Stock Price Movement and Market Context
On 13 Mar 2026, Apeejay Surrendra Park Hotels Ltd’s share price touched an intraday low of Rs.112, representing a 3.49% drop for the day and a 3.27% decline compared to the previous close. This new low also stands as the company’s all-time lowest price point. The stock underperformed its sector, which itself declined by 2.65%, and lagged behind the broader market where the Nifty index closed at 23,151.10, down 2.06% or 488.05 points.
The Hotels, Resorts & Restaurants sector has been under pressure, with multiple indices including NIFTY MEDIA, NIFTY REALTY, and S&P Bse Dollex 30 also hitting 52-week lows on the same day. Apeejay Surrendra Park Hotels Ltd’s stock is trading below all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a sustained bearish trend.
Comparative Performance and Valuation Metrics
Over the past year, the stock has delivered a negative return of 21.28%, significantly underperforming the Sensex, which posted a modest gain of 1.00% over the same period. The 52-week high for the stock was Rs.173.15, highlighting the extent of the decline from its peak.
Despite the price drop, the company’s profits have shown an 8.3% increase over the last year. However, the price-to-earnings-growth (PEG) ratio stands at 3.6, indicating that the stock’s valuation may not be fully aligned with its earnings growth trajectory. The company’s return on capital employed (ROCE) is 9.9%, while the enterprise value to capital employed ratio is 1.7, suggesting a relatively expensive valuation compared to its capital base.
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Financial Performance and Profitability Trends
The company’s net sales have grown at an annual rate of 10.79% over the past five years, while operating profit has increased at a slower pace of 7.74% annually. However, recent quarterly results have shown a decline in profitability, with the latest six-month profit after tax (PAT) at Rs.41.29 crores, reflecting a contraction of 29.90% compared to previous periods.
Interest expenses have surged sharply, with quarterly interest costs rising by 120.74% to Rs.10.11 crores. This has resulted in a reduced operating profit to interest coverage ratio of 6.99 times, the lowest recorded for the company, indicating tighter margins for servicing debt despite a relatively low debt to EBITDA ratio of 0.75 times.
Technical Indicators and Market Sentiment
Technical analysis presents a predominantly bearish outlook. The Moving Average Convergence Divergence (MACD) indicator is bearish on the weekly timeframe, while the monthly MACD remains neutral. The Relative Strength Index (RSI) shows no clear signal on either weekly or monthly charts. Bollinger Bands indicate bearish trends on both weekly and monthly scales, and the daily moving averages confirm a bearish stance.
Additional technical tools such as the Know Sure Thing (KST) indicator and Dow Theory also reflect bearish signals on the weekly timeframe, with monthly Dow Theory confirming the same. The On-Balance Volume (OBV) indicator is mildly bearish weekly but shows no distinct trend monthly, suggesting subdued trading momentum.
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Sector and Market Influences
The Hotels & Resorts sector has experienced a broad decline, with the sector index falling by 2.65% on the day Apeejay Surrendra Park Hotels Ltd hit its 52-week low. This sector-wide weakness has compounded the stock’s downward momentum. Additionally, the Nifty Midcap 100 index, which includes many small and mid-sized companies, declined by 2.65%, exerting further pressure on small-cap stocks such as Apeejay Surrendra Park Hotels Ltd.
While the Nifty index is trading below its 50-day moving average, the 50-day average remains above the 200-day moving average, indicating that the broader market is in a phase of correction but has not yet entered a prolonged downtrend.
Long-Term and Recent Performance Overview
Over the last three years, Apeejay Surrendra Park Hotels Ltd has underperformed the BSE500 index across multiple timeframes including one year and three months. This underperformance reflects challenges in sustaining growth and profitability relative to the broader market and its peers.
Despite a strong ability to service debt, as evidenced by a low debt to EBITDA ratio of 0.75 times, the company’s valuation and earnings growth metrics suggest cautious sentiment among market participants.
Summary of Ratings and Market Position
MarketsMOJO assigns Apeejay Surrendra Park Hotels Ltd a Mojo Score of 23.0, categorising it with a Strong Sell grade as of 21 Jul 2025, an upgrade from the previous Sell rating. The company is classified as a small-cap within the Hotels & Resorts sector, reflecting its market capitalisation and relative size in the industry.
The downgrade in sentiment is consistent with the stock’s recent price action and financial performance, underscoring the challenges faced by the company in the current market environment.
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