Pind HospitalityIPO Review — Financials, Valuation & Peers
A data-only look at the Pind Hospitality IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 20.87 | 2.21 | 3.1 | 9.69 | 26.04 | — | — |
| FY 2025 | 23.17 | 2.56 | 3.69 | 12.25 | 28.33 | — | — |
| FY 2026 | 24.91 | 2.27 | 3.95 | 14.52 | 37.72 | 12.74 | 5.41 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 18.3x
- P/E (post-issue)
- 26.12x
- RoNW
- 15.65%
- RoE
- 15.65%
- RoCE
- 15.83%
- Debt / Equity
- 0.88
- EPS (pre-issue)
- ₹5.41
- EPS (post-issue)
- ₹3.79
- EBITDA Margin
- 16.14%
- PAT Margin
- 9.3%
- P/BV
- 4.29x
- NAV / share
- ₹34.59
- Market Cap
- ₹59.39 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Pind Hospitality | 5.41 | 34.59 | — | 15.65% | — | Consolidated |
| Speciality Restaurants Ltd. | 4.52 | 74.33 | 31.7x | 5.78% | 1.93x | Consolidated |
| United Foodbrands Ltd. | -15.13 | 82.8 | 45.99x | -19.27% | 8.48x | Consolidated |
| Vikram Kamats Hospitality Ltd. | 0.09 | 34.19 | 351.44x | 0.24% | 0.91x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Nimish Parveen Malhotra, Chirag Parveen Malhotra, Anita Malhotra</p>
- Holding (pre-issue)
- 84.72%
- Holding (post-issue)
- 59.31%
- Dilution
- 25.41%
Analysis in brief
Margin and return profile
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Pind Hospitality operates at an EBITDA margin of 16.14% and a net (PAT) margin of 9.3% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 15.83% and a return on equity (RoE) of 15.65%. At the upper band, the post-issue market capitalisation works out to about ₹59.39 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding towards capital expenditure for setting up a hotel-cum-banquet hall in lonavala, maharashtra (haveli project (₹12.7 crore), alongside general corporate purposes (₹2.66 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Pind Hospitality reported revenue of ₹24.91 crore and a net profit of ₹2.27 crore. Revenue grew from ₹20.87 crore in FY2024 to ₹24.91 crore in FY2026 (+19.0%). Net worth stood at ₹14.52 crore at the end of FY2026. At the upper band, that puts the issue at roughly 18.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 26.12× post-issue earnings and 4.29× book value, against a return on net worth of 15.65% and a debt-to-equity ratio of 0.88. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Speciality Restaurants Ltd. and United Foodbrands Ltd., with a median peer P/E of about 46×. The issue's own post-issue P/E works out to 26.12×.
Promoters
The promoters of the company are <p>Nimish Parveen Malhotra, Chirag Parveen Malhotra, Anita Malhotra</p>. Promoter holding stands at 84.72% before the issue and comes down to 59.31% after listing.
Frequently asked questions
- What is the reservation split in the Pind Hospitality IPO?
- Of the total shares offered, retail investors get 49.44%, QIBs 1.05%, non-institutional investors 49.51%.
- Who are the promoters of Pind Hospitality and what is their holding?
- The promoters are <p>Nimish Parveen Malhotra, Chirag Parveen Malhotra, Anita Malhotra</p>. Promoter holding is 84.72% before the issue and 59.31% after listing.
- What is the P/E ratio of the Pind Hospitality IPO?
- At the upper price band, the Pind Hospitality IPO is valued at 18.3× pre-issue earnings and 26.12× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Pind Hospitality IPO?
- The net proceeds go primarily toward funding towards capital expenditure for setting up a hotel-cum-banquet hall in lonavala, maharashtra (haveli project, among 3 disclosed objects.