Benares Hotels share price, P/E, ROE & financials

Benares Hotels (BENARAS) had a P/E of 29.8× on 6 Nov 2026, above the industry P/E of 28.0×, and the shares are 11% below their 52-week high. Its ROCE of 26% is the second-highest among the 7 largest Lodging peers, and sales and net profit grew 14% and 23% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹1,324 Cr, ranked 17th of 54 Lodging companies by market cap; the shares fell 0.2% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹10,200.00
Day high: ₹10,251.00
Day low: ₹10,113.00
Prev. close: ₹10,250.00
Volume: 135

Health check

2 good · 3 fair · 1 to check

ReturnsIn line
−0.2% over a year, better than 4 of 7 peers.
Price tagIn line
P/E 29.8 vs industry 28.0.
GrowthSlow
Sales +14.2%, profit +22.7% a year over 3 years.
ProfitabilityStrong
ROCE 26.2% vs peer median 16.2%.
Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
Red flagsNone found
No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Lodging

53 listed peers. Screen the industry

Small cap

₹1,324 Cr, #17 of 54 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹156 Cr · profit ₹44 Cr

Market cap: ₹1,324 Cr; Small cap
P/E: 29.8; Industry 28.0
Price to book: 5.90; Peers 4.46
Dividend yield: 0.00%
ROE: 21.8%; Peers 16.5%
ROCE: 26.2%; Peers 16.2%
Debt to equity: 0.02; Debt ₹4.36 Cr
EPS (TTM): ₹341.42; Face value ₹10
OPM (TTM): 41.2%; Net margin 28.5%
Sales growth: +31.9%; Latest quarter vs a year ago
Profit growth: +7.9%; Latest quarter vs a year ago
Price to sales: 8.50; EV/EBITDA 19.4

Strengths

Return on equity of 21.8%.
Return on capital employed of 26.2%.
Practically debt-free.
Quarterly sales up 31.9% on a year ago.
Net margin of 28.5%.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Benares Hotels

Benares Hotels Limited operates hotels in India. It operates hotels under the Taj Ganges and Taj Nadesar Palace names in Varanasi and The Ginger Hotel name in Gondia, Maharashtra. The company was incorporated in 1971 and is headquartered in New Delhi, India.

Headquarters: New Delhi
Employees: 161
Sector: Consumer Cyclical
ISIN: INE664D01019
Website: benareshotelslimited.com

Price range

52 weeks

₹9,965.00₹11,499.00

Today

₹10,113.00₹10,251.00

Avg volume (3M): 123
1-year return: minus 0.2%
From 52-week high: minus 11.5%

Peers · Lodging

Compare with peers Screen the whole industry

Company
INDHOTELIndian Hotels Co.	888.00	plus 1.49%	1,26,401	57.2	9.27	17.4%	16.5%	32.9%	18.6%	27.6%	0.37%	plus 17.7%
THELEELALeela Palaces Hotels & Resorts	692.30	plus 0.37%	23,120	37.2	3.53	8.3%	7.2%	48.9%	21.1%	–	0.00%	plus 56.7%
EIHOTELEIH	313.05	plus 1.72%	19,577	27.5	3.72	16.2%	12.7%	34.1%	13.3%	25.9%	0.48%	minus 22.9%
CHALETChalet Hotels	810.70	minus 1.52%	17,754	30.1	4.46	16.6%	19.1%	44.1%	34.9%	52.1%	0.25%	minus 14.4%
VENTIVEVentive Hospitality	540.55	plus 1.53%	12,624	28.0	2.23	9.7%	8.3%	43.2%	13.0%	–	0.00%	minus 27.8%
LEMONTREELemon Tree Hotels	117.39	minus 0.12%	9,295	36.1	6.16	13.5%	17.8%	47.5%	16.3%	25.6%	0.00%	minus 30.0%
ITDCIndia Tourism Development Corporation	630.65	minus 0.30%	5,409	65.6	12.80	26.6%	21.1%	17.0%	4.6%	14.5%	0.47%	plus 3.2%
BENARASBenares Hotels	10,182.00	minus 0.66%	1,324	29.8	5.90	26.2%	21.8%	41.2%	14.2%	22.7%	0.00%	minus 0.2%
Median of 7 peers	–	0.37%	17,754	36.1	4.46	16.2%	16.5%	43.2%	16.3%	25.9%	0.25%	−14.4%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
25	–	41.6	48.6	33.9	31.5
15	–	22.1	26.8	21.4	21.3
10	–	19.5	21.8	12.5	10.2
40.1%	–	46.9%	44.9%	36.9%	32.3%
1.8	–	1	1.3	1.3	1.3
0.1	–	0.1	0.1	0.1	0.1
1.5	–	1.5	2.3	2.6	2.6
–	–	−0.1	–	–	–
10.2	–	18.9	20.7	11.1	8.7
25.6%	–	24.6%	26.0%	25.5%	25.0%
7.6	–	14.2	15.3	8.2	6.6
–	46.76	109.48	118.05	63.45	50.44

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +14.2%
Profit CAGR 3Y: +22.7%
EPS CAGR 3Y: +22.7%
ROE: 21.8%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
93.3	121	135	139
–	+29.2%	+12.4%	+2.7%
57.2	69.2	75.6	79
36.2	51.4	59.8	60.1
38.7%	42.6%	44.2%	43.2%
1.5	3.2	5.2	5.8
0.4	0.4	0.4	0.4
6	5.9	6	6.8
−0	−0.2	−0.5	−0.6
31.3	48.1	58.1	58.1
25.3%	25.0%	25.6%	25.5%
23.4	36	43.2	43.2
–	+54.2%	+20.0%	minus 0.0%
179.85	277.25	332.69	332.61

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.3	1.3	1.3	1.3
98.5	132	171	211
3.7	3.8	3.8	3.9
16.8	19.3	18.8	40.2
120	156	195	257
73.8	78.9	91.1	158
0.9	7.9	20.8	1.8
6.4	14.7	–	1.1
30	50.3	89.5	80.7
9.2	4.3	−6	14.9
120	156	195	257

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
27.8	40.5	41.9	48.7
−17.1	−25.3	−43.4	−58.8
−1.6	−2.9	−3.6	−3.6
9.1	12.3	−5.1	−13.6
−1.6	−11.1	−17.4	−60.1
26.2	29.4	24.5	−11.4
−1.3	−2.6	−3.3	−3.3

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company.

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you