Behari Lal Engineering Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,874 Cr
- P/E
- 27.37
- ROE
- 23.62%
- PEG
- 0.88
- Price to sales
- 3.52
- Debt to equity
- 0.06
- 52W high / low
- ₹548 / ₹415
- EBITDA margin
- 16.76%
- Net profit margin
- 12.14%
- Promoter holding
- 70.84%
- Sales (last year)
- ₹533 Cr
Incorporated in 1995, Behari Lal Engineering Ltd. is an integrated iron and steel manufacturing company specialising in customised engineering solutions.[1]
Guidance scorecard · Q1 FY27 call
What Behari Lal Engineering's management guided
and where it ranks in Industrial Products
RevenueQ1 FY27 call
10–20%- Continued growth driven by high capacity utilization (~90%), with new Unit 3 adding melting capacity by FY28 Q1.
- Focus on shifting product mix towards high-value products, aiming to increase from ~60% to ~70%, which drives higher revenue and profitability.
- Expansion in high-value product lines: ICDP rolls, HSS rolls (mostly imported before), forging capabilities, and defense sector products.
- Defense sector revenues expected to start contributing from FY28 onwards after prototype approval cycles.
- Revenue per ton is increasing due to richer product mix; operating EBITDA margins expected to remain in 20-25% range.
- Order book skewed towards high-value products supports next two quarters' growth.
- Growth supported by import substitution and Make in India initiatives.
2 more points from Behari Lal Engineering's call on revenue
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MarginsQ1 FY27 call
FlatSee what Behari Lal Engineering said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Targeting INR 80 crores capex for FY27; INR 5 crores spent in Q1, INR 75 crores planned for next three quarters.
- Multiple capex streams: IPO proceeds funding machining and melting upgrades, Unit 3 expansion funded internally, rooftop solar from internal accruals.
- Unit 3 (foundry) under construction; expected production start in Q1 FY28; will produce ICDP rolls, HSS rolls, and engineering castings.
- Investments in vertical and horizontal centrifugal casting for ICDP rolls, a unique product currently largely imported.
- Capex focused on increasing high-value product share (current 60%, target 70%).
- Additional investments: forging line to produce valve, die, and tool steel via forging for higher margin; solar power project to reduce energy costs.
- NABL-accredited lab coming up to shorten customer qualification.
2 more points from Behari Lal Engineering's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Behari Lal Engineering said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- As of June 30th, the order book stood at INR 162 crores.
- The order book corresponds to 13,138 tons, equivalent to more than one quarter of revenue.
- The order book is skewed towards high-value products.
2 more points from Behari Lal Engineering's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹448 Cr | 17.9 | |
| 2 | 40%+ | Up 2%+ | ₹413 Cr | 12.0 | |
| 3 | 40%+ | Up 2%+ | ₹324 Cr | 22.7 | |
| 4 | 40%+ | Up 0–2% | ₹1,496 Cr | 32.8 | |
| 5 | 40%+ | Up 0–2% | ₹1,079 Cr | 12.7 | |
| 6 | 40%+ | Flat | ₹827 Cr | 21.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Behari Lal Engineering
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Behari Lal Engineering
Shareholding breakup across reporting periods.
| Aug 2026 | |
|---|---|
| Promoters + | 70.84% |
| FIIs + | 1.81% |
| DIIs + | 10.69% |
| Public + | 16.65% |
| No. of Shareholders | 73,551 |
Financials of Behari Lal Engineering
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|
| Sales + | 128 | 131 | 152 |
| Expenses + | 106 | 108 | 124 |
| Operating Profit | 23 | 23 | 28 |
| OPM % | 18% | 18% | 18% |
| Other Income + | 1 | 7 | 2 |
| Interest | 0 | 0 | 0 |
| Depreciation | 3 | 4 | 4 |
| Profit before tax | 21 | 26 | 26 |
| Tax % | 26% | 19% | 25% |
| Net Profit + | 15 | 21 | 19 |
| EPS in Rs | 3.95 | 5.48 | 4.92 |
Financials of Behari Lal Engineering
Profit & Loss
Annual income statement trend
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales + | 462 | 445 | 507 | 533 |
| Expenses + | 417 | 388 | 434 | 443 |
| Operating Profit | 45 | 57 | 73 | 89 |
| OPM % | 10% | 13% | 14% | 17% |
| Other Income + | 5 | 4 | 8 | 12 |
| Interest | 4 | 2 | 1 | 2 |
| Depreciation | 8 | 9 | 11 | 13 |
| Profit before tax | 38 | 50 | 69 | 87 |
| Tax % | 25% | 28% | 24% | 25% |
| Net Profit + | 29 | 36 | 53 | 65 |
| EPS in Rs | 72.00 | 73.66 | 67.82 | 16.56 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
Financials of Behari Lal Engineering
Balance Sheet
Capital structure and asset base
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 4 | 5 | 8 | 39 |
| Reserves | 116 | 189 | 234 | 267 |
| Borrowings + | 64 | 41 | 8 | 18 |
| Other Liabilities + | 20 | 27 | 47 | 44 |
| Total Liabilities | 203 | 262 | 296 | 368 |
| Fixed Assets + | 60 | 67 | 83 | 96 |
| CWIP | 5 | 4 | 4 | 4 |
| Investments | 3 | 3 | 0 | 0 |
| Other Assets + | 135 | 188 | 209 | 268 |
| Total Assets | 203 | 262 | 296 | 368 |
Financials of Behari Lal Engineering
Cash Flows
Operating, investing and financing cash movement
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Cash from Operating Activity + | 13 | 37 | 62 | 28 |
| Cash from Investing Activity + | -21 | -52 | -20 | -38 |
| Cash from Financing Activity + | 9 | 14 | -40 | 9 |
| Net Cash Flow | 1 | -1 | 2 | -1 |
| Free Cash Flow | -8 | 22 | 36 | 1 |
| CFO/OP | 50% | 84% | 111% | 55% |
Financials of Behari Lal Engineering
Ratios
Working capital efficiency and return ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 52 | 67 | 56 | 66 |
| Inventory Days | 67 | 80 | 103 | 136 |
| Days Payable | 13 | 14 | 31 | 26 |
| Cash Conversion Cycle | 106 | 133 | 128 | 175 |
| Working Capital Days | 61 | 72 | 81 | 103 |
| ROCE % | 25% | 29% | 31% |
Continue your research
What Behari Lal Engineering's management said in earlier quarters
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