BHAGYANGR
Bhagyanagar India share price & financials
- Price
- ₹401.05
- Market cap
- ₹1.2k Cr
- Sector
- Metals & Mining
- Calls analysed
- 4
Bhagyanagar India Limited Q1 FY27
What went well
- Revenue of over ₹700 crores achieved in Q1 FY27.
- EBITDA margin of 5.43% is the highest in recent times, growing 10.38% over last quarter and 63% over Q1 last year.
- PAT margin of 2.87% is the highest, growing 14% over last quarter and 84% over Q1 last year, with PAT at ₹20 crores.
What to watch
- Sales volumes dropped to 5,200 tons, a 9.5% decrease from last quarter and 6.5% decrease from last year, due to trade route disruptions in April and May.
- A GST impact of ₹17-18 crores was deposited due to input credit reversal from a supplier whose registration was retrospectively cancelled, though management is confident of winning the case.
What Bhagyanagar India Limited does
Bhagyanagar India Limited manufactures a wide range of copper products - rods, strips, pipes, bus bars (including silver-plated and tinned variants), enamelled wires, foils, tapes, transformer windings and PV interconnect ribbons - at two ISO-certified plants on a 60-acre integrated site in Hyderabad. It supplies these largely to OEMs across power distribution, transformers, switchgear, automotive electricals, electronics and solar sectors, with a small export presence. The company is also backward-integrating into scrap sourcing and running an in-house plastic/aluminium recycling operation on cable waste, and is demerging its non-core real estate assets into a separate entity so the copper business can focus solely on manufacturing.
Segments
- Copper manufacturing
- Recycling (plastic and aluminium)
- Real estate
- Installed capacity
- 35,000 MT/year (copper), expanded from 30,000 MT
- Manufacturing plants
- 2 ISO-certified plants on a 60-acre integrated site (Hyderabad)
- Production volume (FY26)
- 24,654 MT
- Customer base
- 500+ clients pan-India
- Product portfolio breadth
- 15+ copper product lines (bus bars, wires, rods, strips, foils, tapes, tubes, transformer windings, PV ribbons)
- Value-added product (VAP) mix
- ~59-62% of volume (FY26)
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 2 delivered 2 missed 15 open- Overall Capacity delivered said Q2 FY26 Promised: additional 5,000 tons in terms of the overall capacity immediately Q1 FY27: Management confirmed the 35,000 metric tons capacity is now online. This promise remains achieved.
- Lead Recycling Plant Live went quiet said Q2 FY26 Promised: expecting that to come only by end of FY27 Q1 FY27: No mention in Q1 FY27. This is the second consecutive quarter the topic has been ghosted.
- Revenue Growth revised down said Q3 FY26 Promised: roughly 35-40% this year, and next year, at least 25% growth Q1 FY27: Management revised FY27 volume growth guidance down to 12-15% from the previously guided 20% (in Q4) and the original >25% revenue growth target. This is a downward revision due to Q1 disruptions.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 15.7%, net profit down 81.9% 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 | 3 | 0 | 1 | 2 | 2 −10% | 1 +131% | 1 −11% | 2 −16% |
| EBITDA | 1 | -0 | 0 | -1 | 2 +133% | 0 +171% | 1 +833% | 0 +104% |
| Net profit | 0 | 0 | 1 | 1 | 1 +207% | 0 −70% | 0 −87% | 0 −82% |
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 +367.5% 1Y
1Y: ₹90.39 on 10 Sept 2025 → ₹422.55. High ₹432.2 (10 Sept 2026), low ₹90.22 (11 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- −4.8%
- 30 Jul
- Q4 FY26
- +4.5%
- 2 May
- Q3 FY26
- −5.0%
- 31 Jan
- Q2 FY26
- +1.0%
- 13 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.
Financials, as filed
Revenue fell 85.0% a year over 3 years, FY23 to FY26. Operating margin widened to 16.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.7k Cr | ₹725 Cr | ₹5 Cr | ₹6 Cr |
| Operating profit | ₹27 Cr | ₹9 Cr | ₹1 Cr | ₹1 Cr |
| Operating margin | 1.6% | 1.2% | 14.2% | 16.0% |
| Interest | ₹13 Cr | ₹5 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹4 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr |
| Net profit | ₹8 Cr | ₹39 Cr | ₹1 Cr | ₹2 Cr |
| Net margin | 0.5% | 5.4% | 27.7% | 37.6% |
| ROCE | 7.0% | 4.3% | 0.5% | 2.0% |
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 | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr |
| Reserves | ₹118 Cr | ₹122 Cr | ₹128 Cr | ₹168 Cr | ₹220 Cr | ₹171 Cr |
| Borrowings | ₹102 Cr | ₹101 Cr | ₹117 Cr | ₹7 Cr | ₹369 Cr | ₹1 Cr |
| Other liabilities | ₹12 Cr | ₹25 Cr | ₹45 Cr | ₹0 Cr | ₹95 Cr | ₹7 Cr |
| Total liabilities | ₹238 Cr | ₹255 Cr | ₹297 Cr | ₹181 Cr | ₹690 Cr | ₹185 Cr |
| Fixed assets | ₹42 Cr | ₹38 Cr | ₹36 Cr | ₹25 Cr | ₹77 Cr | ₹20 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹36 Cr | ₹0 Cr | ₹37 Cr |
| Other assets | ₹176 Cr | ₹196 Cr | ₹240 Cr | ₹120 Cr | ₹614 Cr | ₹129 Cr |
| Total assets | ₹238 Cr | ₹255 Cr | ₹297 Cr | ₹181 Cr | ₹690 Cr | ₹185 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.
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Bhagyanagar India Limited
Guides on how to read this kind of business and the numbers that matter.