1. At a Glance – When Laundry Gets Listed
Le Lavoir Ltd is a ₹119 Cr market-cap company doing ₹2.65 Cr annual revenue, trading at a P/E of ~69, with 57.7% operating margins, 3.76% promoter holding, and a business history that reads like a confused LinkedIn bio.
In the latest quarter (Dec 2025), the company clocked ₹3.50 Cr revenue and ₹0.70 Cr PAT, implying that one good quarter alone is bigger than last year’s full revenue. Yes, you read that right.
Stock price? ₹246, down 9% in 3 months, -23% in 1 year, but still up 106% over 3 years. Clearly, this stock doesn’t believe in straight lines — it prefers spirals.
This is a company that was once trading sarees, bullion, and securities… and is now washing hotel bedsheets for Marriott and Hilton. Add convertible warrants worth ~₹50 Cr, multiple food business acquisitions, and ultra-low promoter skin, and you have the perfect smallcap cocktail.
So the big question:
Is this a hidden scalable services story… or just a very clean balance sheet hiding a very messy strategy?
Let’s unfold the bedsheet.
2. Introduction – From Sarees to Spin Cycles
Le Lavoir Ltd was incorporated in 1981, which technically makes it older than most Indian unicorns — but maturity is optional in corporate India.
For most of its life, the company was Radhey Trade Holding Ltd, dabbling in:
- Consumer & household goods
- Saree trading (plain, designer, silk — the full wedding season portfolio)
- Investments in shares, debentures, gold, bullion
Then somewhere along the way, management woke up and said:
“Why not laundry?”
Fast forward to FY25–FY26, and Le Lavoir now positions itself as an outsourced institutional laundry services provider, mainly servicing hotels via in-house and outsourced models.
Sounds boring? Good.
Boring businesses often make money — if done at scale.
But here’s the twist:
This “laundry company” has:
- Acquired food businesses
- Issued convertible warrants
- Signed MoUs, share swaps, preferential allotments
- Changed CFOs, CS, statutory auditors, and secretarial
- auditors in rapid succession
This is not your average dhobi ghat story.
This is a corporate identity crisis wearing a freshly ironed suit.
3. Business Model – WTF Do They Even Do?
Core Business: Institutional Laundry Services
Le Lavoir’s primary business today is laundry services for hotels, offered through:
- In-hotel laundry units
- Outsourced commercial laundry setups
The model is simple:
- Hotels don’t want to manage washing machines, manpower, chemicals, and compliance
- Le Lavoir steps in, installs infrastructure, runs operations, and charges per kg / contract
Clients include:
- Marriott (Mumbai)
- Hilton Garden Inn
- Sahara Hospitality
In April 2025, the company announced its first in-hotel laundry unit at Marriott Mumbai, followed by a ₹100 Cr expansion plan across 11 cities.
(Yes, ₹100 Cr ambition on a ₹119 Cr market cap. Confidence is not in short supply.)
Revenue Mix (FY22)
- Sale of Services: ~76%
- Other Income: ~24%
That “other income” is not small. It matters. We’ll come back to it.
Side Quests (Because Why Not)
Despite branding itself as a laundry pure-play, Le Lavoir has:
- Acquired 51% of Shree Vrajendra Foods
- Acquired 64.5% of Ghantiram Foods
- Planned ₹10 Cr capex in food staples
- Signed MoUs to acquire Tech Riser
So yes — your laundry operator is also flirting with food, tech, and trading.
Focused? No.
Entertaining? Absolutely.
4. Financials Overview – The One-Quarter Wonder
Quarterly Comparison Table (₹ Cr)
