Bharat Seats Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,259 Cr
- P/E
- 23.96
- ROE
- 20.43%
- PEG
- 0.92
- Price to sales
- 0.53
- Debt to equity
- 0.49
- 52W high / low
- ₹255 / ₹135
- Sales growth (5Y)
- 28.93%
- EBITDA margin
- 4.88%
- Net profit margin
- 2.22%
- Promoter holding
- 74.66%
- Sales (last year)
- ₹2,352 Cr
Incorporated in 1986, Bharat Seats Ltd manufactures complete seating system and interior component for the automotive and surface transport[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Auto Components
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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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 Bharat Seats
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Bharat Seats
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 74.59% | 74.59% | 74.59% | 74.59% | 74.59% | 74.66% | 74.66% | 74.66% | 74.66% | 74.66% | 74.66% | 74.66% |
| FIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.27% | 0.06% | 0.15% | 0.15% | 0.06% |
| DIIs + | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.12% | 0.21% | 0.21% | 0.22% | 0.22% |
| Public + | 25.29% | 25.30% | 25.30% | 25.31% | 25.30% | 25.22% | 25.20% | 24.95% | 25.05% | 24.97% | 24.96% | 25.05% |
| No. of Shareholders | 13,410 | 14,894 | 15,121 | 16,677 | 27,016 | 26,438 | 25,965 | 26,898 | 28,466 | 29,712 | 30,200 | 31,878 |
Financials of Bharat Seats
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 286 | 250 | 278 | 299 | 291 | 306 | 393 | 427 | 459 | 491 | 574 | 578 | 709 |
| Expenses + | 269 | 235 | 261 | 282 | 273 | 288 | 370 | 405 | 436 | 466 | 545 | 550 | 677 |
| Operating Profit | 17 | 15 | 17 | 17 | 18 | 19 | 23 | 22 | 23 | 25 | 30 | 28 | 32 |
| OPM % | 6% | 6% | 6% | 6% | 6% | 6% | 6% | 5% | 4.9% | 5% | 5% | 4.9% | 4.5% |
| Other Income + | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | -0 | 1 | 1 | 1 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 8 | 9 | 9 | 9 | 9 | 10 |
| Profit before tax | 9 | 8 | 11 | 9 | 10 | 10 | 15 | 12 | 13 | 13 | 19 | 18 | 21 |
| Tax % | 25% | 27% | 23% | 26% | 26% | 26% | 25% | 26% | 26% | 26% | 28% | 25% | 26% |
| Net Profit + | 7 | 6 | 8 | 7 | 7 | 8 | 11 | 9 | 10 | 10 | 13 | 13 | 15 |
| EPS in Rs | 1.08 | 0.88 | 1.29 | 1.05 | 1.13 | 1.21 | 1.81 | 1.46 | 1.58 | 1.58 | 2.11 | 2.10 | 2.42 |
Financials of Bharat Seats
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 693 | 700 | 840 | 970 | 904 | 589 | 548 | 818 | 1,051 | 1,067 | 1,289 | 1,951 | 2,352 |
| Expenses + | 661 | 670 | 803 | 905 | 853 | 553 | 521 | 785 | 1,005 | 1,006 | 1,213 | 1,852 | 2,237 |
| Operating Profit | 32 | 30 | 37 | 65 | 50 | 36 | 27 | 32 | 46 | 61 | 75 | 99 | 115 |
| OPM % | 4.7% | 4.3% | 4.4% | 7% | 6% | 6% | 4.9% | 3.9% | 4.4% | 6% | 6% | 5% | 4.9% |
| Other Income + | 2 | 2 | 1 | 1 | 5 | 2 | 2 | 5 | 4 | 5 | 4 | 4 | 2 |
| Interest | 6 | 5 | 4 | 3 | 3 | 3 | 4 | 4 | 4 | 8 | 9 | 10 | 9 |
| Depreciation | 16 | 17 | 17 | 19 | 21 | 22 | 18 | 18 | 17 | 24 | 26 | 35 | 37 |
| Profit before tax | 11 | 10 | 17 | 44 | 31 | 12 | 7 | 16 | 30 | 34 | 44 | 58 | 70 |
| Tax % | 29% | 27% | 28% | 35% | 31% | -2% | 28% | 25% | 27% | 25% | 26% | 27% | |
| Net Profit + | 8 | 7 | 12 | 28 | 21 | 13 | 5 | 12 | 22 | 25 | 33 | 42 | 52 |
| EPS in Rs | 1.29 | 1.15 | 1.94 | 4.49 | 3.41 | 1.99 | 0.77 | 1.90 | 3.43 | 3.99 | 5.21 | 6.72 | 8.21 |
| Dividend Payout % | 35% | 39% | 23% | 11% | 15% | 13% | 33% | 21% | 20% | 20% | 21% | 22% |
Financials of Bharat Seats
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 13 | 13 | 13 |
| Reserves | 40 | 47 | 56 | 80 | 98 | 107 | 110 | 121 | 140 | 161 | 182 | 217 | 236 |
| Borrowings + | 91 | 75 | 63 | 25 | 29 | 40 | 35 | 39 | 66 | 160 | 152 | 110 | 122 |
| Other Liabilities + | 127 | 122 | 140 | 172 | 140 | 89 | 140 | 171 | 146 | 179 | 301 | 397 | 426 |
| Total Liabilities | 265 | 250 | 265 | 285 | 273 | 242 | 291 | 337 | 358 | 505 | 648 | 737 | 797 |
| Fixed Assets + | 150 | 144 | 146 | 136 | 152 | 150 | 126 | 147 | 199 | 276 | 283 | 356 | 352 |
| CWIP | 3 | 1 | 0 | 13 | 0 | 22 | 30 | 8 | 12 | 49 | 90 | 12 | 22 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 111 | 104 | 119 | 135 | 121 | 69 | 135 | 182 | 147 | 181 | 275 | 369 | 423 |
| Total Assets | 265 | 250 | 265 | 285 | 273 | 242 | 291 | 337 | 358 | 505 | 648 | 737 | 797 |
Financials of Bharat Seats
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 36 | 34 | 38 | 69 | 35 | 28 | 19 | 16 | 43 | 57 | 96 | 107 |
| Cash from Investing Activity + | -13 | -6 | -17 | -23 | -24 | -34 | -12 | -15 | -59 | -73 | -68 | -47 |
| Cash from Financing Activity + | -23 | -28 | -22 | -44 | -4 | -3 | -7 | -2 | 17 | 16 | -25 | -47 |
| Net Cash Flow | 0 | 0 | 0 | 2 | 7 | -9 | -0 | -1 | 0 | -0 | 3 | 12 |
| Free Cash Flow | 23 | 28 | 22 | 46 | 10 | -6 | 7 | 0 | -17 | -16 | 28 | 59 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 116% | 122% | 111% | 127% | 89% | 93% | 80% | 56% | 127% | 113% | 137% | 122% |
Financials of Bharat Seats
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 40 | 43 | 41 | 35 | 31 | 22 | 55 | 49 | 34 | 35 | 56 | 49 |
| Inventory Days | 7 | 9 | 8 | 12 | 11 | 16 | 24 | 28 | 12 | 16 | 19 | 13 |
| Days Payable | 56 | 60 | 61 | 66 | 59 | 57 | 99 | 68 | 48 | 59 | 87 | 69 |
| Cash Conversion Cycle | -8 | -8 | -13 | -19 | -17 | -19 | -20 | 9 | -3 | -7 | -13 | -7 |
| Working Capital Days | -35 | -34 | -26 | -13 | -12 | -18 | -13 | 2 | -13 | -17 | -20 | -12 |
| ROCE % | 13% | 12% | 17% | 40% | 28% | 11% | 7% | 12% | 18% | 15% | 16% | 20% |
Momentum score · price trend
28 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −1.3% | 59% |
| Last 6 months | +3.9% | 61% |
| Last 3 months | −10.9% | 42% |
The price is 21.8% below its all-time high of ₹254.62 (13 Jul 2026). Stocks more than 20% below their peak have their score halved, so 56 became 28.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bharat Seats: 0.4 × 59 + 0.4 × 61 + 0.2 × 42 = 56, halved to 28 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Bharat Seats's management said in earlier quarters
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