Benares Hotels Ltd — Earnings Release 2020

May 28, 2020

May 28, 2020

BSE Limited, Corporate Relationship Department, 1[st] Floor, New Trading Ring, Rotunda Building, Dalal Street, Fort, Mumbai – 400 001 Scrip Code : 509438

SUB: PRESS RELEASE

Dear Sir,

Further to our letter dated May 28, 2020 intimating the Financial Results of the Company for the period ended March 31, 2020, enclosed is the copy of the Press Release on the same for your records.

You are requested to kindly take the same on record.

Thanking you,

Yours faithfully, for Benare s Hotels Ltd. Vanika Mahajan Company Secretary

PRESS RELEASE For immediate publication

BENARES HOTELS LIMITED ANNOUNCES FOURTH QUARTER AND FY 2019-20 RESULTS DECLARES A DIVIDEND OF 75%

Mumbai, May 28, 2020: Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its financials for the fourth quarter and financial year ending March 31, 2020.

FINANCIAL RESULTS FOR THE 04[th] QUARTER ENDING March 31, 2020

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Q4 (Jan-Mar) Revenue EBITDA Profit After Tax
FY 18/19 22.2 Cr.8.4 Cr. 4.8 Cr.<br>FY 19/2019.5 Cr 8.0 Cr.4.3 Cr.
12% 5% 9%
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FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDING March 31, 2020

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FY 2019-20 Revenue EBITDA Profit After Tax
FY 18/19 60.3 Cr.18.2 Cr. 8.7 Cr.<br>FY 19/2063.8 Cr 20.9 Cr.10.6 Cr.
6% 15% 22%
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“ Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said , The Company has shown a healthy growth across all parameters for the FY 19-20 including the improvement in the EBITDA margins percentage from 30.1% in previous year to 32.8% in current year. We are delighted to announce a dividend of 75%.The last quarter has been impacted by the pandemic.”

KEY HIGHLIGHT:

• Nadesar Palace hosted the Prime Minister of Democratic Socialist Republic of Sri Lanka, His Excellency Shri Mahinda Rajapaksa

About Benares Hotels Limited

Benares Hotels Limited (BHL) is a listed public limited company incorporated in 1971. The Company operates its hotels, viz. Taj Ganges Varanasi and Taj Nadesar Palace in Varanasi and The Gateway Hotel, Gondia in Maharashtra. The Company became a subsidiary of The Indian Hotels Company Limited (IHCL) in 2011. While Taj Ganges Varanasi and Taj Nadesar Palace at Varanasi have 144 rooms and suites, The Gateway Hotel at Gondia has 34 rooms.

The Company has been participating in the globally recognised Earth-Check benchmarking and certification system. The Company has been certified Earth-Check Gold for its Taj Ganges Varanasi Hotel continuously for a period of 4 years.

Please visit www.benareshotelslimited.com