Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Bharat Gears
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 + | 189.35 | 179.49 | 170.48 | 179.02 | 142.78 | 170.77 | 166.01 | 164.58 | 142.08 | 174.86 | 179.80 | 204.74 | 189.35 |
| Expenses + | 180.34 | 169.67 | 161.94 | 172.11 | 141.99 | 163.47 | 158.48 | 156.85 | 144.65 | 162.27 | 169.96 | 187.70 | 177.36 |
| Operating Profit | 9.01 | 9.82 | 8.54 | 6.91 | 0.79 | 7.30 | 7.53 | 7.73 | -2.57 | 12.59 | 9.84 | 17.04 | 11.99 |
| OPM % | 4.76% | 5.47% | 5.01% | 3.86% | 0.55% | 4.27% | 4.54% | 4.70% | -1.81% | 7.20% | 5.47% | 8.32% | 6.33% |
| Other Income + | 3.99 | 0.47 | 0.41 | 0.74 | 1.99 | 0.48 | 0.29 | 18.12 | 0.28 | 0.66 | 1.78 | 1.90 | 0.52 |
| Interest | 4.39 | 4.56 | 4.42 | 4.38 | 4.33 | 4.35 | 4.39 | 4.33 | 4.30 | 4.05 | 3.66 | 3.59 | 3.37 |
| Depreciation | 5.19 | 5.23 | 5.55 | 5.71 | 5.62 | 5.67 | 5.86 | 5.99 | 6.04 | 5.75 | 5.75 | 5.79 | 5.72 |
| Profit before tax | 3.42 | 0.50 | -1.02 | -2.44 | -7.17 | -2.24 | -2.43 | 15.53 | -12.63 | 3.45 | 2.21 | 9.56 | 3.42 |
| Tax % | 24.27% | -68.00% | -25.49% | -29.10% | -23.29% | -22.32% | -25.51% | 12.56% | -18.53% | 50.72% | 24.89% | 24.37% | 24.85% |
| Net Profit + | 2.59 | 0.84 | -0.76 | -1.73 | -5.50 | -1.74 | -1.81 | 13.58 | -10.29 | 1.71 | 1.65 | 7.22 | 2.57 |
| EPS in Rs | 1.69 | 0.55 | -0.49 | -1.13 | -3.58 | -1.13 | -1.18 | 8.84 | -6.70 | 1.11 | 1.07 | 4.70 | 1.67 |
Financials of Bharat Gears
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 + | 420 | 415 | 398 | 407 | 508 | 594 | 463 | 503 | 729 | 766 | 663 | 648 | 749 |
| Expenses + | 394 | 393 | 367 | 379 | 465 | 536 | 444 | 467 | 664 | 720 | 639 | 622 | 697 |
| Operating Profit | 26 | 22 | 31 | 28 | 43 | 59 | 19 | 36 | 66 | 46 | 24 | 25 | 51 |
| OPM % | 6% | 5% | 8% | 7% | 8% | 10% | 4% | 7% | 9% | 6% | 4% | 4% | 7% |
| Other Income + | 3 | 2 | 2 | 1 | 2 | 4 | 5 | 1 | 7 | 9 | 3 | 19 | 5 |
| Interest | 14 | 16 | 16 | 15 | 17 | 22 | 22 | 23 | 18 | 17 | 17 | 17 | 15 |
| Depreciation | 14 | 14 | 16 | 17 | 18 | 22 | 27 | 24 | 20 | 20 | 23 | 24 | 23 |
| Profit before tax | 1 | -6 | 1 | -2 | 9 | 19 | -25 | -10 | 34 | 18 | -13 | 4 | 19 |
| Tax % | 0% | -35% | 54% | -36% | 32% | 36% | -24% | -20% | 24% | 23% | -24% | 19% | |
| Net Profit + | 1 | -4 | 0 | -1 | 6 | 13 | -19 | -8 | 26 | 13 | -10 | 3 | 13 |
| EPS in Rs | 0.41 | -2.86 | 0.16 | -0.99 | 4.12 | 8.19 | -12.19 | -5.00 | 16.78 | 8.78 | -6.34 | 2.08 | 8.55 |
| Dividend Payout % | 130% | 0% | 0% | 0% | 0% | 6% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Bharat Gears
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 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 10 | 15 | 15 | 15 | 15 |
| Reserves | 68 | 63 | 63 | 59 | 70 | 80 | 70 | 65 | 98 | 105 | 95 | 98 | 107 |
| Borrowings + | 100 | 100 | 98 | 112 | 134 | 162 | 152 | 118 | 107 | 116 | 113 | 80 | 79 |
| Other Liabilities + | 115 | 125 | 99 | 112 | 154 | 170 | 143 | 192 | 189 | 171 | 162 | 172 | 205 |
| Total Liabilities | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 407 | 385 | 364 | 405 |
| Fixed Assets + | 135 | 129 | 115 | 103 | 113 | 145 | 150 | 134 | 118 | 132 | 133 | 128 | 122 |
| CWIP | 4 | 2 | 3 | 2 | 2 | 10 | 2 | 1 | 1 | 2 | 5 | 2 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Other Assets + | 152 | 165 | 150 | 186 | 250 | 264 | 222 | 249 | 285 | 272 | 247 | 232 | 278 |
| Total Assets | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 407 | 385 | 364 | 405 |
Financials of Bharat Gears
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 + | 27 | 20 | 23 | 20 | 6 | 50 | 54 | 59 | 30 | 42 | 47 | 49 |
| Cash from Investing Activity + | -38 | -5 | -7 | -5 | -21 | -56 | -29 | -2 | -5 | -26 | -13 | 2 |
| Cash from Financing Activity + | 11 | -15 | -16 | -18 | 27 | -5 | -20 | -57 | -32 | -3 | -37 | -51 |
| Net Cash Flow | -1 | -0 | 0 | -3 | 12 | -11 | 4 | 0 | -7 | 13 | -4 | 0 |
| Free Cash Flow | -14 | 15 | 16 | 15 | -15 | -5 | 23 | 55 | 26 | 16 | 33 | 35 |
| CFO/OP | 113% | 93% | 77% | 66% | 16% | 100% | 287% | 166% | 53% | 102% | 203% | 189% |
Financials of Bharat Gears
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 | 60 | 63 | 58 | 83 | 92 | 71 | 81 | 77 | 72 | 58 | 64 | 55 |
| Inventory Days | 107 | 120 | 112 | 123 | 119 | 125 | 120 | 133 | 89 | 89 | 84 | 99 |
| Days Payable | 157 | 178 | 148 | 175 | 181 | 155 | 167 | 229 | 148 | 118 | 124 | 135 |
| Cash Conversion Cycle | 9 | 6 | 22 | 31 | 30 | 41 | 33 | -20 | 13 | 30 | 24 | 19 |
| Working Capital Days | 2 | -8 | 4 | 1 | 32 | 11 | 12 | 10 | 28 | 34 | 21 | 16 |
| ROCE % | 9% | 6% | 10% | 7% | 13% | 18% | -1% | 6% | 24% | 15% | 2% | 2% |
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