Bombay Dyeing & Manufacturing Company Ltd

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.

Bombay Dyeing & Manufacturing Company Ltd trades at ₹126, in a downtrend and 34 weeks into that stage. That is −4.1% against its own 200-day average. It sits at 32% of a 52-week range of ₹98 to ₹185. 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 34 of stage 4, confirmed. At ₹126 it trades −4.1% versus its 200-day average and sits at 32% of its 52-week range (₹98–₹185).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +170% while the NIFTY 500 moved +274% — behind 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 100th 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.

Bombay Dyeing & Manufacturing Company Ltd trades at 386.0× P/E, about the priciest it has ever traded. Its long-run median P/E is 23.4×, measured across 10.4 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 386.0× is about the priciest it has ever traded, against a long-run median of 23.4× measured over 10.4 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 −94.5% against a −25.4% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 10y, of the +10.1%/yr price move, ~−3.8%/yr came from earnings growth and ~+13.9 pp from the multiple (expanding). 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 full 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: No read 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).

Bombay Dyeing & Manufacturing Company Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 12 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

29.9/100 — rank 6 of 6 in Textiles - Processing/Texturising · 77% evidence confidence

Bombay Dyeing & Manufacturing Company Ltd scores 29.9 out of 100 against the 6 companies it is compared with in Textiles - Processing/Texturising, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 10.6 + 6 + 8.5 + 4.8 = 29.9. 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.

Bombay Dyeing & Manufacturing Company Ltd reported ₹396 Cr of revenue in the Mar 26 quarter, +10.3% year on year. Over 10 years it has compounded at −2.3% a year. The last full year, FY26, came in at ₹1,460 Cr. The last four reported quarters add to ₹1,461 Cr.

Bombay Dyeing & Manufacturing Company Ltd reported ₹396 Cr of revenue in the Mar 26 quarter, +10.3% year on year. Over 10 years it has compounded at −2.3% a year. The last full year, FY26, came in at ₹1,460 Cr. The last four reported quarters add to ₹1,461 Cr.

FY26 revenue came in at ₹1,460 Cr (−9.0% on the year), capping 10 years at −2.3% compound. The latest quarter (Mar 26) printed ₹396 Cr, +10.3% year on year.

Pace check: the last four quarters averaged −8.1% growth against the decade's −2.3% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −9.0% over the last 4 quarters against −7.0%/yr over the last 8 — stabilising; TTM profit −94.5% vs −90.4%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 0.0% this quarter (+4.0 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.

Bombay Dyeing & Manufacturing Company Ltd's operating margin is 0.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0% to 39.0%. The current quarter sits inside that band.

Bombay Dyeing & Manufacturing Company Ltd's operating margin is 0.0% in the Mar 26 quarter, +4.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0% to 39.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 0.0%, +4.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0%–39.0%.

Why the margin moved: operating margin went +3.2 pp year on year while gross margin went +0.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins held — did that reach the bottom line? Next: profit +75.0% 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.

Bombay Dyeing & Manufacturing Company Ltd earned ₹21.0 Cr of net profit in the Mar 26 quarter, +75.0% year on year. Full-year FY26 profit was ₹27.0 Cr. That is 5.3% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr. 3 of the last 12 reported quarters were loss-making.

Bombay Dyeing & Manufacturing Company Ltd earned ₹21.0 Cr of net profit in the Mar 26 quarter, +75.0% year on year. Full-year FY26 profit was ₹27.0 Cr. That is 5.3% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr. 3 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹21.0 Cr, +75.0% year on year. On the full year, FY26 printed ₹27.0 Cr (−94.5%).

Why profit moved: revenue contributed +10.3% and the margin +4.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −37.8% vs revenue −8.1%. 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: 5% 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 5% of Bombay Dyeing & Manufacturing Company Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−182 Cr of operating cash against ₹27.0 Cr of profit. After ₹84.0 Cr of capital spending, ₹−266 Cr was left as free cash.

FY26: operating cash of ₹−182 Cr against reported profit of ₹27.0 Cr, leaving free cash of ₹−266 Cr after ₹84.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 5% 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 5%: the cash cycle tightened 1,178 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 3.3× 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: ₹316 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).

Bombay Dyeing & Manufacturing Company Ltd's cash conversion cycle runs 39 days in FY26, down from 1,217 days in FY21. Capital spending ran ₹316 Cr over the last 3 years. At FY26 sales of ₹1,460 Cr each day of that cycle holds about ₹4.0 Cr, so roughly ₹156 Cr sits inside the business at any moment.

FY26: debtors at 11 days, inventory at 151 days — roughly 5.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 39 days, tighter than FY21's 1,217.

The full loop: cash goes out to suppliers and production on day 0; stock waits 151 days to sell; customers pay about 11 days after that; and suppliers themselves are paid at 122 days — netting out to the 39-day cycle.

In money terms: at FY26 sales of ₹1,460 Cr, each day of the cycle holds about ₹4.0 Cr — so the 39-day loop keeps roughly ₹156 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹316 Cr over the last 3 fiscal years against ₹97.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹61.0 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 1% and the ROIC − WACC spread is −17.0 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.

Bombay Dyeing & Manufacturing Company Ltd earns a ROCE of 1% in FY26. That is up from a trough of 1% in FY21. Return on invested capital clears the cost of that capital by −17.0 percentage points, so growth here is not yet paying for the capital it uses.

FY26 ROCE is 1%, recovered from a FY21 trough of 1% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 1.8% net margin × 0.49× asset turns × 1.30× balance-sheet leverage ≈ 1.1% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −5.0% − 12.0% = a −17.0 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 0.00.

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.

Bombay Dyeing & Manufacturing Company Ltd carries total debt of ₹3.0 Cr against shareholder equity of ₹2,259 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from −5.87 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹3.0 Cr against shareholder equity of ₹2,259 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from −5.87 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

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.

No holder of Bombay Dyeing & Manufacturing Company Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.2 points over the same window, to 0.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −0.4 points over 8 quarters to 1.0%; Foreign institutions: +0.2 points over 8 quarters to 0.9%; Promoters: +0.0 points over 8 quarters to 53.6%.

→ 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.

Bombay Dyeing & Manufacturing Company Ltd: the Z-score reads 4.22. 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 4.22 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 4.22.

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