Bondada Engineering Ltd
Incorporated in 2012, Bondada Engineering Limited provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom and solar energy industry.[1]
- Market Cap ₹ 2,704 Cr.
- Current Price ₹ 242
- High / Low ₹ 510 / 238
- Stock P/E 13.9
- Book Value ₹ 51.8
- Dividend Yield 0.04 %
- ROCE 39.5 %
- ROE 36.2 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 61.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.1%
Cons
* 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
Telecommunication Telecommunication Telecom - Services Telecom - Infrastructure
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 224 | 229 | 287 | 334 | 371 | 801 | 1,571 | |
| 205 | 211 | 271 | 314 | 340 | 732 | 1,396 | |
| Operating Profit | 19 | 18 | 16 | 20 | 31 | 68 | 175 |
| OPM % | 9% | 8% | 6% | 6% | 8% | 9% | 11% |
| 0 | 0 | 1 | 0 | 0 | 3 | 8 | |
| Interest | 2 | 2 | 4 | 3 | 6 | 9 | 25 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 1 | 4 |
| Profit before tax | 16 | 14 | 12 | 15 | 24 | 62 | 155 |
| Tax % | 29% | 27% | 21% | 31% | 23% | 25% | 25% |
| 11 | 10 | 9 | 10 | 18 | 46 | 115 | |
| EPS in Rs | 27.71 | 24.76 | 22.46 | 24.73 | 2.25 | 4.14 | 10.17 |
| Dividend Payout % | 0% | 0% | 0% | 2% | 1% | 1% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 47% |
| 3 Years: | 68% |
| TTM: | 134% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 61% |
| 3 Years: | 122% |
| TTM: | 151% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -35% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 32% |
| 3 Years: | 35% |
| Last Year: | 36% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.82 | 0.82 | 0.82 | 0.82 | 16 | 22 | 22 | 22 |
| Reserves | 28 | 38 | 47 | 57 | 62 | 141 | 425 | 555 |
| 26 | 40 | 47 | 38 | 84 | 73 | 182 | 234 | |
| 52 | 60 | 76 | 62 | 89 | 270 | 566 | 678 | |
| Total Liabilities | 107 | 140 | 171 | 158 | 251 | 505 | 1,194 | 1,489 |
| 14 | 13 | 13 | 13 | 15 | 41 | 94 | 138 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 1 |
| Investments | 0 | 0 | 0 | 1 | 2 | 2 | 30 | 10 |
| 92 | 126 | 158 | 144 | 235 | 460 | 1,067 | 1,341 | |
| Total Assets | 107 | 140 | 171 | 158 | 251 | 505 | 1,194 | 1,489 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 4 | -18 | 3 | 11 | -32 | 44 | -158 | |
| -5 | -1 | -2 | -2 | -12 | -52 | -121 | |
| 6 | 12 | 3 | -12 | 45 | 21 | 269 | |
| Net Cash Flow | 5 | -6 | 4 | -3 | 0 | 13 | -10 |
| Free Cash Flow | -1 | -19 | 1 | 9 | -36 | 16 | -193 |
| CFO/OP | 21% | -95% | 52% | 71% | -92% | 78% | -72% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 74 | 125 | 108 | 86 | 126 | 94 | 125 |
| Inventory Days | 133 | 184 | 282 | 100 | 118 | 96 | 94 |
| Days Payable | 138 | 152 | 183 | 63 | 89 | 104 | 108 |
| Cash Conversion Cycle | 69 | 157 | 207 | 123 | 155 | 86 | 110 |
| Working Capital Days | 30 | 48 | 47 | 50 | 56 | 38 | 63 |
| ROCE % | 24% | 16% | 19% | 22% | 35% | 40% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Order Book INR Million |
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| Total Employees Numbers |
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| Cumulative Telecom Towers Deployed Units |
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| Telecom Towers Under O&M Units |
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| Tower Fabrication Capacity MTPA ・Standalone data |
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| Managed Optical Fiber KM |
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| Solar Performance Portfolio (Commissioned) GW |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
26 Mar - Incorporated BONDADA DINESH SPV Pvt Ltd, 51% owned, to execute MAHAGENCO project; authorised capital Rs100,000 on 26 Mar 2026.
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Closure of Trading Window
26 Mar - Trading window closed 01 Apr 2026 until 48 hours after audited FY2026 results; board meeting date pending.
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Intimation Of New Bank Limits And Enhancement Of Bank Limits.
24 Mar - PNB fresh ₹200 Cr; HDFC enhanced to ₹210 Cr; CSB enhanced to ₹125 Cr.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
18 Mar - Bondada Dynamics won BEL order for defence components worth Rs.35,70,000, to be executed within three months.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
13 Mar - Subsidiary received Rs35,39,94,525 order to supply 40M towers; due Oct 2026.
Annual reports
Concalls
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Mar 2026TranscriptAI SummaryPPT
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Jan 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
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Oct 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT
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Mar 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Aug 2024TranscriptAI SummaryPPT
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May 2024TranscriptAI SummaryPPT
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Jan 2024TranscriptPPT
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Nov 2023TranscriptAI SummaryPPT
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Oct 2023TranscriptAI SummaryPPT
Business Segments[1]
a) Renewable Energy (58% of FY25 revenue)[2][3]
The company provides end-to-end solar EPC services, covering site surveys, land preparation, system design, installation, and performance monitoring. Its offerings include solar module mounting structures (MMS), battery energy storage systems (BESS), and large-scale solar power plants.