Bharat Seats Limited (IN:BHARATSE)
:BHARATSE
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Bharat Seats Limited
(BHARATSE)
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Rating:70Outperform
Price Target:
₹202.00
▲(14.22% Upside)
Action:Upgraded
Date:05/08/26
The score is driven primarily by solid financial performance (growth and improved balance-sheet leverage) and strong technical momentum (price above major moving averages with positive MACD). This is offset by FY2026 margin compression, only moderate cash-flow conversion, and a valuation/income profile that is only average (P/E ~21 and low dividend yield).
Positive Factors
Strong revenue growth momentum
Sustained top-line acceleration indicates successful OEM program wins and stronger demand for seating assemblies. Durable revenue expansion supports higher capacity utilization, scale economics and reinvestment into product development, underpinning medium-term earnings resilience.
Negative Factors
FY2026 margin compression
Sustained margin pressure erodes per-unit profitability and weakens return on incremental revenue. If driven by structural input-cost inflation, pricing constraints or adverse mix, compressed margins can reduce free cash flow and limit reinvestment or capital returns over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth momentum
Sustained top-line acceleration indicates successful OEM program wins and stronger demand for seating assemblies. Durable revenue expansion supports higher capacity utilization, scale economics and reinvestment into product development, underpinning medium-term earnings resilience.
Read all positive factors
Bharat Seats Limited (BHARATSE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.04B
Dividend Yield0.62%
Average Volume (3M)24.42K
Price to Earnings (P/E)21.0
Beta (1Y)1.67
Revenue Growth51.37%
EPS Growth29.14%
CountryIN
Employees462
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)3.39
Shares Outstanding62,800,000
10 Day Avg. Volume11,874
30 Day Avg. Volume24,423
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)3.86
Price to Sales (P/S)0.45
P/FCF Ratio17.44
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
Bharat Seats Limited Business Overview & Revenue Model
Company Description
Bharat Seats Limited manufactures and sells seating systems and interior components for the automotive and surface transport industries in India. It offers seats for four-wheeler, two-wheeler, and railways chair car; carpets; roof and windshield m...
How the Company Makes Money
Bharat Seats Limited primarily makes money by manufacturing and supplying automotive seating systems and related parts to vehicle OEMs under business-to-business supply arrangements. Revenue is largely generated from (1) sale of complete seating a...
Bharat Seats Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
68
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.48B | 19.51B | 12.86B | 10.64B | 10.49B | 8.16B |
| Gross Profit | 899.72M | 1.71B | 1.74B | 1.46B | 1.19B | 953.02M |
| EBITDA | 492.04M | 991.58M | 789.25M | 652.66M | 502.59M | 373.29M |
| Net Income | 212.90M | 422.31M | 327.00M | 250.54M | 215.46M | 119.13M |
Balance Sheet | ||||||
| Total Assets | 6.93B | 7.37B | 6.48B | 5.05B | 3.58B | 3.37B |
| Cash, Cash Equivalents and Short-Term Investments | 63.81M | 154.74M | 39.50M | 11.43M | 10.30M | 9.39M |
| Total Debt | 1.32B | 1.10B | 1.52B | 1.60B | 657.29M | 389.27M |
| Total Liabilities | 4.86B | 5.07B | 4.53B | 3.38B | 2.11B | 2.10B |
| Stockholders Equity | 2.07B | 2.30B | 1.95B | 1.67B | 1.46B | 1.27B |
Cash Flow | ||||||
| Free Cash Flow | 555.98M | 508.85M | 262.94M | -165.31M | -179.63M | -15.89M |
| Operating Cash Flow | 1.14B | 1.02B | 961.44M | 567.42M | 425.40M | 156.17M |
| Investing Cash Flow | -551.03M | -478.41M | -681.13M | -726.34M | -590.67M | -146.62M |
| Financing Cash Flow | -542.97M | -416.39M | -252.82M | 157.23M | 168.20M | -15.97M |
Bharat Seats Limited Technical Analysis
Positive
176.85
Price Trends
175.49
Positive
173.06
Positive
172.29
Positive
Market Momentum
2.44
Positive
50.44
Neutral
33.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BHARATSE, the sentiment is Positive. The current price of 176.85 is below the 20-day moving average (MA) of 188.08, above the 50-day MA of 175.49, and above the 200-day MA of 172.29, indicating a neutral trend. The MACD of 2.44 indicates Positive momentum. The RSI at 50.44 is Neutral, neither overbought nor oversold. The STOCH value of 33.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BHARATSE.
Bharat Seats Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹19.71B | 15.60 | ― | 0.32% | 1.88% | -15.78% | |
70 Outperform | ₹12.04B | 21.01 | ― | 0.62% | 51.37% | 29.14% | |
66 Neutral | ₹8.30B | 6.41 | ― | ― | 21.09% | 17.70% | |
65 Neutral | ₹12.80B | 5.86 | ― | 0.74% | 11.39% | 324.30% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | ₹4.16B | -17.45 | ― | ― | -10.63% | 303.99% | |
52 Neutral | ₹12.19B | 70.84 | ― | 0.57% | 3.28% | -49.70% |
* Consumer Cyclical Sector Average
IN:BHARATSE
Bharat Seats Limited
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Bharat Seats Limited Corporate Events
Bharat Seats Clears FY26 Results, Capex for Maruti Programs and Dividend Payout
May 12, 2026
Bharat Seats Limited’s board has approved the annual financial statements and audited results for the quarter and year ended 31 March 2026, with the statutory auditors issuing an unmodified opinion, and cleared the notice, Directors’ R...
Bharat Seats’ HR Chief Ankur Maheshwari Resigns Effective April 14, 2026
Apr 20, 2026
Bharat Seats Limited has announced the resignation of its Chief General Manager (HRA), Ankur Maheshwari, effective from the close of business hours on 14 April 2026. The company informed stock exchanges that Maheshwari stepped down from his senior...
Bharat Seats Sees Rs 7.86 Crore Tax Demand Scrapped After Appellate Relief
Apr 1, 2026
Bharat Seats Limited has disclosed that it received appellate orders from the Commissioner of Income Tax (Appeals), Delhi, covering assessment years 2014-15 to 2017-18 under section 250 of the Income Tax Act. The orders, dated March 30, 2026 and r...
Bharat Seats Opens Special Window for Transfer and Demat of Physical Shares
Feb 26, 2026
Bharat Seats Limited has notified the stock exchanges that it has published a newspaper notice about the opening of a Special Window for the transfer and dematerialisation of physical securities, in line with a recent SEBI circular. The notice has...
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.