Benares Hotels is a lesser-known Tata Group-backed company which is backed by its flagship Indian Hotels. This hidden Tata stock has made an extraordinary journey in the long term, trading from below Rs 100 once upon a time, to even hitting the Rs 10,000 mark. With a smallcap status, the stock is near Rs 8,000 currently and will be in focus this week due to its highest-ever dividend payout.
Benares Hotels Share Price:
The hotel stock is at Rs 7972.20 apiece on BSE, with a market cap of Rs 1,036.39 crore. The stock's 52-week high and low is at Rs 10,051 apiece and Rs 4,439 respectively.
YTD, the stock has dipped by nearly 14% on BSE. However, on a year-on-year basis, the upside is around 59%. Further, in 5 years, the stock emerged as a multibagger with gains of 509%. But Benares' all-time gains are a whopping 8,147.01%. The stock was merely at Rs 97 in July 1995.
Benares Hotels Dividend:
The company has announced its highest-ever dividend payout of 250% worth Rs 25 per share for FY24. The record date for the upcoming reward is fixed on August 22, 2024. Accordingly, Benares shares will turn ex-dividend this week.
As per its regulatory filing, if the dividend as recommended by the Board of Directors is approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made on or after Tuesday, September 10, 2024 ---
- To all Beneficial Owners in respect of shares held in electronic form as per the data as may be made available by the National Securities Depository Limited and the Central Depository Services (India) Limited as at the close of business hours on Thursday, August 22, 2024; and
- To all those Members holding shares in physical form, whose names appear in the Company's Register of Members after giving effect to valid transmission or transposition requests lodged with the Company as at the close of business hours on Thursday, August 22, 2024.
Earlier, in FY23, the company delivered a dividend of 200% worth Rs 20 per share, while in FY22, the payout was 100% valuing Rs 10 per share.
Benares Hotels Earnings:
In Q1FY25, the company posted revenue of Rs 24.35 crore versus Rs 26.11 crore in the same quarter a year ago, while PAT is at Rs 6.43 crore which was gradually up from Rs 6.30 crore in Q1FY24. Additionally, EBITDA is at Rs 10.19 crore in Q1FY25, versus Rs 10.04 crore in Q1FY24.
Dr Anant Narain Singh, Chairman, of Benares Hotels Limited (BHL) said, "Despite a muted revenue performance, quarter one clocked an EBITDA margin of 42%, a 300-basis points expansion over the previous year. With the upcoming wedding season and expected recovery of foreign tourist arrivals, the revenue outlook for quarters ahead remains strong."
Benares Hotels Limited (BHL) is a listed public limited company incorporated in 1971. The Company operates its hotels, viz. Taj Ganges and Taj Nadesar Palace in Varanasi and Ginger, Gondia in Maharashtra. The company became a subsidiary of The Indian Hotels Company Limited (IHCL) in 2011.
Among key fundamentals as per Trendlyne data are:
- Stock Price rose 57.18% and outperformed its sector by 2.5% in the past year.
The debt to Equity Ratio is zero as the company is debt-free.
- Mutual Fund Holding remained the same in the last quarter at 0%.
- Return on Equity(ROE) for the last financial year was 27.1%, more than 20% in the last financial year, indicating an efficient use of shareholder's capital to generate profit.
- Price to Earning Ratio is 28.65, lower than its sector PE ratio of 69.5.
- Promoter Share Holding stayed the same in the most recent quarter at 62.57%.
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