Announcement • Jun 10
Lemon Tree Hotels Limited Announces Appointment of Kartikeya Kumar Singh as Chief Digital and Transformation Officer & Senior Management Personnel, Effective June 08, 2026 Lemon Tree Hotels Limited announced that Mr. Kartikeya Kumar Singh was appointed as Chief Digital and Transformation Officer & Senior Management Personnel of the Company, effective June 08, 2026. Mr. Kartikeya Kumar Singh holds a PG Diploma in IT & Management Systems from Symbiosis Centre for Management & Human Resource Development, Pune and a Bachelor’s degree in Architecture from Bengal Engineering & Science University, Kolkata. He has a total experience of 23 years in digital transformation, analytics, technology strategy, and consumer goods operations. He commenced his professional journey with Videocon International Limited in 2003. Subsequently, he worked with Godrej Sara Lee Ltd., Phillips Electronics India Ltd., Pernod Ricard India Pvt. Ltd., Jubilant Life Sciences Limited and Adidas India Marketing Pvt. Ltd. He was last associated with Coca-Cola India Private Limited as the Chief Information Officer – India and South West Asia. Reported Earnings • May 30
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹2.87 (up from ₹2.48 in FY 2025). Revenue: ₹14.5b (up 13% from FY 2025). Net income: ₹2.27b (up 16% from FY 2025). Profit margin: 16% (in line with FY 2025). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 22
Lemon Tree Hotels Limited to Report Q4, 2026 Results on May 28, 2026 Lemon Tree Hotels Limited announced that they will report Q4, 2026 results on May 28, 2026 Board Change • Apr 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive VP of Finance, CFO & Executive Director Kapil Sharma was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Apr 21
Now 28% overvalued Over the last 90 days, the stock has fallen 7.4% to ₹122. The fair value is estimated to be ₹94.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 82% in the next 2 years. Reported Earnings • Feb 07
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: ₹0.79 (in line with 3Q 2025). Revenue: ₹4.08b (up 15% from 3Q 2025). Net income: ₹626.7m (flat on 3Q 2025). Profit margin: 15% (down from 18% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
Lemon Tree Hotels Limited to Report Q3, 2026 Results on Feb 06, 2026 Lemon Tree Hotels Limited announced that they will report Q3, 2026 results on Feb 06, 2026 Announcement • Jan 23
Lemon Tree Hotels Limited Appoints Vivek Jhawar as Senior Vice President - Business Development and Senior Management Personnel, Effective January 23, 2026 Lemon Tree Hotels Limited announced that Mr. Vivek Jhawar has appointed as Senior Vice President - Business Development and Senior Management Personnel (SMP) of the Company. Date of Appointment: January 23, 2026; Term: Full-time employment. Mr. Vivek Jhawar, Bachelor of Commerce (Honors) degree from the University of Calcutta (2004) and a PGDM in Marketing with specialization in Retail from S.P. Jain Center of Management (2006) and with over 17 years of experience across retail sector and business development, Vivek brings strong domain expertise and strategic acumen. He commenced his professional career with Pantaloons Retail India Ltd. (Future Group) in 2006 and has since been associated with leading organizations including Aditya Birla Fashion and Retail Limited (Pantaloons Division), BIBA Apparels and Melorra. Reported Earnings • Nov 14
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: ₹0.44 (up from ₹0.37 in 2Q 2025). Revenue: ₹3.08b (up 8.3% from 2Q 2025). Net income: ₹346.0m (up 17% from 2Q 2025). Profit margin: 11% (in line with 2Q 2025). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Nov 06
Lemon Tree Hotels Limited to Report Q2, 2026 Results on Nov 12, 2025 Lemon Tree Hotels Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Announcement • Aug 29
Lemon Tree Hotels Limited, Annual General Meeting, Sep 25, 2025 Lemon Tree Hotels Limited, Annual General Meeting, Sep 25, 2025, at 13:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹169, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 42x in the Hospitality industry in India. Total returns to shareholders of 145% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹77.60 per share. Reported Earnings • Aug 09
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: ₹0.48 (up from ₹0.25 in 1Q 2025). Revenue: ₹3.17b (up 18% from 1Q 2025). Net income: ₹383.3m (up 94% from 1Q 2025). Profit margin: 12% (up from 7.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 4.0%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Lemon Tree Hotels Limited to Report Q1, 2026 Results on Aug 08, 2025 Lemon Tree Hotels Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Announcement • Jul 03
Lemon Tree Hotels Limited Announces Executive Resignations, Effective June 30, 2025 Lemon Tree Hotels Limited announced changes in its Senior Management Personnel due to a change in reporting structure. Mr. Sumant Jaidka, Sr. Vice President - Ops & Chief Operations Officer, and Mr. Rajesh Kumar, Sr. Vice President - Human Resources, will cease to be Senior Management Personnel effective from the closure of business hours on June 30, 2025. Additionally, Mr. Jagdish Kumar Chawla, Executive Vice President - Projects and Engineering, will also cease to be a Senior Management Personnel effective from the close of business hours on June 30, 2025. Reported Earnings • May 30
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹2.48 (up from ₹1.88 in FY 2024). Revenue: ₹12.9b (up 20% from FY 2024). Net income: ₹1.97b (up 32% from FY 2024). Profit margin: 15% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 7.0%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • May 20
Lemon Tree Hotels Limited to Report Q4, 2025 Results on May 29, 2025 Lemon Tree Hotels Limited announced that they will report Q4, 2025 results on May 29, 2025 Announcement • Feb 26
Lemon Tree Hotels Limited Announces Resignation of Rashi Goel as Company Secretary & Compliance Officer, Effective March 7, 2025 Ms. Rashi Goel has resigned from the position of Company Secretary & Compliance Officer (Key Managerial Personnel) of Lemon Tree Hotels Limited. Her last date of working with the Company shall be March 7, 2025. Reason is due to some health issues. Price Target Changed • Feb 13
Price target increased by 8.1% to ₹170 Up from ₹157, the current price target is an average from 17 analysts. New target price is 27% above last closing price of ₹134. Stock is down 2.5% over the past year. The company is forecast to post earnings per share of ₹2.29 for next year compared to ₹1.88 last year. Announcement • Feb 05
Lemon Tree Hotels Limited Appoints Ms. Rashi Goel as Company Secretary (Key Managerial Personnel) and Compliance Officer Lemon Tree Hotels Limited at the SBM held on February 4, 2025, the board has approved the appointment of Ms. Rashi Goel (ICSI Membership No: FCS-9577) as Company Secretary (Key Managerial Personnel) and Compliance Officer of the Company with effect from February 5, 2025. Ms. Rashi Goel is a qualified Company Secretary, having a degree of L.L.B and B.Com (Hons). She has a post qualification experience of 14.2 years in Listing
Regulations, Corporate Governance, SEBI ICDR Regulations, ESOPs, Insider Trading, Fund Raising (Private Placement/Preferential Allotment to Non- Promoter Category, Qualified Institutional Placement). Reported Earnings • Feb 05
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: ₹0.79 (up from ₹0.45 in 3Q 2024). Revenue: ₹3.56b (up 23% from 3Q 2024). Net income: ₹624.9m (up 77% from 3Q 2024). Profit margin: 18% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) missed analyst estimates by 1.3%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Announcement • Jan 24
Lemon Tree Hotels Limited to Report Q3, 2025 Results on Feb 04, 2025 Lemon Tree Hotels Limited announced that they will report Q3, 2025 results on Feb 04, 2025 Announcement • Dec 31
Lemon Tree Hotels Limited Announces Resignation of Jyoti Verma as Group Company Secretary & Compliance Officer (Key Managerial Personnel), Effective January 31, 2025 Lemon Tree Hotels Limited informed that Ms. Jyoti Verma has resigned from the position of Group Company Secretary & Compliance Officer (Key Managerial Personnel) of the Company to pursue better career opportunities. Her last date of working with the Company shall be January 31, 2025. Ms. Jyoti Verma had confirmed that there are no other material reasons for her resignation other than one specified. Announcement • Nov 22
Lemon Tree Hotels Limited Announces Resignation of Harleen Mehta as Sr. Vice President-Sales Lemon Tree Hotels Limited announced that Ms. Harleen Mehta, Sr. Vice President-Sales has tendered her resignation from the post of Sr. VP-Sales vide her resignation letter dated November 21, 2024. Resignation of Ms. Harleen Mehta, from the position of Sr. Vice President-Sales to pursue new opportunities in her career, effective January 20, 2025. In order to ensure a smooth transition, Sanjay Rai, Strategic Advisor to CMD and Head of National Sales will assume his new role as Chief Revenue Officer. In this enlarged role, apart from the Sales function, Sanjay will also oversee the Revenue Management & Distribution, Loyalty, PR & Communications and Brand Marketing functions for the group. He will report to the Chairman and Managing
Director. Reported Earnings • Nov 16
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: ₹0.37 (up from ₹0.29 in 2Q 2024). Revenue: ₹2.85b (up 25% from 2Q 2024). Net income: ₹296.4m (up 31% from 2Q 2024). Profit margin: 10% (in line with 2Q 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Lemon Tree Hotels Limited to Report Q2, 2025 Results on Nov 14, 2024 Lemon Tree Hotels Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Buy Or Sell Opportunity • Oct 08
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to ₹115. The fair value is estimated to be ₹94.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 132% in the next 2 years. Announcement • Aug 30
Lemon Tree Hotels Limited, Annual General Meeting, Sep 26, 2024 Lemon Tree Hotels Limited, Annual General Meeting, Sep 26, 2024, at 10:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹116, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 45x in the Hospitality industry in India. Total returns to shareholders of 190% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹99.04 per share. Reported Earnings • Aug 08
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹0.25 (down from ₹0.30 in 1Q 2024). Revenue: ₹2.68b (up 21% from 1Q 2024). Net income: ₹198.1m (down 16% from 1Q 2024). Profit margin: 7.4% (down from 11% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Jul 16
Lemon Tree Hotels Limited to Report Q1, 2025 Results on Aug 07, 2024 Lemon Tree Hotels Limited announced that they will report Q1, 2025 results on Aug 07, 2024 Buy Or Sell Opportunity • Jul 10
Now 21% undervalued Over the last 90 days, the stock has risen 4.3% to ₹147. The fair value is estimated to be ₹185, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹1.88 (vs ₹1.45 in FY 2023) Full year 2024 results: EPS: ₹1.88 (up from ₹1.45 in FY 2023). Revenue: ₹10.8b (up 23% from FY 2023). Net income: ₹1.48b (up 30% from FY 2023). Profit margin: 14% (in line with FY 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Lemon Tree Hotels Limited to Report Q4, 2024 Results on May 29, 2024 Lemon Tree Hotels Limited announced that they will report Q4, 2024 results on May 29, 2024 Announcement • Apr 27
Lemon Tree Hotels Appoints Akriti Arora Bhandari as Director of Communications and Public Relations Lemon Tree Hotels announced that Akriti Arora Bhandari has been appointed as Director of Communications and Public Relations. Akriti Arora Bhandari has been with Lemon Tree for nearly 8 years. Before this, she was Group Head-Communications and Public Relations. Bhandari has earlier worked in senior communication roles at Crosshairs Communication and Goodword Media Services. Price Target Changed • Feb 10
Price target increased by 7.4% to ₹145 Up from ₹135, the current price target is an average from 15 analysts. New target price is 6.6% above last closing price of ₹136. Stock is up 77% over the past year. The company is forecast to post earnings per share of ₹1.81 for next year compared to ₹1.45 last year. Reported Earnings • Feb 07
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: ₹0.45 (down from ₹0.51 in 3Q 2023). Revenue: ₹2.91b (up 25% from 3Q 2023). Net income: ₹354.0m (down 11% from 3Q 2023). Profit margin: 12% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Announcement • Jan 23
Lemon Tree Hotels Limited to Report Q3, 2024 Results on Feb 06, 2024 Lemon Tree Hotels Limited announced that they will report Q3, 2024 results on Feb 06, 2024 Announcement • Nov 29
Lemon Tree Hotels Limited Announces Resignation of Vikramjit Singh as President, Effective January 31, 2024 Lemon Tree Hotels Limited announced that Mr. Vikramjit Singh has resigned from the position of the President of the Company to pursue an entrepreneurial role. His last date of working with the Company shall be January 31, 2024. Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: ₹0.29 (up from ₹0.21 in 2Q 2023). Revenue: ₹2.30b (up 17% from 2Q 2023). Net income: ₹226.5m (up 35% from 2Q 2023). Profit margin: 9.8% (up from 8.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.3%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Announcement • Nov 10
Lemon Tree Hotels Limited Appoints Jyoti Verma as Company Secretary and Compliance Officer of the Company, Effective from November 21, 2023 Lemon Tree Hotels Limited announced the appointment of Ms. Jyoti Verma (ICSI Membership No: FCS-7210) as Company Secretary (Key Managerial Personnel) and Compliance Officer of the Company with effect from November 21, 2023. Announcement • Oct 27
Lemon Tree Hotels Limited to Report Q2, 2024 Results on Nov 09, 2023 Lemon Tree Hotels Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Sep 28
Lemon Tree Hotels Limited Announces Resignation of Nikhil Sethi from the Position of AVP Legal and Group Company Secretary and Compliance Officer, Effective October 31, 2023 Lemon Tree Hotels Limited informed that Mr. Nikhil Sethi has resigned from the position of AVP Legal and Group Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company. His resignation shall come into effect from 31 October, 2023. Announcement • Sep 05
Lemon Tree Hotels Limited, Annual General Meeting, Sep 27, 2023 Lemon Tree Hotels Limited, Annual General Meeting, Sep 27, 2023, at 15:00 Indian Standard Time. Agenda: To consider and approve the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 and the Reports of the Auditors and Board of Directors in respect thereof; and Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 and report of the Auditors in respect thereof; to consider and approve the appoint a director in the place of Mr. Willem Albertus Hazeleger who retires by rotation and being eligible offers himself for re-appointment; and to consider other matters. Reported Earnings • Aug 11
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ₹0.30 (up from ₹0.18 in 1Q 2023). Revenue: ₹2.25b (up 17% from 1Q 2023). Net income: ₹234.6m (up 69% from 1Q 2023). Profit margin: 10% (up from 7.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Jul 25
Lemon Tree Hotels Limited to Report First Half, 2023 Results on Aug 10, 2023 Lemon Tree Hotels Limited announced that they will report first half, 2023 results on Aug 10, 2023 Reported Earnings • Jun 01
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹1.45 (up from ₹1.11 loss in FY 2022). Revenue: ₹8.79b (up 118% from FY 2022). Net income: ₹1.15b (up ₹2.02b from FY 2022). Profit margin: 13% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 7.4%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 12
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹0.51 (up from ₹0.02 loss in 3Q 2022). Revenue: ₹2.34b (up 63% from 3Q 2022). Net income: ₹399.7m (up ₹418.5m from 3Q 2022). Profit margin: 17% (up from net loss in 3Q 2022). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Announcement • Feb 11
Lemon Tree Hotels Limited Announces Re-Designation of Niten Malhan from Independent Director to Vice Chairman and Lead Independent Director Lemon Tree Hotels Limited at its board meeting held on February 10, 2023 re-designated Mr. Niten Malhan, Independent Director (DIN: 00614624) as Vice Chairman and Lead Independent Director of the Company with effect from February 10, 2023 for his remaining tenue i.e till November 5, 2025. Mr. Niten Malhan is the founder and managing partner of New Mark Advisors LLP, an investment manager focused on applying the principles of private equity investing to small and mid-sized listed Indian companies with an aim to achieve long term compounding of capital. Prior to founding New Mark Advisors LLP in April 2018, he was the managing director and co-head of India at Warburg Pincus India Private Limited (Warburg Pincus"), a global private equity firm. Niten joined Warburg Pincus in 2001 and became a partner at the firm in 2007. In 2012, he was appointed the co-head of the India business, co-leading a team of 15 investment professionals and a portfolio of over $3 billion in value. Between 2012 and 2017, Niten was also a member of the global executive management group of the firm, a group of senior partners who lead different offices and industry groups at Warburg Pincus. He has served as member of the board of directors of several Warburg Pincus investee companies including Alliance Tire Company, AVTEC, Cleanmax Solar, DB Corp, Diligent Power Private Limited, Embassy Industrial Parks, Havells India Limited, Laurus Labs, Lemon Tree Hotels, Metropolis Healthcare Limited and Sintex Industries Limited. Niten has also served as the vice-chairman of the Indian Venture Capital and Private Equity Association (IVCA) and is a Founder and Trustee of Plaksha University. Prior to joining Warburg Pincus, he worked as director of business development at Stratum 8, a Silicon Valley technology start-up company. Before that, he was an engagement manager at McKinsey & Company, and worked in the India, South East Asia and Boston offices of the firm. Niten studied Computer Science & Engineering at Indian Institute of Technology, New Delhi, and completed his Post Graduate Diploma in Management from Indian Institute of Management, Ahmedabad. Announcement • Jan 26
Lemon Tree Hotels Limited to Report Q3, 2023 Results on Feb 10, 2023 Lemon Tree Hotels Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Feb 10, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: ₹0.21 (up from ₹0.26 loss in 2Q 2022). Revenue: ₹1.97b (up 104% from 2Q 2022). Net income: ₹167.7m (up ₹375.9m from 2Q 2022). Profit margin: 8.5% (up from net loss in 2Q 2022). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 110%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in India. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Non-Executive Director Niten Malhan was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 03
Lemon Tree Hotels Limited to Report Q2, 2023 Results on Nov 11, 2022 Lemon Tree Hotels Limited announced that they will report Q2, 2023 results at 4:00 PM, Indian Standard Time on Nov 11, 2022 Buying Opportunity • Oct 10
Now 21% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be ₹112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 17
Lemon Tree Hotels Limited Announces Management Changes Lemon Tree Hotels Limited at the Annual General Meeting held on September 14, 2022, Mr. Ashish Kumar Guha (DIN No: 0004364) ceased to be a Non-Executive Independent Director of the Company effective September 14, 2022. Mr. Arvind Singhania (DIN No: 00934017) ceased to be a Non-Executive Independent Director of the Company effective September 14, 2022. Mr. Pradeep Mathur (DIN No: 05198770) shall cease to be a Non-Executive Independent Director of the Company effective December 4, 2022. Announcement • Aug 23
Lemon Tree Hotels Limited, Annual General Meeting, Sep 14, 2022 Lemon Tree Hotels Limited, Annual General Meeting, Sep 14, 2022, at 15:00 Indian Standard Time. Agenda: To consider the Audited Standalone Financial Statements of the Company for the year ended March 31, 2022 including the Audited Balance Sheet as at March 31, 2022 and the Statement of Profit and Loss and Cash Flow Statements for the year ended March 31, 2022 and the Reports of the Auditors and Board of Directors in respect thereof; and to appoint director in the place of Mr. Aditya Madhav Keswani who retires by rotation and is eligible for re- appointment; and to consider other matter. Buying Opportunity • Aug 19
Now 23% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be ₹91.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Aug 06
Price target increased to ₹76.55 Up from ₹70.27, the current price target is an average from 10 analysts. New target price is 5.0% above last closing price of ₹72.90. Stock is up 79% over the past year. The company is forecast to post earnings per share of ₹0.92 next year compared to a net loss per share of ₹1.11 last year. Reported Earnings • Aug 03
First quarter 2023 earnings released: EPS: ₹0.18 (vs ₹0.51 loss in 1Q 2022) First quarter 2023 results: EPS: ₹0.18 (up from ₹0.51 loss in 1Q 2022). Revenue: ₹1.92b (up 356% from 1Q 2022). Net income: ₹138.5m (up ₹539.7m from 1Q 2022). Profit margin: 7.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 49%, compared to a 38% growth forecast for the industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jul 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.6%. The fair value is estimated to be ₹81.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jul 21
Lemon Tree Hotels Limited to Report Q1, 2023 Results on Aug 02, 2022 Lemon Tree Hotels Limited announced that they will report Q1, 2023 results at 4:00 AM, Indian Standard Time on Aug 02, 2022 Buying Opportunity • Jun 20
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be ₹75.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Jun 02
Price target increased to ₹72.89 Up from ₹67.78, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ₹70.45. Stock is up 64% over the past year. The company is forecast to post earnings per share of ₹0.62 next year compared to a net loss per share of ₹1.11 last year. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 1 highly experienced director. Independent Non-Executive Director Niten Malhan was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 28
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: ₹1.11 loss per share (up from ₹1.61 loss in FY 2021). Revenue: ₹4.16b (up 65% from FY 2021). Net loss: ₹874.3m (loss narrowed 31% from FY 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 80%, compared to a 44% growth forecast for the restaurants industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • May 18
Lemon Tree Hotels Limited to Report Q4, 2022 Results on May 27, 2022 Lemon Tree Hotels Limited announced that they will report Q4, 2022 results on May 27, 2022 Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Niten Malhan was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: ₹0.02 loss per share (up from ₹0.40 loss in 3Q 2021). Revenue: ₹1.44b (up 110% from 3Q 2021). Net loss: ₹18.7m (loss narrowed 94% from 3Q 2021). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) missed analyst estimates by 73%. Over the next year, revenue is forecast to grow 73%, compared to a 43% growth forecast for the industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 18
Insider recently sold ₹3.5m worth of stock On the 16th of November, Jagdish Chawla sold around 60k shares on-market at roughly ₹58.78 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. Price Target Changed • Oct 26
Price target increased to ₹55.18 Up from ₹48.64, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of ₹52.80. Stock is up 85% over the past year. The company is forecast to post a net loss per share of ₹0.98 next year compared to a net loss per share of ₹1.61 last year. Reported Earnings • Oct 23
Second quarter 2022 earnings released: ₹0.26 loss per share (vs ₹0.47 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: ₹969.0m (up 104% from 2Q 2021). Net loss: ₹208.2m (loss narrowed 44% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Sep 26
Insider recently sold ₹2.1m worth of stock On the 22nd of September, Jagdish Chawla sold around 50k shares on-market at roughly ₹41.76 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. Reported Earnings • Aug 12
First quarter 2022 earnings released: ₹0.51 loss per share (vs ₹0.53 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹442.8m (up 8.9% from 1Q 2021). Net loss: ₹401.2m (loss narrowed 4.2% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 18
Full year 2021 earnings released: ₹1.61 loss per share (vs ₹0.12 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹2.65b (down 61% from FY 2020). Net loss: ₹1.27b (loss widened ₹1.18b from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Executive Departure • Mar 25
Non-Executive Director has left the company On the 23rd of March, Ravi Jaipuria's tenure as Non-Executive Director ended after 17.3 years in the role. We don't have any record of a personal shareholding under Ravi's name. A total of 2 executives have left over the last 12 months. Recent Insider Transactions • Mar 20
Insider recently sold ₹1.5m worth of stock On the 17th of March, Aradhana Lal sold around 39k shares on-market at roughly ₹38.90 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.2b more than they bought in the last 12 months. Reported Earnings • Feb 11
Third quarter 2021 earnings released: ₹0.40 loss per share (vs ₹0.15 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₹683.8m (down 66% from 3Q 2020). Net loss: ₹312.5m (down 356% from profit in 3Q 2020). Analyst Estimate Surprise Post Earnings • Feb 11
Revenue and earnings miss expectations Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the next year, revenue is forecast to grow 69%, compared to a 38% growth forecast for the Hospitality industry in India. Announcement • Jan 30
Lemon Tree Hotels Limited to Report Q3, 2021 Results on Feb 09, 2021 Lemon Tree Hotels Limited announced that they will report Q3, 2021 results on Feb 09, 2021 Recent Insider Transactions • Dec 26
Chairman & MD recently sold ₹373m worth of stock On the 18th of December, Patanjali Keswani sold around 9m shares on-market at roughly ₹41.43 per share. This was the largest sale by an insider in the last 3 months. This was Patanjali's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 13
Insider recently sold ₹18m worth of stock On the 8th of December, Davander Tomar sold around 410k shares on-market at roughly ₹42.97 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹16m more than they bought in the last 12 months. Price Target Changed • Dec 03
Price target raised to ₹33.73 Up from ₹31.00, the current price target is an average from 11 analysts. The new target price is 13% below the current share price of ₹38.90. As of last close, the stock is down 38% over the past year. Is New 90 Day High Low • Nov 18
New 90-day high: ₹31.85 The company is up 2.0% from its price of ₹31.25 on 20 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹6.73 per share. Analyst Estimate Surprise Post Earnings • Nov 09
Revenue and earnings miss expectations Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 37%. Over the next year, revenue is forecast to grow 13%, compared to a 1.4% growth forecast for the Hospitality industry in India. Reported Earnings • Nov 09
Second quarter 2021 earnings released: ₹0.47 loss per share The company reported a poor second quarter result with increased losses and weaker revenues and control over expenses. Second quarter 2021 results: Revenue: ₹536.1m (down 65% from 2Q 2020). Net loss: ₹371.3m (loss widened ₹349.8m from 2Q 2020). Announcement • Nov 08
Lemon Tree Hotels Limited Appoints Mr. Niten Malhan as an Additional Non-Executive Independent Director The Board of Directors of Lemon Tree Hotels Limited at its meeting held on November 6, 2020, the board has appointed Mr. Niten Malhan as an Additional Non-Executive Independent Director, on the Board of the Company, with effect from November 6, 2020. Announcement • Nov 03
Lemon Tree Hotels Limited to Report Q2, 2021 Results on Nov 06, 2020 Lemon Tree Hotels Limited announced that they will report Q2, 2021 results on Nov 06, 2020 Announcement • Aug 07
Lemon Tree Hotels Limited to Report Q1, 2021 Results on Aug 06, 2020 Lemon Tree Hotels Limited announced that they will report Q1, 2021 results on Aug 06, 2020