Juniper Hotels Limited

Consumer Cyclical — Lodging · NSE

₹217.80+₹1.70 (+0.79%)

DalalBaazaar Score

69 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by short-term liabilities exceed short-term assets, micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it, with both sales and profits growing well. Short-term liquidity is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:00 pm

Understanding the Business

Company site ↗

The 60-second version of Juniper Hotels Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Juniper Hotels Limited provides hotel services in India.

IndustryLodging

SectorConsumer Cyclical

Employees2,079

Annual revenue₹1,048 Cr

How does it make money?

Turns over ₹1,048 Cr a year. Of every ₹100 of sales, about ₹14 reaches shareholders as profit, with ₹41 left at the operating level before interest, tax and depreciation. Each of its 2,079 employees supports ₹50.4 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹50.4 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 6.8% 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 is the outlook?

3 analysts covering the stock expect revenue to grow about 15.7% and earnings to grow about 23.4% in the year to 2028. These are estimates by people who follow the company, not a forecast for the wider industry.

Est. revenue growth+15.7%

Est. earnings growth+23.4%

Analysts3

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +58% while net margin moved -6098% 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+58%

Margin effect-6098%

DalalBaazaar Score

69/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.33 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast

Quality vs. Valuation

Company Quality

73/ 100

Good

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

Valuation

75/ 100

Cheap

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

A good business currently available at an undemanding price — the combination this framework is built to look for.

Historical Valuation

Current P/E

29.2x

2Y Median

88.0x

28 monthly readings · mean 128.1x · range 33.6x–278.6x

Sector Median

69.2x

median of 4 sector peers

🟢Current valuation is approximately 67% below its 2y median of 88.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 58% below the peer median of 69.2x.

vs. its own history

Cheap

88.0x median over 28 months · -67%

vs. sector peers

Cheap

69.2x median of 4 peers · -58%

vs. generic bands

Fair

15x–35x

EV/EBITDA

14.1x

PEG

—

What's Good / What's Bad

🟢 What's Going Well3

Margins are improving
EBITDA margin is up from 34.3% to 40.8% over 3 years.
Debt is being paid down
Total debt is down 51% over 3 years.
Return on equity is rising
ROE has improved from -0.4% to 4.9%.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 watch

🟡Short-term liquidity is tightFinancial
Current ratio of 0.66 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 34.3% to 40.8%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Deleveraging frees up earnings
Debt is down 51% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.
Priced below its own history
The stock trades 67% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Cheaper than its peers
It trades 58% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Self-funding with balance-sheet headroom
Positive free cash flow of ₹196 Cr alongside low debt means growth, buybacks or dividends need no outside money — and a downturn can be absorbed rather than refinanced.

🔴 Bear CaseWhat could go wrong?

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.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

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

1Revenue growth stays above 12% a year✓ 16.4% CAGR
Latest reported year was 13.0%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 39%✓ 40.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Debt / EBITDA stays below 2x✗ 2.8x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
4Interest cover stays above 3x✓ 3.4x
How much operating profit can fall before interest stops being comfortably covered.
5Free cash flow remains positive✓ ₹196 Cr
Profit that never becomes cash eventually stops being profit.

Investment Checklist

9 / 12 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
✓ Analyst consensus isn't majority-sell
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 4 neutral · 2 weak

Market Cap

₹4,846 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

29.2x

Fair

Fairly valued against the generic band

P/B Ratio

1.69x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹7.45

Profitable

Profitable on a per-share basis

ROE

4.9%

Weak

Weak capital efficiency

ROCE

6.8%

Weak

Low return on total capital employed

Debt/Equity

0.42x

Low

Conservative leverage

Revenue Growth (YoY)

13.0%

Healthy

Healthy top-line growth

Profit Growth (YoY)

272.5%

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

₹196 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

P/E (Forward)

15.7x

Improving

Below the trailing multiple — the street expects earnings to grow into the price

Operating Margin

24.1%

Good

Healthy core-business profitability

Net Margin

15.4%

Good

Strong bottom-line conversion

Current Ratio

0.66

Tight

Tight short-term liquidity

Beta (vs Nifty)

0.33

Defensive

Steadier than the market

52W Range Position

30%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

217.0 / 211.9

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

52.6

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹665 Cr	₹818 Cr	₹944 Cr	₹1,048 Cr	+16.4%
EBITDA	₹228 Cr	₹276 Cr	₹357 Cr	₹427 Cr	+23.3%
EBITDA Margin	34.3%	33.7%	37.8%	40.8%	—
PAT (Net Profit)	-₹1 Cr	₹24 Cr	₹71 Cr	₹142 Cr	—
EPS	₹-0.07	₹1.46	₹3.2	₹6.36	—
ROE	-0.4%	0.9%	2.6%	4.9%	—
ROCE	6.2%	5.2%	6.0%	6.8%	—
Total Debt	₹2,444 Cr	₹1,332 Cr	₹1,457 Cr	₹1,194 Cr	-21.3%
Free Cash Flow	₹257 Cr	₹249 Cr	₹179 Cr	₹196 Cr	-8.6%

🟢 Revenue has grown at 16.4% a year over 3 years.

🟢 EBITDA has grown at 23.3% a year over 3 years.

🟢 EBITDA Margin has risen from 34.3% to 40.8% over 3 years (+6.5 pts).

🟢 PAT (Net Profit) has turned positive, from -₹1 Cr to ₹142 Cr.

🟢 EPS has turned positive, from ₹-0.07 to ₹6.36.

🟢 ROE has risen from -0.4% to 4.9% over 3 years (+5.4 pts).

🟡 ROCE has held roughly flat at 6.8% over 3 years.

🟢 Total Debt has shrunk at 21.3% a year over 3 years.

🔴 Free Cash Flow has shrunk at 8.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹4,292 Cr

Total Liabilities

₹1,424 Cr

Cash & Equivalents

₹11 Cr

Operating Cash Flow

₹394 Cr

Capex

-₹198 Cr

Shareholding (proxy)

Institutional Holding

14.7%

Insider Holding

77.5%

Analyst Consensus

Recommendations

4 Buy · 0 Hold · 0 Sell

Target Price (Mean)

₹317.5

+45.8% vs CMP

Target Range

₹240 – ₹350

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

3 mixed3 general

JUNIPER HOTELS LIMITED Share Price

Upstox, 16 Oct

Juniper Hotels shares extend rally for the second day in a row. Brokerages see up to 72% upside

Livemint, 19 AugPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Juniper Hotels gains 7% on acquisition update; what should investors do?

Business Standard, 05 JunM&A

🟡Mixed / dependsAcquisitions change the balance sheet before they change the earnings. Look at what was paid, how it was funded, and whether debt rose.

Juniper Hotels (NSEI:JUNIPER) Stock Forecast & Analyst Predictions

Simply Wall Street, 07 OctAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

Juniper Hotels (JUNIPER) Share/Stock Price Live, NSE

TechGraph, 10 Oct

Juniper Hotels Stock Signals to Watch This Week

Univest, 25 Sept

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth

MiddlingProfitability · Valuation

WeakRisk

Points for each in the Score ↑

Attractive on both counts

A good business currently available at an undemanding price — the combination this framework exists to look for. The work left is qualitative: whether the advantage the numbers imply is one you can identify and expect to last.

1 of 5 tripwires tripped — Debt / EBITDA stays below 2x · see Key things to watch ↑