1:1 Bonus Share, Rs 2/Share Dividend Declared: Multibagger Hotel Stock Zooms 7.81%

Small cap company from the Hotel & Resorts industry, Advani Hotels & Resorts (India) Ltd shares rallied 7.81% intraday today after it declared 1:1 bonus share and Rs 2/share interim dividend. The company also declared its financial results today. Last trading price of Advani Hotels shares on BSE is Rs 153.25 apiece.

Advani Hotels stock surged 70% in last 6-months and gained 104% in last 1-year. The company has a market capitalisation of Rs 708.31 crore. Check details below:

Advani Hotels Recommends Interim Dividend: As per the regulatory filing of the company dated January 29, 2024, "declared the first Interim Dividend @ 100% i.e. Rs. 2/- (Rupees Two only) per Equity Share of face value of Rs. 2/- each for the Financial Year 2023-2024. The Interim Dividend shall be paid to the equity shareholders of the Company whose names shall appear in the Register of Members or in the records of the Depositories as Beneficial Owners of Equity Shares as on Friday, February 9, 2024, the Record Date fixed for the aforesaid purpose. The Interim Dividend will be credited or warrants / DD will be dispatched by Monday, February 26, 2024."

Advani Hotels Announces 1:1 Bonus Share: The regulatory filing further stated, "recommended issue of Bonus Equity Shares in proportion of 1:1 i.e. 1 (one) new fully paid-up Equity Share of Rs. 2/- (Rupees Two only) each for every 1 (One) fully paid-up Equity Share of Rs. 2/- (Rupees Two only) each held by the eligible members of the Company as on the 'Record Date', subject to the approval of Members of the Company through Postal Ballot process." The company has yet to issue the record date for bonus share.

Advani Hotels Declares Q3 Results: The company stated that it recorded a milestone of the highest ever revenue of INR 3,304 lakhs in Q3FY24, the highest revenue in any quarter in it's operating history, registering a growth of 11% (YoY). The Q3FY24 Profit Before Tax (PBT) declared at INR 1,270 lakhs, registering a growth of 8% (YoY).

The Company is debt-free and the Liquid Fund Reserves (including Fixed Deposits) are at INR 4,812 lakhs as on December 31, 2023, after deducting a 70% Interim Dividend pay-out of INR 647 lakhs in June 2023 and after deducting cash-outflows towards capital expenditures during the ninemonth period of the current financial year, added the BSE filing of the company.

Prahlad S. Advani, Chief Executive Officer & WholeTime Director, Advani Hotels & Resorts (India) Limited said, ""On behalf of the Board of Directors, I'm very grateful to our team at Advani Hotels and the Caravela Beach Resort Goa for their dedication and hard work. As we continue to ride the wave of increasing domestic travel, we remain dedicated to exceeding expectations and creating lasting memories for all of our guests."

The EBITDA increased by Rs 106 lakhs compared to the same period last year, but the EBITDA margins declined by 1%. This is due to strategic investments in our workforce, including hiring new talent and rewarding our existing talent pool with increments to encourage and retain our valuable employees. The Company's Profit After Tax (PAT) stands at INR 931 lakhs registering a growth of 6%.

Advani Hotels Shares Performance & Return: The 52-week high price of Advani Hotels shares on BSE is Rs 144.00 apiece and 52-week low price is Rs 66.75 apiece, respectively. Advani Hotels shares jumped 38% in last 1-month, soared 54% in last 6-months, rallied 85% in last 1-year, and offered shareholders return of 211% in last 3-years. Advani Hotels shares hit 52-week high for 3 consecutive days from January 23 and January 25, 2024.

Advani Hotels About: Advani Hotels & Resorts (India) Limited (ADVANIHOTR) is a publicly-traded, Company incorporated in 1987, headquartered in Mumbai and is listed on the Bombay Stock Exchange and National Stock Exchange of India. It owns and operates the 'Caravela Beach Resort Goa'; an independent, 201-key, 5-Star Deluxe golf resort on the Arabian Sea, designed by the world-famous architects WATG (who designed both the 'Atlantis' resorts).

Disclaimer: The stock highlights the bonus share, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.