Outcome of the Board Meeting held on Tuesday, May 12, 2026
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Bharat Bijlee Ltd reported FY 2026 revenue of ₹2,273.80 crore, up 19.6% from ₹1,901.69 crore in the prior year. However, profit after tax declined 10.1% to ₹120.09 crore from ₹133.65 crore, despite higher revenues. Operating cash flow turned negative at ₹92.50 crore (vs positive ₹175.30 crore in FY25), driven by a sharp ₹180 crore inventory buildup and ₹202 crore rise in trade receivables. Borrowings nearly quadrupled from ₹80 crore to ₹301 crore. The Board recommended a dividend of ₹35 per share (700% on ₹5 face value), subject to shareholder approval. Statutory auditors Deloitte Haskins & Sells issued an unmodified (clean) opinion on the financial results.
While revenue growth was strong near 20%, the PAT decline and negative operating cash flow are concerns. Sharply higher borrowings and inventory buildup indicate working capital stress. The healthy dividend provides some shareholder comfort but the underlying earnings quality has deteriorated.