BSL Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2021 • Textile: 99.7% • Wind Power: 0.3%
AI Sector View
AI GENERATEDTextiles
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.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.08x)
- Company has delivered good sales growth of 15.4% CAGR over last 5 years
- Working capital cycle has improved - days down from 16 to 10
- Company generates healthy free cash flow
CONS
- Company has a high debt-to-equity of 3.66x
- Recent results are weak - TTM profit is down 14.8% versus prior year
- Company has a low return on capital employed of 7.8%
- Company has a low return on equity of 6.5% over last 3 years
- Interest coverage is weak at 1.1x - earnings barely cover interest
- A large part of profit comes from other income (25.6% of PBT)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SIYSIL | 548.30 | 10.48 | 2487.64 | 2.92 | 11.01 | 137.31 | 445.66 | 14.42 | 20.46 | 4.05 |
| UNITEDPOLY | 43.11 | 36.22 | 989.44 | 0.00 | 7.82 | 31.87 | 179.85 | 23.03 | 15.11 | 6.90 |
| VTMLTD | 52.69 | 62.15 | 529.90 | 0.00 | 19.32 | 319.54 | 984.04 | 1266.97 | 4.55 | 5.92 |
| MANOMAY | 234.80 | 21.04 | 423.78 | 0.00 | 4.95 | 11.28 | 197.51 | 20.48 | 12.74 | 10.01 |
| VGL | 56.96 | 0.00 | 293.51 | 0.00 | 78.81 | — | 1179.33 | — | 21.49 | 14.91 |
| JASCHIND | 289.00 | 8.73 | 196.46 | 0.00 | 5.07 | -4.97 | 59.32 | -3.79 | 19.22 | 11.43 |
| BSL | 123.00 | 34.86 | 126.59 | 0.00 | 1.72 | 266.38 | 169.72 | 7.41 | 6.01 | 8.42 |
| KGDENIM | 14.03 | 3.18 | 35.97 | 0.00 | 8.44 | 359.69 | 4.86 | -64.71 | -7.29 | -86.21 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 160 | 179 | 171 | 156 | 164 | 178 | 170 | 156 | 158 | 184 | 167 | 148 | 170 | |
| 145 | 163 | 153 | 140 | 148 | 162 | 154 | 143 | 146 | 171 | 154 | 138 | 168 | |
| Operating Profit | 15 | 16 | 18 | 16 | 15 | 16 | 16 | 12 | 12 | 14 | 13 | 10 | 2 |
| OPM % | 9.39% | 8.86% | 10.46% | 10.50% | 9.30% | 8.81% | 9.56% | 8.00% | 7.74% | 7.44% | 7.86% | 6.82% | 1.22% |
| 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 7 | 8 | 8 | 9 | 8 | 8 | 8 | 8 | 8 | 8 | 7 | 8 | 8 |
| Depreciation | 5 | 5 | 4 | 4 | 4 | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 5 |
| Profit before Tax | 3 | 4 | 5 | 3 | 3 | 3 | 4 | 0 | 1 | 2 | 2 | -1 | 2 |
| Tax % | 29.94% | 29.41% | 23.59% | 15.72% | 28.26% | 24.78% | 22.59% | -33.33% | 19.30% | 16.50% | 23.38% | 31.72% | 21.19% |
| Net Profit | 2 | 3 | 4 | 3 | 2 | 3 | 3 | 0 | 0 | 2 | 1 | -1 | 2 |
| 2.21 | 2.45 | 3.81 | 2.45 | 2.24 | 2.45 | 2.96 | 0.28 | 0.45 | 1.67 | 1.15 | -0.96 | 1.67 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 440 | 403 | 437 | 390 | 321 | 436 | 472 | 666 | 667 | 657 | 669 | |
| 404 | 373 | 407 | 361 | 293 | 396 | 418 | 601 | 607 | 608 | 630 | |
| Operating Profit | 36 | 30 | 31 | 29 | 29 | 40 | 53 | 65 | 60 | 49 | 39 |
| OPM % | 8.08% | 7.41% | 7.04% | 7.45% | 8.99% | 9.16% | 11.33% | 9.78% | 8.93% | 7.48% | 5.83% |
| 4 | 3 | 4 | 2 | 1 | 2 | -1 | 1 | 1 | 1 | 0 | |
| Interest | 15 | 14 | 18 | 18 | 17 | 14 | 19 | 33 | 32 | 30 | 30 |
| Depreciation | 16 | 17 | 16 | 13 | 12 | 12 | 11 | 18 | 18 | 17 | 17 |
| Profit before Tax | 9 | 2 | 1 | -1 | 1 | 16 | 23 | 15 | 11 | 3 | 4 |
| Tax % | 34.69% | 41.43% | 24.70% | 292.11% | -10.43% | 28.19% | 25.04% | 24.78% | 23.87% | 12.74% | 16.22% |
| Net Profit | 6 | 1 | 1 | 2 | 1 | 11 | 17 | 11 | 8 | 2 | 4 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 1.32 | 11.15 | 16.43 | 10.91 | 7.93 | 2.31 | — |
| Dividend Payout % | 20.85% | 100.20% | 0.00% | 0.00% | 0.00% | 10.76% | 9.13% | 9.16% | 10.09% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 15%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -10%
- 5 Years:
- 12%
- 3 Years:
- -48%
STOCK PRICE CAGR
- 10 Years:
- 6%
- 5 Years:
- 12%
- 3 Years:
- -11%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 10%
- 3 Years:
- 6%
- Last Year:
- 2%
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 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| 69 | 67 | 66 | 65 | 68 | 79 | 94 | 102 | 109 | 110 | |
| 162 | 164 | 175 | 164 | 163 | 187 | 347 | 417 | 395 | 417 | |
| Trade Payables | 39 | 50 | 48 | 53 | 21 | 48 | 46 | 25 | 45 | 38 |
| 50 | 46 | 28 | 29 | 28 | 34 | 45 | 63 | 67 | 65 | |
| Total Liabilities | 330 | 337 | 328 | 322 | 290 | 359 | 542 | 618 | 627 | 640 |
| 111 | 115 | 100 | 89 | 78 | 74 | 229 | 231 | 219 | 231 | |
| Capital Work in Progress | 4 | 1 | 1 | 0 | 0 | 6 | 0 | 0 | 6 | 17 |
| 102 | 116 | 118 | 139 | 116 | 141 | 185 | 210 | 240 | 222 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 144 | 131 | 143 | |
| Cash & Bank | 1 | 1 | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 0 |
| 113 | 106 | 108 | 93 | 95 | 136 | 127 | 32 | 30 | 28 | |
| Total Assets | 330 | 337 | 328 | 322 | 290 | 359 | 542 | 618 | 627 | 640 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 38 | 21 | 30 | 15 | 7 | 23 | -39 | 57 | 49 | |
| Cash from Investing | -24 | -17 | -0 | -2 | -1 | -15 | -160 | -20 | -11 | -39 |
| Cash from Financing | 13 | -21 | -20 | -27 | -15 | 13 | 141 | 60 | -46 | -10 |
| 0 | -0 | -0 | 0 | -0 | 0 | -0 | -0 | -0 | 0 |
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
2026-09-03 - BSL Limited has informed the Exchange about Credit Rating
2026-09-02 - BSL Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 01, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-01 - BSL Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 01, 2026
2026-08-22 - BSL Limited has informed the Exchange about change in Management
2026-08-22 - BSL Limited has informed the Exchange regarding Outcome of Board Meeting held on August 22, 2026.
2026-08-19 - BSL Limited has informed the Exchange regarding 'Re-lodgement of Transfer Requests of Physical Shares'.
2026-08-14 - BSL Limited has informed the Exchange about General Updates
2026-08-12 - BSL Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - BSL Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "Press Release of the company.".
News
Recent coverage and analyst commentary for BSL
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