BSE: 538546
BANSAL ROOFING PRODUCTS LTD
Manufactures pre-engineered buildings (PEB), roofing products and steel structures for industrial and commercial customers in India. FY26 revenue from operations was Rs 154.30 crore with an EBITDA margin of 10.34%. The core business is PEB sheds — a domestic order worth about Rs 8.75 crore for a PEB Shed was secured in July 2026, with a roughly 6-month execution period and 25% advance against the purchase order. PEB manufacturing capacity is being scaled up: Phase 5 and 6 expansions are expected to be operational by August 2026, lifting PEB capacity to 1,200 MT per month. A new ground-mounted solar structure manufacturing line is expected to add around Rs 5 crore per month in revenue from mid-June 2026. Management has also flagged a planned sandwich PUF panel line with Rs 20-25 crore capex and potential annual revenue of Rs 120-150 crore. Materials are the dominant input cost at 67.1% of revenue, followed by other operating expenses at 9.6% and employee cost at 3.1%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pre-engineered buildings (PEB) and roofing products, Solar structure manufacturing, Sandwich PUF panels (planned). Project-based, order-driven industrial manufacturing in pre-engineered buildings and steel products
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 73 | 93 | 106 | 97 | 154 |
| EBITDA (ex other income) | 6 | 7 | 6 | 9 | 16 |
| margin % | 7.9 | 7.4 | 6.1 | 9.5 | 10.3 |
| Owners' profit | 4 | 4 | 4 | 6 | 11 |
| EPS, as reported (₹) | 2.99 | 3.16 | 2.69 | 4.20 | 8.00 |
| ROE % · ROCE % | 19.8 · 21.6 | 17.3 · 20.8 | 12.8 · 17.3 | 16.7 · 22.0 | 25.0 · 32.5 |
| Debt / equity (x) | 0.37 | 0.27 | 0.16 | 0.15 | 0.07 |
| Cash from operations | 6 | 9 | 8 | 2 | 8 |
| Capex | (11) | (7) | (6) | (3) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24 | 17 | 26 | 29 | 36 | 34 | 39 | 45 |
| Profit before tax | 1 | 1 | 3 | 3 | 3 | 2 | 5 | 5 |
| Net profit | 1 | 1 | 2 | 2 | 2 | 1 | 4 | 3 |
| EPS (₹) | 0.67 | 0.39 | 1.72 | 1.41 | 1.53 | 1.11 | 2.71 | 2.65 |
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. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 67,533 | 29.2 | 7.18 | 28.8 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 60,250 | 49.0 | 11.38 | 31.4 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 31,861 | 28.4 | 2.58 | 12.9 | 8.6 | 11.4 | 24.1 | 14.9 |
| RATNAMANI MET & TUB LTD. | 16,161 | 37.3 | 3.84 | 18.9 | 12.7 | 15.6 | 14.4 | 18.5 |
| JINDAL SAW LIMITED | 15,396 | 23.5 | 1.25 | 8.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| USHA MARTIN LTD. | 14,152 | 27.9 | 4.29 | 18.6 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,005 | 29.9 | 3.92 | 17.3 | 14.6 | 16.8 | 34.4 | 17.8 |
| GODAWARI POW & ISP LTD | 12,751 | 14.9 | 2.18 | 9.7 | 13.7 | 17.0 | 5.7 | 21.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.1 | 15.4 | 63 of 105 | 40% |
| P/B | 5.0 | 1.5 | 90 of 101 | 11% |
| ROCE | 32.0 | 9.1 | 4 of 115 | 97% |
| ROE | 25.0 | 8.6 | 5 of 103 | 96% |
| Debt / Equity | 0.1 | 0.2 | 34 of 101 | 67% |
| EBITDA margin | 11.2 | 11.0 | 49 of 100 | 52% |
| Revenue growth | 53.9 | 13.7 | 15 of 97 | 85% |
| Profit growth | 87.8 | 29.3 | 32 of 105 | 70% |
| Market cap | 212 | 216 | 62 of 122 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board meeting set for November 4 to approve September results | results | low | — | — |
| 12 Oct 2026 · RTA confirms demat processing for quarter ended September 2026 | compliance | minimal | — | — |
| 23 Sept 2026 · Trading window closure for Q2 and H1 FY27 results period | compliance | minimal | — | — |
| 14 Sept 2026 · All 6 AGM resolutions passed; Rs 2 per share dividend declared | board shareholder meetings | low | — | — |
| 14 Sept 2026 · All 6 resolutions passed at Bansal Roofing 18th AGM; Rs 2 dividend declared | compliance | minimal | — | — |
| 13 Sept 2026 · Re-appointment of CMD Mr. Kaushalkumar S. Gupta for 5 more years | management changes | high | — | — |
| 12 Sept 2026 · Bansal Roofing 18th AGM: Rs 2 dividend declared, CMD reappointed | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Record date fixed for final dividend and 18th AGM on Sept 12, 2026 | corporate actions | high | — | — |
| 21 Aug 2026 · Corrigendum to 18th AGM notice - Final dividend corrected to Rs 2 per share | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Bansal Roofing Products announces 18th AGM on September 12, 2026 | compliance | minimal | — | — |
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.