Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
News 
About
Benares Hotels Ltd (509438)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509438 NSE: Hotel, Resort & Restaurants | Small Cap | Benares Hotels Share Price
₹10,374.95 17.95 (0.17%)
As on 06-Jul'26 16:59
Benares Hotels Ltd (509438)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509438 NSE: Hotel, Resort & Restaurants | Small Cap | Benares Hotels Share Price
₹10,374.95 17.95 (0.17%)
As on 06-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,349 Cr.
Current Price
₹10,375
52-Week Low / High
₹9,000 / 11,001
TTM EPS
₹332.6
TTM Sales
₹139 Cr.
Book Value per Share
₹1,635.6
P/E Ratio
31.19
Higher than its 5-year historical median
Industry PE
42.8
Price to Book (P/B)
6.34
In line with its 5-year historical median
Price to Sales (P/S)
9.69
Higher than its 5-year historical median
EV/EBITDA
19.39
Higher than its 5-year historical median
Dividend Yield
0.24%
Profitability Efficiency
Return on Equity (ROE)
22.44%
Outperforms industry median
Return on Capital Employed (ROCE)
30.34%
Outperforms industry median
Return on Assets (ROA)
19.12%
Operating Profit Margin
42.3%
Net Profit Margin
31.08%
Gross Profit Margin
46.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
2.71%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-0.84%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-0.02%
Asset Quality
Promoter Holding
62.58%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹211 Cr.
Equity
₹1.3 Cr.
Face Value
₹10
All Time Low / High
₹20.50 / 12499.95
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Quality
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Valuation
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Price Trend
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Is Benares Hotels Ltd a good quality company?
Benares Hotels Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Benares Hotels Ltd performance compare with that of its Peers?
Revenue growth of Benares Hotels Ltd vs industry peers?
Benares Hotels Ltd revenue CAGR is 16.31%, compared to the industry median CAGR of 3.58%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Benares Hotels Ltd?
Promoters hold 62.58% of the Benares Hotels Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Benares Hotels Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 25.3% based on the current price.
10 Year X-Ray : Login to view analysis.
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Benares Hotels Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 18.1% | 12.1% | 17.6% | 18.2% | -7.4% | 10.7% | 35.6% | 41.6% | 38.3% | 30.3% | - |
| Value Creation Index ⓘ | 0.3 | -0.1 | 0.3 | 0.3 | -1.5 | -0.2 | 1.6 | 2.0 | 1.7 | 1.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 49.6 | 47.4 | 59.7 | 63.6 | 24.2 | 49.8 | 93.3 | 121 | 135 | 139 | 139 |
| Sales YoY Gr. | - | -4.3% | 25.8% | 6.6% | -61.9% | 105.6% | 87.3% | 29.2% | 12.4% | 2.7% | - |
| Adj EPS ⓘ | 52.4 | 49.4 | 65.5 | 83.4 | -40.2 | 43.5 | 179.9 | 278.6 | 332.7 | 333.4 | 332.6 |
| YoY Gr. | - | -5.7% | 32.6% | 27.3% | -148.2% | NA | 313.8% | 54.9% | 19.4% | 0.2% | - |
| BVPS (₹) ⓘ | 470.5 | 502.4 | 551.6 | 602.4 | 555.7 | 598.8 | 767.5 | 1,023.1 | 1,328.6 | 1,635.6 | 1,635.6 |
| Adj Net Profit ⓘ | 6.8 | 6.4 | 8.5 | 10.9 | -5.2 | 5.7 | 23.4 | 36.2 | 43.3 | 43.4 | 43 |
| Cash Flow from Ops. ⓘ | 10.9 | 8.7 | 15.7 | 16.8 | 2.1 | 16.2 | 27.8 | 40.6 | 41.9 | 48.7 | - |
| Debt/CF from Ops. ⓘ | 0 | 0.6 | 0.3 | 0.3 | 2.7 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 12.2% | 41.8% | 14.2% | 2.7% | ||||
| Adj EPS ⓘ | 22.8% | NA | 22.8% | 0.2% | ||||
| BVPSⓘ | 14.9% | 24.1% | 28.7% | 23.1% | ||||
| Share Price | 24.8% | 45.8% | 25.2% | 5.2% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 11.5 | 10.2 | 12.4 | 14.5 | -7 | 7.5 | 26.3 | 31.1 | 28.3 | 22.5 | 20.3 |
| Op. Profit Mgn % ⓘ | 27.9 | 23.8 | 29.3 | 33.1 | 1.6 | 29.1 | 38.8 | 42.6 | 43.8 | 42.3 | 42.9 |
| Net Profit Mgn % ⓘ | 13.7 | 13.5 | 14.3 | 17.1 | -21.6 | 11.3 | 25.1 | 30 | 31.9 | 31.2 | 31.1 |
| Debt to Equity ⓘ | 0 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 131 | 138 | 76 | 65 | 127 | 56 | 52 | 69 | 61 | 45 | 137 |
| Cash Conv. Cycle ⓘ | -16 | -27 | -33 | -30 | -2 | -13 | -19 | -24 | -23 | -26 | 105 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 50 | 47 | 60 | 64 | 24 | 50 | 93 | 121 | 135 | 139 |
| Operating Expenses ⓘ + | 36 | 36 | 42 | 43 | 24 | 35 | 57 | 69 | 76 | 80 |
| Operating Profit ⓘ | 14 | 11 | 17 | 21 | 0 | 15 | 36 | 51 | 59 | 59 |
| Operating Profit Margin (%) | 27.9% | 23.8% | 29.2% | 32.6% | 1.6% | 29.1% | 38.7% | 42.4% | 43.8% | 42.3% |
| Other Income ⓘ + | 2 | 1 | 1 | 0 | 1 | 0 | 2 | 3 | 5 | 7 |
| Interest ⓘ | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 5 | 4 | 5 | 6 | 7 | 6 | 6 | 6 | 6 | 7 |
| Profit Before Tax ⓘ | 11 | 8 | 12 | 13 | -7 | 8 | 31 | 48 | 58 | 58 |
| Tax ⓘ | 4 | 1 | 3 | 3 | -2 | 2 | 8 | 12 | 15 | 15 |
| Profit After Tax | 7 | 6 | 9 | 11 | -5 | 6 | 23 | 36 | 43 | 43 |
| PAT Margin (%) | 13.8% | 13.7% | 14.6% | 16.7% | -21.6% | 11.3% | 25.1% | 29.9% | 31.9% | 31.1% |
| Adjusted EPS (₹) | 52.4 | 49.9 | 67.1 | 81.6 | -40.2 | 43.5 | 179.9 | 277.3 | 332.7 | 332.6 |
| Dividend Payout Ratio (%) | 28.60% | 30.10% | 22.40% | 9.20% | 0% | 23% | 11.10% | 9% | 7.50% | 7.50% |
Valuation of Benares Hotels - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 61 | 65 | 72 | 78 | 72 | 78 | 100 | 133 | 173 | 213 | |
| Debt + | 0 | 5 | 5 | 6 | 6 | 0 | 0 | 0 | 0 | 0 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 5 | 6 | 7 | 6 | 2 | 3 | 5 | 7 | 5 | 9 | |
| Others Liabilities ⓘ | 13 | 13 | 13 | 15 | 11 | 14 | 15 | 16 | 18 | 35 | |
| Total Liabilities ⓘ | 79 | 89 | 97 | 105 | 91 | 95 | 120 | 156 | 195 | 257 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 41 | 54 | 81 | 91 | 84 | 78 | 73 | 71 | 70 | 157 | |
| CWIP ⓘ | 4 | 15 | 1 | 0 | 0 | 0 | 1 | 5 | 19 | 1 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | |
| Trade Receivables | 4 | 4 | 4 | 4 | 1 | 1 | 4 | 5 | 4 | 6 | |
Cash Equivalents 
ⓘ
| 12 | 6 | 3 | 2 | 2 | 7 | 30 | 50 | 90 | 81 | |
| Others Assets ⓘ | 16 | 9 | 5 | 6 | 4 | 8 | 11 | 23 | 11 | 11 | |
| Total Assets ⓘ | 79 | 89 | 97 | 105 | 91 | 95 | 120 | 156 | 195 | 257 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 11 | 9 | 16 | 17 | 2 | 16 | 28 | 41 | 42 | 49 |
| Cash Flow From Investing Activity ⓘ + | -12 | -8 | -16 | -13 | -1 | -11 | -17 | -25 | -43 | -59 |
| Cash Flow From Financing Activity ⓘ + | -3 | 3 | -3 | -3 | -2 | -6 | -2 | -3 | -4 | -4 |
| Net Cash Flow ⓘ | -4 | 3 | -4 | 1 | -1 | -0 | 9 | 12 | -5 | -14 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.48 | 10.25 | 12.73 | 14.15 | -6.95 | 7.53 | 26.33 | 30.97 | 28.29 | 22.44 |
| ROCE (%) | 18.07 | 12.13 | 17.6 | 18.16 | -7.39 | 10.74 | 35.64 | 41.64 | 38.27 | 30.34 |
| Asset Turnover Ratio | 0.66 | 0.57 | 0.64 | 0.63 | 0.25 | 0.54 | 0.87 | 0.87 | 0.77 | 0.62 |
| PAT to CFO Conversion(x) | 1.57 | 1.5 | 1.78 | 1.55 | N/A | 2.67 | 1.22 | 1.14 | 0.98 | 1.14 |
| Working Capital Days | ||||||||||
| Receivable Days | 29 | 31.90 | 25.80 | 24.90 | 38.50 | 7.90 | 11.10 | 14.20 | 12.30 | 12.60 |
| Inventory Days | 8.60 | 9.20 | 7.70 | 6.70 | 14.10 | 6 | 4 | 3.90 | 3.20 | 4 |
| Payable Days | 329.30 | 405.50 | 402.80 | 369.80 | 492.20 | 195.10 | 182.20 | 216.50 | 208.50 | 233.50 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Benares Hotels Ltd FAQs
The current trading price of Benares Hotels on 06-Jul-2026 16:59 is ₹10,375.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Jul-2026 the market cap of Benares Hotels stood at ₹1,348.7 Cr
The latest P/E ratio of Benares Hotels as of 05-Jul-2026 is 31.19.
The latest P/B ratio of Benares Hotels as of 05-Jul-2026 is 6.34.
The 52-week high of Benares Hotels is ₹11,001 and the 52-week low is ₹9,000.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Benares Hotels is ₹139 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Benares Hotels Ltd is a good quality company.
The key valuation ratios of Benares Hotels Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Benares Hotels Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Benares Hotels Ltd
Benares Hotels was incorporated in the year 1971. It is promoted by Taj Investment and Finance Company, All India Kashiraj Trust, M K Krishna Priya, The Indian Hotels Company, Piem Hotels, Anant Narain Singh, M K Vishnupriya and M K Hari Priya.
The registered office of the company is situated at Nadesar Palace Compound, Varanasi, Uttar Pradesh- 221002.
Business area of the company
The company is engaged in hotel operations, including catering services. It operates the Varuna Restaurant.
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