BSE: 520127
BALURGHAT TECHNOLOGIES LTD.
Operates in road transport services, generating all of its reported segment revenue from a single 'Transport/Travel' line. In FY26, total revenue was ₹120.08 crore, up 38% from the prior year, but net profit fell sharply to ₹0.55 crore, giving an EBITDA margin of 2.77% and a net profit margin of 0.46%. The cost structure is dominated by materials at 89.2% of revenue, consistent with a fuel-heavy transport operation. Employee cost is 4.7% of revenue and other operating expenses 3.7%, with depreciation at 0.3%. Total assets stand at ₹48.70 crore with a debt-to-equity ratio of 1.5. The latest segment disclosure (period ending 2023-03-31) showed Transport/Travel revenue of ₹64.49 crore and an EBIT margin of 4.8%. The company is listed on BSE under scrip code 520127. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Transport/Travel (100%). Thin-margin, asset-light road transport services
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 62 | 64 | 79 | 87 | 120 |
| EBITDA (ex other income) | 1 | 3 | 4 | 4 | 3 |
| margin % | 2.3 | 4.8 | 5.0 | 4.7 | 2.4 |
| Owners' profit | 1 | 1 | 2 | 2 | 1 |
| EPS, as reported (₹) | 0.61 | 0.84 | 1.46 | 1.24 | 0.36 |
| ROE % · ROCE % | 5.5 · 11.6 | 7.5 · 13.8 | 16.1 · 21.2 | 12.1 · 20.2 | 3.1 · 13.8 |
| Debt / equity (x) | 0.75 | 0.64 | 0.68 | 1.18 | 1.50 |
| Cash from operations | 3 | 4 | 1 | (8) | (4) |
| Capex | (0) | (1) | (0) | (0) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21 | 23 | 26 | 28 | 33 | 28 | 32 | 30 |
| Profit before tax | 1 | 1 | 1 | (1) | (0) | (3) | 5 | 0 |
| Net profit | 1 | 0 | 1 | (1) | (0) | (3) | 5 | 0 |
| EPS (₹) | 0.38 | 0.25 | 0.37 | (0.38) | (0.16) | (1.78) | 2.69 | 0.18 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ABC INDIA LTD. | 31 | 13.1 | 0.54 | — | 4.0 | 3.5 | — | 1.5 |
| INTER STATE OIL CARRIER LTD. | 22 | 11.7 | 1.06 | — | 9.1 | 7.9 | — | 11.2 |
| BALURGHAT TECHNOLOGIES LTD. ◆ | 21 | 12.9 | 1.16 | — | 3.1 | 3.5 | — | 3.6 |
| FRONTLINE CORPORATION LTD. | 17 | 8.6 | 1.05 | 11.1 | 6.8 | 6.3 | — | 5.6 |
| COASTAL ROADWAYS LTD. | 8 | 4.9 | 0.33 | — | 6.2 | 7.6 | — | 14.4 |
| MAHASAGAR TRAVELS LTD. | 3 | 22.6 | 6.52 | — | 81.2 | 3.6 | — | 4.2 |
| Desi Farms India Limited | — | — | — | — | — | (124.2) | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.9 | 15.2 | 25 of 66 | 63% |
| P/B | 1.2 | 1.4 | 21 of 58 | 63% |
| ROCE | 3.5 | 7.0 | 50 of 76 | 35% |
| ROE | 3.1 | 7.3 | 40 of 58 | 32% |
| Debt / Equity | 1.5 | 0.3 | 54 of 58 | 7% |
| EBITDA margin | 3.6 | 11.3 | 57 of 65 | 13% |
| Revenue growth | 7.7 | 12.8 | 39 of 62 | 38% |
| Profit growth | 146.8 | 24.3 | 10 of 56 | 84% |
| Market cap | 21 | 145 | 65 of 78 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Postal Ballot Notice for Re-appointment of Independent Director | compliance | minimal | — | — |
| 15 Oct 2026 · Postal Ballot Notice for re-appointment of Independent Director Mr. Manik Chand Tater | management changes | medium | — | — |
| 14 Oct 2026 · Re-appointment of Independent Director for second five-year term | management changes | medium | — | — |
| 14 Oct 2026 · Board approves re-appointment of Independent Director, postal ballot notice | management changes | medium | — | — |
| 10 Oct 2026 · Routine dematerialisation compliance certificate filed with BSE | compliance | minimal | — | — |
| 3 Oct 2026 · Clarification on share price movement; company denies undisclosed info | regulatory legal | medium | — | — |
| 1 Oct 2026 · BSE seeks clarification from Balurghat Technologies on price movement | regulatory legal | high | — | — |
| 26 Sept 2026 · Trading window closed till 48 hrs after Q2 and H1 FY27 results | compliance | minimal | — | — |
| 1 Sept 2026 · Balurghat Technologies appoints Arpita Bose as Company Secretary | management changes | medium | — | — |
| 13 Aug 2026 · Q1 FY27 results: PAT swings to Rs 31 lakh profit from prior year loss | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.