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Bhandari Hosiery Exports Limited (512608) Fair Value & Analysis

Consumer Goods · IN · Market cap ₹167M (≈ $1.8M) · ISIN INE474E01029

What is Bhandari Hosiery Exports Limited really worth?

BH Bhandari Hosiery Exports Limited 512608 · BSE
Price₹3.04
Fair Value₹6.40
Upside+110.5%
Quality24/100

Below-average quality, trading 53% below our fair value of ₹6.40.

As of Aug 13, 2026, the fair value of Bhandari Hosiery Exports Limited is ₹6.40 per share against a price of ₹3.04, so the fair value sits 111% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt

Risks

!Weak Growth (revenue 5y +0.1 %/yr)
!Thin margins · 0.8% net margin
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain

For context

·0.33% dividend yield
Evidence: Low Range ₹5.77 – ₹6.88

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 23 days ago

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (24/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (₹5.77). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

₹10.84 ₹1.58 Fair Value ₹6.40 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹1.58 – ₹10.84 · fair‑value band ₹5.77 – ₹6.88 · the ₹3.04 price screens below the ₹6.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Bhandari Hosiery Exports Limited (512608) currently trades at ₹3.04, while our model-based Fair Value estimate is ₹6.40, implying the stock looks roughly 52.5% undervalued today. The Quality Score stands at 24/100 (below-average quality), in the Consumer Goods sector. Bull case: the Multiples group reads highest at a median of ₹11.58 per share, and 13 of the 14 models we run sit above the ₹3.04 price. Bear case: the Economic Profit group reads lowest at ₹6.99, and 1 of the 14 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Bhandari Hosiery Exports Limited generated revenue of ₹2.5B at a net margin of 0.8%. Revenue declined 63.5% year over year. The stock trades on a trailing P/E of 9.2 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹5.77 (bear case) to ₹6.88 (bull case); at ₹3.04, 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 45% below its 52-week high and 50% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Goods peers we cover trades at −63% fair-value upside, at 111%, 512608 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly ₹0.1170 per share, which is 1.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Owner Earnings best evidence ₹5.58 ₹7.81 ₹10.43 77
EPV ₹8.00 ₹9.12 ₹10.03 74
ROIC Compounder ₹8.00 ₹9.12 ₹10.03 72
All 14 models by family
DCF Models
Owner Earnings best evidence ₹5.58 ₹7.81 ₹10.43 77
Earnings-Based
Graham-Dodd ₹3.58 ₹9.11 ₹11.85 65
PEG = 1.0 ₹1.70 ₹2.42 ₹3.15 57
EPV ₹8.00 ₹9.12 ₹10.03 74
Multiples
P/E Multiple ₹8.69 ₹11.58 ₹14.48 63
P/S Multiple ₹6.71 ₹8.95 ₹11.19 58
P/B Multiple ₹6.71 ₹8.95 ₹11.19 55
EV/EBIT ₹18.28 ₹24.81 ₹31.35 66
EV/EBITDA ₹15.96 ₹21.72 ₹27.48 67
EV/Revenue ₹11.88 ₹17.55 ₹23.21 53
Asset-Based
NCAV (Graham) ₹5.23 ₹7.00 ₹10.45 54
Economic Profit
Residual Income ₹7.20 ₹6.99 ₹5.86 71
ROIC Compounder ₹8.00 ₹9.12 ₹10.03 72
Growth Earnings
Growth-Adj P/E ₹6.71 ₹9.58 ₹12.45 67

Widest divergence: Multiples (₹11.58) versus Economic Profit (₹6.99). Highest evidence: Owner Earnings (77).

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Key figures & financial health

P/E ratio 9.2 as of Jul 4, 2026
P/S ratio 0.25 P/E × margin
EPS (TTM) ₹0.1270 price ÷ EPS = P/E 9.2
Dividend yield 0.3% payout 7.9%
Net margin 2.8% FY2025
Return on assets (EBIT) 7.6% avg 5y
More key figures
Profitability
Operating margin 5.2% TTM
Growth
Revenue (TTM) ₹2.5B TTM
Revenue growth (YoY) −63.5% 3y avg −0.6%
EPS growth (YoY) +40.2%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 24/100

Of which business quality 26 · Market factors (momentum, volatility) 23

Profitability 38
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 31
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bhandari Hosiery Exports Limited manufactures and sells textile products in India. The company manufactures and exports knitted hosiery garments, such as T-shirts, pullovers, sweat shirts, bermudas, polo shirts, track suits, pajamas, lowers, ladies knitted tops with embroidery and prints, etc.; and manufactures, processes, and trades in dyed and non-dyed …

Full company description

Bhandari Hosiery Exports Limited manufactures and sells textile products in India. The company manufactures and exports knitted hosiery garments, such as T-shirts, pullovers, sweat shirts, bermudas, polo shirts, track suits, pajamas, lowers, ladies knitted tops with embroidery and prints, etc.; and manufactures, processes, and trades in dyed and non-dyed fabrics. It exports its products to the United States, Germany, Dubai, the United Kingdom, and the European Union. The company was incorporated in 1993 and is based in Ludhiana, India.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bhandari Hosiery Exports Limited reported revenue of ₹2.8B in FY2025 versus ₹2.3B in FY2021, a compound +5.4%/yr. Reported net income was ₹77.1M in FY2025, compounding +46.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 25/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹2.8B
Latest YoY
+4.4%
Avg. revenue 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.
−0.6%
Avg. revenue 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.
+0.1%
Avg. revenue 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.
+8.7%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−4.7% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−5.0%
Dividend yield0.3%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5.9% (2020) → 7.6% (2025) · rising
Worst earnings drop70% (2021) · in INR
⚠ Revenue per share shrinking 4.3%/yr over ~6Y (margins intact) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue +5.4%/yr
FY21 ₹2.3B
FY22 ₹2.8B
FY23 ₹2.8B
FY24 ₹2.7B
FY25 ₹2.8B
Net income +46.6%/yr
FY21 ₹16.7M
FY22 ₹62.7M
FY23 ₹65.1M
FY24 ₹65.3M
FY25 ₹77.1M

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Cite: Fair Value Calculator (2026). "Bhandari Hosiery Exports Limited Fair Value". https://www.fairvalue-calculator.com/stock/512608

Peer Group

Consumer Discretionary · 3806 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 “Textile - Apparel Clothing” was too small, so the broader sector is used.)

Quality Score 24 · Bottom 25%
Fair Value upside +5% · Above median
Return on assets 0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth −64% · Bottom 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Consumer Discretionary median · lower = cheaper

P/E (TTM) 9.2× · Cheaper than 75% of peers
P/B 0.11× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
EV/EBITDA 2.0× · Cheaper than 75% of peers

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

Similar stocks

10 more Textile - Apparel Clothing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SPL Industries Limited 532651 ₹31.00 ₹47.75 +54%
K G Denim Limited 500239 ₹14.45 ₹2.44 −83%
Godrej Consumer Products Limited 532424 ₹928.70 ₹329.76 −64%
Marico Limited 531642 ₹866.00 ₹200.14 −77%
Gillette India Limited 507815 ₹7,599 ₹1,674 −78%
Hatsun Agro Product Limited 531531 ₹972.35 ₹362.14 −63%
Sundram Fasteners Limited 500403 ₹1,228 ₹240.89 −80%
EPL Limited 500135 ₹247.30 ₹111.65 −55%
V-Guard Industries Limited 532953 ₹343.45 ₹146.29 −57%
Finolex Industries Limited 500940 ₹158.35 ₹162.97 +3%

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Frequently asked questions

Is Bhandari Hosiery Exports Limited (512608) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹6.40 versus a price of ₹3.04, about +111% upside (undervalued).
What is the fair value of 512608?
Our model-based fair value for Bhandari Hosiery Exports Limited is ₹6.40 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹3.04.
What is the quality score of 512608?
Bhandari Hosiery Exports Limited has a Quality Score of 24/100. 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 price target for Bhandari Hosiery Exports Limited (512608)?
Our model-based price target is the fair value of ₹6.40 (as of Aug 13, 2026) from 14 valuation models. Cautious scenario ₹5.77, optimistic scenario ₹6.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Bhandari Hosiery Exports Limited stock forecast for 2026?
Our models put fair value at ₹6.40, about +111% upside versus a price of ₹3.04 (undervalued). Cautious scenario ₹5.77, optimistic scenario ₹6.88. The calculation is refreshed regularly with new filings.
What is the revenue of Bhandari Hosiery Exports Limited (512608)?
Bhandari Hosiery Exports Limited reported trailing-twelve-month revenue of about ₹2.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 512608?
The net profit margin of Bhandari Hosiery Exports Limited is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.
Does Bhandari Hosiery Exports Limited pay a dividend?
Bhandari Hosiery Exports Limited currently shows a dividend yield of about 0.33% relative to its recent price (as of Aug 13, 2026).
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