Benares Hotels
BENARAS NSE
Benares Hotels
Leisure ServicesNSE: BENARAS BSE: 509438 Hotels & Resorts
Key Fundamentals
MicrocapHotels & ResortsLeisure ServicesMarket Cap
₹1,417 Cr
Volatility
High Risk
P/E Ratio
31.7
EBITDA
₹65.40 Cr
Return on Equity
20.34%
Debt to Equity
0.02
Book Value
₹1,635.61
52W High
₹11,200
52W Low
₹9,965
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is almost debt free.
- Company has delivered good profit growth of 59.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.6%
Growth Rate
Revenue Growth
2.99% lower than
3Y
Net Income Growth
0% lower than
3Y
Cash Flow Change
16.44% lower than
3Y
ROE
-18.77% lower than
3Y
ROCE
-18.49% higher than
3Y
EBITDA Margin (Avg.)
-1.61% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 25.47 | 25.9 | 33.61 | 35.58 | 23 | 24.47 | 38.87 | 49.12 | 25.01 | 23.9 | 41.63 | 48.6 | 33.89 |
| Expenses | 16.07 | 15.88 | 17.76 | 19.74 | 14.16 | 14.4 | 20.18 | 27.4 | 14.98 | 15.66 | 22.1 | 26.77 | 21.4 |
| Operating Profit | 9.4 | 10.02 | 15.85 | 15.84 | 8.84 | 10.07 | 18.69 | 21.72 | 10.03 | 8.24 | 19.53 | 21.83 | 12.49 |
| OPM % | 36.91% | 38.69% | 47.16% | 44.52% | 38.43% | 41.15% | 48.08% | 44.22% | 40.1% | 34.48% | 46.91% | 44.92% | 36.85% |
| Other Income | 0.64 | 0.67 | 0.86 | 1.06 | 1.35 | 1.24 | 1.23 | 1.38 | 1.78 | 1.62 | 0.9 | 1.34 | 1.33 |
| Interest | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.1 | 0.1 | 0.09 | 0.1 | 0.1 | 0.1 | 0.1 | 0.12 |
| Depreciation | 1.49 | 1.48 | 1.49 | 1.45 | 1.49 | 1.53 | 1.49 | 1.52 | 1.51 | 1.51 | 1.45 | 2.34 | 2.63 |
| PBT | 8.46 | 9.12 | 15.13 | 15.36 | 8.61 | 9.68 | 18.33 | 21.49 | 10.2 | 8.25 | 18.88 | 20.73 | 11.07 |
| Tax % | 25.65% | 25.11% | 25.25% | 24.54% | 25.32% | 25.62% | 26.08% | 25.31% | 25.69% | 26.42% | 24.63% | 25.95% | 25.47% |
| Net Profit | 6.3 | 6.84 | 11.3 | 11.59 | 6.43 | 7.2 | 13.56 | 16.05 | 7.58 | 6.08 | 14.23 | 15.35 | 8.25 |
| EPS in Rs | 48.46 | 52.62 | 86.92 | 89.15 | 49.46 | 55.38 | 104 | 123 | 58.31 | 46.77 | 109 | 118 | 63.46 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 47 | 50 | 50 | 47 | 60 | 64 | 24 | 50 | 93 | 121 | 135 | 139 | 148 |
| Expenses | 31 | 35 | 36 | 36 | 42 | 43 | 24 | 35 | 57 | 69 | 76 | 79 | 86 |
| Operating Profit | 16 | 15 | 14 | 11 | 17 | 21 | 0 | 15 | 36 | 51 | 59 | 60 | 62 |
| OPM % | 34% | 30% | 28% | 24% | 29% | 33% | 1.6% | 29% | 39% | 43% | 44% | 43% | 42% |
| Other Income | 1 | 1 | 2 | 1 | 1 | 0 | 1 | 0 | 1 | 3 | 5 | 6 | 5 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 5 | 4 | 5 | 6 | 7 | 6 | 6 | 6 | 6 | 7 | 8 |
| PBT | 14 | 13 | 11 | 8 | 12 | 14 | -7 | 8 | 31 | 48 | 58 | 58 | 59 |
| Tax % | 35% | 36% | 37% | 17% | 28% | 21% | -25% | 27% | 25% | 25% | 26% | 26% | — |
| Net Profit | 9 | 8 | 7 | 6 | 9 | 11 | -5 | 6 | 23 | 36 | 43 | 43 | 44 |
| EPS in Rs | 71 | 65.23 | 52.46 | 49.85 | 67.08 | 81.62 | -40.23 | 43.46 | 180 | 277 | 333 | 333 | 338 |
| Div. Payout % | 28% | 31% | 29% | 30% | 22% | 9% | 0% | 23% | 11% | 9% | 8% | 8% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 48 | 56 | 60 | 64 | 70 | 77 | 71 | 77 | 98 | 132 | 171 | 211 |
| Borrowings | 0 | 0 | 0 | 5 | 5 | 9 | 9 | 4 | 4 | 4 | 4 | 4 |
| Other Liabilities | 14 | 14 | 18 | 19 | 20 | 18 | 10 | 14 | 17 | 19 | 19 | 40 |
| Total Liabilities | 63 | 71 | 79 | 89 | 97 | 105 | 91 | 95 | 120 | 156 | 195 | 257 |
| Fixed Assets | 44 | 43 | 41 | 54 | 81 | 91 | 84 | 78 | 73 | 71 | 70 | 157 |
| CWIP | 1 | 3 | 4 | 15 | 1 | 0 | 0 | 0 | 1 | 5 | 19 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 19 | 25 | 34 | 20 | 14 | 14 | 7 | 17 | 47 | 79 | 106 | 99 |
| Total Assets | 63 | 71 | 79 | 89 | 97 | 105 | 91 | 95 | 120 | 156 | 195 | 257 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 13 | 10 | 11 | 9 | 16 | 17 | 2 | 16 | 28 | 41 | 42 | 49 |
| Investing | -7 | -6 | -12 | -8 | -16 | -13 | -1 | -11 | -17 | -25 | -43 | -59 |
| Financing | -3 | -3 | -3 | 3 | -3 | -3 | -2 | -6 | -2 | -3 | -4 | -4 |
| Net Cash Flow | 4 | 0 | -4 | 3 | -4 | 1 | -1 | 0 | 9 | 12 | -5 | -14 |
| Free Cash Flow | 2 | 6 | 8 | -19 | -1 | 2 | 1 | 16 | 26 | 29 | 24 | -11 |
| CFO/OP | 112 | 84 | 97 | 101 | 105 | 93 | 198 | 115 | 98 | 103 | 96 | 103 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 27 | 31 | 31 | 27 | 25 | 12 | 10 | 17 | 15 | 11 | 15 |
| Inventory Days | 85 | 85 | 85 | 92 | 79 | 62 | 109 | — | — | — | — | — |
| Days Payable | 299 | 285 | 367 | 446 | 429 | 333 | 235 | — | — | — | — | — |
| Cash Conversion Cycle | -195 | -173 | -251 | -323 | -323 | -246 | -114 | 10 | 17 | 15 | 11 | 15 |
| Working Capital Days | 9 | 29 | 55 | -76 | -65 | -48 | -112 | -28 | -9 | -8 | 0 | -47 |
| ROCE % | 31% | 25% | 18% | 12% | 17% | 18% | -7% | 10% | 34% | 41% | 37% | 30% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Benares Hotels insights
60 extracted metrics + investor summaries across FY09–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)
4 May - Benares Hotels CFO Veeramani Venkata resigned effective close of business May 4, 2026. 4 May - Benares Hotels CFO Veeramani Venkata resigned effective close of business May 4, 2026.
2
Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)
4 May - Benares Hotels CFO Veeramani Venkata resigned effective close of business May 4, 2026. 4 May - Benares Hotels CFO Veeramani Venkata resigned effective close of business May 4, 2026.
3
Announcement under Regulation 30 (LODR)-Newspaper Publication
30 Apr - Copies of Financial Results for the period / year ended March 31, 2026, as published in the newspapers on April 30, 2026. 30 Apr - Copies of Financial Results for the period / year ended March 31, 2026, as published in the newspapers on April 30, 2026.
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
30 Apr - Copies of Financial Results for the period / year ended March 31, 2026, as published in the newspapers on April 30, 2026. 30 Apr - Copies of Financial Results for the period / year ended March 31, 2026, as published in the newspapers on April 30, 2026.
5
Announcement under Regulation 30 (LODR)-Dividend Updates
29 Apr - Benares Hotels approved FY26 audited results, 250% dividend, director changes, and opened a 100-room block at Taj Ganges. 29 Apr - Benares Hotels approved FY26 audited results, 250% dividend, director changes, and opened a 100-room block at Taj Ganges.
Frequently Asked Questions about Benares Hotels
What does Benares Hotels Ltd do?
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]
Where is Benares Hotels Ltd (509438) listed?
Benares Hotels Ltd trades as BENARAS on the NSE and under code 509438 on the BSE.
Which sector does Benares Hotels Ltd belong to?
Benares Hotels Ltd is classified under the Leisure Services sector, in the Hotels & Resorts industry.
What is the market capitalisation of Benares Hotels Ltd?
Benares Hotels Ltd has a market capitalisation of ₹1,417 Cr, which places it in the Small Cap band.
What is the PE ratio of Benares Hotels Ltd?
Benares Hotels Ltd trades at a PE ratio of 31.70, against a book value of ₹1,635.61 per share.
What is the 52-week high and low of Benares Hotels Ltd?
Over the last 52 weeks Benares Hotels Ltd has traded between ₹9,965 and ₹11,200.
Does Benares Hotels Ltd pay dividends?
Benares Hotels Ltd has a dividend yield of 0.23%.
What is the Return on Equity (ROE) of Benares Hotels Ltd?
Benares Hotels Ltd reported a return on equity of 20.34%. Its debt-to-equity ratio is 0.02.
Company Information
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]
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