Benares Hotels Ltd

Benares Hotels Ltd

₹ 9,332 0.97%
23 Feb - close price
About

Benares Hotels Ltd was established in 1971. The Company operates its hotels, i.e. Taj Ganges and Taj Nadesar Palace in Varanasi and The Gateway Hotel, Gondia in Maharashtra. It became a subsidiary of The Indian Hotels Company Limited in 2011 [1]

Key Points

Recognized Brand
Taj has been recognized as World’s Strongest Hotel Brand and India’s Strongest Brand across all sectors by Brand Finance 2022. Two of BHL’s hotels are branded as Taj. [1]

  • Market Cap 1,213 Cr.
  • Current Price 9,332
  • High / Low 10,051 / 3,050
  • Stock P/E 37.9
  • Book Value 849
  • Dividend Yield 0.21 %
  • ROCE 34.2 %
  • ROE 26.3 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 29.5% CAGR over last 5 years

Cons

  • Stock is trading at 11.0 times its book value
  • Company has a low return on equity of 9.96% over last 3 years.

* 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

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
10 11 4 11 19 16 20 18 28 28 25 26 34
7 8 5 8 12 10 12 13 16 16 16 16 18
Operating Profit 3 3 -1 2 8 6 8 5 12 11 9 10 16
OPM % 28% 31% -31% 23% 39% 36% 38% 29% 44% 41% 37% 39% 47%
0 0 0 0 0 0 0 0 0 0 1 1 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 1 1 1 1 1
Profit before tax 1 1 -3 1 6 4 6 4 11 10 8 9 15
Tax % 27% 24% 25% 26% 25% 27% 25% 26% 25% 25% 26% 25% 25%
1 1 -2 0 4 3 5 3 8 8 6 7 11
EPS in Rs 4.15 7.85 -17.54 3.69 33.92 23.31 34.92 22.85 63.77 58.38 48.46 52.62 86.92
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
35 39 43 47 50 50 47 60 64 24 50 93 112
24 25 28 31 35 36 36 42 43 24 35 57 66
Operating Profit 11 14 15 16 15 14 11 17 21 0 15 36 46
OPM % 31% 35% 34% 34% 30% 28% 24% 29% 33% 2% 29% 39% 41%
0 1 1 1 1 2 1 1 -0 1 0 1 3
Interest 0 0 0 0 0 0 0 1 1 1 1 0 0
Depreciation 2 2 2 3 3 5 4 5 6 7 6 6 6
Profit before tax 10 13 14 14 13 11 8 12 14 -7 8 31 43
Tax % 36% 32% 35% 35% 36% 37% 17% 28% 21% 25% 27% 25%
6 9 9 9 8 7 6 9 11 -5 6 23 32
EPS in Rs 47.62 66.00 69.08 71.00 65.23 52.46 49.85 67.08 81.62 -40.23 43.46 179.85 246.38
Dividend Payout % 34% 30% 29% 28% 31% 29% 30% 22% 9% 0% 23% 11%
Compounded Sales Growth
10 Years: 9%
5 Years: 15%
3 Years: 14%
TTM: 37%
Compounded Profit Growth
10 Years: 11%
5 Years: 30%
3 Years: 29%
TTM: 70%
Stock Price CAGR
10 Years: 32%
5 Years: 47%
3 Years: 93%
1 Year: 182%
Return on Equity
10 Years: 13%
5 Years: 11%
3 Years: 10%
Last Year: 26%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1 1 1 1 1 1 1 1 1 1 1 1 1
Reserves 30 36 42 48 56 60 64 70 77 71 77 98 109
0 0 0 0 0 0 5 5 9 9 4 4 4
9 12 12 14 14 18 19 20 18 10 14 17 19
Total Liabilities 41 50 55 63 71 79 89 97 105 91 95 120 133
26 25 26 44 43 41 54 81 91 84 78 73 71
CWIP 4 6 11 1 3 4 15 1 0 0 0 1 2
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
11 18 19 19 25 34 20 14 14 7 17 47 60
Total Assets 41 50 55 63 71 79 89 97 105 91 95 120 133

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
9 12 10 13 10 11 9 16 17 2 16 28
-5 -2 -17 -7 -6 -12 -8 -16 -13 -1 -11 -17
-2 -2 -3 -3 -3 -3 3 -3 -3 -2 -6 -2
Net Cash Flow 2 7 -10 4 0 -4 3 -4 1 -1 -0 9

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 27 22 21 19 27 31 31 27 25 12 10 17
Inventory Days 107 83 80 85 85 85 92 79 62 109
Days Payable 231 408 237 299 285 367 446 429 333 235
Cash Conversion Cycle -97 -303 -136 -195 -173 -251 -323 -323 -246 -114 10 17
Working Capital Days -22 -44 53 9 29 55 -38 -34 -17 -29 -28 -9
ROCE % 32% 37% 34% 31% 25% 18% 12% 17% 18% -7% 10% 34%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57%
37.43% 37.43% 37.43% 37.43% 37.43% 37.43% 37.44% 37.43% 37.42% 37.43% 37.42% 37.43%
No. of Shareholders 4,5114,4074,3514,3734,3344,4134,3894,3174,4174,6184,9975,601

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