Bhandari Hosiery Exports Ltd.

•

bhandariexport.comBSE: 512608NSE: BHANDARI

Market Cap₹ 100 Cr.

Current Price

High / Low₹ 5 / 2

Stock P/E13.4

Book Value₹ 6

Price to Book0.38

Dividend Yield0.33 %

ROCE7.9 %

ROE4.6 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Company has delivered good profit growth of 36.0% CAGR over last 5 years
Promoters have been increasing their shareholding - up 14.2pp over 2 years
Company has a consistent dividend-paying track record

CONS

Operating cash flow has been negative in recent years
Company has a low return on equity of 5.9% over last 3 years
Company has a low return on capital employed of 9.0%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.76x)
Interest coverage is weak at 2.0x - earnings barely cover interest

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

Peer comparison

TextilesTextileTextile

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

S.No.	Name
1.	PAGEIND	36184.20	53.40	40359.40	1.52	1928.06	860.21	14204.45	978.91	73.60	20.35
2.	KPRMILL	1170.30	43.85	40002.49	0.43	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	200.05	68.08	18899.77	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	587.40	20.06	17009.74	0.85	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	572.70	37.62	15579.77	0.79	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	542.70	32.73	13186.43	1.43	66.90	37.31	267.95	22.74	33.92	45.53
7.	PGIL	2358.75	35.11	10895.19	0.61	99.23	51.37	1528.26	24.46	22.42	10.72
8.	SWANCORP	284.90	39.94	8930.39	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
9.	ICIL	447.65	58.76	8865.90	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
10.	GARFIBRES	814.50	37.86	7953.46	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	570.25	60.97	5987.13	0.00	426.47	—	2472.47	—	26.15	30.50
12.	BHANDARI	3.00	811.51	99.89	0.33	1.30	-19.94	50.85	-19.18	7.88	11.72

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
	54	64	60	89	58	68	63	89	63	68	59	90	51
	49	57	54	82	51	62	56	82	56	61	52	83	49
Operating Profit	5	6	6	7	7	6	7	7	6	7	7	7	6
OPM %	9.52%	10.09%	10.44%	8.09%	12.18%	9.38%	11.52%	8.33%	10.19%	10.18%	12.36%	7.76%	11.72%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	2	3	3	3	3	3	3	3	3	3	3	3	2
Depreciation	1	1	1	2	2	1	2	2	2	2	2	2	2
	2	2	2	3	2	2	3	3	2	3	3	3	2
Tax %	14.29%	25.66%	17.67%	37.88%	25.13%	28.02%	28.21%	16.14%	25.46%	22.76%	18.22%	35.40%	26.52%
Net Profit	1	2	2	2	1	2	2	3	2	2	2	2	1
	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity Capital	15	15	16	16	16	24	24	24	24	24	24	33	33
Reserves	74	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

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
	214	248	266	277	226	283	283	267	279	280	268
	201	231	247	256	208	261	260	242	250	253	245
Operating Profit	13	18	20	22	18	23	23	25	28	28	—
OPM %	6	7	7	8	8	8	8	10	10	10	—
Other Income	0	0	0	0	0	0	0	0	0	0	0
Interest	5	7	9	10	11	10	10	11	11	11	10
Depreciation	3	4	4	5	5	5	5	5	7	7	7
	5	6	6	6	2	7	8	9	10	10	10
Tax %	20	16	15	15	21	8	18	25	24	26	26
Net Profit	4	5	5	5	2	6	7	7	8	8	7
EPS	0	0	0	0	0	0	0	0	0	0	—
Dividend Payout %	3	3	3	3	9	2	2	3	6	4	—
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	0
Adjusted EPS	0	0	0	0	0	0	0	0	0	0	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 4%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: 36%
3 Years:: 6%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 6%
3 Years:: -18%
1 Year:: -32%

RETURN ON EQUITY

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

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	15	15	15	15	15	15	15	16	24	33
	44	49	54	59	61	67	72	83	129	150
	44	55	60	71	70	68	78	78	70	77
Trade Payables	10	14	11	11	9	12	13	18	10	17
	36	39	40	50	54	57	39	55	42	40
Total Liabilities	149	172	180	205	207	218	217	251	276	318
ASSETS	-	-	-	-	-	-	-	-	-	-
	46	56	53	65	60	56	52	79	74	69
Capital Work in Progress	1	0	1	0	2	0	1	0	0	0
	47	59	69	72	77	74	80	86	83	94
	0	0	0	0	0	0	0	59	89	91
Cash & Bank	1	2	2	1	2	2	2	1	0	19
	55	55	56	67	66	86	83	26	30	44
Total Assets	149	172	180	205	207	218	217	251	276	318
Total Debt	73	82	87	105	108	103	104	117	97	101
Net Working Capital	30	38	46	47	56	66	63	67	107	139
Contingent Liabilities	7	1	9	0	0	0	0	0	0	0
Book Value per Share	4.03	4.34	4.69	5.04	5.15	5.57	5.95	6.09	6.38	5.51
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

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
	-6	2	-3	-2	-0	4	12	16	-25	-7
Cash from Investing	-9	-14	-2	-17	-2	1	-3	-29	-2	-1
Cash from Financing	14	13	5	18	3	-5	-10	12	27	27
	-1	1	-0	-1	1	0	-0	-1	-0	19
Free Cash Flow	-14	-12	-5	-19	-2	4	10	-15	-27	-9
OCF / Net Profit	-1.41	0.39	-0.62	-0.42	-0.12	0.66	1.88	2.44	-3.30	-0.95
Cumulative 5-Year FCF	0	0	0	0	-52	-34	-12	-22	-31	-38

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
PER SHARE
EPS (₹)	0.29	0.34	0.37	0.36	0.11	0.43	0.44	0.40	0.32	0.23
Book Value (₹)	4.03	4.34	4.69	5.04	5.15	5.57	5.95	6.09	6.38	5.51
Dividend per Share (₹)	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.01
Cash EPS (₹)	0.44	0.54	0.58	0.62	0.42	0.70	0.70	0.67	0.61	0.44
PROFITABILITY
Operating Margin %	6.12%	7.05%	7.46%	7.75%	8.09%	7.97%	8.27%	9.39%	10.11%	9.86%
Net Margin %	1.97%	2.00%	2.01%	1.91%	0.74%	2.21%	2.30%	2.45%	2.77%	2.77%
ROE %	7.38%	8.08%	8.09%	7.45%	2.24%	7.99%	7.71%	7.00%	6.10%	4.62%
ROCE %	8.25%	9.63%	10.32%	9.86%	7.09%	9.29%	9.69%	9.78%	9.24%	7.88%
	3.07%	3.09%	3.05%	2.76%	0.81%	2.95%	2.99%	2.79%	2.93%	2.62%
EFFICIENCY
Debtor Days	62	65	61	63	84	77	89	88	97	117
Inventory Days	77	78	88	93	120	97	99	113	110	115
Payable Days	20	22	21	18	20	17	21	28	26	25
	119	120	127	137	184	157	167	173	182	207
FINANCIAL HEALTH
Debt to Equity (x)	1.24x	1.29x	1.26x	1.42x	1.44x	1.27x	1.20x	1.17x	0.63x	0.55x
Interest Coverage (x)	2.12x	1.79x	1.69x	1.61x	1.20x	1.67x	1.76x	1.78x	1.90x	1.98x
	1.49x	1.49x	1.57x	1.50x	1.63x	1.68x	1.63x	1.65x	2.16x	2.29x
GROWTH
Revenue Growth %	7.58%	16.25%	7.21%	4.19%	-18.61%	25.46%	-0.02%	-5.82%	4.43%	0.64%
Operating Profit Growth %	-14.49%	34.06%	13.44%	8.19%	-15.09%	23.72%	3.75%	8.30%	11.97%	-1.36%
Net Profit Growth %	3.33%	17.92%	8.04%	-0.81%	-68.58%	275.70%	3.77%	0.42%	18.06%	0.71%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-9.96%	-19.63%	-27.39%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.70x	14.78x	9.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.20x	0.74x	0.38x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.42%	0.48%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	9.30x	7.41x	5.42x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	27.63	31.02	31.02	31.02	31.02	31.02	31.02	41.83	41.83
	0.00	0.00	0.12	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	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
	72.37	68.98	68.86	68.98	68.98	68.98	68.98	58.17	58.17

Documents

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

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Bhandari Hosiery Exports Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-20

General Updates

2026-08-20 - Bhandari Hosiery Exports Limited has informed the Exchange about disclosure under Regulation 36(1)(b) of SEBI (LODR) Regulations, 2015, Letter to Shareholders who have not registered their email id.

2026-08-20

Record Date

2026-08-20 - Bhandari Hosiery Exports Limited has informed the Exchange that Record date for the purpose of Dividend & Annual General Meeting is 08-Sep-2026.

2026-08-20

Updates

2026-08-20 - Bhandari Hosiery Exports Limited has informed the Exchange regarding 'Notice Convening 33rd Annual General Meeting, Intimation of Book Closure, Cut-off Date, E-Voting Information and Dividend Payment.'.

2026-08-20

Shareholders meeting

2026-08-20 - Bhandari Hosiery Exports Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Bhandari Hosiery Exports Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Monitoring Agency Report

2026-08-14 - Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Monitoring Agency Report as approved by the Audit Committee and Board of Directors in their meeting held on 13.08.2026 in respect of the utilization of proceeds of Rights Issue, for the quarter ended June 30, 2026 issued by Crisil Ratings Limited, Monitoring Agency.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Bhandari Hosiery Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-11

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-11 - Bhandari Hosiery Exports Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for BHANDARI

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Name

PAGEIND

36184.20

53.40

40359.40

1.52

1928.06

860.21

14204.45

978.91

73.60

20.35

KPRMILL

1170.30

43.85

40002.49

0.43

258.54

21.55

1935.52

14.77

20.16

19.37

WELSPUNLIV

200.05

68.08

18899.77

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

587.40

20.06

17009.74

0.85

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

572.70

37.62

15579.77

0.79

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

542.70

32.73

13186.43

1.43

66.90

37.31

267.95

22.74

33.92

45.53

PGIL

2358.75

35.11

10895.19

0.61

99.23

51.37

1528.26

24.46

22.42

10.72

SWANCORP

284.90

39.94

8930.39

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

ICIL

447.65

58.76

8865.90

0.34

63.22

67.28

1206.96

25.89

8.73

11.88

GARFIBRES

814.50

37.86

7953.46

1.10

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

570.25

60.97

5987.13

0.00

426.47

—

2472.47

—

26.15

30.50

BHANDARI

3.00

811.51

99.89

0.33

1.30

-19.94

50.85

-19.18

7.88

11.72

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

Operating Profit

OPM %

9.52%

10.09%

10.44%

8.09%

12.18%

9.38%

11.52%

8.33%

10.19%

10.18%

12.36%

7.76%

11.72%

Other Income

Interest

Depreciation

Tax %

14.29%

25.66%

17.67%

37.88%

25.13%

28.02%

28.21%

16.14%

25.46%

22.76%

18.22%

35.40%

26.52%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

214

248

266

277

226

283

267

279

280

268

201

231

247

256

208

261

260

242

250

253

245

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

129

150

Trade Payables

Total Liabilities

149

172

180

205

207

218

217

251

276

318

ASSETS

Capital Work in Progress

Cash & Bank

Total Assets

149

172

180

205

207

218

217

251

276

318

Total Debt

105

108

103

104

117

101

Net Working Capital

107

139

Contingent Liabilities

Book Value per Share

4.03

4.34

4.69

5.04

5.15

5.57

5.95

6.09

6.38

5.51

Face Value

1.00

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-6

-3

-2

-0

-25

-7

Cash from Investing

-9

-14

-2

-17

-2

-3

-29

-2

-1

Cash from Financing

-5

-10

-1

-0

-1

-0

-1

-0

Free Cash Flow

-14

-12

-5

-19

-2

-15

-27

-9

OCF / Net Profit

-1.41

0.39

-0.62

-0.42

-0.12

0.66

1.88

2.44

-3.30

-0.95

Cumulative 5-Year FCF

-52

-34

-12

-22

-31

-38

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

0.29

0.34

0.37

0.36

0.11

0.43

0.44

0.40

0.32

0.23

Book Value (₹)

4.03

4.34

4.69

5.04

5.15

5.57

5.95

6.09

6.38

5.51

Dividend per Share (₹)

0.01

0.02

0.01

Cash EPS (₹)

0.44

0.54

0.58

0.62

0.42

0.70

0.67

0.61

0.44

PROFITABILITY

Operating Margin %

6.12%

7.05%

7.46%

7.75%

8.09%

7.97%

8.27%

9.39%

10.11%

9.86%

Net Margin %

1.97%

2.00%

2.01%

1.91%

0.74%

2.21%

2.30%

2.45%

2.77%

ROE %

7.38%

8.08%

8.09%

7.45%

2.24%

7.99%

7.71%

7.00%

6.10%

4.62%

ROCE %

8.25%

9.63%

10.32%

9.86%

7.09%

9.29%

9.69%

9.78%

9.24%

7.88%

3.07%

3.09%

3.05%

2.76%

0.81%

2.95%

2.99%

2.79%

2.93%

2.62%

EFFICIENCY

Debtor Days

117

Inventory Days

120

113

110

115

Payable Days

119

120

127

137

184

157

167

173

182

207

FINANCIAL HEALTH

Debt to Equity (x)

1.24x

1.29x

1.26x

1.42x

1.44x

1.27x

1.20x

1.17x

0.63x

0.55x

Interest Coverage (x)

2.12x

1.79x

1.69x

1.61x

1.20x

1.67x

1.76x

1.78x

1.90x

1.98x

1.49x

1.57x

1.50x

1.63x

1.68x

1.63x

1.65x

2.16x

2.29x

GROWTH

Revenue Growth %

7.58%

16.25%

7.21%

4.19%

-18.61%

25.46%

-0.02%

-5.82%

4.43%

0.64%

Operating Profit Growth %

-14.49%

34.06%

13.44%

8.19%

-15.09%

23.72%

3.75%

8.30%

11.97%

-1.36%

Net Profit Growth %

3.33%

17.92%

8.04%

-0.81%

-68.58%

275.70%

3.77%

0.42%

18.06%

0.71%

0.00%

-9.96%

-19.63%

-27.39%

VALUATION

P/E (x)

0.00x

16.70x

14.78x

9.00x

P/B (x)

0.00x

1.20x

0.74x

0.38x

Dividend Yield %

0.00%

0.14%

0.42%

0.48%

0.00x

9.30x

7.41x

5.42x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

27.63

31.02

41.83

0.00

0.12

0.00

DIIs

0.00

Government

0.00

72.37

68.98

68.86

68.98

58.17

Bhandari Hosiery Exports Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

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Shareholding Pattern

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Bhandari Hosiery Exports Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI