MarketFriction

Bhartiya International Ltd

NSE BIL · BSE 526666 · Leather And Leather Products
₹987.55 -0.76%
NSE close2026-10-01
52 week range602.00 - 1,150.00
Market cap₹1,344 Cr.
P/E52.5
Price band 20% Delivery 82.2%

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

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales228198180229296263241280399366313373
Expenses202184166217267246222254364337300337
Operating Profit261414122817192635291336
OPM %11%7%8%5%10%7%8%9%9%8%4.2%10%
Other Income1151211610113
Interest111011101212111213131212
Depreciation676667666674
Profit before tax10-22-41201791610-623
Tax %42%56%17%46%35%685%10%36%39%35%43%23%
Net Profit6-31-58-2156107-918
EPS in Rs4.58-2.661.16-4.446.29-1.2411.494.307.405.00-6.5513.24
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6226427117487215486947997781,0291,3581,451
Expenses5695986616886615216847127009281,2401,338
Operating Profit534449606028108778101118113
OPM %9%7%7%8%8%5%1.4%11%10%10%9%8%
Other Income-267134532527625
Interest131823352928294552566450
Depreciation66781010242526262725
Profit before tax3226262926-6-11687252943
Tax %29%31%33%33%17%5%49%9%97%37%54%
Net Profit2518172021-6-17630161326
EPS in Rs21.0915.3714.3416.2317.43-5.04-13.5451.290.1812.0610.0219.09
Dividend Payout %6%8%8%7%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%20%19%34%
Compounded Profit Growth-7%33%-40%-4%
Stock Price CAGR7%35%68%17%
Return on Equity4%4%2%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111212121212121212121313
Reserves166211254363383335328311376378436474
Borrowings204222265348383441437478501517479542
Other Liabilities9210088187140117126142123190244329
Total Liabilities4735446199109179049039431,0121,0971,1721,358
Fixed Assets67758797114125187194199179159150
CWIP6982510118801312
Investments3838431271234738654434427
Other Assets3624224816616707216697357588739661,170
Total Assets4735446199109179049039431,0121,0971,1721,358
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-21-12-2-568-7264612664419
Cash from Investing Activity-8-14-21-28-1-12-24-46-22-21-14-19
Cash from Financing Activity22234565331-3516-14-26-4520
Net Cash Flow-7-222-201012-3216-2518-1520
Free Cash Flow-33-29-24-90-3-18918-1059370
CFO/OP-29%-3%19%-101%25%-0%112%515%15%94%50%25%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days605352986064936859686773
Inventory Days204243248280327369464401423496372309
Days Payable576151122836711310174134121120
Cash Conversion Cycle207235249256304366444367408429317262
Working Capital Days446259706861134115115898381
ROCE %13%12%9%8%9%7%3%2%13%7%9%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters57.35%57.35%57.35%57.35%57.35%57.35%59.89%59.89%61.17%61.17%61.17%61.17%
FIIs8.53%8.36%8.36%8.25%8.12%8.22%7.73%7.73%7.44%7.45%7.46%7.43%
DIIs0.00%0.00%0.00%0.08%0.18%0.18%0.00%0.00%0.00%0.00%0.25%0.25%
Public34.13%34.29%34.30%34.33%34.35%34.25%32.37%32.37%31.40%31.39%31.13%31.16%
No. of Shareholders6,1576,1205,5485,3445,2144,9334,8924,8004,9244,9684,7204,799

Fundamentals

Market Cap₹ 1,344 Cr.
Current Price₹ 1,001
Stock P/E52.5
Book Value₹ 363
ROCE9.53 %
ROE2.87 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)34%
Compounded Profit Growth (TTM)-4%
Consolidated figures.
Valuation
Market capRs 1,324 Cr
Enterprise valueRs 1,764 Cr
P/E (TTM)51.71x
Price to book2.72x
Price to sales0.91x
EV / EBITDA14.95x
EV / EBIT18.89x
EV / sales1.22x
Price to cash flow68.69x
Earnings yield1.93%
P/E, 3-year average515.53x
P/B, 3-year average1.31x
P/E, 5-year average387.48x
P/B, 5-year average1.08x
Profitability
Operating margin (excl. other income)8.66%
Operating margin (incl. other income)8.84%
EBITDA margin8.13%
Pre-tax margin2.99%
Net profit margin1.77%
Net margin, latest quarter4.76%
ROE2.87%
ROCE9.53%
ROA1.06%
ROE, 3-year average2.22%
ROCE, 3-year average8.33%
ROA, 3-year average0.82%
ROE, 5-year average3.86%
ROCE, 5-year average8.13%
ROA, 5-year average1.42%
ROIC (approx.)4.67%
Tax rate53.69%
Other income / net worth0.49%
Growth
Sales growth (latest year)31.94%
Profit growth (latest year)-14.18%
Sales CAGR, 3 years19.36%
Sales CAGR, 5 years19.88%
Profit CAGR, 3 years-40.12%
Sales growth QoQ19.22%
Sales growth YoY (latest quarter)33.16%
Profit growth YoY (latest quarter)218.28%
Per share
EPS (TTM)Rs 19.10
EPS (latest year)Rs 10.02
EPS (latest quarter)Rs 13.24
EPS, 3-year averageRs 7.42
EPS, 5-year averageRs 12.00
Book value per shareRs 363.38
Sales per shareRs 1,081.88
Cash flow per shareRs 14.38
Free cash flow per shareRs 0.00
Efficiency
Asset turnover1.00x
Fixed asset turnover9.07x
Inventory turnover1.52x
Inventory days241 days
Debtor days73 days
Debtors turnover4.98x
Creditor days120 days
Cash conversion cycle262 days
Working capital days81 days
Leverage
Total debtRs 542 Cr
Cash and bankRs 103 Cr
Net debtRs 439 Cr
Debt to equity1.11x
Net debt / EBITDA3.72x
Interest coverage1.87x
Current ratio (filing 2026-03-31)1.54x
Quick ratio (filing 2026-03-31)0.63x
Trade payables (filing 2026-03-31)Rs 268 Cr
Owners' fund to total sources35.88%
Debt to assets39.90%
Cash flow
Cash from Operating Activity (latest year)Rs 19 Cr
Cash from Investing Activity (latest year)Rs -19 Cr
Cash from Financing Activity (latest year)Rs 20 Cr
Net Cash Flow (latest year)Rs 20 Cr
Free cash flow (latest year)Rs 0 Cr
FCFE (approx.: FCF + change in debt)Rs 63 Cr
Cash from ops / profit, 5 years2.49x
Sales to cash flow70.44x
Statement figures
Net sales (TTM)Rs 1,451 Cr
Net sales (latest year)Rs 1,358 Cr
Sales (latest quarter)Rs 373 Cr
Operating profit excl. other income (latest year)Rs 118 Cr
Operating profit (latest quarter)Rs 36 Cr
Other income (TTM)Rs 5 Cr
EBITDA (TTM)Rs 118 Cr
PBDT (TTM)Rs 68 Cr
Profit before tax (TTM)Rs 43 Cr
Tax (latest year)Rs 16 Cr
Net profit (TTM)Rs 26 Cr
Net profit (latest year)Rs 13 Cr
Net profit (latest quarter)Rs 18 Cr
Depreciation (TTM)Rs 25 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 50 Cr
Cost of goods sold (latest year)Rs 1,044 Cr
Total expenditure (latest year)Rs 1,240 Cr
Total income (latest year)Rs 1,360 Cr
Share capitalRs 13 Cr
ReservesRs 474 Cr
Shareholders' fundsRs 487 Cr
Total assetsRs 1,358 Cr
Net blockRs 150 Cr
Capital work in progressRs 12 Cr
InvestmentsRs 27 Cr
ReceivablesRs 273 Cr
InventoryRs 688 Cr
Other liabilitiesRs 329 Cr
Shares outstanding (crore)1.34
Ownership
Promoter holding61.17% (+1.28 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 51.7 is at the 88th percentile of its own 6.7-year range (median 18.5, low 4.3, high 305.1).
P/B 2.72 is at the 91th percentile (median 0.99).
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.
PeriodBILNifty 50Difference
1 week-2.2%-2.8% +0.5 pts
1 month+11.5%-6.8% +18.3 pts
3 months+25.8%-7.6% +33.4 pts
6 months+49.9%+0.4% +49.5 pts
1 year+13.5%-9.9% +23.4 pts
2 years+60.1%-13.6% +73.7 pts
3 years+369.6%+14.2% +355.4 pts
5 years+344.7%+27.9% +316.9 pts

Red flags

F-score 5 of 8
explainLow interest cover Interest cover 1.5x 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 ₹373 Cr +33.2% vs Jun 2025. Net profit ₹18 Cr +200.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-20Annual General Meeting
2023-09-22Annual General Meeting
2022-09-21Annual General Meeting
2021-09-21 Annual General Meeting
2020-09-21 Annual General Meeting
2019-09-18 Annual General Meeting/Dividend - Rs 1.20 Per Share
2018-09-19 Annual General Meeting/Dividend Rs 1.20 Per Share
2017-09-19 Annual General Meeting/Dividend - Rs 1.20 Per Share
2016-09-21 Annual General Meeting/Dividend - Rs 1.20 Per Share
2015-09-11 Annual General Meeting/ Dividend Re 1/- Per Share
2014-08-27Annual General Meeting/Dividend Re 1/- Per Share
2013-09-12Annual General Meeting / Dividend - Re 1/- Per Share
2012-09-20Annual General Meeting/Dividend Re 1 Per Share
2011-09-15Dividend-Re.1/- Per Share
2010-09-16Dividend-Rs.1/- Per Share
2009-09-17Dividend-Re.1/- Per Share
2008-09-11Agm/Dividend - 15%
2007-09-13Dividend-15%
2006-09-14Agm/Dividend-15%
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results of Annual General Meeting held on September 28, 2026
2026-09-29Shareholder meetingBhartiya International Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 28, 2026
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-02UpdatesINTIMATION OF SCHEDULE OF ANNUAL GENERAL MEETING (AGM), BOOK CLOSURE FOR AGM.
2026-09-02General UpdatesGeneral Updates
2026-09-02UpdatesWhose e-mail addresses are not registered with Company/Registrar & Transfer Agent/Depository Participants.
2026-09-02Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-08-13UpdatesBoard presentation on Unaudited Financial Results for Quarter ending June, 2026.
2026-08-13Board meeting outcomeBhartiya International Limited has submitted to the Exchange, the unaudited financial results for the period ended Jun 30, 2026.
2026-07-06UpdatesINTIMATION UNDER REGULATION 30 READ WITH SCHEDULE III OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015.
2026-05-29Change in ManagementChange in Management
2026-05-29Board meeting outcomeBhartiya International Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-19Disclosure under SEBI TakeovSnehdeep Aggarwal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-05-19Disclosure under SEBI TakeovSnehdeep Aggarwal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-04-06AppointmentAppointment of G N V Babu as Other of the company w.e.f. April 06, 2026.
2026-02-21Credit Rating- RevisionCredit Rating- Revision
2026-02-11Board meeting outcomeBhartiya International Limited has submitted to the Exchange, the Unaudited financial results for the period ended December 31, 2025.
2026-01-17IncorporationIncorporation-Update
2026-01-15IncorporationIncorporation of 1 (one) overseas Step Down Wholly Owned Subsidiaries of the Company through Ultima SA, a Wholly Owned Subsidiary of the Company.
2025-12-22Disclosure under SEBI TakeovSnehdeep Aggarwal has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition ma...
2025-12-08Disclosure under SEBI TakeovSnehdeep Aggarwal has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantia...
2025-12-05UpdatesIntimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- General- Name change of Statutory Auditor ...
2025-11-06Board meeting outcomeBhartiya International Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-11-06Board meeting outcomeBoard meeting held on November 06, 2025 to consider and approve Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter...
2025-11-03General UpdatesGeneral Updates Intimation For Appointment Of Senior Management Personnel
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.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Bhartiya International Ltd?

Bhartiya International Ltd (BIL) has a market capitalisation of Rs 1,344 Cr. at the 2026-10-01 close.

What is the P/E ratio of Bhartiya International Ltd?

Bhartiya International Ltd trades at a P/E of 52.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Bhartiya International Ltd's latest quarterly results?

In the Jun 2026 quarter, Bhartiya International Ltd sales was Rs 373 Cr (+33.2% vs Jun 2025) and net profit was Rs 18 Cr.

What is the 52-week high and low of Bhartiya International Ltd?

The 52-week high is Rs 1,150.00 and the 52-week low is Rs 602.00.

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