Key Metrics of Fleur Hotels Limited
About Fleur Hotels Limited
Sectors
Company details
- Registered office
- Lemon Tree Hotel, Urban, Complex, Ullahawas, Sector-60, Gurgaon, Gurgaon, Gurgaon, In-hr, 122011
Operational Areas of Fleur Hotels Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
NoteRating watch (ICRA, 17 Aug 2026)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 17 Aug 2026 | ICRA | Watch | A+ | A1 | Developing | ₹635 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Well-recognised brands and geographically diversified product portfolio
LTHL is among India’s largest hotel chains, with 135 operational properties in more than 80 locations as on June 30, 2026.
+ Strong managerial, financial and operational support from parent, LTHL
As on date, LTHL holds a 59% stake in FHL while the remaining is held by Coastal Cedar Investment B.V., an affiliate of Warburg Pincus, a US-based private equity.
Credit challenges
− Exposed to industry cyclicality, general economic slowdown, and exogenous shocks
Given the discretionary nature of consumer spending, the Indian hospitality industry is susceptible to macroeconomic conditions, tourist movement and several exogenous factors, leading to inherent cyclicality.
− Moderate debt coverage metrices and return on capital employed; gradual improvement expected, aided by healthy underlying demand
The company’s debt levels (excluding lease liabilities) reduced to Rs. 1,310 crore as on March 31, 2026 (Rs. 1,543 crore as on March 31, 2024).
Could lead to an upgrade
The ratings will be removed from watch once there is greater clarity around how the entity’s overall financial leverage will evolve over the medium term. A sustained track record of healthy revenue growth and profitability leading to a material improvement in leverage and coverage metrics would be favourably considered for upward movement in the ratings in the interim.
Could lead to a downgrade
The ratings will be removed from watch once there is greater clarity around how the entity’s overall financial leverage will evolve over the medium term. A material demand slowdown or any significant debt-funded capex plan, leading to a material weakness in the capital structure and coverage indicators, could exert pressure on the ratings.
Agency-reported financials (ICRA, 17 Aug 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹912 Cr | ₹1,009 Cr |
| PAT | ₹113 Cr | ₹149 Cr |
| OPBDIT/OI | 44.2% | 43.6% |
| PAT/OI | 12.4% | 14.8% |
| Total outside liabilities/Tangible net worth (times) | 1.10× | 1.00× |
| Total debt/OPBDIT (times) | 4.30× | 3.70× |
| Interest coverage (times) | 2.40× | 3.00× |
| Revenue growth (YoY) | — | 10.7% |
| EBITDA (margin × income) | ₹403 Cr | ₹440 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹1,732 Cr | ₹1,628 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹168 Cr | ₹147 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based – Term Continues on loans | Working capital & bank lines | ₹495 Cr | ₹472 Cr | −4.6% | A+ | Watch | ICRA |
| Long-term – Non-fund based Continues on (Bank Guarantee) | Non-fund based limits | ₹10.0 Cr | ₹10.0 Cr | 0.0% | A+ | Watch | ICRA |
| Short-term – Non-fund based Continues on (Letter of Credit) | Non-fund based limits | ₹1.00 Cr | ₹1.00 Cr | 0.0% | A1 | Watch | ICRA |
| Short-term – Fund-based Continues on (Overdraft limits) Long-term/Short-term | Working capital & bank lines | ₹10.0 Cr | ₹10.0 Cr | 0.0% | A1 | Watch | ICRA |
| Continues on implications continues on Unallocated limits | Other | ₹119 Cr | ₹141 Cr | 19.1% | A+ / A1 | Watch | ICRA |
Credit assessment · Hotels
Rating Methodology – Hotel Industry (Feb 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 56% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating A+ (investment grade)
- Interest coverage 3×
- ₹141.29 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
The reduction in debt was led by a scheduled repayment of its term debt obligations.
From the report
Liquidity position: Adequate Fleur’s liquidity is expected to remain adequate, supported by healthy net cash accruals, free cash and liquid investments of ~Rs. 123 crore and undrawn working capital limits of Rs. 35 -40 crore as of March 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Fleur Hotels Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Indian Hotels Company (Taj) |
Hotels & Resorts · Restaurants, Hotels & Travel | ihcltata.com | — | India |
 ITC Hotels |
Hotels & Resorts · Restaurants, Hotels & Travel | itchotels.com | 1975 | Kolkata, India |
| Hotels & Resorts · Restaurants, Hotels & Travel | oberoihotels.com | — | India | |
| Chalet Hotels Limited | · Trading | — | — | Mumbai, Maharashtra, India |
 Leela Palaces Hotels & Resorts Limited |
Hotels & Resorts · Trading | theleela.com | — | New Delhi, Delhi, India |
 Lemon Tree Hotels Limited |
Hotels & Resorts · Restaurants, Hotels & Travel | lemontreehotels.com | 2002 | Gurgaon, Haryana, India |
| Samhi Hotels Limited | · Trading | — | — | Delhi, India |
| Apeejay Surrendra Park Hotels Limited | · Community, personal and Social Services | — | — | Kolkata, West Bengal, India |
| Taj GVK Hotels And Resorts Limited | · Electricity, Gas and Water companies | — | — | Hyderabad, Telangana, India |
| Hotels & Resorts · Restaurants, Hotels & Travel | royalorchidhotels.com | — | Bangalore, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.