Bharat Bijlee Ltd
BBLBharat Bijlee Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Foreign institutions moved +2.2 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a downtrend (1 weeks in) while the P/E sits at the 54th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −22.0% year on year, and 84% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Bharat Bijlee Ltd trades at ₹2,668, in a downtrend and 1 weeks into that stage. That is −3.9% against its own 200-day average. It sits at 46% of a 52-week range of ₹2,135 to ₹3,300. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (2 weeks and counting).
Today the stock is in a downtrend — week 1 of stage 4, confirmed. At ₹2,668 it trades −3.9% versus its 200-day average and sits at 46% of its 52-week range (₹2,135–₹3,300).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +615% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (2 weeks and counting; last ahead the week of 2026-07-03) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 54th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Bharat Bijlee Ltd trades at 23.7× P/E, mid-range by its own standards (54th percentile). Its long-run median P/E is 23.1×, measured across 10.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 23.7× is mid-range by its own standards (54th percentile), against a long-run median of 23.1× measured over 10.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −10.1% against a −20.3% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +31.2%/yr price move, ~+35.7%/yr came from earnings growth and ~−4.5 pp from the multiple (compressing); over 10y, of the +18.8%/yr price move, ~+28.4%/yr came from earnings growth and ~−9.6 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Bharat Bijlee Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −10.4% latest against +68.9% at its 12-quarter best), ROCE holding at 8.2%. The read is built from 12 quarters across 4 curves, on full evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +19.6% | +17.0% | +25.5% | +13.6% |
| Profit | −10.4% | +13.1% | +35.8% | +32.9% |
| EPS | −10.1% | +13.0% | +35.7% | +32.5% |
| Share price | −20.3% | +13.3% | +31.2% | +18.8% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
34.8/100 — rank 9 of 12 in Capital Goods - Transformers · 96% evidence confidence
Bharat Bijlee Ltd scores 34.8 out of 100 against the 12 companies it is compared with in Capital Goods - Transformers, ranking 9. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 16.5 + 7.6 + 7.8 + 2.9 = 34.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Bharat Bijlee Ltd reported ₹767 Cr of revenue in the Mar 26 quarter, +23.9% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 13.6% a year. The last full year, FY26, came in at ₹2,274 Cr. The last four reported quarters add to ₹2,273 Cr.
Bharat Bijlee Ltd reported ₹767 Cr of revenue in the Mar 26 quarter, +23.9% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 13.6% a year. The last full year, FY26, came in at ₹2,274 Cr. The last four reported quarters add to ₹2,273 Cr.
FY26 revenue came in at ₹2,274 Cr (+19.6% on the year), capping 10 years at 13.6% compound. The latest quarter (Mar 26) printed ₹767 Cr, +23.9% year on year — the 6th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +19.6% growth against the decade's 13.6% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +19.5% over the last 4 quarters against +10.2%/yr over the last 8 — accelerating; TTM profit −10.4% vs −4.7%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 7.0% this quarter (−3.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Bharat Bijlee Ltd's operating margin is 7.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0% to 9.0%. The current quarter sits inside that band.
Bharat Bijlee Ltd's operating margin is 7.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0% to 9.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 7.0%, −3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −3.0%–9.0%.
🚨 Why the margin moved: operating margin went −3.0 pp year on year while gross margin went −4.6 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit −22.0% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Bharat Bijlee Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, −22.0% year on year. Full-year FY26 profit was ₹120 Cr. The 10-year compound rate is 32.9%. That is 5.1% of the quarter's revenue. The same quarter a year earlier earned ₹50.0 Cr.
Bharat Bijlee Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, −22.0% year on year. Full-year FY26 profit was ₹120 Cr. The 10-year compound rate is 32.9%. That is 5.1% of the quarter's revenue. The same quarter a year earlier earned ₹50.0 Cr.
Mar 26 profit was ₹39.0 Cr, −22.0% year on year. On the full year, FY26 printed ₹120 Cr (−10.4%), and the 10-year compound rate is 32.9%.
🚨 Why profit moved: revenue contributed +23.9% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +0.8% vs revenue +19.6%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 84% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 84% of Bharat Bijlee Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹−92.0 Cr of operating cash against ₹120 Cr of profit. After ₹107 Cr of capital spending, ₹−199 Cr was left as free cash.
FY26: operating cash of ₹−92.0 Cr against reported profit of ₹120 Cr, leaving free cash of ₹−199 Cr after ₹107 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 84% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 84%: the cash cycle tightened 58 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 3.1× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹174 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Bharat Bijlee Ltd's cash conversion cycle runs 120 days in FY26, down from 178 days in FY21. Capital spending ran ₹174 Cr over the last 3 years. At FY26 sales of ₹2,274 Cr each day of that cycle holds about ₹6.2 Cr, so roughly ₹748 Cr sits inside the business at any moment.
FY26: debtors at 93 days, inventory at 107 days — roughly 3.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 120 days, tighter than FY21's 178.
The full loop: cash goes out to suppliers and production on day 0; stock waits 107 days to sell; customers pay about 93 days after that; and suppliers themselves are paid at 79 days — netting out to the 120-day cycle.
In money terms: at FY26 sales of ₹2,274 Cr, each day of the cycle holds about ₹6.2 Cr — so the 120-day loop keeps roughly ₹748 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹174 Cr over the last 3 fiscal years against ₹56.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹83.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 8% and the ROIC − WACC spread is −7.1 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Bharat Bijlee Ltd earns a ROCE of 8% in FY26. That is up from a trough of −3% in FY15. Return on invested capital clears the cost of that capital by −7.1 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.3% net margin on 0.73× asset turns.
FY26 ROCE is 8%, recovered from a FY15 trough of −3% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 5.3% net margin × 0.73× asset turns × 1.53× balance-sheet leverage ≈ 5.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 4.9% − 12.0% = a −7.1 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.15.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Bharat Bijlee Ltd carries total debt of ₹307 Cr against shareholder equity of ₹2,029 Cr as of Mar 26, a debt-to-equity of 0.15 — effectively unlevered. On the annual view that ratio went from 0.26 in FY22 to 0.15 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹307 Cr against shareholder equity of ₹2,029 Cr — a debt-to-equity of 0.15. On the annual view, debt-to-equity went from 0.26 (FY22) to 0.15 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 2.9 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 2.9 points of Bharat Bijlee Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 15.6% of the company. Foreign institutions moved +2.2 points over the same window, to 5.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +2.9 points over 8 quarters to 15.6%; Foreign institutions: +2.2 points over 8 quarters to 5.8%; Promoters: +0.0 points over 8 quarters to 33.6%.
Why the register moved: domestic institutions drove it (+2.9 points), alongside foreign institutions (+2.2 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Bharat Bijlee Ltd: the Z-score reads 3.22. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 3.22 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 3.22.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Bharat Bijlee Ltd this page | 23.7× | ₹2,848 Cr | Mixed | |||
| CG Power & Industrial Solutions Ltd | 107.0× | ₹1.4L Cr | Turning around | |||
| Schneider Electric Infrastructure Ltd | 145.0× | ₹32,341 Cr | Mixed | |||
| Voltamp Transformers Ltd | 31.7× | ₹9,288 Cr | Topping out | |||
| Transformers & Rectifiers India Ltd | 34.2× | ₹8,855 Cr | Topping out | |||
| Shilchar Technologies Ltd | 30.9× | ₹4,882 Cr | Topping out | |||
| Indo Tech Transformers Ltd | 39.1× | ₹3,630 Cr | Mixed | |||
| Ujaas Energy Ltd | 780.0× | ₹2,380 Cr | No read | |||
| Marsons Ltd | 40.8× | ₹1,892 Cr | Mixed | |||
| Danish Power Ltd | 23.5× | ₹1,622 Cr | — | — | — | — |
| Ujaas Energy Ltd | 588.0× | ₹1,601 Cr | No read | |||
| Vilas Transcore Ltd | 22.1× | ₹875 Cr | No read | |||
| Supreme Power Equipment Ltd | 23.5× | ₹481 Cr | Mixed |
Frequently asked questions
What is Bharat Bijlee Ltd's share price today?
Bharat Bijlee Ltd trades at ₹2,668, −20.3% over the past year. The company is valued at ₹2,848 Cr. The stock sits at 46% of its 52-week range of ₹2,135–₹3,300, −3.9% versus its 200-day average. On the tape, the price is in a downtrend, 1 weeks in. — as of 24 July 2026.
What were Bharat Bijlee Ltd's latest quarterly results?
Bharat Bijlee Ltd reported revenue of ₹767 Cr and net profit of ₹39.0 Cr for the Mar 26 quarter. Revenue rose 23.9% and profit fell 22.0% year on year. Earnings per share were ₹34.77. The operating margin was 7.0%, 3.0 pp lower than a year earlier. — as of 24 July 2026.
What is Bharat Bijlee Ltd's revenue?
Bharat Bijlee Ltd reported revenue of ₹767 Cr in the Mar 26 quarter, +23.9% year on year. For the full FY26 fiscal year, revenue was ₹2,274 Cr (+19.6%). Over the last 10 years revenue compounded at 13.6% a year. — as of 24 July 2026.
What is Bharat Bijlee Ltd's profit?
Bharat Bijlee Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, −22.0% year on year. Full-year FY26 profit was ₹120 Cr. The operating margin ran 7.0% in the latest quarter. — as of 24 July 2026.
What is Bharat Bijlee Ltd's market cap?
Bharat Bijlee Ltd's market capitalisation is ₹2,848 Cr at a share price of ₹2,668. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Bharat Bijlee Ltd's P/E ratio?
Bharat Bijlee Ltd trades at a P/E of 23.7×, at the 54th percentile of its own 10-year range, against a long-run median of 23.1×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Bharat Bijlee Ltd pay a dividend?
Yes — Bharat Bijlee Ltd's dividend payout was 33% of profit in FY26, and it recorded a payout in 9 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Bharat Bijlee Ltd overvalued?
On its own history, Bharat Bijlee Ltd looks mid-range against its own history: its P/E of 23.7× sits at the 54th percentile of its 10-year range (long-run median 23.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Bharat Bijlee Ltd growing?
Not right now — Bharat Bijlee Ltd's latest numbers are shrinking: latest-quarter revenue +23.9% year on year, profit −22.0%, and the margin −3.0 pp at 7.0%. The 10-year compound rates are 13.6% (revenue) and 32.9% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Bharat Bijlee Ltd performing?
Bharat Bijlee Ltd is in a downtrend, 1 weeks in. Its latest quarter's revenue rose 23.9% and profit fell 22.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Bharat Bijlee Ltd in?
Deteriorating — profit and EPS growth are shrinking (profit growth −10.4% latest against +68.9% at its 12-quarter best), ROCE holding at 8.2%. The read comes from the last 12 quarters of growth (revenue growth +19.5% latest, profit growth −10.4% latest, eps growth −10.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Bharat Bijlee Ltd in an uptrend?
No — the price is in a downtrend (week 1 of stage 4), trading −3.9% versus its 200-day average and at 46% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Bharat Bijlee Ltd beating the market?
Not lately — on a trailing-13-week view Bharat Bijlee Ltd is currently behind the NIFTY 500 (2 weeks and counting; last ahead the week of 2026-07-03), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +615% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 24 July 2026.
Will Bharat Bijlee Ltd's share price go up?
This page publishes no price forecast for Bharat Bijlee Ltd. What it measures instead: the share price is ₹2,668, the price is in a downtrend 1 weeks in. Its P/E of 23.7× sits at the 54th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Bharat Bijlee Ltd?
Promoters hold 33.6% of Bharat Bijlee Ltd, foreign institutions 5.8%, domestic institutions 15.6% and the public 44.9% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 2.9 points over 8 quarters. — as of 24 July 2026.
Does Bharat Bijlee Ltd have too much debt?
No — Bharat Bijlee Ltd's debt-to-equity is 0.15, and operating profit covers the interest bill 7×. FY26 borrowings were ₹301 Cr against equity of ₹2,029 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Bharat Bijlee Ltd's capex?
Bharat Bijlee Ltd spent ₹174 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹107 Cr, with ₹83.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Bharat Bijlee Ltd's cash flow?
Bharat Bijlee Ltd generated ₹−92.0 Cr of operating cash flow in FY26 and ₹−199 Cr of free cash flow after ₹107 Cr of capital spending. Reported profit that year was ₹120 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Bharat Bijlee Ltd's profit real cash?
Yes — over the last 3 fiscal years, 84% of Bharat Bijlee Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−92.0 Cr against reported profit of ₹120 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
How financially safe is Bharat Bijlee Ltd?
On the balance sheet, the Z-score reads 3.22 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 24 July 2026.
Where is Bharat Bijlee Ltd in its business cycle?
Bharat Bijlee Ltd's FY26 operating margin was 7.0%, against a 13-year band of −3.0%–9.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 7.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Bharat Bijlee Ltd story?
The sharpest disagreement: Foreign institutions moved +2.2 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Bharat Bijlee Ltd a stock worth studying right now?
This is not investment advice. The machine read: Bharat Bijlee Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.