Benares Hotels Ltd
BENARASBenares Hotels Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.
The sharpest disagreement: annual EPS moved +20.0% against a −20.2% price move — the market has not yet caught up with the delivery.
The price is building a base (11 weeks in) while the P/E sits at the 64th percentile of its own 10-year range. Underneath, the last four quarters read mixed — profit +0.0% year on year, and 109% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Benares Hotels Ltd trades at ₹9,511, building a base and 11 weeks into that stage. That is −0.1% against its own 200-day average. It sits at 11% of a 52-week range of ₹9,220 to ₹11,756. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 9 straight weeks.
Today the stock is building a base — week 11 of stage 1, confirmed. At ₹9,511 it trades −0.1% versus its 200-day average and sits at 11% of its 52-week range (₹9,220–₹11,756).
Against the market, two honest reads. Cumulative: over the last 10.0 years the stock moved +851% while the NIFTY 500 moved +260% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 9 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Benares Hotels Ltd trades at 28.1× P/E, mid-range by its own standards (64th percentile). Its long-run median P/E is 25.4×, measured across 10.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 28.1× is mid-range by its own standards (64th percentile), against a long-run median of 25.4× measured over 10.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +20.0% against a −20.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +48.4%/yr price move, ~+73.5%/yr came from earnings growth and ~−25.1 pp from the multiple (compressing); over 10y, of the +25.3%/yr price move, ~+17.2%/yr came from earnings growth and ~+8.1 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Benares Hotels Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 37.0% — the per-curve reads carry the story. The read is built from 9 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.6% | +39.2% | +16.1% | +11.1% |
| Profit | +19.4% | +92.8% | +31.3% | +16.9% |
| EPS | +20.0% | +97.1% | +32.4% | +16.7% |
| Share price | −20.2% | +42.5% | +48.4% | +25.3% |
4-Factor Sector Score
58.3/100 — rank 6 of 24 in Hotels · 57% evidence confidence
Benares Hotels Ltd scores 58.3 out of 100 against the 24 companies it is compared with in Hotels, ranking 6. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 16.3 + 19 + 8.7 + 14.3 = 58.3. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Benares Hotels Ltd reported ₹42.0 Cr of revenue in the Dec 25 quarter, +7.7% year on year. Over 10 years it has compounded at 11.1% a year. The last full year, FY25, came in at ₹135 Cr. The last four reported quarters add to ₹140 Cr.
FY25 revenue came in at ₹135 Cr (+11.6% on the year), capping 10 years at 11.1% compound. The latest quarter (Dec 25) printed ₹42.0 Cr, +7.7% year on year.
Pace check: the last four quarters averaged +13.1% growth against the decade's 11.1% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +14.8% over the last 4 quarters against +11.3%/yr over the last 8 — accelerating; TTM profit +12.8% vs +17.3%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Benares Hotels Ltd's operating margin is 47.0% in the Dec 25 quarter, −1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 12 fiscal years the operating margin has ranged 2.0% to 44.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 47.0%, −1.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 2.0%–44.0%, and FY25's 44.0% is the top of that band — a record year.
🚨 Why the margin moved: operating margin went −1.2 pp year on year while gross margin went +0.6 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Benares Hotels Ltd earned ₹14.0 Cr of net profit in the Dec 25 quarter, +0.0% year on year. Full-year FY25 profit was ₹43.0 Cr. The 10-year compound rate is 16.9%. That is 33.3% of the quarter's revenue. The same quarter a year earlier earned ₹14.0 Cr.
Dec 25 profit was ₹14.0 Cr, +0.0% year on year. On the full year, FY25 printed ₹43.0 Cr (+19.4%), and the 10-year compound rate is 16.9%.
🚨 Why profit moved: revenue contributed +7.7% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +13.1% vs revenue +13.1%. Profit and revenue are moving roughly in step.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 109% of Benares Hotels Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹42.0 Cr of operating cash against ₹43.0 Cr of profit. After ₹19.0 Cr of capital spending, ₹23.0 Cr was left as free cash.
FY25: operating cash of ₹42.0 Cr against reported profit of ₹43.0 Cr, leaving free cash of ₹23.0 Cr after ₹19.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 109% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 109%: the cash cycle stretched 257 days between FY20 and FY25 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 1.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Benares Hotels Ltd's cash conversion cycle runs 11 days in FY25, up from −246 days in FY20. Capital spending ran ₹29.0 Cr over the last 3 years. At FY25 sales of ₹135 Cr each day of that cycle holds about ₹0.4 Cr, so roughly ₹4.0 Cr sits inside the business at any moment.
FY25: debtors at 11 days (an asset-light business — no inventory to speak of) — for a full cycle of 11 days, looser than FY20's −246.
In money terms: at FY25 sales of ₹135 Cr, each day of the cycle holds about ₹0.4 Cr — so the 11-day loop keeps roughly ₹4.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹29.0 Cr over the last 3 fiscal years against ₹18.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹19.0 Cr (FY25) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Benares Hotels Ltd earns a ROCE of 37% in FY25. That is up from a trough of −7% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 31.9% net margin on 0.69× asset turns.
FY25 ROCE is 37%, recovered from a FY21 trough of −7% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY25): 31.9% net margin × 0.69× asset turns × 1.13× balance-sheet leverage ≈ 24.9% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Benares Hotels Ltd carries ₹4.0 Cr of borrowings against ₹172 Cr of equity in FY25, a debt-to-equity of 0.02. Over 5 years borrowings went from ₹9.0 Cr to ₹4.0 Cr. Capital spending ran ₹29.0 Cr across the last 3 of those years.
FY25: borrowings of ₹4.0 Cr against equity of ₹172 Cr — a debt-to-equity of 0.02. Over 5 years borrowings went from ₹9.0 Cr to ₹4.0 Cr while capital spending ran ₹29.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Benares Hotels Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.0 points over 8 quarters to 62.6%; Foreign institutions: +0.0 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Benares Hotels Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Chalet Hotels LtdCHALET | 67.7/100Favorable setup94% evidence | TURNING | 25.0/35 Revenue 6% · PAT 85.3% · OPM change 6 pp 100% evidence | 15.3/25 ROCE 17.1% · OPM 46% 100% evidence | 16.6/20 P/E 33.2× · PEG 0.83 100% evidence | 10.8/20 RS sector 3.6% · RS bench -7% · 1Y -11.8%2 of 10 weeks ahead 70% evidence |
| Exact sum: 25 + 15.3 + 16.6 + 10.8 = 67.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Travel Food Services LtdTRAVELFOOD | 64.3/100Mixed-positive evidence65% evidence | TURNING | 19.8/35 Revenue -2.4% · PAT 19.2% · OPM change 3 pp 83% evidence | 21.0/25 ROCE 42.4% · OPM 40% 76% evidence | 9.0/20 P/E 38.9× · PEG — 15% evidence | 14.5/20 RS sector 7.5% · RS bench 2.9% · 1Y 12.9%1 of 12 weeks ahead 70% evidence |
| Exact sum: 19.8 + 21 + 9 + 14.5 = 64.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Indian Hotels Co LtdINDHOTEL | 62.3/100Mixed-positive evidence82% evidence | BREAKING OUT | 19.2/35 Revenue 13.2% · PAT 9.5% · OPM change 1 pp 95% evidence | 16.4/25 ROCE 17.1% · OPM 29% 76% evidence | 9.7/20 P/E 54.1× · PEG — 50% evidence | 17.0/20 RS sector 8.7% · RS bench 3.8% · 1Y -1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 19.2 + 16.4 + 9.7 + 17 = 62.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Oriental Hotels LtdORIENTHOT | 62.0/100Mixed-positive evidence93% evidence | BREAKING OUT | 17.5/35 Revenue 6.9% · PAT 41.1% · OPM change -2.8 pp 100% evidence | 10.8/25 ROCE 12.1% · OPM 21% 100% evidence | 13.8/20 P/E 35× · PEG 0.66 65% evidence | 19.9/20 RS sector 18.8% · RS bench 12.9% · 1Y -10.3%8 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 10.8 + 13.8 + 19.9 = 62 · Decision use: Price leads the evidence: RS versus the benchmark is 12.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 5Asian Hotels (West) LtdAHLWEST | 61.2/100Mixed-positive evidence62% evidence | TURNING | 21.9/35 Revenue 6.1% · PAT 62.5% · OPM change 5 pp 62% evidence | 19.6/25 ROCE 19.7% · OPM 45% 95% evidence | 11.4/20 P/E 7.7× · PEG — 15% evidence | 8.3/20 RS sector -25% · RS bench 47.5% · 1Y —4 of 4 weeks ahead 70% evidence |
| Exact sum: 21.9 + 19.6 + 11.4 + 8.3 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Benares Hotels Ltdthis pageBENARAS | 58.3/100Thin evidence · provisional57% evidence | 16.3/35 Revenue 14.8% · PAT 12.8% · OPM change -1 pp 53% evidence | 19.0/25 ROCE 37.3% · OPM 47% 57% evidence | 8.7/20 P/E 28.1× · PEG — 50% evidence | 14.3/20 RS sector 12.1% · RS bench -0.8% · 1Y -1.9%4 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 16.3 + 19 + 8.7 + 14.3 = 58.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 7TajGVK Hotels & Resorts LtdTAJGVK | 57.7/100Mixed-positive evidence87% evidence | TURNING | 21.4/35 Revenue 22.5% · PAT 100% · OPM change 0 pp 100% evidence | 12.3/25 ROCE 13.2% · OPM 30% 100% evidence | 16.0/20 P/E 15.9× · PEG 0.43 65% evidence | 8.0/20 RS sector -3.6% · RS bench -3.8% · 1Y -11.7%4 of 11 weeks ahead 70% evidence |
| Exact sum: 21.4 + 12.3 + 16 + 8 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Leela Palaces Hotels & Resorts LtdTHELEELA | 57.0/100Mixed-positive evidence87% evidence | BREAKING OUT | 24.4/35 Revenue 19.1% · PAT 100% · OPM change -1 pp 100% evidence | 8.2/25 ROCE 8.7% · OPM 36% 100% evidence | 8.0/20 P/E 36.8× · PEG 1.65 65% evidence | 16.4/20 RS sector 17.1% · RS bench 12.3% · 1Y 11.1%7 of 12 weeks ahead 70% evidence |
| Exact sum: 24.4 + 8.2 + 8 + 16.4 = 57 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9EIH LtdEIHOTEL | 51.2/100Mixed-positive evidence72% evidence | TURNING | 11.0/35 Revenue 7.2% · PAT -14.7% · OPM change -5 pp 83% evidence | 18.9/25 ROCE 20.7% · OPM 37% 76% evidence | 12.7/20 P/E 28.6× · PEG — 50% evidence | 8.6/20 RS sector -1.2% · RS bench -7.2% · 1Y -12.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 11 + 18.9 + 12.7 + 8.6 = 51.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Lemon Tree Hotels LtdLEMONTREE | 50.2/100Mixed-positive evidence65% evidence | ASLEEP | 18.8/35 Revenue 12.3% · PAT 18.5% · OPM change -2 pp 83% evidence | 16.5/25 ROCE 14% · OPM 52% 76% evidence | 9.6/20 P/E 34.9× · PEG — 15% evidence | 5.3/20 RS sector -8.5% · RS bench -20.8% · 1Y -28.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 18.8 + 16.5 + 9.6 + 5.3 = 50.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Ventive Hospitality LtdVENTIVE | 49.3/100Mixed-negative evidence71% evidence | ASLEEP | 22.5/35 Revenue 53.3% · PAT 100% · OPM change -1 pp 83% evidence | 12.9/25 ROCE 10.8% · OPM 49% 76% evidence | 9.7/20 P/E 33.9× · PEG — 15% evidence | 4.2/20 RS sector -6.4% · RS bench -10.6% · 1Y -17.9%1 of 12 weeks ahead 100% evidence |
| Exact sum: 22.5 + 12.9 + 9.7 + 4.2 = 49.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12ITC Hotels LtdITCHOTELS | 49.1/100Mixed-negative evidence93% evidence | ASLEEP | 23.1/35 Revenue 16.1% · PAT 26.9% · OPM change 1 pp 100% evidence | 10.2/25 ROCE 11.2% · OPM 31% 100% evidence | 11.0/20 P/E 36.7× · PEG 1.15 65% evidence | 4.8/20 RS sector -10.5% · RS bench -15.1% · 1Y -32.5%3 of 12 weeks ahead 100% evidence |
| Exact sum: 23.1 + 10.2 + 11 + 4.8 = 49.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.5% and the one-year return is -32.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 13Samhi Hotels LtdSAMHI | 48.9/100Mixed-negative evidence79% evidence | TURNING | 16.4/35 Revenue 11.1% · PAT 100% · OPM change -6 pp 88% evidence | 5.9/25 ROCE 8.9% · OPM 32% 100% evidence | 11.2/20 P/E 9.7× · PEG — 15% evidence | 15.4/20 RS sector 4.6% · RS bench -0.5% · 1Y -23.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 16.4 + 5.9 + 11.2 + 15.4 = 48.9 · Decision use: Price leads the evidence: RS versus the benchmark is -0.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 14Juniper Hotels LtdJUNIPER | 48.4/100Mixed-negative evidence89% evidence | BASING | 23.4/35 Revenue 10.8% · PAT 98.6% · OPM change 2 pp 88% evidence | 10.4/25 ROCE 8.1% · OPM 44% 100% evidence | 11.1/20 P/E 25× · PEG 1.3 65% evidence | 3.5/20 RS sector -14.1% · RS bench -18.3% · 1Y -37.4%0 of 12 weeks ahead 100% evidence |
| Exact sum: 23.4 + 10.4 + 11.1 + 3.5 = 48.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.1% and the one-year return is -37.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 15U P Hotels LtdUPHOT | 48.0/100Thin evidence · provisional57% evidence | 11.4/35 Revenue 6% · PAT 0% · OPM change -5 pp 53% evidence | 17.1/25 ROCE 23.6% · OPM 38% 57% evidence | 10.2/20 P/E 25.8× · PEG — 50% evidence | 9.3/20 RS sector 1.2% · RS bench -10.6% · 1Y -21.2%0 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 11.4 + 17.1 + 10.2 + 9.3 = 48 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 16EIH Associated Hotels LtdEIHAHOTELS | 45.6/100Mixed-negative evidence77% evidence | ASLEEP | 8.5/35 Revenue -6.1% · PAT -4.3% · OPM change -4 pp 83% evidence | 16.9/25 ROCE 21.2% · OPM 39% 95% evidence | 12.7/20 P/E 21× · PEG — 50% evidence | 7.5/20 RS sector -1.9% · RS bench -11.4% · 1Y -19.9%0 of 10 weeks ahead 70% evidence |
| Exact sum: 8.5 + 16.9 + 12.7 + 7.5 = 45.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Sayaji Hotels LtdSAYAJIHOTL | 44.5/100Thin evidence · provisional59% evidence | 15.9/35 Revenue 7.6% · PAT -80% · OPM change 12 pp 62% evidence | 4.2/25 ROCE 0% · OPM 19.3% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 14.4/20 RS sector 9.1% · RS bench -0.3% · 1Y -3.2%2 of 11 weeks ahead 70% evidence | |
| Exact sum: 15.9 + 4.2 + 10 + 14.4 = 44.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 18Viceroy Hotels LtdVHLTD | 44.2/100Mixed-negative evidence79% evidence | ASLEEP | 21.0/35 Revenue 24.4% · PAT -69.2% · OPM change 10.8 pp 71% evidence | 7.5/25 ROCE 7.1% · OPM 25.6% 95% evidence | 5.9/20 P/E 39.8× · PEG — 50% evidence | 9.8/20 RS sector 3.7% · RS bench -0.1% · 1Y 27.5%0 of 12 weeks ahead 100% evidence |
| Exact sum: 21 + 7.5 + 5.9 + 9.8 = 44.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Kamat Hotels (India) LtdKAMATHOTEL | 44.0/100Mixed-negative evidence77% evidence | ASLEEP | 12.9/35 Revenue 8.4% · PAT -17.4% · OPM change 2 pp 83% evidence | 16.1/25 ROCE 15.8% · OPM 29% 95% evidence | 11.5/20 P/E 11.5× · PEG — 50% evidence | 3.5/20 RS sector -20.6% · RS bench -25.4% · 1Y -32.2%2 of 11 weeks ahead 70% evidence |
| Exact sum: 12.9 + 16.1 + 11.5 + 3.5 = 44 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Asian Hotels (North) LtdASIANHOTNR | 42.1/100Thin evidence · provisional53% evidence | ASLEEP | 16.8/35 Revenue 81.1% · PAT 100% · OPM change -9 pp 36% evidence | 4.3/25 ROCE 3.5% · OPM 23% 95% evidence | 8.5/20 P/E 474× · PEG — 15% evidence | 12.5/20 RS sector 8.5% · RS bench -4.8% · 1Y -15.7%2 of 10 weeks ahead 70% evidence |
| Exact sum: 16.8 + 4.3 + 8.5 + 12.5 = 42.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 21Royal Orchid Hotels LtdROHLTD | 37.5/100Mixed-negative evidence77% evidence | ASLEEP | 13.5/35 Revenue 20.3% · PAT -29.8% · OPM change -0.4 pp 83% evidence | 11.2/25 ROCE 10.8% · OPM 22.6% 95% evidence | 8.2/20 P/E 27.7× · PEG — 50% evidence | 4.6/20 RS sector -9.8% · RS bench -21.2% · 1Y -26%0 of 10 weeks ahead 70% evidence |
| Exact sum: 13.5 + 11.2 + 8.2 + 4.6 = 37.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Apeejay Surrendra Park Hotels LtdPARKHOTELS | 32.2/100Adverse evidence83% evidence | ASLEEP | 11.1/35 Revenue 11.7% · PAT -22.6% · OPM change -6 pp 88% evidence | 11.3/25 ROCE 9.4% · OPM 29% 100% evidence | 3.9/20 P/E 39.1× · PEG 3.5 65% evidence | 5.9/20 RS sector -9.8% · RS bench -8.2% · 1Y -20.7%1 of 10 weeks ahead 70% evidence |
| Exact sum: 11.1 + 11.3 + 3.9 + 5.9 = 32.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Advent Hotels International LtdADVENTHTL | 44.9/100Thin evidence · provisional43% evidence | ASLEEP | 16.2/35 Revenue — · PAT — · OPM change -10.6 pp 45% evidence | 7.9/25 ROCE 6.8% · OPM 37.8% 95% evidence | 10.8/20 P/E 16.4× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence |
| Exact sum: 16.2 + 7.9 + 10.8 + 10 = 44.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 24HLV LtdHLVLTD | 41.2/100Thin evidence · provisional38% evidence | 17.9/35 Revenue -26.1% · PAT 100% · OPM change — 16% evidence | 8.6/25 ROCE 7.8% · OPM -39% 60% evidence | 11.5/20 P/E 2.8× · PEG — 15% evidence | 3.2/20 RS sector -29.5% · RS bench -24.8% · 1Y -43.6%1 of 8 weeks ahead 70% evidence | |
| Exact sum: 17.9 + 8.6 + 11.5 + 3.2 = 41.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Benares Hotels Ltd's share price today?
Benares Hotels Ltd trades at ₹9,511, −20.2% over the past year. The company is valued at ₹1,236 Cr. The stock sits at 11% of its 52-week range of ₹9,220–₹11,756, −0.1% versus its 200-day average. On the tape, the price is building a base, 11 weeks in. — as of 31 July 2026.
What were Benares Hotels Ltd's latest quarterly results?
Benares Hotels Ltd reported revenue of ₹42.0 Cr and net profit of ₹14.0 Cr for the Dec 25 quarter. Revenue rose 7.7% and profit rose 0.0% year on year. Earnings per share were ₹109.46. The operating margin was 47.0%, 1.0 pp lower than a year earlier. — as of 31 July 2026.
What is Benares Hotels Ltd's revenue?
Benares Hotels Ltd reported revenue of ₹42.0 Cr in the Dec 25 quarter, +7.7% year on year. For the full FY25 fiscal year, revenue was ₹135 Cr (+11.6%). Over the last 10 years revenue compounded at 11.1% a year. — as of 31 July 2026.
What is Benares Hotels Ltd's profit?
Benares Hotels Ltd earned ₹14.0 Cr of net profit in the Dec 25 quarter, +0.0% year on year. Full-year FY25 profit was ₹43.0 Cr. The operating margin ran 47.0% in the latest quarter. — as of 31 July 2026.
What is Benares Hotels Ltd's market cap?
Benares Hotels Ltd's market capitalisation is ₹1,236 Cr at a share price of ₹9,511. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Benares Hotels Ltd's P/E ratio?
Benares Hotels Ltd trades at a P/E of 28.1×, at the 64th percentile of its own 10-year range, against a long-run median of 25.4×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Benares Hotels Ltd pay a dividend?
Yes — Benares Hotels Ltd's dividend payout was 8% of profit in FY25, and it recorded a payout in 11 of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is Benares Hotels Ltd overvalued?
On its own history, Benares Hotels Ltd looks mid-range against its own history: its P/E of 28.1× sits at the 64th percentile of its 10-year range (long-run median 25.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
Is Benares Hotels Ltd growing?
The picture is mixed for Benares Hotels Ltd: latest-quarter revenue +7.7% year on year, profit +0.0%, and the margin −1.0 pp at 47.0%. The 10-year compound rates are 11.1% (revenue) and 16.9% (profit). The earnings engine currently reads: mixed — as of 31 July 2026.
How is Benares Hotels Ltd performing?
Benares Hotels Ltd is building a base, 11 weeks in. Its latest quarter's revenue rose 7.7% and profit rose 0.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 9 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Benares Hotels Ltd in?
Mixed — no clean majority across the growth curves, ROCE holding at 37.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +7.7% latest, profit growth +0.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Benares Hotels Ltd in an uptrend?
No — the price is building a base (week 11 of stage 1), trading −0.1% versus its 200-day average and at 11% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Benares Hotels Ltd beating the market?
On recent form, yes — Benares Hotels Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 9 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.0 years the stock moved +851% against the NIFTY 500's +260% — ahead of the index over the full window. — as of 31 July 2026.
Will Benares Hotels Ltd's share price go up?
This page publishes no price forecast for Benares Hotels Ltd. What it measures instead: the share price is ₹9,511, the price is building a base 11 weeks in. Its P/E of 28.1× sits at the 64th percentile of its own 10-year range. — as of 31 July 2026.
Who owns Benares Hotels Ltd?
Promoters hold 62.6% of Benares Hotels Ltd, foreign institutions 0.0%, domestic institutions 0.0% and the public 37.4% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.
Does Benares Hotels Ltd have too much debt?
No — Benares Hotels Ltd's debt-to-equity is 0.02, and operating profit covers the interest bill 15×. FY25 borrowings were ₹4.0 Cr against equity of ₹172 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.
What is Benares Hotels Ltd's capex?
Benares Hotels Ltd spent ₹29.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was ₹19.0 Cr, with ₹19.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Benares Hotels Ltd's cash flow?
Benares Hotels Ltd generated ₹42.0 Cr of operating cash flow in FY25 and ₹23.0 Cr of free cash flow after ₹19.0 Cr of capital spending. Reported profit that year was ₹43.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Benares Hotels Ltd's profit real cash?
Yes — over the last 3 fiscal years, 109% of Benares Hotels Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹42.0 Cr against reported profit of ₹43.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Benares Hotels Ltd in its business cycle?
Benares Hotels Ltd's FY25 operating margin was 44.0%, against a 12-year band of 2.0%–44.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 47.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Benares Hotels Ltd story?
The sharpest disagreement: annual EPS moved +20.0% against a −20.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Benares Hotels Ltd a stock worth studying right now?
This is not investment advice. The machine read: Benares Hotels Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.