Is Bihar Sponge Iron Ltd (BIHARSPONG) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bihar Sponge Iron Ltd is a below average quality company .

Is Bihar Sponge Iron Ltd (BIHARSPONG) undervalued or overvalued?

The key valuation ratios of Bihar Sponge Iron Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Bihar Sponge Iron Ltd (BIHARSPONG) share price return in the past 10 years?

Bihar Sponge Iron Ltd share price has appreciated 19.8% annually (CAGR) over the past ten years.

Is Bihar Sponge Iron Ltd (BIHARSPONG) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bihar Sponge Iron Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Bihar Sponge Iron Ltd (BIHARSPONG)?

Company share prices are keep on changing according to the market conditions. The current trading price of Bihar Sponge Iron Ltd (BIHARSPONG) on 17-Apr-2026 16:59:59 at 16:59 is 15.22.

What is the market cap of Bihar Sponge Iron Ltd (BIHARSPONG)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Apr-2026 at 16:59, the market cap of Bihar Sponge Iron stood at Rs. 137.29 Cr.

What is the P/E ratio of Bihar Sponge Iron?

The latest standalone P/E ratio of Bihar Sponge Iron as of 17-Apr-2026 is 10.22.

What is the P/B ratio of Bihar Sponge Iron Ltd (BIHARSPONG)?

The latest standalone P/B ratio of Bihar Sponge Iron Ltd (BIHARSPONG) as of 17-Apr-2026 is -1.63.

What is the 52-week high and low of Bihar Sponge Iron Ltd (BIHARSPONG)?

The 52-week high of Bihar Sponge Iron Ltd (BIHARSPONG) is Rs. 19.65 and the 52-week low is Rs. 9.15.

What is the TTM revenue of Bihar Sponge Iron Ltd (BIHARSPONG)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bihar Sponge Iron is Rs. 327.05 (Cr.).

Bihar Sponge Iron Ltd (BIHARSPONG) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Bihar Sponge Iron Ltd (BIHARSPONG)
Brand: Bihar Sponge Iron

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	-
Value Creation Index ⓘ	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	0	0	0	0	0	22.1	86.4	463	267	319	327
Sales YoY Gr.	-	-100%	NA	NA	NA	NA	291.1%	436.3%	-42.5%	19.8%	-
Adj EPS ⓘ	-0.7	-0.4	-0.1	0.1	-0.1	0.5	0.8	1.3	0.8	1.1	1.5
YoY Gr.	-	NA	NA	NA	-200%	NA	70.2%	66.3%	-37.6%	27.7%	-
BVPS (₹) ⓘ	-13.7	-14.2	-14.2	-14.2	-14.3	-14.6	-15.5	-14.7	-12.8	-10.4	-9.3
Adj Net Profit ⓘ	-5.9	-3.3	-0.5	0.8	-0.8	4.2	7.3	12	7.4	9.6	13
Cash Flow from Ops. ⓘ	-0.8	-2.8	0.4	-0.2	1	9.9	23.3	-15.5	19.2	8.2	-
Debt/CF from Ops. ⓘ	-120	-46.9	252	-534.5	96.8	8.9	3.8	-7	4.8	10	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	180.2%	NA	54.6%	19.8%
Adj EPS ⓘ	NA	NA	9.8%	27.7%
BVPSⓘ	NA	NA	NA	NA
Share Price	19.8%	38%	19.1%	16.5%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	7.4	3.9	0.5	-0.9	0.9	-4.9	-9.1	-17.4	-12.5	-18.9	-15.1
Op. Profit Mgn % ⓘ	-10547.7	0	0	0	0	24	3.5	3.1	-5.2	-4.9	-4
Net Profit Mgn % ⓘ	-16869.5	0	0	0	0	19.1	8.4	2.6	2.8	3	4.1
Debt to Equity ⓘ	-0.8	-1	-0.7	-0.7	-0.7	-0.7	-0.6	-0.8	-0.8	-0.9	-
Working Cap Days ⓘ	1,38,102	0	0	0	0	158	121	43	104	85	44
Cash Conv. Cycle ⓘ	67,487	0	0	0	0	-152	-79	-31	-24	-15	-6

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 54.63%

Sales growth is good in last 4 quarters at 17.81%

Return on Equity is Poor

Net Profit has been subdued in last 3 years 9.83%

	Standalone	Consolidated
TTM EPS (₹)	1.5	-
TTM Sales (₹ Cr.)	327	-
BVPS (₹) ⓘ	-9.3	-
Reserves (₹ Cr.) ⓘ	-166	-
P/BV ⓘ	-1.63	-
PE ⓘ	10.22	-

From the Market
52 Week Low / High (₹)	9.15 / 19.65
All Time Low / High (₹)	0.33 / 61.00
Market Cap (₹ Cr.)	137
Equity (₹ Cr.)	90.2
Face Value (₹)	10
Industry PE ⓘ	38.7

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	0	0	0	0	0	22	86	463	267	319
Operating Expenses ⓘ +	4	3	3	3	3	17	83	449	280	335
Manufacturing Costs	0	0	0	0	0	1	8	30	24	24
Material Costs	0	0	0	0	0	13	68	404	237	292
Employee Cost	2	2	2	2	2	2	2	2	2	2
Other Costs ⓘ	2	1	1	1	1	1	5	14	17	17
Operating Profit ⓘ	-4	-3	-3	-3	-3	5	3	14	-14	-15
Operating Profit Margin (%)	-10,547.7%	-	-	-	-	24.0%	3.5%	3.0%	-5.2%	-4.8%
Other Income ⓘ +	2	2	7	9	6	2	8	2	26	30
Exceptional Items ⓘ	0	1	1	-1	0	-0	0	0	0	0
Interest ⓘ	0	0	0	0	0	0	0	0	0	0
Depreciation ⓘ	4	4	4	4	3	3	3	4	4	4
Profit Before Tax ⓘ	-6	-4	-0	-0	-1	4	8	12	7	10
Tax ⓘ	0	0	0	0	0	0	0	0	0	0
Profit After Tax	-6	-4	-0	-0	-1	4	8	12	7	10
PAT Margin (%)	-16,869.5%	-	-	-	-	17.9%	9.6%	2.6%	2.8%	3.3%
Adjusted EPS (₹)	-0.7	-0.4	-0.0	-0.0	-0.1	0.4	0.9	1.4	0.8	1.2
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	-83	-87	-87	-87	-88	-84	-75	-63	-56	-45
Share Capital ⓘ	90	90	90	90	90	90	90	90	90	90
Reserves ⓘ	-173	-177	-177	-177	-178	-174	-166	-153	-146	-136
Debt +	66	62	62	62	61	55	56	87	85	82
Long Term Debt	66	62	62	62	61	55	56	87	85	82
Short Term Debt	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	20	17	15	9	8	14	85	71	100	51
Others Liabilities ⓘ	83	81	78	78	77	79	78	69	53	43
Total Liabilities ⓘ	86	73	68	63	58	65	143	164	182	132
Fixed Assets
Net Fixed Assets ⓘ +	61	57	52	48	45	42	61	57	53	50
Gross Block	315	315	315	314	314	314	321	321	321	318
Accumulated Depreciation	254	258	262	266	269	272	259	263	268	269
CWIP ⓘ	3	3	3	3	3	3	0	2	3	5
Investments ⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	7	6	6	5	4	3	42	64	88	41
Trade Receivables	0	0	0	0	1	2	0	0	0	12
Cash Equivalents	7	1	1	1	1	1	3	3	4	2
Others Assets ⓘ	7	6	6	6	6	14	36	38	34	22
Total Assets ⓘ	86	73	68	63	58	65	143	164	182	132

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-1	-3	0	-0	1	10	23	-16	19	8
PBT ⓘ	-6	-4	-0	-0	-1	4	8	12	7	10
Adjustment ⓘ	4	3	2	1	2	4	2	14	14	12
Changes in Working Capital ⓘ	1	-2	-1	-1	0	2	14	-41	-2	-14
Tax Paid ⓘ	-0	0	-0	-0	-0	-0	-0	-1	-0	-1
Cash Flow From Investing Activity ⓘ +	1	1	0	0	0	-0	-18	-2	-2	-0
Capex	-0	-0	0	0	0	-0	-18	-2	-2	-1
Net Investments	0	0	0	0	0	0	0	0	0	0
Others ⓘ	1	1	0	0	0	0	0	0	0	0
Cash Flow From Financing Activity ⓘ +	-3	-4	-0	0	-1	-9	-2	17	-17	-9
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	-1	-5	1	20	-2	-3
Interest Paid ⓘ	-0	-0	-0	-0	-0	-4	-3	-3	0	0
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	-3	-4	0	0	0	0	0	0	-15	-6
Net Cash Flow ⓘ	-3	-6	0	0	-0	0	2	-1	1	-1

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
ROCE (%)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Asset Turnover Ratio	0	0	0	0	0	0.42	0.98	3.56	1.81	2.33
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	2.5	2.88	-1.33	2.71	0.8
Working Capital Days
Receivable Days	0	0	0	0	0	21	4	0	0	6
Inventory Days	0	0	0	0	0	46	81	36	89	64
Payable Days	0	0	0	0	0	314	266	70	130	95

About Bihar Sponge Iron Ltd

Bihar Sponge Iron (BSIL) was incorporated on April 16, 1982. It is an Indo German venture of Modi Industries, and associates along with the Bihar State Industrial Development Corporation as Indian promoters, where as Lurgi GmbH of Frankfurt, Federal Republic of Germany and DEG-Cologne, Federal Rederal Republic of Germany as foreign promoters.

Commercial production of the company commenced in July 1989 at its sponge iron manufacturing facility at Chandil, district Singbhum in Bihar. The implementation of this massive project started in June 1986 and was completed in record time with the starting of commercial production in 1989.

Sponge Iron is used as a raw material for making steel in electric arc furnaces and induction furnaces, substituting and supplementing indigenous and imported scrap.

Modi Group is one of the select business houses in the country which has and continues to build collaborations with leading multinationals in a diverse range of activities. Whether it is sugar or rubber, tough steel or delicate threads, hi-tech computers or life saving medicines.

The Companyâ€™s principal activity is to manufacture and market sponge iron. The sponge iron is used by secondary steel producers for producing long products for meeting the demand of the construction and infrastructure sectors. Primary steel producers also use sponge iron to improve productivity and reduce the coke consumption.

BSIL is the first commercial sponge iron plant in India and is also recognised as the most efficient coal-based plant in India. The plant is located at Umesh Nagar, Chandil, in district Singhbhum, which is 30 kms from Jamshedpur. Chandil is a known backward tribal area in the state of Bihar, where the unit produces Sponge Iron from indigenous iron ore and non-coking coal available abundantly in the vicinity.

Recent development

Board for Industrial and Financial Reconstruction (BIFR) vide letter dated April 30, 2009 has withdrawn the nomination of Rishabh Jain from the Board of Directors of the Company.

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Bihar Sponge Iron Ltd (BIHARSPONG) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Bihar Sponge Iron Share Price