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Bharat Gears Limited

Bharat Gears Limited

BHARATGEAR.BO
Bharat Gears LimitedIN flagBombay Stock Exchange
124.45
INR
+2.35
- -
1.89BMarket Cap
Bharat Gears Limited
BHARATGEAR.BO
(Bombay Stock Exchange)

Recent

price

124.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
261.99
336.7
307.04
328.35
324.46
310.75
310.2
379.8
437.81
315.19
341.45
485.21
486.69
419.99
422.47
510.77
510.89
Revenue per Share
7.6
14.44
3.88
0.47
-3.29
0.19
-1.14
4.85
9.54
-13.1
-5.35
17.62
8.78
-6.34
2.08
10.75
10.75
Basic EPS, GAAP
2.87
20
20.25
21.01
15.38
12.25
11.29
-11.75
-4.23
16.1
38.17
17.4
10.39
20.91
22.85
12.04
- -
Free Cash Flow per Basic Share
1.06
1
1.08
1.08
0.6
0.01
0.01
0.05
- -
0.66
0.02
0.02
- -
- -
- -
- -
- -
Dividend per Share
18.59
28.56
30.58
30.33
26.28
26.47
25.48
30.9
40.12
23.71
18.27
36.17
46.66
40.32
42.47
10
10
Book Value per Share
45.74
56.57
59.21
58.22
53.82
51.84
51.07
59.07
66.22
54.63
50.59
73.22
78.02
71.6
72.89
84.63
84.65
Tangible Book Value per Share
13
13
13
13
13
13
13
13
13
14
14
15
15
15
15
15
15
Basic Weighted Avg Shares
3,350
4,306
3,926
4,199
4,149
3,974
3,967
4,939
5,752
4,517
4,910
7,115
7,473
6,449
6,475
7,842
7,842
Sales/Revenue/Turnover
6.76
9.04
4.18
2.81
1.9
3.8
2.9
4.99
6.43
-1.77
2.39
6.38
3.49
0.18
0.26
3.79
3.79
Operating Margin (%)
91
108
116
137
140
165
167
183
218
267
241
204
201
226
236
226
226
Depreciation Expense
97
186
50
6
-42
2
-15
63
125
-188
-77
258
135
-97
32
165
165
Net Income, GAAP
32.82
30.53
33.3
0.44
- -
54.32
- -
31.81
35.58
- -
- -
24.15
23.37
- -
18.96
25.05
25.05
Effective Tax Rate (%)
2.9
4.32
1.26
0.14
-1.01
0.06
-0.37
1.28
2.18
-4.16
-1.57
3.63
1.8
-1.51
0.49
2.1
2.1
Profit Margin (%)
15
107
47
82
-31
96
67
498
254
221
197
663
782
476
376
493
493
Working Capital
201
261
346
615
489
512
373
787
813
849
716
654
811
677
477
281
281
LT Debt
591
730
763
758
707
677
665
778
885
796
738
1,082
1,206
1,106
1,129
1,312
1,312
Total Equity
14.06
23.41
8.13
7.64
- -
4.11
- -
8.53
10.17
- -
- -
16.76
8.83
- -
0.65
11.17
11.17
Return on Invested Capital (%)
13.16
34.45
13.03
12.87
- -
4.98
- -
9.85
12.89
- -
- -
24.8
14.07
- -
10.64
23.18
23.18
Return on Capital (%)
45.69
61.28
13.14
1.53
-11.62
0.71
-4.4
17.32
26.98
-43.32
-25.56
65.15
21.63
-14.58
5.02
41.03
41.03
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
408
- -
447
LT Borrowings
251
- -
172
LT Finance Leases
127
- -
109
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
15
- -
15
Market Capitalization
1,942
1,698
1,320

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
2,592
- -
2,597
Cash, Cash Equivalents & STI
139
- -
93
Accounts Receivable, Net
1,133
- -
1,138
Inventories
1,053
- -
1,012
Total Current Liabilities
2,156
- -
2,104
Payables & Accruals
- -
- -
- -
ST Debt
408
- -
447
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.97%
13.61%
16.21%
Free Cash Flow
-68.24%
-5.58%
-47.21%
Net Income, GAAP
-182.19%
-74.13%
417.68%
Sales/Revenue/Turnover
8.58%
11.55%
21.1%
Total Cash Common Dividend
- -
- -
1,400%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,705
1,790
1,428
1,526
6,449
2025
1,660
1,646
1,421
1,749
6,475
2026
1,798
2,047
1,893
2,103
7,842

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.49
-1.13
-3.59
- -
-6.34
2025
-1.18
8.84
-6.7
1.12
2.08
2026
1.07
4.7
1.68
3.3
10.75

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Bharat Gears Limited manufactures automotive transmission components including ring gears and pinions such as hypoid and spiral types, transmission gears and shafts, differential gears and crosses, bevel gears, synchromesh gearboxes under license from ZF Friedrichshafen AG, and sub-assemblies for tractors, construction equipment, commercial vehicles, utility vehicles, cars, agriculture, utilities, and electric vehicles; the company also produces heat treatment furnaces including endothermic gas generators and sealed quench furnaces, and supplies automotive components comprising clutches, turbochargers, driveline products, axle shafts, flywheel assemblies, propeller shaft components, steering components, differential cages, and steel wheel rims. Bharat Gears operates manufacturing facilities in Mumbra near Mumbai, Faridabad near Delhi, and Lonand near Pune, with exports to Europe, the United States, Mexico, Asia, and other international markets serving original equipment manufacturers such as John Deere, Eaton, Carraro, Escorts Kubota, Dana, CNH, JCB, Schaeffler, Toyota, Parker, and Mahindra & Mahindra. Incorporated on December 23, 1971 as a public limited company and headquartered at 20 K.M. Mathura Road, Faridabad, Haryana, the company maintains certifications including IATF-16949, ISO-9001, ISO-14001, and ISO-45001 across its plants and benefits from a strategic technical partnership with ZF Friedrichshafen AG, which holds a 25.99% stake. Recent developments include a stellar financial turnaround in Q2 FY26 with a 337% profit surge, record quarterly revenue of Rs 204.74 crores, and operating margin expansion to 8.32%, alongside strong sequential sales growth and new partnerships with key OEMs in FY 2024-25 as highlighted in its annual report.