NSE: BENGALASM · BSE: 533095
BENGAL & ASSAM CO. LTD.
Operates as a holding entity whose FY26 revenue of Rs 2,376.85 crore and net profit of Rs 843.40 crore flows mainly through its Polymer & Textile segment, which contributed Rs 1,905.17 crore (71.6% of period segment revenue). The remaining revenue comes from Others (Rs 528.00 crore, 19.9%), Tyre (Rs 83.08 crore, 3.1%), Cement (Rs 78.54 crore, 3.0%) and Paper (Rs 64.47 crore, 2.4%), pointing to exposure to polymers, tyres, cement and paper businesses through subsidiaries and associates. The Polymer & Textile segment also drove the largest EBIT at Rs 291.84 crore, while Tyre (Rs 39.77 crore), Paper (Rs 37.93 crore) and Cement (Rs 33.21 crore) generated smaller but positive EBIT. On the cost side, materials are the biggest input at 39.9% of revenue, followed by other operating expenses at 22.5%, employee cost at 13.0%, depreciation at 2.7%, with capex at 4.2% of revenue. Total assets stood at Rs 12,450.04 crore at FY26 end. The Board has recommended a dividend of Rs 50 per share (500% on face value of Rs 10) for FY26, subject to shareholder approval. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Polymer & Textile (72%), Others (20%), Tyre (3%), Cement (3%), Paper (2%). Holding-company style entity with diversified industrial exposures across polymer, textile, tyre, cement and paper
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 13,576 | 16,492 | 12,917 | 2,128 | 2,377 |
| EBITDA (ex other income) | 1,301 | 1,527 | 4,770 | 414 | 374 |
| margin % | 9.6 | 9.3 | 36.9 | 19.4 | 15.7 |
| Owners' profit | 628 | 938 | 3,892 | 732 | 823 |
| EPS, as reported (₹) | 555.74 | 830.10 | 3444.99 | 642.14 | 721.96 |
| ROE % · ROCE % | 11.9 · — | 14.3 · — | 45.4 · — | 7.6 · — | 7.7 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 351 | 1,437 | 1,817 | 294 | 252 |
| Capex | (356) | (568) | (591) | (103) | (100) |
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 | 528 | 590 | 490 | 521 | 573 | 642 | 531 | 630 |
| Profit before tax | 73 | 154 | 80 | 93 | 99 | 201 | 33 | 44 |
| Net profit | 256 | 128 | 140 | 231 | 258 | 226 | 156 | 204 |
| EPS (₹) | 219.90 | 113.29 | 117.57 | 195.70 | 216.99 | 191.94 | 134.98 | 178.05 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Tyre | 83 | 3.1 |
| Paper | 59 | 2.2 |
| Cement | 79 | 3.0 |
| Polymer & Textile | 1,905 | 71.6 |
| Others | 528 | 19.9 |
| JK Paper | 5 | 0.2 |
| Total, before eliminations | 2,659 | 100.0 |
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. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.0 | 18.1 | 44 of 200 | 78% |
| P/B | 0.6 | 1.1 | 70 of 253 | 72% |
| ROE | 7.7 | 3.1 | 77 of 257 | 70% |
| EBITDA margin | 11.8 | 48.6 | 176 of 249 | 29% |
| Revenue growth | 20.9 | 12.6 | 96 of 231 | 58% |
| Profit growth | (11.7) | 7.8 | 135 of 251 | 46% |
| Market cap | 6557 | 34 | 19 of 268 | 93% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Reminder notice for special window to dematerialize old physical shares | compliance | minimal | — | — |
| 14 Oct 2026 · YEPL promoter entity rises to 22.57 percent in BACL via NCLT scheme | strategic transactions | medium | — | — |
| 12 Oct 2026 · Registered office shifted from West Bengal to Haryana | general | low | — | — |
| 7 Oct 2026 · Compliance certificate for dematerialisation of securities for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · Inter-se transfer of 2.63% shares within promoter group on HUF dissolution | ownership changes | medium | — | — |
| 29 Sept 2026 · Registered office shift from West Bengal to Haryana gets regulatory approval | general | low | — | — |
| 28 Sept 2026 · Trading Window Closure Ahead of Q2 Financial Results | compliance | minimal | — | — |
| 8 Sept 2026 · BACL 79th AGM: All 5 resolutions passed, 500 percent dividend declared | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · 79th AGM concluded; 500 percent dividend declared, directors reappointed | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Newspaper notice on SEBI special window for physical shares | 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.