Bhagwati Autocast Share Price & Earnings Call Analysis
- Market cap
- ₹145 Cr
- P/E
- 10.03
- ROE
- 24.72%
- PEG
- 0.53
- Price to sales
- 0.80
- Debt to equity
- 0.15
- 52W high / low
- ₹769 / ₹459
- Sales growth (5Y)
- 10.41%
- EBITDA margin
- 13.69%
- Net profit margin
- 7.60%
- Promoter holding
- 74.06%
- Sales (last year)
- ₹183 Cr
Bhagwati Autocast Ltd (BAL) manufactures specialised grey /cast iron (CI) and spheroidal graphite/ductile iron (SGI) castings, primarily for Indian tractor and automobile OEMs, from its Rajoda plant near Bavla, Ahmedabad; In the FY26, its capacity was 22,800 MTPA and the company serves only the domestic market.[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Auto Components
on management's own guidance
- Strong growth2
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Peers
Auto Components companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹2,874 Cr | 45.4 | |
| 2 | 40%+ | Flat | ₹2,116 Cr | 55.2 | |
| 3 | 40%+ | Flat | ₹370 Cr | 15.1 | |
| 4 | 20–40% | Up 2%+ | ₹25,664 Cr | 73.6 | |
| 5 | 20–40% | Up 0–2% | ₹21,742 Cr | 33.9 | |
| 6 | 20–40% | Up 0–2% | ₹11,707 Cr | 41.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Auto Components rankingFinancials of Bhagwati Autocast Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Bhagwati Autocast Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 29.44 | 36.27 | 38.02 | 39.59 | 24.43 | 32.20 | 34.68 | 35.02 | 31.67 | 38.58 | 40.71 | 42.70 | 42.90 |
| Expenses + | 26.84 | 32.16 | 34.29 | 35.35 | 24.13 | 27.55 | 31.22 | 33.70 | 28.82 | 33.84 | 35.58 | 36.85 | 36.05 |
| Operating Profit | 2.60 | 4.11 | 3.73 | 4.24 | 0.30 | 4.65 | 3.46 | 1.32 | 2.85 | 4.74 | 5.13 | 5.85 | 6.85 |
| OPM % | 8.83% | 11.33% | 9.81% | 10.71% | 1.23% | 14.44% | 9.98% | 3.77% | 9.00% | 12.29% | 12.60% | 13.70% | 15.97% |
| Other Income + | 0.02 | 0.04 | 0.01 | 0.03 | 0.03 | 0.20 | 0.00 | 0.26 | 0.16 | 0.16 | 0.00 | 0.01 | 0.03 |
| Interest | 0.28 | 0.30 | 0.28 | 0.24 | 0.26 | 0.25 | 0.24 | 0.37 | 0.31 | 0.23 | 0.29 | 0.21 | 0.22 |
| Depreciation | 0.69 | 0.69 | 0.62 | 0.63 | 0.63 | 0.63 | 0.57 | 1.17 | 0.65 | 0.80 | 0.84 | 0.80 | 0.93 |
| Profit before tax | 1.65 | 3.16 | 2.84 | 3.40 | -0.56 | 3.97 | 2.65 | 0.04 | 2.05 | 3.87 | 4.00 | 4.85 | 5.73 |
| Tax % | 28.48% | 29.43% | 27.82% | 76.18% | -101.79% | -2.77% | 6.42% | 1,300.00% | 31.22% | 29.46% | 31.25% | 25.57% | 38.05% |
| Net Profit + | 1.19 | 2.23 | 2.05 | 0.80 | 0.01 | 4.07 | 2.49 | -0.48 | 1.41 | 2.74 | 2.74 | 3.61 | 3.54 |
| EPS in Rs | 4.13 | 7.74 | 7.12 | 2.78 | 0.03 | 14.13 | 8.64 | -1.67 | 4.89 | 9.51 | 9.51 | 12.53 | 12.29 |
Financials of Bhagwati Autocast Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 82 | 64 | 64 | 70 | 90 | 120 | 100 | 104 | 112 | 154 | 134 | 140 | 165 |
| Expenses + | 72 | 64 | 60 | 65 | 85 | 112 | 94 | 99 | 111 | 140 | 121 | 128 | 142 |
| Operating Profit | 10 | 0 | 4 | 5 | 4 | 8 | 6 | 5 | 2 | 15 | 13 | 12 | 23 |
| OPM % | 12% | 0% | 7% | 7% | 5% | 7% | 6% | 5% | 1% | 10% | 10% | 9% | 14% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 1 | 0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Profit before tax | 7 | -4 | 1 | 2 | 1 | 5 | 3 | 2 | -1 | 11 | 10 | 9 | 18 |
| Tax % | 31% | -27% | 34% | 43% | 24% | 25% | 29% | 28% | -28% | 29% | 28% | 29% | |
| Net Profit + | 5 | -3 | 1 | 1 | 1 | 4 | 2 | 2 | -1 | 8 | 7 | 6 | 13 |
| EPS in Rs | 16.14 | -8.96 | 2.71 | 4.44 | 3.85 | 12.81 | 7.50 | 5.97 | -3.33 | 26.80 | 24.06 | 21.38 | 43.84 |
| Dividend Payout % | 6% | -6% | 26% | 18% | 21% | 8% | 13% | 17% | -30% | 7% | 8% | 12% |
Financials of Bhagwati Autocast Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 19 | 16 | 16 | 18 | 19 | 22 | 24 | 25 | 24 | 32 | 38 | 44 | 49 |
| Borrowings + | 8 | 7 | 5 | 9 | 8 | 9 | 6 | 5 | 18 | 11 | 8 | 11 | 11 |
| Other Liabilities + | 26 | 20 | 19 | 13 | 23 | 19 | 20 | 23 | 19 | 23 | 19 | 26 | 25 |
| Total Liabilities | 56 | 45 | 43 | 43 | 52 | 53 | 53 | 56 | 64 | 68 | 69 | 84 | 89 |
| Fixed Assets + | 20 | 18 | 16 | 15 | 14 | 15 | 16 | 15 | 34 | 31 | 31 | 43 | 42 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 1 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 36 | 27 | 27 | 28 | 38 | 37 | 37 | 40 | 30 | 37 | 36 | 41 | 47 |
| Total Assets | 56 | 45 | 43 | 43 | 52 | 53 | 53 | 56 | 64 | 68 | 69 | 84 | 89 |
Financials of Bhagwati Autocast Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2 | 3 | 2 | -1 | 4 | 4 | 6 | 5 | 7 | 12 | 8 | 10 |
| Cash from Investing Activity + | -4 | -1 | -1 | -1 | -2 | -4 | -2 | -2 | -20 | -0 | -3 | -14 |
| Cash from Financing Activity + | 2 | -2 | -1 | 2 | -2 | -0 | -4 | -2 | 12 | -9 | -4 | 1 |
| Net Cash Flow | -0 | -0 | -0 | 0 | 0 | -0 | 0 | -0 | -0 | 3 | 0 | -3 |
| Free Cash Flow | -2 | 2 | 1 | -2 | 2 | -0 | 4 | 2 | -12 | 12 | 4 | -4 |
| CFO/OP | -3% | 3,084% | 41% | -4% | 101% | 61% | 109% | 107% | 501% | 90% | 70% | 94% |
Financials of Bhagwati Autocast Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 96 | 104 | 110 | 109 | 120 | 90 | 105 | 115 | 69 | 62 | 64 | 77 |
| Inventory Days | 58 | 60 | 56 | 72 | 60 | 37 | 52 | 43 | 39 | 28 | 36 | 38 |
| Days Payable | 146 | 159 | 165 | 132 | 179 | 98 | 135 | 141 | 97 | 80 | 77 | 107 |
| Cash Conversion Cycle | 8 | 5 | 2 | 48 | 1 | 29 | 23 | 17 | 10 | 10 | 23 | 7 |
| Working Capital Days | 23 | 19 | 32 | 38 | 29 | 29 | 44 | 46 | 15 | 25 | 35 | 35 |
| ROCE % | 29% | -10% | 7% | 11% | 8% | 19% | 12% | 9% | -2% | 27% | 23% | 18% |
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