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Bharat Seats Overview

Bharat Seats Ltd engages inside the manufacture and sale of seating systems and interior components for the automotive and surface shipping industries in India. It offers seating systems for four-wheeler, two-wheeler, and railway chair vehicle; carpets; roof and windshield modelling products; welded frames assemblies for two-wheeler; and extrusion additives for vehicle roof and windshield installation. The business enterprise was integrated in 1986 and is primarily based in New Delhi, India.

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Bharat Seats Key Financials

Market Cap ₹1088 Cr.

Stock P/E 33.3

P/B 5

Current Price ₹173.3

Book Value ₹ 34.5

Face Value 2

52W High ₹239.6

Dividend Yield 0.63%

52W Low ₹ 73.3

Bharat Seats Share Price

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Volume
Price

Bharat Seats Quarterly Price

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Bharat Seats Peer Comparison

Bharat Seats Quarterly Results

#(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 286 250 278 299 291 306 393 427 459 491
Other Income 1 1 1 1 1 1 1 1 3 1
Total Income 287 251 279 300 291 307 394 428 461 492
Total Expenditure 269 235 261 282 273 288 370 405 436 466
Operating Profit 18 16 18 17 18 19 24 23 25 26
Interest 2 2 2 2 2 2 2 3 3 2
Depreciation 6 6 6 6 6 7 7 8 9 9
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 9 8 11 9 10 10 15 12 13 13
Provision for Tax 2 2 2 2 2 3 4 3 3 4
Profit After Tax 7 6 8 7 7 8 11 9 10 10
Adjustments 0 0 0 0 0 0 -0 0 0 -0
Profit After Adjustments 7 6 8 7 7 8 11 9 10 10
Adjusted Earnings Per Share 1.1 0.9 1.3 1.1 1.1 1.2 1.8 1.5 1.6 1.6

Bharat Seats Profit & Loss

#(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 693 700 840 970 904 589 548 818 1051 1067 1289 1770
Other Income 2 2 1 1 5 2 2 5 4 5 4 6
Total Income 695 702 842 971 909 591 550 823 1055 1071 1292 1775
Total Expenditure 661 670 803 906 854 553 521 785 1005 1006 1213 1677
Operating Profit 34 32 38 66 55 38 29 37 50 65 79 98
Interest 6 5 4 3 3 3 4 4 4 8 9 10
Depreciation 16 17 17 19 21 22 18 18 17 24 26 33
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 -1
Profit Before Tax 11 10 17 44 31 12 7 16 30 34 44 53
Provision for Tax 3 3 5 15 10 -0 2 4 8 9 11 14
Profit After Tax 8 7 12 28 21 13 5 12 22 25 33 40
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 8 7 12 28 21 13 5 12 22 25 33 40
Adjusted Earnings Per Share 1.3 1.1 1.9 4.5 3.4 2 0.8 1.9 3.4 4 5.2 6.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 16% 17% 6%
Operating Profit CAGR 22% 29% 16% 9%
PAT CAGR 32% 40% 20% 15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 128% 54% 38% 25%
ROE Average 18% 17% 13% 17%
ROCE Average 20% 19% 15% 18%

Bharat Seats Balance Sheet

#(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 46 53 62 87 105 113 117 127 146 167 195
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 38 22 20 22 20 24 25 33 33 53 50
Other Non-Current Liabilities 22 10 8 14 15 16 9 9 12 72 74
Total Current Liabilities 161 167 175 162 133 89 141 169 167 213 329
Total Liabilities 267 252 265 285 273 242 291 337 358 505 648
Fixed Assets 150 144 146 136 152 150 126 147 199 276 283
Other Non-Current Assets 22 5 2 19 7 30 43 16 27 67 102
Total Current Assets 95 103 117 130 114 62 122 174 132 163 263
Total Assets 267 252 265 285 273 242 291 337 358 505 648

Bharat Seats Cash Flow

#(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 1 1 0 0 2 10 1 1 0 0 0
Cash Flow from Operating Activities 36 34 38 69 35 28 19 16 43 57 96
Cash Flow from Investing Activities -13 -6 -17 -23 -24 -34 -12 -15 -59 -73 -68
Cash Flow from Financing Activities -23 -28 -22 -44 -4 -3 -7 -2 17 16 -25
Net Cash Inflow / Outflow 0 0 0 2 7 -9 -0 -1 0 -0 3
Closing Cash & Cash Equivalent 1 1 0 2 10 1 1 0 0 0 3

Bharat Seats Ratios

# 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) 1.29 1.15 1.94 4.49 3.41 1.99 0.77 1.9 3.43 3.99 5.21
CEPS(Rs) 3.91 3.78 4.66 7.54 6.69 5.57 3.63 4.7 6.15 7.81 9.39
DPS(Rs) 0.45 0.45 0.45 0.5 0.5 0.25 0.25 0.4 0.7 0.8 1.1
Book NAV/Share(Rs) 7.37 8.51 9.89 13.82 16.65 18.04 18.57 20.24 23.3 26.56 30.98
Core EBITDA Margin(%) 4.09 3.73 3.89 6.45 5.49 6.08 4.9 3.93 4.4 5.7 5.85
EBIT Margin(%) 2.25 1.92 2.25 4.66 3.79 2.62 1.99 2.42 3.16 3.87 4.1
Pre Tax Margin(%) 1.46 1.24 1.77 4.34 3.45 2.08 1.21 1.95 2.82 3.15 3.41
PAT Margin (%) 1.04 0.91 1.28 2.82 2.37 2.13 0.88 1.46 2.05 2.35 2.54
Cash Profit Margin (%) 3.14 2.99 3.09 4.72 4.65 5.94 4.16 3.61 3.67 4.6 4.57
ROA(%) 3.1 2.78 4.71 10.27 7.69 4.87 1.8 3.79 6.2 5.81 5.67
ROE(%) 18.46 14.47 21.06 37.9 22.39 11.49 4.18 9.77 15.76 16 18.1
ROCE(%) 12.49 11.43 16.81 39.42 27.92 11.02 7.35 12.61 17.95 17.91 19.94
Receivable days 33.31 36.72 34.08 34.24 34.64 35.31 39.55 43.14 35.98 34.17 42.46
Inventory Days 5.28 5.98 5.74 7.79 9.95 13.16 16.75 18.45 14.21 11.73 13.47
Payable days 51.43 57.58 55.33 60.45 65.96 76.33 79.15 65.64 50.31 53.66 67.73
PER(x) 11.35 15.71 18.43 19.1 13.37 8.88 40.41 17.59 11.83 17.98 14.75
Price/Book(x) 1.99 2.12 3.61 6.21 2.74 0.98 1.67 1.65 1.74 2.7 2.48
Dividend Yield(%) 3.07 2.49 1.26 0.58 1.1 1.41 0.81 1.2 1.72 1.12 1.43
EV/Net Sales(x) 0.26 0.27 0.34 0.58 0.34 0.24 0.41 0.3 0.3 0.5 0.43
EV/Core EBITDA(x) 5.37 5.9 7.45 8.53 5.56 3.79 7.84 6.56 6.23 8.25 7.08
Net Sales Growth(%) 23.82 0.92 20.09 15.45 -6.88 -34.86 -6.95 49.3 28.55 1.5 20.81
EBIT Growth(%) 15.25 -13.47 39.89 119.36 -26.68 -54.9 -29.31 81.53 67.84 24.22 27.78
PAT Growth(%) 21.06 -11.13 68.7 131.78 -24.08 -41.56 -61.61 147.9 80.86 16.28 30.52
EPS Growth(%) 21.05 -11.13 68.7 131.78 -24.08 -41.56 -61.61 147.9 80.86 16.28 30.52
Debt/Equity(x) 1.98 1.4 1.01 0.29 0.27 0.3 0.29 0.29 0.41 0.53 0.41
Current Ratio(x) 0.59 0.62 0.67 0.8 0.86 0.7 0.87 1.03 0.79 0.76 0.8
Quick Ratio(x) 0.52 0.53 0.58 0.63 0.69 0.46 0.66 0.72 0.62 0.58 0.63
Interest Cover(x) 2.83 2.83 4.76 14.58 11.34 4.79 2.56 5.08 9.15 5.34 5.93
Total Debt/Mcap(x) 0.99 0.66 0.28 0.05 0.1 0.3 0.17 0.18 0.23 0.2 0.17

Bharat Seats Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.59 74.59 74.59 74.59 74.59 74.66 74.66 74.66 74.66 74.66
FII 0 0 0 0 0 0 0.03 0.27 0.06 0.15
DII 0.11 0.11 0.11 0.11 0.11 0.11 0.11 0.12 0.21 0.22
Public 25.3 25.3 25.3 25.3 25.3 25.23 25.2 24.94 25.06 24.97
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Bharat Seats News

Bharat Seats Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 53.66 to 67.73days.
  • Stock is trading at 5 times its book value.
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