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Bhansali Engineering Polymers Ltd

| Audited Standalone Financial Results for Q4 and Year Ended March 31, 2026

Report Source

⬤24th Apr 26

Summary : Bhansali Engineering Polymers reports strong FY26 results with capacity expansion, dividend, and unmodified audit opinion.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Total Expenses FY26: 1,19,244.45 lakhs.
  2. Consolidated Total Expenses FY26: 1,19,244.45 lakhs.
  3. Cost of materials Consumed FY26: 86,693.27 lakhs (Standalone & Consolidated).
  4. Employee benefits expense FY26: 6,267.80 lakhs (Standalone & Consolidated).
  5. Standalone Revenue from operations (Net) FY26: 1,39,774.37 lakhs.
  6. Consolidated Revenue from operations (Net) FY26: 1,39,774.37 lakhs.
  7. Standalone Other Income FY26: 3,829.10 lakhs.
  8. Consolidated Other Income FY26: 3,738.86 lakhs.
  9. Standalone Net cash from operating activities FY26: 16,698.95 lakhs (FY25: 10,784.32 lakhs).
  10. Consolidated Net cash from operating activities FY26: 16,811.75 lakhs (FY25: 10,874.56 lakhs).
  11. Standalone Net cash from investing activities FY26: (2,878.71) lakhs (FY25: 23,606.20 lakhs).
  12. Consolidated Net cash from investing activities FY26: (2,991.51) lakhs (FY25: 23,515.96 lakhs).
  13. Standalone Net cash from financing activities FY26: (9,954.34) lakhs (FY25: (9,954.34) lakhs).
  14. Consolidated Net cash from financing activities FY26: (9,954.34) lakhs (FY25: (9,954.34) lakhs).
  15. Standalone Total Assets FY26: 1,28,396.93 lakhs (FY25: 1,10,215.92 lakhs).
  16. Consolidated Total Assets FY26: 1,28,525.63 lakhs (FY25: 1,10,375.08 lakhs).
  17. Standalone Equity Share Capital FY26: 2,488.58 lakhs (FY25: 2,488.58 lakhs).
  18. Consolidated Equity Share Capital FY26: 2,488.58 lakhs (FY25: 2,488.58 lakhs).
  19. Standalone Other Equity FY26: 1,05,704.89 lakhs (FY25: 97,558.43 lakhs).
  20. Consolidated Other Equity FY26: 1,05,833.59 lakhs (FY25: 97,717.59 lakhs).
  21. Standalone Trade Receivables FY26: 25,351.62 lakhs (FY25: 25,546.30 lakhs).
  22. Consolidated Trade Receivables FY26: 25,351.62 lakhs (FY25: 25,546.30 lakhs).
  23. Standalone Cash and Cash Equivalents FY26: 38,680.04 lakhs (FY25: 34,814.14 lakhs).
  24. Consolidated Cash and Cash Equivalents FY26: 38,680.04 lakhs (FY25: 34,814.14 lakhs).
  25. Standalone Trade Payables FY26: 15,169.20 lakhs (FY25: 5,653.01 lakhs).
  26. Consolidated Trade Payables FY26: 15,169.20 lakhs (FY25: 5,653.01 lakhs).
  27. Both standalone and consolidated financial results are presented.
  28. Consolidated results include Joint Venture Company: Bhansali Nippon A & L Private Limited.

Corporate Overview

  1. Satnoor Plant: Bhansali Nagar, Chhindwara, Madhya Pradesh.
  2. Abu Road Plant: Ambaji Industrial Area, Sirohi, Rajasthan.
  3. Implementation of new Labour Codes (Social Security, OSHWC, IR, Wages) with pending state-level notifications.
  4. Reliance on critical long delivery equipment for expansion.
  5. Manufacture of Highly Specialized Engineering Thermoplastics.
  6. Factual and confident regarding expansion plans and financial results.
  7. Single segment: Highly Specialized Engineering Thermoplastics.
  8. Existing capacity: 75,000 TPA.
  9. Expanding capacity to: 1,00,000 TPA.
  10. Capacity expansion from 75,000 TPA to 1,00,000 TPA is on schedule.
  11. Orders placed for critical long delivery equipment.
  12. Balance engineering, procurement, and construction work in progress.
  13. Commissioning of enhanced capacity expected by end September 2026.

Risk Factors

  1. Uncertainty from new Labour Codes implementation.
  2. Risk of material misstatement due to fraud.
  3. Going concern uncertainty if conditions change.
  4. Dependence on critical long delivery equipment.

Key Drivers

  1. Capacity expansion to 100,000 TPA.
  2. New capacity commissioning by September 2026.
  3. Recommended final dividend of Re. 1.
  4. Unmodified audit opinion on financial results.

Auditor’s Report

  1. Unmodified opinion on Standalone Financial Results.
  2. Unmodified opinion on Consolidated Financial Results.

Board Commentary

  1. Re-appointment of Mr. Dilip Krushnarao Shendre as Whole Time Director.
  2. Term of re-appointment: 3 years (April 1, 2027 to March 31, 2030).
  3. Recommended final dividend of Re. 1 (100%) per equity share for FY 2026.
  4. Total dividend for FY 2025-26 is Rs. 4 (400%) per equity share.
  5. Notified new Labour Codes (Social Security, OSHWC, IR, Wages) by Government.
  6. Company has provided for employee benefits per Ind AS 19.
  7. Capacity expansion from 75,000 TPA to 1,00,000 TPA.

Corporate Governance

  1. Auditors comply with ICAI's Code of Ethics.
  2. Mr. Dilip Krushnarao Shendre is not related to any other Director.
  3. Nomination and Remuneration Committee involved in director re-appointment.

Management Discussion & Analysis

Future Strategy

  1. Focus on increasing production capacity.
  2. Timely commissioning of new facilities.

Operational Focus Areas

  1. Ensuring timely completion of capacity expansion.
  2. Compliance with new Labour Codes.

Performance Drivers

  1. Capacity expansion to meet future demand.

Risk Control Measures

  1. Provided for employee benefit obligations per Ind AS 19 for new Labour Codes.

Critical Risks

  1. Uncertainty regarding full implementation of new Labour Codes.
  2. Potential delays in critical long delivery equipment.
Bhansali Engineering Polymers Ltd (BEPL) Quarterly Report Analysis & Insights | Dhanarthi