Bharat Bijlee Ltd.

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bharatbijlee.comBSE: 503960NSE: BBL

Market Cap₹ 2,540 Cr.

Current Price

High / Low₹ 3,411 / 2,052

Stock P/E22.7

Book Value₹ 1,812

Price to Book1.16

Dividend Yield1.56 %

ROCE8.4 %

ROE6.0 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Power Systems: 60.9% • Industrial Products: 39.1%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 35.8% CAGR over last 5 years
Company has delivered good sales growth of 25.5% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 32.9%
Working capital cycle has improved - days down from 120 to 69
Company has a consistent dividend-paying track record
Company comfortably covers its interest (8.4x coverage)

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 23.8% versus prior year
Company has a low return on equity of 7.1% over last 3 years
Company has a low return on capital employed of 9.6%
A large part of profit comes from other income (25.6% of PBT)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ABB	7269.10	51.56	154038.32	0.54	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	CGPOWER	910.00	114.69	143365.96	0.14	308.28	15.52	3280.81	13.99	27.94	12.11
3.	SIEMENS	3960.90	43.07	141055.77	0.45	214.31	-49.38	4713.70	8.44	21.42	9.14
4.	POWERINDIA	31415.40	121.72	140025.86	0.03	294.15	123.52	2493.69	74.46	28.73	14.58
5.	GVT&D	4545.00	623.18	116373.15	0.22	3629.90	1146.53	18361.40	1280.42	75.51	25.10
6.	ENRIN	3178.75	76.08	113201.81	0.13	4409.00	1578.34	24856.00	1292.81	40.19	23.56
7.	WAAREEENER	2627.50	19.80	75580.39	0.15	891.87	15.39	7931.79	79.22	37.92	18.15
8.	APARINDS	17496.15	62.01	73260.47	0.34	4674.50	1677.98	65910.60	1191.31	31.84	11.50
9.	HAVELLS	1114.80	42.84	69960.57	0.90	289.71	-16.64	6518.19	19.48	25.74	7.15
10.	SUZLON	44.16	19.31	60700.73	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1227.70	159.75	29354.80	0.00	124.40	201.65	6513.60	947.83	31.01	5.23
12.	BBL	2247.05	22.71	2539.87	1.56	19.63	-29.59	547.17	17.70	8.36	5.27

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	441	420	424	587	375	394	514	619	465	473	568	767	547
	409	381	385	526	345	372	461	556	431	439	534	712	532
Operating Profit	33	38	39	62	29	22	53	63	34	35	34	55	15
OPM %	7.40%	9.17%	9.20%	10.51%	7.86%	5.51%	10.27%	10.24%	7.24%	7.35%	6.04%	7.20%	2.78%
	10	7	10	12	10	11	9	13	10	12	9	10	11
Interest	5	5	5	5	3	3	3	4	2	4	5	6	8
Depreciation	3	3	4	5	5	5	5	5	5	5	5	6	6
Profit before Tax	33	37	40	64	32	25	54	68	37	37	33	52	26
Tax %	24.25%	24.50%	25.18%	24.18%	24.77%	25.67%	24.54%	26.12%	24.71%	24.66%	25.64%	25.11%	24.76%
Net Profit	25	28	30	49	24	19	41	50	28	28	25	39	20
	22.41	24.67	26.27	42.94	21.17	16.62	35.94	44.51	24.66	24.98	21.84	34.76	17.37

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	677	774	932	929	731	1,266	1,418	1,872	1,902	2,274	2,356
	659	738	873	859	692	1,179	1,299	1,698	1,730	2,111	2,217
Operating Profit	18	36	60	69	39	87	119	175	171	163	140
OPM %	2.67%	4.64%	6.41%	7.47%	5.29%	6.87%	8.41%	9.32%	9.00%	7.15%	5.92%
	28	69	30	31	27	24	29	38	44	41	42
Interest	19	23	20	23	19	24	24	23	16	22	23
Depreciation	10	9	8	9	10	12	13	15	19	22	23
Profit before Tax	18	73	62	69	37	75	111	174	179	160	149
Tax %	20.15%	16.11%	32.94%	33.80%	28.93%	25.46%	25.27%	24.49%	25.34%	25.02%	25.06%
Net Profit	14	61	42	46	26	56	83	131	134	120	112
EPS	0.00	0.00	0.00	0.00	46.09	98.34	73.63	232.64	118.27	106.27	—
Dividend Payout %	0.00%	2.32%	17.01%	15.49%	10.85%	30.51%	27.16%	30.09%	29.59%	32.93%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 25%
3 Years:: 17%

COMPOUNDED PROFIT GROWTH

10 Years:: 33%
5 Years:: 36%
3 Years:: 13%

STOCK PRICE CAGR

10 Years:: 19%
5 Years:: 27%
3 Years:: 6%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 7%
3 Years:: 7%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6
	646	686	746	750	967	1,118	1,372	1,859	1,936	2,023
	178	215	199	247	245	286	294	157	85	305
Trade Payables	156	154	151	165	180	138	194	210	248	353
	42	35	35	72	79	112	186	273	347	426
Total Liabilities	1,026	1,095	1,137	1,240	1,476	1,660	2,052	2,505	2,622	3,112
	72	65	69	74	102	105	108	130	129	145
Capital Work in Progress	1	7	8	24	3	2	2	3	14	83
	352	347	376	353	561	673	890	1,324	1,341	1,357
	123	111	147	196	257	217	317	262	294	474
	0	0	0	0	0	0	0	379	376	577
Cash & Bank	20	10	14	4	16	12	16	169	400	230
	459	554	523	589	538	650	718	237	67	246
Total Assets	1,026	1,095	1,137	1,240	1,476	1,660	2,052	2,505	2,622	3,112

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	-38	68	26	45	9	78	241	175	-92
Cash from Investing	6	26	-20	-22	-13	-14	-10	-52	-54	-82
Cash from Financing	-7	18	-34	10	-20	17	-31	-182	-123	163
	12	-10	-1	1	6	-6	11	7	-2	-12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	33.69	33.69	33.69	33.69	33.65	33.65	33.65	33.65	33.65
	3.60	4.79	5.30	3.79	3.63	3.67	3.57	4.10	5.84
	12.70	16.31	17.77	17.34	17.96	18.36	17.64	17.95	15.63
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	50.01	45.22	43.25	45.18	44.75	44.32	45.13	44.29	44.88

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-06

Copy of Newspaper Publication

2026-08-06 - Bharat Bijlee Limited has informed the Exchange about Copy of Newspaper Publication - Unaudited Financial Results of the Company, for the quarter ended June 30, 2026.

2026-08-04

Change in Management

2026-08-04 - Bharat Bijlee Limited has informed the Exchange about change in Management (Senior Management Personnel)

2026-08-04

Outcome of Board Meeting

2026-08-04 - Bharat Bijlee Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-23

Shareholders meeting

2026-07-23 - Bharat Bijlee Limited has informed the Exchange regarding voting results of the 79th Annual General Meeting held on July 23, 2026

2026-07-23

Shareholders meeting

2026-07-23 - Bharat Bijlee Limited has submitted the Exchange a copy Srutinizers report of the 79th Annual General Meeting held on July 23, 2026

2026-07-23

Shareholders meeting

2026-07-23 - Bharat Bijlee Limited has informed the Exchange regarding Proceedings of the 79th Annual General Meeting held on July 23, 2026

2026-07-16

Copy of Newspaper Publication

2026-07-16 - Bharat Bijlee Limited has informed the Exchange about Copy of Newspaper Publication - Special Window for Transfer and Dematerialisation of Physical Securities of Bharat Bijlee Limited

2026-07-13

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-13 - Bharat Bijlee Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026.

2026-07-03

Updates

2026-07-03 - Bharat Bijlee Limited has informed the Exchange regarding 'Communication to shareholders - Deduction of Tax at Source on Dividend'.

News

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