On 6 Nov 2026, Bharat Gears was priced at ₹98.54, or 10.1× trailing earnings, against an industry P/E of 25.6×, and the shares are 30% below their 52-week high. Sales and net profit grew 0.9% and 7.0% a year over 3 years, with ROCE of 18% and ROE of 14%. Debt is 0.56× equity, and its dividend yield is 1.0%. It is a small-cap company with a market cap of ₹151 Cr, ranked 113th of 140 Auto Parts companies by market cap; the shares fell 15% over the past year.
- ₹99.95
- ₹99.95
- ₹97.20
- ₹98.94
- 14.3K
Health check
- ReturnsBehind
−14.7% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 10.1 vs industry 25.6.
- GrowthSlow
Sales +0.9%, profit +7.0% a year over 3 years.
- ProfitabilityAverage
ROCE 17.6% vs peer median 15.6%.
- Balance sheetFair
Debt 0.56× equity, interest covered 2.9×, Piotroski 9 of 9.
- Red flags2 to check
Quarterly profit down 91.0% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹151 Cr
- Small cap
- P/E
- 10.1
- Industry 25.6
- Price to book
- 1.15
- Peers 8.75
- Dividend yield
- 1.01%
- ROE
- 13.5%
- Peers 12.3%
- ROCE
- 17.6%
- Peers 15.6%
- Debt to equity
- 0.56
- Debt ₹73 Cr
- EPS (TTM)
- ₹9.78
- Face value ₹10
- OPM (TTM)
- 6.2%
- Net margin 1.8%
- Sales growth
- +19.9%
- Latest quarter vs a year ago
- Profit growth
- −91.0%
- Latest quarter vs a year ago
- Price to sales
- 0.18
- EV/EBITDA 4.9
Strengths and risks
Strengths
- Quarterly sales up 19.9% on a year ago.
- P/E of 10.1 against an industry P/E of 25.6.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 91.0% on a year ago.
- 30% below its 52-week high.
About Bharat Gears
Bharat Gears Limited manufactures and supplies automotive gear in India, the United States, Mexico, Spain, and internationally. The company provides gear products, such as ring gears, pinions, transmission gears, shafts, differential gears, and bevel gears; automotive components, including automotive clutch assemblies and components, turbochargers and related parts, driveline products, axle shafts, flywheel assemblies and rings, propeller shaft…
- Headquarters
- Mumbai
- Employees
- 1,107
- Sector
- Consumer Cyclical
- ISIN
- INE561C01019
- Website
- bharatgears.com
Price range
- Avg volume (3M)
- 21.9K
- 1-year return
- minus 14.7%
- From 52-week high
- minus 30.3%
Peers · Auto Parts
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSONSamvardhana Motherson International | 158.55 | minus 5.62% | 1,68,549 | 35.4 | 3.70 | 11.5% | 10.2% | 9.6% | 17.1% | 37.2% | 0.30% | plus 60.8% |
| BOSCHLTDBosch | 50,700.00 | minus 3.38% | 1,49,545 | 63.3 | 10.07 | 24.2% | 19.4% | 13.4% | 10.3% | 24.8% | 0.51% | plus 38.6% |
| UNOMINDAUNO Minda | 1,326.00 | minus 0.67% | 76,572 | 58.1 | 11.21 | 20.5% | 19.1% | 11.0% | 20.5% | 22.3% | 0.22% | plus 6.6% |
| SONACOMSSona BLW Precision Forgings | 900.00 | minus 1.67% | 56,266 | 75.0 | 8.75 | 13.2% | 11.9% | 23.2% | 18.8% | 17.4% | 0.39% | plus 89.2% |
| SCHAEFFLERSchaeffler India | 3,519.70 | minus 1.17% | 55,014 | 41.9 | 8.97 | 25.7% | 20.2% | 17.9% | 12.3% | 9.4% | 0.98% | minus 13.9% |
| MRFMRF | 1,25,295.00 | minus 0.50% | 53,139 | 22.0 | 2.53 | 15.6% | 12.3% | 15.1% | 10.6% | 46.7% | 0.19% | minus 20.3% |
| BALKRISINDBalkrishna Industries | 2,410.00 | plus 0.34% | 46,589 | 32.7 | 4.25 | 13.8% | 11.6% | 21.3% | 3.6% | 5.5% | 0.71% | plus 1.6% |
| BHARATGEARBharat Gears | 98.54 | minus 0.40% | 151 | 10.1 | 1.15 | 17.6% | 13.5% | 6.2% | 0.9% | 7.0% | 1.01% | minus 14.7% |
| Median of 7 peers | – | −1.17% | 56,266 | 41.9 | 8.75 | 15.6% | 12.3% | 15.1% | 12.3% | 22.3% | 0.39% | 6.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 180 | 205 | 189 | 210 | 216 | |
| 170 | 188 | 177 | 197 | 208 | |
| 9.8 | 17 | 12 | 13.4 | 8.1 | |
| 5.5% | 8.3% | 6.3% | 6.4% | 3.8% | |
| 1.8 | 1.9 | 0.5 | 2.1 | 0.4 | |
| 3.7 | 3.6 | 3.4 | 3.4 | 3.2 | |
| 5.8 | 5.8 | 5.7 | 5.3 | 5.1 | |
| 2.2 | 9.6 | 3.4 | 6.8 | 0.2 | |
| 25.3% | 24.5% | 24.8% | 25.9% | 25.3% | |
| 1.6 | 7.2 | 2.6 | 5.1 | 0.1 | |
| 1.07 | 4.70 | 1.68 | 3.30 | 0.10 |
Profit & loss
- Sales CAGR 3Y
- +0.9%
- Profit CAGR 3Y
- +7.0%
- EPS CAGR 3Y
- +7.0%
- ROE
- 13.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 747 | 645 | 633 | 769 | |
| – | minus 13.7% | minus 1.8% | +21.4% | |
| 701 | 621 | 608 | 716 | |
| 46.2 | 23.7 | 25.3 | 52.3 | |
| 6.2% | 3.7% | 4.0% | 6.8% | |
| 5.8 | −0.3 | −0.3 | 3.7 | |
| 14.3 | 14.5 | 14.5 | 11.5 | |
| 20.1 | 22.6 | 23.6 | 22.6 | |
| −0 | 0.8 | 17.1 | 0.1 | |
| 17.6 | −12.9 | 3.9 | 22 | |
| 23.4% | 24.4% | 19.0% | 25.0% | |
| 13.5 | −9.7 | 3.2 | 16.5 | |
| – | minus 172.2% | – | +417.7% | |
| 8.78 | -6.34 | 2.08 | 10.75 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.4 | 15.4 | 15.4 | 15.4 | |
| 105 | 95.2 | 97.5 | 116 | |
| 116 | 113 | 79.7 | 72.9 | |
| 171 | 162 | 172 | 197 | |
| 407 | 385 | 364 | 401 | |
| 134 | 138 | 131 | 120 | |
| 3.2 | 5.6 | 3.7 | 5.6 | |
| 1.1 | 1.2 | 1.3 | 1.4 | |
| 0.4 | 3.5 | 0.3 | 0.8 | |
| 268 | 238 | 228 | 273 | |
| 407 | 385 | 364 | 401 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 42 | 46.6 | 49 | 29.4 | |
| −26.3 | −13.1 | 2.3 | −8 | |
| −2.8 | −37.5 | −51 | −30.9 | |
| 12.9 | −4 | 0.2 | −9.5 | |
| −26 | −14.5 | −13.9 | −11 | |
| 16 | 32.1 | 35 | 18.5 | |
| – | – | −0 | −0 |
Shareholding pattern
- Promoters55.33%
- Public44.67%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 55.33% | 44.67% | 0.00 | |
| 30 Jun 2026 | 55.33% | 44.67% | 0.00 | |
| 31 Mar 2026 | 55.33% | 44.67% | 0.00 | |
| 31 Dec 2025 | 55.33% | 44.67% | plus 0.01 | |
| 30 Sep 2025 | 55.32% | 44.68% | – |
Major shareholders
Filings & events
News
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