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10 Yrs X-Ray 
Valuation 
Analyst Note 
Qtr. Results 
Financials 
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About
Bharat Seats Ltd (BHARATSE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523229 NSE: BHARATSE Auto Ancillary | Small Cap | Bharat Seats Share Price
₹214.20 5.20 (2.49%)
As on 18-Sep'26 16:59
Bharat Seats Ltd (BHARATSE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523229 NSE: BHARATSE Auto Ancillary | Small Cap | Bharat Seats Share Price
₹214.20 5.20 (2.49%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,345 Cr.
Current Price
₹214.2
52-Week Low / High
₹133 / 264
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
49.2
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
51.37%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
74.66%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
-
Equity
₹12.6 Cr.
Face Value
₹2
All Time Low / High
₹0.45 / 263.55
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Bharat Seats Ltd a good quality company?
Bharat Seats Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Bharat Seats Ltd performance compare with that of its Peers?
Revenue growth of Bharat Seats Ltd vs industry peers?
Bharat Seats Ltd revenue CAGR is %, compared to the industry median CAGR of 0.00%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Bharat Seats Ltd?
Promoters hold 74.66% of the Bharat Seats Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Bharat Seats Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 24.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bharat Seats Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 16.8% | 39.4% | 27.9% | 11% | 7.4% | 12.6% | 18% | 17.9% | 19.9% | 24.5% | - |
| Value Creation Index ⓘ | 0.2 | 1.8 | 1.0 | -0.2 | -0.5 | -0.1 | 0.3 | 0.3 | 0.4 | 0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 840 | 970 | 904 | 589 | 548 | 818 | 1,051 | 1,067 | 1,289 | 1,951 | 2,102 |
| Sales YoY Gr. | - | 15.5% | -6.9% | -34.9% | -7% | 49.3% | 28.6% | 1.5% | 20.8% | 51.4% | - |
| Adj EPS ⓘ | 2 | 4.5 | 3.5 | 2 | 0.7 | 1.9 | 3.4 | 4 | 5.2 | 6.9 | 7.4 |
| YoY Gr. | - | 130.5% | -23.1% | -42.7% | -64% | 162.5% | 81.5% | 15.5% | 32.1% | 32.5% | - |
| BVPS (₹) ⓘ | 9.9 | 13.8 | 16.7 | 18 | 18.6 | 20.2 | 23.3 | 26.6 | 31 | 36.6 | 38.7 |
| Adj Net Profit ⓘ | 12.4 | 28.5 | 21.9 | 12.6 | 4.5 | 11.9 | 21.6 | 24.9 | 32.8 | 43.5 | 46 |
| Cash Flow from Ops. ⓘ | 38.5 | 68.5 | 34.7 | 27.7 | 18.8 | 15.6 | 42.5 | 56.7 | 96.1 | 107 | - |
| Debt/CF from Ops. ⓘ | 1.6 | 0.4 | 0.8 | 1.2 | 1.8 | 2.4 | 1.4 | 1.6 | 0.8 | 0.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.8% | 28.9% | 22.9% | 51.4% | ||||
| Adj EPS ⓘ | 15% | 57.3% | 26.4% | 32.5% | ||||
| BVPSⓘ | 15.6% | 14.5% | 16.2% | 18% | ||||
| Share Price | 24.7% | 39.1% | 50.6% | 39.4% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21.4 | 38.3 | 22.9 | 11.6 | 3.9 | 9.8 | 15.8 | 15.9 | 18.2 | 20.5 | 19.6 |
| Op. Profit Mgn % ⓘ | 4.4 | 6.7 | 5.6 | 6.1 | 4.9 | 3.9 | 4.4 | 5.7 | 5.9 | 5.1 | 5 |
| Net Profit Mgn % ⓘ | 1.5 | 2.9 | 2.4 | 2.1 | 0.8 | 1.5 | 2.1 | 2.3 | 2.6 | 2.2 | 2.2 |
| Debt to Equity ⓘ | 1 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 | 0.4 | 0.2 | - |
| Working Cap Days ⓘ | 43 | 45 | 49 | 55 | 67 | 70 | 57 | 56 | 64 | 58 | 29 |
| Cash Conv. Cycle ⓘ | -11 | -13 | -13 | -15 | -10 | 4 | 5 | -1 | -4 | -3 | -5 |
Valuation of Bharat Seats - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
Top 5 Mutual Funds Holding
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Announcements
Bharat Seats Ltd FAQs
The current trading price of Bharat Seats on 18-Sep-2026 16:59 is ₹214.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Bharat Seats stood at ₹1,345.2 Cr
The latest P/E ratio of Bharat Seats as of 17-Sep-2026 is 29.07.
The latest P/B ratio of Bharat Seats as of 17-Sep-2026 is 5.54.
The 52-week high of Bharat Seats is ₹263.6 and the 52-week low is ₹132.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Seats is ₹2,102 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bharat Seats Ltd is a below average quality company.
The key valuation ratios of Bharat Seats Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bharat Seats Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Bharat Seats Ltd
Bharat Seats (BSL) incorporated in 1986, is a joint venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans. The company is in the business of manufacturing complete seating systems and interior components for the automotive and surface transport.
Company has received technical guidance by Houwa Kogyo Co., a leading producer of hi-tech seating system for the automobile industry in Japan, and the main suppliers to Suzuki Motor Corporation.
The factory in Gurgaon houses Polyurethane moulding, seat frame manufacture, final seat assembly and head rest moulding and assembly.
Bharat Seats has set up a manufacturing unit for PU Headrests within its existing plant with a capacity to produce 4 lakh sets per annum. It started commercial production of headrest of international standards of quality commenced in May 1999.
BSL had phased out the use of CFC-11(Cholorofluorocarbons), used as a foam-blowing agent for polyol formation in the manufacturing of moulded Puf cushions.
The company also operates research & development centre which handles projects from the concept stage through modelling, designing prototyping to testing and validation for the final product. The centre has received approval from Ministry of Science and Technology Department of Scientific and Industrial Research.
Products
- Four wheeler seating system
- Two wheeler seating system
- Moulded carpets
- Two wheeler frames and sheet metal components
- Railway seats and berth
- Two wheeler main frame
Milestone
- 1986- Bharat Seats was established as seating system supplier to Maruti
- 1988- Company installed PU seat pad moulding line
- 1999- BSL installed Headrestraint PU pad moulding line installed
- 2000- Company started Suzuki production system techniques and TPM
- 2002- BSL installed PU Seat Pad Robotic line
- 2004- Bharat Seats accredited in-house its testing laboratory
- 2005- It installed an automated carpet moulding line
- 2006 - Company started production of two wheeler seating systems for Suzuki motorcycles
- 2007 - BSL bagged TPM award from JIPM, Japan and two wheeler sheet metal components and frames was introduced
- 2008- Bharat Seats started supplying seating systems to Indian Railways
- 2009- Company executed capacity expansion by setting third PU moulding line.
Award/Recognition
BSL has already received the ISO 9002 and QS 9000 revised version quality systems certification.
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