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TGB Banquets And Hotels Ltd (TGBHOTELS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532845 NSE: TGBHOTELS Hotel, Resort & Restaurants | Small Cap | TGB Banquets & Hotel Share Price

₹9.03 0.06 (0.67%)

As on 24-Jun'26 16:59

TGB Banquets And Hotels Ltd (TGBHOTELS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532845 NSE: TGBHOTELS Hotel, Resort & Restaurants | Small Cap | TGB Banquets & Hotel Share Price

₹9.03 0.06 (0.67%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹26 Cr.
Current Price
₹9
52-Week Low / High
₹8 / 14
TTM EPS
₹0.5
TTM Sales
₹38.5 Cr.
Book Value per Share
₹26.5
P/E Ratio
18.44
Higher than its 3-year historical median
Industry PE
42.3
Price to Book (P/B)
0.34
Lower than its 5-year historical median
Price to Sales (P/S)
0.69
Lower than its 5-year historical median
EV/EBITDA
3.83
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.59%
Underperforms industry median
Return on Capital Employed (ROCE)
4.68%
Underperforms industry median
Return on Assets (ROA)
1.74%
Operating Profit Margin
19.5%
Net Profit Margin
5.11%
Gross Profit Margin
18.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
4.76%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
31.23%
Pledged shares (%) of Promoter's holding (%)
30.41%
Reserves
₹48 Cr.
Equity
₹29.3 Cr.
Face Value
₹10
All Time Low / High
₹1.87 / 198.00

TGB Banquets And Hotels stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is TGB Banquets And Hotels Ltd a good quality company?
TGB Banquets And Hotels Ltd is a quality company, based on a 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 TGB Banquets And Hotels Ltd performance compare with that of its Peers?
Q.1 Revenue growth of TGB Banquets And Hotels Ltd vs industry peers?
TGB Banquets And Hotels Ltd revenue CAGR is 2.54%, compared to the industry median CAGR of 3.58%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of TGB Banquets And Hotels Ltd?
Promoters hold 31.23% of the TGB Banquets And Hotels Ltd, with 30.41% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of TGB Banquets And Hotels Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -18.7% based on the current price.

10 Year X-Ray :

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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
TGB Banquets And Hotels Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 1.3%3.2%-4.4%-31.3%1.5%-6.2%-22.3%3.9%-2.1%4.7%-
Value Creation
Index
-0.9-0.8-1.3-3.2-0.9-1.4-2.6-0.7-1.2-0.7-

Growth Parameters

Sales 13613711980.833.614.826.838.436.338.138
Sales YoY Gr.-0.3%-13.2%-32%-58.4%-56%81.1%43.3%-5.3%4.8%-
Adj EPS -4.8-1.9-1.9-16.60.5-1.8-4.50.5-1.20.70.5
YoY Gr.-NANANANA-468.8%NANA-324.5%NA-
BVPS (₹) 40.752.553.835.435.832.92626.525.32626.5
Adj Net
Profit
-14.1-5.5-5.4-48.61.4-5.2-13.21.6-3.521
Cash Flow from Ops. 31.631.5-55.5-2.2-3.3-0.3-42.44.910.210.5-
Debt/CF from Ops. 3.53.3-0.2-5.2-4-39.3-0.21.90.50.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -13.2%2.5%12.4%4.8%
Adj EPS NA6.9%NANA
BVPS-4.9%-6.2%-0.1%2.7%
Share Price -17.2% 2.5% -6.7% -27.2%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-11.1-4-3.5-37.21.3-5.2-15.32-4.62.61.9
Op. Profit
Mgn %
1719.1-14.6-42.3-43.7-14.4-3012.9-1.219.518
Net Profit
Mgn %
-10.3-4-4.6-60.24.2-35.1-49.34.1-9.65.23.7
Debt to
Equity
0.90.70.10.10.10.10.10.10.10.10
Working Cap
Days
3173344375741,0122,2421,4011,0481,034905425
Cash Conv.
Cycle
7889119101-38-91-2432736280

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales136.47136.86118.7480.8033.5814.7926.7838.3836.3338.06
Operating Expenses + 114.93112.35141.31123.0149.1421.2845.0533.6936.8530.68
Manufacturing Costs22.2321.0221.6115.452.791.402.662.863.813.58
Material Costs35.6739.6337.4329.089.235.0910.6015.5712.9810.51
Employee Cost 19.6821.4928.0916.945.462.183.704.7155.51
Other Costs 37.3630.2154.1961.5431.6612.6128.0910.5615.0711.08
Operating Profit 21.5424.51-22.57-42.21-15.56-6.49-18.284.68-0.527.38
Operating Profit Margin (%) 15.8%17.9%-19.0%-52.2%-46.3%-43.9%-68.3%12.2%-1.4%19.4%
Other Income + 2.252.804.490.3920.311.470.373.813.931.63
Exceptional Items 0013.700000000
Interest 18.7215.753.421.541.281.341.861.871.821.81
Depreciation 20.5119.464.942.753.0623.635.185.135.26
Profit Before Tax -15.44-7.90-12.75-46.100.42-8.36-23.391.44-3.541.93
Tax -0.20-1.28-13.298.14-0.44-0.12-3.010.080.02-0.02
Profit After Tax -15.24-6.620.54-54.250.86-8.25-20.371.36-3.561.94
PAT Margin (%) -11.2%-4.8%0.5%-67.1%2.6%-55.7%-76.1%3.6%-9.8%5.1%
Adjusted EPS (₹)-5.2-2.30.2-18.50.3-2.8-7.00.5-1.20.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of TGB Banquets & Hotel - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 119.45156.75157.59103.67104.8796.3576.2077.5974.1476.09
Share Capital 29.2929.2929.2929.2929.2929.2929.2929.2929.2929.29
Reserves 90.16127.46128.3074.3975.5867.0746.9248.3044.8546.80
Debt +92.6473.8411.8010.9212.7411.298.659.135.363.98
Long Term Debt74.5555.704.723.825.734.341.931.933.162.97
Short Term Debt18.0918.157.087.097.016.966.727.202.211.01
Minority Interest0000000000
Trade Payables19.2723.6623.6515.7913.5314.5011.908.764.715.32
Others Liabilities 97.66110.7451.0250.7933.6341.4636.0828.9024.0629.76
Total Liabilities 329.02365244.06181.16164.76163.61132.83124.37108.27115.15

Fixed Assets

Net Fixed Assets +197.07221.9378.0173.8170.8468.8520.4814.9611.1121.10
Gross Block290.43334.48112.87114.64114.46114.4720.4840.1941.2056.46
Accumulated Depreciation93.36112.5434.8640.8343.6245.62025.2330.0935.36
CWIP 0000000000
Investments 5555500000
Inventories30.1029.8222.4416.383.803.894.263.974.324.88
Trade Receivables25.4438.9346.198.2610.6410.1511.018.556.137.15
Cash Equivalents 5.246.095.623.771.390.610.910.510.292.20
Others Assets 66.1763.2286.8073.9573.0980.1196.1796.3986.4379.82
Total Assets 329.02365244.06181.16164.76163.61132.83124.37108.27115.15

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 31.6231.48-55.46-2.16-3.29-0.29-42.444.9010.2210.51
PBT -15.44-7.90-12.75-46.100.42-8.36-23.381.44-3.541.93
Adjustment 4035.60-1.3634.42-8.778.0214.253.280.145.77
Changes in Working Capital 7.065.08-37.7715.295.710.16-32.580.5313.623.18
Tax Paid 0-1.31-3.59-5.76-0.65-0.11-0.72-0.350-0.36
Cash Flow From Investing Activity + -0.070.02149.840.260.331.6550.210.04-0.22-0.52
Capex -0.60-0.40152.69-0.830.031.2449.85-0.30-1.12-0.66
Net Investments 00.28-3.010.77000000
Others 0.530.150.170.310.290.410.360.330.900.14
Cash Flow From Financing Activity + -34.30-28.58-94.850.050.58-2.13-7.47-5.35-10.22-8.07
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -14.60-18.85-50.971.391.91-1.40-2.4100.78-0.19
Interest Paid -18.70-15.70-3.19-1.39-1.24-1.14-1.05-0.87-1.12-1.46
Dividend Paid 0000000000
Others -15.96-40.690.05-0.080.40-4.01-4.48-9.87-6.42
Net Cash Flow -2.752.91-0.47-1.86-2.38-0.780.31-0.41-0.221.91

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-12.08-4.850.35-41.530.83-8.2-23.611.77-4.692.59
ROCE (%)1.343.23-4.38-31.31.46-6.22-22.323.86-2.074.68
Asset Turnover Ratio0.40.390.390.380.190.090.180.30.310.34
PAT to CFO Conversion(x)N/AN/A-102.7N/A-3.83N/AN/A3.6N/A5.42
Working Capital Days
Receivable Days68.5085.80130.80123102.70256.60144.309373.7063.70
Inventory Days80.5079.9080.3087.70109.7094.9055.5039.1041.6044.10
Payable Days197197.70230.70247.50579.301,004.70454.20242.10189.40174.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *31.4731.4731.4730.4130.4130.4130.4130.4130.4130.41
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

TGB Banquets And Hotels Ltd FAQs

The current trading price of TGB Banquets & Hotel on 24-Jun-2026 16:59 is ₹9.03.

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 23-Jun-2026 the market cap of TGB Banquets & Hotel stood at ₹26.45 Cr

The latest P/E ratio of TGB Banquets & Hotel as of 23-Jun-2026 is 18.44.

The latest P/B ratio of TGB Banquets & Hotel as of 23-Jun-2026 is 0.34.

The 52-week high of TGB Banquets & Hotel is ₹13.99 and the 52-week low is ₹7.60.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of TGB Banquets & Hotel is ₹38.48 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that TGB Banquets And Hotels Ltd is a below average quality company.

The key valuation ratios of TGB Banquets And Hotels Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of TGB Banquets And Hotels Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About TGB Banquets And Hotels Ltd

The Company Bhagwati Banquets and Hotels Ltd was initially incorporated as Pvt Ltd Company on 1st November, 1999 and its name was Bhagwati Banquets Pvt Ltd. The Company was subsequently converted into public Limited Company and its name was changed to Bhagwati Banquets And Hotels Ltd (BBHL) on 13th April 2000. BBHL has been incorporated with the main object to carry on the business of banquet halls, marriage halls, party halls and plots, hotels, restaurants, catering and cafe, taveran, refreshment room, entertainments, amusements, club, bath, grounds and places of recreation, sports, picnic places and hotel related services. W.e.f 17th October 2005 its registered office was shifted from “73, white House, Panchvati, Ellisbridge, C.G Road, Ahmedabad-380006” to “Plot No 380, S.G. Highway, Bodakdev, Ahmedabad-380054”.

The Grand Bhagwati was created to provide convenient, smart & value for money services, when it was felt there is a need for hassle free one-stop shop for all banqueting needs. There was a dearth of a well-equipped hotel, so 'The Grand Bhagwati' took shape and all the dining areas are column-less making it more spacious, practical & convenient for large gatherings.

At present it operates and manages one Hotel under the name “The Grand Bhagwati” and a chain of Restaurants at various locations in Ahmedabad.

It has one 100% subsidiary named Lov Kush Properties Pvt Ltd, four group Companies namely TGB Foods Pvt Ltd, Bhagwati Caterers Pvt Ltd, Bhagwati Eateries Pvt Ltd and Rising Hotel Ltd (Formerly known as Akash Hotel Ltd)

Having garnered a vast experience in catering to the food & beverage needs of local clients over a period of 10 years 'The Grand Bhagwati' has become a name to reckon, in providing valuable services without compromising on set standards.

The group’s first venture was a genuine “Delhi chat” outlet at Ahmedabad in 1990. The TGB Group diversified into outdoor catering in the mid nineties and met with instant success on account of their mouth watering preparations in Punjabi and Chinese cuisine which became popular with the non-Gujarati clientele of Surat and Ahmedabad. With a view to cope up with the increased business which involved organizing catering at 5 to 6 locations simultaneously both at Ahmedabad and other towns like Baroda, Surat, Bhavnagar, Rajkot etc. and streamlining the operations, Bhagwati established a centralized kitchen (food factory) in 1998 at Changodar, about 15 kms from Ahmedabad city. This revolutionary concept was brought under the banner of Bhagwati Caterers Pvt Ltd which was incorporated on 03/10/1997.

The outdoor catering success led to a pioneering venture in indoor catering. The TGB group opened a hotel at Ahmedabad namely “The Grand Bhagwati”, a three star deluxe hotel located at the Sarkhej Gandhinagar Highway which started its operations from June 2002. While there are 37 rooms, a restaurant and a coffee shop, its core competency and facility is banqueting. It possesses three banquet halls which can hold 5400 persons on two shift basis, all in air-conditioned comfort. It has a large lounge and a captive, easy parking facility to match the size of its banquet facility.                                          

Milestone

  • 1999 - The company was incorporated under the name “Bhagwati Banquets (P) Ltd”
  • 2000 - Company was converted from private to public limited company and name of the company was changed to “Bhagwati Banquets And Hotels Limited”.
  • 2002 - The operations at unit “The Grand Bhagwati” commenced
  • 2003 - ISO Certification from KPMG
  • 2005 - i) Company took over the business M/s Bhagwati International, a partnership firm. Bhagwati International was engaged in the business of running restaurants and food court.
  • ii) Company took over the entire business of M/s TGB Resorts Karnavati, a partnership firm. M/s. TGB Resorts Karnavati was engaged in the business of maintaining rooms & restaurants at Karnavati Club Ltd
  • iii) Company has also took over the Assets and entire business of outdoor catering of Bhagwati Caterers Private Limited.
  • 2005 - “The Grand Bhagwati’ was accredited with three star certification by HRACC Govt of India
  • 2006 - Company purchased the 100% Equity Shares of M/s Lov Kush Properties Pvt. Ltd making it wholly owned subsidiary of the company
  • 2007- Bhagwati Banquets and Hotels has decided to launch its catering services in Mumbai. Until now, the food and catering services was provided by the Ahmedabad and Surat offices. Because of the recent surge in business opportunities and inquiries for such exclusive and professional catering services, the company has taken such a step. The company has already started looking for premises to kickstart the operations

Achievements and Awards

  • Emerging India Award-2006 as “THE MOST PROMISING SMALL ENTERPRISE OF THE YEAR” given by CNBC TV-18, ICICI Bank- powered by Crisil.
  • National Award for Excellence in Hotel Management to its promoter Mr. Narendra G Somani on 24th April 2005 by UNO 2005.
  • Certificate of honour by appreciating efforts towards excellence in building the future Ahmedabad and dedication in teaming up for THE GIHED MOTTO to the Hotel “The Grand Bhagwati” by Gujarat Institute of Housing and estate developers in 2005.
  • Certificate of honour to Mr. Narendra Somani as “Young Entrepreneur” for his exemplary Services, Achievements and Contributions in the fields of Hospitality/ Catering.
  • AMA-Zydus Cadila “The marketing man of the year award – 2006” to Mr. Narendra Somani – by Ahmedabad Management Association.
  • 2003 - ISO Certification from KPMG2005 - 'The Grand Bhagwati' was accredited with three star certification by HRACC Govt of India
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