Bajaj Steel Industries Ltd

₹ 385 1.66%

04 Jun 1:40 p.m.

About

Incorporated in 1961, Bajaj Steel Industries
Ltd manufactures Cotton ginning and Pressing Machineries, Pre fabricated building structure, components and allied products^[1]

Key Points

Business Overview:^[1]
BSIL is an ISO certified company, uniquely producing machinery for all cotton ginning technologies (Double Roller, Saw Gin, and Rotobar) and all pressing technologies, as well as seed cleaning, delinting, and decorticating. It also engages in general engineering fabrication, machining, intelligent electrical panel manufacturing, and various other engineering activities.

Website BSE NSE

Market Cap ₹ 801 Cr.
Current Price ₹ 385
High / Low ₹ 770 / 302
Stock P/E 29.0
Book Value ₹ 189
Dividend Yield 0.26 %
ROCE 9.75 %
ROE 7.26 %
Face Value ₹ 5.00

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Pros

Cons

The company has delivered a poor sales growth of -0.32% over past five years.
Company has a low return on equity of 13.5% over last 3 years.
Dividend payout has been low at 4.52% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE Industrials

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	108.52	76.37	128.00	122.99	166.35	115.26	137.69	130.96	150.75	92.95	150.46	117.96	113.52
	90.87	67.66	111.21	107.77	141.27	100.15	116.35	111.17	124.47	82.61	126.95	107.64	108.56
Operating Profit	17.65	8.71	16.79	15.22	25.08	15.11	21.34	19.79	26.28	10.34	23.51	10.32	4.96
OPM %	16.26%	11.41%	13.12%	12.37%	15.08%	13.11%	15.50%	15.11%	17.43%	11.12%	15.63%	8.75%	4.37%
	14.95	1.25	0.64	1.26	11.51	27.71	1.36	1.42	6.39	1.22	1.26	3.64	5.03
Interest	2.70	0.59	0.65	0.95	2.45	1.01	0.85	0.94	1.39	1.29	1.33	1.36	1.10
Depreciation	3.24	2.29	2.29	2.29	4.63	2.86	2.86	2.88	5.84	3.61	3.61	3.66	6.15
Profit before tax	26.66	7.08	14.49	13.24	29.51	38.95	18.99	17.39	25.44	6.66	19.83	8.94	2.74
Tax %	40.21%	24.86%	25.12%	25.53%	27.28%	25.13%	24.91%	25.53%	22.29%	25.08%	25.26%	24.94%	61.31%
	15.93	5.33	10.86	9.86	21.46	29.16	14.26	12.95	19.77	4.98	14.82	6.71	1.07
EPS in Rs	7.66	2.56	5.22	4.74	10.32	14.02	6.86	6.23	9.50	2.39	7.12	3.23	0.51
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	333	283	211	234	332	390	482	412	489	494	535	475
	312	270	211	215	305	354	397	365	411	428	452	426
Operating Profit	21	12	1	19	28	35	86	47	78	65	83	49
OPM %	6%	4%	0%	8%	8%	9%	18%	11%	16%	13%	15%	10%
	4	5	2	4	3	7	8	13	19	14	37	11
Interest	9	9	9	9	10	9	9	8	7	4	4	5
Depreciation	12	11	8	6	4	6	7	9	10	11	14	17
Profit before tax	4	-3	-14	8	17	27	78	43	80	64	101	38
Tax %	46%	-31%	-27%	-11%	52%	29%	25%	25%	29%	26%	24%	28%
	2	-2	-10	9	8	19	59	32	57	48	76	28
EPS in Rs	1.08	-1.01	-5.49	4.87	4.38	10.19	28.28	15.60	27.35	22.84	36.61	13.26
Dividend Payout %	46%	0%	0%	8%	11%	5%	3%	3%	3%	3%	3%	8%

Compounded Sales Growth
10 Years:	5%
5 Years:	0%
3 Years:	-1%
TTM:	-11%

Compounded Profit Growth
10 Years:	29%
5 Years:	-14%
3 Years:	-18%
TTM:	-51%

Stock Price CAGR
10 Years:	36%
5 Years:	20%
3 Years:	5%
1 Year:	-50%

Return on Equity
10 Years:	17%
5 Years:	16%
3 Years:	13%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2	2	2	2	2	2	3	3	3	3	10	10
Reserves	70	68	60	69	76	94	157	188	244	290	356	382
	84	80	79	81	75	70	58	64	43	63	65	62
	79	84	64	60	95	91	135	102	101	147	128	199
Total Liabilities	236	235	205	212	249	257	352	357	390	503	560	654
	53	49	43	50	50	70	77	83	107	179	210	200
CWIP	8	12	13	2	4	1	4	14	23	9	19	27
Investments	13	14	13	11	11	11	14	14	15	15	10	10
	163	161	136	149	184	175	257	246	244	299	321	417
Total Assets	236	235	205	212	249	257	352	357	390	503	560	654

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1	6	-2	2	15	39	84	41	16	42	50	75
	-17	-11	-1	2	-7	-20	-10	-20	-34	-65	-45	-56
	14	-3	1	0	-5	-8	-19	4	-22	19	0	-5
Net Cash Flow	-5	-7	-2	4	3	12	54	26	-40	-4	5	14
Free Cash Flow	-16	-5	-6	0	7	22	77	18	-19	-28	-4	20
CFO/OP	11%	55%	-272%	7%	69%	127%	118%	114%	48%	86%	92%	176%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	55	62	71	79	57	47	49	19	26	39	31	43
Inventory Days	113	144	141	123	138	105	110	120	137	173	192	253
Days Payable	72	106	86	76	75	86	115	77	103	116	95	140
Cash Conversion Cycle	96	100	126	127	120	66	44	62	60	96	129	156
Working Capital Days	10	22	16	20	24	19	13	1	31	34	58	38
ROCE %	8%	4%	-3%	12%	18%	23%	44%	22%	28%	21%	20%	10%

Insights

In beta

Mar 2015

Mar 2016

Mar 2018

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Revenue from Cotton Processing Machinery
INR Crores

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Export Revenue Share
%

Revenue from Infrastructure (PEB)
INR Crores

Domestic Cotton Ginning Market Share
%

Infrastructure (PEB) Installed Capacity
MTPA

Global Cotton Ginning Market Share
%

Number of Manufacturing Units
Units

Aerobridges Delivered
Units

Heavy Engineering Capacity
MT

Total Order Book
INR Crores

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	47.69%	47.69%	47.77%	48.39%	48.27%	48.27%	48.27%	48.27%	48.27%	48.27%	56.62%	56.62%
	0.07%	0.07%	0.07%	0.07%	0.07%	0.16%	0.08%	0.07%	0.15%	0.06%	0.04%	0.04%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.01%	0.01%	0.01%	0.01%
	52.24%	52.25%	52.17%	51.54%	51.67%	51.57%	51.64%	51.58%	51.59%	51.66%	43.34%	43.34%
No. of Shareholders	12,475	13,050	12,565	14,075	12,933	13,223	23,517	23,751	23,466	24,029	24,148	23,738

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36.62%	36.55%	36.64%	36.64%	42.74%	42.73%	47.69%	48.39%	48.27%	56.62%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.07%	0.07%	0.04%
	0.02%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.01%
	63.36%	63.43%	63.34%	63.35%	57.26%	57.27%	52.25%	51.54%	51.58%	43.34%
No. of Shareholders	3,988	3,876	4,099	3,896	6,744	15,310	12,425	14,075	23,751	23,738

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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