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Bharat Bijlee Q2FY17: Firstcall are overweight for medium to long term investment

Firstcall India Equity | 21 Dec, 2016  | Follow Author | Add to my Favourites 
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  • Bharat Bijlee Limited is one of the leaders in the electrical engineering industry in India.

  • The company achieved a turnover of Rs. 1436.10 million for the 2nd quarter of the FY 2016-17 as against Rs. 1335.70 million in the corresponding quarter of the previous year, an increase of 7.52%.

  • During the quarter, net profit increased by 1158.21% to Rs. 84.30 million from Rs. 6.70 million in the corresponding quarter ending of previous year.

  • During the quarter, EBIDTA stood at Rs. 143.50 million as against Rs. 77.80 million in the corresponding period of the previous year, up by 84.45%.

  • During the H1 FY17 the company turnover increased to Rs. 2738.80 million from Rs. 2653.60 million in the corresponding period of previous year, up by 3.21%.

  • EPS of the company stood at Rs. 14.92 in Q2 FY17 against Rs. 1.19 in the corresponding quarter of the previous year.

  • In the H1 FY17 PAT of the company increased to Rs. 50.60 million against net loss of Rs. 41.60 million in the previous year.

  • Net Sales of the company are expected to grow at a CAGR of 10% over 2015 to 2018E.



  • At the current market price of Rs. 777.00, the stock P/E ratio is at 15.55 x FY17E and 12.90 x FY18E respectively.

  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 49.98 and Rs. 60.25 respectively.

  • Net Sales of the company are expected to grow at a CAGR of 10% over 2015 to 2018E.

  • On the basis of EV/EBITDA, the stock trades at 10.34 X for FY17E and 9.17 X for FY18E.

  • Price to Book Value of the stock is expected to be at 1.46 x and 1.31 x for FY17E and FY18E respectively.

  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


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Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ,, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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