BHARATSE

Bharat Seats Limited

Seating systems and automotive parts for automobile industry

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

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

Price as of 2026-10-16

Stock price
₹208.61
Market cap
1,313 Cr
Stock P/E
28.4
P/B
5.71
Dividend yield
0.5%
ROE (FY26)
18.4%
ROCE (FY26)
24.2%
Operating margin (FY26)
3.3%
Debt / equity (FY26)
0.22
OCF / EBITDA (FY26)
107.6%
OCF / EBITDA (3Y)
110.3%

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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What you need to know

Bharat Seats makes automotive seating systems from a plant inside the Maruti Udyog Joint Venture Complex in Gurugram, Haryana, and Maruti Suzuki India is one of its promoters.

Company snapshot

67thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

What we see

Positives
  • ✓110% 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 2.2% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all

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
Sales286 Cr250 Cr278 Cr299 Cr291 Cr306 Cr393 Cr427 Cr459 Cr491 Cr574 Cr578 Cr
Operating expenses (approx.)269 Cr235 Cr261 Cr282 Cr273 Cr288 Cr370 Cr405 Cr436 Cr466 Cr545 Cr550 Cr
EBITDA17 Cr15 Cr17 Cr17 Cr18 Cr19 Cr23 Cr22 Cr23 Cr25 Cr30 Cr28 Cr
OPM %5.9%5.9%6.2%5.5%6.1%6.1%5.8%5.1%4.9%5.1%5.2%4.9%
Other income0.84 Cr1 Cr1 Cr0.95 Cr0.70 Cr0.65 Cr1 Cr1 Cr3 Cr0.95 Cr0.57 Cr1 Cr
Interest2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr3 Cr3 Cr2 Cr2 Cr2 Cr
Depreciation6 Cr6 Cr6 Cr6 Cr6 Cr7 Cr7 Cr8 Cr9 Cr9 Cr9 Cr9 Cr
Profit before tax9 Cr8 Cr11 Cr9 Cr10 Cr10 Cr15 Cr12 Cr13 Cr13 Cr19 Cr18 Cr
Tax %25.4%27.1%23.2%25.6%25.9%26.2%24.7%25.7%25.5%26.4%28.4%25.4%
Net profit7 Cr6 Cr8 Cr7 Cr7 Cr8 Cr11 Cr9 Cr10 Cr10 Cr13 Cr13 Cr
EPS (₹)₹2.16₹1.76₹2.57₹2.11₹2.26₹1.21₹1.81₹1.46₹1.58₹1.58₹2.11₹2.10

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales933 Cr1,001 Cr904 Cr589 Cr548 Cr818 Cr1,051 Cr1,067 Cr1,289 Cr1,951 CrSign in free for the trailing twelve months
Operating expenses (approx.)896 Cr937 Cr854 Cr553 Cr521 Cr785 Cr1,005 Cr1,006 Cr1,213 Cr1,852 CrSign in free for the trailing twelve months
EBITDA36 Cr65 Cr50 Cr36 Cr27 Cr32 Cr46 Cr61 Cr75 Cr99 CrSign in free for the trailing twelve months
OPM %3.9%6.5%5.5%6.1%4.9%3.9%4.4%5.7%5.9%5.1%Sign in free for the trailing twelve months
Other income2 Cr1 Cr5 Cr2 Cr2 Cr5 Cr4 Cr5 Cr4 Cr5 CrSign in free for the trailing twelve months
Interest4 Cr3 Cr3 Cr3 Cr4 Cr4 Cr4 Cr8 Cr9 Cr10 CrSign in free for the trailing twelve months
Depreciation17 Cr19 Cr21 Cr22 Cr18 Cr18 Cr17 Cr24 Cr26 Cr35 CrSign in free for the trailing twelve months
Profit before tax17 Cr44 Cr31 Cr12 Cr7 Cr16 Cr30 Cr34 Cr44 Cr58 CrSign in free for the trailing twelve months
Tax %27.6%35.1%31.4%-2.4%27.7%25.1%27.3%25.4%25.5%26.7%Sign in free for the trailing twelve months
Net profit12 Cr28 Cr21 Cr13 Cr5 Cr12 Cr22 Cr25 Cr33 Cr42 CrSign in free for the trailing twelve months
EPS (₹)₹3.88₹8.99₹6.82₹3.99₹1.53₹3.79₹6.86₹7.98₹5.21₹6.72Sign in free for the trailing twelve months
Dividend payout %————32.7%13.2%11.7%17.5%15.4%16.4%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 capital6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr13 Cr13 Cr
Reserves56 Cr80 Cr98 Cr107 Cr110 Cr121 Cr140 Cr161 Cr182 Cr217 Cr
Borrowings50 Cr23 Cr26 Cr32 Cr30 Cr37 Cr60 Cr88 Cr80 Cr50 Cr
Other liabilities153 Cr175 Cr142 Cr97 Cr145 Cr173 Cr152 Cr250 Cr373 Cr457 Cr
Total liabilities265 Cr285 Cr273 Cr242 Cr291 Cr337 Cr358 Cr505 Cr648 Cr737 Cr
Fixed assets (net)144 Cr135 Cr151 Cr144 Cr123 Cr144 Cr192 Cr207 Cr215 Cr300 Cr
CWIP0.47 Cr13 Cr0.43 Cr22 Cr30 Cr8 Cr12 Cr49 Cr90 Cr12 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr1 Cr
Inventories15 Cr27 Cr22 Cr21 Cr30 Cr53 Cr29 Cr40 Cr55 Cr60 Cr
Trade receivables94 Cr94 Cr78 Cr36 Cr83 Cr111 Cr97 Cr103 Cr197 Cr263 Cr
Cash & bank0.27 Cr2 Cr10 Cr0.78 Cr0.72 Cr0.08 Cr0.37 Cr0.21 Cr3 Cr15 Cr
Other assets10 Cr13 Cr13 Cr19 Cr25 Cr21 Cr28 Cr106 Cr88 Cr85 Cr
Total assets265 Cr285 Cr273 Cr242 Cr291 Cr337 Cr358 Cr505 Cr648 Cr737 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 activity39 Cr69 Cr35 Cr28 Cr19 Cr16 Cr43 Cr57 Cr96 Cr107 Cr
Cash from investing-17 Cr-23 Cr-24 Cr-34 Cr-12 Cr-15 Cr-59 Cr-73 Cr-68 Cr-47 Cr
Cash from financing-22 Cr-44 Cr-4 Cr-3 Cr-7 Cr-2 Cr17 Cr16 Cr-25 Cr-47 Cr
Net cash flow0.20 Cr2 Cr7 Cr-9 Cr-0.05 Cr-0.64 Cr0.29 Cr-0.17 Cr3 Cr12 Cr
Free cash flow (OCF − Capex)22 Cr45 Cr10 Cr-6 Cr-0.15 Cr-2 Cr-18 Cr-17 Cr26 Cr56 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.9%42.5%26.2%10.7%7.5%12.1%16.1%16.2%19.2%24.2%
ROE %19.6%32.5%20.5%11.0%4.1%9.4%14.7%15.0%16.8%18.4%
Debtor days37343122554933355649
Inventory days8121116242812161913
Days payable57665957986848618770
Cash conversion cycle-12-20-17-19-199-3-9-13-8
OCF / EBITDA %106.3%106.1%69.9%77.2%69.8%48.6%92.0%93.3%127.4%107.6%
OCF / EBITDA % (3 years)——94.2%87.2%72.2%65.4%73.1%82.5%107.1%110.3%
Debt / equity0.810.270.250.280.250.290.410.530.410.22
Current ratio0.660.800.860.700.871.030.790.760.800.88
Net debt / EBITDA1.380.320.340.861.081.161.291.451.020.35