BEWLTD
BEW Engg financials
- Market cap
- ₹64 Cr
- Sector
- Capital Goods
- Calls analysed
- 3
BEW Engg Q4 FY26
What went well
- FY26 Revenue increased by 38% YoY to INR 185.54 crores, demonstrating strong scale-up in operations.
- H2 FY26 Revenue grew 18.21% YoY to INR 98.44 crores, driven by new customer additions and healthy order execution.
- The company has a confirmed order book of INR 65 crores and a pipeline of INR 200 crores, with an expectation of at least 50% conversion.
What to watch
- H2 FY26 EBITDA was INR 2.09 crores and PAT was INR 2.44 crores, significantly impacted by sharp volatility in raw material prices (stainless steel, Hastelloy).
- FY26 PAT stood at INR 3.78 crores, with an EBITDA margin of 5.18%, reflecting severe margin compression due to input cost pressures and competitive pricing.
What BEW Engg does
BEW Engineering designs and manufactures a wide range of filtration, mixing and drying equipment (Nutsche filters, rotary/rotocone/paddle vacuum dryers, spherical dryers, mixer-dryers, reactors, blenders and tanks) built to order in materials such as stainless steel, Hastelloy, titanium and various linings. Its equipment is used by pharmaceutical, sterile-application, fine chemical, specialty chemical, agrochemical and dyes/food-product manufacturers, with customers including Cipla, Ipca, Lupin, Dr. Reddy's, Sun Pharma, SRF, Mylan and Biocon. The company traces its roots to a partnership firm set up in 1974, was incorporated as BEW Engineering (then BEW Engineers and Works Private Limited) in 2011, and began commercial production in 2013. It earns revenue by designing, custom-manufacturing and installing this project equipment for domestic customers and exporting to select overseas markets.
Segments
- Dryers
- Filters
- Reactors
- Blenders
- Tanks
- Other custom process equipment
- Manufacturing facilities
- 2 (Dombivli, Maharashtra — main plant 4,560 sq. mtrs. since 2011; second facility 2,768 sq. mtrs. acquired 2023)
- Core product lines
- 10 (filters, dryers, mixers and reactors)
- Equipment units delivered
- 280 units (FY26), up from 189 in FY22
- Export markets
- 13 countries (USA, Russia, Turkey, Israel, Saudi Arabia, Nigeria, Brazil, Nepal, Japan, Bangladesh, Thailand, Malaysia, Indonesia)
- Largest equipment manufactured
- 32 KL capacity Agitated Nutsche Filter (ANF), described as world's largest
- Maximum single-unit design capacity
- up to 35,000 litres (Rotary Vacuum Paddle Dryer)
Guidance record · Q4 FY26
what the last two calls moved 13 tracked 2 delivered 4 missed 7 open- Revenue delivered said Q4 FY25 Promised: Rs. 175 Cr this year Q4 FY26: Achieved. Full year FY26 revenue was Rs. 185.54 crores, exceeding the target.
- EBITDA Margin missed said Q4 FY25 Promised: 15% EBITDA Q4 FY26: Missed. Full year FY26 EBITDA margin was 5.18%, significantly below the 15% target due to raw material costs and competition.
- EBITDA Margin revised down said Q4 FY25 Promised: 20-22% EBITDA margin Q4 FY26: Guidance drastically lowered. Management now guides for 8-10% EBITDA margin for FY27, with an aspirational target of 13-14%.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 78.2%, net profit down 122.2% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 48 | 58 | 66 | 55 | 51 +6% | 83 +43% | 87 +32% | 98 +78% |
| EBITDA | 7 | 7 | 8 | 16 | 11 +57% | 10 +43% | 12 +50% | -2 −112% |
| Net profit | 4 | 4 | 4 | 9 | 6 +50% | 6 +50% | 6 +50% | -2 −122% |
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 −68.1% 1Y
1Y: ₹153.1 on 10 Sept 2025 → ₹48.8. High ₹157.75 (15 Sept 2025), low ₹48.3 (1 Sept 2026).
How the price took the results
close before → close after
- Q4 FY26
- −4.1%
- 29 May
- Q2 FY26
- −0.6%
- 20 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹8 Cr | ₹17 Cr | ₹24 Cr | ₹68 Cr | ₹131 Cr | ₹128 Cr |
| Borrowings | ₹29 Cr | ₹27 Cr | ₹42 Cr | ₹66 Cr | ₹63 Cr | ₹63 Cr |
| Other liabilities | ₹34 Cr | ₹47 Cr | ₹60 Cr | ₹29 Cr | ₹44 Cr | ₹65 Cr |
| Total liabilities | ₹73 Cr | ₹94 Cr | ₹129 Cr | ₹166 Cr | ₹251 Cr | ₹269 Cr |
| Fixed assets | ₹11 Cr | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹44 Cr | ₹60 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹13 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹8 Cr | ₹5 Cr | ₹7 Cr |
| Other assets | ₹59 Cr | ₹80 Cr | ₹115 Cr | ₹134 Cr | ₹202 Cr | ₹202 Cr |
| Total assets | ₹73 Cr | ₹94 Cr | ₹129 Cr | ₹166 Cr | ₹251 Cr | ₹269 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 Mar 2026
Since Mar 2025, promoters trimmed −1.71 pp while the public added +1.71 pp. The shareholder count grew 15% to 1,895.
- Promoters
- 46.1%
- Public
- 53.9%
Since Mar 2025
- Promoters −1.71 pp
- Public +1.71 pp
How it drifted, 12 quarters
Over this window promoters fell from 60.6% to 46.1% — −14.4 pp.
Ownership split by quarter, oldest first. Mar '22: Promoters 60.6%, Public 39.4%.Sep '22: Promoters 60.6%, Public 39.4%.Mar '23: Promoters 60.6%, Public 39.4%.Jun '23: Promoters 53.7%, Public 46.3%.Sep '23: Promoters 60.6%, Public 39.4%.Mar '24: Promoters 60.6%, Public 39.4%.May '24: Promoters 47.8%, Public 52.2%.Sep '24: Promoters 47.8%, Public 52.2%.Oct '24: Promoters 47.8%, Public 52.2%.Mar '25: Promoters 47.8%, Public 52.2%.Sep '25: Promoters 47.8%, Public 52.2%.Mar '26: Promoters 46.1%, Public 53.9%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mitali Prakash Lade +9.76 pp 9.76% held
- Rohan Prakash Lad +8.62 pp 22.35% held
- Suryavanshi Commotrade Private Limited +4.84 pp 8.26% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of BEW Engg above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Rohan Prakash Lad | 22.35% | +8.62 pp |
| Sheela Prakash Lade | 14.00% | −20.07 pp |
| Mitali Prakash Lade | 9.76% | +9.76 pp |
| Suryavanshi Commotrade Private Limited | 8.26% | +4.84 pp |
| Madhulika Agarwal | 4.19% | unchanged |
| Hemanth Kumar Chebrolu | 1.78% | unchanged |
| Maya Devi Polycot Limited | 1.18% | −0.09 pp |
| Cks Puja Services Private Limited | 1.08% | unchanged |
| Dar'S Business Finance Pvt Ltd | 1.06% | unchanged |
| Dheeraj Kumar Lohia | 1.01% | unchanged |
| Neeta Chandrakant Lade | 0.00% | unchanged |
| Pallavi Rohan Lade | 0.00% | 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.
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse BEW Engg
Guides on how to read this kind of business and the numbers that matter.