Bhagyanagar India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Copper Products: 99.3% • Wind Power: 0.7%
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company is almost debt free
- Operating margins have improved to 13.8% from 1.3%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.57x)
- Company comfortably covers its interest (11.7x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (185.7% of PBT)
- Recent results are weak - TTM profit is down 78.7% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Promoter holding has decreased over last 2 years: -6.7pp
- Company has a low return on capital employed of 10.8%
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDZINC | 606.00 | 15.00 | 256054.33 | 1.65 | 5469.00 | 144.81 | 13747.00 | 81.10 | 69.83 | 58.56 |
| HINDALCO | 1025.00 | 14.05 | 230340.72 | 0.49 | 7013.00 | 75.15 | 84825.00 | 32.06 | 10.45 | 16.43 |
| VEDL | 273.80 | 5.44 | 107066.43 | 12.42 | 7918.00 | 77.65 | 24205.00 | -35.34 | 18.72 | 35.12 |
| HINDCOPPER | 532.35 | 45.29 | 51479.52 | 0.54 | 352.37 | 162.47 | 936.50 | 81.36 | 39.44 | 54.17 |
| VOGL | 36.26 | 0.00 | 14179.07 | 0.00 | 9450.00 | — | 25070.00 | — | 0.00 | 32.47 |
| GRAVITA | 1697.80 | 31.97 | 12531.20 | 0.37 | 106.37 | 14.30 | 1475.06 | 41.84 | 17.18 | 7.44 |
| JAINREC | 295.70 | 28.27 | 10204.19 | 0.00 | 69.41 | 22.79 | 2724.46 | 75.86 | 25.74 | 3.97 |
| CMRGREEN | 217.30 | 22.41 | 4760.08 | 0.00 | 68.18 | — | 3122.73 | 91.98 | 13.41 | 4.33 |
| POCL | 467.00 | 24.98 | 3562.19 | 0.43 | 358.80 | 42.58 | 9348.90 | 55.08 | 23.32 | 5.97 |
| ARDEE | 53.39 | 19.87 | 1682.86 | 0.00 | 199.03 | — | 3388.11 | — | 49.04 | 9.90 |
| ONIXSOLAR | 454.20 | 27.85 | 1674.54 | 0.00 | 208.97 | — | 945.10 | — | 32.85 | 29.74 |
| BHAGYANGR | 409.40 | 21.82 | 1371.34 | 0.00 | 20.24 | 167.37 | 705.08 | 45.20 | 9.17 | 5.43 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 273 | 237 | 214 | 1 | 1 | 3 | 0 | 1 | 2 | 2 | 1 | 1 | 2 | |
| 271 | 234 | 210 | 1 | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 0 | 2 | |
| Operating Profit | 2 | 2 | 4 | -0 | 0 | 1 | -0 | 0 | -1 | 2 | 0 | 1 | -1 |
| OPM % | 0.76% | 1.02% | 1.91% | -51.92% | 14.18% | 24.91% | -53.85% | 6.67% | -74.59% | 65.71% | 15.56% | 83.58% | -35.66% |
| 44 | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 3 | 1 | 1 | 0 | 1 | |
| Interest | 2 | 1 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 43 | 1 | 2 | 0 | 0 | 1 | 0 | 1 | 1 | 2 | 0 | 0 | 0 |
| Tax % | 13.58% | 10.96% | 57.14% | 81.48% | 86.67% | 40.30% | 47.37% | 14.55% | 20.75% | 28.49% | 81.25% | 60.00% | 20.54% |
| Net Profit | 37 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 |
| 11.64 | 0.41 | 0.24 | 0.01 | 0.01 | 0.13 | 0.03 | 0.29 | 0.26 | 0.38 | 0.01 | 0.04 | 0.05 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 296 | 305 | 513 | 569 | 504 | 506 | 1,091 | 1,387 | 725 | 5 | 6 | |
| 289 | 295 | 500 | 550 | 495 | 496 | 1,076 | 1,368 | 716 | 5 | 4 | |
| Operating Profit | 6 | 10 | 13 | 19 | 9 | 9 | 15 | 19 | 8 | 1 | 2 |
| OPM % | 2.17% | 3.21% | 2.46% | 3.36% | 1.87% | 1.85% | 1.34% | 1.35% | 1.15% | 13.80% | 31.40% |
| 9 | 5 | 12 | 1 | 2 | 3 | 3 | 2 | 47 | 4 | 3 | |
| Interest | 8 | 6 | 4 | 8 | 7 | 6 | 7 | 9 | 5 | 0 | 0 |
| Depreciation | 5 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 2 | 2 |
| Profit before Tax | 2 | 5 | 17 | 9 | 1 | 3 | 7 | 8 | 47 | 2 | 2 |
| Tax % | 18.54% | 5.60% | 23.36% | 25.74% | 10.95% | 61.84% | 34.81% | 24.40% | 15.54% | 30.71% | 35.43% |
| Net Profit | 2 | 5 | 13 | 6 | 1 | 1 | 4 | 6 | 39 | 1 | 2 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.30 | 1.37 | 1.91 | 12.30 | 0.46 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -32%
- 5 Years:
- -60%
- 3 Years:
- -83%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -3%
- 5 Years:
- 6%
- 3 Years:
- -31%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 54%
- 3 Years:
- 71%
- 1 Year:
- 378%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 7%
- 3 Years:
- 10%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| 199 | 96 | 109 | 116 | 117 | 118 | 122 | 128 | 168 | 169 | |
| 80 | 74 | 46 | 104 | 38 | 102 | 101 | 117 | 0 | 1 | |
| Trade Payables | 6 | 2 | 2 | 4 | 8 | 8 | 21 | 29 | 0 | 0 |
| 19 | 10 | 6 | 7 | 3 | 4 | 7 | 17 | 14 | 1 | |
| Total Liabilities | 318 | 188 | 170 | 236 | 172 | 238 | 257 | 299 | 188 | 178 |
| 78 | 49 | 49 | 47 | 45 | 42 | 38 | 36 | 25 | 23 | |
| 26 | 1 | 15 | 20 | 20 | 20 | 20 | 20 | 36 | 37 | |
| 33 | 51 | 37 | 96 | 43 | 71 | 83 | 89 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | |
| Cash & Bank | 3 | 5 | 15 | 4 | 4 | 3 | 1 | 1 | 1 | 3 |
| 177 | 81 | 54 | 69 | 61 | 103 | 115 | 153 | 124 | 115 | |
| Total Assets | 318 | 188 | 170 | 236 | 172 | 238 | 257 | 299 | 188 | 178 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 22 | -16 | 31 | -40 | 61 | -44 | -11 | -14 | 180 | 5 | |
| Cash from Investing | 7 | 28 | 18 | -15 | -4 | -14 | 21 | 9 | -64 | 3 |
| Cash from Financing | -28 | -11 | -36 | 46 | -55 | 57 | -7 | 8 | -115 | -9 |
| -1 | 0 | 11 | -11 | 1 | -1 | -0 | 0 | 1 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Bhagyanagar India Limited has informed the Exchange about Intimation of Newspaper Advertisement Special Window for Transfer and Dematerialisation of Physical Securities
2026-09-08 - Bhagyanagar India Limited has informed the Exchange about Submission of copies of Newspaper Advertisement regarding the Notice of 41st Annual General Meeting (AGM), Book Closure and E-Voting Information.
2026-09-08 - Bhagyanagar India Limited has informed the Exchange about Submission of copies of Newspaper Advertisement regarding the Notice of 41st Annual General Meeting (AGM), Book Closure and E-Voting Information.
2026-09-07 - we would like to inform that the Composite Scheme of Arrangement between Bhagyanagar Copper Private Limited (BCPL or Transferor Company) and Bhagyanagar India Limited (BIL or Transferee Company or Demerged Company) and Tieramet Limited (Tieramet or Resulting Company) and their respective Shareholders and Creditors has been approved by the Hon Ble National Company Law Tribunal, Hyderabad Bench ('NCLT') vide Order passed today, i.e, 07th September, 2026. A copy of the Order is attached herewith
2026-09-07 - Bhagyanagar India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-02 - The Exchange had sought clarification from Bhagyanagar India Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-08-28 - Bhagyanagar India Limited has informed the Exchange regarding ' Listing Approval From BSE Limited & National Stock Exchange Of India Limited For 15,01,434 Equity Shares Of Rs 2/- Each Under Preferential Basis.'.Letter is hereby attached
2026-08-28 - Bhagyanagar India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-27 - Notice of 41st Annual General Meeting ( AGM ) of the Members of the Company to be held on Wednesday, September 30, 2026 at 11:00 A.M. (IST) through Video Conferencing / Other Audio Visual Means.
News
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