Benares Hotels Limited has announced the resignation of its Chief Financial Officer (CFO), Mr. Veeramani Venkata, effective from the closure of business hours on Monday, May 4, 2026. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), and was communicated to BSE Limited on May 4, 2026.

CFO Resignation Details

Mr. Veeramani Venkata submitted his resignation letter on May 4, 2026, citing his intent to pursue a professional career elsewhere. The company's Company Secretary, Ms. Vanika Mahajan, signed and filed the regulatory intimation on the same date. The disclosure was also made in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The key details of the change in key managerial personnel, as disclosed under Annexure A of the regulatory filing, are as follows:

Regulatory Compliance

The intimation was filed in accordance with the requirements of Regulation 30 of the SEBI Listing Regulations, which mandates listed companies to disclose changes in key managerial personnel to the stock exchanges in a timely manner. Benares Hotels Limited is headquartered at Taj Ganges, Nadesar Palace Compound, Varanasi, with its corporate office located at Taj Palace, Sardar Patel Marg, New Delhi.

Benares Hotels Limited announced its audited financial results for the financial year ended March 31, 2026, alongside significant board changes during a meeting held on April 29, 2026. The company reported a profit after tax of ₹4,323.89 lakh for FY26, compared to ₹4,324.95 lakh in the previous year, with total income increasing to ₹14,490.33 lakh from ₹14,066.82 lakh in FY25.

Financial Performance Overview

The board approved the audited financial statements with an unmodified opinion from statutory auditors PKF Sridhar & Santhanam LLP. For the quarter ended March 31, 2026, the company recorded income from operations of ₹4,859.96 lakh and profit after tax of ₹1,534.62 lakh. The earnings per share (basic and diluted) stood at ₹332.61 for FY26, compared to ₹332.69 in the previous year.

Dividend Recommendation

The board has recommended a dividend of 250%, amounting to ₹25 per share on 13,00,000 equity shares of ₹10 each. This matches the previous year's dividend distribution and is subject to shareholder approval at the upcoming Annual General Meeting. The total dividend payout amounts to ₹325 lakh.

Board Restructuring

In a significant corporate governance development, the board announced changes effective April 29, 2026. Mr. Beejal Desai resigned as Non-executive, Non-Independent Director at the close of business hours. Concurrently, the board appointed two new directors to strengthen its composition.

Mr. Rajendra Misra has been appointed as Additional Non-executive, Non-Independent Director. He brings over 30 years of legal expertise and currently serves as Executive Vice President - General Counsel & Corporate Affairs at The Indian Hotels Company Limited. His experience spans multiple sectors including personal care, home care, tobacco, food, and lifestyle retailing.

Mr. Anupam Chaturvedi has been appointed as Additional Non-executive, Independent Director for a five-year term from April 29, 2026, to April 28, 2031, subject to shareholder approval. He is the Founder and CEO of ACe Pansophy, focusing on MSME advisory services, and brings 28 years of experience from DZ BANK AG, Germany's second-largest private sector banking group.

Operational Highlights

The company noted that Taj Ganges, Varanasi successfully opened another 100-room block with plush interiors and a classical Anglo-Indian Bar, recording more than 80% occupancy in March 2026. Additionally, the company accounted for an exceptional item of ₹13.34 lakh related to the incremental impact of the four Labour Codes notified by the Government of India in November 2025.

The board meeting commenced at 4:30 pm and concluded at 7:30 pm on April 29, 2026. The financial results are available on the Bombay Stock Exchange website and the company's official website.