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Fundamental Analysis of Bharat Gears Ltd

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.
INDUSTRYADDRESSCONTACT
Auto Ancl - Gears & Drive20 K.M. Mathura Road, P.O. Box 328, Faridabad Haryana 121003info@bglindia.com
http://www.bharatgears.com
Management
NamePosition Held
Mr. Surinder P KanwarChairman & Managing Director
Mr. Sameer KanwarJoint Managing Director
Mr. Nagar Venkatraman SrinivasanNon Executive Director
Mr. Wolfgang Rudolf SchilhaIndependent Director
Mr. Rakesh ChopraIndependent Director
Mr. Virendra Kumar PargalIndependent Director
Ms. Hiroo Suresh AdvaniIndependent Director
Mr. Raman NandaIndependent Director

Bharat Gears Ltd. Share Price Update

Share PriceValue
Today₹115.25
Previous Day₹115.15

Basic Stock Data of Bharat Gears Ltd

Market Cap 177 Cr.
Current Price 115
High / Low156/96.0
Stock P/E188
Book Value 76.8
Dividend Yield0.00 %
ROCE15.4 %
ROE11.8 %
Face Value 10.0

Bharat Gears Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales128.24151.50174.03164.68186.63187.44190.69183.97213.55189.35179.49170.48179.02
Expenses118.35135.33160.11146.94169.41171.04176.30171.74198.62180.34169.67161.94172.11
Operating Profit9.8916.1713.9217.7417.2216.4014.3912.2314.939.019.828.546.91
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 Income0.250.69-0.071.533.620.471.512.381.923.990.470.410.74
Interest6.336.064.804.894.974.444.124.163.974.394.564.424.38
Depreciation6.095.995.815.785.254.754.614.694.965.195.235.555.71
Profit before tax-2.284.813.248.6010.627.687.175.767.923.420.50-1.02-2.44
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-2.074.742.776.397.956.145.364.305.762.590.84-0.76-1.73
EPS in Rs-1.343.081.804.155.163.993.482.793.751.690.55-0.49-1.13

Bharat Gears Ltd Quarterly Chart

Bharat Gears Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales431393420415398407508594463503729766718
Expenses386364394393367379465536444467664720684
Operating Profit45282622312843591936664634
OPM %10%7%6%5%8%7%8%10%4%7%9%6%5%
Other Income6232212451796
Interest13121416161517222223181718
Depreciation11121414161718222724202022
Profit before tax2771-61-2919-25-1034180
Tax %31%33%0%35%54%36%32%36%24%20%24%23%
Net Profit1951-40-1613-19-826131
EPS in Rs12.653.380.41-2.860.16-0.994.128.19-12.19-5.0016.788.780.62
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

Compounded Sales Growth
10 Years::7%
5 Years::9%
3 Years::18%
TTM::-7%

Bharat Gears Ltd Growth

Compounded Profit Growth
10 Years::10%
5 Years::16%
3 Years::40%
TTM::-96%

Bharat Gears Ltd Growth

Stock Price CAGR
10 Years::16%
5 Years::4%
3 Years::43%
1 Year::-17%

Bharat Gears Ltd Growth

Return on Equity
10 Years::3%
5 Years::5%
3 Years::10%
Last Year::12%

Bharat Gears Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital8888888899101515
Reserves6568686363597080706598105103
Borrowings627510010098112134162152118107116106
Other Liabilities11411511512599112154170143192189171193
Total Liabilities249266291295268291366420374384404407417
Fixed Assets9391135129115103113145150134118132130
CWIP325423221021123
Investments0000000000011
Other Assets153150152165150186250264222249285272283
Total Assets249266291295268291366420374384404407417

Bharat Gears Ltd Reserves and Borrowings Chart

Bharat Gears Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 26262720232065054593042
Cash from Investing Activity -18-26-38-5-7-5-21-56-29-2-5-26
Cash from Financing Activity -11111-15-16-1827-5-20-57-32-3
Net Cash Flow-31-1-00-312-1140-713

Bharat Gears Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days566560635883927181777258
Inventory Days98981071201121231191251201338989
Days Payable138143157178148175181155167229148118
Cash Conversion Cycle1520962231304133-201330
Working Capital Days272527222748684746444951
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

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%55.32%
FIIs0.00%0.00%0.00%0.85%1.15%1.51%1.36%1.61%1.40%1.27%1.45%1.23%
DIIs0.03%0.03%0.03%0.04%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
Public44.65%44.65%44.65%43.79%43.50%43.14%43.29%43.06%43.24%43.37%43.19%43.42%
No. of Shareholders13,29413,10413,69012,78714,03216,32416,28026,68226,08925,91925,14024,976

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

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)8.7826.43-8.27-20.3815.39
Diluted EPS (Rs.)8.7826.43-8.27-20.3815.39
Cash EPS (Rs.)21.8545.1617.678.5042.11
Book Value[Excl.RevalReserv]/Share (Rs.)78.51105.6979.3285.51108.68
Book Value[Incl.RevalReserv]/Share (Rs.)78.51105.6979.3285.51108.68
Dividend / Share (Rs.)0.000.000.000.001.00
Revenue From Operations / Share (Rs.)499.10712.57540.53497.65729.97
PBDIT / Share (Rs.)35.6567.6939.9425.2777.59
PBIT / Share (Rs.)22.5947.7613.99-3.4150.86
PBT / Share (Rs.)11.4633.28-10.37-26.6723.88
Net Profit / Share (Rs.)8.7825.24-8.27-20.1815.39
PBDIT Margin (%)7.149.497.385.0710.62
PBIT Margin (%)4.526.702.58-0.686.96
PBT Margin (%)2.294.67-1.91-5.353.27
Net Profit Margin (%)1.753.54-1.53-4.052.10
Return on Networth / Equity (%)11.1823.88-10.43-23.5914.15
Return on Capital Employeed (%)15.0924.427.54-1.6721.58
Return On Assets (%)3.316.40-2.00-5.012.98
Long Term Debt / Equity (X)0.580.560.901.030.91
Total Debt / Equity (X)0.850.931.211.571.58
Asset Turnover Ratio (%)1.891.851.331.171.51
Current Ratio (X)1.441.331.091.121.11
Quick Ratio (X)0.870.880.660.690.69
Inventory Turnover Ratio (X)4.374.153.042.583.37
Interest Coverage Ratio (%)3.203.761.641.092.88
Interest Coverage Ratio (Post Tax) (%)1.792.210.660.131.57
Enterprise Value (Cr.)254.57238.57151.72141.12272.47
EV / Net Operating Revenue (X)0.330.320.300.300.45
EV / EBITDA (X)4.653.444.086.004.31
MarketCap / Net Operating Revenue (X)0.200.200.130.050.23
Price / BV (X)1.311.360.920.291.58
Price / Net Operating Revenue (X)0.200.200.130.050.23
EarningsYield0.080.17-0.11-0.780.08

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

StrengthWeakness

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.

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