Graviss Hospitality Ltd (509546)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Graviss Hospitality's revenue was ₹13.8 Cr (+18.0% year on year, -31.1% on the previous quarter), and net profit ₹-1.5 Cr (a smaller loss than a year earlier); the operating margin was 0.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹13.8 | +18.0% | -31.1% |
| Operating profit | ₹0.0 | from loss | -99.1% |
| Net profit | ₹-1.5 | loss narrowed | loss widened |
| EPS (₹) | -0.22 | loss narrowed | loss widened |
| Operating margin | 0.3% | — | — |
📢 Recent Corporate Announcements
Graviss Hospitality Ltd has issued the notice for its 65th Annual General Meeting (AGM), scheduled to take place on Wednesday, September 23, 2026, at 12:30 p.m. IST via Video Conferencing. The key agenda items include the adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026, along with reports of the Directors and Auditors. Additionally, shareholders will vote on the re-appointment of Managing Director Gaurav Ghai, who retires by rotation. This is a standard statutory disclosure with no unexpected corporate actions.
- 65th Annual General Meeting to be held on September 23, 2026, at 12:30 p.m. IST via Video Conferencing
- Adoption of Audited Standalone and Consolidated Financial Statements for FY26
- Re-appointment of Managing Director Mr. Gaurav Ghai (DIN: 00074857), who retires by rotation
Graviss Hospitality Limited has submitted its Annual Report for FY2025-26 pursuant to Regulation 34 of SEBI LODR. The 65th Annual General Meeting (AGM) is scheduled to be held on Wednesday, September 23, 2026, via video conferencing. The company highlighted ongoing operations at its flagship InterContinental Marine Drive property and strategic expansion efforts at The Mansion House (TMH), Alibaug. Total managerial remuneration for the year increased to Rs 314.23 lacs compared to Rs 233.79 lacs in FY25.
- 65th Annual General Meeting scheduled for September 23, 2026 at 12:30 PM IST via video conference
- Managerial remuneration paid to directors and KMP rose to Rs 314.23 lacs in FY26 from Rs 233.79 lacs in FY25
- Mr. Ravi Ghai ceased as Chairman & Non-Executive Director w.e.f. May 22, 2026; Mr. Amrit Mirpuri appointed w.e.f. June 1, 2026
- Statutory auditor payments stood at Rs 18.22 lacs for FY26 compared to Rs 13.39 lacs in FY25
Graviss Hospitality Limited has announced that its 65th Annual General Meeting (AGM) will be held on Wednesday, September 23, 2026, at 12:30 PM IST via Video Conferencing/OAVM. Pursuant to Section 91 of the Companies Act, 2013, the Register of Members and Share Transfer Books will remain closed from September 17, 2026, to September 23, 2026 (both days inclusive). This is a routine administrative compliance filing ahead of the annual shareholder meeting.
- 65th Annual General Meeting scheduled for Wednesday, September 23, 2026, at 12:30 PM IST
- AGM to be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- Book closure period set from September 17, 2026, to September 23, 2026 (both days inclusive)
Graviss Hospitality reported its Q1 FY27 results, highlighted by a significant 'Emphasis of Matter' from auditors regarding its three subsidiaries: Graviss Catering, Graviss Hotels and Resorts, and Graviss Restaurants. As of June 30, 2026, all three entities have accumulated losses exceeding their net worth. Management is currently exploring alternate business plans and maintains that no diminution in investment value is required, despite the subsidiaries' financial distress. This follows a challenging FY26 where the company posted a consolidated net loss of Rs 0.65 Cr.
- Auditor flagged that 3 subsidiaries have accumulated losses exceeding their total net worth as of June 30, 2026.
- Subsidiaries impacted include Graviss Catering, Graviss Hotels and Resorts, and the newly incorporated Graviss Restaurants.
- Management continues to treat loans to these subsidiaries as 'good for recovery' despite the net worth erosion.
- Promoter holding remains stable at 74.91%, providing some structural support during the turnaround phase.
- The company is banking on a new restaurant vertical and catering orders to drive future revenue growth.
Graviss Hospitality's Q1 FY27 (June 2026) results were accompanied by an auditor's 'Emphasis of Matter' regarding the financial health of its subsidiaries. All three major subsidiaries—Graviss Catering, Graviss Hotels and Resorts, and Graviss Restaurants—have accumulated losses that exceed their net worth. Management has opted not to provide for any diminution in the value of investments or loans to these units, banking on future orders and new business strategies. This is significant given the company's small scale (TTM revenue of Rs 63 Cr) and marginal profitability (TTM PAT of Rs -1 Cr).
- 3 subsidiaries (Catering, Hotels & Resorts, Restaurants) have accumulated losses exceeding their net worth as of June 30, 2026
- Management maintains no diminution in investment value despite negative net worth in subsidiaries, citing 'alternate business plans'
- Promoter holding remains stable and high at 74.91% as of June 2026
- Company operates with a low ROCE of 1.1% and a TTM revenue of Rs 63 Cr
- Loans given to subsidiaries are considered 'good of recovery' by management despite their financial position
Graviss Hospitality Ltd has scheduled a board meeting on August 11, 2026, to approve its standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently coming off a TTM loss of Rs 1 Cr on revenue of Rs 63 Cr. Investors will be monitoring if the recent expansion into the restaurant vertical has started contributing positively to the bottom line. The trading window for insiders has been closed since July 1, 2026, in anticipation of these results.
- Board meeting scheduled for August 11, 2026, to approve Q1 FY27 results
- Trading window closed since July 1, 2026, for all designated persons
- Company reported a marginal net loss of Rs 0.14 Cr in the preceding quarter (March 2026)
- TTM revenue stands at Rs 63 Cr with an operating profit margin of 12.5%
- Promoter holding remains stable at 74.91% as of June 2026
Financial Performance
Revenue Growth by Segment
Total revenue from operations grew by 12.94% YoY, increasing from INR 5,414.08 lacs in FY24 to INR 6,114.85 lacs in FY25. The growth is driven by the hospitality business, including the addition of Graviss Restaurants Private Limited as a subsidiary from April 1, 2024.
Geographic Revenue Split
The group operates primarily in India, with its registered office in Satara, Maharashtra. Specific regional percentage splits within India were not disclosed in the available documents.
Profitability Margins
Net profit before tax margin declined from 6.98% in FY24 to 3.50% in FY25, as profit fell 43.37% to INR 213.88 lacs. However, Total Comprehensive Income margin improved from 5.47% to 14.88% due to a significant reduction in deferred tax liabilities which fell from INR 1,658.93 lacs to INR 906.64 lacs.
EBITDA Margin
Operating profit before working capital changes was INR 675.56 lacs in FY25, representing an EBITDA-like margin of 11.05%, a slight decrease from 12.80% (INR 693.06 lacs) in FY24 due to higher consumption costs.
Capital Expenditure
Property, plant, and equipment (PPE) increased by INR 714.98 lacs, reaching INR 18,926.45 lacs in FY25 compared to INR 18,211.47 lacs in FY24, indicating ongoing investment in hotel and restaurant infrastructure.
Credit Rating & Borrowing
CRISIL previously assigned an A-/Stable rating, which was withdrawn in 2014 following full repayment of loans. As of March 31, 2025, total liabilities from financing activities stood at INR 548.07 lacs, with long-term borrowings increasing 441% YoY to INR 431.81 lacs.
Operational Drivers
Raw Materials
Food and Beverages consumed (INR 729.91 lacs), representing 11.94% of total revenue and 16.5% of total expenses.
Import Sources
Not specifically disclosed, though procurement is primarily domestic for hospitality operations in Maharashtra.
Capacity Expansion
The group expanded its operational footprint by incorporating Graviss Restaurants Private Limited as a 100% subsidiary effective April 1, 2024.
Raw Material Costs
Food and Beverage costs increased by 20.67% YoY (from INR 604.86 lacs to INR 729.91 lacs), outpacing revenue growth of 12.94%, which suggests inflationary pressure on kitchen supplies.
Manufacturing Efficiency
Not applicable as a service-based hospitality entity; efficiency is measured by the 11.05% operating profit margin before working capital changes.
Logistics & Distribution
Not disclosed; hospitality services are consumed on-site at hotels and restaurants.
Strategic Growth
Expected Growth Rate
13%
Growth Strategy
Growth is targeted through the expansion of the restaurant vertical (Graviss Restaurants) and catering services. The group is leveraging its 100% ownership of Graviss Catering and Graviss Hotels & Resorts to provide integrated hospitality solutions. Revenue growth of 12.94% in FY25 demonstrates the initial impact of this multi-channel strategy.
Products & Services
Hotel room stays, banquet hall rentals, event catering services, and restaurant dining services.
Brand Portfolio
Graviss, Graviss Hospitality.
New Products/Services
The launch of new restaurant outlets under Graviss Restaurants Private Limited is expected to be a primary revenue driver in FY26.
Market Expansion
Expansion is focused on the Indian hospitality market, specifically strengthening the banquet and catering presence in Maharashtra.
Strategic Alliances
The group operates through three wholly-owned subsidiaries: Graviss Catering, Graviss Hotels & Resorts, and Graviss Restaurants.
External Factors
Industry Trends
The industry is shifting toward integrated hospitality models combining lodging with specialized catering and branded restaurant experiences. Graviss is positioning itself by consolidating these three pillars under separate subsidiaries.
Competitive Landscape
Competes with local and national hotel chains and independent restaurant groups in the Maharashtra region.
Competitive Moat
The company has a long-standing presence since 1959, providing a brand legacy moat. However, the hospitality sector is highly competitive with low switching costs for consumers.
Macro Economic Sensitivity
Highly sensitive to domestic tourism trends and consumer discretionary spending in India; hospitality demand correlates with GDP growth and urban consumption.
Consumer Behavior
Increasing demand for branded dining and professional catering for events, which the group is addressing through its new restaurant subsidiary.
Geopolitical Risks
Low direct impact as operations are domestic, though global travel sentiment affects the broader Indian hospitality industry.
Regulatory & Governance
Industry Regulations
Subject to FSSAI norms for food safety and local municipal licenses for hotel operations. The group faced a technical non-compliance regarding the 'audit trail' (edit log) feature in its accounting software for hotel and banquet divisions for part of the year (until May 9, 2024).
Taxation Policy Impact
The group recognized a significant deferred tax credit in FY25, reducing deferred tax liabilities by INR 752.29 lacs, which boosted total comprehensive income.
Legal Contingencies
The group has pending litigations disclosed in Note 38 of the financial statements, which may impact the financial position depending on court outcomes.
Risk Analysis
Key Uncertainties
Inflation in food and beverage costs (20.67% increase) poses a risk to operating margins. Internal control weaknesses related to audit trail features in accounting software represent a governance risk.
Geographic Concentration Risk
High concentration in India, specifically Maharashtra, making the group vulnerable to regional economic or regulatory changes.
Third Party Dependencies
Dependent on third-party software providers for accounting and hotel management systems, as evidenced by the audit trail issues.
Technology Obsolescence Risk
The transition to accounting software with mandatory audit trail features is ongoing; failure to maintain updated systems could lead to regulatory non-compliance.
Credit & Counterparty Risk
Trade receivables stood at INR 163.66 lacs in FY25, down from INR 184.39 lacs, indicating improved collection efficiency.
