Sayaji Hotels (Indore) Limited reported a 24.9% year-on-year decline in net profit after tax (PAT) to ₹800.73 lakh for the financial year ended March 31, 2026 (FY26), compared to ₹1,057.11 lakh in FY25. Despite the profit contraction, revenue from operations edged up by 0.8% to ₹10,655.37 lakh from ₹10,567.72 lakh in the previous year. The decline in profitability was primarily driven by increased employee benefit expenses, higher operating costs, and a one-time exceptional item of ₹125 lakh related to the settlement of solar power dues. Shareholders will vote on these results and key strategic resolutions at the 8th Annual General Meeting (AGM) on August 21, 2026.

The Board of Directors has recommended a special resolution to increase the company’s maximum borrowing limit to ₹250 crore under Section 180(1)(c) of the Companies Act, 2013. This facility is intended to finance business expansion, capital expenditure, and working capital requirements, particularly for the upcoming Altara hospitality destination on the Indore Bypass. The resolution supersedes all earlier borrowing limits approved by members. Additionally, shareholders will vote on the re-appointment of Managing Director Raoof Razak Dhanani and the appointment of Mohammed Yusuf Abdul Razak Dhanani as a Non-Executive Non-Independent Director.

Financial Performance Breakdown

Revenue from rooms rose by 13.9% to ₹4,470.42 lakh, offsetting a 9.6% decline in food and beverage sales, which fell to ₹5,102.19 lakh from ₹5,646.00 lakh. Other services revenue increased by 8.5% to ₹1,082.76 lakh. Total operating expenses surged to ₹9,553.95 lakh from ₹9,270.99 lakh in FY25, with employee benefits rising 9.1% to ₹2,722.62 lakh. Finance costs remained relatively stable at ₹606.03 lakh. The effective tax rate improved to 23.85% from 21.25% in the prior year.

*EBITDA calculated as Profit before Depreciation, Finance Costs, Exceptional Items, and Tax Expense.

Strategic Developments and Governance

The company is advancing its growth strategy through the development of Altara, envisioned as a contemporary hospitality landmark catering to business travelers, leisure guests, and social events. Management emphasized digital transformation, including AI and predictive analytics, to enhance guest experiences and operational efficiency. The Board also appointed M/s DMJ & Partners as Secretarial Auditor for five consecutive years, replacing Mr. Anuj Nema who resigned due to professional commitments.

Remote e-voting for the AGM is available from August 18 to August 20, 2026, via Central Depository Services (India) Limited. The cut-off date for voting eligibility is August 14, 2026. The meeting will be held through Video Conferencing or Other Audio-Visual Means, with the deemed venue at the registered office in Indore.

What the Numbers Show

The significant increase in total assets to ₹22,545.63 lakh from ₹13,492.35 lakh highlights aggressive capital investment, primarily in Capital Work-In-Progress (CWIP), which jumped to ₹11,165.56 lakh from ₹3,981.14 lakh. This surge reflects heavy spending on the Amber hotel project. However, this leverage has resulted in a debt-equity ratio deterioration to 1.55 from 0.47 in FY25. While revenue growth remained positive, the margin compression indicates that current operational efficiencies are being outweighed by the costs of expansion and inflationary pressures on inputs like food and labor. The one-time solar dues settlement further impacted bottom-line visibility, suggesting that future profitability will depend heavily on the successful commissioning and occupancy rates of new assets like Altara.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0MGS01014/506cdd58-c5c3-490a-8f2e-f3bee06a992e.pdf

Sayaji Hotels (Indore) Limited has accepted the resignation of Aaditya Kasera as its Company Secretary and Compliance Officer, effective August 29, 2026. The company disclosed the personnel change in a filing with the Bombay Stock Exchange (BSE) on July 30, 2026, confirming that Kasera will step down to pursue other career opportunities and professional growth.

The resignation was formally tendered by Kasera via a letter dated July 29, 2026. In his notice, Kasera confirmed that there are no material reasons for his resignation beyond those stated. He expressed gratitude to the Board of Directors and colleagues for their support during his tenure. The company’s Managing Director, Raooof Razak Dhanani, signed the disclosure submitted to the exchange.

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also referenced SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Pursuant to sub-para 7C of Para A of Part A of Schedule III of the SEBI Listing Regulations, the company enclosed Kasera’s resignation letter detailing the reasons for his exit.

Resignation Details

Kasera’s departure marks a change in the company’s compliance leadership. The filing did not disclose any immediate successor or interim arrangement for the role. The company is headquartered in Indore, Madhya Pradesh, and operates under the CIN L55209MP2018PLC076125.