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×

bharat hotels Limited

162.00
+ 1.25 %
Scrip Name
Bharat Hotels
ISIN No.
INE466A01015
PAN No.
AAACB1298E
Face Value
10
No. of Outstanding Shares
75,991,199
Market Capitalization
1,231.06 Crore

About BHARAT HOTELS LIMITED Unlisted Shares

BHARAT HOTELS LIMITED is headquartered in New Delhi. The first hotel of the company was opened in 1988. The company was founded by Mr. Lalit Suri. He had also served as a Member of Parliament representing Uttar Pradesh in the Rajya Sabha. After Mr. Lalit Suri, the leadership went into the hands of Dr. Jyotsna Suri in 2006. All the hotels under the group were operated under the brand ‘The Grand – Hotels, Palaces & Resorts, but in 2008, it was rebranded as ‘The Lalit.

The company owns 12 luxury hotels, Palaces & Resorts, and 2 mid-segment hotels under The LaLiT Traveller brand. The company in total has 2261 rooms to offer. Moreover, they also have exclusive management rights to operate the hotel in London with 70 rooms.

During the current COVID-19 pandemic, some of the hotels of company are accommodating doctors at a fixed rate to be paid by the Government.

The company has 5 subsidiary companies and 1 joint venture. Apart from that, Bharat Hotels Limited also runs ‘The Lalit Suri Educational and Charitable Trust’

In the future, they are planning to develop 3 new hotels in Ahmedabad, Mangalore, and Dehradun, which will in consolidate and offer 290 rooms and 115 cottages. They are also developing 50 additional rooms at the ‘The Lalit Laxmi Vilas Palace Udaipur’. Bharat Hotels Limited has developed its own brands like Baluchi, OKO, 24/7, The LaLiTBoulangerie, the Lalit food truck company, and the Kitty Su. In the COVID-19 pandemic, they started home delivery of bakery, confectionery, and gourmet hampers. The Company is also exploring possibilities of digital channels to

make more products and services available to guests like Ayurveda doctor consultancy, wellness packages, chef at home, bartender at home, Kitty comes home, and industrial catering.

 

INCORPORATION DETAILS

CIN

U74899DL1981PLC011274

Registration Date

22 January 1981

Address of the Registered office and contact details

Barakhamba Lane, New Delhi-110001

Tel.: 011-44447777, Fax: 011-44441234,

Email Address: [email protected]

Name of Registrar and Transfer Agent,

K Fin Technologies Private Limited

305 New Delhi House,

27, Barakhamba Road, New Delhi-110001

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Hotel & Restaurant Operations

9963/99631110 & 99633101

98.78%

 

BOARD OF DIRECTORS

Dr. Jyotsna Suri (Chairperson And Managing Director)

Ms. Divya Suri Singh (Executive Director)

Ms. Deeksha Suri (Executive Director)

Mr. Keshav Suri (Executive Director)

Mr. Ramesh Suri (Non-Executive Director)

Dr. M.Y. Khan (Independent Director)

Mr. Dhruv Prakash (Independent Director)

Mr. Vivek Mehra (Independent Director)

Mr. Ranjan Mathai (Independent Director)

Ms. Shovana Narayan (Independent Director)

 

PARTICULARS OF SUBSIDIARIES AND ASSOCIATE COMPANIES

Name of the Company

Subsidiary/Associate

% of shares held

Jyoti Limited

Subsidiary

99.99%

Lalit Great Eastern Kolkata Hotel Limited

Subsidiary

90

PCL Hotels Limited

Subsidiary

99.6

Prima Hospitality Private Limited

Subsidiary

99.99

Kujjal Hotels Private Limited

Subsidiary

-

BHARAT HOTELS LIMITED UNLISTED SHARE DETAILS

 

Total Available Shares:

7,59,91,199

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE466A01015

Pan No.

AAACB1298E

Lot Size:

100 Shares

Last Traded Price:

Rs. 200

Market Cap

Rs. 1519.82 Crore

 

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Deeksha Holding Ltd

3,07,17,301

40.42

2

Dr. Jyotsna Suri

72,55,935

9.55

3

Responsible Holding Pvt Ltd

71,06,400

9.35

4

Jyotsna Holding Pvt Ltd

30,34,039

3.99

5

Mr. Keshav Suri

38,80,596

5.1

6

Mr.Jayant Nanda

1,99,91,198

26.31

7

Other Promoters

16,99,643

2.24

8

Public Shareholding

23,06,087

3.04

 

Total

7,59,91,199

100

 

INDUSTRY OUTLOOK

The Hotel industry is a part of the Travel and Tourism industry in India. Average Room Rate (ARR) and Revenue per Available Room (RevPAR) are the key performance indicators for the Hotel industry to measure business expansion and manage hotels.

The ARR of the industry was Rs. 5,458.68 for FY 2020, as against Rs. 5,671.00 for FY 2017. The ARR of the industry is expected to reach Rs. 6,292.85 by FY 2025, increasing at a CAGR of 2.49% from FY 2021 to FY 2025. The RevPAR was Rs. 1,951.34 in FY 2020. It is expected to touch Rs. 3,336.28 by FY 2025.

 

The Hotel industry can be segmented into branded or traditional hotels, independent/unbranded hotels, new-age hotel chain, and alternate accommodations. The independent/unbranded segment accounts for around 70% of the total available hotel rooms. And the second largest segment is alternate accommodations.

 

It is expected that the hotel industry will expand at a good rate since India will be hosting the ICC Men's World Cup in 2023. It has been assumed that this event would increase foreign tourists' footfall in the country. The Hotel industry is highly dependent on the tourism sector for its business. Therefore, the Ministry of Tourism has undertaken several schemes like PRASHAD (Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive) and SWADESH DARSHAN (Integrated Development of Tourist Circuits around Specific Themes).

The COVID-19 pandemic resulted in subsequent travel restrictions and nationwide lockdowns. The domestic hospitality industry has been one of the worst-hit sectors by this pandemic. In a report, ICRA said it expects the industry to go down by 65% in the FY 2021, with massive operating and net losses, wiping out the cumulative profits of the past 4 years. However, a good demand recovery is possible in the second part of FY 2021-22. In 2021, it is expected that domestic business travel will pick up pace in the second quarter, as employees return to their workplaces and companies soften their travel advisories. In the interim, domestic leisure, weddings, and F&B demand is expected to drive the sector's recovery.

The situation is still worsening, with numerous headwinds as seen with the restart of crowd control and weekend lockdowns, increasing India's COVID cases in April 2021. It is observed that pan-India hotel occupancy has hit an all-time low of 18-20% in 8 months of FY 2021. The average room rate (ARR)s was at Rs 3,400-3,500 per night, a discount of 35-40%, while the RevPAR declined by about 80%.Although some sequential improvement has been seen since September 2020.

Some signs of positivity emerged in the hospitality sector. Leisure demand drives the growth, with holiday destinations in close proximity to major cities witnessing a surge in weekend getaway demand. Goa, India’s leading leisure destination witnessed significant growth in room night demand in the last few months of 2020, with market-wide occupancy levels almost touching 55% in November.

The industry also witnessed a recovery in the F&B segment as people started dining out. As per data on restaurant bookings made through leading Restaurant online booking platforms, there has been a nine-fold increase in table bookings from June to November 2020 across India, which can give the industry some brightness in 2021.

 

KEY FINANCIALS OF BHARAT HOTELS LIMITED (In Rs. Lakhs)

Particulars

2020

2019

2018

2017

Revenue from Operations

71,773.44

78,411.75

73,798.44

65,379.04

Other Income

1,147.81

2,695.71

1,653.89

1,063.24

EBITDA

22,134.05

25,036.02

22,420.30

19,549.87

EBITDA margin

30.84%

31.93%

30.38%

29.90%

Finance Cost

16,645.81

14,933.69

13,779.52

14,513.81

Depreciation

9,119.21

8,778.58

8,476.56

8,510.61

Finance Income

883.34

650.49

641.73

612.4

Profit Before Tax and exceptional items

-2,747.63

1,974.24

805.95

-2,862.15

Exceptional items

3,238.10

0.00

0.00

0.00

Total Tax

1,394.14

-869.02

-7,582.07

1,860.66

Profit After Tax (PAT)

-7,379.87

2,843.26

8,388.02

-4,722.81

EPS

-8.34

5.27

9.87

-2.11

 

BALANCE SHEET OF BHARAT HOTELS LIMITED(In Rs. Lakhs)

Particulars

2020

2019

ASSETS

   

NON CURRENT ASSETS

   

Tangible assets

2,23,091.39

2,27,529.62

Intangible assets

8,522.28

8,603.64

Financial assets

3,270.82

2,895.41

Tax assets

4,409.18

5,447.31

Other non-current assets

1,119.40

6,798.21

TOTAL NON-CURRENT ASSETS

2,40,413.07

2,51,274.19

CURRENT ASSETS

   

Inventories

2,221.33

1,977.44

Trade receivables

4,827.32

5,758.58

Financial assets

883.07

1518.36

Cash and Cash equivalents

5,241.43

3,194.15

Other current assets

1,722.62

2,571.29

Assets held for sale

5,725.24

21.39

TOTAL CURRENT ASSETS

20,621.01

15,041.21

TOTAL ASSETS

2,61,034.08

2,66,315.40

EQUITY AND LIABILITIES

   

EQUITY

   

Equity share capital

7,599.17

7,599.17

Other Equity

84,525.91

94,837.21

Non-controlling interest

-5,162.52

-4,122.85

TOTAL EQUITY

86,962.56

98,313.53

LIABILITIES

   

NON CURRENT LIABILITIES

   

Borrowings

1,23,743.67

1,20,970.30

financial liabilities

9,938.68

478.32

Provisions

971.83

1050.24

Tax liabilities

1880.32

2361.06

Other non current liabilities

3268.72

3661.99

TOTAL NON CURRENT LIABILITIES

1,39,803.22

1,28,521.91

CURRENT LIABILITIES

   

Borrowings

11,155.41

12,416.79

Trade payables

8,277.90

8,409.56

Financial liabilities

10,315.21

13,939.95

Provisions

1,001.24

1,003.96

Other current liabilities

3,264.91

3,653.60

Liabilities of Assets held for Sale

253.63

56.10

TOTAL CURRENT LIABILITIES

34,268.30

39,479.96

TOTAL LIABILITIES

1,74,071.52

1,68,001.87

TOTAL EQUITY AND LIABILITIES

2,61,034.08

2,66,315.40

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

1

1

Retained Earnings (Consolidated) (In Rs. Lakhs)

35,805.24

46,147.64

42,957.84

 

PERFORMANCE OF THE COMPANY

Revenue from Operations of Bharat Hotels Limited went from Rs. 78,411.75 Lakhs in FY 2019 to Rs. 71,773.44 Lakhs in FY 2020, registering a decrease of 8.47%.

The EBITDA of the company went down by 11.59% in FY 2020 and touched Rs. 22,134.05 Lakhs as against the EBITDA of Rs. 25,036.02 lakhs in FY 2019.

The finance cost of the company has increased by 11.4% to Rs. 16,645.81 Lakhs in FY 2020 from Rs. 14,933.69 lakhs in FY 2019.

Bharat Hotels Limited registered a loss of Rs. 7,379.87 Lakhs in FY 2020, as against a profit of Rs. 2,843.26 Lakhs in FY 2019. The main reason for the loss was increasing finance costs and decreasing Revenue.

Retained earnings of the company sharply fell from Rs. 46,147.64 Lakhs in FY 2019 to Rs. 35,805.24 Lakhs in FY 2020, a decline of 22.4%.

The current Ratio of the company for FY 2020 was 0.6, which clearly states that the company is facing liquidity issues.

The book Value of the company on 31st March 2019 was Rs. 98,313.53 lakhs. But it went down to Rs. 86,962.56 Lakhs on 31st March 2020, registering a decline of 11.5%.

Bharat Hotels Limited had a total debt of Rs. 1,34,899.08 Lakhs as of 31st March 2020.  The company’s Debt to Equity Ratio on 31st March 2020 was 1.

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