Benares Hotels Ltd

CFO Appointment

• Type: Appointment of CFO (KMP) — Mr. Thomas Kunjukunju.
• Effective date: 14 July 2026; term as per employment terms.
• Profile: 30+ years hotelier; MBA/PGDBM; led teams at The Claridges, Taj Exotica Goa, Taj Cochin.
• Disclosure: Not Applicable.
• Reason: Appointment as CFO.

Financial highlights

• Revenue INR 35.2 Cr in Q1 FY27 vs INR 26.8 Cr in Q1 FY26
• EBITDA INR 13.8 Cr in Q1 FY27 vs INR 11.8 Cr in Q1 FY26
• PAT INR 8.2 Cr in Q1 FY27 vs INR 7.6 Cr in Q1 FY26
• EBITDA margin 39% in Q1 FY27
• Driver: 100 additional rooms at Taj Ganges

Outlook and drivers

• Outlook for the year remains strong driven by upcoming seasonal demand

Key financial results

• Board approved unaudited standalone results for quarter ended June 30, 2026.
• Limited Review Report accompanies the results.
• Results prepared in Ind AS 34.

Governance — appointment

• Thomas Kunjukunju appointed Chief Financial Officer, effective 14 July 2026.

Disclosure / publication

• Results to be published in English and vernacular newspapers and hosted on the company's website.

Auditor remarks

• Independent Auditor’s Review concluded no material misstatement.

Dematerialisation/Rematerialisation status

• Details of dematerialised/rematerialised securities for the period were furnished to all listed exchanges.
• Securities dematerialised/rematerialised have been listed on exchanges where earlier securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled after verification; depository names substituted as registered owner per timeline.

Meeting Details

• Board meeting scheduled for Tuesday, July 14, 2026.

Key Agenda Items

• Unaudited financial results for the quarter ended June 30, 2026 to be taken on record.

Other Notes

• Trading window closed from June 24, 2026 to July 16, 2026; reopens 48 hours after results declaration.

AGM and annual report

• 55th AGM slated for 23 July 2026 at 3:00 PM IST via VC/OAVM.
• Notice and FY2025-26 Annual Report sent by email to registered members.
• Annual Report available on company website and NSDL/Exchange portals.
• Record date for dividend: 16 July 2026.
• e-voting window: 19 July 2026 09:00 to 22 July 2026 17:00 IST.
• Dividend payment date: from 3 August 2026.

Financials

• Total income 14,490.33 Lakhs; up from 14,066.82.
• EBITDA 6,543.00 Lakhs; vs 6,452.00 last year.
• Profit after tax 4,323.89 Lakhs; nearly flat vs 4,324.95.
• Total comprehensive income 4,316.39 Lakhs; up from 4,296.95.
• Retained earnings 18,964.90 Lakhs; up from 14,973.51.
• Net worth 21,262.98 Lakhs; up from 17,271.59.
• Earnings per share 332.61; down slightly from 332.69.
• Dividend proposed: Rs 25 per share; record date 16 Jul 2026.
• Capex 6,009.81 Lakhs; Taj Ganges adds 100 rooms.

Expansion & Capacity

• Taj Ganges, Varanasi added 100 rooms; total inventory 230.
• Phased occupancy ramp; long-term revenue visibility positive.
• Demand from leisure, weddings, pilgrimage, and corporate events supports growth.
• Capex enables higher room-nights and ancillary revenue from F&B and banquets.

Dividends & Capital Allocation

• Dividend paid FY2025-26: Rs 325 Lakhs.
• Final dividend proposed: Rs 25 per share; cash outflow ~Rs 325 Lakhs.
• Record date: 16 July 2026; payout subject to AGM approval.

Governance & Board

• CEO change: Vishal Singh resigned 25 Nov 2025; Sumit Singh appointed 24 Feb 2026.
• New Independent Directors: Rajendra Misra and Anupam Chaturvedi appointed 29 Apr 2026.
• Board: six NEDs; three Independent; one Woman Director.
• BSE penalty Rs 76,700 for Reg 17(1); paid; vacancy caused non-compliance.

Audit & Internal Controls

• Auditors PKF Sridhar & Santhanam; no qualifications; no fraud reported.
• Secretarial audit: DS Associates; one observation on penalty and corrective action.
• Internal controls adequate; going concern status maintained.

Risk & Compliance

• Key audit matter: PPE impairment testing for one hotel unit; recoverable amount via DCF.
• Risks from climate, cyber, regulatory changes; mitigated by ESG initiatives and governance.

CSR & Sustainability

• CSR expenditure 92.69 Lakhs; 2% of average net profit 92.68 Lakhs.
• CSR focus on livelihoods, disaster management, and community welfare.

Shareholding & Disclosures

• IHCL holds 49.53%; promoter group 62.58% as of March 31, 2026.
• Top holders include Investor Education & Protection Fund.
• ISIN INE664D01019; dematerialised shares; RTA MUFG Intime India Private Limited.