Check Before You Invest : HS India Ltd

Q: Which industry/sub-sector does HS India Ltd belong to?

HS India Ltd belongs to the Travel & Hospitality sector, operating specifically within the Hotel, Resort & Restaurants segment.

Q: Is HS India Ltd a good quality company?

HS India Ltd is a quality company, based on a multi-year financial track record. This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q: Is HS India Ltd undervalued or overvalued?

HS India Ltd appears Undervalued, as its key valuation ratios are lower than their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 14.97, Historic Median: 15.35. Price to Book, Current: 0.59, Historic Median: 0.64. Price to Sales, Current: 0.75, Historic Median: 0.83. EV to EBITDA, Current: 7.43, Historic Median: 7.84

Q: Is HS India Ltd a good buy now?

HS India Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Q: Revenue growth of HS India Ltd?

HS India Ltd revenue growth is 5.2% for FY-2025, which is above its 5-year CAGR of 0.77%, indicating faster growth.

Q: Gross Profit margin of HS India Ltd?

HS India Ltd Gross profit margin which is the profit after deduction of direct costs, is 10.4% for FY-2025, which is in line with its 5-year median of 10.4%, indicating stable margins.

Q: Operating Profit Margin of HS India Ltd?

HS India Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 14.83% for FY-2025, which is in line with its 5-year median of 14.83% indicating stable margins.

Q: Net Profit Margin of HS India Ltd?

HS India Ltd Net Profit Margin is 5.24% for FY-2025, is in line with its 5-year median of 5.2%, indicating stable margins. Profitability Metrics. Gross Profit Margin (%), Current: 10.4, Historic Median: 10.4. Operating Profit Margin (%), Current: 14.83, Historic Median: 14.83. Net Profit Margin (%), Current: 5.24, Historic Median: 5.2

Q: Return on Asset of HS India Ltd?

HS India Ltd Return on Asset is 2.78%, which is above its 5-year historical median of 2.1%, indicating improved asset utilization efficiency.

Q: Return on capital employed (ROCE) of HS India Ltd?

HS India Ltd Return on capital employed is 7.05% for FY-2025, which is above its 5-year historical median of 6.32%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Check Before You Invest : HS India Ltd

Snapshot

Q.1 Which industry/sub-sector does HS India Ltd belong to?

HS India Ltd belongs to the Travel & Hospitality sector, operating specifically within the Hotel, Resort & Restaurants segment.

Q.2 Is HS India Ltd a good quality company?

HS India Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is HS India Ltd undervalued or overvalued?

HS India Ltd appears Undervalued, as its key valuation ratios are lower than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	14.97	15.35
Price to Book	0.59	0.64
Price to Sales	0.75	0.83
EV to EBITDA	7.43	7.84

Q.4 Is HS India Ltd a good buy now?

HS India Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of HS India Ltd?

HS India Ltd revenue growth is 5.2% for FY-2025, which is above its 5-year CAGR of 0.77%, indicating faster growth.

Q.2 Gross Profit margin of HS India Ltd?

HS India Ltd Gross profit margin which is the profit after deduction of direct costs, is 10.4% for FY-2025, which is in line with its 5-year median of 10.4%, indicating stable margins.

Q.3 Operating Profit Margin of HS India Ltd?

HS India Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 14.83% for FY-2025, which is in line with its 5-year median of 14.83% indicating stable margins.

Q.4 Net Profit Margin of HS India Ltd?

HS India Ltd Net Profit Margin is 5.24% for FY-2025, is in line with its 5-year median of 5.2%, indicating stable margins.

	Current Level	5-year Historic Median
Gross Profit Margin (%)	10.4	10.4
Operating Profit Margin (%)	14.83	14.83
Net Profit Margin (%)	5.24	5.2

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of HS India Ltd?

HS India Ltd Return on Asset is 2.78%, which is above its 5-year historical median of 2.1%, indicating improved asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of HS India Ltd?

HS India Ltd Return on capital employed is 7.05% for FY-2025, which is above its 5-year historical median of 6.32%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Q.7 Return on Equity (ROE) of HS India Ltd?

HS India Ltd Return on equity is 4.52% for FY-2025, which is above its 5-year historical median of 3.92%, indicating the business is making better use of its shareholders capital.

Q.8 Cash conversion cycle of HS India Ltd?

HS India Ltd Cash conversion cycle is 31 days, below its 5-year historical median of 33 days, indicating improved working capital management. However, you need to compare this with its peers in the industry.

	Current Level	5-year Historic Median
Asset Turnover (x)	0.53	0.45
ROE (%)	4.52	3.92
ROCE (%)	7.05	6.32
Cash Conversion Cycle	31 days	33 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of HS India Ltd?

HS India Ltd Debt-to-Equity ratio is 0.51, which is above the industry average of 0.06, indicating higher debt levels in the industry.

Q.10 Debt to cash flow from operations of HS India Ltd?

HS India Ltd Debt to cash flow from operations is 8.14, which is at a unhealthy level.

Ownership & governance

D: Promoter shareholding and pledge status of HS India Ltd?

Q.1 Promoter shareholding and pledge status of HS India Ltd?

Promoters hold 41.11% of the HS India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does HS India Ltd performance compare with that of its Peers?

Q.1 Revenue growth of HS India Ltd vs industry peers?

HS India Ltd revenue CAGR is 0.77%, compared to the industry median CAGR of 3.58%, indicating slower growth and losing its market share.

Profit Metrics

	Current Level	5-year Industry Median
Revenue Growth (%)	5.2	3.6
Gross Profit Growth (%)	1.1	15.6
Operating Profit Growth (%)	5.3	13.5
Net Profit Growth (%)	6	18.8

Operating Efficiency

	Current Level	5-year Industry Median
Asset Turnover (x)	0.53	0.27
ROE (%)	4.52	2.92
ROCE (%)	7.05	6.09
Cash Conversion Cycle (days)	31.25	-

Valuation & price assessment

Q.1 Stock return of HS India Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 10.8% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	10.8%	16.7%	-1.2%	-12.6%

Q.2 Valuation ratios of HS India Ltd vs historical?

The current P/E ratio of 14.97 is in line with than its historical median of 15.35, indicating that the stock is trading near its historical average valuation.

Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	14.97	15.35	32.28
Price to Book	0.59	0.64	1.81
Price to Sales	0.75	0.83	5.80
EV to EBITDA	7.43	7.84	17.25

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Check Before You Invest : HS India Ltd

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

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