Bharat Gears

: BHARATGEAR · Auto Components & Equipments

52W Range₹84 ₹154

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Snapshot

Unlock Bharat Gears's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Bharat Gears Limited is a prominent manufacturer of automotive gears, including ring gears, pinions, transmission gears, and shafts. The company also produces heat treatment furnaces and supplies components for commercial vehicles, tractors, and off-highway equipment.

Business Model

The company generates revenue through the manufacturing and supply of precision automotive components and industrial heat treatment furnaces to original equipment manufacturers and the aftermarket sector.

Growth Outlook

Growth is primarily driven by demand in the commercial vehicle, tractor, and construction equipment segments, alongside the company's established presence in the automotive supply chain.

Key Risks

  • Cyclicality of Automotive Industry. The company's performance is highly sensitive to the cyclical demand patterns of the commercial vehicle and tractor manufacturing sectors.
  • Raw Material Price Volatility. Fluctuations in the prices of steel and other raw materials can significantly impact manufacturing costs and profit margins.
  • Technological Disruption. The transition toward electric vehicles may reduce the long-term demand for traditional transmission and gear components.
  • Competitive Pressure. The automotive component market is highly competitive, requiring continuous investment in quality and cost-efficiency to maintain market share.

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Key Metrics

REVENUE

₹784 Cr

TTM · standalone

+21.1%YoY

NET PROFIT

₹17 Cr

TTM · standalone

+417.6%YoY

EPS

₹10.75

TTM · standalone

+416.8%YoY

RETURN ON EQUITY

14.1%

TTM · standalone

+11.2 ppYoY

RETURN ON CAPITAL EMPLOYED

19.0%

TTM · standalone

+8.6 ppYoY

P/E

11.2x

Q4 FY26 · standalone

11.2 vs 14.5x5Y avg

EV/EBITDA

3.4x

Q4 FY26 · standalone

3.4 vs 5.6x5Y avg

EBITDA MARGIN

7.5%

TTM · standalone

+3.2 ppYoY

NET PROFIT MARGIN

2.4%

Q4 FY26 · standalone

+1.4 ppYoY

DEBT TO EQUITY

0.4x

Q4 FY26 · standalone

-0.10xYoY

Peers · Auto Components & Equipments

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Bharat GearsBHARATGEAR
₹159 Cr9.643.7121.1%7.5%14.1%19.0%+16.3%
Triton ValvesTRITONV
₹588 Cr20.3017.6418.6%7.0%8.5%20.8%-56.7%
Munjal ShowaMUNJALSHOW
₹524 Cr21.0911.5112.3%3.3%3.7%4.8%-3.6%
Autoline Industries LimitedAUTOIND
₹404 Cr10.127.999.6%20.2%24.1%+27.6%
Omax AutosOMAXAUTO
₹403 Cr9.964.8331.8%17.2%12.2%17.5%+25.5%
PPAP AutomotivePPAP
₹367 Cr7.909.7610.7%9.5%14.7%18.6%+19.2%

As of Q4 FY26

Financials