Benares Hotels Ltd

Benares Hotels Ltd

₹ 8,955 0.46%
19 Jun 9:26 a.m.
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 1,164 Cr.
  • Current Price 8,955
  • High / Low 10,051 / 4,200
  • Stock P/E 32.1
  • Book Value 1,023
  • Dividend Yield 0.22 %
  • ROCE 40.6 %
  • ROE 31.1 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 33.6% CAGR over last 5 years

Cons

  • Stock is trading at 8.71 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

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
11 4 11 19 16 20 18 28 28 25 26 34 36
8 5 8 12 10 12 13 16 16 16 16 18 20
Operating Profit 3 -1 2 8 6 8 5 12 11 9 10 16 16
OPM % 31% -31% 23% 39% 36% 38% 29% 44% 41% 37% 39% 47% 45%
0 0 0 0 0 0 0 0 0 1 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 1 1 1 1 1 1
Profit before tax 1 -3 1 6 4 6 4 11 10 8 9 15 15
Tax % 24% 25% 26% 25% 27% 25% 26% 25% 25% 26% 25% 25% 25%
1 -2 0 4 3 5 3 8 8 6 7 11 12
EPS in Rs 7.85 -17.54 3.69 33.92 23.31 34.92 22.85 63.77 58.38 48.46 52.62 86.92 89.15
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
39 43 47 50 50 47 60 64 24 50 93 121
25 28 31 35 36 36 42 43 24 35 57 69
Operating Profit 14 15 16 15 14 11 17 21 0 15 36 51
OPM % 35% 34% 34% 30% 28% 24% 29% 33% 2% 29% 39% 43%
1 1 1 1 2 1 1 -0 1 0 1 3
Interest 0 0 0 0 0 0 1 1 1 1 0 0
Depreciation 2 2 3 3 5 4 5 6 7 6 6 6
Profit before tax 13 14 14 13 11 8 12 14 -7 8 31 48
Tax % 32% 35% 35% 36% 37% 17% 28% 21% 25% 27% 25% 25%
9 9 9 8 7 6 9 11 -5 6 23 36
EPS in Rs 66.00 69.08 71.00 65.23 52.46 49.85 67.08 81.62 -40.23 43.46 179.85 277.23
Dividend Payout % 30% 29% 28% 31% 29% 30% 22% 9% 0% 23% 11% 9%
Compounded Sales Growth
10 Years: 11%
5 Years: 15%
3 Years: 71%
TTM: 29%
Compounded Profit Growth
10 Years: 15%
5 Years: 34%
3 Years: 107%
TTM: 55%
Stock Price CAGR
10 Years: 27%
5 Years: 45%
3 Years: 79%
1 Year: 103%
Return on Equity
10 Years: 15%
5 Years: 16%
3 Years: 23%
Last Year: 31%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1 1 1 1 1 1 1 1 1 1 1 1
Reserves 36 42 48 56 60 64 70 77 71 77 98 132
0 0 0 0 0 5 5 9 9 4 4 4
12 12 14 14 18 19 20 18 10 14 17 19
Total Liabilities 50 55 63 71 79 89 97 105 91 95 120 156
25 26 44 43 41 54 81 91 84 78 73 71
CWIP 6 11 1 3 4 15 1 0 0 0 1 5
Investments 0 0 0 0 0 0 0 0 0 0 0 0
18 19 19 25 34 20 14 14 7 17 47 79
Total Assets 50 55 63 71 79 89 97 105 91 95 120 156

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12 10 13 10 11 9 16 17 2 16 28 41
-2 -17 -7 -6 -12 -8 -16 -13 -1 -11 -17 -25
-2 -3 -3 -3 -3 3 -3 -3 -2 -6 -2 -3
Net Cash Flow 7 -10 4 0 -4 3 -4 1 -1 -0 9 12

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 22 21 19 27 31 31 27 25 12 10 17 15
Inventory Days 83 80 85 85 85 92 79 62 109
Days Payable 408 237 299 285 367 446 429 333 235
Cash Conversion Cycle -303 -136 -195 -173 -251 -323 -323 -246 -114 10 17 15
Working Capital Days -44 53 9 29 55 -38 -34 -17 -29 -28 -9 -8
ROCE % 37% 34% 31% 25% 18% 12% 17% 18% -7% 10% 34% 41%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57% 62.57%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01%
37.43% 37.43% 37.43% 37.43% 37.43% 37.44% 37.43% 37.42% 37.43% 37.42% 37.43% 37.43%
No. of Shareholders 4,4074,3514,3734,3344,4134,3894,3174,4174,6184,9975,6016,340

* 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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