Bharat Seats Ltd

₹ 201 3.54%

06 May - close price

bharatseats.com BSE: 523229 NSE: BHARATSE

About

Incorporated in 1986, Bharat Seats Ltd manufactures complete seating system
and interior component for the automotive
and surface transport^[1]

Key Points

Business Overview:^[1]^[2]
BSL is a joint Venture of Suzuki Motor Corporation Japan, Maruti Suzuki India
Ltd, Rohit Relan, and Associates for manufacturing complete seating systems and auto components. It is an IATF 16949, ISO 14001 & OHSAS 18001 certified manufacturer of seating systems, carpets, NVH components, and body sealing parts for four-wheelers and two-wheelers.Also, the seating system for Indian Railways.

Website BSE NSE

Market Cap ₹ 1,262 Cr.
Current Price ₹ 201
High / Low ₹ 240 / 73.0
Stock P/E 29.2
Book Value ₹ 36.6
Dividend Yield 0.55 %
ROCE 20.2 %
ROE 20.4 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is expected to give good quarter
Company has delivered good profit growth of 56.6% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 21.2%

Cons

Company might be capitalizing the interest cost

* 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	293	253	286	250	278	299	291	306	393	427	459	491	574
	279	241	269	235	261	282	273	288	370	405	436	466	545
Operating Profit	15	12	17	15	17	17	18	19	23	22	23	25	30
OPM %	5%	5%	6%	6%	6%	6%	6%	6%	6%	5%	5%	5%	5%
	1	1	1	1	1	1	1	1	1	1	3	-0	1
Interest	1	1	2	2	2	2	2	2	2	2	3	2	2
Depreciation	4	5	6	6	6	6	6	7	7	8	9	9	9
Profit before tax	11	6	9	8	11	9	10	10	15	12	13	13	19
Tax %	30%	27%	25%	27%	23%	26%	26%	26%	25%	26%	26%	26%	28%
	7	5	7	6	8	7	7	8	11	9	10	10	13
EPS in Rs	1.17	0.74	1.08	0.88	1.29	1.05	1.13	1.21	1.81	1.46	1.58	1.58	2.11
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Upcoming result date: today

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	693	700	840	970	904	589	548	818	1,051	1,067	1,289	1,951
	661	670	803	905	853	553	521	785	1,005	1,006	1,213	1,852
Operating Profit	32	30	37	65	50	36	27	32	46	61	75	99
OPM %	5%	4%	4%	7%	6%	6%	5%	4%	4%	6%	6%	5%
	2	2	1	1	5	2	2	5	4	5	4	4
Interest	6	5	4	3	3	3	4	4	4	8	9	10
Depreciation	16	17	17	19	21	22	18	18	17	24	26	35
Profit before tax	11	10	17	44	31	12	7	16	30	34	44	58
Tax %	29%	27%	28%	35%	31%	-2%	28%	25%	27%	25%	26%	27%
	8	7	12	28	21	13	5	12	22	25	33	42
EPS in Rs	1.29	1.15	1.94	4.49	3.41	1.99	0.77	1.90	3.43	3.99	5.21	6.72
Dividend Payout %	35%	39%	23%	11%	15%	13%	33%	21%	20%	20%	21%	22%

Compounded Sales Growth
10 Years:	11%
5 Years:	29%
3 Years:	23%
TTM:	51%

Compounded Profit Growth
10 Years:	19%
5 Years:	57%
3 Years:	26%
TTM:	33%

Stock Price CAGR
10 Years:	27%
5 Years:	40%
3 Years:	62%
1 Year:	167%

Return on Equity
10 Years:	17%
5 Years:	17%
3 Years:	18%
Last Year:	20%

Balance Sheet

Figures in Rs. Crores

	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	6	6	6	6	6	6	6	6	6	6	13	13
Reserves	40	47	56	80	98	107	110	121	140	161	182	217
	91	75	63	25	29	40	35	39	66	160	152	110
	127	122	140	172	140	89	140	171	146	179	301	397
Total Liabilities	265	250	265	285	273	242	291	337	358	505	648	737
	150	144	146	136	152	150	126	147	199	276	283	356
CWIP	3	1	0	13	0	22	30	8	12	49	90	12
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	111	104	119	135	121	69	135	182	147	181	275	369
Total Assets	265	250	265	285	273	242	291	337	358	505	648	737

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	34	38	69	35	28	19	16	43	57	96	107
	-13	-6	-17	-23	-24	-34	-12	-15	-59	-73	-68	-47
	-23	-28	-22	-44	-4	-3	-7	-2	17	16	-25	-47
Net Cash Flow	0	0	0	2	7	-9	-0	-1	0	-0	3	12
Free Cash Flow	23	28	22	46	10	-6	7	0	-17	-16	28	59
CFO/OP	116%	122%	111%	127%	89%	93%	80%	56%	127%	113%	137%	122%

Ratios

Figures in Rs. Crores

	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	40	43	41	35	31	22	55	49	34	35	56	49
Inventory Days	7	9	8	12	11	16	24	28	12	16	19	13
Days Payable	56	60	61	66	59	57	99	68	48	59	87	69
Cash Conversion Cycle	-8	-8	-13	-19	-17	-19	-20	9	-3	-7	-13	-7
Working Capital Days	-35	-34	-26	-13	-12	-18	-13	2	-13	-17	-20	-12
ROCE %	13%	12%	17%	40%	28%	11%	7%	12%	18%	15%	16%	20%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Debtors Turnover Ratio
Times

xx.xx	xx.xx	x.xx	xx.xx	xx.xx	xx.xx	xx.xx	x.xx	x.xx	xx.xx	xx.xx	x.xx
	x		x	x	x	x	x	x	x	x	x
	x.xx		x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
			xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
										xx.xx	xx.xx
											xx.xx
x.xx	x.xx	x.xx	x.xx				x.xx			x.xx

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Number of Manufacturing Plants
Number

R&D Expenditure as percentage of Turnover
Percentage (%)

Number of Permanent Employees
Number

Seat Volumes Sold to Maruti Suzuki India Ltd (MSIL)
YoY Growth (%)

Market Share (SOB) of MSIL car seat sets requirement
Percentage (%)

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

24 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.59%	74.59%	74.59%	74.59%	74.59%	74.59%	74.59%	74.66%	74.66%	74.66%	74.66%	74.66%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.27%	0.06%	0.15%
	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.12%	0.21%	0.21%
	25.30%	25.30%	25.29%	25.30%	25.30%	25.31%	25.30%	25.22%	25.20%	24.95%	25.05%	24.97%
No. of Shareholders	12,783	13,127	13,410	14,894	15,121	16,677	27,016	26,438	25,965	26,898	28,466	29,712

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.38%	74.38%	74.39%	74.59%	74.59%	74.59%	74.59%	74.59%	74.66%	74.66%
	0.00%	0.29%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.15%
	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.21%
	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.51%	25.09%	25.45%	25.30%	25.30%	25.30%	25.30%	25.30%	25.22%	24.97%
No. of Shareholders	21,102	10,818	11,453	11,050	11,431	13,253	11,842	14,894	26,438	29,712

* 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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Bharat Seats Ltd

Bharat Seats Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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Announcements

Annual reports

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