Supreme Holdings & Hospitality (India) Limited

Real Estate — Real Estate - Development · NSE

₹29.12−₹0.62 (−2.08%)

DalalBaazaar Score

43 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by moderate debt load, negative free cash flow, 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. Cash generation is currently 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 Supreme Holdings & Hospitality (India) Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Supreme Holdings & Hospitality (India) Limited, together with its subsidiaries, constructs and develops commercial and residential projects in India. The company develops townships under the Belmac Residences, Belmac Riverside, Belmac Codename, and Belmac Infinity brands.

IndustryReal Estate - Development

SectorReal Estate

Employees19

Annual revenue₹4 Cr

How does it make money?

Turns over ₹4 Cr a year. Of every ₹100 of sales, about ₹10 reaches shareholders as profit, with ₹18 left at the operating level before interest, tax and depreciation. Each of its 19 employees supports ₹20.0 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹20.0 lakh

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY 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 0.1% 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 ROE10.3%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved -95% while net margin moved -37% 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-95%

Margin effect-37%

DalalBaazaar Score

43/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 62.7% a year
✗ Profit has declined at 68.0% a year

Quality vs. Valuation

Company Quality

44/ 100

Weak

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

Valuation

29/ 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.

Historical Valuation

Current P/E

153.3x

2Y Median

31.8x

22 monthly readings · mean 88.3x · range 16.1x–420.4x

Sector Median

30.2x

median of 3 sector peers

⚠️Current valuation is approximately 382% above its 2y median of 31.8x. Paying more than usual needs a reason — faster growth, a better balance sheet, or a re-rating you believe in.

⚠️Against its sector it trades 408% above the peer median of 30.2x.

vs. its own history

Expensive

31.8x median over 22 months · +382%

vs. sector peers

Expensive

30.2x median of 3 peers · +408%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

166.1x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention1

Return on capital is falling
ROCE has declined from 2.7% to 0.1% — often a sign of competition or overexpansion.

Red Flags

2 items require attention · 1 high · 1 watch

🔴Free cash flow negative for 3 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🟡Profit is decliningFinancial
Net profit is down 97% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

The debt load needs earnings to hold up
Debt is 8.6x EBITDA. At that level a downturn in earnings turns a manageable balance sheet into a refinancing problem, and lenders get paid before shareholders.
The price already assumes success
The stock trades 382% above its own median multiple. At this level the business has to deliver just to stand still, and a stumble is repriced twice — lower earnings on a lower multiple.
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

1EBITDA margin holds above 16%✓ 18.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Debt / EBITDA falls below 3x✗ 8.6x
Already stretched, so this is a reduction target rather than a level to hold. Around 3x is where lenders typically start attaching conditions.
3Free cash flow remains positive✗ -₹3 Cr
Profit that never becomes cash eventually stops being profit.
4ROCE stays above 8%✗ 0.1%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
5Valuation vs its own median of 31.8x✗ 153.3x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

5 / 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

4 good · 3 neutral · 4 weak

Market Cap

₹113 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

153.3x

Expensive

Expensive — verify against sector peers

P/B Ratio

0.28x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.19

Profitable

Profitable on a per-share basis

ROE

0.1%

Weak

Weak capital efficiency

ROCE

0.1%

Weak

Low return on total capital employed

Debt/Equity

1.06x

Moderate

Moderate leverage

Revenue Growth (YoY)

1284.1%

Healthy

Healthy top-line growth

Profit Growth (YoY)

400.0%

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

-₹3 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

-10.4%

Weak

Thin margins leave little room for error

Net Margin

12.2%

Good

Strong bottom-line conversion

Current Ratio

6.04

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.56

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

30.7 / 35.6

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

36.2

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹73 Cr	₹72 Cr	₹66 Cr	₹4 Cr	-62.7%
EBITDA	₹14 Cr	₹11 Cr	₹14 Cr	₹1 Cr	-63.2%
EBITDA Margin	19.2%	16.0%	21.1%	18.4%	—
PAT (Net Profit)	₹12 Cr	₹8 Cr	₹10 Cr	₹0 Cr	-68.0%
EPS	₹3.21	₹2.11	₹2.78	₹0.09	-69.6%
ROE	2.2%	1.4%	1.8%	0.1%	—
ROCE	2.7%	2.2%	2.4%	0.1%	—
Total Debt	₹6 Cr	₹6 Cr	₹6 Cr	₹6 Cr	+1.5%
Free Cash Flow	₹6 Cr	-₹36 Cr	-₹11 Cr	-₹3 Cr	—

🔴 Revenue has shrunk at 62.7% a year over 3 years.

🔴 EBITDA has shrunk at 63.2% a year over 3 years.

🟡 EBITDA Margin has held roughly flat at 18.4% over 3 years.

🔴 PAT (Net Profit) has shrunk at 68.0% a year over 3 years.

🔴 EPS has shrunk at 69.6% a year over 3 years.

🔴 ROE has fallen from 2.2% to 0.1% over 3 years (-2.2 pts).

🔴 ROCE has fallen from 2.7% to 0.1% over 3 years (-2.5 pts).

🟡 Total Debt has been broadly flat over 3 years (1.5% a year).

🔴 Free Cash Flow has turned negative, from ₹6 Cr to -₹3 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹595 Cr

Total Liabilities

₹27 Cr

Cash & Equivalents

₹2 Cr

Operating Cash Flow

-₹2 Cr

Capex

-₹1 Cr

Shareholding (proxy)

Institutional Holding

21.9%

Insider Holding

60.9%

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

2 mixed4 general

Supreme Holdings Reg 74(5) Certificate Q2 FY27 Filing

Kalkine India, 14 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Supreme Holdings and Hospitality India Share: Bull Case vs Bear Case for 2026

Univest, 25 Sept

Supreme Holdings & Hospitality (India) Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 29 Aug

Supreme Holdings & Hospitality (SUPREME.NS) Eases 0.68% to ₹31.99, Holding Above ₹30.39 Support - Entry Point Alerts

siam.in, 20 Sept

Supreme Holdings & Hospitality (India) (BSE:530677) - Stock Analysis

Simply Wall Street, 26 Mar

Sumitomo-backed Yes Bank faces up to ₹5,200 crore earnings hit as SC upholds squashing of its AT-1 bonds write-off

Livemint, 18 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

MiddlingBusiness Quality · Financial Health · Profitability

WeakGrowth · Valuation · 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. 1 high-severity red flag sits above this conclusion and should be read first.

4 of 5 tripwires tripped — Debt / EBITDA falls below 3x; Free cash flow remains positive; ROCE stays above 8%; Valuation vs its own median of 31.8x · see Key things to watch ↑