BANARBEADS
Banaras Beads financials
- Market cap
- ₹73 Cr
- Sector
- Consumer Durables
What Banaras Beads Limited does
Banaras Beads Limited manufactures and exports handicraft items — glass beads, necklaces and imitation jewellery — which is its sole reportable business activity under NIC codes 2310 and 3212. The company operates from its registered works in Varanasi, Uttar Pradesh, and runs a captive 150 KVA solar power plant to reduce reliance on grid electricity. It holds ISO 9001:2015 quality certification and SA 8000 social-accountability certification, audited by the British Standards Institution (BSI).
Segments
- Glass beads, handicrafts & imitation jewellery
- Captive solar power plant capacity
- 150 KVA
- Captive solar power generated (FY25)
- 1,51,800 kWh (~21,000 kWh exported to UP grid)
- Core product line
- Glass beads, handicraft items & imitation jewellery (NIC codes 2310, 3212) — sole reportable business activity
- Quality & social-compliance certifications
- ISO 9001:2015; SA 8000 (BSI-audited)
Quarterly results
Q1 FY27: revenue up 45.9%, net profit up 18.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12 | 6 | 7 | 6 | 5 −56% | 8 +34% | 7 −10% | 9 +46% |
| EBITDA | 2 | 1 | 1 | 1 | 0 −82% | 1 +32% | 2 +78% | 1 +48% |
| Net profit | 1 | 1 | 1 | 1 | 0 −97% | 1 +16% | 1 −17% | 1 +18% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −0.8% 1Y
1Y: ₹108.44 on 10 Sept 2025 → ₹107.56. High ₹151.16 (30 Oct 2025), low ₹98.3 (10 Jun 2026).
Financials, as filed
Revenue fell 5.0% a year over 2 years, FY24 to FY26. Operating margin widened to 15.8%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹28 Cr | ₹32 Cr | ₹25 Cr |
| Operating profit | ₹3 Cr | ₹4 Cr | ₹4 Cr |
| Operating margin | 9.4% | 13.1% | 15.8% |
| Interest | ₹0 Cr | ₹1 Cr | ₹2 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹2 Cr |
| Net profit | ₹3 Cr | ₹3 Cr | ₹2 Cr |
| Net margin | 9.7% | 9.8% | 7.0% |
| Cash from operations | ₹-3 Cr | ₹5 Cr | ₹-5 Cr |
| Free cash flow | ₹-4 Cr | ₹2 Cr | ₹-13 Cr |
| ROCE | 7.1% | 7.8% | 5.7% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr |
| Reserves | ₹43 Cr | ₹45 Cr | ₹46 Cr | ₹48 Cr | ₹50 Cr | ₹51 Cr |
| Borrowings | ₹4 Cr | ₹6 Cr | ₹0 Cr | ₹3 Cr | ₹16 Cr | ₹21 Cr |
| Other liabilities | ₹2 Cr | ₹2 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Total liabilities | ₹56 Cr | ₹60 Cr | ₹56 Cr | ₹60 Cr | ₹74 Cr | ₹81 Cr |
| Fixed assets | ₹18 Cr | ₹9 Cr | ₹9 Cr | ₹8 Cr | ₹17 Cr | ₹17 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Other assets | ₹35 Cr | ₹48 Cr | ₹44 Cr | ₹48 Cr | ₹54 Cr | ₹61 Cr |
| Total assets | ₹56 Cr | ₹60 Cr | ₹56 Cr | ₹60 Cr | ₹74 Cr | ₹81 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.34 pp while the public trimmed −0.30 pp. The shareholder count shrank 15% to 5,978.
- Promoters
- 58.5%
- Public
- 41.5%
Since Jun 2025
- Promoters +0.34 pp
- Public −0.30 pp
- FIIs −0.04 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 58.1%, Public 41.9%.Dec '23: Promoters 58.1%, Public 41.9%.Mar '24: Promoters 58.1%, Public 41.8%.Jun '24: Promoters 58.1%, Public 41.9%.Sep '24: Promoters 58.1%, Public 41.9%.Dec '24: Promoters 58.1%, FIIs 0.0%, Public 41.8%.Mar '25: Promoters 58.1%, FIIs 0.0%, Public 41.8%.Jun '25: Promoters 58.1%, FIIs 0.0%, Public 41.8%.Sep '25: Promoters 58.1%, Public 41.9%.Dec '25: Promoters 58.1%, Public 41.8%.Mar '26: Promoters 58.5%, Public 41.5%.Jun '26: Promoters 58.5%, Public 41.5%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Banaras Beads Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ram Gulam Kanhaiya Lal Charitable Trust | 14.72% | unchanged |
| Ashok Kumar Gupta | 13.43% | unchanged |
| Rekha Gupta | 11.21% | unchanged |
| Siddharth Gupta | 10.63% | unchanged |
| Ashok Kumar Gupta Huf | 8.26% | unchanged |
| Shivani Gupta | 7.79% | unchanged |
| Prashant Gupta | 7.16% | unchanged |
| Investor Education and Protection Fund | 4.66% | unchanged |
| Mita Dipak Shah | 2.35% | unchanged |
| Dipak Kanayalal Shah | 1.06% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
Growth trapTo justify its price of ₹108, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~-20%. At that growth it is worth ₹6 — downside of 94%.
- Growth the price implies
- 34.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -19.5% a year
- net profit, FY24–FY26 · EPS -19.6%
- The gap
- 0.5 pp
- -94% downside if it only repeats history
Learn to analyse Banaras Beads Limited
Guides on how to read this kind of business and the numbers that matter.