Bajaj Steel Industries Ltd

₹ 368 -9.64%

27 May - close price

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 ₹ 762 Cr.
Current Price ₹ 368
High / Low ₹ 795 / 302
Stock P/E 20.6
Book Value ₹ 204
Dividend Yield 0.27 %
ROCE 11.7 %
ROE 9.10 %
Face Value ₹ 5.00

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Pros

Cons

The company has delivered a poor sales growth of 0.53% over past five years.
Dividend payout has been low at 3.58% 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	121.14	98.01	153.20	125.86	173.89	141.01	152.22	138.05	153.50	107.53	174.62	125.27	116.76
	101.64	83.55	128.13	109.18	147.96	119.16	126.92	117.27	129.32	93.98	142.83	115.96	111.14
Operating Profit	19.50	14.46	25.07	16.68	25.93	21.85	25.30	20.78	24.18	13.55	31.79	9.31	5.62
OPM %	16.10%	14.75%	16.36%	13.25%	14.91%	15.50%	16.62%	15.05%	15.75%	12.60%	18.21%	7.43%	4.81%
	14.94	1.36	0.79	1.27	12.23	29.06	1.75	1.65	6.49	1.40	1.55	3.82	5.59
Interest	2.70	0.70	0.65	1.20	2.45	1.01	0.85	0.94	1.39	1.29	1.33	1.36	1.10
Depreciation	3.39	2.35	2.39	3.45	4.78	2.95	2.95	3.01	6.03	3.73	3.73	3.78	6.30
Profit before tax	28.35	12.77	22.82	13.30	30.93	46.95	23.25	18.48	23.25	9.93	28.28	7.99	3.81
Tax %	39.72%	25.29%	25.50%	24.44%	27.09%	25.18%	24.99%	25.81%	22.37%	25.48%	24.75%	26.03%	39.11%
	17.09	9.54	17.01	10.05	22.55	35.13	17.43	13.71	18.06	7.40	21.28	5.91	2.32
EPS in Rs	8.22	4.59	8.18	4.83	10.84	16.89	8.38	6.59	8.68	3.56	10.23	2.84	1.12
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	334	307	237	247	376	414	510	437	549	551	585	524
	316	297	235	226	345	376	418	385	457	470	492	464
Operating Profit	17	10	2	22	31	38	93	52	92	81	93	60
OPM %	5%	3%	1%	9%	8%	9%	18%	12%	17%	15%	16%	12%
	4	7	2	4	5	9	10	13	19	15	39	12
Interest	9	9	9	9	10	9	9	8	7	5	5	5
Depreciation	13	11	8	6	4	6	7	9	10	12	15	18
Profit before tax	1	-4	-13	10	23	32	87	49	94	80	112	50
Tax %	240%	-23%	-25%	-9%	40%	25%	25%	25%	28%	26%	25%	26%
	-1	-3	-10	11	14	24	66	36	68	59	84	37
EPS in Rs	-0.54	-1.53	-5.34	6.09	7.29	12.57	31.54	17.54	32.45	28.38	40.54	17.75
Dividend Payout %	-93%	0%	0%	6%	7%	4%	2%	3%	2%	3%	2%	6%

Compounded Sales Growth
10 Years:	6%
5 Years:	1%
3 Years:	-2%
TTM:	-10%

Compounded Profit Growth
10 Years:	29%
5 Years:	-10%
3 Years:	-15%
TTM:	-43%

Stock Price CAGR
10 Years:	34%
5 Years:	21%
3 Years:	4%
1 Year:	-48%

Return on Equity
10 Years:	19%
5 Years:	17%
3 Years:	15%
Last Year:	9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	65	62	54	66	78	100	169	204	271	330	377	414
	84	81	81	81	75	70	58	64	43	64	65	63
	83	97	73	73	104	97	139	124	129	168	151	213
Total Liabilities	234	242	210	223	260	269	369	395	446	564	604	699
	54	52	45	51	52	72	80	86	111	185	218	211
CWIP	8	11	13	2	4	1	4	14	24	10	19	27
Investments	5	4	2	1	1	0	4	4	22	22	9	12
	168	175	150	168	204	196	281	291	289	347	358	449
Total Assets	234	242	210	223	260	269	369	395	446	564	604	699

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-5	10	-7	6	14	41	89	55	27	55	52
	-14	-10	-0	2	-7	-21	-12	-20	-52	-66	-38
	14	-2	1	0	-5	-8	-19	4	-22	19	-26
Net Cash Flow	-5	-2	-7	9	2	12	59	39	-47	8	-12
Free Cash Flow	-20	-2	-11	4	6	24	73	30	-12	-17	-4
CFO/OP	-7%	109%	-312%	29%	59%	123%	116%	135%	57%	90%	87%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	53	56	64	73	53	45	49	20	25	33	30	40
Inventory Days	119	147	145	150	131	117	117	144	150	184	197	251
Days Payable	75	105	81	77	68	78	110	87	107	109	92	134
Cash Conversion Cycle	97	97	128	146	116	85	56	77	68	108	135	156
Working Capital Days	11	15	16	19	27	25	18	1	28	29	54	48
ROCE %	7%	3%	-3%	14%	21%	25%	47%	23%	31%	24%	21%	12%

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
% ・Standalone data

Infrastructure (PEB) Installed Capacity
MTPA ・Standalone data

Global Cotton Ginning Market Share
% ・Standalone data

Number of Manufacturing Units
Units ・Standalone data

Aerobridges Delivered
Units

Heavy Engineering Capacity
MT ・Standalone data

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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