HLV LIMITED (HLVLTD) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of HLV LIMITED ₹4.05, price ₹6.06, upside -33.2%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
HLV Limited engages in owning, operating, and managing hotels, palaces, and resorts in India. It owns and operates The Leela Mumbai hotel. The company was formerly known as Hotel Leelaventure Limited and changed its name to HLV Limited in December 2019. HLV Limited was incorporated in 1981 and is based in Mumbai, India.
Stock analysis
HLV LIMITED (HLVLTD) currently trades at ₹6.06, while our model-based Fair Value estimate is ₹4.05, 33.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹5.86 per share, and 2 of the 20 models we run sit above the ₹6.06 price.
Bear case: the Growth Earnings group reads lowest at ₹0.5100, and 18 of the 20 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
HLV LIMITED reported revenue of ₹2.0B in FY2026 versus ₹730M in FY2022, a compound +28.8%/yr. Reported net income was ₹20.8M in FY2026.
Key figures
Market cap ₹4.2B (≈ $43.4M) · P/E ratio 86.6 · P/S ratio 0.90 · EPS (TTM) ₹0.0700 · Net margin 1.0% · Return on equity 0.9% · Return on assets (EBIT) 3.0% · Operating margin −7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 48% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −28% fair-value upside, at −33%, HLVLTD screens richer than that median.
Fair Value models
Bear ₹4.05Fair Value ₹4.05Bull ₹4.05
Price ₹6.06 · Upside -33.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0368 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF₹5.09₹6.95₹9.8081
Growth DCF₹5.11₹6.91₹9.6179
5Y EBITDA Exit₹4.22₹5.43₹6.8477
All 20 models by family
DCF Models
FCF DCF₹5.09₹6.95₹9.8081
5Y Revenue Exit₹4.44₹5.85₹7.6774
5Y EBITDA Exit₹4.22₹5.43₹6.8477
5Y P/E Exit₹3.39₹3.82₹4.2672
10Y Revenue Exit₹4.58₹5.93₹7.7968
10Y EBITDA Exit₹4.51₹5.64₹7.1670
10Y P/E Exit₹3.98₹4.53₹5.1765
Earnings-Based
Graham-Dodd₹0.2100₹0.7700₹1.0464
Lynch FV₹0.1800₹0.2600₹0.340061
PEG = 1.0₹0.1800₹0.2600₹0.340057
Multiples
P/E Multiple₹0.5200₹0.6900₹0.870063
P/S Multiple₹0.4000₹0.5400₹0.670058
P/B Multiple₹0.4000₹0.5400₹0.670055
EV/EBITDA₹3.94₹4.59₹5.2467
EV/Revenue₹4.16₹5.09₹6.0254
Asset-Based
NCAV (Graham)₹3.57₹4.79₹7.1454
Growth DCF
Growth DCF₹5.11₹6.91₹9.6179
Rev-Margin DCF₹4.44₹5.86₹7.5674
Economic Profit
Residual Income₹4.72₹4.29₹4.0771
Growth Earnings
Growth-Adj P/E₹0.3600₹0.5100₹0.670067
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−60.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−60.4%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−246% → −3%
⚠ Revenue per share shrinking 14.3%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +6.8% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Lodging · 156 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−33.2% · Below median
Profitability
Return on equity (TTM)0.9% · Below median
Return on assets0.3% · Bottom 25%
Net margin (TTM)2.3% · Below median
Operating margin (TTM)−7.3% · Bottom 25%
Growth and dividend
Revenue growth14.6% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Lodging median · lower = cheaper
P/E (TTM)86.6× · Priciest 25%
P/B0.89× · Cheaper than median
P/S (TTM)2.03× · Pricier than median
P/FCF26.7× · Pricier than median
EV/EBITDA15.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 21
FUTURE (revenue growth)73· sector 32
PAST (return on equity)4· sector 16
HEALTH (low debt)100· sector 89
DIVIDEND (yield)0· sector 33
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "HLV LIMITED Fair Value". https://www.fairvalue-calculator.com/stock/HLVLTD
Frequently asked questions
Is HLV LIMITED (HLVLTD) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹4.05 versus a price of ₹6.06, about −33% upside (overvalued).
What is the fair value of HLVLTD?
Our model-based fair value for HLV LIMITED is ₹4.05 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹6.06.
What is the quality score of HLVLTD?
HLV LIMITED has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for HLV LIMITED (HLVLTD)?
Our model-based price target is the fair value of ₹4.05 (as of Oct 2, 2026) from 20 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the HLV LIMITED stock forecast for 2026?
Our models put fair value at ₹4.05, about −33% upside versus a price of ₹6.06 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of HLV LIMITED (HLVLTD)?
HLV LIMITED reported trailing-twelve-month revenue of about ₹2.1B (latest available figure, as of Oct 2, 2026).
What growth is priced into HLV LIMITED (HLVLTD)?
For today's price to be fair in a discounted-cash-flow model, HLV LIMITED would have to grow free cash flow by +11.2 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +60.4 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of HLVLTD use?
Our models discount HLV LIMITED at 10.9 %: a base by market capitalisation (nano), damped by beta 0.51, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For HLV LIMITED that is +11.2 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has HLV LIMITED (HLVLTD) delivered so far?
Over the past 5 years revenue at HLV LIMITED grew +60.4 % a year. The price currently implies +11.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of HLV LIMITED (HLVLTD) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into HLV LIMITED (+11.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of HLV LIMITED (HLVLTD)?
The free-cash-flow yield on the price is 3.74 %: that much free cash flow HLV LIMITED produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HLV LIMITED (HLVLTD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HLV LIMITED it is ₹4.05 per share (as of Oct 2, 2026), against a price of ₹6.06. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is HLV LIMITED stock overvalued or undervalued in 2026?
As of Oct 2, 2026, HLVLTD trades above its calculated fair value: price ₹6.06, fair value ₹4.05, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HLVLTD?
No. The price is what the market pays today (₹6.06); the fair value is what the company's own numbers justify (₹4.05). For HLV LIMITED the two are ₹2.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is HLV LIMITED worth?
The market values HLV LIMITED at about ₹4.2B (market capitalisation, as of Oct 2, 2026). Per share that is ₹6.06; our models calculate a fair value of ₹4.05 per share.
What is the P/E ratio of HLVLTD?
HLV LIMITED trades at a price-to-earnings ratio of 86.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹4.05 is built from several models across several years. Other multiples: P/B 0.9, P/S 2.0, EV/EBITDA 15.2.
How solid is the balance sheet of HLV LIMITED (HLVLTD)?
Balance-sheet figures for HLV LIMITED (as of Oct 2, 2026): return on equity 0.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is HLVLTD from its 52-week high?
HLV LIMITED trades at ₹6.06, about 48% below its 52-week high of ₹11.60 and 6% above the low of ₹5.72 (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.05 is for.
Which stocks are comparable to HLV LIMITED?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is HLV LIMITED stock attractive at the current price?
The data as of Oct 2, 2026: price ₹6.06, calculated fair value ₹4.05 (−33%), Quality Score 40/100, from 20 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HLVLTD calculated?
We run HLV LIMITED through 20 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹4.05, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. HLV LIMITED itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of HLV LIMITED (HLVLTD)?
The closing price on Oct 8, 2026 was ₹6.06. Our model-based fair value is ₹4.05, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HLV LIMITED right now?
The price sits above even our optimistic bull case (₹4.05). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of HLV LIMITED
How large is the market capitalisation of HLV LIMITED (HLVLTD)?
The market capitalisation of HLV LIMITED is ₹4.2B (≈ $43.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of HLV LIMITED (HLVLTD)?
The price-to-sales ratio of HLV LIMITED is 0.90 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of HLV LIMITED (HLVLTD)?
Earnings per share at HLV LIMITED are ₹0.0700 (price ÷ EPS = P/E 86.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of HLV LIMITED (HLVLTD)?
The net margin of HLV LIMITED is 1.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of HLV LIMITED (HLVLTD)?
The return on equity (ROE) of HLV LIMITED is 0.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of HLV LIMITED (HLVLTD)?
On an EBIT basis the return on assets of HLV LIMITED is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of HLV LIMITED (HLVLTD)?
The operating margin of HLV LIMITED is −7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HLV LIMITED (HLVLTD)?
Revenue at HLV LIMITED is growing +14.6% versus a year earlier (3y avg +5.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at HLV LIMITED (HLVLTD)?
Earnings per share at HLV LIMITED are growing −37.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does HLV LIMITED (HLVLTD) hold?
HLV LIMITED holds more cash than debt, ₹994M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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