Bhansali Engineering Polymers Ltd. (BEPL) AI Stock Analysis

• Market Cap: ₹20.58B
• Dividend Yield: 4.47%
• Average Volume (3M): 23.46K
• Price to Earnings (P/E): 12.1
• Beta (1Y): 1.55
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 478
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals
• EPS (TTM): N/A
• Shares Outstanding: 248,858,460
• 10 Day Avg. Volume: 19,596
• 30 Day Avg. Volume: 23,460
• PEG Ratio: 55.34
• Price to Book (P/B): 2.76
• Price to Sales (P/S): 1.98
• P/FCF Ratio: 26.92
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹90.00 ▼(-1.32% Downside)

The score is driven primarily by strong financial quality—especially the debt-free balance sheet—offset by uneven earnings/cash-flow consistency. Valuation is supportive with a moderate P/E and attractive dividend yield, while technical indicators remain mixed with weaker longer-term trend signals.

Positive Factors

Debt-free Balance Sheet

Zero reported debt provides durable financial flexibility: it reduces interest burden, supports capital allocation for maintenance or expansion, and allows the company to withstand cyclical downturns in petrochemical markets without forced deleveraging or distress financing.

Stable Profitability / Margins

Sustained gross and operating margins in FY2025 indicate competitive manufacturing economics and pricing power in core resin grades, supporting durable cash generation and the ability to invest in product quality, R&D or plant upkeep over the medium term.

Diversified End-market Exposure

A product mix serving consumer durables, automotive, electrical and industrial segments spreads demand risk structurally; diversification helps smooth cycle effects across end markets and positions BEPL to capture long-term industrial and electrification-related polymer demand.

Negative Factors

Inconsistent Revenue & Margins

Choppy top-line and margin compression suggest the business faces recurring demand or cost-cycle volatility (feedstock/pricing and utilization swings). This undermines predictability of earnings and limits confidence in sustained margin expansion or stable growth.

Volatile Cash Conversion

Variable operating cash flow and inconsistent cash conversion reduce financial resilience despite strong balance sheet metrics; this can constrain reinvestment, dividend reliability, and the ability to fund capex or buffer against prolonged feedstock or demand shocks.

Recent EPS Decline

Negative EPS growth signals profitability pressure versus prior periods and may reflect margin erosion or mix shifts. Persisting EPS declines would limit internal funding for growth and dividends and could indicate competitive or cost-structure challenges to address.

Bhansali Engineering Polymers Ltd. Business Overview & Revenue Model

Company Description

Bhansali Engineering Polymers Limited operates a petrochemical company in India and internationally. The company manufactures and sells acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) resins, as well as high rubber graft. Its products include general purpose, heat resistant, weathering resistant, and extrusion ABS resins for automotive, home appliances, packaging, electronics, healthcare, and electrical applications; and SAN resins for stationery items and cosmetic packaging applications. The company also provides general purpose, heat resistant, and direct metalizing acrylonitrile styrene acrylate resins for automotive, pillar garnish, mirror housing, and construction applications; and heat resistant, extrusion, and paintable polycarbonate-ABS resins for automotive, electronics, home appliances, healthcare, packaging, and luggage/suitcase applications. In addition, it offers specialized grade tailor made products for metallic specialty, pearl specialty, low gloss specialty, ASA/PMMA, and ABS/PMMA applications. The company was incorporated in 1984 and is based in Mumbai, India.

How the Company Makes Money

Bhansali Engineering Polymers Ltd. Financial Statement Overview

Summary

Strong overall financial foundation led by an exceptionally conservative, debt-free balance sheet (very low financial risk). Profitability remains solid, but revenue and margin consistency has been uneven over time, and cash flow conversion has been volatile, which tempers the financial strength.

Income Statement

Profitability remains solid with healthy gross and operating margins in the latest year (FY2025), and net profit holding up well. However, the earnings profile looks less consistent over time: margins have compressed materially versus earlier years, and revenue growth has been choppy (including declines in prior periods), which reduces confidence in a steady growth trajectory.

Balance Sheet

The balance sheet is exceptionally conservative with zero debt across all reported periods, which materially lowers financial risk. Equity remains sizeable and returns on equity are healthy in FY2025, though they are below the unusually high levels seen in earlier years, suggesting profitability has normalized versus peak conditions.

Cash Flow

Cash generation is generally supportive: free cash flow is close to net income in FY2025, indicating earnings quality is decent. The main concern is volatility—operating cash flow fell meaningfully in FY2025 versus FY2024 and cash conversion has fluctuated across years, which can pressure flexibility despite the strong balance sheet.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.66B	13.98B	12.22B	13.63B	13.94B	12.92B
Gross Profit	3.85B	4.04B	3.87B	3.72B	6.39B	6.03B
EBITDA	2.35B	2.53B	2.52B	2.05B	4.82B	4.57B
Net Income	1.73B	1.80B	1.79B	1.37B	3.50B	3.34B
Balance Sheet
Total Assets	0.00	11.04B	10.56B	11.67B	11.08B	7.77B
Cash, Cash Equivalents and Short-Term Investments	4.04B	4.04B	1.59B	2.78B	1.89B	1.49B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	-10.02B	1.02B	1.33B	990.64M	1.27B	958.39M
Stockholders Equity	10.02B	10.02B	9.23B	10.68B	9.81B	6.81B
Cash Flow
Free Cash Flow	0.00	1.03B	2.09B	1.35B	2.84B	1.03B
Operating Cash Flow	0.00	1.09B	2.30B	1.40B	2.98B	1.03B
Investing Cash Flow	0.00	2.35B	451.15M	-153.20M	-3.00B	-207.24M
Financing Cash Flow	0.00	-995.43M	-3.24B	-497.72M	-497.72M	-88.05M

Bhansali Engineering Polymers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BEPL	69 Neutral	₹20.58B	12.13	―	4.47%	―	―
EPIGRAL	67 Neutral	₹44.81B	13.14	―	0.46%	8.51%	32.37%
DEEPAKFERT	62 Neutral	₹133.19B	15.98	―	0.80%	21.68%	45.18%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SPLPETRO	58 Neutral	₹107.82B	36.99	―	1.55%	-6.27%	-25.06%
DEEPAKNTR	52 Neutral	₹223.91B	40.60	―	0.44%	-7.50%	-37.67%
CHEMPLASTS	41 Neutral	₹41.20B	-18.88	―	―	6.50%	-70.69%