Share Price and Basic Stock Data
Last Updated: November 7, 2025, 6:38 pm
| PEG Ratio | 2.48 |
|---|
Analyst Insight & Comprehensive Analysis
Business Overview and Revenue Trends
Bhatia Colour Chem Ltd operates in the specialty chemicals sector, focusing on niche products. The company reported sales of ₹110 Cr for the fiscal year ending March 2023, which rose to ₹114 Cr for FY 2024 and is anticipated to reach ₹124 Cr in FY 2025. The revenue trajectory indicates a steady growth pattern, although the quarterly sales figures reveal some fluctuations. For instance, the sales stood at ₹50 Cr in September 2022, increased to ₹61 Cr by March 2023, then slightly declined to ₹54 Cr in September 2023 before stabilizing at ₹61 Cr in March 2024. Furthermore, the company recorded a net profit of ₹3 Cr in FY 2023 and ₹4 Cr in FY 2025, illustrating an upward trend in profitability despite the challenges of a competitive market. The operating profit margin (OPM) remained consistent at 6% for FY 2024 and FY 2025, reflecting effective cost management strategies in a volatile industry.
Profitability and Efficiency Metrics
The profitability metrics of Bhatia Colour Chem Ltd exhibit moderate performance. The company’s return on equity (ROE) stood at 5.17%, while the return on capital employed (ROCE) was reported at 7.73%. Despite these figures indicating reasonable returns, they are on the lower end compared to typical industry standards. The interest coverage ratio (ICR) was recorded at 4.40x, suggesting that the company comfortably meets its interest obligations, although the net profit margin of 2.92% in FY 2025 is relatively low, indicating tighter margins than some peers. The cash conversion cycle (CCC) improved significantly from 2,162 days in FY 2022 to 160 days in FY 2025, highlighting enhanced operational efficiency. Additionally, the company maintained a consistent operating profit of ₹7 Cr in FY 2023 and FY 2024, reflecting stable operational performance amidst fluctuating sales.
Balance Sheet Strength and Financial Ratios
Bhatia Colour Chem Ltd’s balance sheet reflects a cautious financial approach. Total borrowings were reported at ₹21 Cr for FY 2025, which is a slight increase from ₹20 Cr in the previous two fiscal years. The company’s reserves rose from ₹47 Cr in FY 2023 to ₹69 Cr in FY 2025, demonstrating a robust capacity for retaining earnings. The current ratio of 3.13x indicates strong liquidity, providing a buffer against short-term liabilities. However, the price-to-book value ratio stood at 4.03x, suggesting that the stock may be overvalued compared to its book value of ₹66.22 per share. The total debt-to-equity ratio was recorded at 0.25x, indicating a conservative leverage position. These financial ratios point to a stable yet cautious approach to growth, balancing between leveraging opportunities and maintaining financial health.
Shareholding Pattern and Investor Confidence
The shareholding pattern of Bhatia Colour Chem Ltd indicates a diversified ownership structure, with promoters holding 39.66% as of September 2025, down from 44.14% in March 2022. This decline in promoter holding suggests a potential dilution of control, which may impact investor confidence. The public holds 60.34%, reflecting a growing interest among retail investors, as evidenced by the increase in the number of shareholders from 231 in March 2022 to 1,158 by September 2025. Notably, the absence of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) could indicate a lack of institutional support, which may affect the stock’s liquidity and overall market perception. Nevertheless, the increase in public shareholding suggests a positive sentiment towards the company’s future prospects, contributing to a more democratic ownership structure.
Outlook, Risks, and Final Insight
Bhatia Colour Chem Ltd faces both opportunities and risks in the evolving chemicals market. The company’s focus on specialty chemicals positions it well to capitalize on increasing demand for niche products. However, the fluctuating sales figures and relatively low profit margins pose challenges that could impact growth. Operational efficiency improvements, as evidenced by the reduced cash conversion cycle, provide a foundation for enhancing profitability. Nevertheless, potential risks include market volatility, competition from established players, and the reliance on a diverse public shareholder base, which may influence stock price stability. Overall, Bhatia Colour Chem Ltd’s financial health, marked by strong liquidity and rising reserves, suggests that with strategic management and market adaptations, the company could navigate these challenges effectively. Stakeholders should monitor sales trends and profitability metrics closely to gauge future performance.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors of Bhatia Colour Chem Ltd
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| HP Adhesives Ltd | 451 Cr. | 49.1 | 86.7/42.6 | 27.5 | 20.0 | 0.81 % | 13.6 % | 9.82 % | 2.00 |
| Haryana Leather Chemicals Ltd | 37.6 Cr. | 76.6 | 103/56.0 | 16.8 | 87.4 | 1.30 % | 8.02 % | 5.45 % | 10.0 |
| Hardcastle & Waud Mfg Co Ltd | 45.1 Cr. | 663 | 1,140/0.00 | 20.8 | 697 | 0.00 % | 6.31 % | 2.91 % | 10.0 |
| Grauer & Weil (India) Ltd | 3,658 Cr. | 80.7 | 111/78.0 | 24.2 | 22.0 | 0.62 % | 23.3 % | 17.6 % | 1.00 |
| DMCC Speciality Chemicals Ltd | 730 Cr. | 293 | 453/241 | 26.2 | 91.1 | 0.85 % | 14.1 % | 9.97 % | 10.0 |
| Industry Average | 12,641.60 Cr | 720.76 | 46.28 | 180.65 | 0.41% | 12.99% | 25.41% | 6.41 |
Quarterly Result
| Metric | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Sales | 50 | 61 | 54 | 61 | 59 | 66 |
| Expenses | 46 | 57 | 51 | 57 | 56 | 62 |
| Operating Profit | 4 | 4 | 3 | 4 | 4 | 4 |
| OPM % | 7% | 6% | 6% | 6% | 6% | 6% |
| Other Income | -0 | -0 | 0 | -0 | -0 | -0 |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 2 | 2 | 3 | 3 | 3 |
| Tax % | 26% | 28% | 26% | 27% | 26% | 37% |
| Net Profit | 1 | 2 | 1 | 2 | 2 | 2 |
| EPS in Rs | 0.86 | 1.38 | 1.21 | 1.61 | 1.66 | 1.34 |
Last Updated: August 1, 2025, 6:15 am
Below is a detailed analysis of the quarterly data for Bhatia Colour Chem Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:
- For Sales, as of Mar 2025, the value is 66.00 Cr.. The value appears strong and on an upward trend. It has increased from 59.00 Cr. (Sep 2024) to 66.00 Cr., marking an increase of 7.00 Cr..
- For Expenses, as of Mar 2025, the value is 62.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 56.00 Cr. (Sep 2024) to 62.00 Cr., marking an increase of 6.00 Cr..
- For Operating Profit, as of Mar 2025, the value is 4.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 4.00 Cr..
- For OPM %, as of Mar 2025, the value is 6.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 6.00%.
- For Other Income, as of Mar 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 0.00 Cr..
- For Interest, as of Mar 2025, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 1.00 Cr..
- For Depreciation, as of Mar 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 0.00 Cr..
- For Profit before tax, as of Mar 2025, the value is 3.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 3.00 Cr..
- For Tax %, as of Mar 2025, the value is 37.00%. The value appears to be increasing, which may not be favorable. It has increased from 26.00% (Sep 2024) to 37.00%, marking an increase of 11.00%.
- For Net Profit, as of Mar 2025, the value is 2.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 2.00 Cr..
- For EPS in Rs, as of Mar 2025, the value is 1.34. The value appears to be declining and may need further review. It has decreased from 1.66 (Sep 2024) to 1.34, marking a decrease of 0.32.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: October 15, 2025, 3:46 am
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Sales | 14 | 110 | 114 | 124 |
| Expenses | 13 | 103 | 108 | 117 |
| Operating Profit | 1 | 7 | 7 | 8 |
| OPM % | 6% | 7% | 6% | 6% |
| Other Income | 0 | 0 | -0 | -0 |
| Interest | 0 | 3 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 4 | 5 | 5 |
| Tax % | 27% | 27% | 27% | 31% |
| Net Profit | 1 | 3 | 3 | 4 |
| EPS in Rs | 0.43 | 2.24 | 2.82 | 2.99 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
YoY Net Profit Growth
| Year | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|
| YoY Net Profit Growth (%) | 200.00% | 0.00% | 33.33% |
| Change in YoY Net Profit Growth (%) | 0.00% | -200.00% | 33.33% |
Bhatia Colour Chem Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 3 years from 2022-2023 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 106% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 93% |
| TTM: | 7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 91% |
| 1 Year: | 373% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 5% |
| Last Year: | 5% |
Last Updated: September 5, 2025, 2:41 pm
No data available for the Balance Sheet data table.
Cash Flow - No data available for this post.
Free Cash Flow
| Month | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Free Cash Flow | -63.00 | -13.00 | -13.00 | -13.00 |
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.
Financial Efficiency Indicators
| Month | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Debtor Days | 2,220 | 309 | 217 | 185 |
| Inventory Days | 813 | 67 | 59 | 72 |
| Days Payable | 872 | 128 | 71 | 96 |
| Cash Conversion Cycle | 2,162 | 247 | 205 | 160 |
| Working Capital Days | 1,088 | 257 | 209 | 190 |
| ROCE % | 7% | 8% | 8% |
This stock is not held by any mutual fund.
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|---|---|
| FaceValue | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | 2.99 | 2.82 | 2.24 | 0.42 | 0.49 |
| Diluted EPS (Rs.) | 2.99 | 2.82 | 2.24 | 0.42 | 0.49 |
| Cash EPS (Rs.) | 3.36 | 3.10 | 2.39 | 0.45 | 0.49 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 66.22 | 51.18 | 48.36 | 46.12 | 23.04 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 66.22 | 51.18 | 48.36 | 46.12 | 23.04 |
| Revenue From Operations / Share (Rs.) | 102.20 | 93.58 | 90.09 | 11.55 | 7.35 |
| PBDIT / Share (Rs.) | 6.18 | 5.69 | 6.06 | 0.73 | 0.74 |
| PBIT / Share (Rs.) | 5.82 | 5.42 | 5.90 | 0.69 | 0.73 |
| PBT / Share (Rs.) | 4.35 | 3.87 | 3.08 | 0.58 | 0.71 |
| Net Profit / Share (Rs.) | 2.99 | 2.82 | 2.24 | 0.42 | 0.48 |
| PBDIT Margin (%) | 6.05 | 6.08 | 6.72 | 6.33 | 10.11 |
| PBIT Margin (%) | 5.69 | 5.79 | 6.55 | 6.01 | 10.01 |
| PBT Margin (%) | 4.25 | 4.13 | 3.42 | 5.04 | 9.76 |
| Net Profit Margin (%) | 2.92 | 3.01 | 2.48 | 3.66 | 6.63 |
| Return on Networth / Equity (%) | 4.52 | 5.51 | 4.62 | 0.91 | 2.11 |
| Return on Capital Employeed (%) | 8.10 | 8.07 | 9.19 | 1.10 | 3.16 |
| Return On Assets (%) | 2.85 | 3.37 | 2.42 | 0.34 | 0.94 |
| Long Term Debt / Equity (X) | 0.07 | 0.30 | 0.32 | 0.35 | 0.01 |
| Total Debt / Equity (X) | 0.25 | 0.31 | 0.33 | 1.14 | 0.01 |
| Asset Turnover Ratio (%) | 1.08 | 1.06 | 0.84 | 0.00 | 0.00 |
| Current Ratio (X) | 3.13 | 4.98 | 3.26 | 2.06 | 1.81 |
| Quick Ratio (X) | 2.69 | 4.24 | 2.77 | 1.71 | 1.62 |
| Inventory Turnover Ratio (X) | 7.57 | 5.76 | 4.45 | 0.00 | 0.00 |
| Interest Coverage Ratio (X) | 4.40 | 3.67 | 2.15 | 6.51 | 43.38 |
| Interest Coverage Ratio (Post Tax) (X) | 3.18 | 2.83 | 1.80 | 4.77 | 29.53 |
| Enterprise Value (Cr.) | 325.76 | 65.86 | 71.53 | 82.56 | 0.00 |
| EV / Net Operating Revenue (X) | 2.61 | 0.57 | 0.64 | 5.84 | 0.00 |
| EV / EBITDA (X) | 43.05 | 9.45 | 9.65 | 92.27 | 0.00 |
| MarketCap / Net Operating Revenue (X) | 2.61 | 0.53 | 0.47 | 3.70 | 0.00 |
| Price / BV (X) | 4.03 | 0.97 | 0.87 | 0.92 | 0.00 |
| Price / Net Operating Revenue (X) | 2.61 | 0.53 | 0.47 | 3.70 | 0.00 |
| EarningsYield | 0.01 | 0.05 | 0.05 | 0.01 | 0.00 |
After reviewing the key financial ratios for Bhatia Colour Chem Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
- For Basic EPS (Rs.), as of Mar 25, the value is 2.99. This value is below the healthy minimum of 5. It has increased from 2.82 (Mar 24) to 2.99, marking an increase of 0.17.
- For Diluted EPS (Rs.), as of Mar 25, the value is 2.99. This value is below the healthy minimum of 5. It has increased from 2.82 (Mar 24) to 2.99, marking an increase of 0.17.
- For Cash EPS (Rs.), as of Mar 25, the value is 3.36. This value is within the healthy range. It has increased from 3.10 (Mar 24) to 3.36, marking an increase of 0.26.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 66.22. It has increased from 51.18 (Mar 24) to 66.22, marking an increase of 15.04.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 66.22. It has increased from 51.18 (Mar 24) to 66.22, marking an increase of 15.04.
- For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 102.20. It has increased from 93.58 (Mar 24) to 102.20, marking an increase of 8.62.
- For PBDIT / Share (Rs.), as of Mar 25, the value is 6.18. This value is within the healthy range. It has increased from 5.69 (Mar 24) to 6.18, marking an increase of 0.49.
- For PBIT / Share (Rs.), as of Mar 25, the value is 5.82. This value is within the healthy range. It has increased from 5.42 (Mar 24) to 5.82, marking an increase of 0.40.
- For PBT / Share (Rs.), as of Mar 25, the value is 4.35. This value is within the healthy range. It has increased from 3.87 (Mar 24) to 4.35, marking an increase of 0.48.
- For Net Profit / Share (Rs.), as of Mar 25, the value is 2.99. This value is within the healthy range. It has increased from 2.82 (Mar 24) to 2.99, marking an increase of 0.17.
- For PBDIT Margin (%), as of Mar 25, the value is 6.05. This value is below the healthy minimum of 10. It has decreased from 6.08 (Mar 24) to 6.05, marking a decrease of 0.03.
- For PBIT Margin (%), as of Mar 25, the value is 5.69. This value is below the healthy minimum of 10. It has decreased from 5.79 (Mar 24) to 5.69, marking a decrease of 0.10.
- For PBT Margin (%), as of Mar 25, the value is 4.25. This value is below the healthy minimum of 10. It has increased from 4.13 (Mar 24) to 4.25, marking an increase of 0.12.
- For Net Profit Margin (%), as of Mar 25, the value is 2.92. This value is below the healthy minimum of 5. It has decreased from 3.01 (Mar 24) to 2.92, marking a decrease of 0.09.
- For Return on Networth / Equity (%), as of Mar 25, the value is 4.52. This value is below the healthy minimum of 15. It has decreased from 5.51 (Mar 24) to 4.52, marking a decrease of 0.99.
- For Return on Capital Employeed (%), as of Mar 25, the value is 8.10. This value is below the healthy minimum of 10. It has increased from 8.07 (Mar 24) to 8.10, marking an increase of 0.03.
- For Return On Assets (%), as of Mar 25, the value is 2.85. This value is below the healthy minimum of 5. It has decreased from 3.37 (Mar 24) to 2.85, marking a decrease of 0.52.
- For Long Term Debt / Equity (X), as of Mar 25, the value is 0.07. This value is below the healthy minimum of 0.2. It has decreased from 0.30 (Mar 24) to 0.07, marking a decrease of 0.23.
- For Total Debt / Equity (X), as of Mar 25, the value is 0.25. This value is within the healthy range. It has decreased from 0.31 (Mar 24) to 0.25, marking a decrease of 0.06.
- For Asset Turnover Ratio (%), as of Mar 25, the value is 1.08. It has increased from 1.06 (Mar 24) to 1.08, marking an increase of 0.02.
- For Current Ratio (X), as of Mar 25, the value is 3.13. This value exceeds the healthy maximum of 3. It has decreased from 4.98 (Mar 24) to 3.13, marking a decrease of 1.85.
- For Quick Ratio (X), as of Mar 25, the value is 2.69. This value exceeds the healthy maximum of 2. It has decreased from 4.24 (Mar 24) to 2.69, marking a decrease of 1.55.
- For Inventory Turnover Ratio (X), as of Mar 25, the value is 7.57. This value is within the healthy range. It has increased from 5.76 (Mar 24) to 7.57, marking an increase of 1.81.
- For Interest Coverage Ratio (X), as of Mar 25, the value is 4.40. This value is within the healthy range. It has increased from 3.67 (Mar 24) to 4.40, marking an increase of 0.73.
- For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.18. This value is within the healthy range. It has increased from 2.83 (Mar 24) to 3.18, marking an increase of 0.35.
- For Enterprise Value (Cr.), as of Mar 25, the value is 325.76. It has increased from 65.86 (Mar 24) to 325.76, marking an increase of 259.90.
- For EV / Net Operating Revenue (X), as of Mar 25, the value is 2.61. This value is within the healthy range. It has increased from 0.57 (Mar 24) to 2.61, marking an increase of 2.04.
- For EV / EBITDA (X), as of Mar 25, the value is 43.05. This value exceeds the healthy maximum of 15. It has increased from 9.45 (Mar 24) to 43.05, marking an increase of 33.60.
- For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 2.61. This value is within the healthy range. It has increased from 0.53 (Mar 24) to 2.61, marking an increase of 2.08.
- For Price / BV (X), as of Mar 25, the value is 4.03. This value exceeds the healthy maximum of 3. It has increased from 0.97 (Mar 24) to 4.03, marking an increase of 3.06.
- For Price / Net Operating Revenue (X), as of Mar 25, the value is 2.61. This value is within the healthy range. It has increased from 0.53 (Mar 24) to 2.61, marking an increase of 2.08.
- For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.05 (Mar 24) to 0.01, marking a decrease of 0.04.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
Unable to fetch valid data for stock valuation.Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bhatia Colour Chem Ltd:
- Net Profit Margin: 2.92%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: 8.1% (Industry Average ROCE: 12.99%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: 4.52% (Industry Average ROE: 25.41%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 3.18
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 2.69
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 155 (Industry average Stock P/E: 46.28)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0.25
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 2.92%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Chemicals - Speciality - Others | Plot No. A/2/12, Road No. 1, Surat Gujarat 394210 | cs@bccindia.com https://www.bccl.info |
| Management | |
|---|---|
| Name | Position Held |
| Mr. Bharat Brijlal Bhatia | Executive & Managing Director |
| Mr. Rameshchand Chanduram Bhatia | Executive & Wholetime Director |
| Mr. Ravi Ashokkumar Bhatia | Executive & Wholetime Director |
| Mr. Nevil Prameshkumar Soni | Non Exe. & Ind. Director |
| Ms. Rutu Milindbhai Sanghvi | Non Exe. & Ind. Director |
| Ms. Insiya Qaidjohar Nalawala | Non Exe. & Ind. Director |