BPL
BPL financials
- Market cap
- ₹227 Cr
- Sector
- Consumer Durables
What BPL Limited does
BPL Limited runs two operating businesses: an in-house Printed Circuit Board (PCB) manufacturing division making single-side, double-side and multi-layer boards for automotive, power electronics, EV, telecom, medical and LED-lighting customers; and a Consumer Electronics & Durables business that designs and sells BPL-branded LED televisions, refrigerators, washing machines, air conditioners, air coolers, small kitchen appliances, personal grooming devices, audio equipment, fans, LED lighting and geysers. Since a 2020 licensing agreement, BPL's consumer electronics range is manufactured/sourced and sold with the sales and marketing support of Reliance Retail, reaching metros and Tier 2/3 cities across India.
Segments
- Printed Circuit Boards (PCB)
- Consumer Electronics & Durables
- Manufacturing plants
- 2 (Palakkad, Kerala – BPL Works; Doddaballapur, Karnataka – PCB factory)
- Consumer electronics SKUs
- 200+
- Consumer products sold (FY24)
- ~1.25 crore units
- PCB production volume (FY24)
- 223,334 sq. mtrs (up from 204,866 sq. mtrs in FY23)
- PCB customer segments served
- Automotive, Power Electronics, EV, Telecom, Consumer Electronics, Medical Electronics, LED Lighting, EMS
- New PCB customers added (FY24)
- 24
Quarterly results
Q1 FY27: revenue up 9.8%, net profit down 229.7% 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 | 21 | 19 | 19 | 19 | 20 −5% | 19 −1% | 20 +5% | 21 +10% |
| EBITDA | 5 | 1 | 2 | 3 | 0 −90% | 0 −49% | -9 −616% | -3 −187% |
| Net profit | 4 | 0 | -18 | 3 | -0 −105% | 0 −45% | -11 +36% | -4 −230% |
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 −45.1% 1Y
1Y: ₹84.29 on 10 Sept 2025 → ₹46.3. High ₹86.44 (19 Sept 2025), low ₹38.17 (30 Mar 2026).
Financials, as filed
Revenue grew 14.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to -6.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹52 Cr | ₹67 Cr | ₹78 Cr | ₹78 Cr |
| Operating profit | ₹6 Cr | ₹15 Cr | ₹12 Cr | ₹-5 Cr |
| Operating margin | 12.5% | 23.1% | 15.5% | -6.2% |
| Interest | ₹1 Cr | ₹1 Cr | ₹2 Cr | ₹1 Cr |
| Depreciation | ₹1 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Net profit | ₹5 Cr | ₹14 Cr | ₹0 Cr | ₹-9 Cr |
| Net margin | 9.1% | 21.2% | 0.1% | -11.0% |
| Cash from operations | ₹6 Cr | ₹7 Cr | ₹9 Cr | ₹-86 Cr |
| Free cash flow | ₹2 Cr | ₹1 Cr | ₹57 Cr | ₹-86 Cr |
| ROCE | 4.0% | 4.0% | 5.0% | -1.0% |
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 | ₹49 Cr | ₹49 Cr | ₹49 Cr | ₹49 Cr | ₹49 Cr | ₹49 Cr |
| Reserves | ₹100 Cr | ₹117 Cr | ₹187 Cr | ₹201 Cr | ₹203 Cr | ₹192 Cr |
| Borrowings | ₹13 Cr | ₹31 Cr | ₹23 Cr | ₹30 Cr | ₹106 Cr | ₹106 Cr |
| Other liabilities | ₹194 Cr | ₹339 Cr | ₹340 Cr | ₹337 Cr | ₹187 Cr | ₹367 Cr |
| Total liabilities | ₹355 Cr | ₹536 Cr | ₹599 Cr | ₹616 Cr | ₹546 Cr | ₹714 Cr |
| Fixed assets | ₹23 Cr | ₹56 Cr | ₹58 Cr | ₹60 Cr | ₹26 Cr | ₹59 Cr |
| Capital work in progress | ₹0 Cr | ₹309 Cr | ₹309 Cr | ₹312 Cr | ₹0 Cr | ₹308 Cr |
| Investments | ₹56 Cr | ₹59 Cr | ₹124 Cr | ₹124 Cr | ₹240 Cr | ₹124 Cr |
| Other assets | ₹277 Cr | ₹113 Cr | ₹108 Cr | ₹121 Cr | ₹280 Cr | ₹222 Cr |
| Total assets | ₹355 Cr | ₹536 Cr | ₹599 Cr | ₹616 Cr | ₹546 Cr | ₹714 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
The ownership split has held steady since Jun 2025. The shareholder count grew 5% to 44,893.
- Promoters
- 63.1%
- Public
- 36.9%
Since Jun 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 63.1%, Public 36.9%.Dec '23: Promoters 63.1%, FIIs 0.0%, Public 36.8%.Mar '24: Promoters 63.1%, FIIs 0.0%, Public 36.9%.Jun '24: Promoters 63.1%, FIIs 0.2%, Public 36.7%.Sep '24: Promoters 63.1%, Public 36.9%.Dec '24: Promoters 63.1%, FIIs 0.0%, Public 36.9%.Mar '25: Promoters 63.1%, FIIs 0.0%, Public 36.8%.Jun '25: Promoters 63.1%, Public 36.9%.Sep '25: Promoters 63.1%, FIIs 0.0%, Public 36.8%.Dec '25: Promoters 63.1%, FIIs 0.1%, Public 36.8%.Mar '26: Promoters 63.1%, FIIs 0.0%, Public 36.8%.Jun '26: Promoters 63.1%, Public 36.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of BPL Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Electro Investment | 48.21% | unchanged |
| Merino Finance | 6.28% | unchanged |
| E R Computers | 3.08% | unchanged |
| Nambiar International Investment | 2.92% | unchanged |
| Ajit Gopalan Nambiar | 2.42% | unchanged |
| Anju Chandrasekhar | 0.15% | unchanged |
| Thankam Nambiar | 0.04% | unchanged |
| Meena Nambiar | 0.01% | unchanged |
| Dynamic Electronics Limited | 0.01% | 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.
Learn to analyse BPL Limited
Guides on how to read this kind of business and the numbers that matter.