Bharat Seats Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has delivered good profit growth of 54.4% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 20.8%
- Latest quarter profit grew 43.9% YoY, showing strong momentum
- Company has delivered good sales growth of 28.9% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.60x)
CONS
- Valuation is stretched - P/E of 29.3 is well above its own 5-year median (14.8)
- Growth is decelerating - 3Y profit CAGR (25.1%) trails the 5Y trend (54.4%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 164.00 | 39.52 | 173092.86 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48602.60 | 60.66 | 143358.71 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1223.50 | 58.77 | 70653.11 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2650.00 | 84.58 | 51296.66 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 803.10 | 72.02 | 50123.75 | 0.42 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2716.60 | 39.40 | 38212.47 | 0.42 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| CRAFTSMAN | 11852.65 | 66.68 | 30999.93 | 0.09 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2528.05 | 57.63 | 28770.60 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4107.40 | 73.56 | 25631.64 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.32 | 38.39 | 24086.20 | 1.60 | 1453.20 | 915.51 | 34072.60 | 1266.17 | 43.72 | 7.58 |
| GABRIEL | 1340.50 | 79.82 | 23757.68 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| BHARATSE | 215.70 | 29.28 | 1354.60 | 0.70 | 13.21 | 43.93 | 577.83 | 35.30 | 24.45 | 4.88 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 253 | 286 | 250 | 278 | 299 | 291 | 306 | 393 | 427 | 459 | 491 | 574 | 578 | |
| 241 | 269 | 235 | 261 | 282 | 273 | 288 | 370 | 405 | 436 | 466 | 545 | 561 | |
| Operating Profit | 12 | 17 | 15 | 17 | 17 | 18 | 19 | 23 | 22 | 23 | 25 | 30 | 17 |
| OPM % | 4.79% | 5.93% | 5.86% | 6.15% | 5.52% | 6.08% | 6.06% | 5.78% | 5.09% | 4.93% | 5.12% | 5.16% | 2.88% |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | -0 | 1 | 1 | |
| Interest | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 |
| Depreciation | 5 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 8 | 9 | 9 | 9 | 9 |
| Profit before Tax | 6 | 9 | 8 | 11 | 9 | 10 | 10 | 15 | 12 | 13 | 13 | 19 | 18 |
| Tax % | 26.92% | 25.47% | 27.12% | 23.29% | 25.53% | 25.96% | 26.17% | 24.72% | 25.69% | 25.51% | 26.39% | 28.40% | 25.43% |
| Net Profit | 5 | 7 | 6 | 8 | 7 | 7 | 8 | 11 | 9 | 10 | 10 | 13 | 13 |
| 1.49 | 2.16 | 0.88 | 1.29 | 1.05 | 1.13 | 1.21 | 1.81 | 1.46 | 1.58 | 1.58 | 2.11 | 2.10 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 840 | 970 | 904 | 589 | 548 | 818 | 1,051 | 1,067 | 1,289 | 1,951 | 2,102 | |
| 803 | 906 | 854 | 553 | 521 | 785 | 1,005 | 1,006 | 1,213 | 1,852 | 2,008 | |
| Operating Profit | 37 | 65 | 50 | 36 | 27 | 32 | 46 | 61 | 75 | 99 | 94 |
| OPM % | 4.39% | 6.66% | 5.49% | 6.09% | 4.90% | 3.93% | 4.40% | 5.70% | 5.85% | 5.08% | 4.48% |
| 1 | 1 | 5 | 2 | 2 | 5 | 4 | 5 | 4 | 4 | 4 | |
| Interest | 4 | 3 | 3 | 3 | 4 | 4 | 4 | 8 | 9 | 10 | 10 |
| Depreciation | 17 | 19 | 21 | 22 | 18 | 18 | 17 | 24 | 26 | 35 | 37 |
| Profit before Tax | 17 | 44 | 31 | 12 | 7 | 16 | 30 | 34 | 44 | 58 | 63 |
| Tax % | 27.63% | 35.14% | 31.40% | -2.45% | 27.68% | 25.14% | 27.28% | 25.39% | 25.51% | 26.69% | 26.53% |
| Net Profit | 12 | 28 | 21 | 13 | 5 | 12 | 22 | 25 | 33 | 42 | 46 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 1.53 | 3.79 | 6.86 | 7.98 | 5.21 | 6.72 | — |
| Dividend Payout % | 23.22% | 11.13% | 14.66% | 12.54% | 32.67% | 21.09% | 20.40% | 20.05% | 21.12% | 22.31% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 29%
- 3 Years:
- 23%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- 54%
- 3 Years:
- 25%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 30%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 16%
- 3 Years:
- 18%
- Last Year:
- 20%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 13 | 13 |
| 56 | 80 | 98 | 107 | 110 | 121 | 140 | 161 | 182 | 217 | |
| 52 | 23 | 29 | 39 | 35 | 39 | 64 | 148 | 134 | 93 | |
| Trade Payables | 123 | 149 | 120 | 72 | 121 | 130 | 118 | 143 | 258 | 319 |
| 27 | 25 | 19 | 17 | 19 | 41 | 29 | 48 | 61 | 96 | |
| Total Liabilities | 265 | 285 | 273 | 242 | 291 | 337 | 358 | 505 | 648 | 737 |
| 146 | 136 | 152 | 150 | 126 | 147 | 199 | 276 | 283 | 356 | |
| Capital Work in Progress | 0 | 13 | 0 | 22 | 30 | 8 | 12 | 49 | 90 | 12 |
| 15 | 27 | 22 | 21 | 30 | 53 | 29 | 40 | 55 | 60 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 103 | 197 | 263 | |
| Cash & Bank | 1 | 3 | 10 | 1 | 1 | 1 | 1 | 0 | 3 | 15 |
| 102 | 105 | 89 | 48 | 104 | 128 | 117 | 37 | 20 | 30 | |
| Total Assets | 265 | 285 | 273 | 242 | 291 | 337 | 358 | 505 | 648 | 737 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 41 | 83 | 45 | 33 | 21 | 18 | 59 | 57 | 96 | 107 | |
| Cash from Investing | -17 | -23 | -24 | -34 | -12 | -15 | -59 | -73 | -68 | -47 |
| Cash from Financing | -22 | -44 | -4 | -3 | -7 | -2 | 17 | 16 | -25 | -47 |
| 0 | 2 | 7 | -9 | -0 | -1 | 0 | -0 | 3 | 12 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Bharat Seats Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-08 - Bharat Seats Limited has informed the Exchange regarding Notice of Postal Ballot
2026-08-05 - Bharat Seats Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-05 - Bharat Seats Limited has informed the Exchange about Notice of Postal Ballot for seeking shareholders approval the appointment of Directors and enhancement of Borrowing limits.
2026-08-04 - Bharat Seats Limited has informed the Exchange about change in Management
2026-08-04 - Bharat Seats Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-08-04 - Outcome of the meeting of Board of Directors as per Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR) Regulations, 2015]
2026-08-04 - Bharat Seats Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-30 - Bharat Seats Limited has informed the Exchange regarding Resignation of Mr C.V Raman as Director of the company w.e.f. July 30, 2026.
News
Recent coverage and analyst commentary for BHARATSE
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