BHARATGEAR

Bharat Gears Limited

Bharat Gears Limited (BHARATGEAR) financial statements and selected valuation metrics through 30 June 2026.

Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments

bharatgears.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹102.67
Market cap
158 Cr
Stock P/E
10.5
P/B
1.20
Dividend yield
0.0%
ROE (FY26)
12.6%
ROCE (FY26)
19.0%
Operating margin (FY26)
3.8%
Debt / equity (FY26)
0.44
OCF / EBITDA (FY26)
56.3%
OCF / EBITDA (3Y)
123.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Bharat Gears makes automotive gears and related products, which it reports as a single business, at its works in Faridabad, Haryana, and Mumbra, Maharashtra.

Company snapshot

93rdBy market cap

Ranked among 94 companies in Auto Components & Equipments.

What we see

Positives
  • ✓124% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 2.1% — little room for error if costs rise.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales179 Cr143 Cr171 Cr166 Cr165 Cr142 Cr175 Cr180 Cr205 Cr189 Cr210 Cr216 Cr
Operating expenses (approx.)172 Cr142 Cr163 Cr158 Cr157 Cr145 Cr162 Cr170 Cr188 Cr177 Cr197 Cr208 Cr
EBITDA7 Cr0.79 Cr7 Cr8 Cr8 Cr-3 Cr13 Cr10 Cr17 Cr12 Cr13 Cr8 Cr
OPM %3.9%0.6%4.3%4.5%4.7%-1.8%7.2%5.5%8.3%6.3%6.4%3.8%
Other income0.74 Cr2 Cr0.48 Cr0.29 Cr1 Cr0.28 Cr0.66 Cr2 Cr2 Cr0.52 Cr2 Cr0.41 Cr
Interest4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr3 Cr3 Cr3 Cr
Depreciation6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr5 Cr5 Cr
Profit before tax-2 Cr-7 Cr-2 Cr-2 Cr16 Cr-13 Cr3 Cr2 Cr10 Cr3 Cr7 Cr0.20 Cr
Tax %29.1%23.3%22.2%25.2%12.6%18.5%50.5%25.3%24.5%24.8%25.9%25.3%
Net profit-2 Cr-5 Cr-2 Cr-2 Cr14 Cr-10 Cr2 Cr2 Cr7 Cr3 Cr5 Cr0.15 Cr
EPS (₹)₹-1.13₹-3.59₹-1.13₹-1.18₹8.84₹-6.70₹1.12₹1.07₹4.70₹1.68₹3.30₹0.10

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales434 Cr514 Cr594 Cr463 Cr503 Cr729 Cr766 Cr663 Cr648 Cr784 CrSign in free for the trailing twelve months
Operating expenses (approx.)406 Cr471 Cr536 Cr444 Cr467 Cr664 Cr720 Cr640 Cr622 Cr732 CrSign in free for the trailing twelve months
EBITDA28 Cr43 Cr58 Cr19 Cr36 Cr66 Cr46 Cr24 Cr25 Cr52 CrSign in free for the trailing twelve months
OPM %6.5%8.3%9.8%4.0%7.1%9.0%6.0%3.6%3.9%6.7%Sign in free for the trailing twelve months
Other income1 Cr2 Cr5 Cr5 Cr1 Cr4 Cr9 Cr4 Cr3 Cr6 CrSign in free for the trailing twelve months
Interest15 Cr17 Cr22 Cr22 Cr23 Cr18 Cr17 Cr17 Cr17 Cr14 CrSign in free for the trailing twelve months
Depreciation17 Cr18 Cr22 Cr27 Cr24 Cr20 Cr20 Cr23 Cr24 Cr23 CrSign in free for the trailing twelve months
Profit before tax-2 Cr9 Cr19 Cr-25 Cr-10 Cr34 Cr18 Cr-13 Cr4 Cr22 CrSign in free for the trailing twelve months
Tax %36.0%31.8%35.6%24.4%20.2%24.2%23.4%24.4%19.0%25.0%Sign in free for the trailing twelve months
Net profit-1 Cr6 Cr13 Cr-19 Cr-8 Cr26 Cr13 Cr-10 Cr3 Cr17 CrSign in free for the trailing twelve months
EPS (₹)₹-1.87₹7.93₹15.39₹-20.38₹-8.27₹26.43₹8.78₹-6.34₹2.08₹10.75Sign in free for the trailing twelve months
Dividend payout %—————0.1%0.0%—0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital8 Cr8 Cr8 Cr9 Cr9 Cr10 Cr15 Cr15 Cr15 Cr15 Cr
Reserves59 Cr70 Cr80 Cr70 Cr65 Cr98 Cr105 Cr95 Cr98 Cr116 Cr
Borrowings90 Cr129 Cr140 Cr125 Cr89 Cr101 Cr103 Cr93 Cr61 Cr58 Cr
Other liabilities134 Cr159 Cr191 Cr170 Cr221 Cr195 Cr184 Cr181 Cr190 Cr211 Cr
Total liabilities291 Cr366 Cr420 Cr374 Cr384 Cr404 Cr407 Cr385 Cr364 Cr401 Cr
Fixed assets (net)102 Cr112 Cr144 Cr145 Cr126 Cr112 Cr119 Cr112 Cr110 Cr101 Cr
CWIP2 Cr2 Cr10 Cr2 Cr1 Cr1 Cr2 Cr5 Cr2 Cr4 Cr
Investments——0 Cr0 Cr0 Cr0 Cr1 Cr1 Cr1 Cr1 Cr
Loans & advances——0.75 Cr0.62 Cr0.56 Cr0.61 Cr0.51 Cr0.52 Cr0.56 Cr0.64 Cr
Inventories62 Cr77 Cr94 Cr78 Cr90 Cr90 Cr100 Cr82 Cr93 Cr101 Cr
Trade receivables92 Cr128 Cr116 Cr102 Cr106 Cr144 Cr123 Cr116 Cr97 Cr114 Cr
Cash & bank0.46 Cr0.25 Cr0.57 Cr0.69 Cr0.10 Cr3 Cr0.06 Cr2 Cr0.06 Cr0.06 Cr
Other assets32 Cr46 Cr54 Cr46 Cr59 Cr52 Cr62 Cr66 Cr60 Cr79 Cr
Total assets291 Cr366 Cr420 Cr374 Cr384 Cr404 Cr407 Cr385 Cr364 Cr401 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity20 Cr6 Cr50 Cr54 Cr59 Cr30 Cr42 Cr47 Cr49 Cr29 Cr
Cash from investing-5 Cr-21 Cr-56 Cr-29 Cr-2 Cr-5 Cr-26 Cr-13 Cr2 Cr-8 Cr
Cash from financing-18 Cr27 Cr-5 Cr-20 Cr-57 Cr-32 Cr-3 Cr-37 Cr-51 Cr-31 Cr
Net cash flow-3 Cr12 Cr-11 Cr4 Cr0.08 Cr-7 Cr13 Cr-4 Cr0.14 Cr-10 Cr
Free cash flow (OCF − Capex)14 Cr-15 Cr-6 Cr23 Cr55 Cr26 Cr16 Cr32 Cr35 Cr18 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.0%12.6%18.1%-1.6%8.0%25.1%15.5%2.3%12.1%19.0%
ROE %-2.2%8.1%14.2%-23.6%-10.4%23.9%11.2%-8.8%2.8%12.6%
Debtor days77917181777258645453
Inventory days1201151191281298887879689
Days payable171175147179223146115129131132
Cash conversion cycle26314330-171430222010
OCF / EBITDA %72.1%14.3%85.8%287.4%164.9%46.0%91.3%198.0%193.6%56.3%
OCF / EBITDA % (3 years)——59.2%91.6%144.2%118.9%89.0%87.9%145.1%123.7%
Debt / equity1.351.651.581.571.210.930.850.840.540.44
Current ratio1.041.261.111.121.091.331.441.261.221.23
Net debt / EBITDA3.173.002.396.642.481.492.243.882.421.11