Stock Performance and Market Context
On 30 March 2026, Apeejay Surrendra Park Hotels Ltd opened with a gap down of -3.33% and closed the day at Rs. 96.90, down -4.95% intraday. This decline extended the stock’s losing streak to two consecutive days, during which it has fallen by -8.54%. The stock’s underperformance was more pronounced than the Hotels, Resorts & Restaurants sector, which itself declined by -2.2%, and the Sensex, which fell by -2.35% on the same day.
Over various time horizons, the stock’s returns have been considerably weaker than the benchmark Sensex. The one-month return stands at -19.25% compared to the Sensex’s -10.45%, while the three-month return is -26.95% versus the Sensex’s -15.14%. The year-to-date performance shows a decline of -27.77%, nearly double the Sensex’s fall of -15.68%. Over the past year, the stock has delivered a return of -33.65%, starkly contrasting with the Sensex’s positive 7.18% gain. Notably, the stock has not generated any returns over the last three and five years, while the Sensex has appreciated by 23.97% and 43.32% respectively over these periods.
Technical Indicators and Trading Activity
The technical outlook for Apeejay Surrendra Park Hotels Ltd remains bearish. The stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum. The overall technical trend shifted to bearish on 4 March 2026 at a price level of Rs. 117. Key resistance levels are identified at Rs. 113.36 (20-day moving average), Rs. 128.65 (100-day moving average), and Rs. 142.13 (200-day moving average), while immediate support is at the 52-week low of Rs. 105.35.
Delivery volumes have surged recently, with a 1-month delivery change of 169.55% and a 1-day delivery change of 82.33% compared to the 5-day average, indicating increased trading activity amid the price decline. The average daily volume over the trailing month was 4.06 lakh shares, up from 1.51 lakh shares in the previous month.
Valuation and Financial Metrics
Despite the share price decline, Apeejay Surrendra Park Hotels Ltd’s valuation metrics suggest a relatively expensive profile. The price-to-earnings (P/E) ratio stands at 27 times trailing twelve months (TTM) earnings, while the price-to-book value (P/BV) is 1.66 times. The enterprise value to EBITDA ratio is 10.53 times, and the enterprise value to capital employed ratio is 1.56 times. The company’s PEG ratio is 3.21, indicating that the stock’s price is high relative to its earnings growth rate.
The dividend yield is modest at 0.49%, with a latest dividend of Rs. 0.5 per share and a payout ratio of 12.56%. The ex-dividend date was 19 September 2025.
Financial Performance and Quality Assessment
Over the past five years, Apeejay Surrendra Park Hotels Ltd has recorded a compound annual growth rate (CAGR) in net sales of 10.79% and operating profit growth of 7.74%. However, recent financial trends have shown some deterioration. The latest six-month profit after tax (PAT) was Rs. 41.29 crores, reflecting a decline of -29.90%. Operating profit to interest coverage ratio for the quarter is at a low of 6.99 times, while interest expenses reached a quarterly high of Rs. 10.11 crores.
The company’s return on capital employed (ROCE) is 9.9%, which is considered modest, and it carries a low debt-to-EBITDA ratio of 0.75 times, indicating a manageable debt burden. The average net debt to equity ratio is 0.17, reflecting low leverage. The tax ratio stands at 38.81%, and the company maintains a dividend payout ratio of 12.56%. Institutional holdings are moderate at 12.81%, and there is no promoter share pledging.
Comparative Performance and Sector Positioning
When compared to its peers, Apeejay Surrendra Park Hotels Ltd is trading at a discount relative to average historical valuations within the Hotels & Resorts sector. Nevertheless, the stock’s long-term performance has been below par. It has underperformed the BSE500 index over the last three years, one year, and three months. The sector itself has experienced a decline of -2.2% on the day the stock hit its all-time low, underscoring the broader pressures within the industry.
The company’s quality assessment rates it as an average quality firm based on long-term financial performance. Management risk and growth are considered average to below average, while capital structure is rated as good. The average EBIT to interest coverage ratio is 4.16 times, which is relatively weak, though the company’s balance sheet remains strong with low debt levels.
Summary of Key Metrics as of 30 March 2026
Price: Rs. 96.90 (All-time low)
Market Cap Grade: Small-cap
Mojo Score: 23.0 (Strong Sell, downgraded from Sell on 21 July 2025)
52-Week Range: Rs. 105.35 (Low) to Rs. 173.15 (High)
Distance from 52-Week High: -44.04%
Distance from 52-Week Low: -8.02%
The stock’s recent performance and valuation metrics reflect a period of subdued growth and market caution. While the company maintains a strong balance sheet with low leverage, its earnings growth and returns have been modest, and the share price has adjusted accordingly to new lows.
