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BGR Energy Systems Ltd.

•
bgrcorp.comBSE: 532930NSE: BGRENERGY
Market Cap₹ 1,770 Cr.
Current Price
High / Low₹ 491 / 185
Stock P/E0.0
Book Value₹ -392
Price to Book-0.45
Dividend Yield0.00 %
ROCE-21.0 %
ROE0.0 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Construction and EPC Contracts Segment: 76.1% • Capital Goods Segment: 23.9%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence
80%
View full sector analysis →

PROS

  • Company is almost debt free
  • Working capital cycle has improved - days down from -118 to -1157
  • Company generates healthy free cash flow

CONS

  • Net worth is negative - accumulated losses have eroded equity
  • Company is loss-making at the operating / net level
  • Operating cash flow has been negative in recent years
  • Company has a low return on equity of -864.0% over last 3 years
  • Company has a low return on capital employed of -14.3%
  • Interest coverage is weak at -0.6x - earnings barely cover interest

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

Peer comparison

ConstructionInfrastructureEngineering - Construction
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.LT3989.1533.08548853.620.954988.0315.5167941.746.6915.9812.00
2.RVNL205.9547.7442940.990.34159.5218.734321.2310.5510.814.41
3.KPIL1410.2521.1924083.200.78311.5345.856407.973.8418.958.77
4.IRB19.1824.2823165.601.363062.701412.5821372.72918.257.7253.93
5.CEMPRO1234.8535.2621213.190.24140.832.642720.927.0233.5310.09
6.ENGINERSIN276.4019.8115534.851.81157.94141.49819.84-5.8030.9420.61
7.TECHNOE969.7026.1611277.570.7293.33-31.44630.3419.8414.8615.79
8.IRCON118.3021.2511126.301.6192.03-43.921955.839.4910.159.81
9.KEC407.8519.6110856.971.3572.62-41.725023.540.0116.355.79
10.AFCONS284.9572.4310480.020.7030.30-77.952671.00-20.7512.889.42
11.WELENT741.5533.5810264.080.4056.36-44.29773.72-8.4416.4419.49
12.BGRENERGY245.250.001769.760.00-223.2916.0715.79-82.18-24.65-647.63
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
14523546217017483661298983785015
1682639074175150257422191137263275321
Operating Profit-23-27-445166-2-77-191-293-102-54-186-225-101
OPM %-15.92%-11.59%-96.24%97.55%-0.87%-93.22%-289.43%-227.38%-115.15%-65.07%-238.75%-448.50%-660.85%
Other Income41109695-61822410196980
Interest1001021171261221221432131821524604204
Depreciation4333333433331
-122-132-555133-118-192-343-328-263-62-193-762-226
Tax %25.66%19.62%-23.90%0.02%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%
Net Profit-91-106-688133-118-192-343-328-263-62-193-762-226
-13-15-9518-16-27-48-46-36-9-27-106-3
Equity Capital72727272727272727272727272
Reserves000-416000-1,393000-2,6720
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

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
3,2383,4383,2983,2292,6921,1401,2218061,012451226
2,8233,0452,8652,8492,4371,2881,0781,0771,3391,004997
Operating Profit420393455412315-116155-219-218-364—
OPM %1311141312-1013-27-22-81—
Other Income60213260331251108189178
Interest348322347343344329364399445600847
Depreciation232425283530271713139
50686441-64-475-236-635-677-981-1,243
Tax %46354929121252525-1100
Net Profit2744322914-355-178-479-752-981-1,243
EPS00000-49-25-66-104-136—
Dividend Payout %0000000000—
Minority Interest00000000000
Share of Associates00000000000
Adjusted EPS46442-49-25-66-104-136—

COMPOUNDED SALES GROWTH

10 Years:
-18%
5 Years:
-30%
3 Years:
-28%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

STOCK PRICE CAGR

10 Years:
8%
5 Years:
35%
3 Years:
54%
1 Year:
25%

RETURN ON EQUITY

10 Years:
-263%
5 Years:
-528%
3 Years:
-864%
Last Year:
0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

No bonus data found

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
LIABILITIES----------
Equity Capital72727272727272727272
1,2611,3051,3331,3341,345991810331-416-1,393
1,8591,6522,0582,2242,1301,9381,8781,6101,3983,037
Trade Payables1,2181,2811,0691,1661,1821,0771,0109539901,155
1,9301,8751,9311,7101,3861,2191,5101,8402,2391,763
Total Liabilities6,3406,1876,4636,5056,1165,2965,2814,8064,2834,633
ASSETS----------
17917217817716313096825844
364364364364359360360360361361
23614437444739424315
00000000580357
Cash & Bank4815043473773623322592837561
5,2925,0855,5305,5505,1884,4284,5274,0393,1663,794
Total Assets6,3406,1876,4636,5056,1165,2965,2814,8064,2834,633
Total Debt2,3032,0012,2282,2592,1301,9381,8781,8411,8303,470
Net Working Capital1,03854222574191741414-327-1,429
Contingent Liabilities7221,0711,0218627818166461,0951,372990
Book Value per Share184.71190.91194.74194.85196.40147.33122.2255.88-47.60-183.08
Face Value10.0010.0010.0010.0010.0010.0010.0010.0010.0010.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
-8259126257369467334305150-1,859
Cash from Investing-19-17-31-2642-18-2-02
Cash from Financing-106-534-91-232-413-459-370-306-1431,883
-20740-96-1-28-28-4726
Free Cash Flow-97575-2231349467334305150-1,859
OCF / Net Profit-3.0013.390.798.8527.33-1.31-1.88-0.64-0.201.89
Cumulative 5-Year FCF00001,0561,6211,3801,6871,605-603

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
PER SHARE
EPS (₹)3.776.124.494.031.87-49.25-24.68-66.32-104.23-135.95
Book Value (₹)184.71190.91194.74194.85196.40147.33122.2255.88-47.60-183.08
Dividend per Share (₹)0.000.000.000.000.000.000.000.000.000.00
Cash EPS (₹)6.929.447.967.886.69-45.03-20.89-64.00-102.39-134.16
PROFITABILITY
Operating Margin %12.95%11.41%13.79%12.77%11.71%-10.19%12.67%-27.17%-32.26%-122.60%
Net Margin %0.84%1.28%0.98%0.90%0.50%-31.18%-14.59%-59.35%-74.31%-217.44%
ROE %2.03%3.26%2.33%2.07%0.96%-28.66%-18.31%-74.47%-2517.66%0.00%
ROCE %11.21%11.11%11.71%10.54%7.77%-4.48%4.42%-9.42%-12.42%-20.99%
0.43%0.70%0.51%0.45%0.21%-6.23%-3.37%-9.49%-16.55%-22.01%
EFFICIENCY
Debtor Days283254286333256270230318227379
Inventory Days446551513181524
Payable Days203236234213261609500639422750
8422581240-325-257-303-180-347
FINANCIAL HEALTH
Debt to Equity (x)1.73x1.45x1.59x1.61x1.50x1.82x2.13x4.57x-5.33x-2.63x
Interest Coverage (x)1.14x1.21x1.18x1.12x0.81x-0.45x0.35x-0.59x-0.52x-0.64x
1.28x1.13x1.05x1.02x1.00x1.04x1.00x1.00x0.92x0.74x
GROWTH
Revenue Growth %-3.77%6.17%-4.06%-2.09%-16.64%-57.66%7.11%-33.95%25.54%-55.43%
Operating Profit Growth %13.95%-6.46%15.62%-9.33%-23.58%-136.87%233.12%-241.63%0.30%-66.65%
Net Profit Growth %-35.44%62.26%-26.66%-10.28%-53.46%-2728.85%49.90%-168.74%-57.18%-30.43%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-57.18%-30.43%
VALUATION
P/E (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x
P/B (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x-0.73x-0.45x
Dividend Yield %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
0.00x0.00x0.00x0.00x0.00x0.00x0.00x0.00x-9.19x-10.99x

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
51.0151.0151.0151.0151.0151.0151.0151.0151.01
0.170.150.000.020.010.090.050.100.01
0.260.260.260.140.140.000.000.000.00
Government0.000.000.000.000.000.000.000.000.00
48.5748.5948.7348.8348.8548.9048.9448.8948.98

Documents

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

2026-09-01
Press Release

2026-09-01 - BGR Energy Systems Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "Copy of the Newspaper Publication - Notice of 40th Annual General Meeting ".

2026-08-31
Shareholders meeting

2026-08-31 - BGR Energy Systems Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026

2026-07-31
Copy of Newspaper Publication

2026-07-31 - BGR Energy Systems Limited has informed the Exchange about Copy of Newspaper Publication of Un-audited financial results for the quarter ended 30th June 2026

2026-07-30
Corporate Insolvency Resolution Process

2026-07-30 - BGR Energy Systems Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-07-29
Agreements

2026-07-29 - BGR Energy Systems Limited has informed the Exchange about Loan Agreements

2026-07-29
Amendment to AOA/MOA

2026-07-29 - BGR Energy Systems Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-07-29
Change in Management

2026-07-29 - BGR Energy Systems Limited has informed the Exchange about change in Management

2026-07-29
Outcome of Board Meeting

2026-07-29 - BGR Energy Systems Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-07
Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07 - BGR Energy Systems Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for BGRENERGY

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