WEBSITE BSE:533270 NSE: BEDMUTHA IN Inc. Year: 1990 Industry: Steel & Iron Products My Bucket: Add Stock
Last updated: 15:46
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1. Business Overview
Bedmutha Industries Ltd. is an Indian company primarily engaged in the manufacturing and processing of various steel and iron products. Operating within the Steel & Iron Products sector, the company's core business model involves converting raw materials (like wire rods) into finished value-added products. It generates revenue by selling these manufactured steel and iron products, likely catering to a diverse clientele across sectors such as infrastructure, construction, automotive, agriculture, and general manufacturing, on a business-to-business (B2B) basis. Specific products could include steel wires, wire mesh, fasteners, or other fabricated metal items.
2. Key Segments / Revenue Mix
Without specific financial data, the exact revenue mix for Bedmutha Industries Ltd. is not available. However, based on its industry, potential segmentation could involve different product categories such as:
Steel Wires: Covering a range of applications (e.g., galvanized wire, barbed wire, high carbon wire).
Wire Mesh: Used in construction, fencing, and industrial applications.
Other Value-Added Steel Products: This could include industrial fasteners, gabions, or specialized fabricated items.
Revenue is primarily derived from the sale of these manufactured goods to various end-user industries.
3. Industry & Positioning
The Indian steel and iron products industry is characterized by a mix of large integrated steel producers and numerous smaller, specialized re-rollers and fabricators. It is highly cyclical, closely tied to economic growth, infrastructure development, and industrial output. Bedmutha Industries Ltd. likely operates as a specialized player within the value-added segment of this industry, focusing on specific product lines like wires or wire mesh rather than primary steel production. Its positioning would depend on factors like product quality, manufacturing efficiency, regional market presence, and customer relationships, competing with both larger diversified players and other specialized manufacturers.
4. Competitive Advantage (Moat)
In the steel and iron products sector, significant durable competitive advantages are challenging for smaller players. Bedmutha's potential competitive advantages could stem from:
Operational Efficiency: Streamlined manufacturing processes and cost control to offer competitive pricing.
Product Specialization & Quality: Developing expertise in specific wire products or mesh, and maintaining consistent quality that meets industry standards or niche customer requirements.
Established Customer Relationships: Long-standing trust and supply agreements with key industrial clients.
Regional Presence: Strong distribution networks or market dominance in specific geographic areas within India.
Brand recognition in B2B heavy industries tends to be less about consumer brand and more about reliability and adherence to specifications.
5. Growth Drivers
Key factors that can drive growth for Bedmutha Industries Ltd. over the next 3-5 years include:
Government Infrastructure Push: Increased spending on roads, railways, ports, and urban development in India, driving demand for steel products.
Construction and Real Estate Growth: Expanding housing and commercial construction activities.
Automotive and Manufacturing Sector Expansion: Growth in these end-user industries requiring steel components and wire products.
Urbanization and Industrialization: Overall economic development and increased industrial output in India.
Product Diversification/Expansion: Introduction of new value-added products or expansion into new markets.
6. Risks
Bedmutha Industries Ltd. faces several risks inherent to its industry:
Commodity Price Volatility: Fluctuations in raw material prices (e.g., wire rods, zinc for galvanization) can impact profitability.
Intense Competition & Pricing Pressure: The fragmented nature of the industry leads to fierce competition, potentially compressing margins.
Economic Downturn: A slowdown in the Indian economy or key end-user sectors (construction, manufacturing) would reduce demand.
Interest Rate Sensitivity: As a manufacturing company, it likely has significant capital expenditure and working capital requirements, making it sensitive to interest rate changes.
Regulatory & Environmental Compliance: Evolving environmental norms and industrial regulations could necessitate additional investments or operational changes.
7. Management & Ownership
Bedmutha Industries Ltd., like many Indian companies, is likely promoter-led, with significant ownership held by the founding family or group. Management quality would depend on their experience in the steel and manufacturing sector, strategic vision, operational expertise, and corporate governance practices. Promoter holding often ensures long-term commitment but can also influence strategic decisions. Specific details on the current management team and their track record would require further analysis.
8. Outlook
Bedmutha Industries Ltd. operates in a sector poised to benefit from India's projected economic growth and government-led infrastructure development. The sustained demand from construction, automotive, and manufacturing sectors provides a strong tailwind for steel and iron product manufacturers. However, the company remains exposed to the inherent cyclicality of the steel industry, marked by volatile raw material prices and intense competition that can impact profitability. Its ability to maintain operational efficiencies, manage input costs, and potentially expand its product portfolio or market reach will be crucial for navigating these challenges and capitalizing on the opportunities presented by India's industrialization.
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Market Cap ₹356 Cr.
Stock P/E 14.4
P/B 2.6
Current Price ₹110.5
Book Value ₹ 42.5
Face Value 10
52W High ₹186
Dividend Yield 0%
52W Low ₹ 94.6
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 199 | 192 | 229 | 243 | 251 | 274 | 282 | 311 | 364 | 357 |
| Other Income | 11 | 14 | 15 | 12 | 18 | 10 | 6 | 1 | 1 | 1 |
| Total Income | 210 | 206 | 244 | 255 | 269 | 284 | 288 | 311 | 365 | 358 |
| Total Expenditure | 191 | 185 | 222 | 232 | 245 | 268 | 272 | 300 | 349 | 346 |
| Operating Profit | 19 | 22 | 23 | 23 | 25 | 16 | 16 | 11 | 15 | 12 |
| Interest | 9 | 8 | 9 | 8 | 9 | 9 | 9 | 9 | 10 | 10 |
| Depreciation | 7 | 7 | 7 | 5 | 5 | 5 | 5 | 6 | 6 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 4 | 6 | 7 | 10 | 11 | 2 | 2 | -3 | -1 | -4 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 4 | 6 | 7 | 10 | 11 | 2 | 2 | -3 | -1 | -4 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 |
| Profit After Adjustments | 4 | 6 | 7 | 10 | 11 | 2 | 2 | -3 | -1 | -4 |
| Adjusted Earnings Per Share | 1.2 | 2 | 2.1 | 3.1 | 3.3 | 0.7 | 0.6 | -1 | -0.3 | -1.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 327 | 501 | 699 | 604 | 491 | 361 | 388 | 660 | 687 | 812 | 1049 | 1314 |
| Other Income | 5 | 5 | 22 | 34 | 29 | 27 | 311 | 58 | 62 | 56 | 47 | 9 |
| Total Income | 332 | 506 | 720 | 638 | 520 | 388 | 700 | 719 | 749 | 868 | 1096 | 1322 |
| Total Expenditure | 311 | 486 | 669 | 642 | 492 | 362 | 405 | 644 | 670 | 786 | 1016 | 1267 |
| Operating Profit | 20 | 19 | 51 | -4 | 29 | 26 | 294 | 75 | 79 | 83 | 80 | 54 |
| Interest | 23 | 41 | 59 | 60 | 65 | 64 | 62 | 32 | 34 | 36 | 36 | 38 |
| Depreciation | 9 | 20 | 28 | 27 | 33 | 33 | 36 | 33 | 32 | 27 | 20 | 23 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -12 | -41 | -36 | -91 | -70 | -71 | 197 | 9 | 13 | 21 | 25 | -6 |
| Provision for Tax | -3 | -1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -8 | -40 | -36 | -91 | -70 | -71 | 196 | 9 | 13 | 21 | 25 | -6 |
| Adjustments | -0 | -0 | -0 | 4 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -9 | -40 | -36 | -87 | -71 | -71 | 196 | 9 | 13 | 21 | 25 | -6 |
| Adjusted Earnings Per Share | -4.1 | -18.9 | -14.7 | -35.4 | -28.7 | -29 | 60.7 | 2.9 | 4 | 6.5 | 7.7 | -1.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 29% | 17% | 24% | 12% |
| Operating Profit CAGR | -4% | 2% | 25% | 15% |
| PAT CAGR | 19% | 41% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -35% | 26% | 37% | 21% |
| ROE Average | 19% | 17% | 13% | -39% |
| ROCE Average | 17% | 15% | 26% | 12% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 121 | 92 | 66 | -21 | -91 | -162 | 77 | 87 | 100 | 120 | 145 |
| Minority's Interest | 7 | 7 | 4 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 189 | 226 | 252 | 248 | 230 | 217 | 208 | 172 | 156 | 148 | 140 |
| Other Non-Current Liabilities | 50 | 35 | 27 | 16 | 17 | 17 | 17 | 23 | 23 | 47 | 91 |
| Total Current Liabilities | 191 | 255 | 326 | 369 | 416 | 407 | 164 | 209 | 221 | 250 | 279 |
| Total Liabilities | 557 | 615 | 675 | 611 | 572 | 479 | 466 | 490 | 499 | 566 | 655 |
| Fixed Assets | 101 | 265 | 241 | 273 | 240 | 208 | 189 | 163 | 144 | 156 | 179 |
| Other Non-Current Assets | 225 | 73 | 128 | 73 | 84 | 84 | 52 | 58 | 51 | 43 | 56 |
| Total Current Assets | 229 | 276 | 306 | 265 | 248 | 187 | 225 | 270 | 305 | 367 | 420 |
| Total Assets | 557 | 615 | 675 | 611 | 572 | 479 | 466 | 490 | 499 | 566 | 655 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 19 | 30 | 19 | 25 | 34 | 13 | 13 | 13 | 10 | 17 | 12 |
| Cash Flow from Operating Activities | 28 | -14 | 29 | 7 | 23 | 77 | 58 | 71 | 72 | 74 | 109 |
| Cash Flow from Investing Activities | -75 | -36 | -30 | -11 | -2 | -3 | -5 | -11 | -8 | -28 | -56 |
| Cash Flow from Financing Activities | 58 | 39 | 6 | 14 | -42 | -74 | -53 | -62 | -57 | -51 | -52 |
| Net Cash Inflow / Outflow | 11 | -11 | 6 | 9 | -21 | 0 | -0 | -3 | 7 | -5 | 1 |
| Closing Cash & Cash Equivalent | 30 | 19 | 25 | 34 | 13 | 13 | 13 | 10 | 17 | 12 | 13 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -4.12 | -18.93 | -14.73 | -35.39 | -28.74 | -29.03 | 60.75 | 2.91 | 4.03 | 6.49 | 7.69 |
| CEPS(Rs) | 0.48 | -9.49 | -3.11 | -26.1 | -15.03 | -15.48 | 71.83 | 13.14 | 13.92 | 14.76 | 13.74 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 56.68 | 42.75 | 27.02 | -8.38 | -37.11 | -66.02 | 23.91 | 26.81 | 30.85 | 37.34 | 45.03 |
| Core EBITDA Margin(%) | 4.39 | 2.59 | 3.9 | -6.05 | -0.13 | -0.29 | -4.4 | 2.47 | 2.43 | 3.23 | 3.2 |
| EBIT Margin(%) | 3.05 | -0.07 | 3.01 | -4.95 | -0.97 | -1.86 | 66.59 | 6.34 | 6.86 | 6.96 | 5.8 |
| Pre Tax Margin(%) | -3.32 | -7.5 | -4.76 | -14.69 | -14.3 | -19.69 | 50.72 | 1.42 | 1.89 | 2.58 | 2.37 |
| PAT Margin (%) | -2.37 | -7.29 | -4.77 | -14.69 | -14.32 | -19.71 | 50.47 | 1.42 | 1.89 | 2.58 | 2.37 |
| Cash Profit Margin (%) | 0.28 | -3.66 | -1.01 | -10.35 | -7.51 | -10.52 | 59.67 | 6.42 | 6.54 | 5.87 | 4.22 |
| ROA(%) | -1.7 | -6.79 | -5.59 | -14.14 | -11.9 | -13.54 | 41.49 | 1.96 | 2.63 | 3.93 | 4.07 |
| ROE(%) | -7 | -38.06 | -46.14 | -397.56 | 0 | 0 | 0 | 11.46 | 13.99 | 19.04 | 18.68 |
| ROCE(%) | 3.23 | -0.09 | 5.12 | -6.61 | -1.08 | -1.76 | 71.19 | 11.23 | 13.21 | 16.01 | 16.95 |
| Receivable days | 54.36 | 53.81 | 53.21 | 58.05 | 44.22 | 47.79 | 52.81 | 33.85 | 34.6 | 39.21 | 42.5 |
| Inventory Days | 74.6 | 62.99 | 48.1 | 40.2 | 24.49 | 36.92 | 37.92 | 28.82 | 36.76 | 30.63 | 23.68 |
| Payable days | 116.05 | 112.62 | 95.82 | 92.52 | 73.82 | 32.85 | 42.72 | 49 | 67.42 | 71.93 | 69.67 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.33 | 24.1 | 15 | 32.93 | 21.1 |
| Price/Book(x) | 0.29 | 0.28 | 1.05 | -1.96 | -0.47 | -0.24 | 0.85 | 2.61 | 1.96 | 5.72 | 3.6 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.78 | 0.68 | 0.63 | 0.81 | 1.1 | 1.47 | 0.92 | 0.74 | 0.63 | 1.12 | 0.69 |
| EV/Core EBITDA(x) | 12.48 | 17.44 | 8.63 | -127.7 | 18.88 | 20.07 | 1.22 | 6.58 | 5.46 | 11.06 | 9.07 |
| Net Sales Growth(%) | 44.58 | 52.99 | 39.55 | -13.5 | -18.71 | -26.54 | 7.64 | 69.99 | 4.03 | 18.23 | 29.23 |
| EBIT Growth(%) | -35.62 | -103.37 | 6281.54 | -234.65 | 84.48 | -40.98 | 3965.1 | -83.82 | 12.57 | 19.99 | 7.61 |
| PAT Growth(%) | -712.41 | -368.39 | 9.44 | -152.26 | 22.6 | -1.08 | 375.66 | -95.22 | 38.74 | 61 | 18.51 |
| EPS Growth(%) | -896.15 | -359.42 | 22.16 | -140.21 | 18.8 | -1 | 309.27 | -95.22 | 38.74 | 61 | 18.51 |
| Debt/Equity(x) | 2.1 | 3.7 | 6 | -23.46 | -5.59 | -3.12 | 3.97 | 3.19 | 2.53 | 1.95 | 1.5 |
| Current Ratio(x) | 1.2 | 1.08 | 0.94 | 0.72 | 0.59 | 0.46 | 1.37 | 1.29 | 1.38 | 1.47 | 1.51 |
| Quick Ratio(x) | 0.72 | 0.7 | 0.62 | 0.63 | 0.52 | 0.36 | 1.13 | 0.98 | 1.04 | 1.22 | 1.24 |
| Interest Cover(x) | 0.48 | -0.01 | 0.39 | -0.51 | -0.07 | -0.1 | 4.2 | 1.29 | 1.38 | 1.59 | 1.69 |
| Total Debt/Mcap(x) | 7.13 | 13.2 | 5.72 | 11.95 | 11.93 | 13.03 | 4.69 | 1.22 | 1.29 | 0.34 | 0.42 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 | 57.05 |
| FII | 0.01 | 0.03 | 0.03 | 0.05 | 0 | 0 | 0.01 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 42.94 | 42.92 | 42.93 | 42.91 | 42.95 | 42.95 | 42.95 | 42.95 | 42.95 | 42.95 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.39 | 1.38 | 1.39 | 1.38 | 1.39 | 1.39 | 1.39 | 1.39 | 1.39 | 1.39 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 | 3.23 |
* The pros and cons are machine generated.
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