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Swing Capital

Bharat Gears Ltd

NSE: BHARATGEAR BSE: 505688

Bharat Gears Ltd (BHARATGEAR) is a Diversified company listed on NSE: BHARATGEAR | BSE: 505688. With a market cap of ₹166 Cr and ROCE of 1.88%, ROE of 11.8%, it operates in the Indian Diversified sector.

₹108
52W: ₹75.6 — ₹154
PE 12.6 · Book ₹79.4 · +36% vs book
Market Cap₹166 Cr
Stock P/E12.6Price to Earnings
ROCE1.88%Return on Capital
ROE11.8%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company's working capital requirements have reduced from 23.7 days to 15.9 days

Weaknesses

  • −The company has delivered a poor sales growth of 6.93% over past five years.
  • −Company has a low return on equity of -2.99% over last 3 years.
  • −Company's cost of borrowing seems high

Shareholding Pattern

Promoters55.33%
FIIs1.41%
DIIs0.03%
Public43.23%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.32%55.32%55.32%55.32%55.32%55.32%55.33%▲0.055.33%
FIIs1.27%1.25%▼0.01.23%▼0.01.26%▲0.01.23%▼0.01.23%1.39%▲0.21.41%▲0.0
DIIs0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public43.37%43.39%▲0.043.42%▲0.043.39%▼0.043.41%▲0.043.42%▲0.043.26%▼0.243.23%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales179.02142.78170.77166.01164.58142.08174.86179.8204.74189.35
Expenses172.11141.99163.47158.48156.85144.65162.27169.96187.7177.36
Operating Profit6.910.797.37.537.73-2.5712.599.8417.0411.99
OPM %3.86%0.55%4.27%4.54%4.7%-1.81%7.2%5.47%8.32%6.33%
Net Profit-1.73-5.5-1.74-1.8113.58-10.291.711.657.222.57
EPS ₹-1.13-3.58-1.13-1.188.84-6.71.111.074.71.67

AI Insights

Revenue Trend

TTM revenue at ₹749Cr, up 15.6% YoY. OPM at 7%.

Debt Position

Borrowings at ₹79Cr. Debt-to-equity ratio: 0.74x. Moderate leverage.

Capex Cycle

CWIP at ₹3Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.03% (+0.00pp change). FIIs: 1.41% (-0.04pp change). Promoters hold 55.33%.

Margin & Efficiency

ROCE declining from 9% (Mar 2014) to 2% (Mar 2025). Working capital days: 16.

Valuation

PE 12.6x with 1.88% ROCE. Price is 36% above book value of ₹79.4. Dividend yield: 0%.

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