Bhansali Engineering Polymers Ltd.

•

bhansaliabs.comBSE: 500052NSE: BEPL

Market Cap₹ 3,168 Cr.

Current Price

High / Low₹ 138 / 74

Stock P/E15.9

Book Value₹ 46

Price to Book1.89

Dividend Yield3.14 %

ROCE23.8 %

ROE17.3 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 24.5%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 42.9% YoY, showing strong momentum
Operating margins have improved to 16.9% from 12.8%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.94x)

CONS

Company's sales have been declining over the last five years
Company has delivered a poor profit growth of -11.6% over past five years
Working capital days have increased from 188 to 255 days
Inventory has been piling up - inventory days up from 28 to 43

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

Peer comparison

ChemicalsChemicalsChemicals

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

S.No.	Name
1.	SOLARINDS	20550.00	93.38	185957.06	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1636.40	62.88	166565.83	1.31	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2597.00	35.61	76981.53	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4731.25	84.51	51972.78	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8538.25	55.47	43808.15	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1138.55	32.62	38352.18	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1733.65	30.19	23645.78	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1646.05	92.89	21847.67	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6484.40	24.00	19091.21	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	505.45	34.53	18334.02	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1417.10	18.24	17949.40	0.71	490.04	100.95	3256.26	22.47	12.12	25.96
12.	BEPL	127.30	15.85	3167.97	3.14	65.60	42.94	472.15	53.34	23.75	17.59

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	294	314	292	321	340	367	346	345	308	325	301	342	472
	238	257	245	270	278	314	294	297	255	276	251	278	392
Operating Profit	57	58	47	51	62	53	52	48	53	49	51	64	83
OPM %	19.21%	18.31%	16.06%	15.90%	18.11%	14.45%	14.95%	13.96%	17.07%	15.10%	16.76%	18.76%	17.59%
Other Income	13	9	10	8	12	11	7	8	11	8	10	10	10
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	2
	67	64	54	57	71	62	56	54	62	55	58	72	91
Tax %	24.43%	25.56%	25.64%	29.04%	25.18%	25.52%	27.94%	26.85%	26.06%	26.53%	27.79%	28.50%	27.66%
Net Profit	0	0	0	0	53	46	41	39	46	40	42	52	66
	2	2	2	2	2	2	2	2	2	2	2	2	0
Equity Capital	25	25	25	25	25	25	25	25	25	25	25	25	25
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	626	1,032	1,225	1,104	1,292	1,394	1,363	1,222	1,398	1,276	1,440
	563	877	1,146	1,018	845	931	1,186	1,010	1,183	1,060	1,196
Operating Profit	72	168	86	92	457	482	206	252	252	255	—
OPM %	11	16	7	8	35	35	15	21	18	20	—
Other Income	8	14	7	6	10	19	29	40	37	39	37
Interest	10	8	1	0	1	0	1	0	0	0	0
Depreciation	5	6	7	10	10	10	10	10	9	8	8
	57	155	78	83	446	473	196	242	244	247	276
Tax %	37	35	40	19	25	26	30	26	26	27	28
Net Profit	35	100	47	67	334	350	137	179	180	180	199
EPS	2	6	3	4	20	21	6	7	7	7	—
Dividend Payout %	9	5	18	12	5	14	206	55	55	55	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	1
Adjusted EPS	1	4	2	3	13	14	5	7	7	7	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 0%
3 Years:: -2%

COMPOUNDED PROFIT GROWTH

10 Years:: 27%
5 Years:: -12%
3 Years:: 10%

STOCK PRICE CAGR

10 Years:: 25%
5 Years:: 2%
3 Years:: 11%
1 Year:: 21%

RETURN ON EQUITY

10 Years:: 28%
5 Years:: 22%
3 Years:: 18%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	17	17	17	17	17	17	17	25	25	25
	145	241	282	340	665	965	1,051	898	977	1,058
	137	0	0	0	0	0	0	0	0	0
Trade Payables	99	126	194	272	36	70	62	90	57	152
	22	40	35	25	60	57	37	43	45	50
Total Liabilities	420	423	529	653	777	1,108	1,167	1,056	1,104	1,285
ASSETS	-	-	-	-	-	-	-	-	-	-
	93	107	143	150	141	145	140	133	137	133
Capital Work in Progress	0	6	0	2	0	0	0	19	11	31
	0	1	1	2	2	2	3	3	3	2
	139	80	100	208	113	197	171	136	118	184
	0	0	0	0	0	0	0	230	255	254
Cash & Bank	17	32	24	63	153	209	279	207	404	442
	170	196	260	229	368	556	574	329	175	240
Total Assets	420	423	529	653	777	1,108	1,167	1,056	1,104	1,285
Total Debt	137	0	0	0	0	0	0	0	0	0
Net Working Capital	75	156	176	198	531	808	787	702	851	893
Contingent Liabilities	0	0	0	0	0	1	1	8	1	6
Book Value per Share	9.73	15.51	18.01	21.47	41.07	59.15	64.37	37.08	40.27	43.53
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	78	192	53	88	103	298	140	231	109	168
Cash from Investing	-12	-16	-55	-43	-21	-300	-15	44	235	-30
Cash from Financing	-65	-149	-7	-10	-9	-50	-50	-324	-100	-100
	1	27	-8	35	74	-52	75	-49	244	39
Free Cash Flow	78	171	22	-39	103	284	135	210	104	146
OCF / Net Profit	2.20	1.92	1.13	1.31	0.31	0.85	1.02	1.29	0.60	0.93
Cumulative 5-Year FCF	0	0	0	0	335	541	505	694	836	879

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	2.14	6.03	2.85	4.04	20.13	21.10	8.24	7.21	7.23	7.24
Book Value (₹)	9.73	15.51	18.01	21.47	41.07	59.15	64.37	37.08	40.27	43.53
Dividend per Share (₹)	0.20	0.30	0.50	0.50	1.00	3.00	17.00	4.00	4.00	4.00
Cash EPS (₹)	1.64	4.26	2.19	3.08	13.83	14.47	5.89	7.60	7.60	7.58
PROFITABILITY
Operating Margin %	10.22%	13.96%	5.95%	7.12%	29.97%	29.43%	12.81%	14.73%	13.01%	16.95%
Net Margin %	5.04%	8.30%	3.27%	5.17%	21.90%	21.37%	8.51%	12.46%	10.92%	14.12%
ROE %	24.62%	47.78%	16.98%	20.46%	64.36%	42.11%	13.35%	18.02%	18.70%	17.28%
ROCE %	29.04%	58.45%	28.51%	25.32%	86.18%	56.88%	19.21%	24.37%	25.35%	23.75%
	9.22%	23.74%	9.92%	11.34%	46.69%	37.13%	12.02%	16.14%	16.67%	15.08%
EFFICIENCY
Debtor Days	70	49	52	53	53	64	59	59	54	73
Inventory Days	58	33	23	43	38	35	42	39	28	43
Payable Days	107	55	58	95	82	26	24	33	27	45
	20	27	17	1	9	73	76	65	55	71
FINANCIAL HEALTH
Debt to Equity (x)	0.85x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	6.77x	20.99x	65.35x	738.32x	709.56x	2822.91x	167.88x	1184.03x	1259.58x	1200.52x
	1.30x	2.04x	1.86x	1.72x	8.11x	8.48x	10.88x	7.13x	11.25x	5.88x
GROWTH
Revenue Growth %	17.95%	64.77%	18.72%	-9.83%	16.99%	7.90%	-2.25%	-10.34%	14.41%	-8.71%
Operating Profit Growth %	82.07%	133.67%	-48.89%	7.36%	395.21%	5.57%	-57.31%	22.18%	0.14%	1.32%
Net Profit Growth %	118.99%	182.14%	-52.62%	44.03%	398.25%	4.99%	-60.93%	31.16%	0.36%	0.08%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.56%	0.36%	0.08%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.39x	15.04x	11.38x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.41x	2.70x	1.89x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.48%	3.68%	4.86%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.01x	9.14x	6.30x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.47	57.47	57.47	57.47	57.47	57.47	57.47	57.47	57.47
	2.09	1.66	1.50	1.53	1.44	1.42	1.13	1.36	1.39
	0.07	0.13	0.10	0.11	0.13	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	40.37	40.74	40.92	40.88	40.96	41.10	41.38	41.16	41.12

Documents

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

2026-07-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-24 - Meeting with Equirus Capital is scheduled to be held on 27th July, 2026.

2026-07-22

Shareholders meeting

2026-07-22 - Bhansali Engineering Polymers Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 21, 2026. Further, the company has informed the Exchange regarding voting results.

2026-07-21

Shareholders meeting

2026-07-21 - Bhansali Engineering Polymers Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 21, 2026

2026-07-20

Copy of Newspaper Publication

2026-07-20 - Newspaper publication of the Un-Audited (Standalone & Consolidated) Financial Results for the quarter ended 30th June, 2026.

2026-07-20

Investor Presentation

2026-07-20 - Bhansali Engineering Polymers Limited has informed the Exchange about Investor Presentation

2026-07-18

Press Release (Revised)

2026-07-18 - Bhansali Engineering Polymers Limited has informed the Exchange regarding a revised press release dated July 18, 2026, titled "Revised press release in relation to Un-audited Financial Results for the quarter ended 30th June, 2026.".

2026-07-18

Press Release

2026-07-18 - Bhansali Engineering Polymers Limited has informed the Exchange regarding a press release dated July 18, 2026, titled "Press Release for the Quarter ended 30th June, 2026".

2026-07-18

Updates

2026-07-18 - Bhansali Engineering Polymers Limited has informed the Exchange regarding 'First Interim Dividend for FY 2026-27 will be paid on or before 16th August, 2026'.

2026-07-18

Record Date

2026-07-18 - Bhansali Engineering Polymers Limited has informed the Exchange that Record date for the purpose of Dividend is 23-Jul-2026.

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