Benares Hotels Ltd

₹ 9,872 -0.23%

02 Jul - close price

About

Incorporated in 1971, Benares Hotels Ltd is in the business of operating hotels^[1]

Key Points

Business Overview:^[1]^[2]
a) BHL is a subsidiary of The Indian Hotels Company Limited, a company promoted by Tata Son Private Limited
b) Company operates its hotels,
viz. Taj Ganges and Nadesar Palace
in Varanasi and Ginger Hotel, Gondia
in Maharashtra.
c) Ginger Hotel at Gondia has ~34
rooms, while Taj Ganges and Nadesar
Palace at Varanasi has 144 rooms and
suits.

Website BSE

Market Cap ₹ 1,283 Cr.
Current Price ₹ 9,872
High / Low ₹ 12,500 / 7,400
Stock P/E 29.7
Book Value ₹ 1,329
Dividend Yield 0.25 %
ROCE 37.3 %
ROE 28.3 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has delivered good profit growth of 31.8% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28.7%

Cons

Stock is trading at 7.43 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Services Leisure Services Hotels & Resorts

Part of BSE SmallCap BSE Allcap BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	16	20	18	28	28	25	26	34	36	23	24	39	49
	10	12	13	16	16	16	16	18	20	14	14	20	27
Operating Profit	6	8	5	12	11	9	10	16	16	9	10	19	22
OPM %	36%	38%	29%	44%	41%	37%	39%	47%	45%	38%	41%	48%	44%
	0	0	0	0	0	1	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	2	1	1	1	1	1	1	1	2	1	2
Profit before tax	4	6	4	11	10	8	9	15	15	9	10	18	21
Tax %	27%	25%	26%	25%	25%	26%	25%	25%	25%	25%	26%	26%	25%
	3	5	3	8	8	6	7	11	12	6	7	14	16
EPS in Rs	23.31	34.92	22.85	63.77	58.38	48.46	52.62	86.92	89.15	49.46	55.38	104.31	123.46
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Profit & Loss

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	43	47	50	50	47	60	64	24	50	93	121	135
	28	31	35	36	36	42	43	24	35	57	69	76
Operating Profit	15	16	15	14	11	17	21	0	15	36	51	59
OPM %	34%	34%	30%	28%	24%	29%	33%	2%	29%	39%	43%	44%
	1	1	1	2	1	1	-0	1	0	1	3	5
Interest	0	0	0	0	0	1	1	1	1	0	0	0
Depreciation	2	3	3	5	4	5	6	7	6	6	6	6
Profit before tax	14	14	13	11	8	12	14	-7	8	31	48	58
Tax %	35%	35%	36%	37%	17%	28%	21%	-25%	27%	25%	25%	26%
	9	9	8	7	6	9	11	-5	6	23	36	43
EPS in Rs	69.08	71.00	65.23	52.46	49.85	67.08	81.62	-40.23	43.46	179.85	277.23	332.69
Dividend Payout %	29%	28%	31%	29%	30%	22%	9%	0%	23%	11%	9%	8%

Compounded Sales Growth
10 Years:	11%
5 Years:	16%
3 Years:	40%
TTM:	12%

Compounded Profit Growth
10 Years:	17%
5 Years:	32%
3 Years:	97%
TTM:	19%

Stock Price CAGR
10 Years:	20%
5 Years:	52%
3 Years:	75%
1 Year:	13%

Return on Equity
10 Years:	17%
5 Years:	20%
3 Years:	29%
Last Year:	28%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	1	1	1	1	1	1	1	1	1	1
Reserves	42	48	56	60	64	70	77	71	77	98	132	171
	0	0	0	0	5	5	9	9	4	4	4	4
	12	14	14	18	19	20	18	10	14	17	19	19
Total Liabilities	55	63	71	79	89	97	105	91	95	120	156	195
	26	44	43	41	54	81	91	84	78	73	71	70
CWIP	11	1	3	4	15	1	0	0	0	1	5	19
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	19	19	25	34	20	14	14	7	17	47	79	106
Total Assets	55	63	71	79	89	97	105	91	95	120	156	195

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	10	13	10	11	9	16	17	2	16	28	41	42
	-17	-7	-6	-12	-8	-16	-13	-1	-11	-17	-25	-43
	-3	-3	-3	-3	3	-3	-3	-2	-6	-2	-3	-4
Net Cash Flow	-10	4	0	-4	3	-4	1	-1	-0	9	12	-5

Ratios

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	21	19	27	31	31	27	25	12	10	17	15	11
Inventory Days	80	85	85	85	92	79	62	109
Days Payable	237	299	285	367	446	429	333	235
Cash Conversion Cycle	-136	-195	-173	-251	-323	-323	-246	-114	10	17	15	11
Working Capital Days	53	9	29	55	-38	-34	-17	-29	-28	-9	-8	-0
ROCE %	34%	31%	25%	18%	12%	17%	18%	-7%	10%	34%	41%	37%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	62.57%	62.57%	62.57%	62.57%	62.57%	62.57%	62.57%	62.57%	62.57%	61.19%	62.58%	62.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%
	37.43%	37.44%	37.43%	37.42%	37.43%	37.42%	37.43%	37.43%	37.42%	38.82%	37.42%	37.41%
No. of Shareholders	4,413	4,389	4,317	4,417	4,618	4,997	5,601	6,340	6,581	6,600	6,572	6,607

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	62.55%	62.55%	62.56%	62.56%	62.57%	62.57%	62.57%	62.57%	62.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%
	37.45%	37.45%	37.44%	37.44%	37.43%	37.43%	37.42%	37.43%	37.41%
No. of Shareholders	5,831	4,798	4,593	4,601	4,511	4,334	4,417	6,340	6,607

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Apr 2025

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Apr 2023

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Jan 2023

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Nov 2022

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Jul 2022

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