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Bharat Bijlee Limited (503960) Fair Value & Analysis

Industrial Goods · IN · Market cap ₹3.8B

BB Bharat Bijlee Limited 503960 · BSE
Price₹2,334
Fair Value₹4,020
Upside+72.3%
Quality42/100
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Healthy Growth
Thin margins · 3.5% net margin
Low debt
2.91% dividend yield
Narrow moat 33/100
Evidence: High Range ₹2,604 – ₹5,025 Share as image

Fair value as of: Aug 15, 2026

From 26 valuation models · updated 4 days ago

Share price −12.3% over the past month.

Below-average quality, screening 72% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (₹2,604). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (₹2,604 to ₹5,025) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹5,331 ₹506.45 Fair Value ₹4,020 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.

How to read this chart

60‑month range ₹506.45 – ₹5,331 · fair‑value band ₹2,604 – ₹5,025 · the ₹2,334 price screens below the ₹4,020 fair value. Dashed = 300-day average. As of Aug 15, 2026.

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Analysis

Bharat Bijlee Limited (503960) currently trades at ₹2,334, while our model-based Fair Value estimate is ₹4,020, implying the stock looks roughly 72.3% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrial Goods sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Bharat Bijlee Limited generated revenue of ₹7.3B at a net margin of 3.5%. Revenue declined 25.8% year over year. It earns a return on equity of 3.1%. The stock trades on a trailing P/E of 19.1 (as of Aug 15, 2026). Fundamentals as of Aug 15, 2026

Our scenario range runs from ₹2,604 (bear case) to ₹5,025 (bull case); at ₹2,334, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 31% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrial Goods peers we cover trades at -55% fair-value upside, at 72%, 503960 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹3,148 ₹5,602 ₹9,705 80
Residual Income ₹2,721 ₹2,827 ₹2,950 76
Rev-Margin DCF ₹2,669 ₹4,683 ₹7,393 74
All 26 models by family
DCF Models
FCF DCF ₹3,211 ₹6,018 ₹10,966 38
Owner Earnings ₹2,702 ₹5,061 ₹9,220 31
5Y Revenue Exit ₹2,669 ₹4,743 ₹7,609 39
5Y EBITDA Exit ₹2,880 ₹5,193 ₹8,158 41
5Y P/E Exit ₹3,401 ₹6,310 ₹9,745 38
10Y Revenue Exit ₹2,743 ₹4,786 ₹8,037 36
10Y EBITDA Exit ₹2,963 ₹5,115 ₹8,503 37
10Y P/E Exit ₹3,307 ₹5,933 ₹9,851 35
Earnings-Based
Graham-Dodd ₹1,608 ₹8,463 ₹11,714 54
Lynch FV ₹2,326 ₹3,323 ₹4,319 50
PEG = 1.0 ₹2,326 ₹3,323 ₹4,319 46
EPV ₹2,034 ₹2,353 ₹2,628 59
Dividend Discount
Gordon GGM ₹265.42 ₹528.87 ₹800.86 70
DDM Multi-Stage ₹265.42 ₹457.06 ₹558.26 61
Multiples
P/E Multiple ₹3,725 ₹4,966 ₹6,208 63
P/S Multiple ₹3,015 ₹4,020 ₹5,025 58
P/B Multiple ₹3,015 ₹4,020 ₹5,025 55
EV/EBIT ₹3,372 ₹4,491 ₹5,610 53
EV/EBITDA ₹2,915 ₹3,882 ₹4,848 54
EV/Revenue ₹2,411 ₹3,438 ₹4,465 43
Asset-Based
NCAV (Graham) ₹1,717 ₹2,301 ₹3,435 50
Growth DCF
Growth DCF ₹3,148 ₹5,602 ₹9,705 80
Rev-Margin DCF ₹2,669 ₹4,683 ₹7,393 74
Economic Profit
Residual Income ₹2,721 ₹2,827 ₹2,950 76
ROIC Compounder ₹2,034 ₹2,353 ₹2,628 72
Growth Earnings
Growth-Adj P/E ₹3,456 ₹4,937 ₹6,418 68

Widest divergence: DCF Models (₹5,115) versus Dividend Discount (₹457.06). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹7.3B
Revenue growth (YoY) -25.8%
Net margin 3.5%
Return on equity 3.1%
P/E ratio 19.1 as of Aug 15, 2026
Operating margin 4.3%
More key figures
EPS (TTM) ₹45.07
Dividend yield 2.9%
EPS growth (YoY) -10.8%

Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 45 · Market factors (momentum, volatility) 39

Profitability 40
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Bharat Bijlee Limited operates as an electrical engineering company in India. It operates through two segments, Power Systems and Industrial Systems.

Full company description

Bharat Bijlee Limited operates as an electrical engineering company in India. It operates through two segments, Power Systems and Industrial Systems. The company offers transformers, such as sub-station, generator, unit auxiliary, and single phase traction transformers; three phase squirrel cage induction motors; gearless belt machines for passenger lifts and elevators; gearless machines for home elevators, heavy duty goods, and heavy goods lifts; and AC drives, servo drives, and motion controllers. It also undertakes design, engineering supply, installation, testing, and commissioning of turnkey electrical projects for customers in cement, power plant, steel, paper, textiles and fibers, public undertakings, and automobile sectors. The company also exports its transformers to Indonesia, the Philippines, the United Arab Emirates, Egypt, Jordan, Oman, Bangladesh, and Nepal. Bharat Bijlee Limited was founded in 1946 and is headquartered in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bharat Bijlee Limited reported revenue of ₹19.0B in FY2025 versus ₹7.3B in FY2021, a compound +27.0%/yr. Reported net income was ₹1.3B in FY2025, compounding +50.5%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
₹19.0B
Latest YoY
+1.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.4%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.2%
Revenue +27.0%/yr
FY21 ₹7.3B
FY22 ₹12.7B
FY23 ₹14.2B
FY24 ₹18.7B
FY25 ₹19.0B
Net income +50.5%/yr
FY21 ₹260M
FY22 ₹556M
FY23 ₹832M
FY24 ₹1.3B
FY25 ₹1.3B

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Cite: Fair Value Calculator (2026). "Bharat Bijlee Limited Fair Value". https://www.fairvalue-calculator.com/stock/503960

Peer Group

Industrials · 5383 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Diversified Machinery” was too small, so the broader sector is used.)

Quality Score 41 · Bottom 25%
Fair Value upside +76% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth -26% · Bottom 25%
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Industrials median · lower = cheaper

P/E (TTM) 19.1× · Cheaper than median
P/B 0.19× · Cheaper than 75% of peers
P/S (TTM) 0.52× · Cheaper than median
EV/EBITDA 9.6× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Diversified Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).

Stock Price Fair Value vs Fair Value
Siemens Limited 500550 ₹4,019 ₹892.67 -78%
Thermax Limited 500411 ₹4,086 ₹679.90 -83%
GMM Pfaudler Limited 505255 ₹1,045 ₹247.43 -76%
ELGI Equipments Limited 522074 ₹609.05 ₹194.23 -68%
Suzlon Energy Limited 532667 ₹48.92 ₹25.61 -48%
Yuken India Limited 522108 ₹845.70 ₹381.13 -55%
Disa India Limited 500068 ₹11,544 ₹6,266 -46%
Axtel Industries Limited 523850 ₹408.80 ₹326.63 -20%
Mazda Limited 523792 ₹230.65 ₹683.34 +196%
Singer India Limited 505729 ₹85.02 ₹37.62 -56%

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Frequently asked questions

Is Bharat Bijlee Limited (503960) overvalued or undervalued?
As of Aug 15, 2026, our model estimates a fair value of ₹4,020 versus a price of ₹2,334, about +72% (undervalued).
What is the fair value of 503960?
Our model-based fair value for Bharat Bijlee Limited is ₹4,020 (as of Aug 15, 2026), built from audited fundamentals. The current price is ₹2,334.
What is the quality score of 503960?
Bharat Bijlee Limited has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bharat Bijlee Limited (503960)?
Bharat Bijlee Limited reported trailing-twelve-month revenue of about ₹7.3B (latest available figure, as of Aug 15, 2026).
What is the net profit margin of 503960?
The net profit margin of Bharat Bijlee Limited is about 3.5%, meaning it keeps roughly 3.5% of revenue as net income. Based on the latest reported figures.
Does Bharat Bijlee Limited pay a dividend?
Bharat Bijlee Limited currently shows a dividend yield of about 2.91% relative to its recent price (as of Aug 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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