CCHHL - Country Club Hos

📊 NSE: CCHHL 🏢 Hotels 📅 Last Updated: 12/13/2025 21:12

💰 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.

Manufacturing Efficiency

Not applicable as a service-based hospitality company.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

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.