CHL Limited is a specialized hospitality enterprise listed in India, focused on the ownership and operation of premium luxury hotel assets. The company operates under a **single reportable segment: Hospitality/Hotel Business**, with a strategic footprint spanning the National Capital Region (NCR) of India and the capital of Tajikistan. --- ### **Core Asset Portfolio: Domestic and International** CHL Limited maintains a high-value asset base characterized by prime locations and international brand associations. #### **1. Hotel The Suryaa (New Delhi, India)** The company’s flagship domestic asset is **Hotel The Suryaa**, a **5-Star Deluxe Hotel** located in New Friends Colony, South Delhi. It is a landmark property positioned **20 minutes** from Connaught Place and **40 minutes** from the domestic airport. **Accommodation Inventory:** | Room Category | Capacity | | :--- | :--- | | **Deluxe Rooms** | **160** | | **Club Rooms** | **70** | | **Deluxe Suites** | **6** | | **Luxury Suites** | **3** | | **Disabled-Accessible Rooms** | **5** | | **Total Inventory** | **244 Rooms** | **Food, Beverage & Wellness Facilities:** * **Sampan:** A **100-cover** authentic Cantonese and Pan-Asian restaurant featuring a panoramic rooftop view. * **Ssence:** A **138-cover** multi-cuisine restaurant providing all-day dining (**6:00 AM to 1:00 AM**). * **Atrium Lounge Bar:** A **64-cover** facility offering premium liquors and spirits. * **Club One:** A comprehensive fitness center including an **Ayurvedic Treatment Center**, spa, physical therapy, and cardiopulmonary rehabilitation. #### **2. Hilton Dushanbe (Tajikistan)** Through its subsidiary, **CJSC CHL International**, the company owns a **Five-Star Hotel** in Dushanbe, Tajikistan. * **Branding:** The property operates under the global **'Hilton'** brand. * **Logistics:** To enhance the guest experience for high-net-worth individuals, the company recently paid an interest-free security deposit of **₹244 lac** for a **Wet Lease of a Helicopter** to ferry guests to and from the Dushanbe property. --- ### **Operational Performance & Revenue Drivers** The company has capitalized on the post-pandemic recovery in the hospitality sector, demonstrating significant pricing power and improved occupancy. * **Average Daily Rate (ADR):** Increased from **₹6,704** to **₹7,616** in **FY24**, representing a **YoY growth of 13.6%**. * **Occupancy:** Standalone average room occupancy rose to **85.60%** in **FY25**, up from **81.12%** in **FY24**. * **Revenue Streams:** Income is diversified across room sales, food and beverages, allied services, and license fees from on-site offices, shops, and business centers. * **Foreign Exchange:** The company reported foreign exchange earnings of **₹1,233.29 Lacs** in the most recent period. --- ### **Financial Trajectory: Standalone vs. Consolidated** CHL Limited exhibits a "tale of two balance sheets," where a highly profitable and deleveraged domestic operation supports a challenged international subsidiary. #### **Standalone Financial Highlights** The standalone entity has shown consistent growth in revenue and profitability while aggressively reducing debt. | Metric (Rs. in Lacs) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Gross Revenue** | **11,134.38** | **9,336.16** | **8,300.34** | | **Profit Before Tax** | **3,436.57** | **2,841.01** | **2,349.23** | | **Net Profit (PAT)** | **2,492.56** | **2,107.63** | **1,870.48** | | **Total Comprehensive Income** | **2,475.01** | **2,107.57** | **1,847.08** | #### **Capital Structure & Liquidity** The standalone entity maintains a robust liquidity position with a **Current Ratio of 3.91**. | Metric (Standalone) | 31-03-2025 | 31-03-2024 | 31-03-2023 | | :--- | :--- | :--- | :--- | | **Total Debt (Lacs)** | **24.50** | **252.89** | **1,614.76** | | **Equity (Lacs)** | **17,936.18** | **15,400.71** | **13,241.23** | | **Gearing Ratio** | **0.14%** | **1.62%** | **10.87%** | #### **Subsidiary Performance (CJSC CHL International)** The Tajikistan subsidiary remains a drag on consolidated financials. For the period ending Dec 31, 2024, it reported a **Net Loss of Rs. 2,355.65 Lacs** on revenue of **Rs. 3,306.97 Lacs**. CHL Limited supports this subsidiary through interest-bearing loans totaling **Rs. 1,381.39 Lacs** (as of March 2025). --- ### **Strategic Deleveraging & Debt Resolution** The central pillar of CHL’s current strategy is the resolution of legacy debt associated with the Tajikistan project. * **The EXIM Bank Settlement:** The company is pursuing a **One-Time Settlement (OTS)** with the **Export-Import Bank of India** to resolve a **USD 32.50 million** term loan (plus interest) for which CHL Limited is the **Corporate Guarantor**. * **Settlement Terms:** An OTS executed in **late 2023** crystallized the subsidiary's liability at **USD 34 million**. As of **January 2024**, an offer was submitted to EXIM Bank for this amount as a full and final resolution. * **Recent Payments:** The company recently paid **Rs. 832 Lacs** to EXIM Bank as part of this ongoing settlement process. * **Inter-corporate Limits:** Shareholders have authorized the Board to provide loans or guarantees to subsidiaries up to a limit of **₹300 Crores** to facilitate this restructuring. --- ### **Risk Management & Legal Landscape** CHL Limited operates under a formal risk management framework overseen by the Audit Committee, focusing on significant legal contingencies and financial risks. #### **1. Major Litigation** | Matter | Status / Details | | :--- | :--- | | **EXIM Bank Claim (DRT)** | A claim for **USD 44,611,207** is pending before the **Debt Recovery Tribunal (DRT-III)**, New Delhi. | | **Insolvency Appeal** | A Civil Appeal by EXIM Bank is pending before the **Supreme Court of India** regarding previous insolvency proceedings (IBC Section 7). | | **Property Tax Dispute** | Resolved via **Delhi High Court**; the company paid **₹1,062.16 lac** in **FY2025-26** under an amnesty scheme (non-recurring expense). | #### **2. Financial Risk Controls** * **Credit Risk:** Managed through individual risk limits. **Walk-in customers** are strictly "no credit." As of March 2025, trade receivables were **Rs. 329.44 Lacs**, with **93%** aged under 6 months. * **Liquidity Risk:** The Board monitors contractual undiscounted cash flows and maintains banking facilities to ensure liabilities are met. * **Foreign Exchange Risk:** While fluctuations in the **Tajikistani Somoni** impact **Other Comprehensive Income**, management reports **nil net impact** on actual cash flows currently. #### **3. Operational Safeguards** * **Capital Commitments:** As of **May 2025**, the estimated amount of contracts remaining to be executed on capital account stood at **₹141.51 lacs**. * **Provisions:** The company maintains **Long Term Provisions** for employee benefits (Gratuity/Leave) valued at **Rs. 143.41 Lacs**. * **Asset Protection:** All physical assets are covered by **comprehensive insurance** and subject to periodic **safety audits**.