ORAVEL STAYS LIMITED

ORAVEL STAYS LIMITED

About Oravel Stays Limited (OYO / PRISM)

Oravel Stays Limited is the parent company of OYO, rebranded as PRISM in September 2025. Founded by Ritesh Agarwal, it operates an asset-light travel technology platform — a single booking system, pricing engine and app stack layered over hotels and homes it largely does not own.

The group runs four verticals across 35+ countries: G6 Hospitality (1,571 Motel 6 and Studio 6 properties in the US, acquired in December 2024), hotels (22,769 storefronts under OYO, Townhouse, Palette and Sunday), homes (138,250 European and Australian vacation rentals under Belvilla, DanCenter and CheckMyGuest), and a listings subscription business. Most contracts are now management agreements where the property owner supplies the capital, replacing the minimum-guarantee model that drove OYO's earlier losses.

In FY26, revenue from operations rose 49.7% to ₹9,358 crore and gross booking value rose 88.5% to ₹30,683 crore. EBITDA margin improved from 17.3% to 27.7%, and operating cash flow jumped from ₹321 crore to ₹2,511 crore. Reported profit after tax was ₹994 crore — though profit before tax was ₹399 crore, with the difference coming from a one-time ₹595 crore deferred tax credit. The company carries ₹7,810 crore of borrowings, largely a USD 830 million term loan raised for the G6 acquisition.

Oravel Stays filed an Updated DRHP with SEBI on 29 June 2026 for a fresh issue of up to ₹6,650 crore, and has in-principle listing approval from BSE and NSE. Until then, OYO shares trade in the unlisted market.

 

Pros

  • Steady Profit Growth: EBITDA steadily increasing, expected to reach $135 million in FY25, driven by cost-cutting and better management.
  • Growing Travel Demand: Increased hotel occupancy rates (70% in FY24) benefiting from the bounce-back of the travel industry.
  • Cost Efficiency: Effective reduction in staff and marketing expenses boosting profitability.

Cons

  • Debt Challenges: Lack of secured funding for refinancing in the next 12-18 months could lead to financial strain.
  • Risk of Losing Market Share: Competition and failure to meet growth targets could impact market position and profitability.
 

Fundamentals

Share NameParticulars
ORAVEL STAYS LIMITED20.5   
Shares PricePer Equity Share
Minimum Lot SizeShares Worth Rs. 20000
DepositoryNSDL & CDSL
PAN NumberAABCO6063D
ISIN NumberINE561T01021
CINU63090GJ2012PLC107088
FundamentalsValue
Market Cap (in cr.)18559.33   
P/E Ratio30.15   
P/B Ratio2.7   
Debt to Equity1.35   
ROE (%)17.17   
Book Value7.6   
EPS0.68   
Face Value1   
Total Shares9053330000   
 

Financials

P&L Statement2026202520242023
Revenue9357.98   6252.83   5388.79   5463.95   
Cost of Material Consumed3658.19   000
Gross Profit Margins60.91%   100.00%   100.00%   100.00%   
EBITDA2509.63   1036.03   707.17   -373.89   
EBITDA Margins26.82%   16.57%   13.12%   -6.84%   
EBIT1437.74   625.5   659.62   -516.41   
EBIT Margins15.36%   10.00%   12.24%   -9.45%   
PBT398.93   -500.67   225.68   -1303.4   
PAT994.18   246.73   219.53   -1171.86   
NPM10.62%   3.95%   4.07%   -21.45%   
EPS0.68   0.39   1.63   -8.82   
Cash Flow Statement2026202520242023
Cash from Operating Activity2511.21   321.25   598.23   141.84   
Cash from Investing Activity-1374.92   -4212.14   1424.9   -108.83   
Cash from Financing Activity-866.52   4159.84   -2413.19   -704.72   
Net Cash Flow269.77   268.95   -390.06   -671.71   
Assets2026202520242023
Fixed Assets127.43   13247.56   4439.87   4100.42   
CWIP13.8   31.22   1.11   0
Investments845.6   282.6   159.53   162.37   
Trade Receivables663.88   487.78   202.95   158.27   
Inventory0000
Other Assets18369.2   2646.16   1640.02   3511.37   
Total Assets20019.9   16695.32   6443.47   7932.43   
 

Peer Comparison

CompanyMarket Cap (cr.)Revenue (cr.)P/EP/BROE (%)
ORAVEL STAYS LIMITED18559.33   9357.98   30.15   2.7   17%   
BHARAT HOTELS LIMITED2697.69   880   31.72   2.83   11%   
 

Promoters or Management

NameDesignation
Abhishek GuptaCFO
Aditya GhoshExecutive Director
Ritesh AgarwalChairman & CEO
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