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Bhartiya International Ltd (BIL) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹11.1B (≈ $118M) · ISIN INE828A01016

What is Bhartiya International Ltd really worth?

BI Bhartiya International Ltd BIL · BSE
Price₹908.50
Fair Value₹220.48
Upside−75.7%
Quality51/100

A solid business, but trading 312% above our fair value of ₹220.48.

As of Aug 19, 2026, the fair value of Bhartiya International Ltd is ₹220.48 per share against a price of ₹908.50, so the fair value sits 76% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +20.5 %/yr)
!Thin margins · 1.8% net margin
!Narrow moat 32/100
Evidence: High Range ₹165.36 – ₹275.60

Fair value as of: Aug 19, 2026

From 26 valuation models · updated 18 days ago

Share price +13.7% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (₹275.60). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

₹966.40 ₹149.90 Fair Value ₹220.48 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹149.90 – ₹966.40 · fair‑value band ₹165.36 – ₹275.60 · the ₹908.50 price screens above the ₹220.48 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Bhartiya International Ltd (BIL) currently trades at ₹908.50, while our model-based Fair Value estimate is ₹220.48, implying the stock looks roughly 312.0% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of ₹258.19 per share, and 3 of the 26 models we run sit above the ₹908.50 price. Bear case: the Earnings-Based group reads lowest at ₹82.58, and 23 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Bhartiya International Ltd generated revenue of ₹14.5B at a net margin of 1.8%. Revenue grew 33.8% year over year. It earns a return on equity of 2.9%. Net debt stands at ₹5.0B. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹165.36 (bear case) to ₹275.60 (bull case); at ₹908.50, 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 7% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 32% fair-value upside, at −76%, BIL screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹6.93 per share, which is 3.1 % 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
FCF DCF ₹139.10 ₹255.50 ₹440.76 77
Growth DCF ₹140.86 ₹255.13 ₹436.47 76
Residual Income ₹260.39 ₹249.49 ₹205.75 76
All 26 models by family
DCF Models
FCF DCF ₹139.10 ₹255.50 ₹440.76 77
Owner Earnings ₹140.75 ₹258.19 ₹445.11 74
5Y Revenue Exit ₹421.14 ₹805.16 ₹1,315 70
5Y EBITDA Exit ₹497.04 ₹951.62 ₹1,502 73
5Y P/E Exit ₹115.83 ₹215.97 ₹323.30 69
10Y Revenue Exit ₹299.39 ₹628.42 ₹1,106 64
10Y EBITDA Exit ₹368.41 ₹731.85 ₹1,253 66
10Y P/E Exit ₹122.36 ₹212.35 ₹326.68 63
Earnings-Based
Graham-Dodd ₹68.15 ₹244.78 ₹329.88 64
Lynch FV ₹57.81 ₹82.58 ₹107.35 61
PEG = 1.0 ₹57.81 ₹82.58 ₹107.35 57
EPV ₹552.03 ₹651.52 ₹738.58 74
Dividend Discount
Gordon GGM ₹12.10 ₹25.16 ₹39.92 66
DDM Multi-Stage ₹12.10 ₹21.22 ₹26.41 66
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 ₹895.27 ₹1,209 ₹1,522 66
EV/EBITDA ₹761.80 ₹1,031 ₹1,300 67
EV/Revenue ₹588.84 ₹860.45 ₹1,132 53
Asset-Based
NCAV (Graham) ₹181.69 ₹243.47 ₹363.38 54
Growth DCF
Growth DCF ₹140.86 ₹255.13 ₹436.47 76
Rev-Margin DCF ₹421.14 ₹793.43 ₹1,235 71
Economic Profit
Residual Income ₹260.39 ₹249.49 ₹205.75 76
ROIC Compounder ₹601.65 ₹802.32 ₹1,061 72
Growth Earnings
Growth-Adj P/E ₹113.53 ₹162.18 ₹210.84 67

Widest divergence: DCF Models (₹258.19) versus Dividend Discount (₹21.22). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 89.4
P/S ratio 0.88 P/E × margin
EPS (TTM) ₹10.16 price ÷ EPS = P/E 89.4
Dividend yield 0.2% payout 14.2%
Net margin 1.0% FY2025
Return on equity 2.9% TTM
More key figures
Profitability
Return on assets (EBIT) 5.3% avg 5y
Operating margin 9.0% TTM
Growth
Revenue (TTM) ₹14.5B TTM
Revenue growth (YoY) +33.8% 3y avg +19.4%
EPS growth (YoY) +213%
Balance sheet & cash flow
Free cash flow ₹209M FY2025
Net debt ₹5.0B FY2025 · ≈ 23.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 60

Profitability 42
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 49
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

Bhartiya International Ltd. manufactures, trades in, and sells leather and textile products in India. The company offers leather outerwear, bags and accessories, belts, wallets, and other small leather goods, as well as textile appeal, leather finishing, and design studio services.

Full company description

Bhartiya International Ltd. manufactures, trades in, and sells leather and textile products in India. The company offers leather outerwear, bags and accessories, belts, wallets, and other small leather goods, as well as textile appeal, leather finishing, and design studio services. It also engages in the development of real estate, IT and industrial park, retail spaces, and interior solutions, and hotel and convention center. Bhartiya International Ltd. exports its products. The company was incorporated in 1987 and is based in Gurugram, India.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bhartiya International Ltd reported revenue of ₹13.6B in FY2025 versus ₹6.7B in FY2021, a compound +19.3%/yr. Reported net income was ₹134M in FY2025.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
₹13.6B
Latest YoY
+31.9%
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.
+19.4%
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.
+20.5%
Avg. revenue growth/yr (12Y) 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.
−10.7%
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.
−10.3% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−10.5%
Dividend yield0.2%
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) → 6.9% (2025) · rising
Worst earnings drop522% (2015) (loss year, drop beyond 100%) · in INR
Revenue +19.3%/yr
FY21 ₹6.7B
FY22 ₹8.0B
FY23 ₹7.8B
FY24 ₹10.3B
FY25 ₹13.6B
Net income
FY21 −₹165M
FY22 ₹626M
FY23 ₹2.2M
FY24 ₹157M
FY25 ₹134M

BIL screens 312% 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.BSE

Peer Group

Footwear & Accessories · 93 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 51 · Below median
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 5% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 34% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/E (TTM) 89.4× · Pricier than 75% of peers
P/B 2.29× · Pricier than median
P/S (TTM) 0.77× · Pricier than median
P/FCF 0.6× · Cheaper than 75% of peers
EV/EBITDA 8.7× · Pricier 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

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $38.44 $35.63 −7%
Deckers Outdoor Corporation DECK $87.76 $125.16 +43%
On Holding ONON $31.03 $17.79 −43%
Zhejiang China Commodities City Group 600415 ¥12.61 ¥13.03 +3%
Birkenstock Holding BIRK $33.95 $44.93 +32%
Crocs, Inc CROX $122.23 $203.65 +67%
Huali Industrial Group 300979 ¥34.24 ¥51.36 +50%
PUMA SE PUM €25.63 €10.57 −59%
Steven Madden, Ltd SHOO $47.70 $11.69 −75%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.65 HK$31.67 +132%

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Frequently asked questions

Is Bhartiya International Ltd (BIL) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹220.48 versus a price of ₹908.50, about −76% upside (overvalued).
What is the fair value of BIL?
Our model-based fair value for Bhartiya International Ltd is ₹220.48 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹908.50.
What is the quality score of BIL?
Bhartiya International Ltd has a Quality Score of 51/100. 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 Bhartiya International Ltd (BIL)?
Our model-based price target is the fair value of ₹220.48 (as of Aug 19, 2026) from 26 valuation models. Cautious scenario ₹165.36, optimistic scenario ₹275.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Bhartiya International Ltd stock forecast for 2026?
Our models put fair value at ₹220.48, about −76% upside versus a price of ₹908.50 (overvalued). Cautious scenario ₹165.36, optimistic scenario ₹275.60. The calculation is refreshed regularly with new filings.
What is the revenue of Bhartiya International Ltd (BIL)?
Bhartiya International Ltd reported trailing-twelve-month revenue of about ₹14.5B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of BIL?
The net profit margin of Bhartiya International Ltd is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does Bhartiya International Ltd pay a dividend?
Bhartiya International Ltd currently shows a dividend yield of about 0.16% relative to its recent price (as of Aug 19, 2026).
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