BirlaNu Ltd.

•

birlanu.comBSE: 509675NSE: BIRLANU

Market Cap₹ 1,090 Cr.

Current Price

High / Low₹ 2,087 / 1,190

Stock P/E—

Book Value₹ 1,476

Price to Book0.82

Dividend Yield1.04 %

ROCE-2.5 %

ROE-10.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Flooring Solutions: 34.5% • Roofing Solutions: 30.5% • Polymer Solutions: 18.5%

AI Sector View

AI GENERATED

Construction Materials

Buy

Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.

Confidence

69%

View full sector analysis →

PROS

Latest quarter profit grew 812.1% YoY, showing strong momentum
Working capital cycle has improved - days down from -3 to -20
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -3.4% over last 3 years
Company has a low return on capital employed of 1.0%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.18x)
Interest coverage is weak at -0.7x - earnings barely cover interest

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

Peer comparison

Construction MaterialsConstruction MaterialsCement & Construction Materials

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

S.No.	Name
1.	ULTRACEMCO	11348.00	39.16	334401.92	2.11	2603.72	17.24	24648.20	15.85	13.25	20.35
2.	AMBUJACEM	405.50	23.02	100759.34	0.49	660.00	-31.93	9500.00	-7.67	6.24	16.78
3.	SHREECEM	23967.10	53.05	86475.09	0.63	531.12	-17.48	6233.13	18.03	10.61	20.41
4.	JKCEMENT	5066.10	41.40	39144.87	0.39	274.62	-15.31	4031.72	20.26	14.89	16.07
5.	DALBHARAT	1748.75	35.16	32800.60	0.51	192.00	-51.39	3890.00	6.99	8.15	20.69
6.	ACC	1283.45	12.63	24101.56	0.58	147.00	-60.84	5808.00	-4.59	11.60	7.90
7.	RAMCOCEM	882.25	32.33	20846.90	0.28	31.24	-63.06	2273.05	9.60	10.75	13.49
8.	JSWCEMENT	124.10	22.25	16919.36	0.40	153.43	111.23	1896.41	21.58	-4.21	16.41
9.	NUVOCO	352.15	32.59	12577.25	0.00	159.63	19.88	3128.71	8.91	7.11	18.16
10.	INDIACEM	362.65	121.51	11238.42	0.00	26.85	120.20	1019.42	-0.52	0.30	15.28
11.	STARCEMENT	189.90	20.76	7675.39	0.53	73.91	-24.71	942.89	3.39	8.42	20.63
12.	BIRLANU	1445.30	33.47	1089.89	1.04	9.40	812.12	1174.02	11.57	-2.46	6.21

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
	1,016	723	784	852	1,107	774	805	929	1,052	810	858	1,010	1,174
	928	720	768	834	1,038	816	806	906	1,013	820	871	1,018	1,156
Operating Profit	87	3	17	18	69	-41	-1	22	40	-10	-13	-8	18
OPM %	8.59%	0.42%	2.11%	2.07%	6.23%	-5.30%	-0.08%	2.41%	3.77%	-1.20%	-1.49%	-0.76%	1.56%
	27	19	10	11	5	101	4	10	19	14	12	49	7
Interest	10	17	8	1	17	17	17	17	17	15	18	18	17
Depreciation	30	29	30	31	36	36	37	36	37	38	38	39	38
Profit before Tax	74	-24	-11	-3	22	7	-51	-20	5	-49	-57	-15	25
Tax %	21.23%	36.09%	30.59%	105.97%	39.70%	-123.43%	30.59%	-24.75%	125.24%	12.00%	7.07%	-44.82%	62.96%
Net Profit	0	0	0	0	13	15	-35	-25	-1	-43	-53	-22	9
	76.76	-20.94	-9.52	-0.15	16.74	19.45	-47.05	-32.77	-1.75	-56.84	-70.32	-29.64	12.47

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,100	1,280	2,169	2,555	3,044	3,520	3,479	3,375	3,615	3,730	3,852
	1,002	1,133	1,925	2,318	2,637	3,135	3,256	3,252	3,557	3,721	3,864
Operating Profit	98	146	244	237	407	385	223	123	59	10	-12
OPM %	8.87%	11.43%	11.23%	9.29%	13.37%	10.93%	6.41%	3.64%	1.62%	0.26%	-0.31%
	12	24	6	25	20	37	25	69	111	94	82
Interest	9	4	25	39	28	13	20	35	68	68	68
Depreciation	40	47	68	97	109	116	111	120	144	151	153
Profit before Tax	60	120	157	127	292	295	117	36	-43	-116	-96
Tax %	33.37%	32.65%	39.27%	22.01%	26.54%	28.69%	16.81%	2.13%	24.29%	-3.06%	-13.61%
Net Profit	40	81	95	99	214	210	97	35	-33	-120	-109
EPS	53.53	108.01	135.34	141.44	345.72	278.72	129.06	46.13	-43.63	-158.55	—
Dividend Payout %	32.69%	20.79%	18.42%	14.12%	11.54%	23.21%	34.93%	81.29%	-68.75%	-9.46%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -26%

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 3%
3 Years:: -3%
Last Year:: -10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	7	7	7	7	8	8	8	8	8
	454	558	629	733	985	1,157	1,236	1,242	1,197	1,096
	148	71	604	658	367	302	420	712	856	988
Trade Payables	126	196	335	324	320	369	339	392	428	440
	175	186	399	433	434	388	362	389	431	538
Total Liabilities	910	1,019	1,975	2,154	2,113	2,223	2,364	2,743	2,920	3,071
	508	471	1,060	1,099	1,136	1,111	1,198	1,391	1,666	1,825
Capital Work in Progress	11	49	32	35	11	23	30	42	55	40
	7	121	1	18	33	3	2	104	0	0
	223	185	494	571	487	716	684	714	683	687
	0	0	0	0	0	0	0	154	200	207
Cash & Bank	4	14	67	89	130	73	63	136	81	55
	156	179	320	342	317	296	387	203	235	257
Total Assets	910	1,019	1,975	2,154	2,113	2,223	2,364	2,743	2,920	3,071

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	54	224	206	175	558	259	151	173	82	119
Cash from Investing	-52	-165	-345	-120	-34	-50	-178	-163	-52	-147
Cash from Financing	12	-20	266	8	-390	-179	42	62	-90	-31
	-2	2	56	18	42	-63	-4	72	-60	-60

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	53.53	108.21	135.72	141.68	346.68	280.07	128.83	46.13	-43.63	-158.55
Book Value (₹)	610.53	757.32	851.25	990.31	1324.58	1549.25	1649.72	1656.77	1597.47	1463.48
Dividend per Share (₹)	17.50	22.50	25.00	20.00	40.00	65.00	45.00	37.50	30.00	15.00
Cash EPS (₹)	107.04	171.06	217.63	262.15	431.37	434.85	275.79	205.28	147.43	42.23
PROFITABILITY
Operating Margin %	9.09%	12.31%	11.70%	9.73%	13.27%	11.42%	6.78%	3.46%	1.54%	0.24%
Net Margin %	3.24%	5.83%	4.11%	3.68%	6.65%	5.70%	2.65%	0.98%	-0.87%	-3.04%
ROE %	8.77%	15.82%	15.83%	14.38%	24.73%	19.52%	8.07%	2.79%	-2.68%	-10.36%
ROCE %	11.28%	19.84%	18.75%	11.86%	22.11%	21.52%	8.78%	4.11%	1.33%	-2.46%
	4.39%	8.38%	6.35%	4.79%	10.04%	9.71%	4.23%	1.36%	-1.16%	-3.99%
EFFICIENCY
Debtor Days	30	26	19	18	12	10	12	14	17	19
Inventory Days	66	54	54	72	60	59	70	72	67	64
Payable Days	73	96	89	92	74	64	63	70	71	74
	23	-16	-16	-2	-2	5	19	17	13	8
FINANCIAL HEALTH
Debt to Equity (x)	0.35x	0.12x	1.05x	1.00x	0.41x	0.25x	0.33x	0.44x	0.59x	0.77x
Interest Coverage (x)	7.41x	32.01x	7.22x	4.29x	11.47x	24.41x	6.97x	2.01x	0.36x	-0.70x
	1.12x	1.33x	1.21x	1.15x	1.28x	1.36x	1.36x	1.41x	0.97x	0.84x
GROWTH
Revenue Growth %	0.00%	16.37%	69.47%	17.80%	17.32%	15.66%	-1.17%	-2.99%	7.12%	3.19%
Operating Profit Growth %	0.00%	52.38%	58.59%	-3.25%	57.95%	-1.28%	-41.15%	-37.85%	-42.93%	-27.00%
Net Profit Growth %	0.00%	102.15%	17.74%	4.09%	103.43%	-1.78%	-53.86%	-64.18%	-194.59%	-263.37%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-64.19%	-194.59%	-263.37%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	56.43x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.57x	1.13x	0.82x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.44%	1.66%	1.25%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.40x	22.57x	26.52x

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57	40.57
1.54	1.35	1.29	1.40	2.05	2.23	2.64	2.87	2.74
3.27	3.57	2.48	0.10	0.11	0.14	0.14	0.06	0.08
4.05	4.05	4.05	4.05	4.05	4.05	4.05	4.05	4.05
50.57	50.46	51.61	53.88	53.22	53.01	52.60	52.45	52.56

Documents

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

2026-08-17

General Updates

2026-08-17 - BirlaNu Limited informed that the Company has today, i.e. August 17, 2026, entered into Share Subscription and Shareholder Agreement ( SSHA ) with Fourth Partner Energy Private Limited and FPEL HR5 Energy Private Limited.

2026-08-12

Updates

2026-08-12 - BirlaNu Limited has informed the Exchange regarding 'Notice to shareholders regarding opening of Special Window for transfer and dematerialisation of physical securities'.

2026-08-12

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - BirlaNu Limited has informed the Exchange about Transcript

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - BirlaNu Limited has informed the Exchange about Link of Recording

2026-08-07

Copy of Newspaper Publication

2026-08-07 - BirlaNu Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-06

Shareholders meeting

2026-08-06 - BirlaNu Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 06, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-06

Shareholders meeting

2026-08-06 - BirlaNu Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 06, 2026

2026-08-06

Investor Presentation

2026-08-06 - BirlaNu Limited has informed the Exchange about Investor Presentation

2026-08-06

Capacity addition

2026-08-06 - BirlaNu Limited has informed the Exchange about Capacity addition

News

Recent coverage and analyst commentary for BIRLANU

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