Benares Hotels Limited (509438) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Benares Hotels Limited ₹5,644, price ₹10,230, upside -44.8%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹1,198 – ₹12,182 · fair‑value band ₹4,233 – ₹7,056 · the ₹10,230 price screens above the ₹5,644 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Benares Hotels Limited operates hotels in India. It operates hotels under the Taj Ganges and Taj Nadesar Palace names in Varanasi; and The Gateway Hotel name in Gondia. The company was incorporated in 1971 and is based in New Delhi, India. Benares Hotels Limited is a subsidiary of The Indian Hotels Company Limited.
Stock analysis
Benares Hotels Limited (509438) currently trades at ₹10,230, while our model-based Fair Value estimate is ₹5,644, 44.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹8,224 per share, and 1 of the 14 models we run sit above the ₹10,230 price.
Bear case: the Asset-Based group reads lowest at ₹1,096, and 13 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹4,233 (bear) to ₹7,056 (bull), the price of ₹10,230 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Benares Hotels Limited reported revenue of ₹1.4B in FY2026 versus ₹498M in FY2022, a compound +29.3%/yr. Reported net income was ₹432M in FY2026, compounding +66.3%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹1.6B (≈ $16.4M) · P/E ratio 55.0 · P/S ratio 17.1 · EPS (TTM) ₹21.47 · Dividend yield 0.6% · Net margin 31.1% · Return on equity 4.0% · Return on assets (EBIT) 22.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 10% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −28% fair-value upside, at −45%, 509438 screens richer than that median.
Fair Value models
Bear ₹4,233Fair Value ₹5,644Bull ₹7,056
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹7.12 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.8%
Start year 2021 (pandemic). Over 10 years: +10.7% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.2%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.7%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.39.7% vs 20.3%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−27% → 38%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Lodging · 159 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−44.8% · Bottom 25%
Profitability
Return on equity (TTM)4.0% · Above median
Return on assets2.7% · Above median
Net margin (TTM)6.3% · Below median
Operating margin (TTM)9.6% · Below median
Growth and dividend
Revenue growth−74.0% · Bottom 25%
Dividend yield (TTM)0.6% · Bottom 25%
Valuation Multiplesvs Lodging median · lower = cheaper
P/E (TTM)55.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)0· sector 28
PAST (return on equity)16· sector 15
HEALTH (low debt)0· sector 89
DIVIDEND (yield)13· sector 30
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Benares Hotels Limited (509438) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹5,644 versus a price of ₹10,230, about −45% upside (overvalued).
What is the fair value of 509438?
Our model-based fair value for Benares Hotels Limited is ₹5,644 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹10,230.
What is the quality score of 509438?
Benares Hotels Limited has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Benares Hotels Limited (509438)?
Our model-based price target is the fair value of ₹5,644 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario ₹4,233, optimistic scenario ₹7,056. It is a calculation from audited fundamentals, not an analyst target.
What is the Benares Hotels Limited stock forecast for 2026?
Our models put fair value at ₹5,644, about −45% upside versus a price of ₹10,230 (overvalued). Cautious scenario ₹4,233, optimistic scenario ₹7,056. The calculation is refreshed regularly with new filings.
Does Benares Hotels Limited pay a dividend?
Benares Hotels Limited currently shows a dividend yield of about 0.64% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Benares Hotels Limited (509438)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Benares Hotels Limited it is ₹5,644 per share (as of Sep 24, 2026), against a price of ₹10,230. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Benares Hotels Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 509438 trades above its calculated fair value: price ₹10,230, fair value ₹5,644, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 509438?
No. The price is what the market pays today (₹10,230); the fair value is what the company's own numbers justify (₹5,644). For Benares Hotels Limited the two are ₹4,586 per share apart. That gap is exactly why we show both numbers side by side.
How much is Benares Hotels Limited worth?
The market values Benares Hotels Limited at about ₹1.6B (market capitalisation, as of Sep 24, 2026). Per share that is ₹10,230; our models calculate a fair value of ₹5,644 per share.
What do the bullish and bearish scenarios say about 509438?
Our models span a range for Benares Hotels Limited: cautious scenario ₹4,233, base ₹5,644, optimistic ₹7,056 per share (as of Sep 24, 2026, price ₹10,230). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 509438?
Benares Hotels Limited trades at a price-to-earnings ratio of 55.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹5,644 is built from several models across several years.
How solid is the balance sheet of Benares Hotels Limited (509438)?
Balance-sheet figures for Benares Hotels Limited (as of Sep 24, 2026): return on equity 4.0%. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 509438 from its 52-week high?
Benares Hotels Limited trades at ₹10,230, about 8% below its 52-week high of ₹11,074 and 10% above the low of ₹9,281 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹5,644 is for.
Which stocks are comparable to Benares Hotels Limited?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, InterContinental Hotels Group, Hyatt Hotels Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Benares Hotels Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹10,230, calculated fair value ₹5,644 (−45%), Quality Score 45/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 509438 calculated?
We run Benares Hotels Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹5,644, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Benares Hotels Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Benares Hotels Limited (509438)?
The closing price on Oct 1, 2026 was ₹10,230. Our model-based fair value is ₹5,644, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Benares Hotels Limited right now?
The price sits above even our optimistic bull case (₹7,056). The favourable scenario is already priced in. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Benares Hotels Limited
How large is the market capitalisation of Benares Hotels Limited (509438)?
The market capitalisation of Benares Hotels Limited is ₹1.6B (≈ $16.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Benares Hotels Limited (509438)?
The price-to-sales ratio of Benares Hotels Limited is 17.1 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Benares Hotels Limited (509438)?
Earnings per share at Benares Hotels Limited are ₹21.47 (price ÷ EPS = P/E 55.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Benares Hotels Limited (509438)?
The dividend yield of Benares Hotels Limited is 0.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Benares Hotels Limited (509438)?
The net margin of Benares Hotels Limited is 31.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Benares Hotels Limited (509438)?
The return on equity (ROE) of Benares Hotels Limited is 4.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Benares Hotels Limited (509438)?
On an EBIT basis the return on assets of Benares Hotels Limited is 22.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Benares Hotels Limited (509438)?
The operating margin of Benares Hotels Limited is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Benares Hotels Limited (509438)?
Revenue at Benares Hotels Limited is growing −74.0% versus a year earlier (3y avg +14.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Benares Hotels Limited (509438) generate?
The free cash flow of Benares Hotels Limited is −₹114M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Benares Hotels Limited (509438) carry?
The net debt of Benares Hotels Limited is ₹42.7M (fiscal year 2021). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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