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Bhartiya International Ltd (BIL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹10.5B

BI Bhartiya International Ltd BIL · NSE
Price₹820.60
Fair Value₹220.48
Upside-73.1%
Quality41/100
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Expensive Growth
Thin margins · 1.0% net margin
Low debt · negative free cash flow
Trails peers (3/12)
Narrow moat 32/100
Evidence: High Range ₹165.36 – ₹275.60 Share as image

Fair value as of: Aug 2, 2026

From 17 valuation models · updated 11 days ago

Share price +14.0% over the past month.

Below-average quality, and screening another 73% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹275.60). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹954.10 ₹149.40 Fair Value ₹220.48 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹149.40 – ₹954.10 · fair‑value band ₹165.36 – ₹275.60 · the ₹820.60 price screens above the ₹220.48 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Bhartiya International Ltd (BIL) currently trades at ₹820.60, while our model-based Fair Value estimate is ₹220.48, implying the stock looks roughly 73.1% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bhartiya International Ltd generated revenue of ₹13.6B at a net margin of 1.0%. Revenue grew 29.7% year over year. It earns a return on equity of 2.9%. Net debt stands at ₹4.4B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹165.36 (bear case) to ₹275.60 (bull case); at ₹820.60, 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 17% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 0% fair-value upside, at -73%, BIL screens richer 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
Residual Income ₹260.39 ₹249.49 ₹205.75 76
ROIC Compounder ₹656.78 ₹938.87 ₹1,325 72
Gordon GGM ₹12.10 ₹25.16 ₹39.92 70
All 17 models by family
DCF Models
Owner Earnings ₹227.31 ₹444.19 ₹852.33 31
Earnings-Based
Graham-Dodd ₹68.15 ₹380.99 ₹529.08 54
Lynch FV ₹106.56 ₹152.23 ₹197.90 50
PEG = 1.0 ₹106.56 ₹152.23 ₹197.90 46
EPV ₹560.47 ₹652.58 ₹733.17 59
Dividend Discount
Gordon GGM ₹12.10 ₹25.16 ₹39.92 70
DDM Multi-Stage ₹12.10 ₹21.22 ₹26.41 61
Multiples
P/E Multiple ₹165.36 ₹220.48 ₹275.60 63
P/S Multiple ₹127.78 ₹170.37 ₹212.96 58
P/B Multiple ₹127.78 ₹170.37 ₹212.96 55
EV/EBIT ₹948.02 ₹1,261 ₹1,575 53
EV/EBITDA ₹814.55 ₹1,083 ₹1,352 54
EV/Revenue ₹641.59 ₹913.20 ₹1,185 43
Asset-Based
NCAV (Graham) ₹181.69 ₹243.47 ₹363.38 50
Economic Profit
Residual Income ₹260.39 ₹249.49 ₹205.75 76
ROIC Compounder ₹656.78 ₹938.87 ₹1,325 72
Growth Earnings
Growth-Adj P/E ₹163.61 ₹233.72 ₹303.84 68

Widest divergence: DCF Models (₹444.19) versus Dividend Discount (₹21.22). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹13.6B
Revenue growth (YoY) +29.7%
Net margin 1.0%
Return on equity 2.9%
Free cash flow −₹282M FY2026
P/E ratio 77.0
More key figures
Operating margin 5.6%
EPS (TTM) ₹10.15
EPS growth (YoY) +21.3%
Net debt ₹4.4B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 48

Profitability 39
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 39
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

Bhartiya International Ltd., together with its subsidiaries, manufactures and trades in leather and textile products in India. The company offers leather outerwear, bags, accessories, belts, wallets, fur products, and other small leather goods, as well as textile apparel, leather finishing, and design studio services.

Full company description

Bhartiya International Ltd., together with its subsidiaries, manufactures and trades in leather and textile products in India. The company offers leather outerwear, bags, accessories, belts, wallets, fur products, and other small leather goods, as well as textile apparel, leather finishing, and design studio services. It also engages in the development of cities, homes, IT and industrial parks, retail spaces, interior solutions, and hotels and convention centers. The company exports its products. Bhartiya International Ltd. was incorporated in 1987 and is based in Gurugram, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bhartiya International Ltd reported revenue of ₹13.6B in FY2026 versus ₹6.7B in FY2022, a compound +19.3%/yr. Reported net income was ₹134M in FY2026.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹13.6B
Latest YoY
+31.9%
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.
+19.2%
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.
+20.5%
Avg. growth/yr (18Y) 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.
+12.5%
Revenue +19.3%/yr
FY22 ₹6.7B
FY23 ₹8.0B
FY24 ₹7.6B
FY25 ₹10.3B
FY26 ₹13.6B
Net income
FY22 −₹165M
FY23 ₹626M
FY24 ₹2.2M
FY25 ₹157M
FY26 ₹134M
Character of growth · EPS growth decomposed (2015-2026) −9.6 % p.a.
Revenue per share +5.2 pp

of which total revenue +6.2 pp · buybacks/dilution −1.0 pp

EBIT margin +3.9 pp
Tax rate −4.3 pp
Residual (interest, one-offs) −14.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BIL screens 73% overvalued. Compare with NIKE, Inc →

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Cite: Fair Value Calculator (2026). "Bhartiya International Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BIL

Peer Group

Footwear & Accessories · 95 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 41 · Bottom 25%
Fair Value upside −73% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 5% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 30% · Top 25%
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 77.0× · Pricier than 75% of peers
P/B 2.15× · Pricier than median
P/S (TTM) 0.77× · Pricier than median
EV/EBITDA 8.5× · Pricier than median

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.

VALUE 0 · sector 11
FUTURE 100 · sector 0
PAST 11 · sector 23
HEALTH 91 · sector 98
DIVIDEND 0 · sector 40

VALUE 0: the price sits above our fair-value range.

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 Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥12.11 ¥13.03 +8%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Crocs, Inc CROX $138.91 $203.65 +47%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%

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Frequently asked questions

Is Bhartiya International Ltd (BIL) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹220.48 versus a price of ₹820.60, about −73% (overvalued).
What is the fair value of BIL?
Our model-based fair value for Bhartiya International Ltd is ₹220.48 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹820.60.
What is the quality score of BIL?
Bhartiya International Ltd has a Quality Score of 41/100. 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 Bhartiya International Ltd (BIL)?
Bhartiya International Ltd reported trailing-twelve-month revenue of about ₹13.6B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of BIL?
The net profit margin of Bhartiya International Ltd is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.

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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