Outcome of Board Meeting held on 16.10.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Benares Hotels (operator of Taj Ganges, Varanasi) approved the unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025). Income from operations for Q2 FY26 stood at ₹2,389.57 lakhs, down about 2.4% from ₹2,447.38 lakhs in Q2 FY25, while H1 FY26 revenue grew modestly to ₹4,891.04 lakhs versus ₹4,747.80 lakhs a year ago (~3% YoY). Profit after tax for Q2 fell sharply to ₹607.85 lakhs from ₹720.27 lakhs (-15.6%), with H1 PAT nearly flat at ₹1,366 lakhs versus ₹1,363 lakhs. Employee costs surged around 19% YoY in Q2, squeezing operating margins. Statutory auditor PKF Sridhar & Santhanam LLP issued a clean (unmodified) Limited Review Report. Capital expenditure jumped to ₹1,947 lakhs in H1 (vs ₹839 lakhs a year ago), reflecting ongoing expansion/renovation at the property.
Weak quarterly earnings and margin compression from rising staff costs may weigh on the stock in the near term, but the clean audit report and strong ongoing capex (likely aimed at upgrading the Taj Ganges asset) signal confidence in future growth. The half-year picture is broadly stable rather than alarming.