| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 309 | 800 | 862 | 901 |
| Cost of Material Consumed | 30 | 77 | 84 | 88 |
| Change in Inventory | 0.1 | 0 | 0 | -0.06 |
| Gross Margins | 90.26 | 90.38 92 | 90.26 | 90.24 |
| Employee Benefit Expenses | 50 | 92 | 112 | 129 |
| Other Expenses | 119 | 275 | 304 | 305 |
| EBITDA | 109.9 | 356 | 362 | 379.06 |
| OPM | 35.57 | 44.5 | 42 | 42.07 |
| Other Income | 5.7 | 30 | 39 | 16 |
| Finance Cost | 176 | 185 | 202 | 188 |
| D&A | 65 | 68 | 59 | 55 |
| EBIT | 44.9 | 288 | 303 | 324.06 |
| EBIT Margins | 14.53 | 36 | 35.15 | 35.97 |
| PBT | -125 | 134 | 141 | 152 |
| PBT Margins | -40.45 | 16.75 | 16.36 | 16.87 |
| Tax | -66 | 85 | 56 | 67 |
| PAT | -59 | 49 | 85 | 85 |
| NPM | -19.09 | 6.13 | 9.86 | 9.43 |
| EPS | -7.77 | 6.46 | 11.19 | 11.19 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 35.57 | 44.5 | 42 | 42.07 |
| Net Profit Margin | -19.09 | 6.13 | 9.86 | 9.43 |
| Earning Per Share (Diluted) | -7.77 | 6.46 | 11.19 | 11.19 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 1277 | 1624 | 1593 | 1561 |
| CWIP | 302 | 286 | 291 | 288 |
| Investments | 0 | 0 | 0 | 0.03 |
| Trade Receivables | 19 | 37 | 26 | 20 |
| Inventory | 17 | 18 | 17 | 16 |
| Other Assets | 950 | 509 | 410 | 362.97 |
| Total Assets | 2565 | 2474 | 2337 | 2248 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 75.9 | 75.9 | 75.99 | 75.99 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 726 | 699 | 785 | 868 |
| Borrowings | 1338 | 1347 | 1107 | 922 |
| Trade Payables | 77 | 82 | 89 | 108 |
| Other Liabilities | 348.1 | 270.1 | 280.01 | 274.01 |
| Total Liabilities | 2565 | 2474 | 2337 | 2248 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | -125 | 134 | 141 | 152 |
| OPBWC | 134 | 353 | 361 | 377.5 |
| Change in Receivables | 4.6 | -18 | 14 | 4 |
| Change in Inventories | 0.9 | -1 | 1 | 1.36 |
| Change in Payables | -7.5 | 1 | 15 | 18 |
| Other Changes | 2.7 | 3 | 12 | 0.14 |
| Working Capital Change | 0.7 | -15 | 42 | 23.5 |
| Cash Generated From Operations | 134.7 | 338 | 403 | 401 |
| Tax | 1 | -22 | -28 | -28.6 |
| Cash Flow From Operations | 135.7 | 316 | 375 | 372.4 |
| Purchase of PPE | -9 | -18 | -26 | -19.21 |
| Sale of PPE | 0.4 | 49 | 47 | 0.15 |
| Cash Flow From Investment | -27.6 | 33 | 37 | -7.6 |
| Borrowing | 76 | -182 | -245 | -30 |
| Dividend | 0 | -0.02 | -0.03 | -0.04 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -152 | -187 | -176.97 | -347.96 |
| Cash Flow from Financing | -76 | -369.02 | -422 | -378 |
| Net Cash Generated | 32.1 | -20.02 | -10 | -13.2 |
| Cash at the Start | 20 | 69 | 50 | 40.2 |
| Cash at the End | 52.1 | 48.98 | 40 | 27 |
Bharat Hotels Limited (BHL), a prominent Indian hospitality company operating luxury hotels under the “The LaLiT” brand, currently offers its shares in the unlisted market, meaning they are not publicly traded on any stock exchange. The company’s unlisted shares carry ISIN INE466A01015, with a face value of Rs 10 per share and a total outstanding share capital of approximately 75.99 million shares. As per recent data, the share price in this unlisted segment has ranged roughly between Rs 300–Rs 400 per share, although these quotes stem from platforms that deal in grey-market trades and thus may lack full regulatory transparency.
From a financial perspective, BHL has shown a turnaround post-pandemic: revenue climbed from about Rs 800 crore in FY 2022-23 to approximately Rs 862 crore in FY 2023-24, and the company moved from losses to a reported PAT of around Rs 85 crore in FY 2023-24. The company also secured a large investment of over Rs 1,100 crore from Kotak Realty Fund in 2023 to help refinance debt and bolster its operations. Nonetheless, investing in BHL’s unlisted shares carries typical risks associated with unlisted securities: limited liquidity (difficulty in finding a buyer), fewer regulatory disclosures compared to listed companies, and uncertainty regarding if or when the company might choose to list publicly.
1. What are Bharat Hotels unlisted shares?
Bharat Hotels unlisted shares are equity shares of Bharat Hotels Limited that are not yet listed on stock exchanges like NSE or BSE. These shares are traded privately in the unlisted or pre-IPO market.
2. What is the current price of Bharat Hotels unlisted shares?
The price of Bharat Hotels unlisted shares varies based on demand, company performance, and market conditions. Investors should check the latest live unlisted market price before buying or selling.
3. How can I buy Bharat Hotels unlisted shares in India?
You can buy Bharat Hotels unlisted shares through trusted unlisted share brokers or private equity platforms. The process typically includes price confirmation, documentation, payment, and share transfer to your Demat account.
4. Is it legal to trade Bharat Hotels unlisted shares?
Yes, buying and selling unlisted shares in India is legal when done through proper channels with Demat transfer and KYC compliance, following SEBI regulations.
5. Is Bharat Hotels a good investment before IPO?
Bharat Hotels’ investment potential depends on its financial performance, hotel portfolio, revenue growth, and IPO plans. Investors should review valuation, risks, and long-term prospects before investing.
6. What are the risks of investing in Bharat Hotels unlisted shares?
Key risks include low liquidity, price volatility, lack of daily market pricing, delayed IPO timelines, and limited public financial disclosures compared to listed companies.
7. How long does it take to transfer unlisted shares to Demat?
Unlisted share transfers usually take 2–5 working days, depending on documentation and company registrar processes.
8. Can I sell Bharat Hotels unlisted shares before the IPO?
Yes, you can sell Bharat Hotels unlisted shares anytime in the unlisted market through brokers or platforms that facilitate private share transactions.
9. What happens to unlisted shares after Bharat Hotels IPO?
If Bharat Hotels gets listed, unlisted shares held in your Demat account automatically convert into listed shares and become tradable on stock exchanges.
10. Are there taxes on buying and selling unlisted shares?
Yes. Capital gains tax applies based on holding period. Short-term and long-term tax treatment differs for unlisted shares under Indian tax laws.