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Bharat Bijlee Limited (BBL) Fair Value & Analysis

Industrials · IN · Market cap ₹31.8B (≈ $337M) · ISIN INE464A01028

What is Bharat Bijlee Limited really worth?

BB Bharat Bijlee Limited BBL · NSE
Price₹2,289
Fair Value₹1,806
Upside−21.1%
Quality44/100

Below-average quality, and trading another 27% above our fair value of ₹1,806.

As of Aug 23, 2026, the fair value of Bharat Bijlee Limited is ₹1,806 per share against a price of ₹2,289, so the fair value sits 21% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Ranks above peers (9/13)

Risks

!Expensive Growth (revenue 5y +25.5 %/yr)
!Thin margins · 5.3% net margin
!Low debt · negative free cash flow
!Narrow moat 35/100
!Weak on valuation: 5 out of 100
!Weak on past: 24 out of 100

For context

·1.53% dividend yield
Evidence: High Range ₹1,355 – ₹2,258

Fair value as of: Aug 23, 2026

From 17 valuation models · updated 14 days ago

Share price −1.3% over the past month.

What runs behind every stock

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

What matters now

  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The price sits above our optimistic bull case: the favourable scenario is already priced in.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

₹5,400 ₹586.13 Fair Value ₹1,806 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹586.13 – ₹5,400 · fair‑value band ₹1,355 – ₹2,258 · the ₹2,289 price screens above the ₹1,806 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 23, 2026.

Full chart & analysis →

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Analysis

Bharat Bijlee Limited (BBL) currently trades at ₹2,289, while our model-based Fair Value estimate is ₹1,806, implying the stock looks roughly 26.7% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ₹2,041 per share, and 1 of the 17 models we run sit above the ₹2,289 price. Bear case: the Dividend Discount group reads lowest at ₹560.99, and 16 of the 17 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Bharat Bijlee Limited generated revenue of ₹22.7B at a net margin of 5.3%. Revenue grew 23.9% year over year. It earns a return on equity of 6.1%. Net debt stands at ₹762M. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹1,355 (bear case) to ₹2,258 (bull case); at ₹2,289, the current price sits above 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 33% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −21%, BBL screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹31.08 per share, which is 1.7 % 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
Residual Income ₹1,413 ₹1,456 ₹1,470 76
Owner Earnings ₹519.48 ₹788.18 ₹1,259 75
EPV ₹1,004 ₹1,139 ₹1,258 74
All 17 models by family
DCF Models
Owner Earnings ₹519.48 ₹788.18 ₹1,259 75
Earnings-Based
Graham-Dodd ₹722.47 ₹3,412 ₹4,691 64
Lynch FV ₹905.10 ₹1,293 ₹1,681 61
PEG = 1.0 ₹905.10 ₹1,293 ₹1,681 57
EPV ₹1,004 ₹1,139 ₹1,258 74
Dividend Discount
Gordon GGM ₹319.98 ₹665.29 ₹1,055 66
DDM Multi-Stage ₹319.98 ₹560.99 ₹698.25 66
Multiples
P/E Multiple ₹1,673 ₹2,231 ₹2,789 63
P/S Multiple ₹1,355 ₹1,806 ₹2,258 58
P/B Multiple ₹1,355 ₹1,806 ₹2,258 55
EV/EBIT ₹1,731 ₹2,243 ₹2,756 66
EV/EBITDA ₹1,557 ₹2,011 ₹2,465 67
EV/Revenue ₹1,291 ₹1,761 ₹2,231 54
Asset-Based
NCAV (Graham) ₹897.42 ₹1,203 ₹1,795 54
Economic Profit
Residual Income ₹1,413 ₹1,456 ₹1,470 76
ROIC Compounder ₹1,004 ₹1,139 ₹1,258 72
Growth Earnings
Growth-Adj P/E ₹1,428 ₹2,041 ₹2,653 67

Widest divergence: Growth Earnings (₹2,041) versus Dividend Discount (₹560.99). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 21.5
P/S ratio 1.14 P/E × margin
EPS (TTM) ₹106.34 price ÷ EPS = P/E 21.5
Dividend yield 1.5% payout 32.9%
Net margin 5.3% FY2026
Return on equity 6.1% TTM
More key figures
Profitability
Return on assets (EBIT) 5.3% avg 5y
Operating margin 6.4% TTM
Growth
Revenue (TTM) ₹22.7B TTM
Revenue growth (YoY) +23.9% 3y avg +17.0%
EPS growth (YoY) −21.9%
Balance sheet & cash flow
Free cash flow −₹1.8B FY2026
Net debt ₹762M FY2026

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 33
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 82
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

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

Full company description

Bharat Bijlee Limited operates as an electrical engineering company in India and internationally. It operates in two segments, Power Systems and Industrial Systems. The company is involved in the design, manufacture, commission, and marketing of power transformers; EPC projects for electrical substations, such as delivery, rectification, commissioning, and servicing of transformers; and marketing of maintenance products. It also develops, manufactures, and markets a range of standard and customized electric motors, including low and medium voltage motors, and SynchroVERT IE4 motors; and magnet technology machines, such as gearless belt machines for passenger lift, home elevators, and heavy-duty goods. In addition, the company engineers and supplies drives and automation systems, which include AC and Servo drive, and motion controllers. Further, the company undertakes turnkey projects, including switchyards. Bharat Bijlee Limited was incorporated in 1946 and is headquartered in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bharat Bijlee Limited reported revenue of ₹22.7B in FY2026 versus ₹12.7B in FY2022, a compound +15.8%/yr. Reported net income was ₹1.2B in FY2026, compounding +21.2%/yr from FY2022.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹22.7B
Latest YoY
+19.6%
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.
+17.0%
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.
+25.5%
Avg. revenue growth/yr (21Y) 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.
+11.2%
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.
+22.9% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+21.4%
Dividend yield1.5%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 21.4% vs 10Y 27.2%, flattening
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.4.2% (2021) → 6.0% (2026) · rising
Worst earnings drop121% (2014) (loss year, drop beyond 100%) · in INR
Revenue +15.8%/yr
FY22 ₹12.7B
FY23 ₹14.2B
FY24 ₹18.7B
FY25 ₹19.0B
FY26 ₹22.7B
Net income +21.2%/yr
FY22 ₹556M
FY23 ₹832M
FY24 ₹1.3B
FY25 ₹1.3B
FY26 ₹1.2B
Character of growth · EPS growth decomposed (2016-2026) +33.8 % p.a.
Revenue per share +14.1 %

of which total revenue +14.1 % · buybacks/dilution +0.0 %

EBIT margin +19.4 %
Tax rate −1.5 %
Residual (interest, one-offs) −0.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

BBL screens 27% overvalued. Compare with Contemporary Amperex Technology Co →

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

Peer Group

Electrical Equipment & Parts · 544 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Fair Value upside −21% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 24% · Above median
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 21.5× · Cheaper than median
P/B 1.57× · Cheaper than median
P/S (TTM) 1.40× · Cheaper than median
EV/EBITDA 18.8× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE5 · sector 0
FUTURE100 · sector 56
PAST24 · sector 26
HEALTH100 · sector 97
DIVIDEND31 · sector 23

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$652.50 HK$394.19 −40%
ABB Ltd ABBN CHF 80.10 CHF 28.70 −64%
Delta Electronics (Thailand) Public Company TDED 10.40 SGD 1.47 SGD −86%
Vertiv Holdings VRT $257.08 $63.13 −75%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW −45%
Prysmian S.p.A PRY €117.10 €84.15 −28%
Legrand SA LR €139.65 €78.82 −44%
Sungrow Power Supply Co 300274 ¥86.40 ¥123.83 +43%
Hubbell Incorporated HUBB $443.31 $285.77 −36%
Shenzhen Inovance Technology Co 300124 ¥61.07 ¥33.04 −46%

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Frequently asked questions

Is Bharat Bijlee Limited (BBL) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹1,806 versus a price of ₹2,289, about −21% upside (overvalued).
What is the fair value of BBL?
Our model-based fair value for Bharat Bijlee Limited is ₹1,806 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹2,289.
What is the quality score of BBL?
Bharat Bijlee Limited has a Quality Score of 44/100. 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 Bharat Bijlee Limited (BBL)?
Our model-based price target is the fair value of ₹1,806 (as of Aug 23, 2026) from 17 valuation models. Cautious scenario ₹1,355, optimistic scenario ₹2,258. It is a calculation from audited fundamentals, not an analyst target.
What is the Bharat Bijlee Limited stock forecast for 2026?
Our models put fair value at ₹1,806, about −21% upside versus a price of ₹2,289 (overvalued). Cautious scenario ₹1,355, optimistic scenario ₹2,258. The calculation is refreshed regularly with new filings.
What is the revenue of Bharat Bijlee Limited (BBL)?
Bharat Bijlee Limited reported trailing-twelve-month revenue of about ₹22.7B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of BBL?
The net profit margin of Bharat Bijlee Limited is about 5.3%, meaning it keeps roughly 5.3% 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 1.53% relative to its recent price (as of Aug 23, 2026).
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