BPL Ltd

₹ 54.1 -0.64%

23 Jul 4:01 p.m.

About

Incorporated in 1963, BPL Ltd is in the business of manufacturing Printed Circuit Boards^[1]

Key Points

Business Overview:^[1]
BPL is in the business of consumer electronic durable products and manufacturing of Printed Circuit Boards (PCBs). The end-user industries for manufactured PCBs are the lighting and automotive industry. It manufactures high precision hermetically sealed panel meters for defense applications. It has also diversified into the manufacturing of medical products like electro-cardiographs as well as into infrastructure development in power and telecommunication.

Website BSE NSE

Market Cap ₹ 264 Cr.
Current Price ₹ 54.1
High / Low ₹ 91.3 / 37.6
Stock P/E
Book Value ₹ 49.2
Dividend Yield 0.00 %
ROCE -1.22 %
ROE -3.49 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.10 times its book value

Cons

Company has low interest coverage ratio.
Company has a low return on equity of -11.7% over last 3 years.
Promoters have pledged 79.6% of their holding.

* 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 Consumer Durables Consumer Durables Consumer Electronics

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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
	15	14	21	14	16	19	21	19	19	19	20	19	20
	14	11	12	12	16	15	16	18	17	16	19	19	29
Operating Profit	1	3	10	2	0	5	5	1	2	3	0	0	-9
OPM %	7%	21%	46%	13%	3%	24%	23%	5%	9%	17%	2%	2%	-46%
	9	0	0	0	4	9	0	0	-17	0	0	1	0
Interest	0	0	0	0	0	0	0	0	1	0	0	0	0
Depreciation	0	0	0	1	1	1	1	1	1	1	1	1	1
Profit before tax	9	3	10	1	4	13	4	0	-18	3	-0	0	-10
Tax %	83%	0%	0%	0%	92%	0%	0%	0%	0%	0%	0%	0%	17%
	1	3	10	1	0	13	4	0	-18	3	-0	0	-11
EPS in Rs	0.30	0.52	2.00	0.30	0.06	2.73	0.83	0.06	-3.61	0.56	-0.04	0.03	-2.30
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2016	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	93.62	81.55	89.13	75.51	93.97	105.33	40.28	38.25	52.22	66.43	78.36	78.12
	116.30	128.38	96.87	85.30	99.23	127.42	41.14	38.12	46.34	52.11	65.84	82.94
Operating Profit	-22.68	-46.83	-7.74	-9.79	-5.26	-22.09	-0.86	0.13	5.88	14.32	12.52	-4.82
OPM %	-24.23%	-57.42%	-8.68%	-12.97%	-5.60%	-20.97%	-2.14%	0.34%	11.26%	21.56%	15.98%	-6.17%
	1.70	66.70	116.42	71.68	39.15	16.71	16.46	10.93	9.86	5.34	-7.68	1.77
Interest	25.00	13.34	10.68	4.68	11.38	8.50	0.88	1.74	1.54	0.80	2.38	1.44
Depreciation	15.81	10.85	21.40	8.17	1.71	3.56	0.49	1.67	1.69	1.99	2.29	2.42
Profit before tax	-61.79	-4.32	76.60	49.04	20.80	-17.44	14.23	7.65	12.51	16.87	0.17	-6.91
Tax %	-106.39%	-21.99%	0.99%	-18.25%	191.92%	754.64%	159.38%	-69.28%	59.55%	20.51%	47.06%	23.73%
	3.95	-3.37	75.84	57.99	-19.11	-149.06	-13.93	12.95	5.06	13.41	0.10	-8.55
EPS in Rs	0.81	-0.58	16.25	12.00	-1.17	-29.01	-2.85	2.65	1.03	2.74	0.05	-1.75
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	7%
5 Years:	%
3 Years:	14%
TTM:	0%

Compounded Profit Growth
10 Years:	-5%
5 Years:	%
3 Years:	%
TTM:	91%

Stock Price CAGR
10 Years:	3%
5 Years:	4%
3 Years:	-3%
1 Year:	-38%

Return on Equity
10 Years:	%
5 Years:	-6%
3 Years:	-12%
Last Year:	-3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2016	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	48.51	48.51	48.51	48.67	48.89	48.89	48.89	48.91	48.98	48.98	48.98	48.98
Reserves	-59.83	4.94	94.51	153.94	149.06	47.59	8.50	117.19	187.00	200.52	200.38	192.03
	570.50	456.43	305.82	217.69	192.69	169.69	176.11	31.19	22.86	30.09	29.80	105.57
	104.48	111.73	77.71	67.75	220.52	281.74	55.68	339.03	340.41	336.76	333.73	367.08
Total Liabilities	663.66	621.61	526.55	488.05	611.16	547.91	289.18	536.32	599.25	616.35	612.89	713.66
	145.17	113.67	72.11	26.69	31.96	37.98	11.61	55.57	58.16	59.61	61.10	59.31
CWIP	18.71	18.90	18.90	18.90	299.50	305.96	0.00	308.73	308.87	311.68	308.54	308.21
Investments	137.00	137.46	137.46	115.87	0.00	0.19	8.84	59.45	124.28	124.28	124.28	124.28
	362.78	351.58	298.08	326.59	279.70	203.78	268.73	112.57	107.94	120.78	118.97	221.86
Total Assets	663.66	621.61	526.55	488.05	611.16	547.91	289.18	536.32	599.25	616.35	612.89	713.66

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-6.90	0.00	6.72	-47.96	31.77	-14.62	-0.65	6.26	6.82	8.87	-85.79
	0.50	0.00	158.67	112.26	-133.59	8.15	3.63	4.29	-7.80	-11.22	-0.91
	16.58	0.00	-168.65	-62.93	103.26	5.64	-3.89	-10.17	6.16	-2.49	86.56
Net Cash Flow	10.18	0.00	-3.26	1.37	1.44	-0.83	-0.91	0.38	5.18	-4.84	-0.14
Free Cash Flow	-8.50	0.00	164.72	64.09	-102.06	-1.20	-0.88	2.01	0.85	56.74	-86.09
CFO/OP	28%	0%	-88%	488%	-604%	1,669%	-500%	106%	48%	71%	1,780%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2016	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	48.50	70.67	72.69	62.60	71.43	92.73	1,050.78	124.53	97.02	117.53	111.28	116.81
Inventory Days	63.91	62.96	51.68	62.46	47.44	96.09	57.36	79.71	52.24	54.25	51.01	67.97
Days Payable	509.07	463.74	115.26	128.49	91.94	142.36	132.88	243.65	231.35	211.49	219.12	186.92
Cash Conversion Cycle	-396.66	-330.10	9.10	-3.43	26.93	46.46	975.26	-39.41	-82.09	-39.71	-56.83	-2.14
Working Capital Days	22.26	79.18	13.19	-6.48	-17.83	39.89	841.91	-1,624.42	-1,141.41	-886.54	-712.63	-296.88
ROCE %	-0.53%	-3.81%	-5.57%	-4.09%	-1.14%	-2.91%			3.85%	4.35%	4.91%	-1.22%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2019

Mar 2020

Mar 2021

PCB Installed Capacity
Sqm ・Standalone data

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PCB Segment Revenue Share
% ・Standalone data

Number of Permanent Employees
count ・Standalone data

PCB Capacity Utilization
% ・Standalone data

PCB End-Use Industry - Lighting Share
% ・Standalone data

PCB Production Volume
Sqm ・Standalone data

PCB Sales Volume
Sqm ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%	63.13%
	0.00%	0.03%	0.01%	0.16%	0.00%	0.01%	0.03%	0.00%	0.03%	0.07%	0.02%	0.00%
	36.86%	36.83%	36.86%	36.70%	36.87%	36.86%	36.84%	36.87%	36.83%	36.80%	36.84%	36.87%
No. of Shareholders	40,252	37,975	39,450	42,397	43,422	45,050	45,839	42,959	45,638	45,473	45,356	44,893

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	63.24%	63.24%	63.24%	63.24%	63.08%	63.24%	63.13%	63.13%	63.13%	63.13%	63.13%
	0.00%	0.00%	0.00%	0.03%	0.00%	0.01%	0.06%	0.01%	0.03%	0.02%	0.00%
	1.41%	0.94%	0.78%	0.51%	0.51%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.35%	35.82%	35.97%	36.22%	36.41%	36.24%	36.81%	36.86%	36.84%	36.84%	36.87%
No. of Shareholders	27,773	29,318	29,817	29,663	30,035	43,124	41,422	39,450	45,839	45,356	44,893

* 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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BPL Ltd

BPL Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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