About HS India
HS India is a publicly listed company based in Mumbai (India) founded in 1989. Hotels and restaurants under various brands are operated in India. The company has 144 employees. Its Indian entity H S India Limited reported revenue of ₹26.59 Cr. Its focus areas include Travel and Hospitality and Hotels.
Company details
HS India was incorporated in 1989 as Hotel Silver Plaza Private Limited and renamed in 2001. The company, part of the Bansal group within the Karishma group, functions in the hospitality sector. A three-star hotel under the Lords Plaza brand is managed in Surat, Gujarat. Exploration of information technology applications in hospitality and tourism is being pursued. Operations are based in Mumbai, India.
- Headquarters Mumbai, India
- Employees 144
- Stage Public
- SectorsTravel & Hospitality
- Email••••••••
- Website hsindia.in
- Social LinkedIn
- Legal Name H.S. India Ltd.
- Market Cap₹17.46 Cr
HOTLSILV · BSE
- Share Price₹10.88
+1.21% today
- Revenue₹26.09 Cr
FY 2025-26 · -3.1% YoY
- EBITDA₹3.70 Cr
Margin 14.2%
- Net Profit₹1.62 Cr
FY 2025-26 · +14.9% YoY
- P/E (TTM)9.7x
P/B 0.5x
- ROE5.0%
ROCE 7.0%
- Debt / Equity0.44
Interest cover 41.8x
- Latest Funding Round$600K (USD), Post-IPO
Oct 2009
- Employee Count144
Associated legal entities of HS India
HS India operates through H S India Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| H S India Limited Listed CIN L55100MH1989PLC053417 | Active | 12 Sep 1989 | Mumbai, Maharashtra | ₹26.6 Cr | 154 | 8 | View details |
Funding Insights of HS India
- Total Rounds 1
- Last Round Post-IPO — $600,000
- First Round $600,000
(Oct 2009)
All 1 funding rounds of HS India with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2009 | $600,000 | Post-IPO | – | – | – |
Board of directors of H S India Limited (HS India)
H S India Limited is the primary company behind HS India. The board of H S India Limited currently have 6 directors; the longest-serving is Ramesh Radheyshyam Bansal, appointed in 2005. 14 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ramesh Radheyshyam Bansal DIN 00086256 | Managing Director | 29 Sep 2005 | 21 yrs | H S India Limited |
| Sangita Pushpendra Bansal DIN 01571275 | Director | 11 Sep 2014 | 12 yrs 1 mo | H S India Limited |
| Pushpendra Radheshyam Bansal DIN 00086343 | Managing Director | 31 May 2019 | 7 yrs 4 mo | H S India Limited |
| Ghanshyam Parasram Mistry DIN 09559172 | Director | 07 Sep 2022 | 4 yrs 1 mo | H S India Limited |
| Adityabhai Jagdishbhai Joshi DIN 07718831 | Director | 07 Sep 2022 | 4 yrs 1 mo | H S India Limited |
| Mehul Narendrakumar Hingu DIN 10404685 | Director | 11 Sep 2024 | 2 yrs 1 mo | H S India Limited |
IPO & Listings of HS India
HS India is a publicly listed company on the BSE with ticker symbol HOTLSILV in India, operating in the Consumer services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date23 Apr 1997
- Listed onBSE: 532145
- Listed entityH.S. India Ltd.
- Exchange sectorConsumer services
- ISININE731B01010
- Share price₹11.20 · 2026-10-14
- Market capitalisation₹18.2 Cr
- Price to earnings10.1
- EPS (diluted, trailing year)₹1.10
- Volume (last session)219
Financials of HS India
Exchange-reported figures of H S India Limited, the listed company behind HS India (BSE: HOTLSILV).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 26.09 | 26.92 | 25.59 | 23.95 | 18.01 | 10.28 | 25.91 |
| Revenue growth | -3.1% | +5.2% | +6.9% | +33.0% | +75.2% | -60.3% | - |
| EBITDA | 3.70 | 3.99 | 3.79 | 3.68 | 3.67 | 1.35 | 4.74 |
| EBITDA margin | +14.2% | +14.8% | +14.8% | +15.4% | +20.4% | +13.1% | +18.3% |
| Profit before tax | 2.14 | 1.89 | 1.64 | 1.29 | 1.22 | (1.52) | 1.35 |
| Net profit | 1.62 | 1.41 | 1.35 | 1.04 | 1.09 | (1.43) | 1.26 |
| Net profit margin | +6.2% | +5.2% | +5.3% | +4.3% | +6.1% | -13.9% | +4.9% |
| EPS (₹) | 1.00 | 0.87 | 0.82 | 0.64 | 0.67 | (0.88) | 0.78 |
| Balance sheet | |||||||
| Total assets | 46.02 | 48.24 | 49.87 | 50.30 | 51.91 | 46.95 | 44.92 |
| Net worth | 33.52 | 31.90 | 30.61 | 29.31 | 28.22 | 27.08 | 28.47 |
| Total debt | 12.43 | 16.27 | 19.19 | 20.92 | 23.62 | 19.77 | 16.31 |
| Cash & bank | 5.09 | 5.72 | 8.66 | 9.47 | 11.62 | 6.43 | 3.92 |
| Net working capital | 32.86 | 34.48 | 35.74 | 35.47 | 36.52 | 30.79 | 27.42 |
| Cash flow | |||||||
| Cash from operations | 4.61 | 2.00 | 3.07 | 2.98 | 3.64 | 0.49 | 2.67 |
| Cash from investing | (0.21) | (0.71) | (0.24) | (0.48) | (0.26) | 0.00 | (0.08) |
| Cash from financing | (5.02) | (4.24) | (3.63) | (4.65) | 1.81 | 2.02 | (1.85) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.42 | 7.26 | 7.09 | 5.81 | 5.93 | 7.32 | 7.23 | 6.18 |
| Revenue growth (YoY) | +42.0% | -0.8% | -1.9% | -6.0% | -4.2% | - | - | - |
| Other income | 0.08 | 0.16 | 0.09 | 0.09 | 0.16 | 0.16 | 0.10 | (0.04) |
| Total expenses | 7.57 | 5.91 | 5.86 | 5.20 | 5.42 | 6.25 | 5.85 | 5.20 |
| EBITDA | 0.85 | 1.35 | 1.23 | 0.61 | 0.51 | 1.07 | 1.38 | 0.98 |
| EBITDA margin | +10.1% | +18.6% | +17.3% | +10.5% | +8.6% | +14.6% | +19.1% | +15.9% |
| Depreciation | 0.21 | 0.25 | 0.21 | 0.21 | 0.21 | 0.24 | 0.22 | 0.22 |
| Interest | 0.23 | 0.25 | 0.28 | 0.30 | 0.35 | 0.38 | 0.39 | 0.40 |
| Profit before tax | 0.49 | 1.01 | 0.83 | 0.19 | 0.11 | 0.61 | 0.87 | 0.32 |
| Tax | 0.20 | 0.24 | 0.20 | 0.08 | 0.00 | 0.17 | 0.15 | 0.17 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.42 | 7.26 | 7.09 | 5.81 | 5.93 | 7.32 | 7.23 | 6.18 |
| Revenue growth (YoY) | +42.0% | -0.8% | -1.9% | -6.0% | -4.2% | - | - | - |
| Other income | 0.08 | 0.16 | 0.09 | 0.09 | 0.16 | 0.16 | 0.10 | (0.04) |
| Total expenses | 7.57 | 5.91 | 5.86 | 5.20 | 5.42 | 6.25 | 5.85 | 5.20 |
| EBITDA | 0.85 | 1.35 | 1.23 | 0.61 | 0.51 | 1.07 | 1.38 | 0.98 |
| EBITDA margin | +10.1% | +18.6% | +17.3% | +10.5% | +8.6% | +14.6% | +19.1% | +15.9% |
| Depreciation | 0.21 | 0.25 | 0.21 | 0.21 | 0.21 | 0.24 | 0.22 | 0.22 |
| Interest | 0.23 | 0.25 | 0.28 | 0.30 | 0.35 | 0.38 | 0.39 | 0.40 |
| Profit before tax | 0.49 | 1.01 | 0.83 | 0.19 | 0.11 | 0.61 | 0.87 | 0.32 |
| Tax | 0.20 | 0.24 | 0.20 | 0.08 | 0.00 | 0.17 | 0.15 | 0.17 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 26.09 | 26.92 | 25.59 | 23.95 | 18.01 | 10.28 | 25.91 |
| Revenue growth | -3.1% | +5.2% | +6.9% | +33.0% | +75.2% | -60.3% | - |
| Other income | 0.50 | 0.36 | 0.78 | 0.67 | 0.51 | 0.22 | 0.41 |
| Total expenses | 22.39 | 22.93 | 21.80 | 20.27 | 14.34 | 8.93 | 21.17 |
| Employee cost | 6.21 | 5.74 | 5.00 | 4.48 | 2.97 | 1.63 | 4.66 |
| EBITDA | 3.70 | 3.99 | 3.79 | 3.68 | 3.67 | 1.35 | 4.74 |
| EBITDA margin | +14.2% | +14.8% | +14.8% | +15.4% | +20.4% | +13.1% | +18.3% |
| Depreciation | 0.88 | 0.90 | 1.12 | 1.12 | 1.11 | 1.36 | 1.60 |
| Interest | 1.18 | 1.56 | 1.81 | 1.94 | 1.85 | 1.73 | 2.20 |
| Profit before tax | 2.14 | 1.89 | 1.64 | 1.29 | 1.22 | (1.52) | 1.35 |
| Tax | 0.52 | 0.48 | 0.30 | 0.25 | 0.13 | (0.09) | 0.09 |
| Net profit | 1.62 | 1.41 | 1.35 | 1.04 | 1.09 | (1.43) | 1.26 |
| Net profit margin | +6.2% | +5.2% | +5.3% | +4.3% | +6.1% | -13.9% | +4.9% |
| EPS (₹) | 1.00 | 0.87 | 0.82 | 0.64 | 0.67 | (0.88) | 0.78 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 16.24 | 16.24 | 16.24 | 16.24 | 16.24 | 16.24 | 16.24 |
| Reserves & surplus | 17.28 | 15.66 | 14.37 | 13.07 | 11.98 | 10.84 | 12.23 |
| Shareholders' funds (net worth) | 33.52 | 31.90 | 30.61 | 29.31 | 28.22 | 27.08 | 28.47 |
| Secured loans | 12.43 | 16.27 | 19.19 | 20.92 | 23.62 | 19.77 | 16.31 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total debt | 12.43 | 16.27 | 19.19 | 20.92 | 23.62 | 19.77 | 16.31 |
| Total liabilities | 46.02 | 48.24 | 49.87 | 50.30 | 51.91 | 46.95 | 44.92 |
| Assets | |||||||
| Gross block | 40.40 | 40.19 | 39.34 | 39.17 | 38.81 | 38.55 | 38.55 |
| Net block | 9.91 | 10.58 | 10.59 | 11.54 | 12.30 | 13.14 | 14.51 |
| Capital work in progress | 0.00 | 0.00 | 0.18 | 0.12 | 0.00 | 0.00 | 0.00 |
| Investments | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 |
| Inventories | 0.97 | 0.93 | 0.79 | 0.86 | 0.71 | 0.66 | 0.63 |
| Sundry debtors | 2.46 | 2.36 | 2.32 | 2.64 | 2.59 | 2.24 | 2.47 |
| Cash & bank balances | 5.09 | 5.72 | 8.66 | 9.47 | 11.62 | 6.43 | 3.92 |
| Loans & advances | 26.37 | 27.17 | 26.03 | 24.24 | 23.40 | 23.48 | 22.82 |
| Total current assets | 34.89 | 36.18 | 37.80 | 37.21 | 38.32 | 32.81 | 29.84 |
| Total current liabilities | 2.03 | 1.70 | 2.06 | 1.74 | 1.80 | 2.02 | 2.42 |
| Net working capital | 32.86 | 34.48 | 35.74 | 35.47 | 36.52 | 30.79 | 27.42 |
| Total assets | 46.02 | 48.24 | 49.87 | 50.30 | 51.91 | 46.95 | 44.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 5.72 | 8.66 | 9.47 | 11.62 | 6.43 | 3.92 | 3.18 |
| Net cash from operating activities | 4.61 | 2.00 | 3.07 | 2.98 | 3.64 | 0.49 | 2.67 |
| Net cash from investing activities | (0.21) | (0.71) | (0.24) | (0.48) | (0.26) | 0.00 | (0.08) |
| Net cash from financing activities | (5.02) | (4.24) | (3.63) | (4.65) | 1.81 | 2.02 | (1.85) |
| Net change in cash | (0.63) | (2.95) | (0.80) | (2.15) | 5.19 | 2.51 | 0.74 |
| Closing cash | 5.09 | 5.72 | 8.66 | 9.47 | 11.62 | 6.43 | 3.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -3.1% | +5.2% | +6.9% | +33.0% | +75.2% | -60.3% | - |
| EBITDA growth | -7.3% | +5.3% | +3.0% | +0.3% | +171.9% | -71.5% | - |
| PBT growth | +13.2% | +15.2% | +27.1% | +5.7% | +9998.0% | - | -46.2% |
| Net income growth | +14.9% | +4.4% | +29.8% | -4.6% | +176.2% | -213.5% | - |
| Revenue CAGR (3Y) | +2.9% | +14.3% | +35.5% | -2.6% | -14.6% | -27.4% | +4.4% |
| EBITDA CAGR (3Y) | +0.2% | +2.8% | +41.1% | -8.1% | -13.5% | -38.1% | -10.0% |
| Profitability & leverage | |||||||
| Net income margin | +6.2% | +5.2% | +5.2% | +4.3% | +6.1% | -13.9% | +4.9% |
| Return on capital employed | +7.0% | +7.0% | +6.9% | +6.3% | +6.2% | +0.4% | +7.8% |
| Return on net worth | +5.0% | +4.5% | +4.4% | +3.6% | +3.9% | -5.2% | +4.3% |
| Debt / equity | 0.44 | 0.57 | 0.67 | 0.77 | 0.78 | 0.65 | 0.55 |
| Long-term debt / equity | 0.33 | 0.43 | 0.54 | 0.69 | 0.74 | 0.61 | 0.45 |
| Interest cover | 41.84 | 50.49 | 67.79 | 75.78 | 72.27 | -17,300.00 | 70.06 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.65 | 0.68 | 0.65 | 0.61 | 0.47 | 0.27 | 0.67 |
| Inventory turnover | 27.46 | 31.30 | 31.02 | 30.51 | 26.29 | 15.94 | 38.10 |
| Debtors turnover | 10.83 | 11.50 | 10.32 | 9.16 | 7.46 | 4.37 | 10.71 |
| EPS (₹) | 1.00 | 0.87 | 0.82 | 0.64 | 0.67 | (0.88) | 0.78 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 20.64 | 19.64 | 18.85 | 18.05 | 17.38 | 16.68 | 17.53 |
Timeline of HS India
3 dated milestones of HS India across 20 years, from founding to its latest funding, stage changes and deals.
- Founded HS India is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $600K.
Web traffic of HS India
The website of HS India (hsindia.in) receives about 1.2K visits a month.
- Monthly visits1.2K
▼ 33.5% vs previous month
Top companies in Hotels
3 companies that operate in the same segment as HS India (Hotels) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
A chain of hotels and resorts is operated. | 2002 | Delhi, Delhi, India | USD 128.72 M | USD 151.13 M | 8,560 | |
Mid-market hotel chain is operated in 29 Indian cities. | 2003 | Mumbai, Maharashtra, India | USD 76.27 M | USD 43.67 M | 1,083 | |
Online hotel booking platform | 2014 | Gurugram, Haryana, India | USD 71.89 M | USD 27.76 M | 541 |
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Frequently Asked Questions about HS India
HS India was founded in 1989 and raised its 1st funding round 20 years after it was founded.
HS India is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
HS India has 144 employees.
The primary company behind HS India, H S India Limited, reported revenue of ₹26.59 Cr for FY 2026, down 3% year on year.
HS India was incorporated in 1989 as Hotel Silver Plaza Private Limited and renamed in 2001. The company, part of the Bansal group within the Karishma group, functions in the hospitality sector. A three-star hotel under the Lords Plaza brand is managed in Surat, Gujarat. Exploration of information technology applications in hospitality and tourism is being pursued. Operations are based in Mumbai, India.
Yes, HS India is publicly traded on BSE under the ticker symbol HOTLSILV.
HS India operates through H S India Limited.
The legal entities of HS India currently have 7 directors, including Sangita Pushpendra Bansal, Pushpendra Radheshyam Bansal, Hitesh Gopalbhai Limbani and others.