Wellness industry

2 companies · ₹559 cr · Q2FY27 report

Exhibit 3Structure

₹559 cr

Kaya Ltd is 76.2% of this industry by market cap. The top 5 are 100% and the top 10 are 100%.

micro 20 above ₹500 cr

Exhibit 5Coverage (2 of 2)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Kaya Ltd	₹425 cr	-	-35.7x	-97.3%	-10.7%	+13.9%	Unlock
Lloyds Luxuries Ltd	₹140 cr	-	-4.5x	-5.7%	1.6%	+36.4%	Unlock

Kaya Ltd

Mcap: ₹425 cr
P/E: -
EV/EBITDA: -35.7x
ROCE: -97.3%
Margin: -10.7%
Rev YoY: +13.9%

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Lloyds Luxuries Ltd

Mcap: ₹140 cr
P/E: -
EV/EBITDA: -4.5x
ROCE: -5.7%

Exhibit 6What managements said

from Leisure Services earnings calls · as of 2026-09-30

headwindWest Asia conflict suppresses inbound, long-haul and GCC-exposed travel10 managements

This was the most widely cited issue, raised by INDHOTEL, ITCHOTELS, EIHOTEL, CHALET, THELEELA, TBOTEK, TRAVELFOOD, THOMASCOOK, VENTIVE and SAMHI. Specific impacts: foreign…

EIHOTEL (Q1FY27): “we got impacted by the Iran-US war, mainly because of foreign tourists... international…”

tailwind6 managements mixed7 managements

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 0 companies

1-0

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