Benares Hotels Ltd
Incorporated in 1971, Benares Hotels Limited (BHL) operates its hotels, viz. Taj Ganges and Taj Nadesar Palace in Varanasi, and Ginger, Gondia in Maharashtra. [1]
- Market Cap ₹ 1,240 Cr.
- Current Price ₹ 9,537
- High / Low ₹ 12,500 / 7,855
- Stock P/E 27.9
- Book Value ₹ 1,329
- Dividend Yield 0.26 %
- ROCE 37.3 %
- ROE 28.3 %
- Face Value ₹ 10.0
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 7.18 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
Quarterly Results
Figures in Rs. Crores
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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
43 | 47 | 50 | 50 | 47 | 60 | 64 | 24 | 50 | 93 | 121 | 135 | 137 | |
28 | 31 | 35 | 36 | 36 | 42 | 43 | 24 | 35 | 57 | 69 | 76 | 77 | |
Operating Profit | 15 | 16 | 15 | 14 | 11 | 17 | 21 | 0 | 15 | 36 | 51 | 59 | 61 |
OPM % | 34% | 34% | 30% | 28% | 24% | 29% | 33% | 2% | 29% | 39% | 43% | 44% | 44% |
1 | 1 | 1 | 2 | 1 | 1 | -0 | 1 | 0 | 1 | 3 | 5 | 6 | |
Interest | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
Depreciation | 2 | 3 | 3 | 5 | 4 | 5 | 6 | 7 | 6 | 6 | 6 | 6 | 6 |
Profit before tax | 14 | 14 | 13 | 11 | 8 | 12 | 14 | -7 | 8 | 31 | 48 | 58 | 60 |
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 | 44 | |
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 | 341.46 |
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: | 16% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 32% |
3 Years: | 97% |
TTM: | 23% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 51% |
3 Years: | 52% |
1 Year: | 15% |
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 | -76 | -65 | -48 | -112 | -28 | -9 | -8 | -0 |
ROCE % | 34% | 31% | 25% | 18% | 12% | 17% | 18% | -7% | 10% | 34% | 41% | 37% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
24 Sep - Newspaper advertisement regarding intimation of 100 days campaign named ''Saksham Niveshak'' by Investor Education and Protection Fund Authority, Ministry of Corporate Affairs.
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
5 Sep - Malware detected Sept 5, 2025 affecting select IT systems; containment ongoing.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Aug - Newspaper advertisement - Special window for re-lodgement of transfer requests of physical shares.
-
Shareholder Meeting / Postal Ballot-Outcome of AGM
12 Aug - Benares Hotels' 54th AGM held; all resolutions passed; dividend declared; director re-appointed; secretarial auditor appointed.
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Shareholder Meeting / Postal Ballot-Outcome of AGM
12 Aug - Benares Hotels' 54th AGM held; all resolutions including dividend and director re-appointment passed.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Holding Company[1]
The Indian Hotels Company Limited (IHCL) is the ultimate Holding Company of BHL.