2	−3
Share of profit of joint ventures and associates	10	9	10	2	–	–	–
Net profit	15	10	15	17	11	8	11
Other comprehensive income	−1	0	0	1	4	4	1
Total comprehensive income	14	9	15	18	15	12	12
Net margin	7.9%	5.7%	7.1%	4.6%	2.1%	1.4%	1.7%
Net margin without joint ventures and associates	2.9%	0.3%	2.1%	4.0%	–	–	–

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2023Filed 19 May	Mar 2024Filed 28 May	Mar 2025Filed 15 May	Mar 2026Filed 27 May
	120	135	146	157
Share capital	1	1	1	1
Reserves	119	134	145	156
	105	64	48	70
Repayable after a year	48	2	2	15
Repayable within a year	57	63	46	55
	131	142	119	172
Trade payables	36	22	25	41
Other financial liabilities	21	34	28	41
Other liabilities	13	19	19	28
Provisions	5	5	3	6
	88	39	50	56
Other financial liabilities	20	0	30	18
Other liabilities	0	20	0	–
Provisions	19	17	18	24
Deferred tax	0	1	0	0
Total assets	339	316	316	385
	85	86	105	124
Plant in use, after depreciation	20	23	27	58
Plant being built	0	0	0	2
Intangible assets	19	0	29	19
Goodwill	10	10	10	10
Intangible assets being developed	0	0	0	0
Investments	12	14	14	15
Loans given	10	7	4	5
Other financial assets	0	19	4	4
Deferred tax	9	8	8	11
Other assets	5	5	7	0
	254	230	211	261
Inventories	4	3	3	4
Trade receivables	84	92	85	112
Cash and cash equivalents	70	40	30	29
Other bank balances	81	72	70	83
Loans given	4	3	3	7
Other financial assets	5	7	8	8
Tax paid in advance	3	4	7	10
Other assets	4	9	6	8
Net debt	−46	−47	−51	−41

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2020, Mar 2021 and Mar 2022, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 30 Jun	Mar 2022Filed 28 May	Mar 2023Filed 19 May	Mar 2024Filed 28 May	Mar 2025Filed 15 May	Mar 2026Filed 27 May
	16.9	22.6	3.5	14.1	21.3	40.1
	17.9	25.1	17.5	29.4	31.8	46.7
	1.8	0.6	−4.4	−4.8	5.5	12.9
Receivables	2.4	−0.3	−47.1	−7.8	7.0	−28.4
Inventories	0.7	−0.5	−1.5	0.7	0.1	0.8
Payables	−4.3	1.2	18.1	−14.1	2.8	16.9
Other working capital	3.0	0.2	26.1	16.3	−4.4	23.6
Tax paid	−1.0	−2.5	−18.8	−9.5	−10.5	−4.7
Interest paid	0.0	0.0	5.8	0.0	0.0	−7.7
Capital spending	3.3	3.8	12.7	8.9	12.6	44.5
Free cash flow	13.6	18.8	−9.2	5.2	8.7	−4.4
	−11.6	−15.7	−49.7	5.8	−3.4	−51.7
Plant and property sold	−2.2	0.9	0.4	0.5	0.0	0.0
Interest received	−0.5	0.4	0.0	6.3	6.0	5.8
	−2.9	−3.6	42.5	−59.5	−12.2	3.2
Borrowings raised	0.0	0.0	48.8	0.0	1.4	15.0
Borrowings repaid	−0.5	−0.8	0.0	−49.6	−2.1	−0.4
Interest paid	−1.9	−2.4	−5.8	−5.2	−5.3	−5.6
Lease payments	0.0	0.0	0.0	−4.2	0.0	−5.2
Dividends paid	0.5	0.3	0.5	0.4	0.7	0.5
Shares bought back	0.0	0.0	0.0	0.0	0.0	0.0
Shares issued	0.0	0.0	0.0	0.0	0.0	0.0
Net change in cash	2.4	3.4	−3.6	−39.5	5.8	−8.3

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the year to Mar 2020.

Consolidated, ₹ per share, years to March.Apollo Sindoori Hotels dividend history

₹ per share	Mar 2020Filed 10 Jul	Mar 2021Filed 30 Jun	Mar 2022Filed 28 May	Mar 2023Filed 19 May	Mar 2024Filed 28 May	Mar 2025Filed 15 May	Mar 2026Filed 27 May
Earnings per share	₹58.90	₹36.79	₹56.94	₹65.05	₹42.57	₹29.71	₹40.39
Diluted earnings per share	₹58.90	₹36.79	₹56.94	₹65.05	₹42.57	₹29.71	₹40.39
Dividend per share	₹2.00	₹1.25	₹1.50	₹1.50	₹2.00	₹2.50	₹3.00
Book value per share	–	–	–	₹461.56	₹519.53	₹561.49	₹604.05
Dividend payout	3.4%	3.4%	2.6%	2.3%	4.7%	8.4%	7.4%
Shareholder yield	–	0.4%	0.2%	0.2%	0.1%	0.2%	0.2%
Market cap at the year end (₹ crore)	102	148	213	274	433	312	248

Ratios

Consolidated, years to March.Apollo Sindoori Hotels PE ratio and valuation

Ratio	Mar 2020Filed 10 Jul	Mar 2021Filed 30 Jun	Mar 2022Filed 28 May	Mar 2023Filed 19 May	Mar 2024Filed 28 May	Mar 2025Filed 15 May	Mar 2026Filed 27 May
Revenue growth	–	−13.0%	23.5%	76.5%	41.5%	4.3%	16.7%
Operating profit growth	–	−46.0%	165.4%	40.9%	47.5%	−22.6%	57.6%
Net profit growth	–	−37.5%	54.8%	14.2%	−34.6%	−30.2%	36.0%
Earnings per share growth	–	−37.5%	54.8%	14.2%	−34.6%	−30.2%	35.9%
	–	–	–	14.1%	8.7%	5.5%	6.9%
	–	–	–	–	−5.4 pts	−3.2 pts	1.4 pts
From the net margin	–	–	–	–	−7.6 pts	−2.9 pts	0.9 pts
From asset turnover	–	–	–	–	3.0 pts	0.5 pts	0.3 pts
From borrowing	–	–	–	–	−0.9 pts	−0.8 pts	0.2 pts
Return on capital employed	–	–	–	4.7%	8.2%	4.8%	7.1%
Cash conversion	–	176.6%	152.8%	20.8%	127.6%	276.2%	381.9%
Interest cover	3.6	–	2.8	1.8	2.1	1.2	2.1
Debt to equity	–	–	–	0.87	0.48	0.33	0.45
Receivable days	–	–	–	83	64	57	65
Inventory days	–	–	–	10	8	8	9
Payable days	–	–	–	94	57	61	91
Cash conversion cycle, days	–	–	–	−1	16	4	−18
Working capital days	–	–	–	29	27	26	19
Asset turnover	–	–	–	1.08	1.59	1.72	1.80
Assets per rupee of net worth	–	–	–	2.83	2.57	2.25	2.31
Sales per rupee of plant	–	–	–	18.21	22.53	19.80	10.90
Capital spending to depreciation	–	0.71	0.78	2.15	1.15	1.35	3.34
Plant being built, % of plant in use	–	–	–	0.0%	0.0%	1.0%	3.6%

Interest cover is left blank for the year to Mar 2021: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2020, Mar 2021 and Mar 2022, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 3.0%
Cash from operations against operating profit: 136.0%

Measure	5 years	3 years
Revenue growth, yearly rate	30.3%	19.9%
Profit growth, yearly rate	1.9%	−14.7%
Return on equity, average	8.8%	7.0%
Return on capital employed, average	6.2%	6.7%
Operating margin, average	4.6%	4.3%
Net margin, average	3.4%	1.7%
Asset turnover, average	1.55	1.70
Cash conversion cycle, days, average	0	1
Interest cover, average	2.0	1.8
Debt to equity, average	0.53	0.42

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	102	76	40
Cash from investing	−115	−49	−52
Cash from financing	−29	−68	3
Capital spending	83	66	45
Dividends paid	2	2	1
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	65	16	15
Borrowings repaid	53	52	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	–	6	7
Altman Z-scorePublished threshold 1.1	–	–	–	4.66	4.56	4.71	3.97
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.46	−2.58	−2.73
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−2.71	−3.23	6.30
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	1.04	0.94	1.09	2.58
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	–	−32.26	−11.99	16.07
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	–	−19.85	−6.95	13.41
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	–	1.65	0.02	0.93
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	0.00	0.02	0.05
Effective tax ratePublished threshold 17.16 per cent	36.45	77.07	39.34	35.14	42.19	36.01	32.13
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	4.39	−47.31	−7.64	−51.11	2.01

A threshold marked as ours has no published figure; it is the line we read the check against.