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Last Updated: April 2, 2026, 2:42 am
Author: Getaka|Social: XLinkedIn

Bharat Gears Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹81.04Overvalued by 10.75%vs CMP ₹90.80

P/E (10.6) × ROE (11.8%) × BV (₹79.40) × DY (2.00%)

₹98.97Fairly Valued by 9.00%vs CMP ₹90.80
MoS: +8.3% (Thin)Confidence: 37/100 (Low)Models: 3 Under, 2 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹70.8226%Over (-22%)
Graham NumberEarnings₹123.5916%Under (+36.1%)
DCFCash Flow₹32.1416%Over (-64.6%)
Net Asset ValueAssets₹79.698%Over (-12.2%)
EV/EBITDAEnterprise₹204.4611%Under (+125.2%)
Earnings YieldEarnings₹85.508%Fair (-5.8%)
ROCE CapitalReturns₹82.508%Fair (-9.1%)
Revenue MultipleRevenue₹211.656%Under (+133.1%)
Consensus (8 models)₹98.97100%Fairly Valued
Key Drivers: Wide model spread (₹32–₹212) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -12.6%

*Investments are subject to market risks

Investment Snapshot

50
Bharat Gears Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 1.9% WeakROE 11.8% AverageD/E 1.21 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money60/100 · Moderate
FII holding up 0.13% (6mo) Slight increasePromoter holding at 55.3% Stable
Earnings Quality50/100 · Moderate
OPM contracting (8% → 4%) DecliningWorking capital: 16 days (improving) Efficient
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +9% YoY GrowingProfit (4Q): -94% YoY DecliningOPM: 8.3% (up 3.6% YoY) Margin expansion
Industry Rank55/100 · Moderate
P/E 10.6 vs industry 24.3 Cheaper than peersROCE 1.9% vs industry 7.6% Below peersROE 11.8% vs industry 8.4% Above peers3Y sales CAGR: -4% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:42 am

Market Cap 139 Cr.
Current Price 90.8
Intrinsic Value₹98.97
High / Low 154/65.2
Stock P/E10.6
Book Value 79.4
Dividend Yield0.00 %
ROCE1.88 %
ROE11.8 %
Face Value 10.0
PEG Ratio-0.84

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bharat Gears Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bharat Gears Ltd 139 Cr. 90.8 154/65.210.6 79.40.00 %1.88 %11.8 % 10.0
Him Teknoforge Ltd 193 Cr. 187 272/15214.9 2380.27 %9.33 %4.93 % 2.00
The Hi-Tech Gears Ltd 1,068 Cr. 568 897/52147.3 2650.88 %11.5 %8.40 % 10.0
Industry Average466.67 Cr281.9324.27194.130.38%7.57%8.38%7.33

All Competitor Stocks of Bharat Gears Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 213.55189.35179.49170.48179.02142.78170.77166.01164.58142.08174.86179.80204.74
Expenses 198.62180.34169.67161.94172.11141.99163.47158.48156.85144.65162.27169.96187.70
Operating Profit 14.939.019.828.546.910.797.307.537.73-2.5712.599.8417.04
OPM % 6.99%4.76%5.47%5.01%3.86%0.55%4.27%4.54%4.70%-1.81%7.20%5.47%8.32%
Other Income 1.923.990.470.410.741.990.480.2918.120.280.661.781.90
Interest 3.974.394.564.424.384.334.354.394.334.304.053.663.59
Depreciation 4.965.195.235.555.715.625.675.865.996.045.755.755.79
Profit before tax 7.923.420.50-1.02-2.44-7.17-2.24-2.4315.53-12.633.452.219.56
Tax % 27.27%24.27%-68.00%-25.49%-29.10%-23.29%-22.32%-25.51%12.56%-18.53%50.72%24.89%24.37%
Net Profit 5.762.590.84-0.76-1.73-5.50-1.74-1.8113.58-10.291.711.657.22
EPS in Rs 3.751.690.55-0.49-1.13-3.58-1.13-1.188.84-6.701.111.074.70

Last Updated: January 2, 2026, 6:32 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 24, 2026, 1:30 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 420415398407508594463503729766663648749
Expenses 394393367379465536444467664720639622697
Operating Profit 26223128435919366646242551
OPM % 6%5%8%7%8%10%4%7%9%6%4%4%7%
Other Income 32212451793195
Interest 14161615172222231817171715
Depreciation 14141617182227242020232423
Profit before tax 1-61-2919-25-103418-13419
Tax % -0%-35%54%-36%32%36%-24%-20%24%23%-24%19%
Net Profit 1-40-1613-19-82613-10313
EPS in Rs 0.41-2.860.16-0.994.128.19-12.19-5.0016.788.78-6.342.088.55
Dividend Payout % 130%-0%-0%-0%-0%6%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-500.00%100.00%700.00%116.67%-246.15%57.89%425.00%-50.00%-176.92%130.00%
Change in YoY Net Profit Growth (%)0.00%600.00%600.00%-583.33%-362.82%304.05%367.11%-475.00%-126.92%306.92%

Bharat Gears Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:7%
3 Years:-4%
TTM:0%
Compounded Profit Growth
10 Years:%
5 Years:5%
3 Years:%
TTM:24%
Stock Price CAGR
10 Years:6%
5 Years:22%
3 Years:-11%
1 Year:-17%
Return on Equity
10 Years:0%
5 Years:1%
3 Years:-3%
Last Year:-12%

Last Updated: September 5, 2025, 12:55 am

Balance Sheet

Last Updated: December 10, 2025, 2:28 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 888888991015151515
Reserves 6863635970807065981059598107
Borrowings 100100981121341621521181071161138079
Other Liabilities 11512599112154170143192189171162172205
Total Liabilities 291295268291366420374384404407385364405
Fixed Assets 135129115103113145150134118132133128122
CWIP 42322102112523
Investments 0000000001111
Other Assets 152165150186250264222249285272247232278
Total Assets 291295268291366420374384404407385364405

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 27202320650545930424749
Cash from Investing Activity + -38-5-7-5-21-56-29-2-5-26-132
Cash from Financing Activity + 11-15-16-1827-5-20-57-32-3-37-51
Net Cash Flow -1-00-312-1140-713-40
Free Cash Flow -14151615-15-5235526163335
CFO/OP 113%93%77%66%16%100%287%166%53%102%203%189%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-74.00-78.00-67.00-84.00-91.00-103.00-133.00-82.00-41.00-70.00-89.00-55.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 606358839271817772586455
Inventory Days 10712011212311912512013389898499
Days Payable 157178148175181155167229148118124135
Cash Conversion Cycle 962231304133-2013302419
Working Capital Days 2-8413211121028342116
ROCE %9%6%10%7%13%18%-1%6%24%15%2%2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.33%
FIIs 1.27%1.45%1.23%1.23%1.31%1.27%1.25%1.23%1.26%1.23%1.23%1.39%
DIIs 0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public 43.37%43.19%43.42%43.42%43.34%43.37%43.39%43.42%43.39%43.41%43.42%43.26%
No. of Shareholders 25,91925,14024,97624,49224,81325,08324,95824,88424,76324,59725,97624,160

Shareholding Pattern Chart

No. of Shareholders

Bharat Gears Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.08-6.348.7826.43-8.27
Diluted EPS (Rs.) 2.08-6.348.7826.43-8.27
Cash EPS (Rs.) 17.478.3421.8545.1617.67
Book Value[Excl.RevalReserv]/Share (Rs.) 73.5272.0378.51105.6979.32
Book Value[Incl.RevalReserv]/Share (Rs.) 73.5272.0378.51105.6979.32
Revenue From Operations / Share (Rs.) 421.70431.81499.10712.57540.53
PBDIT / Share (Rs.) 18.1117.6935.6567.6939.94
PBIT / Share (Rs.) 2.723.0022.5947.7613.99
PBT / Share (Rs.) 2.56-8.3811.4633.28-10.37
Net Profit / Share (Rs.) 2.08-6.348.7825.24-8.27
PBDIT Margin (%) 4.294.097.149.497.38
PBIT Margin (%) 0.640.694.526.702.58
PBT Margin (%) 0.60-1.942.294.67-1.91
Net Profit Margin (%) 0.49-1.461.753.54-1.53
Return on Networth / Equity (%) 2.82-8.8011.1823.88-10.43
Return on Capital Employeed (%) 2.202.2315.0924.427.54
Return On Assets (%) 0.87-2.523.316.40-2.00
Long Term Debt / Equity (X) 0.290.460.580.560.90
Total Debt / Equity (X) 0.540.840.850.931.21
Asset Turnover Ratio (%) 1.731.671.891.851.33
Current Ratio (X) 1.221.271.441.331.09
Quick Ratio (X) 0.680.800.870.880.66
Inventory Turnover Ratio (X) 7.393.764.374.153.04
Interest Coverage Ratio (X) 1.631.553.203.761.64
Interest Coverage Ratio (Post Tax) (X) 0.200.441.792.210.66
Enterprise Value (Cr.) 152.77239.83254.57238.57151.72
EV / Net Operating Revenue (X) 0.230.360.330.320.30
EV / EBITDA (X) 5.498.834.653.444.08
MarketCap / Net Operating Revenue (X) 0.150.230.200.200.13
Price / BV (X) 0.891.411.311.360.92
Price / Net Operating Revenue (X) 0.150.230.200.200.13
EarningsYield 0.03-0.060.080.17-0.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bharat Gears Ltd. is a Public Limited Listed company incorporated on 23/12/1971 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L29130HR1971PLC034365 and registration number is 034365. Currently company belongs to the Industry of Auto Ancl - Gears & Drive. Company's Total Operating Revenue is Rs. 647.53 Cr. and Equity Capital is Rs. 15.36 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Gears & Drive20 K.M. Mathura Road, P.O. Box 328, Faridabad Haryana 121003Contact not found
Management
NamePosition Held
Mr. Surinder P KanwarChairman & Managing Director
Mr. Sameer KanwarJoint Managing Director
Mr. Nagar Venkatraman SrinivasanNon Executive Director
Mr. Wolfgang Rudolf SchilhaInd. Non-Executive Director
Mr. Rakesh ChopraInd. Non-Executive Director
Mr. Virendra Kumar PargalInd. Non-Executive Director
Mr. Raman NandaInd. Non-Executive Director
Ms. Kavita JhaInd. Non-Executive Director
Mr. Bharat Dev Singh KanwarInd. Non-Executive Director
Mr. Satya Prakash MangalInd. Non-Executive Director

FAQ

What is the intrinsic value of Bharat Gears Ltd and is it undervalued?

As of 10 April 2026, Bharat Gears Ltd's intrinsic value is ₹98.97, which is 9.00% higher than the current market price of ₹90.80, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.8 %), book value (₹79.4), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bharat Gears Ltd?

Bharat Gears Ltd is trading at ₹90.80 as of 10 April 2026, with a FY2026-2027 high of ₹154 and low of ₹65.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹139 Cr..

How does Bharat Gears Ltd's P/E ratio compare to its industry?

Bharat Gears Ltd has a P/E ratio of 10.6, which is below the industry average of 24.27. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Bharat Gears Ltd financially healthy?

Key indicators for Bharat Gears Ltd: ROCE of 1.88 % is on the lower side compared to the industry average of 7.57%. Dividend yield is 0.00 %.

Is Bharat Gears Ltd profitable and how is the profit trend?

Bharat Gears Ltd reported a net profit of ₹3 Cr in Mar 2025 on revenue of ₹648 Cr. Compared to ₹26 Cr in Mar 2022, the net profit shows a declining trend.

Does Bharat Gears Ltd pay dividends?

Bharat Gears Ltd has a dividend yield of 0.00 % at the current price of ₹90.80. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bharat Gears Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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