CCHHL - Country Club Hos
📢 Recent Corporate Announcements
Country Club Hospitality & Holidays Limited (CCHHL) reported a 39% year-on-year increase in consolidated revenue from operations, reaching ₹15.88 crore for the quarter ended December 31, 2025. However, the company's consolidated net loss widened to ₹1.31 crore from a loss of ₹1.12 crore in the corresponding quarter of the previous year. On a nine-month basis, the company showed significant recovery, with revenue nearly doubling to ₹59.99 crore and net losses narrowing substantially from ₹4.70 crore to ₹0.82 crore. The Real Estate segment provided a profitable cushion, while the core Hotel & Membership segment continued to report losses.
- Consolidated Revenue from Operations increased 39% YoY to ₹1,588.24 Lakhs.
- Consolidated Net Loss for Q3 FY26 stood at ₹131.12 Lakhs compared to ₹112.23 Lakhs in Q3 FY25.
- Nine-month consolidated revenue jumped to ₹5,998.92 Lakhs from ₹3,318.48 Lakhs in the previous year period.
- Real Estate segment reported a profit of ₹260.30 Lakhs, while Hotel & Membership segment lost ₹293.78 Lakhs in Q3.
- Finance costs saw a sharp decline to ₹5.04 Lakhs in Q3 FY26 from ₹48.47 Lakhs in Q3 FY25.
Country Club Hospitality & Holidays Limited (CCHHL) reported a 39% year-on-year increase in consolidated revenue from operations to ₹15.88 crore for the quarter ended December 31, 2025. Despite the revenue growth, the company's consolidated net loss widened to ₹1.31 crore from a loss of ₹1.12 crore in the same period last year. The results highlight a divergence in segment performance, where the Real Estate division turned a profit of ₹2.60 crore, but the core Hotel & Membership segment suffered a loss of ₹2.94 crore. A notable positive was the sharp reduction in finance costs, which fell to ₹5.04 lakhs from ₹48.47 lakhs YoY.
- Consolidated Revenue from Operations grew 39% YoY to ₹1,588.24 Lakhs.
- Consolidated Net Loss widened to ₹131.12 Lakhs compared to ₹112.23 Lakhs in Q3 FY25.
- Hotel & Membership segment reported a loss of ₹293.78 Lakhs on revenue of ₹1,176.40 Lakhs.
- Real Estate segment contributed a profit of ₹260.30 Lakhs on revenue of ₹529.75 Lakhs.
- Finance costs significantly decreased to ₹5.04 Lakhs from ₹48.47 Lakhs in the previous year's quarter.
Country Club Hospitality & Holidays Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Aarthi Consultants Private Limited, confirms compliance for the quarter ending December 31, 2025. It verifies that share certificates received for dematerialization were processed within the mandated 15-day timeframe. This is a standard administrative filing ensuring that physical shares are correctly converted to electronic form and listed on exchanges.
- Compliance confirmed for the period from October 1, 2025, to December 31, 2025
- Dematerialization requests processed within the statutory 15-day limit by the Registrar
- Physical certificates were mutilated, cancelled, and the depository name was substituted in records
- Registrar Aarthi Consultants Private Limited (SEBI Regn. No. INR000000379) issued the certificate
Financial Performance
Revenue Growth by Segment
Revenue from operations was INR 45.98 Cr in FY25, representing a 12.2% decline from INR 52.36 Cr in FY24. Other income grew 39.4% to INR 22.54 Cr from INR 16.17 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company originated in South India and operates 223 clubs across India and global affiliations.
Profitability Margins
Net margin was -3.7% in FY25 (loss of INR 1.70 Cr) compared to -2.3% in FY24 (loss of INR 1.22 Cr). Profitability is pressured by high operating costs and impairment losses.
EBITDA Margin
EBITDA margin improved to 26.9% in FY25 from 23.7% in FY24, driven by a 20.3% reduction in employee benefit expenses (INR 13.80 Cr vs INR 17.31 Cr).
Capital Expenditure
Capital expenditure on property, plant, and equipment was INR 9.22 Cr in FY25, a significant reduction from INR 35.49 Cr in FY24.
Credit Rating & Borrowing
ICRA has classified the company under the 'non-cooperation' category. Debt was restructured in 2016, reducing principal repayment obligations from INR 72.51 Cr to INR 30.57 Cr over two years.
Operational Drivers
Raw Materials
Food and materials (17.7% of revenue from operations) and construction materials for flat sales (4.2% of revenue from operations).
Capacity Expansion
Current capacity includes 51 properties (33 owned, 16 associated, 2 leased) and 223 clubs. No specific expansion timeline for new properties was provided.
Raw Material Costs
Cost of materials consumed was INR 8.16 Cr in FY25, down 18.9% from INR 10.06 Cr in FY24. Construction material costs were INR 1.93 Cr.
Strategic Growth
Growth Strategy
The company aims to leverage its position as India's largest family club chain (223 clubs) and its 4.37 lakh membership base. Growth is driven by new membership additions, which contribute 72% of operating income, and expanding global vacation affiliations.
Products & Services
Family clubbing facilities, timeshare vacations, fitness centers, and holiday services.
Brand Portfolio
Country Club, Country Vacations, Amrutha Estates.
Market Expansion
Focus on making clubbing accessible to the upwardly mobile population in India through a network of 223 clubs.
Market Share & Ranking
Largest chain of family clubs in India.
Strategic Alliances
Affiliation with RCI providing members access to 3,900 resorts worldwide.
External Factors
Industry Trends
The hospitality sector is shifting toward affordable, family-centric clubbing. CCHHL is positioned as a market leader but faces disruption risks due to high debt and a reliance on new member sales over renewals (renewals at ~35%).
Competitive Landscape
Competes in the fragmented Indian hospitality and timeshare market against both organized and unorganized players.
Competitive Moat
Moat is built on a massive network of 223 clubs and 4.37 lakh members, creating high switching costs and network effects. However, sustainability is threatened by financial non-cooperation and persistent net losses.
Macro Economic Sensitivity
Highly sensitive to discretionary spending and interest rates. Finance costs decreased 49.2% to INR 1.91 Cr in FY25, reflecting debt reduction or rate changes.
Consumer Behavior
Increasing demand for affordable leisure and clubbing facilities among the upwardly mobile Indian population.
Regulatory & Governance
Industry Regulations
Complies with Ind AS 34, SEBI (LODR) Regulations 2015, and the Companies Act 2013.
Taxation Policy Impact
The company recorded a deferred tax expense of INR 0.63 Cr in FY25.
Legal Contingencies
Auditors highlighted an 'Emphasis of Matter' regarding investments in subsidiary companies being carried at historical cost rather than fair value, which could impact asset valuation.
Risk Analysis
Key Uncertainties
Ability to service debt obligations in a timely manner and high reliance on new membership additions (72% of income) for cash flow.
Geographic Concentration Risk
Significant presence in South India where operations originated under Amrutha Estates.
Third Party Dependencies
High dependency on RCI for international resort access and 16 associated properties for domestic capacity.
Credit & Counterparty Risk
Trade receivables are minimal, but the company faces credit risk from its own lenders due to its 'non-cooperation' rating status.