NSE: TGBHOTELS · BSE: 532845
TGB BANQUETS&HOTELS LTD
Operates banquet halls and hotels out of Ahmedabad, earning revenue from venue rentals for weddings, social events and conferences, plus room rentals and food and beverage services from hotel operations. In FY26, the business posted revenue of 38.48 crore with a net profit of 1.43 crore, translating to an EBITDA margin of 21.05%. The cost mix is dominated by other operating expenses at 40% of revenue, materials and supplies at 23.9%, employee costs at 18% and depreciation at 13.6%, reflecting the asset-heavy, people-intensive nature of running banquet halls and hotels. For Q1 FY27 (quarter ended June 2026), revenue from operations came in at 832.86 lakh, down from 887.13 lakh in the same quarter a year earlier, while net profit rose marginally to 19.40 lakh from 18.39 lakh. Total bank facilities stand at 5.28 crore, comprising a 5.15 crore cash credit line from Indian Overseas Bank and a 0.13 crore bank guarantee from State Bank of India, with a CARE B+ rating and Stable outlook. Narendra Gurmukhdas Somani serves as Chairman and Managing Director, heading the promoter group. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Banquets and events, Hotel operations. Asset-heavy hospitality and banqueting business with high depreciation and material costs
Exhibit 1: Financial summary, FY19–FY20 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY20 |
|---|---|---|
| Revenue | 80 | 34 |
| EBITDA (ex other income) | (48) | (16) |
| margin % | (60.4) | (46.4) |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | (18.41) | 0.29 |
| ROE % · ROCE % | (54.0) · (41.1) | 0.8 · 1.5 |
| Debt / equity (x) | 0.11 | 0.13 |
| Cash from operations | — | — |
| Capex | — | — |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY19 | Q1 FY20 | Q2 FY20 | Q3 FY20 | Q4 FY20 | Q1 FY21 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 7 | 7 | 9 | 9 | 1 |
| Profit before tax | 0 | 0 | 0 | 1 | (1) | (2) |
| Net profit | 0 | 0 | 0 | 1 | (0) | (2) |
| EPS (₹) | 0.00 | 0.12 | 0.14 | 0.17 | (0.14) | (0.65) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,14,612 | 53.4 | 7.67 | 30.4 | 15.0 | 16.2 | 43.8 | 32.2 |
| ITC HOTELS LIMITED | 34,265 | 39.5 | 2.93 | 22.3 | 7.0 | 9.0 | — | 37.5 |
| LEELA PALACES HOTEL LTD | 20,355 | 33.6 | 3.15 | 27.0 | 6.2 | 5.9 | — | 43.2 |
| EIH LIMITED | 18,260 | 25.7 | 3.38 | 17.1 | 12.2 | 14.9 | 42.7 | 31.6 |
| CHALET HOTELS LIMITED | 17,481 | 33.1 | 4.73 | 16.0 | 17.4 | 13.6 | 56.6 | 45.5 |
| VENTIVE HOSPITALITY LTD | 12,684 | 26.4 | 1.88 | 11.2 | 7.4 | 7.4 | — | 37.7 |
| LEMON TREE HOTELS LTD | 8,500 | 36.1 | 4.09 | 15.7 | 13.9 | 9.2 | 41.8 | 44.1 |
| INDIA TOUR. DEV. CO. LTD. | 5,172 | 63.1 | 12.59 | 42.2 | 20.0 | 26.6 | 24.7 | 17.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.3 | 1.6 | 1 of 57 | 98% |
| ROCE | 0.4 | 4.9 | 53 of 65 | 19% |
| ROE | 0.8 | 6.3 | 43 of 57 | 25% |
| Debt / Equity | 0.1 | 0.2 | 26 of 57 | 55% |
| EBITDA margin | (115.2) | 29.5 | 56 of 58 | 4% |
| Revenue growth | (89.5) | 7.6 | 57 of 58 | 2% |
| Profit growth | (648.0) | 11.6 | 54 of 55 | 2% |
| Market cap | 26 | 246 | 52 of 66 | 22% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Newspaper publication of Q2 FY27 financial results | compliance | minimal | — | — |
| 17 Oct 2026 · TGB Banquets Q2 FY27: PAT Rs 29.29 lakh, cash flow turns positive | results | high | — | — |
| 17 Oct 2026 · TGB Banquets Q2 FY26 results: Board approves standalone unaudited financials | results | high | — | — |
| 9 Oct 2026 · Board meeting on Oct 17 to consider Q2 and H1 FY27 results | results | low | — | — |
| 8 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Sept 2026 quarter | compliance | minimal | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 16 Sept 2026 · 27th AGM results: All 3 resolutions passed with over 99 percent majority | compliance | minimal | — | — |
| 15 Sept 2026 · 27th AGM held on September 15, 2026; three resolutions transacted | board shareholder meetings | medium | — | — |
| 22 Aug 2026 · Newspaper ad for 27th AGM notice, e-voting and cutoff date details | compliance | minimal | — | — |
| 21 Aug 2026 · 27th AGM notice and FY26 annual report sent to shareholders | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.