Leisure Services industry
124 companies · ₹2051.7 L cr · 25 with AI deep dives
5y revenue CAGR
median 31.23%(p25 20.09% · p75 42.43%)
5y avg ROCE
median 8.64%(p25 3.61% · p75 15.87%)
Debt / equity
median 0.25x(p25 0.07x · p75 0.62x)
AI sector brief
from the bucket's latest earnings calls · as of 2026-06-30headwindWest Asia conflict truncated Q4 demand across hotels, travel, and QSR simultaneously13 managements
The Middle East conflict from early March 2026 hit every sub-sector simultaneously. Hotels reported FTA cancellations (CHALET ~9,000 room nights in March; THELEELA international…
- CHALET (Q4FY26): “we lost almost 9,000 room nights from foreign tourist arrivals and some attached…”
mixed8 managements🔒headwind6 managements🔒headwind4 managements🔒mixed5 managements🔒tailwind8 managements🔒headwind5 managements🔒headwind2 managements🔒
7 more themes from this quarter's earnings calls are locked. A free account opens the full brief: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →
| Company | Mcap | AI verdict | Signals | Stated KPIs (latest call) |
|---|---|---|---|---|
| Polo Hotels Ltd | ₹2047.2 L cr | Unlock | latent operating leveragecapex coming onlinelevering upcapex ahead of revenue | |
| Indian Hotels Co Ltd | ₹1.0 L cr | Fairly valued quality compounder; 17 consecutive record quarters, peak-season FTA recovery the gating risk | earnings quality strongnet cash | Consolidated RevPAR (Domestic LFL) ₹8,400/nightConsolidated TRevPAR ₹15,800/nightStandalone Occupancy (Domestic Hotels) 82% |
| Indian Railway Catering & Tourism Corporation Ltd | ₹38,868 cr | Unlock | roce compounderroce compounder consumerconsumer steady payer | |
| ITC Hotels Ltd | ₹33,536 cr | Unlock | earnings quality strongnet cash | |
| Jubilant Foodworks Ltd | ₹28,439 cr | Unlock | earnings quality stronglevering up | |
| EIH Ltd | ₹20,512 cr | Unlock | earnings quality strong | |
| Chalet Hotels Ltd | ₹18,489 cr | Unlock | earnings quality strongdeleveraging | |
| Travel Food Services Ltd | ₹16,900 cr | Unlock | roce compounderroce compounder consumer | |
| TBO Tek Ltd | ₹16,449 cr | Unlock | earnings quality weak | |
| Leela Palaces Hotels & Resorts Ltd | ₹15,880 cr | Unlock | earnings quality strong | |
| Ventive Hospitality Ltd | ₹14,484 cr | Unlock | capex coming onlineearnings quality strong | |
| Devyani International Ltd | ₹14,056 cr | Unlock | earnings quality stronglevering up | |
| BLS International Services Ltd | ₹9,717 cr | Unlock | latent operating leverageroce compounderearnings quality strongnet cash | |
| Lemon Tree Hotels Ltd | ₹8,735 cr | Unlock | earnings quality strongdeleveraging | |
| Le Travenues Technology Ltd | ₹8,401 cr | Unlock | earnings quality strongnet cash | |
| Westlife Foodworld Ltd | ₹7,298 cr | Unlock | earnings quality strong | |
| India Tourism Development Corporation Ltd | ₹6,194 cr | Unlock | roce compoundernet cash | |
| Valor Estate Ltd | ₹6,178 cr | Unlock | earnings quality strong | |
| Sapphire Foods India Ltd | ₹5,881 cr | Unlock | earnings quality strongnet cash | |
| Waterways Leisure Tourism Ltd | ₹5,799 cr | Unlock | ||
| Restaurant Brands Asia Ltd | ₹4,738 cr | Unlock | ||
| Thomas Cook (India) Ltd | ₹4,619 cr | Unlock | earnings quality strong | |
| Mahindra Holidays & Resorts India Ltd | ₹4,414 cr | Unlock | earnings quality strongdeleveraging | |
| Juniper Hotels Ltd | ₹4,354 cr | Unlock | earnings quality strong | |
| Samhi Hotels Ltd | ₹3,932 cr | Unlock | earnings quality strongdeleveraging | |
| Wonderla Holidays Ltd | ₹2,925 cr | Unlock | latent operating leverageearnings quality strongnet cash | |
| United Foodbrands Ltd | ₹2,736 cr | Unlock | ||
| Easy Trip Planners Ltd | ₹2,634 cr | Unlock | latent operating leveragenet cash | |
| Imagicaaworld Entertainment Ltd | ₹2,592 cr | Unlock | ||
| Apeejay Surrendra Park Hotels Ltd | ₹2,572 cr | Unlock | earnings quality strong | |
| Oriental Hotels Ltd | ₹2,465 cr | Unlock | earnings quality strong | |
| TajGVK Hotels & Resorts Ltd | ₹2,249 cr | Unlock | latent operating leveragecapex coming onlinenet cash | |
| Brigade Hotel Ventures Ltd | ₹2,249 cr | Unlock | earnings quality strong | |
| EIH Associated Hotels Ltd | ₹1,884 cr | Unlock | earnings quality strong | |
| Yatra Online Ltd | ₹1,679 cr | Unlock | net cash | |
| Delta Corp Ltd | ₹1,675 cr | Unlock | capex coming onlinecapex ahead of revenuecyclical peak base | |
| Spice Lounge Food Works Ltd | ₹1,610 cr | Unlock | ||
| Asian Hotels (North) Ltd | ₹1,343 cr | Unlock | capital destroyer | |
| Benares Hotels Ltd | ₹1,329 cr | Unlock | earnings quality strong | |
| Mac Charles (India) Ltd | ₹924 cr | Unlock | ||
| Viceroy Hotels Ltd | ₹890 cr | Unlock | deleveraging | |
| Royal Orchid Hotels Ltd | ₹880 cr | Unlock | earnings quality strongdeleveraging | |
| Advent Hotels International Ltd | ₹815 cr | Unlock | earnings quality strong | |
| Up Hotels Ltd | ₹756 cr | Unlock | earnings quality strongnet cash | |
| Praveg Ltd | ₹747 cr | Unlock | latent operating leveragecapex coming onlineearnings quality strong | |
| Coffee Day Enterprises Ltd | ₹636 cr | Unlock | ||
| Speciality Restaurants Ltd | ₹631 cr | Unlock | earnings quality strong | |
| Asian Hotels (West) Ltd | ₹594 cr | Unlock | earnings quality strong | |
| Sayaji Hotels Ltd | ₹499 cr | Unlock | earnings quality strongcyclical peak base | |
| Kamat Hotels (India) Ltd | ₹494 cr | Unlock | earnings quality strongdeleveraging | |
| Advani Hotels & Resorts (India) Ltd | ₹476 cr | Unlock | latent operating leverageearnings quality strongnet cashconsumer steady payer | |
| HLV Ltd | ₹475 cr | Unlock | earnings quality strongnet cash | |
| Kaya Ltd | ₹429 cr | Unlock | ||
| Sayaji Hotels (Indore) Ltd | ₹405 cr | Unlock | capex coming onlineearnings quality stronglevering up | |
| Sinclairs Hotels Ltd | ₹375 cr | Unlock | ||
| Nicco Parks & Resorts Ltd | ₹342 cr | Unlock | capex coming onlineearnings quality strongcapex ahead of revenuecyclical peak base | |
| Apollo Sindoori Hotels Ltd | ₹315 cr | Unlock | earnings quality strongdeleveraging | |
| Robust Hotels Ltd | ₹290 cr | Unlock | earnings quality strong | |
| Vegorama Punjabi Angithi Ltd | ₹287 cr | Unlock | roce compounderroce compounder consumerearnings quality weak | |
| Grand Continent Hotels Ltd | ₹283 cr | Unlock | earnings quality weak | |
| Emerald Leisures Ltd | ₹270 cr | Unlock | ||
| Suba Hotels Ltd | ₹260 cr | Unlock | earnings quality weak | |
| International Travel House Ltd | ₹252 cr | Unlock | earnings quality strong | |
| Sayaji Hotels (Pune) Ltd | ₹250 cr | Unlock | roce compounderroce compounder consumerearnings quality weaknet cash | |
| Espire Hospitality Ltd | ₹245 cr | Unlock | capex coming onlineearnings quality weakdeleveraging | |
| Asian Hotels (East) Ltd | ₹243 cr | Unlock | capex coming onlinelevering up | |
| Graviss Hospitality Ltd | ₹214 cr | Unlock | earnings quality strongnet cashcyclical peak base | |
| Country Club Hospitality & Holidays Ltd | ₹212 cr | Unlock | net cash | |
| Savera Industries Ltd | ₹195 cr | Unlock | earnings quality strongnet cash | |
| DU Digital Global Ltd | ₹187 cr | Unlock | capex coming onlinenet cash | |
| Gourmet Gateway India Ltd | ₹181 cr | Unlock | earnings quality strong | |
| Trade Wings Ltd | ₹178 cr | Unlock | earnings quality strong | |
| Hbg Hotels Ltd | ₹177 cr | Unlock | capex coming onlinedeleveraging | |
| The Byke Hospitality Ltd | ₹170 cr | Unlock | earnings quality strongnet cashcyclical peak base | |
| Lloyds Luxuries Ltd | ₹169 cr | Unlock | ||
| Chl Ltd | ₹148 cr | Unlock | latent operating leverage | |
| Eco Hotels & Resorts Ltd | ₹79 cr | Unlock | ||
| Jungle Camps India Ltd | ₹72 cr | Unlock | earnings quality strongnet cash | |
| Gujarat Hotels Ltd | ₹72 cr | Unlock | earnings quality weak | |
| Vikram Kamats Hospitality Ltd | ₹69 cr | Unlock | latent operating leveragecapex coming online | |
| Grill Splendour Services Ltd | ₹61 cr | Unlock | ||
| Royale Manor Hotels & Industries Lt | ₹59 cr | Unlock | earnings quality strong | |
| Saj Hotels Ltd | ₹57 cr | Unlock | ||
| Mac Hotels Ltd | ₹54 cr | Unlock | latent operating leveragedeleveragingcyclical peak base | |
| TSC India Ltd | ₹51 cr | Unlock | earnings quality weak | |
| Roopshri Resorts Ltd | ₹49 cr | Unlock | latent operating leverageearnings quality strongnet cash | |
| Blue Coast Hotels Ltd | ₹46 cr | Unlock | ||
| Jindal Hotels Ltd | ₹44 cr | Unlock | earnings quality strongdeleveraging | |
| Lgt Business Connextions Ltd | ₹41 cr | Unlock | roce compounderearnings quality weak | |
| Helloji Holidays Ltd | ₹38 cr | Unlock | earnings quality weaknet cash | |
| Pecos Hotels & Pubs Ltd | ₹33 cr | Unlock | latent operating leverageearnings quality strong | |
| Kaushalya Infrastructure Development Corpn Ltd | ₹32 cr | Unlock | capital destroyer | |
| Yaan Enterprises Ltd | ₹31 cr | Unlock | earnings quality weaklevering up | |
| TGB Banquets & Hotels Ltd | ₹29 cr | Unlock | net cash | |
| Best Eastern Hotels Ltd | ₹28 cr | Unlock | levering upcyclical peak base | |
| Reliable Ventures India Ltd | ₹27 cr | Unlock | net cash | |
| Ajwa Fun World & Resorts Ltd | ₹26 cr | Unlock | net cash | |
| Aruna Hotels Ltd | ₹26 cr | Unlock | ||
| Naturewings Holidays Ltd | ₹25 cr | Unlock | earnings quality weaknet cash | |
| Valencia India Ltd | ₹23 cr | Unlock | capex coming online |