Bhandari Hosiery Exports Limited (BHANDARI) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Bhandari Hosiery Exports Limited stock ₹4.04, price ₹2.78, upside +45.2%, quality 26 out of 100. Rating: undervalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ₹2.02 – ₹13.73 · fair‑value band ₹3.21 – ₹4.94 · the ₹2.78 price screens below the ₹4.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Bhandari Hosiery Exports Limited operates as a textile and garments manufacturing company in India and internationally.
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The company offers knitted fabrics kora and dyed; and knitted hosiery garments, such as bermudas, track suits, pajamas, lowers, and ladies knitted tops with embroidery and prints, etc. It also manufactures, processes, and trades dyed and non-dyed fabrics.
In addition, the company provides natural and synthetic circular knitted fabrics; open and tubular width fabrics; and specialised finishes comprising teflon, stain resistance, viscose, and lycra.
Further, it offers tees and leggings for women; t-shirts, sweatshirts, pullovers, and polos for men; and t-shirts, sweatshirts, pullovers, polos, and joggers for kids. The company was incorporated in 1993 and is based in Ludhiana, India.
Stock analysis
Bhandari Hosiery Exports Limited (BHANDARI) currently trades at ₹2.78, while our model-based Fair Value estimate is ₹4.04, implying the stock looks roughly 31% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹6.42 per share, and 13 of the 17 models we run sit above the ₹2.78 price.
Bear case: the Earnings-Based group reads lowest at ₹3.20, and 4 of the 17 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹3.21 (bear) to ₹4.94 (bull), the price of ₹2.78 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 26/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Bhandari Hosiery Exports Limited reported revenue of ₹2.8B in FY2026 versus ₹2.8B in FY2022, a compound −0.3%/yr. Reported net income was ₹77.7M in FY2026, compounding +5.5%/yr from FY2022.
Key figures
Market cap ₹926M (≈ $9.9M) Micro · P/E ratio 10.7 · P/S ratio 0.35 · EPS (TTM) ₹0.2600 · Dividend yield 0.4% · Net margin 2.8% · Return on equity 4.6% · Return on assets (EBIT) 7.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 37% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −7% fair-value upside, at 45%, BHANDARI screens cheaper than that median.
Fair Value models
Bear₹3.21Fair Value ₹4.04Bull₹4.94
Price ₹2.78 · Upside +45.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.1541 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner Earnings₹4.22₹6.02₹8.4177
Residual Income₹3.78₹3.73₹3.8976
EPV₹4.39₹4.98₹5.4874
All 17 models by family
DCF Models
Owner Earnings₹4.22₹6.02₹8.4177
Earnings-Based
Graham-Dodd₹1.59₹4.75₹6.2965
Lynch FV₹1.15₹1.64₹2.1361
PEG = 1.0₹1.15₹1.64₹2.1357
EPV₹4.39₹4.98₹5.4874
Dividend Discount
Gordon GGM₹0.1100₹0.2000₹0.280067
DDM Multi-Stage₹0.1100₹0.1700₹0.220067
Multiples
P/E Multiple₹3.85₹5.13₹6.4263
P/S Multiple₹2.97₹3.97₹4.9658
P/B Multiple₹16.52₹22.03₹27.5355
EV/EBIT₹5.78₹8.58₹11.3865
EV/EBITDA₹4.87₹7.36₹9.8566
EV/Revenue₹3.05₹5.47₹7.9052
Asset-Based
NCAV (Graham)₹2.23₹3.37₹4.2155
Economic Profit
Residual Income₹3.78₹3.73₹3.8976
ROIC Compounder₹4.39₹4.98₹5.4872
Growth Earnings
Growth-Adj P/E₹3.13₹4.47₹5.8167
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.35/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2021 (pandemic). Over 10 years: +3.5% a year
Revenue growth 20 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. 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.
−7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.8%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘ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.−7.8% vs −1.7%, slowing
Profit margin 2020 to 2026 ⓘ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.6% → 7%
Compare Bhandari Hosiery Exports Limited with another stock
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Peer Groupⓘ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.Apparel Manufacturing · 223 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score26 · Bottom 25%
Fair Value upside+45.2% · Above median
Profitability
Return on equity (12 months)4.6% · Below median
Return on assets2.5% · Below median
Net margin (12 months)2.8% · Below median
Operating margin (12 months)8.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)−19.3% · Bottom 25%
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.10× · Above median
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
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Is Bhandari Hosiery Exports Limited (BHANDARI) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ₹4.04 versus a price of ₹2.78, about +45% upside (undervalued).
What is the fair value of BHANDARI?
Our model-based fair value for Bhandari Hosiery Exports Limited is ₹4.04 (as of Nov 7, 2026), built from audited fundamentals. The current price: ₹2.78.
What is the quality score of BHANDARI?
Bhandari Hosiery Exports Limited has a Quality Score of 26/100. 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 (BHANDARI)?
Our model-based price target is the fair value of ₹4.04 (as of Nov 7, 2026) from 17 valuation models. Cautious scenario ₹3.21, optimistic scenario ₹4.94. 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 ₹4.04, about +45% upside versus a price of ₹2.78 (undervalued). Cautious scenario ₹3.21, optimistic scenario ₹4.94. The calculation is refreshed regularly with new filings.
What is the revenue of Bhandari Hosiery Exports Limited (BHANDARI)?
Bhandari Hosiery Exports Limited reported trailing-twelve-month revenue of about ₹2.7B (latest available figure, as of Nov 7, 2026).
Does Bhandari Hosiery Exports Limited pay a dividend?
Bhandari Hosiery Exports Limited currently shows a dividend yield of 0.36% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Bhandari Hosiery Exports Limited (BHANDARI) and when is the ex-dividend date?
Bhandari Hosiery Exports Limited pays a dividend of ₹0.01 per share a year, a dividend yield of 0.4%. The last ex-dividend date was Sep 8, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 3.8% of earnings. Our assessment: Token dividend. At a yield of 0.4% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.4% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Bhandari Hosiery Exports Limited (BHANDARI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bhandari Hosiery Exports Limited it is ₹4.04 per share (as of Nov 7, 2026), against a price of ₹2.78. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Bhandari Hosiery Exports Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, BHANDARI trades below its calculated fair value: price ₹2.78, fair value ₹4.04, a gap of about +45% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BHANDARI?
No. The price is what the market pays today (₹2.78); the fair value is what the company's own numbers justify (₹4.04). For Bhandari Hosiery Exports Limited the two are ₹1.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bhandari Hosiery Exports Limited worth?
The market values Bhandari Hosiery Exports Limited at about ₹926M (market capitalisation, as of Nov 7, 2026). Per share that is ₹2.78; our models calculate a fair value of ₹4.04 per share.
What do the bullish and bearish scenarios say about BHANDARI?
Our models span a range for Bhandari Hosiery Exports Limited: cautious scenario ₹3.21, base ₹4.04, optimistic ₹4.94 per share (as of Nov 7, 2026, price ₹2.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BHANDARI?
Bhandari Hosiery Exports Limited trades at a price-to-earnings ratio of 10.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹4.04 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.3, EV/EBITDA 3.3.
How solid is the balance sheet of Bhandari Hosiery Exports Limited (BHANDARI)?
Balance-sheet figures for Bhandari Hosiery Exports Limited (as of Nov 7, 2026): return on equity 4.6%, debt of 0.10 per unit of equity. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is BHANDARI from its 52-week high?
Bhandari Hosiery Exports Limited trades at ₹2.78, about 38% below its 52-week high of ₹4.51 and 37% above the low of ₹2.02 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹4.04 is for.
Which stocks are comparable to Bhandari Hosiery Exports Limited?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, LPP SA, Levi Strauss & Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bhandari Hosiery Exports Limited stock attractive at the current price?
The data as of Nov 7, 2026: price ₹2.78, calculated fair value ₹4.04 (+45%), Quality Score 26/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BHANDARI calculated?
We run Bhandari Hosiery Exports Limited through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹4.04 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Bhandari Hosiery Exports Limited currently trades 31% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bhandari Hosiery Exports Limited (BHANDARI)?
The closing price on Nov 9, 2026 was ₹2.78. Our model-based fair value is ₹4.04, about +45% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bhandari Hosiery Exports Limited right now?
The large discount to fair value meets weak quality (26/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (₹3.21). 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.
Where does the earnings growth of Bhandari Hosiery Exports Limited (BHANDARI) come from?
Earnings per share at Bhandari Hosiery Exports Limited grew +2.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share −1.1 %, EBIT margin +5.4 %, tax rate −0.2 %, residual (interest, one-offs) −1.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bhandari Hosiery Exports Limited
How large is the market capitalisation of Bhandari Hosiery Exports Limited (BHANDARI)?
The market capitalisation of Bhandari Hosiery Exports Limited is ₹926M (≈ $9.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Bhandari Hosiery Exports Limited (BHANDARI)?
The price-to-sales ratio of Bhandari Hosiery Exports Limited is 0.35 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bhandari Hosiery Exports Limited (BHANDARI)?
Earnings per share at Bhandari Hosiery Exports Limited are ₹0.2600 (price ÷ EPS = P/E 10.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bhandari Hosiery Exports Limited (BHANDARI)?
The dividend yield of Bhandari Hosiery Exports Limited is 0.4% (payout 3.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bhandari Hosiery Exports Limited (BHANDARI)?
The net margin of Bhandari Hosiery Exports Limited is 2.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bhandari Hosiery Exports Limited (BHANDARI)?
The return on equity (ROE) of Bhandari Hosiery Exports Limited is 4.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bhandari Hosiery Exports Limited (BHANDARI)?
On an EBIT basis the return on assets of Bhandari Hosiery Exports Limited is 7.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bhandari Hosiery Exports Limited (BHANDARI)?
The operating margin of Bhandari Hosiery Exports Limited is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bhandari Hosiery Exports Limited (BHANDARI)?
Revenue at Bhandari Hosiery Exports Limited is growing −19.3% versus a year earlier (3y avg −0.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bhandari Hosiery Exports Limited (BHANDARI)?
Earnings per share at Bhandari Hosiery Exports Limited are growing −40.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bhandari Hosiery Exports Limited (BHANDARI) generate?
The free cash flow of Bhandari Hosiery Exports Limited is −₹87.2M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bhandari Hosiery Exports Limited (BHANDARI) carry?
The net debt of Bhandari Hosiery Exports Limited is ₹869M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026