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    Bharat Seats Limited

    Maruti Suzuki-Toyo Seat JV making automotive seats and seat systems from 6 plants in Haryana and Gujarat

    Automobile and Auto Components
    Consumer Discretionary
    ₹191.31
    +4.10% from avg

    Overview

    Price

    ₹191.31

    Market Cap

    ₹1.4k Cr

    Sector

    Automobile and Auto Components

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital66666131313
    Reserves107110121140161182194217
    Borrowings40353966160152132110
    Other Liabilities89140171146179301354397
    Total Liabilities242291337358505648693737
    AssetsFixed Assets150126147199276283367356
    CWIP22308124990612
    Investments00000000
    Other Assets69135182147181275320369
    Total Assets242291337358505648693737

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating35281916435796107
    Cash from Investing-24-34-12-15-59-73-68-47
    Cash from Financing-4-3-7-21716-25-47
    SummaryCapital Expenditure
    Free Cash Flow10-670-17-162859
    FCF Margin

    Valuation

    Assumptions

    Current — BHARATSE
    Price
    ₹191
    EPS (TTM)
    ₹6.73
    PE (TTM)
    28.4
    Profit growth
    25.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (20.9×) and current (28.4×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹191
    vs
    Fair value · 15% return
    ₹204
    7%Undervalued

    At 25.6% growth and a 21× exit, ₹191 only delivers your return if you pay ₹204. The price is currently baking in 24% growth.

    EPS grows 25.6%/yr for 5 years, then fades to 6% over 2, exits at 21×.

    YearGrowthEPS (₹)
    FY2725.6%8.45
    FY2825.6%10.62
    FY2925.6%13.33
    FY3025.6%16.75
    FY3125.6%21.04
    FY3215.8% ·fade24.36
    FY336.0% ·fade25.82

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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