About the Company - Bharat Gears Ltd
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. 729.44 Cr. and Equity Capital is Rs. 10.24 Cr. for the Year ended 31/03/2022.
Management |
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Name | Position Held |
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Mr. Surinder P Kanwar | Chairman & Managing Director |
Mr. Sameer Kanwar | Joint Managing Director |
Mr. Nagar Venkatraman Srinivasan | Non Executive Director |
Mr. Wolfgang Rudolf Schilha | Independent Director |
Mr. Rakesh Chopra | Independent Director |
Mr. Virendra Kumar Pargal | Independent Director |
Ms. Hiroo Suresh Advani | Independent Director |
Mr. Raman Nanda | Independent Director |
Bharat Gears Ltd. Share Price Update |
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Share Price | Value |
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Today | ₹115.25 |
Previous Day | ₹115.15 |
Basic Stock Data of Bharat Gears Ltd
Market Cap | 177 Cr. |
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Current Price | 115 |
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High / Low | 156/96.0 |
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Stock P/E | 188 |
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Book Value | 76.8 |
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Dividend Yield | 0.00 % |
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ROCE | 15.4 % |
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ROE | 11.8 % |
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Face Value | 10.0 |
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Bharat Gears Ltd Quarterly Results
Month | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
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Sales | 128.24 | 151.50 | 174.03 | 164.68 | 186.63 | 187.44 | 190.69 | 183.97 | 213.55 | 189.35 | 179.49 | 170.48 | 179.02 |
Expenses | 118.35 | 135.33 | 160.11 | 146.94 | 169.41 | 171.04 | 176.30 | 171.74 | 198.62 | 180.34 | 169.67 | 161.94 | 172.11 |
Operating Profit | 9.89 | 16.17 | 13.92 | 17.74 | 17.22 | 16.40 | 14.39 | 12.23 | 14.93 | 9.01 | 9.82 | 8.54 | 6.91 |
OPM % | 7.71% | 10.67% | 8.00% | 10.77% | 9.23% | 8.75% | 7.55% | 6.65% | 6.99% | 4.76% | 5.47% | 5.01% | 3.86% |
Other Income | 0.25 | 0.69 | -0.07 | 1.53 | 3.62 | 0.47 | 1.51 | 2.38 | 1.92 | 3.99 | 0.47 | 0.41 | 0.74 |
Interest | 6.33 | 6.06 | 4.80 | 4.89 | 4.97 | 4.44 | 4.12 | 4.16 | 3.97 | 4.39 | 4.56 | 4.42 | 4.38 |
Depreciation | 6.09 | 5.99 | 5.81 | 5.78 | 5.25 | 4.75 | 4.61 | 4.69 | 4.96 | 5.19 | 5.23 | 5.55 | 5.71 |
Profit before tax | -2.28 | 4.81 | 3.24 | 8.60 | 10.62 | 7.68 | 7.17 | 5.76 | 7.92 | 3.42 | 0.50 | -1.02 | -2.44 |
Tax % | 9.21% | 1.46% | 14.51% | 25.70% | 25.14% | 20.05% | 25.24% | 25.35% | 27.27% | 24.27% | -68.00% | 25.49% | 29.10% |
Net Profit | -2.07 | 4.74 | 2.77 | 6.39 | 7.95 | 6.14 | 5.36 | 4.30 | 5.76 | 2.59 | 0.84 | -0.76 | -1.73 |
EPS in Rs | -1.34 | 3.08 | 1.80 | 4.15 | 5.16 | 3.99 | 3.48 | 2.79 | 3.75 | 1.69 | 0.55 | -0.49 | -1.13 |
Bharat Gears Ltd Quarterly Chart
Bharat Gears Ltd Profit & Loss
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
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Sales | 431 | 393 | 420 | 415 | 398 | 407 | 508 | 594 | 463 | 503 | 729 | 766 | 718 |
Expenses | 386 | 364 | 394 | 393 | 367 | 379 | 465 | 536 | 444 | 467 | 664 | 720 | 684 |
Operating Profit | 45 | 28 | 26 | 22 | 31 | 28 | 43 | 59 | 19 | 36 | 66 | 46 | 34 |
OPM % | 10% | 7% | 6% | 5% | 8% | 7% | 8% | 10% | 4% | 7% | 9% | 6% | 5% |
Other Income | 6 | 2 | 3 | 2 | 2 | 1 | 2 | 4 | 5 | 1 | 7 | 9 | 6 |
Interest | 13 | 12 | 14 | 16 | 16 | 15 | 17 | 22 | 22 | 23 | 18 | 17 | 18 |
Depreciation | 11 | 12 | 14 | 14 | 16 | 17 | 18 | 22 | 27 | 24 | 20 | 20 | 22 |
Profit before tax | 27 | 7 | 1 | -6 | 1 | -2 | 9 | 19 | -25 | -10 | 34 | 18 | 0 |
Tax % | 31% | 33% | 0% | 35% | 54% | 36% | 32% | 36% | 24% | 20% | 24% | 23% | |
Net Profit | 19 | 5 | 1 | -4 | 0 | -1 | 6 | 13 | -19 | -8 | 26 | 13 | 1 |
EPS in Rs | 12.65 | 3.38 | 0.41 | -2.86 | 0.16 | -0.99 | 4.12 | 8.19 | -12.19 | -5.00 | 16.78 | 8.78 | 0.62 |
Dividend Payout % | 8% | 28% | 130% | 0% | 0% | 0% | 0% | 6% | 0% | 0% | 0% | 0% | |
Bharat Gears Ltd Profit & Loss Yearly Chart
Bharat Gears Ltd Growth
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Compounded Sales Growth |
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10 Years:: | 7% |
5 Years:: | 9% |
3 Years:: | 18% |
TTM:: | -7% |
Bharat Gears Ltd Growth
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Compounded Profit Growth |
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10 Years:: | 10% |
5 Years:: | 16% |
3 Years:: | 40% |
TTM:: | -96% |
Bharat Gears Ltd Growth
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Stock Price CAGR |
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10 Years:: | 16% |
5 Years:: | 4% |
3 Years:: | 43% |
1 Year:: | -17% |
Bharat Gears Ltd Growth
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Return on Equity |
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10 Years:: | 3% |
5 Years:: | 5% |
3 Years:: | 10% |
Last Year:: | 12% |
Bharat Gears Ltd Balance Sheet
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
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Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 10 | 15 | 15 |
Reserves | 65 | 68 | 68 | 63 | 63 | 59 | 70 | 80 | 70 | 65 | 98 | 105 | 103 |
Borrowings | 62 | 75 | 100 | 100 | 98 | 112 | 134 | 162 | 152 | 118 | 107 | 116 | 106 |
Other Liabilities | 114 | 115 | 115 | 125 | 99 | 112 | 154 | 170 | 143 | 192 | 189 | 171 | 193 |
Total Liabilities | 249 | 266 | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 407 | 417 |
Fixed Assets | 93 | 91 | 135 | 129 | 115 | 103 | 113 | 145 | 150 | 134 | 118 | 132 | 130 |
CWIP | 3 | 25 | 4 | 2 | 3 | 2 | 2 | 10 | 2 | 1 | 1 | 2 | 3 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
Other Assets | 153 | 150 | 152 | 165 | 150 | 186 | 250 | 264 | 222 | 249 | 285 | 272 | 283 |
Total Assets | 249 | 266 | 291 | 295 | 268 | 291 | 366 | 420 | 374 | 384 | 404 | 407 | 417 |
Bharat Gears Ltd Reserves and Borrowings Chart
Bharat Gears Ltd Cash Flow
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
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Cash from Operating Activity | 26 | 26 | 27 | 20 | 23 | 20 | 6 | 50 | 54 | 59 | 30 | 42 |
Cash from Investing Activity | -18 | -26 | -38 | -5 | -7 | -5 | -21 | -56 | -29 | -2 | -5 | -26 |
Cash from Financing Activity | -11 | 1 | 11 | -15 | -16 | -18 | 27 | -5 | -20 | -57 | -32 | -3 |
Net Cash Flow | -3 | 1 | -1 | -0 | 0 | -3 | 12 | -11 | 4 | 0 | -7 | 13 |
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Bharat Gears Ltd Financial Efficiency Indicators
Month | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
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Debtor Days | 56 | 65 | 60 | 63 | 58 | 83 | 92 | 71 | 81 | 77 | 72 | 58 |
Inventory Days | 98 | 98 | 107 | 120 | 112 | 123 | 119 | 125 | 120 | 133 | 89 | 89 |
Days Payable | 138 | 143 | 157 | 178 | 148 | 175 | 181 | 155 | 167 | 229 | 148 | 118 |
Cash Conversion Cycle | 15 | 20 | 9 | 6 | 22 | 31 | 30 | 41 | 33 | -20 | 13 | 30 |
Working Capital Days | 27 | 25 | 27 | 22 | 27 | 48 | 68 | 47 | 46 | 44 | 49 | 51 |
ROCE % | 31% | 14% | 9% | 6% | 10% | 7% | 13% | 18% | -1% | 6% | 24% | 15% |
Bharat Gears Ltd Financial Efficiency Indicators Chart
Bharat Gears Ltd Share Holding Pattern
Month | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
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Promoters | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% | 55.32% |
FIIs | 0.00% | 0.00% | 0.00% | 0.85% | 1.15% | 1.51% | 1.36% | 1.61% | 1.40% | 1.27% | 1.45% | 1.23% |
DIIs | 0.03% | 0.03% | 0.03% | 0.04% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% | 0.03% |
Public | 44.65% | 44.65% | 44.65% | 43.79% | 43.50% | 43.14% | 43.29% | 43.06% | 43.24% | 43.37% | 43.19% | 43.42% |
No. of Shareholders | 13,294 | 13,104 | 13,690 | 12,787 | 14,032 | 16,324 | 16,280 | 26,682 | 26,089 | 25,919 | 25,140 | 24,976 |
Bharat Gears Ltd Shareholding Pattern Chart
No. of Bharat Gears Ltd Shareholders
This stock is not held by any mutual fund
Bharat Gears Ltd ROCE Trend
Bharat Gears Ltd EPS Trend
Bharat Gears Ltd Key Financial Ratios
Month | Mar 23 | Mar 22 | Mar 21 | Mar 20 | Mar 19 |
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FaceValue | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Basic EPS (Rs.) | 8.78 | 26.43 | -8.27 | -20.38 | 15.39 |
Diluted EPS (Rs.) | 8.78 | 26.43 | -8.27 | -20.38 | 15.39 |
Cash EPS (Rs.) | 21.85 | 45.16 | 17.67 | 8.50 | 42.11 |
Book Value[Excl.RevalReserv]/Share (Rs.) | 78.51 | 105.69 | 79.32 | 85.51 | 108.68 |
Book Value[Incl.RevalReserv]/Share (Rs.) | 78.51 | 105.69 | 79.32 | 85.51 | 108.68 |
Dividend / Share (Rs.) | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
Revenue From Operations / Share (Rs.) | 499.10 | 712.57 | 540.53 | 497.65 | 729.97 |
PBDIT / Share (Rs.) | 35.65 | 67.69 | 39.94 | 25.27 | 77.59 |
PBIT / Share (Rs.) | 22.59 | 47.76 | 13.99 | -3.41 | 50.86 |
PBT / Share (Rs.) | 11.46 | 33.28 | -10.37 | -26.67 | 23.88 |
Net Profit / Share (Rs.) | 8.78 | 25.24 | -8.27 | -20.18 | 15.39 |
PBDIT Margin (%) | 7.14 | 9.49 | 7.38 | 5.07 | 10.62 |
PBIT Margin (%) | 4.52 | 6.70 | 2.58 | -0.68 | 6.96 |
PBT Margin (%) | 2.29 | 4.67 | -1.91 | -5.35 | 3.27 |
Net Profit Margin (%) | 1.75 | 3.54 | -1.53 | -4.05 | 2.10 |
Return on Networth / Equity (%) | 11.18 | 23.88 | -10.43 | -23.59 | 14.15 |
Return on Capital Employeed (%) | 15.09 | 24.42 | 7.54 | -1.67 | 21.58 |
Return On Assets (%) | 3.31 | 6.40 | -2.00 | -5.01 | 2.98 |
Long Term Debt / Equity (X) | 0.58 | 0.56 | 0.90 | 1.03 | 0.91 |
Total Debt / Equity (X) | 0.85 | 0.93 | 1.21 | 1.57 | 1.58 |
Asset Turnover Ratio (%) | 1.89 | 1.85 | 1.33 | 1.17 | 1.51 |
Current Ratio (X) | 1.44 | 1.33 | 1.09 | 1.12 | 1.11 |
Quick Ratio (X) | 0.87 | 0.88 | 0.66 | 0.69 | 0.69 |
Inventory Turnover Ratio (X) | 4.37 | 4.15 | 3.04 | 2.58 | 3.37 |
Interest Coverage Ratio (%) | 3.20 | 3.76 | 1.64 | 1.09 | 2.88 |
Interest Coverage Ratio (Post Tax) (%) | 1.79 | 2.21 | 0.66 | 0.13 | 1.57 |
Enterprise Value (Cr.) | 254.57 | 238.57 | 151.72 | 141.12 | 272.47 |
EV / Net Operating Revenue (X) | 0.33 | 0.32 | 0.30 | 0.30 | 0.45 |
EV / EBITDA (X) | 4.65 | 3.44 | 4.08 | 6.00 | 4.31 |
MarketCap / Net Operating Revenue (X) | 0.20 | 0.20 | 0.13 | 0.05 | 0.23 |
Price / BV (X) | 1.31 | 1.36 | 0.92 | 0.29 | 1.58 |
Price / Net Operating Revenue (X) | 0.20 | 0.20 | 0.13 | 0.05 | 0.23 |
EarningsYield | 0.08 | 0.17 | -0.11 | -0.78 | 0.08 |
Bharat Gears Ltd Profitability Ratios (%)
Bharat Gears Ltd Liquidity Ratios
Bharat Gears Ltd Liquidity Ratios (%)
Bharat Gears Ltd Interest Coverage Ratios (%)
Bharat Gears Ltd Valuation Ratios
Fair Value of Bharat Gears Ltd Stock
Fair Value: ₹1737.81
The stock is undervalued by 1,411.14% compared to the current price ₹115
*Investments are subject to market risks
Strength and Weakness of Bharat Gears Ltd Stock
Strength | Weakness |
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The stock has a high average ROCE, which is a positive sign. The company has shown consistent growth in sales and profit over the years. | The stock has a high average Working Capital Days, which may not be favorable. The stock has a high average Cash Conversion Cycle, which may not be favorable. The company has higher borrowings compared to reserves, which may suggest financial risk. |