Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Suba Hotels Ltd. (SUBAHOTELS)
SME CapConsumer stocks · SME cap · NSE
Suba Hotels is India's 9th largest hotel chain with 101 operational hotels (4,612 keys) across 50+ cities, ~65% in Tier 2 & 3. It operates a diversified portfolio (upscale to economy) via capital-efficient models (owned, managed, leased, revenue-share, franchised), including an exclusive master franchise with Choice Hotels in India.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result01 Jun, 08:02 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
30Bearishfull bear SMA stack · SMA20 -9.6% / mo · MACD + · near 52W low · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 26
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SUBAHOTELSD candles · FIT view-25.3%Latest close ₹91.30 on 2026-10-19
Bar
-2.9%
RSI
43
MACD hist
0.77
52W pos
5%
2026-10-19O ₹94.00H ₹94.00L ₹91.00C ₹91.30Vol 25,200 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SUBAHOTELSNifty Consumer DurablesNifty 500
- SUBAHOTELS
- -17.0%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- -11.4 pp
Chart stats
19 Oct 2026- From 52W high
- -54.4%
- 52W range position
- 5%
- ATR (14)
- 3.9%
- Volume vs 20D
- 1.11x
- Avg traded value
- ₹0.2 Cr
- 20D price channel
- ₹86 - ₹96.2
₹200
₹86 - ₹200
₹3.5
Latest completed session
20-session average
30.8% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Good U-Score but weak results consistency: verify latest quarters.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · UNDERVALUED72
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bearish30
Price trend and sector-relative-strength timing.
Valuation
Legacy model+63.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹71 Cr | NDF | +61.4% |
| EBITDA | ₹17 Cr | NDF | +88.9% |
| Operating margin | 23.0% | NDF | +300 bps |
| PAT | ₹13 Cr | NDF | +160.0% |
| PAT margin | 18.3% | NDF | +695 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.20
- P/B
- 1.60
- EV/EBITDA
- 9.71
- Market Cap
- 220.00Cr
Profitability
- ROE
- 19.40%
- ROCE
- 16.90%
- ROA
- 8.18%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 48.23%
- EPS 5Y
- 81.71%
- Revenue 3Y
- 48.00%
- EPS 3Y
- 86.00%
Balance Sheet
- Debt/Equity
- 0.38
- Interest Coverage
- 12.50×
- Altman Z
- 3.45
- Book Value
- 57.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -57.00 Cr
- EPS TTM
- 7.43
Shareholding
- Promoter Hold
- 60.93%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 3%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 114+44.3% vs prev
Net Profit
₹ CrLatest: 18.0+20.0% vs prev
Return on Equity
%Latest: 13.0-59.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 43.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~10.6% over last month) — short-term momentum negative.
- RSI(14) at 43 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 54% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
9
RS percentile
Stage 4 Downtrend
1M return
-0.8%
3M return
-17.0%
6M return
-27.9%
1Y return
-47.4%
RS 1D
-1
RS 20D
-8
Sector rank
#9
Industry rank
#53
Stage evidence
- Price is 20.5% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.4%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
256 observations
19 Oct 2026Value 59.38-1.87%
RS vs Nifty 50059
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation22/30
Growth25/25
Quality13/20
Balance Sheet11/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-2
Raw sum
72
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
72/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 63.1%.
- Growth contributes 25/25 to the score.
- Valuation contributes 22/30 to the score.
Main drags
- Penalty bucket subtracts 2 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Quality is weaker at 13/20; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
12.2
PB
1.6
EV/EBITDA
9.7
ROE
19.4%
ROCE
16.9%
FCF Yield
—
Debt/Equity
0.4
MoS
+63.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
72
Previous: 72
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+63.1%
Previous: +63.1%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
72
72
72
72
72
70
70
70
70
70
70
72
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹97.62
+6.5% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹247.42
+63.1% MoS
PEG
0.15
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GRAVISSHO
Small
Graviss Hospitality Limited
Hospitality
match 155
36
54.2
1.6%
-62%
WATCHLIST
GCHOTELS
SME
Grand Continent Hotels Ltd.
Hospitality
match 155
41
22.8
11.0%
+36%
WATCHLIST
RHL
Small
Robust Hotels Limited
Hospitality
match 155
67
10.7
3.5%
+69%
UNDERVALUED
SAJHOTELS
SME
Saj Hotels Ltd.
Hospitality
match 155
54
15.8
2.4%
+51%
FAIR VALUE
AHLEAST
Small
Asian Hotels (East) Limited
Hospitality
match 155
30
20.6
-3.1%
+48%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-01T07:47:11.354Z
Management commentary snapshot
FY26 revenue grew 44.3% YoY to ₹11,435.28 lakhs, with PAT up 18.9% YoY to ₹1,801.28 lakhs. H2 FY26 revenue increased 43.22% YoY and PAT rose 7.94% YoY, demonstrating strong top-line expansion and sequential momentum.
Suba Hotels demonstrates robust financial growth and an aggressive, capital-efficient expansion strategy. The focus on Tier 2/3 cities, diverse operating models, and direct channel development positions it well to capitalize on India's domestic tourism tailwinds. Execution of the significant pipeline and direct booking conversion are key monitoring points.
Current business mix
Revenue by Customer Segment
Latest issuer-disclosed distribution across 5 reported categories.
Corporate/Business37.5%
Leisure/Tourism32.5%
MICE/Events17.5%
Weddings/Social7.5%
Religious Pilgrimage6.5%
Growth engines
Asset-Light Acquisitions
Scale via lease and revenue-share deals to expand footprint with low upfront capex.
Turnaround Expertise
Acquire underperforming hotels with weak product/brand/management and unlock latent potential.
Strategic Location & Metro Entry
Prioritise locations with existing demand and strong growth potential, including selective entry into Bengaluru.
Direct Channel Development
Target 67-82% direct bookings to reduce blended commission from 11-14% to 8-11%, improving revenue by 3-4%.
Capacity and execution
Hotels in Pipeline
32 hotels in pipeline (as of May 31, 2026)
Rooms Addition
1,759 rooms addition (FY26)
Tailwinds
Improved Connectivity
New/expanded airports, faster highways, and greater rail capacity increase accessibility to Tier-2/3 markets, boosting demand.
Government CAPEX & Corridor Demand
Large infrastructure projects and industrial/port development generate contractor, employee, and corporate travel.
Tier-2/3 Tourism & Policy Tailwinds
UDAN/regional airport growth, Smart Cities funding, and PPP initiatives channel more domestic tourists to smaller cities.
Domestic Market Dominance
~95% of tourism demand is domestic, ensuring sustained room nights across Tier-2/3 and leisure circuits.
Headwinds
OTA Pricing Pressure
Current blended commission is 11-14%, requiring strategic efforts to shift bookings to direct channels.
Risk radar
Pipeline Execution Risk
Successfully integrating 32 new hotels and 1,759 rooms into the asset-light model and achieving targeted ramp-up.
Competition in Tier 2/3 Markets
Increasing branded supply in Tier 2 & 3 markets (77% of branded signings in 2024) could intensify competition.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Full-year (FY26 vs FY25) provides a comprehensive view of annual performance and growth trajectory. Half-yearly (H2 FY26 vs H2 FY25 and H2 FY26 vs H1 FY25) highlights recent momentum and sequential improvement, crucial for a growing, potentially seasonal business.
Sector KPIs management disclosed
Operational Hotels
101 operational hotels (FY26)
Operational Keys
4,612 keys (FY26)
Revenue from Operations
₹11,435.28 lakhs (FY26)
EBITDA
₹2,681.79 lakhs (FY26)
Management forward view
Aspiration for Market Leadership
Management aspires to emerge as India’s largest hotel chain.
Prudent Capital Allocation
Use operational cash flows to reduce debt and fund targeted refurbishments and growth.
Direct Booking Target
Target 67-82% direct bookings to achieve 3-4% revenue improvement (₹15-20 Cr+ potential).
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Pipeline Execution | 32 hotels, 1,759 rooms in pipeline. | Commissioning timelines, utilization ramp-up, and integration success of new properties. |
| Direct Booking Share | 7% digital booking share, 34% OTA share. | Increase in direct bookings and reduction in blended commission rates. |
| ARR/RevPAR Growth | FY26 ARR ₹3,850, RevPAR ₹2,637. | Sustained growth in average room rates and revenue per available room, indicating pricing power. |
| Debt to Equity Ratio | 0.37x (FY26). | Continued prudent capital allocation and debt reduction in line with asset-light strategy. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 38th percentile within Consumer. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
3 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · Consumer: 38th pctile, median 66 · SME: 41st pctile, median 64
Evidence depth
Financial-only
3 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
66
acceptable · capital discipline
Results
45
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 60.9%.
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-57 Cr.
- ▸Only 1 years of positive FCF.
- ▸ROCE trend is -2.1%.
- ▸OPM spread across recent quarters is 16%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Suba Hotels Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Concall transcriptJan 2026
Jan 2026 · Transcript
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.