BSE: 541178
Benara Bearings and Pistons Li
Manufactures bearings and pistons, operating from Sikandrabad, Agra, and listed on the BSE SME platform. The product range and end-customers are not detailed in the available filings, but the company sits in the industrial-products and capital-goods space. FY26 total income was ₹503.08 lakhs (per the audited results filing), down roughly 54.5% from ₹1,106.88 lakhs in FY25, and the company reported a net loss of ₹1,610.25 lakhs for the year. Reserves have turned sharply negative and borrowings from banks have been classified as Non-Performing Assets, with the company negotiating a One-Time Settlement with lenders. Cost structure is dominated by raw materials at 96.6% of revenue, while other operating expenses were 389.3% of revenue in FY26, reflecting the operational stress. The auditor has issued a Disclaimer of Opinion citing going-concern uncertainty, and the company has two subsidiaries (Benara Solar Pvt Ltd and Securitrans Trading Pvt Ltd). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Bearings and pistons manufacturing. Small, distressed single-business industrial manufacturer with negative net worth, NPA-classified borrowings and ongoing one-time settlement with lenders
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 26 | 20 | 15 | 11 | 4 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | (8.08) | (4.79) | (1.79) | 15.90 | 9.10 |
| ROE % · ROCE % | — · (27.3) | — · (26.4) | — · (9.0) | — · (1443.0) | — · 121.4 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 2 | 1 | (2) | (2) |
| Capex | — | — | — | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 11 | 9 | 6 | 5 | 6 | 3 | 1 |
| Profit before tax | (15) | (5) | (5) | (1) | (12) | (6) | (6) | (10) |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | (6.34) | (2.24) | (2.55) | (0.87) | 12.73 | 3.17 | 3.56 | 5.54 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 0.4 | 26.7 | 2 of 130 | 99% |
| ROCE | 124.0 | 11.3 | 2 of 142 | 99% |
| Revenue growth | (76.3) | 20.6 | 110 of 114 | 4% |
| Market cap | 16 | 273 | 130 of 141 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 20 Oct 2026 · Board meeting on Nov 13, 2026 to consider H1 FY27 results | results | low | — | — |
| 19 Oct 2026 · RTA Confirms All Shares Held in Demat Form for Q2 FY27 | compliance | minimal | — | — |
| 19 Oct 2026 · Declaration of non-applicability of Reg 57(5) for QE Sept 30, 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · AGM results: All 4 resolutions passed with 100 percent approval | compliance | minimal | — | — |
| 29 Sept 2026 · Declaration of non-applicability of Reg 57(4) for QE Dec 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of H1 FY27 results | compliance | minimal | — | — |
| 28 Sept 2026 · 36th AGM Results: All 4 Resolutions Approved by Shareholders | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Scrutinizer Report: All 4 AGM resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 28 Sept 2026 · 36th AGM concluded via video conferencing; 4 resolutions tabled | board shareholder meetings | low | — | — |
| 19 Aug 2026 · FY26 Annual Report and 36th AGM notice filed | board shareholder meetings | medium | — | — |
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.