Company Overview

Graviss Hospitality Limited (CIN: L55101PN1959PLC012761) is a hospitality company incorporated in 1959 with shares listed on BSE Limited (Scrip Code: 509546). The company operates hotels under the InterContinental brand at Marine Drive, Mumbai and The Mansion House at Alibaug.

Financial Performance Summary

Standalone Results:

  • Revenue from Operations: ₹612.79 lakhs (FY26) vs ₹564.28 lakhs (FY25) - 7.47% increase
  • Profit After Tax: ₹324.44 lakhs (FY26) vs ₹1,192.19 lakhs (FY25)
  • The decrease in PAT was primarily due to a one-time deferred tax credit from rule changes in FY25

Consolidated Results:

  • Revenue from Operations: ₹6,310.68 lakhs (FY26) vs ₹6,114.85 lakhs (FY25)
  • Net Loss: ₹63.38 lakhs (FY26) vs Net Profit of ₹939.93 lakhs (FY25)
  • Earnings per share: Negative ₹0.09 (FY25: ₹1.33)
  • Finance costs: ₹77.17 lakhs (FY25: ₹76.97 lakhs)

Subsidiary Performance and Acquisition

The company has three wholly-owned subsidiaries with accumulated losses. Graviss Hotels & Resorts Limited reported losses of ₹154.80 lakhs, Graviss Catering Private Limited showed minimal profit of ₹0.04 lakhs, and Graviss Restaurants Private Limited reported losses of ₹235.28 lakhs.

The company acquired 100% shares of Graviss Restaurants Private Limited (GRPL) on April 1, 2024, for cash consideration of ₹1.00 lakh, recognizing goodwill of ₹414.24 lakhs. Despite accumulated losses in subsidiaries, management believes there is no diminution in investment value.

Board and Management Changes

Board Composition as of March 31, 2026:

  • Mr. Ravi Ghai: Chairman – Non-Executive, Non-Independent Director (ceased w.e.f May 22, 2026)
  • Mr. Gaurav Ghai: Managing Director
  • Mr. Romil Ratra: Chief Executive Officer & Whole-Time Director
  • Mrs. Usha Chandani: Non-Executive and Independent Director
  • Mr. Krishnakant Minawala: Non-Executive and Independent Director
  • Mr. Bhavnesh Sawhney: Non-Executive and Independent Director
  • Mr. Amrit Mirpuri: Non-Executive, Non-Independent Director (appointed w.e.f June 01, 2026)

Mr. Ravi Ghai ceased as Director effective May 22, 2026 pursuant to Section 167(1)(b) of Companies Act, 2013 due to absence from all board meetings for twelve months.

Annual General Meeting

65th AGM Details:

  • Date: Wednesday, September 23, 2026
  • Time: 12:30 PM IST
  • Mode: Virtual through video conferencing/audio visual means
  • Business Items: Adoption of financial statements and re-appointment of Mr. Gaurav Ghai as Managing Director

Contingent Liabilities and Tax Matters

  • GST demand for 2018-19: ₹181.47 lakhs (pending before First Appellate Authority)
  • VAT demand for 2010-11: ₹48.69 lakhs (under dispute)
  • Bank guarantees: ₹7.00 lakhs

The company has unrecognized deferred tax assets on unabsorbed depreciation and business losses, which are expected to be adjusted against future taxable profits.

Key Ratios and Position

Standalone Key Ratios:

  • Current Ratio: 1.06 (FY26) vs 1.19 (FY25)
  • Debt Equity Ratio: 0.011 (FY26) vs 0.0097 (FY25)
  • Return on Equity: 1.51% (FY26) vs 5.76% (FY25)

Balance Sheet Position:

  • Total Assets: ₹24,568.53 lakhs (standalone)
  • Property, Plant & Equipment: ₹19,422.45 lakhs (consolidated net block)
  • Cash and cash equivalents: ₹210.56 lakhs (consolidated)
  • Borrowings: ₹600.96 lakhs (consolidated, including current and non-current)

Corporate Governance and Compliance

  • Compliance with SEBI Listing Regulations and Companies Act, 2013
  • No dividend recommended for FY26 to conserve resources
  • No material orders from regulators/courts affecting going concern status
  • Prepared in accordance with Indian Accounting Standards (Ind AS)
  • All independent directors submitted declarations of independence

Forward Outlook

The company remains optimistic about growth prospects in the Indian hospitality industry, citing robust domestic travel, increasing business activity, and government initiatives promoting tourism. Focus areas include enhancing guest experiences, strengthening digital platforms, and adopting sustainable practices.