Bhadora Industries Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹212 Cr
- P/E
- 22.02
- ROE
- 18.77%
- PEG
- 0.08
- Price to sales
- 1.70
- Debt to equity
- 0.22
- 52W high / low
- ₹155 / ₹50.2
- EBITDA margin
- 13.04%
- Net profit margin
- 7.71%
- Promoter holding
- 65.59%
- Sales (last year)
- ₹125 Cr
Incorporated in April 1986, Bhadora Industries Limited manufactures industrial cables for electricity transmission and distribution.[1]
Guidance scorecard · Q4 FY26 call
What Bhadora Industries's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ4 FY26 call
20–40%- Bhadora Industries targets revenue of INR 200-225 crores for FY27, with growth driven by new plant operational from October 2026.
- Phase 1 expansion expected to generate 3.5x to 4x revenue compared to the existing unit.
- Utilization of around 15-20% of new facility capacity anticipated in FY27, contributing approximately INR 80 crores incremental revenue.
- Phase 2 expansion planned for mid-2027, with capex of INR 75-80 crores, expected to add INR 400-450 crores revenue.
- Phase 3 planned post-Phase 2, with INR 150 crores capex, enabling manufacturing up to 220kV cables.
- By 2030, full utilization of Phase 1 and 2 capacity expected, with Phase 3 underway.
2 more points from Bhadora Industries's call on revenue
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MarginsQ4 FY26 call
FlatSee what Bhadora Industries said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Bhadora Industries is undertaking a three-phase capacity expansion on a 15-acre land, significantly increasing manufacturing capabilities.
- Phase 1: Capex of INR 75-80 crores; new plant operational by October 2026, expected to generate INR 200-225 crores revenue in FY27 and 3.5x-4x existing unit's sales potential.
- Phase 2: Planned to start mid-2027 with a capex of INR 75-80 crores; focused on manufacturing cables up to 66kV; expected to add INR 400-450 crores revenue.
- Phase 3: Planned post-Phase 2 with a capex around INR 150 crores, manufacturing cables up to 220kV.
- Funding: Phase 1 partially funded by a sanctioned INR 40 crore term loan; subsequent phases expected to be primarily debt-funded, with potential equity raises based on circumstances.
2 more points from Bhadora Industries's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Bhadora Industries said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Current order book: Over INR 100 crores.
- The company is not taking orders requiring immediate delivery as existing plant is booked till October-November.
- Tender pipeline: Filled tenders worth close to INR 500 crores.
- Based on historical win rates of 8-10%, expected to secure INR 50-60 crores more orders in next 4-5 months.
2 more points from Bhadora Industries'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 Bhadora Industries
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Bhadora Industries
Quarterly Results
Quarter-by-quarter operating performance
Financials of Bhadora Industries
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| Sales + | 15 | 18 | 81 | 110 | 111 |
| Expenses + | 14 | 17 | 74 | 93 | 95 |
| Operating Profit | 1 | 1 | 7 | 17 | 16 |
| OPM % | 4% | 6% | 9% | 16% | 14% |
| Other Income + | 1 | 0 | 2 | 1 | 1 |
| Interest | 1 | 1 | 2 | 3 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | -0 | 0 | 7 | 14 | 13 |
| Tax % | 75% | 17% | 26% | 26% | |
| Net Profit + | -0 | 0 | 5 | 11 | 10 |
| EPS in Rs | -0.36 | 1.09 | 30.06 | 8.17 | 6.94 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
Financials of Bhadora Industries
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 13 | 19 |
| Reserves | 3 | 4 | 8 | 8 | 57 |
| Borrowings + | 11 | 10 | 9 | 20 | 10 |
| Other Liabilities + | 1 | 5 | 6 | 8 | 9 |
| Total Liabilities | 17 | 20 | 26 | 49 | 94 |
| Fixed Assets + | 2 | 2 | 2 | 9 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 1 |
| Investments | 1 | 0 | 0 | 0 | 0 |
| Other Assets + | 15 | 18 | 24 | 40 | 87 |
| Total Assets | 17 | 20 | 26 | 49 | 94 |
Financials of Bhadora Industries
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Cash from Operating Activity + | 1 | 1 | 3 | 2 |
| Cash from Investing Activity + | -1 | 1 | -0 | -7 |
| Cash from Financing Activity + | 0 | -2 | -2 | 7 |
| Net Cash Flow | 0 | -0 | 0 | 2 |
| Free Cash Flow | 1 | 1 | 2 | -5 |
| CFO/OP | 221% | 112% | 64% | 35% |
Financials of Bhadora Industries
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 60 | 91 | 55 | 72 |
| Inventory Days | 294 | 227 | 45 | 43 |
| Days Payable | 15 | 100 | 26 | 18 |
| Cash Conversion Cycle | 339 | 218 | 75 | 97 |
| Working Capital Days | 86 | 89 | 33 | 36 |
| ROCE % | 8% | 50% | 57% |
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What Bhadora Industries's management said in earlier quarters
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