Country Club Hospitality & Holidays Limited

Consumer Cyclical — Lodging · NSE

₹13.60+₹0.26 (+1.95%)

DalalBaazaar Score

35 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, short-term liabilities exceed short-term assets, negative free cash flow.

In simple words: The company is currently losing money, but sales are shrinking. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:03 pm

Understanding the Business

Company site ↗

The 60-second version of Country Club Hospitality & Holidays Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Country Club Hospitality & Holidays Limited provides leisure, recreation, and hospitality membership services in India and the Middle East. The company sells vacation ownership and other related services.

IndustryLodging

SectorConsumer Cyclical

Employees816

Annual revenue₹78 Cr

How does it make money?

Turns over ₹78 Cr a year. Of every ₹100 of sales, about ₹-23 reaches shareholders as profit, with ₹26 left at the operating level before interest, tax and depreciation. Each of its 816 employees supports ₹9.6 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹9.6 lakh

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -3.9% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE25.9%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +22% while net margin moved -214% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+22%

Margin effect-214%

DalalBaazaar Score

35/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Return on equity is negative
✗ ROE has fallen by 9.9 points over the period

Quality vs. Valuation

Company Quality

32/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

44/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

12.1x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Debt is being paid down
Total debt is down 81% over 3 years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 4.0% to -5.9% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 4.1% to -3.9% — often a sign of competition or overexpansion.

Red Flags

7 items require attention · 5 high · 2 watch

🔴High leverageFinancial
Debt/Equity of 7.90x — earnings must service borrowings before shareholders see anything.
🔴Thin interest coverageFinancial
Operating profit covers interest only -33.4x — little room if earnings dip.
🔴Free cash flow negative for 4 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴The company is lossmakingFinancial
Net profit of -₹18 Cr in the latest reported year.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 27.0 points, from 52.9% to 25.9%.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from 3.5x to -33.4x.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.74 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Deleveraging frees up earnings
Debt is down 81% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 52.9% to 25.9%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Leverage amplifies any setback
Debt/Equity of 7.90x. Interest is payable whether or not the business has a good year.
Growth barely outpaces inflation
Revenue compounding at 6.9% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
Returns on shareholder capital are falling
ROE has dropped from 4.0% to -5.9%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 24%✓ 25.9%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹26 Cr
Profit that never becomes cash eventually stops being profit.
3Interest cover stays above 3x✗ -33.4x
How much operating profit can fall before interest stops being comfortably covered.
4Revenue growth stays above 5% a year✓ 6.9% CAGR
Latest reported year was -37.6%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
5Debt / EBITDA stays below 2x✓ 1.2x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.

Investment Checklist

4 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 2 neutral · 7 weak

Market Cap

₹222 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

0.75x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹-1.07

Loss-making

Negative earnings per share — the business is losing money

ROE

-5.9%

Weak

Weak capital efficiency

ROCE

-3.9%

Weak

Low return on total capital employed

Debt/Equity

7.90x

High

High leverage

Revenue Growth (YoY)

-37.6%

Shrinking

Sales are contracting

Profit Growth (YoY)

50.0%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹26 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

2.2%

Weak

Thin margins leave little room for error

Net Margin

-16.4%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.74

Tight

Tight short-term liquidity

Beta (vs Nifty)

0.33

Defensive

Steadier than the market

52W Range Position

45%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

13.0 / 12.8

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

56.3

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹64 Cr	₹52 Cr	₹46 Cr	₹78 Cr	+6.9%
EBITDA	₹34 Cr	₹13 Cr	₹19 Cr	₹20 Cr	-15.8%
EBITDA Margin	52.9%	24.1%	41.4%	25.9%	—
PAT (Net Profit)	₹13 Cr	-₹5 Cr	₹4 Cr	-₹18 Cr	—
EPS	₹0.77	₹-0.3	₹0.27	₹-1.08	—
ROE	4.0%	-1.6%	1.4%	-5.9%	—
ROCE	4.1%	-0.0%	1.4%	-3.9%	—
Total Debt	₹123 Cr	₹74 Cr	₹34 Cr	₹24 Cr	-42.3%
Free Cash Flow	-₹65 Cr	-₹5 Cr	-₹9 Cr	-₹26 Cr	—

🟢 Revenue has grown at 6.9% a year over 3 years.

🔴 EBITDA has shrunk at 15.8% a year over 3 years.

🔴 EBITDA Margin has fallen from 52.9% to 25.9% over 3 years (-27.0 pts).

🔴 PAT (Net Profit) has turned negative, from ₹13 Cr to -₹18 Cr.

🔴 EPS has turned negative, from ₹0.77 to ₹-1.08.

🔴 ROE has fallen from 4.0% to -5.9% over 3 years (-9.9 pts).

🔴 ROCE has fallen from 4.1% to -3.9% over 3 years (-7.9 pts).

🟢 Total Debt has shrunk at 42.3% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹519 Cr

Total Liabilities

₹221 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

-₹26 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

76.1%

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

1 mixed5 general

Country Club Hospitality and Holidays Stock Signals to Watch This

Univest, 25 Sept

Country Club Hospitality & Holidays (CCHHL.NS) Slips 2.89% to ₹13.1 as Support Comes Into Focus - ATR Trailing Stop

https://www.siam.in/, 27 Sept

Country Club Hospitality & Holidays Ltd. Peer Comparison – Compare with Others

Value Research, 29 Aug

Country Club Hospitality adopts FY26 financials, re-appoints Y. Rajeev Reddy

scanx.trade, 30 Sept

Country Club Expands Globally, Plans Turkiye Entry After Thailand MasterCard Success Following Invitation from H.E. Orhan Yalman Okan

Business Standard, 03 Jul

Why Is Country Club Hospitality and Holidays Share Price Falling Key Reasons 2026

Univest, 03 JunPrice move

🟡Mixed / dependsA price move rather than a change in the business. If the figures on this page have not moved, the fall is either an opportunity or news they have yet to catch up with.

Watch Items

Revenue growth is negative (-37.6%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

MiddlingValuation

WeakBusiness Quality · Financial Health · Growth · Profitability · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 5 high-severity red flags sit above this conclusion and should be read first.

2 of 5 tripwires tripped — Free cash flow remains positive; Interest cover stays above 3x · see Key things to watch ↑