MarketFriction

Banaras Beads Ltd

NSE BANARBEADS · BSE 526849 · Gems, Jewellery And Watches
₹116.00 -3.93%
NSE close2026-10-01
52 week range96.05 - 164.70
Market cap₹76.2 Cr.
P/E40.3
Price band 20% Delivery 64.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9.523.808.697.0811.555.747.206.215.057.726.519.06
Expenses8.333.388.146.519.784.926.245.294.746.644.807.70
Operating Profit1.190.420.550.571.770.820.960.920.311.081.711.36
OPM %12.50%11.05%6.33%8.05%15.32%14.29%13.33%14.81%6.14%13.99%26.27%15.01%
Other Income0.540.590.780.530.510.470.480.390.340.430.460.30
Interest0.020.050.060.120.160.180.200.150.190.301.170.34
Depreciation0.310.310.220.260.260.510.360.360.410.430.360.35
Profit before tax1.400.651.050.721.860.600.880.800.050.780.640.97
Tax %22.86%30.77%26.67%25.00%25.27%16.67%25.00%23.75%20.00%25.64%14.06%25.77%
Net Profit1.080.450.770.541.390.500.660.610.040.580.550.72
EPS in Rs1.630.681.160.812.090.750.990.920.060.870.831.08
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales24.7427.3223.7817.3125.7820.4725.1226.9728.2231.5625.4928.34
Expenses21.9823.5820.5014.7421.9117.1221.9723.3325.5827.4321.4723.88
Operating Profit2.763.743.282.573.873.353.153.642.644.134.024.46
OPM %11.16%13.69%13.79%14.85%15.01%16.37%12.54%13.50%9.36%13.09%15.77%15.74%
Other Income6.301.320.960.840.821.482.191.802.451.991.621.53
Interest0.670.150.080.300.110.200.250.790.260.671.802.00
Depreciation2.132.101.841.521.351.461.281.231.151.391.571.55
Profit before tax6.262.812.321.593.233.173.813.423.684.062.272.44
Tax %30.99%40.57%40.52%27.67%27.55%24.61%23.36%25.44%25.27%23.89%21.59%
Net Profit4.321.671.381.162.342.392.922.542.753.091.771.89
EPS in Rs6.512.522.081.753.533.604.403.834.144.662.672.84
Dividend Payout %38.25%39.58%0.00%0.00%0.00%0.00%45.27%52.05%48.07%48.13%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth0%4%-2%-8%
Compounded Profit Growth6%-5%-11%-40%
Stock Price CAGR11%13%9%-12%
Return on Equity4%5%5%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital6.616.616.616.616.616.616.616.616.616.616.616.60
Reserves33.2535.5737.0137.6038.7541.0543.4345.0246.2247.6349.2351.05
Borrowings14.945.091.101.900.840.004.335.800.293.298.5820.53
Other Liabilities3.865.213.072.741.912.161.722.342.792.282.212.37
Total Liabilities58.6652.4847.7948.8548.1149.8256.0959.7755.9159.8166.6380.55
Fixed Assets14.1313.7812.6111.269.8019.3518.168.628.758.4410.1716.65
CWIP0.000.000.008.849.040.000.000.380.250.450.000.00
Investments6.193.673.193.123.154.893.123.133.043.032.982.98
Other Assets38.3435.0331.9925.6326.1225.5834.8147.6443.8747.8953.4860.92
Total Assets58.6652.4847.7948.8548.1149.8256.0959.7755.9159.8166.6380.55
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1.002.725.494.430.333.64-9.31-4.00-4.45-3.474.97-4.68
Cash from Investing Activity-7.343.790.72-8.370.51-2.852.8910.060.9512.94-17.14-2.97
Cash from Financing Activity12.87-12.96-4.060.08-1.14-0.904.27-0.10-7.621.423.1410.16
Net Cash Flow6.53-6.452.15-3.86-0.30-0.11-2.155.97-11.1210.88-9.022.51
Free Cash Flow-1.330.964.57-4.900.071.77-9.584.40-5.67-4.492.32-12.72
CFO/OP47%147%188%169%32%118%-254%-98%-98%-94%145%-103%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days8.5219.779.6212.1314.764.1147.7966.6983.9186.4058.98118.56
Inventory Days550.47468.58317.59442.72857.06482.69
Days Payable11.4631.5723.0110.7016.825.54
Cash Conversion Cycle547.53456.78304.20444.15855.01481.2547.7966.6983.9186.4058.98118.56
Working Capital Days9.91186.93198.93186.49311.86211.38335.40297.87370.95385.18262.76341.95
ROCE %5.96%4.21%6.26%5.26%4.09%7.31%6.23%6.28%7.62%7.09%7.76%5.71%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.48%58.48%
FIIs0.00%0.00%0.00%0.00%0.00%0.04%0.04%0.04%0.00%0.00%0.00%0.00%
Public41.85%41.85%41.84%41.85%41.85%41.81%41.81%41.80%41.86%41.84%41.51%41.50%
No. of Shareholders6,5386,5926,8066,6646,9027,5027,1597,0087,1566,5216,0245,978

Fundamentals

Market Cap₹ 76.2 Cr.
Current Price₹ 115
Stock P/E40.3
Book Value₹ 86.9
ROCE5.71 %
ROE3.12 %
Dividend Yield1.96 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-8%
Compounded Profit Growth (TTM)-40%
Standalone figures.
Valuation
Market capRs 77 Cr
Enterprise valueRs 92 Cr
P/E (TTM)40.49x
Price to book1.33x
Price to sales2.70x
EV / EBITDA15.29x
EV / EBIT20.63x
EV / sales3.23x
Earnings yield2.47%
P/E, 3-year average28.41x
P/B, 3-year average1.23x
P/E, 5-year average25.28x
P/B, 5-year average1.17x
Profitability
Operating margin (excl. other income)15.77%
Operating margin (incl. other income)22.13%
EBITDA margin21.14%
Pre-tax margin8.61%
Net profit margin6.67%
Net margin, latest quarter7.95%
ROE3.12%
ROCE5.71%
ROA2.41%
ROE, 3-year average4.62%
ROCE, 3-year average6.86%
ROA, 3-year average4.02%
ROE, 5-year average4.90%
ROCE, 5-year average7.09%
ROA, 5-year average4.30%
ROIC (approx.)4.79%
Tax rate21.59%
Other income / net worth2.81%
Growth
Sales growth (latest year)-19.23%
Profit growth (latest year)-42.72%
Sales CAGR, 3 years-1.86%
Sales CAGR, 5 years4.48%
Profit CAGR, 3 years-11.34%
Profit CAGR, 5 years-5.83%
Sales growth QoQ39.17%
Profit growth QoQ30.91%
Sales growth YoY (latest quarter)45.89%
Profit growth YoY (latest quarter)18.03%
Per share
EPS (TTM)Rs 2.86
EPS (latest year)Rs 2.68
EPS (latest quarter)Rs 1.09
EPS, 3-year averageRs 3.84
EPS, 5-year averageRs 3.95
Book value per shareRs 87.38
Sales per shareRs 42.96
Cash flow per shareRs -7.09
Free cash flow per shareRs -19.28
Dividend per share, 3-year averageRs 2.12
Dividend per share, 5-year averageRs 2.06
Dividends
Dividend payout, 3-year average48.11%
Dividend payout, 5-year average48.35%
Efficiency
Asset turnover0.32x
Fixed asset turnover1.53x
Inventory turnover0.31x
Inventory days1175 days
Debtor days119 days
Debtors turnover3.08x
Creditor days6 days
Cash conversion cycle119 days
Working capital days342 days
Leverage
Total debtRs 21 Cr
Cash and bankRs 5 Cr
Net debtRs 15 Cr
Debt to equity0.36x
Net debt / EBITDA2.51x
Interest coverage2.22x
Owners' fund to total sources71.57%
Debt to assets25.49%
Cash flow
Cash from Operating Activity (latest year)Rs -5 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs 10 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -13 Cr
FCFE (approx.: FCF + change in debt)Rs -1 Cr
Cash from ops / profit, 5 years-0.89x
Statement figures
Net sales (TTM)Rs 28 Cr
Net sales (latest year)Rs 25 Cr
Sales (latest quarter)Rs 9 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 6 Cr
PBDT (TTM)Rs 4 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 10 Cr
Total expenditure (latest year)Rs 21 Cr
Total income (latest year)Rs 27 Cr
Share capitalRs 7 Cr
ReservesRs 51 Cr
Shareholders' fundsRs 58 Cr
Total assetsRs 81 Cr
Net blockRs 17 Cr
InvestmentsRs 3 Cr
ReceivablesRs 8 Cr
InventoryRs 32 Cr
Other liabilitiesRs 2 Cr
Shares outstanding (crore)0.66
Ownership
Promoter holding58.48% (+0.34 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 40.5 is at the 94th percentile of its own 9.4-year range (median 23.3, low 11.6, high 47.6).
P/B 1.33 is at the 81th percentile (median 1.01).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBANARBEADSNifty 50Difference
1 week+0.1%-2.8% +2.9 pts
1 month-0.3%-6.8% +6.4 pts
3 months+14.9%-7.6% +22.6 pts
6 months+13.4%+0.4% +13.0 pts
1 year-3.7%-9.9% +6.2 pts
2 years+16.5%-13.6% +30.0 pts
3 years+28.8%+14.2% +14.6 pts
5 years+83.1%+27.9% +55.2 pts

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was -42% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 62% vs sales -19% in 2026
explainDebt up, profit down Borrowings up 139% while net profit fell in 2026
lookInventory outrunning sales Inventory grew 20% vs sales -19% in 2026
lookProfit leans on other income Other income was 71% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹9 Cr +45.9% vs Jun 2025. Net profit ₹1 Cr +18.0%.
Against our estimate for Jun 2026: sales +29.7%, profit +29.2% in line. Our estimate for Sep 2026: sales Rs 6 Cr, profit Rs 0 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-02-07Interim Dividend - Rs 2.25 Per Share
2024-07-25Annual General Meeting
2024-02-12Interim Dividend - Rs 2 Per Share
2023-07-07Annual General Meeting
2023-01-30Interim Dividend - Rs 2 Per Share
2022-08-10Annual General Meeting
2021-11-11 Interim Dividend - Rs 2 Per Share
2021-07-19 Annual General Meeting
2020-09-02 Annual General Meeting
2019-07-31 Annual General Meeting
2018-08-08 Annual General Meeting
2017-09-20 Annual General Meeting/ Dividend -Re 1/- Per Share
2016-07-27 Annual General Meeting
2016-03-16 Interim Dividend - Rs 2.50 Per Share (Purpose Revised)
2015-08-05Annual General Meeting/ Dividend - Re 1/- Per Share
2014-06-27Annual General Meeting/Dividend - Rs.2/- Per Share
2013-06-27Annual General Meeting
2013-02-04Interim Dividend Rs 2.50 Per Share (Purpose Revised)
2012-06-28Annual General Meeting/Dividend Rs 1.50 Per Share
2011-09-14Interim Dividend Rs.2.50 Per Share (Purpose Revised)
2011-07-20Annual General Meeting
2010-07-20Annual General Meeting
2009-08-12Annual General Meeting
2008-09-11Annual General Meeting
2007-12-13Annual General Meeting
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-13NCLTRaj Kumar Gupta & Ors Vs Banaras Beads Limited and Ors
2021-03-04NCLTRaj Kumar Gupta & Ors Vs Banaras Beads Limited and Ors
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Banaras Beads Ltd?

Banaras Beads Ltd (BANARBEADS) has a market capitalisation of Rs 76.2 Cr. at the 2026-10-01 close.

What is the P/E ratio of Banaras Beads Ltd?

Banaras Beads Ltd trades at a P/E of 40.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Banaras Beads Ltd's latest quarterly results?

In the Jun 2026 quarter, Banaras Beads Ltd sales was Rs 9 Cr (+45.9% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Banaras Beads Ltd?

The 52-week high is Rs 164.70 and the 52-week low is Rs 96.05.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03