BSE: 521238
BHARAT GLOBAL DEVELOPERS LIMIT
A small BSE-listed entity that has historically traded in agricultural products, gold (and rough diamonds), textiles, construction materials, and other items such as electronics and consultancy, but which has run down operations sharply. In FY26 the only segment recording revenue was Agricultural Products, with the construction material, gold, textile and other segments all reporting zero revenue in the most recent quarters. Materials accounted for 95.1% of revenue in FY26 with negligible employee cost, indicating a trading or distribution model rather than manufacturing. The company posted a small net loss on an EBITDA margin of 0.05%, against total assets of ₹513.76 crore. Filings show a ~95% decline in 9M FY26 revenue versus the prior-year period, with the company's classification on the exchange as IT Hardware / Computers Hardware & Equipments despite the commodity-trading activity. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agricultural Products (100%), Construction Material, Gold, Textile, Other (Electronics, etc.). Small commodity-trading entity that has scaled back from a multi-segment business to a single active segment
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 26 | 669 | 26 |
| EBITDA (ex other income) | (0) | (0) | 5 | 7 | (1) |
| margin % | — | — | 18.1 | 1.1 | (4.1) |
| Owners' profit | 0 | 0 | 3 | 16 | (0) |
| EPS, as reported (₹) | 0.03 | 0.03 | 5.00 | 1.60 | (0.01) |
| ROE % · ROCE % | 0.4 · 0.5 | 0.4 · 0.5 | 3.3 · 4.6 | 8.4 · 11.3 | (0.1) · (0.1) |
| Debt / equity (x) | 7.96 | 7.87 | 0.04 | 0.46 | 0.43 |
| Cash from operations | 0 | (0) | (97) | (156) | 6 |
| Capex | 0 | 0 | (0) | (1) | 0 |
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 | 216 | 276 | 122 | 20 | 6 | 0 | 0 | 0 |
| Profit before tax | 14 | 2 | 3 | 2 | 0 | (0) | (1) | (1) |
| Net profit | 10 | 1 | 2 | 1 | 0 | (0) | (1) | (1) |
| EPS (₹) | 1.03 | 0.14 | 0.20 | 0.14 | 0.55 | (0.04) | (0.13) | (0.11) |
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. % |
|---|---|---|---|---|---|---|---|---|
| GNG ELECTRONICS LIMITED | 8,254 | 58.6 | 10.87 | 42.9 | 17.4 | 18.7 | — | 12.8 |
| RASHI PERIPHERALS LIMITED | 5,299 | 16.6 | 2.60 | 12.4 | 13.9 | 18.0 | — | 3.4 |
| MOSCHIP TECHNOLOGIES LTD | 3,351 | 123.2 | 8.20 | 56.6 | 8.6 | 7.4 | 40.9 | 10.1 |
| NELCO LTD | 1,642 | 425.7 | 12.74 | 57.8 | 2.6 | 3.1 | 6.3 | 11.9 |
| D-LINK INDIA LTD | 1,475 | 13.7 | 2.92 | 9.7 | 20.6 | 27.2 | 16.6 | 8.6 |
| IVALUE INFOSOLUTIONS LTD | 1,167 | 11.2 | 2.06 | 7.4 | 17.3 | 21.9 | — | 13.4 |
| CONTROL PRINT LIMITED | 944 | 24.2 | 2.09 | 9.8 | 9.7 | 15.5 | 18.8 | 13.4 |
| BHARAT GLOBAL DEVELOPERS LIMIT ◆ | 791 | 289.4 | 4.16 | — | (0.1) | (0.1) | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 289.4 | 25.1 | 13 of 16 | 20% |
| P/B | 4.2 | 2.8 | 10 of 16 | 40% |
| ROCE | (0.1) | 14.9 | 17 of 19 | 11% |
| ROE | (0.1) | 9.1 | 14 of 16 | 13% |
| Debt / Equity | 0.4 | 0.1 | 12 of 16 | 27% |
| Revenue growth | (100.0) | 7.0 | 13 of 15 | 0% |
| Profit growth | (178.6) | 30.0 | 14 of 15 | 7% |
| Market cap | 791 | 575 | 8 of 19 | 61% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to review September quarter and half-year results | board shareholder meetings | low | — | — |
| 9 Oct 2026 · Quarterly compliance certificate for share dematerialization, Q2 FY27 | compliance | minimal | — | — |
| 7 Oct 2026 · Website URL change from bgdl.co.in to bharatglobaldevelopers.com | general | low | — | — |
| 28 Sept 2026 · AGM held on 28 Sep 2026; new statutory auditor appointed | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1 till Q2 results announcement | compliance | minimal | — | — |
| 5 Sept 2026 · Newspaper Advertisement for AGM and E-voting Information | compliance | minimal | — | — |
| 3 Sept 2026 · AGM on 28 Sep 2026 via video conferencing, e-voting 25 to 27 Sep | board shareholder meetings | low | — | — |
| 3 Sept 2026 · BRSR filing for FY 2025-26 by Bharat Global Developers | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report FY26; revenue collapsed, PAT turned negative | results | high | — | — |
| 3 Sept 2026 · BGDL Clarifies on Share Price Movement to BSE | compliance | low | — | — |
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.