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Dossier · BEARDSELL LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
BEARDSELL LIMITED NSE: BEARDSELL
Industrials › Capital Goods › Industrial Products › Other Industrial Products
BEARDSELL LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹23.75
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA8.7 · 1.02 · 4.2
Manufactures insulation products and trades related goods, with the insulation business driving 91.1% of segment revenue at Rs.237.94 crore in FY26 and trading contributing the remaining 8.9% at Rs.23.25 crore. The insulation segment earned an EBIT of Rs.22.31 crore while trading delivered Rs.1.15 crore. A manufacturing facility at Turbhe MIDC is being evaluated by the board for relocation to improve operational efficiency and enable future expansion. Consolidated revenue for FY26 stood at Rs.275.04 crore with a net profit of Rs.11.44 crore. Materials form the largest cost line at 59.7% of revenue, followed by other operating expenses at 16.6% and employee costs at 8.7%. Depreciation accounts for 2.7% of revenue and capex 3.5%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Insulation (91%), Trading (9%). Industrial insulation products manufacturer with a small trading arm; materials-heavy cost structure.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
186
232
245
268
275
EBITDA (ex other income)
12
18
21
23
24
margin %
6.6
7.7
8.4
8.5
8.8
Owners' profit
3
8
0
10
11
EPS, as reported (₹)
0.94
2.27
2.10
2.49
2.90
ROE % · ROCE %
— · —
14.7 · 22.3
11.6 · 20.6
12.1 · 17.9
12.4 · 18.6
Debt / equity (x)
—
0.57
0.42
0.32
0.19
Cash from operations
9
15
15
19
26
Capex
(2)
(14)
(14)
(10)
(10)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BEARDSELL LIMITED · 29 October 2026Page 2 of 3
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
68
65
75
66
71
67
72
72
Profit before tax
4
3
2
3
4
4
5
2
Net profit
3
3
2
3
2
2
4
2
EPS (₹)
0.80
0.64
2.49
0.73
0.52
0.53
1.11
0.57
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Insulation
252
91.5
Trading
23
8.5
Total, before eliminations
275
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
HBL ENGINEERING LTD
22,455
24.3
10.14
19.3
36.8
45.3
29.4
26.2
INOX INDIA LIMITED
17,354
68.1
15.53
45.2
23.1
30.0
—
23.4
ESAB INDIA LTD
8,153
36.8
18.99
—
48.1
60.4
—
19.2
HARSHA ENGINEERS INT LTD
3,887
25.1
2.77
15.2
11.1
13.2
—
15.9
W P I L LTD.
3,868
24.5
1.97
11.1
10.2
13.1
13.3
17.7
SUBROS LIMITED
3,834
23.1
3.08
10.9
13.3
16.0
15.9
8.4
ADOR WELDING LTD
2,370
20.9
4.28
17.0
14.8
19.9
20.6
13.8
DIFFUSION ENGINEERS LTD
1,505
27.4
3.71
20.1
12.4
15.2
—
16.6
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
8.7
19.3
9 of 27
69%
P/B
1.0
2.5
4 of 24
87%
ROCE
15.5
12.3
10 of 31
70%
ROE
12.4
10.3
8 of 24
70%
Debt / Equity
0.2
0.2
13 of 24
48%
EBITDA margin
6.6
10.8
18 of 23
23%
Revenue growth
10.0
(5.5)
9 of 23
64%
Profit growth
(22.1)
(5.0)
13 of 23
46%
Market cap
94
103
17 of 31
47%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BEARDSELL LIMITED · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
23 Oct 2026 · Quarterly share dematerialisation compliance certificate submitted
compliance
minimal
—
—
29 Sept 2026 · Beardsell AGM 2026: All 5 resolutions passed, final dividend declared
28 Sept 2026 · Beardsell invites shareholder deposits; offers up to 10.50 percent interest
compliance
minimal
—
—
28 Sept 2026 · Beardsell 89th AGM: Re 0.10 dividend, 5 resolutions, director appointments
board shareholder meetings
low
—
—
6 Sept 2026 · Beardsell files newspaper ad for 89th AGM notice and e-voting details
compliance
minimal
—
—
4 Sept 2026 · Beardsell 89th AGM on Sept 28, 2026; final dividend Re 0.10 per share proposed
board shareholder meetings
low
—
—
20 Aug 2026 · CARE reaffirms Beardsell ratings; long-term facility cut to Rs 25.79 Cr
credit debt
medium
—
—
10 Aug 2026 · Beardsell publishes financial results in newspapers
compliance
minimal
—
—
8 Aug 2026 · Beardsell Q1 FY27 results, Re.0.10 dividend record date and cost auditor reappointment
management changes
medium
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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More audited years; no estimates
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
