Bombay Super Hybrid Seeds Ltd. (BSHSL) AI Stock Analysis

• Market Cap: ₹8.45B
• Dividend Yield: N/A
• Average Volume (3M): 14.67K
• Price to Earnings (P/E): 35.7
• Beta (1Y): 1.03
• Revenue Growth: 21.32%
• EPS Growth: 19.54%
• Country: IN
• Employees: 55
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Agricultural Inputs
• EPS (TTM): N/A
• Shares Outstanding: 104,937,280
• 10 Day Avg. Volume: 12,477
• 30 Day Avg. Volume: 14,667
• PEG Ratio: 2.63
• Price to Book (P/B): 12.51
• Price to Sales (P/S): 3.65
• P/FCF Ratio: -34.51
• 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: 56 Neutral
• Price Target: ₹81.00 ▼(-34.18% Downside)
• Action: Reiterated Date: 03/18/26
• Date: Action: Reiterated 03/18/26

The score is mainly supported by solid reported revenue/profit growth and healthy operating margins, but is materially offset by negative operating/free cash flow and a debt-leaning balance sheet. Technically, the stock remains in a pronounced downtrend (below key moving averages with negative MACD), while valuation looks demanding with a ~35.7 P/E and no dividend yield provided.

Positive Factors

Healthy EBIT/EBITDA margins

Consistently healthy EBIT/EBITDA margins indicate the business converts revenue into operating profit efficiently. For a seed company, sustained margins suggest durable cost control in R&D, production and processing, supporting reinvestment in varieties and dealer networks over multiple seasons.

Improving net margin and ROE

Rising net margins and improved ROE point to better cost management and more effective capital use. Higher ROE signals the company is extracting more profit per shareholder rupee, a durable sign of improving business quality and management execution over the medium term.

Focused hybrid-seed business model

A focused model on hybrid seed development, multiplication and dealer distribution aligns with structural agricultural demand and recurring seasonal sales. Owning commercialization and processing activities supports product control and margin capture across growing cycles, a stable long-term revenue base.

Negative Factors

Negative operating and free cash flow

Negative operating and free cash flow means reported profits are not converting into cash, challenging liquidity and the ability to self-fund seed multiplication, inventory and distribution. Persisting cash conversion problems increase reliance on external financing and constrain durable growth investments.

Moderately high leverage

A moderately high debt-to-equity ratio raises financial risk, especially with weak cash conversion. Dependence on debt can increase interest burdens and reduce flexibility to invest in R&D or geographic expansion, making the business more vulnerable to seasonality or financing cost increases.

Limited operational scale

A small employee base suggests limited internal scale for R&D, large-scale multiplication, or broad distribution. Structural growth in seed businesses often requires field trials, regional teams and distribution reach; constrained headcount can limit rollout speed and operational leverage over time.

Bombay Super Hybrid Seeds Ltd. Business Overview & Revenue Model

Company Description

Bombay Super Hybrid Seeds Limited engages in the research, production, processing, and marketing of hybrid and GM seeds in India. The company provides groundnut, chickpea, coriander, sesame, maize, lucerne, fenugreek, wheat, onion, soybean, tomato, fennel, pigeon pea, watermelon, cluster bean, mung bean, beet root, paddy, cucumber, carrot, okra, radish, cauliflower, hot pepper, cabbage, brinjal, bottle gourd, gram, bajra, gum guar, black gram, guar, green gram, cumin, jowar, mustard, toor, limabean, rajka bajri, chilly, brinjal, bhindi, ridge gourd, sponge gourd, bitter gourd, cauliflower, cabbage, papaya, raddish and drumstick seeds. It offers seeds under the Kasturi and Bombay Super brands. The company also imports and exports its seeds. Bombay Super Hybrid Seeds Limited was founded in 1983 and is based in Rajkot, India.

How the Company Makes Money

BSHSL primarily makes money by selling agricultural seeds (notably hybrid seeds) to farmers and agricultural distributors/retailers. Revenue is generated from (a) sales of seed products across crop categories and geographies where it operates, and (b) associated commercialization activities required to bring seed varieties to market (such as multiplication/processing and distribution through dealer networks). Specific details such as crop-wise revenue mix, licensing/royalty income, contract seed production arrangements, export contribution, or named partnerships are not publicly available in the provided context and are therefore null.

Bombay Super Hybrid Seeds Ltd. Financial Statement Overview

Summary

Strong revenue and profit growth with healthy EBIT/EBITDA margins, but the overall score is pulled down by negative operating and free cash flow (weak cash conversion and potential liquidity risk) and a moderately high debt-to-equity ratio.

Income Statement

Bombay Super Hybrid Seeds Ltd. has shown strong revenue growth over recent years, with a notable increase from 2024 to 2025. The gross profit margin has been consistently positive, although the margins have slightly decreased over time. The net profit margin has improved, reflecting better cost management and efficiency. EBIT and EBITDA margins are healthy, indicating strong operational performance.

Balance Sheet

The company maintains a solid equity position with an increasing stockholders' equity over the years. However, the debt-to-equity ratio is moderately high, suggesting reliance on debt financing which could pose risks if not managed properly. Return on Equity (ROE) has improved, indicating better utilization of shareholders' investments.

Cash Flow

Operating cash flow has been negative, which is a concern, though the company has improved its financing cash flow. Free cash flow has been negative, indicating potential liquidity issues. The ratios of operating and free cash flow to net income suggest challenges in converting income to cash, which could impact future operations if not addressed.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Dec 2021
Income Statement
Total Revenue	3.54B	3.59B	2.57B	2.28B	1.94B	1.71B
Gross Profit	548.03M	539.11M	527.63M	366.59M	226.89M	349.12M
EBITDA	371.98M	355.17M	289.48M	218.55M	142.35M	90.89M
Net Income	277.28M	264.05M	222.16M	167.81M	105.04M	57.99M
Balance Sheet
Total Assets	1.63B	2.22B	1.62B	1.33B	977.01M	726.86M
Cash, Cash Equivalents and Short-Term Investments	15.55M	6.21M	1.81M	810.00K	2.63M	51.86M
Total Debt	298.38M	921.40M	480.15M	528.27M	394.72M	303.96M
Total Liabilities	435.70M	1.17B	839.09M	765.42M	582.10M	437.49M
Stockholders Equity	1.19B	1.05B	782.77M	563.36M	394.91M	289.37M
Cash Flow
Free Cash Flow	578.00M	-379.54M	114.12M	-98.74M	-116.93M	-86.37M
Operating Cash Flow	606.29M	-353.23M	115.43M	-70.11M	-114.96M	-72.92M
Investing Cash Flow	51.46M	-68.63M	-20.60M	-25.70M	-1.95M	-9.86M
Financing Cash Flow	-656.70M	379.78M	-93.83M	104.35M	73.71M	135.55M

Bombay Super Hybrid Seeds Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 123.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BSHSL, the sentiment is Negative. The current price of 123.06 is above the 20-day moving average (MA) of 86.15, above the 50-day MA of 91.37, and above the 200-day MA of 117.98, indicating a bearish trend. The MACD of -3.24 indicates Positive momentum. The RSI at 32.86 is Neutral, neither overbought nor oversold. The STOCH value of 25.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BSHSL.

Bombay Super Hybrid Seeds Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NARMADA	70 Outperform	₹1.26B	20.06	―	―	23.65%	-41.93%
NATHBIOGEN	63 Neutral	₹2.73B	46.03	―	1.26%	18.68%	16.47%
AGROPHOS	61 Neutral	₹657.29M	23.51	―	2.51%	69.30%	―
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%
BSHSL	56 Neutral	₹8.45B	35.69	―	―	21.32%	19.54%
SIKKO	56 Neutral	₹2.08B	27.36	―	―	14.93%	-24.77%
NAGAFERT	48 Neutral	₹2.43B	-13.60	―	―	-100.00%	-101.18%