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BGR Energy Systems Limited
(BGRENERGY)
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Rating:47Neutral
Price Target:
₹291.00
▼(-15.97% Downside)
Action:Reiterated
Date:05/28/26
The score is primarily constrained by very weak financial performance (shrinking revenue, deepening losses, negative gross profit, worsening negative equity, and higher debt) and limited valuation support due to ongoing losses. Technicals are comparatively better, with price above major moving averages, but mixed momentum indicators reduce confidence in the durability of the move.
Positive Factors
EPC/BoP business model in power sector
BGR Energy's core EPC and balance-of-plant focus targets long-lived power infrastructure projects with milestone billing. That model offers project-level revenue visibility and scope for multi-year engagements, while engineered deliveries and commissioning create sticky client relationships and recurring aftermarket opportunities.
Negative Factors
Deeply negative equity and higher debt
A sharply negative equity base combined with materially higher leverage materially weakens solvency and financial flexibility. Negative shareholders' equity increases counterparty and refinancing risk, can trigger covenant breaches, and limits capacity to raise unsecured financing or absorb further operational setbacks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
EPC/BoP business model in power sector
BGR Energy's core EPC and balance-of-plant focus targets long-lived power infrastructure projects with milestone billing. That model offers project-level revenue visibility and scope for multi-year engagements, while engineered deliveries and commissioning create sticky client relationships and recurring aftermarket opportunities.
Read all positive factors
BGR Energy Systems Limited (BGRENERGY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹21.59B
Dividend YieldN/A
Average Volume (3M)34.17K
Price to Earnings (P/E)―
Beta (1Y)1.98
Revenue Growth-33.77%
EPS Growth-32.47%
CountryIN
Employees1,813
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-178.51
Shares Outstanding72,161,560
10 Day Avg. Volume15,413
30 Day Avg. Volume34,175
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)-0.62
Price to Sales (P/S)5.91
P/FCF Ratio-57.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
BGR Energy Systems Limited Business Overview & Revenue Model
Company Description
BGR Energy Systems Limited, operating with its subsidiaries both domestically in India and internationally, specializes in the manufacture and supply of critical capital equipment for the power generation, petrochemical, process, and refinery sect...
How the Company Makes Money
BGRENERGY primarily makes money by executing EPC/BoP contracts and supplying related equipment and services to power-generation projects. Under this model, revenue is typically earned through (i) milestone-based billings during project execution f...
BGR Energy Systems Limited Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
6
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.00B | 4.52B | 10.12B | 8.06B | 12.21B |
| Gross Profit | -3.77B | -1.68B | -679.80M | -386.70M | 3.17B |
| EBITDA | -4.55B | -3.61B | -2.97B | -3.04B | 646.30M |
| Net Income | -12.88B | -9.72B | -7.58B | -4.85B | -1.83B |
Balance Sheet | |||||
| Total Assets | 43.11B | 47.01B | 43.58B | 49.55B | 53.60B |
| Cash, Cash Equivalents and Short-Term Investments | 492.90M | 777.20M | 902.10M | 2.97B | 2.74B |
| Total Debt | 45.35B | 34.71B | 18.33B | 18.45B | 18.78B |
| Total Liabilities | 72.14B | 63.41B | 50.64B | 49.06B | 48.23B |
| Stockholders Equity | -28.61B | -16.08B | -6.61B | 918.80M | 5.77B |
Cash Flow | |||||
| Free Cash Flow | -306.10M | -18.58B | 1.49B | 3.02B | 3.25B |
| Operating Cash Flow | -298.10M | -18.57B | 1.50B | 3.04B | 3.27B |
| Investing Cash Flow | 18.70M | 16.70M | 3.40M | -20.00M | 79.70M |
| Financing Cash Flow | -17.00M | 18.83B | -1.43B | -3.06B | -3.70B |
BGR Energy Systems Limited Technical Analysis
Negative
346.30
Price Trends
306.76
Negative
310.36
Negative
331.98
Negative
Market Momentum
-5.90
Positive
42.01
Neutral
18.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BGRENERGY, the sentiment is Negative. The current price of 346.3 is above the 20-day moving average (MA) of 316.43, above the 50-day MA of 306.76, and above the 200-day MA of 331.98, indicating a bearish trend. The MACD of -5.90 indicates Positive momentum. The RSI at 42.01 is Neutral, neither overbought nor oversold. The STOCH value of 18.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BGRENERGY.
BGR Energy Systems Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹83.48B | 22.93 | ― | 0.05% | 15.81% | 11.50% | |
68 Neutral | ₹42.12B | 20.60 | ― | 1.03% | -43.10% | -32.97% | |
66 Neutral | ₹37.92B | 9.79 | ― | 0.67% | 0.52% | -1.01% | |
65 Neutral | ₹36.34B | 8.30 | ― | 0.16% | -41.35% | -56.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹62.61B | 28.11 | ― | ― | -29.16% | 44.18% | |
47 Neutral | ₹21.59B | -1.68 | ― | ― | -33.77% | -32.47% |
* General Sector Average
IN:BGRENERGY
BGR Energy Systems Limited
299.20
199.45
199.95%
IN:HCC
Hindustan Construction Co. Ltd.
23.90
-5.01
-17.33%
IN:JKIL
J. Kumar Infraprojects Limited
501.10
-207.55
-29.29%
IN:KNRCON
KNR Constructions Limited
129.20
-89.37
-40.89%
IN:MANINFRA
Man Infraconstruction Limited
104.35
-73.86
-41.45%
IN:POWERMECH
Power Mech Projects Ltd.
2,640.45
-576.79
-17.93%
BGR Energy Systems Limited Corporate Events
BGR Energy Systems Confirms Postal Ballot Resolution Passed With Majority
Jul 6, 2026
BGR Energy Systems Limited has reported to the National Stock Exchange of India and BSE the results of a postal ballot conducted via e-voting, in line with Regulation 44(3) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2...
BGR Energy Systems Doubles Authorised Share Capital After Shareholder Approval
Jul 6, 2026
BGR Energy Systems Limited has secured shareholder approval via postal ballot to increase its authorised share capital, signaling preparations for potential future equity issuance. The company operates in the Indian power and energy infrastructure...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.