VHLTD
Viceroy Hotels Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
VHLTD
FY26 → FY30 · 4 years of guidance · ~3.7 years from today₹134 today
BEAR
₹85
-37%-12% a yr
7% a year · 23.8x exit
BASE
₹163
+22%+6% a yr
12.1% a year · 38.2x exit
BULL
₹265
+98%+20% a yr
16.4% a year · 53.3x exit
Where the market has priced it
11x50x today54x
- the guided figure reached earnings through a low-confidence bridge
- this company has too little filed history for a multiple band of its own, so the exit multiple is the median of 6 Hotels/Resorts/Cruise lines peers
- FY27 one quarter filed — the pace is shown, not judged: guided +20.0%, filed +77.0% across 1 quarter(s)
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹2.71 (screener) |
|---|---|
| Guided growth | 12.1% a year, said on the call of 01-Jun-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 23.82x / 38.23x / 53.27x, this company’s own p20 / median / p80 across 6 filed years |
| Filed-industry peers | median 38.23x across 6 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)4 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
generic growth 20%
Apart from that, particularly in the case of our Marriott and Courtyard, we expect growth of at least 20% to 22% from the refurbishment.
Call 01-Jun-2026 · bridge confidence low · transcript PDF
Pace against its own guidance
FY27
one quarter filed — the pace is shown, not judged
guided 20.0%
filed 77.0%
1 of 4 quarters