Benares Hotels Ltd

₹ 9,135 -0.91%

24 Apr - 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]

Website BSE

Market Cap ₹ 1,188 Cr.
Current Price ₹ 9,135
High / Low ₹ 10,051 / 3,571
Stock P/E 33.0
Book Value ₹ 1,023
Dividend Yield 0.22 %
ROCE 40.4 %
ROE 31.0 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has delivered good profit growth of 33.5% CAGR over last 5 years

Cons

Stock is trading at 8.93 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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Detailed Comparison with:

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
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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%	42%
	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:	33%
3 Years:	107%
TTM:	54%

Stock Price CAGR
10 Years:	31%
5 Years:	42%
3 Years:	93%
1 Year:	144%

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			48
Days Payable	408	237	299	285	367	446	429	333	235			240
Cash Conversion Cycle	-303	-136	-195	-173	-251	-323	-323	-246	-114	10	17	-177
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%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 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	4,407	4,351	4,373	4,334	4,413	4,389	4,317	4,417	4,618	4,997	5,601	6,340

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

* 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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Benares Hotels Ltd

Benares Hotels Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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