Bedmutha Industries financials and balance sheet

NSE: BEDMUTHABSE: 533270Industrial ProductsSmall Cap

₹104.28₹0.80 (0.76%)BSE ₹105.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹105.08.

52-week range of traded prices to 23 Oct 2026

₹94.55Low, 1 Apr 2026₹144.00High, 16 Feb 2026

Market cap: ₹336 Cr2,007th largest listed
P/E: 20.1
P/B: 2.2
Dividend yield: Nonein the last 12 months
ROE: 11.3%
ROCE: 11.6%
Debt to equity: 1.37
Volume, NSE: 5,23677.8% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Bedmutha Industries annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹1,467 Cr, year to Mar 2026A loss in 4 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue1,467
Materials and goods−1,268
Employee costs−22
Other expenses−117
Operating profit59
Depreciation−25
Other income+16
One-off items0.0
Finance costs−43
Profit before tax7.1
Tax0.0
Joint ventures−0.6
Net profit6.5

What the company owns

Plant, investments and other assets₹454 Cr
Receivables₹156 Cr
Inventory₹95 Cr
Cash and bank₹22 Cr

What pays for it: net worth and liabilities

Owed to suppliers₹210 Cr
Borrowings₹208 Cr
Other liabilities₹157 Cr
Net worth₹152 Cr

Bedmutha Industries business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Bedmutha Industries segment results by quarter

Revenue by segment

₹1,467 CrTotal

Copper₹1,020 Cr69.6% of total
Steel₹446 Cr30.4% of total

Profit by segment

Copper₹19.1 Cr37.8% of total
Steel₹29.6 Cr58.6% of total
EPC Projects₹1.8 Cr3.6% of total
Others₹0.0 Cr0.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Copper
Revenue, ₹ crore
156
127
135
324
355
450
673
1,020
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
8
7
10
24
27
27
27
19
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Steel
Revenue, ₹ crore
216
168
253
336
331
362
376
446
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−24
−14
249
15
19
28
32
30
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
EPC Projects
Revenue, ₹ crore
119
104
1
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
11
9
0
2
0
1
2
2
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	491	399	388	660	687	812	1,049	1,467
Company revenue, as in its results	491	361	388	660	687	812	1,049	1,467
Revenue	156	127	135	324	355	450	673	1,020
Revenue growth	–	−19.0%	6.7%	140.0%	9.6%	26.5%	49.6%	51.6%
Profit	8	7	10	24	27	27	27	19
Profit growth	–	−10.1%	44.3%	138.4%	11.8%	0.6%	−2.8%	−28.3%
Margin	5.0%	5.6%	7.6%	7.5%	7.7%	6.1%	4.0%	1.9%
Return on capital	16.6%	24.3%	17.6%	24.9%	25.8%	21.8%	16.0%	42.6%
Assets	91	75	85	139	162	209	262	181
Liabilities	43	46	27	41	57	84	96	137
Capital employed	47	29	58	98	105	125	167	45
Revenue	216	168	253	336	331	362	376	446
Revenue growth	–	−22.2%	50.2%	33.0%	−1.4%	9.3%	4.0%	18.6%
Profit	−24	−14	249	15	19	28	32	30
Profit growth	–	–	–	−93.9%	23.5%	47.0%	17.4%	−8.4%
Margin	−11.0%	−8.4%	98.4%	4.5%	5.7%	7.6%	8.6%	6.6%
Return on capital	–	–	–	–	–	–	–	28.4%
Assets	351	357	351	333	322	347	385	540
Liabilities	549	581	352	358	338	357	410	436
Capital employed	−199	−224	−1	−25	−17	−10	−24	104
Revenue	119	104	1	0	0	0	0	0
Revenue growth	–	–	−99.4%	–	–	–	–	–
Profit	11	9	0	2	0	1	2	2
Margin	9.1%	9.1%	−76.5%	4,24,580.0%	121.9%	196.5%	–	–
Return on capital	18.2%	29.6%	−2.4%	16.8%	2.3%	16.8%	77.7%	82.7%
Assets	139	46	29	18	15	9	6	4
Liabilities	79	14	10	5	5	4	4	2
Capital employed	60	32	20	13	10	5	2	2
	0	0	0	0	0	0	0	0
Profit	0	0	0	0	0	0	0	0
Return on capital	1.6%	1.6%	1.3%	1.3%	1.3%	1.6%	1.0%	1.7%
Assets	1	1	1	1	1	1	1	1
Liabilities	0	0	0	0	0	0	0	0
Capital employed	1	1	1	1	1	1	1	1

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Bedmutha Industries quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 26 Jun	Mar 2021Filed 24 Jul	Mar 2022Filed 6 Jun	Mar 2023Filed 9 May	Mar 2024Filed 31 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 28 May
Revenue from operations	699	619	491	361	388	660	687	812	1,049	1,467
	668	656	492	362	405	644	670	786	1,016	1,408
Materials and goods bought	568	512	319	282	315	557	573	688	907	1,268
Employee costs	–	–	18	16	14	16	19	18	19	22
Other expenses	–	–	155	64	76	71	78	79	90	117
Operating profit before depreciation	30	−37	−1	−1	−17	16	17	26	34	59
Operating margin	4.3%	−6.0%	−0.1%	−0.2%	−4.3%	2.5%	2.4%	3.2%	3.2%	4.0%
Materials, % of revenue	–	–	65.0%	78.1%	81.1%	84.4%	83.4%	84.8%	86.4%	86.5%
Employee costs, % of revenue	–	–	3.6%	4.4%	3.6%	2.4%	2.8%	2.3%	1.8%	1.5%
Other expenses, % of revenue	–	–	31.6%	17.7%	19.6%	10.8%	11.4%	9.7%	8.6%	8.0%
Depreciation and amortisation	29	27	33	33	36	33	32	27	20	25
Operating profit after depreciation	1	−64	−34	−34	−52	−17	−15	0	14	34
Other income	4	33	29	27	311	58	61	56	47	16
Finance costs	57	60	65	64	62	32	34	35	36	43
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	−52	−91	−70	−71	197	9	13	20	25	7
	0	0	0	0	1	0	0	0	0	0
Current tax	–	0	0	0	1	0	0	0	0	0
Deferred tax	–	0	0	0	0	0	0	0	0	0
Share of profit of joint ventures and associates	0	–	0	0	0	0	0	1	0	−1
	−52	−91	−70	−71	196	9	13	21	25	7
Belonging to the company's shareholders	−52	−91	−71	−71	196	9	13	21	25	7
Belonging to outside owners of subsidiaries	–	–	0	0	0	0	0	0	0	0
Net margin	−7.5%	−14.7%	−14.3%	−19.7%	50.5%	1.4%	1.9%	2.6%	2.4%	0.4%
Net margin without joint ventures and associates	−7.5%	–	−14.4%	−19.7%	50.5%	1.4%	1.8%	2.5%	2.4%	0.5%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 4 Jun	Mar 2020Filed 26 Jun	Mar 2021Filed 24 Jul	Mar 2022Filed 6 Jun	Mar 2023Filed 9 May	Mar 2024Filed 31 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 28 May
	−91	−162	77	87	100	120	145	152
	−91	−162	77	87	100	120	145	152
Share capital	25	25	32	32	32	32	32	32
Reserves	−116	−186	45	54	67	88	113	120
Belonging to outside owners of subsidiaries	0	0	0	0	0	0	0	0
	471	461	267	276	251	235	217	208
Repayable after a year	230	217	208	172	156	148	140	142
Repayable within a year	241	244	59	104	95	86	78	66
	425	407	164	209	221	250	279	289
Trade payables	32	19	54	95	117	155	191	210
Other financial liabilities	39	45	40	0	0	0	0	0
Other liabilities	35	1	1	3	3	2	2	2
Provisions	79	97	10	6	7	8	7	11
	247	234	225	195	179	195	231	285
Other financial liabilities	17	17	17	23	23	47	67	126
Other liabilities	0	0	0	0	0	0	24	17
Deferred tax	0	0	0	0	0	0	0	0
Total assets	581	479	466	490	499	566	655	726
	328	292	241	221	195	198	235	320
Plant in use, after depreciation	240	208	189	163	144	156	179	193
Plant being built	40	44	34	38	35	25	38	105
Goodwill	0	0	0	0	0	0	0	0
Property held to earn rent	1	1	1	2	2	2	2	2
Investments	3	2	0	0	0	0	0	1
Stakes in joint ventures and associates	0	0	2	2	2	3	3	2
Loans given	16	6	2	0	0	0	0	0
Other financial assets	0	0	1	2	2	4	4	5
Trade receivables	20	17	6	6	5	3	1	1
Other assets	8	12	6	7	5	5	6	11
	253	187	225	270	305	367	420	406
Inventories	32	41	40	64	74	62	74	95
Trade receivables	44	50	62	60	70	105	140	156
Cash and cash equivalents	13	8	9	1	3	1	2	10
Other bank balances	0	5	4	9	14	10	11	12
Loans given	3	3	1	0	0	0	0	1
Other financial assets	1	65	93	117	128	178	177	119
Tax paid in advance	0	0	0	0	0	0	0	0
Other assets	160	14	16	17	16	11	16	14
Net debt	458	448	254	266	234	223	204	186

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 24 Jul	Mar 2022Filed 6 Jun	Mar 2023Filed 9 May	Mar 2024Filed 31 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 28 May
	58	71	73	74	109	158
	59	71	73	74	109	158
	27	−2	−4	−6	30	92
Receivables	−20	2	−8	−33	−34	−16
Inventories	1	−25	−9	11	−11	−21
Payables	35	41	21	38	37	18
Other working capital	11	−20	−8	−23	39	111
Tax paid	−1	0	0	0	0	0
Capital spending	6	12	11	29	56	106
Free cash flow	52	59	62	45	52	52
	−5	−12	−9	−28	−55	−99
Plant and property sold	0	1	2	1	1	8
	−53	−62	−57	−51	−52	−51
Borrowings raised	0	0	9	8	0	8
Borrowings repaid	−43	−40	−44	−36	−30	−32
Interest paid	−53	−23	−22	−23	−22	−28
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	43	0	0	0	0	0
Net change in cash	0	−3	7	−5	1	9

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 26 Jun	Mar 2021Filed 24 Jul	Mar 2022Filed 6 Jun	Mar 2023Filed 9 May	Mar 2024Filed 31 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 28 May
Earnings per share	−₹21.33	−₹37.09	−₹28.74	−₹29.03	₹60.75	₹2.91	₹4.03	₹6.49	₹7.69	₹2.01
Diluted earnings per share	−₹21.33	−₹37.09	−₹28.74	−₹29.03	₹60.75	₹2.91	₹4.03	₹6.49	₹7.69	₹2.01
Book value per share	–	–	−₹37.11	−₹66.02	₹23.91	₹26.81	₹30.85	₹37.34	₹45.03	₹47.04
Shareholder yield	–	–	–	–	−86.2%	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	69	41	44	32	49	223	194	711	522	320

Ratios

Consolidated, years to March.Bedmutha Industries PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 4 Jun	Mar 2020Filed 26 Jun	Mar 2021Filed 24 Jul	Mar 2022Filed 6 Jun	Mar 2023Filed 9 May	Mar 2024Filed 31 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 28 May
Revenue growth	39.8%	−11.5%	−20.6%	−26.5%	7.6%	70.0%	4.0%	18.2%	29.2%	39.8%
Operating profit growth	157.1%	–	–	–	–	–	2.7%	57.0%	27.7%	76.6%
Net profit growth	–	–	–	–	–	−95.2%	38.7%	61.0%	18.5%	−73.8%
Earnings per share growth	–	–	–	–	–	−95.2%	38.5%	61.0%	18.5%	−73.9%
	–	–	77.4%	56.3%	−462.1%	11.5%	14.0%	19.0%	18.7%	4.4%
	–	–	–	−21.2 pts	−518.4 pts	473.6 pts	2.5 pts	5.1 pts	−0.4 pts	−14.3 pts
From the net margin	–	–	–	29.0 pts	−200.2 pts	449.1 pts	3.8 pts	5.1 pts	−1.6 pts	−15.2 pts
From asset turnover	–	–	–	−20.7 pts	−29.8 pts	−8.8 pts	0.1 pts	1.9 pts	2.2 pts	0.8 pts
From borrowing	–	–	–	−29.5 pts	−288.4 pts	33.3 pts	−1.4 pts	−1.9 pts	−1.0 pts	0.1 pts
Return on capital employed	–	–	−9.0%	−11.4%	−15.3%	−4.6%	−4.3%	−0.1%	3.9%	9.5%
Cash conversion	–	–	–	–	29.5%	760.4%	558.8%	352.4%	438.3%	2,434.4%
Interest cover	0.0	–	–	–	–	–	–	–	0.4	0.8
Debt to equity	–	–	–	–	3.46	3.19	2.53	1.95	1.50	1.37
Receivable days	–	–	33	51	58	33	37	47	49	39
Inventory days	–	–	37	53	46	42	47	33	30	27
Payable days	–	–	36	25	63	62	74	82	77	60
Cash conversion cycle, days	–	–	34	79	41	13	10	−2	1	6
Working capital days	–	–	41	11	101	85	86	86	72	40
Asset turnover	–	–	0.85	0.68	0.82	1.38	1.39	1.52	1.72	2.12
Assets per rupee of net worth	–	–	−6.38	−4.19	−11.14	5.85	5.32	4.84	4.59	4.65
Sales per rupee of plant	–	–	2.05	1.73	2.06	4.05	4.77	5.21	5.86	7.59
Capital spending to depreciation	–	–	–	–	0.16	0.36	0.33	1.09	2.89	4.23
Plant being built, % of plant in use	–	–	16.7%	21.1%	17.9%	23.4%	24.0%	16.1%	21.5%	54.6%

Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021, Mar 2022, Mar 2023 and Mar 2024: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2019 and Mar 2020: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 0.9%
Cash from operations against operating profit: 267.2%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	11.4%	30.4%	28.8%
Profit growth, yearly rate	–	−49.4%	−20.6%
Return on equity, average	–	13.5%	14.0%
Return on capital employed, average	–	0.9%	4.4%
Operating margin, average	0.9%	3.1%	3.5%
Net margin, average	0.3%	1.7%	1.8%
Asset turnover, average	–	1.63	1.79
Cash conversion cycle, days, average	–	6	2
Interest cover, average	–	–	0.6
Debt to equity, average	–	2.11	1.60

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	485	341	158
Cash from investing	−203	−182	−99
Cash from financing	−273	−154	−51
Capital spending	214	191	106
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	26	17	8
Borrowings repaid	181	98	32

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	6	6	8	7	8	6
Altman Z-scorePublished threshold 1.81	0.22	−0.36	3.05	2.26	2.36	3.19	3.02	3.01
Beneish M-scorePublished threshold −1.78	–	–	−0.81	−2.66	−3.00	−2.49	−2.55	−2.82
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	30.36	−10.49	−10.26	−4.59	−4.68	−7.71
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	0.92	5.03	4.34	6.52
Receivables growth less revenue growthOur threshold 0 percentage points	–	40.01	16.14	−73.02	12.00	31.23	4.57	−28.08
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	39.16	−14.48	−14.88	11.79	−35.72	−13.54	−11.57
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	−22.55	7.92	3.70	1.39	5.49	0.48	−4.09
Assets under construction, years of additionsOur threshold 2 years of additions	–	32.02	2.13	5.09	2.70	0.65	0.90	2.70
Effective tax ratePublished threshold 17.16 per cent	–	–	0.49	0.00	0.00	0.00	0.00	0.00
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	0.00	0.00	0.00	0.00	0.00

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
16 Mar 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Short Term Bank Facilities	IVR A3+Review, Re-affirm		73.51
16 Mar 2026	Infomerics Valuation and Ratings Private Limited (opens in a new tab)	Long Term Bank Facilities	IVR BBBReview, Re-affirm	Stable	86.48

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.