BSE: 544551
BHAVIK ENTERPRISES LIMITED
Trades in polymers — specifically polyethylene and polypropylene — and is the authorised distributor of Borouge Pte Ltd in India, supplying these resins to industrial buyers. Revenue from operations for FY26 was Rs 628.4379 crore, up 19.2% from the prior year, with profit after tax more than doubling to Rs 1,356.41 lakhs. The business is asset-light: capex in FY26 was Rs 0.0716 crore, employee cost Rs 2.8231 crore (0.4% of revenue), and other operating expenses Rs 24.4345 crore (3.9% of revenue). In September 2025, the company completed an IPO on the BSE SME platform, issuing 45 lakh shares at Rs 140 each for Rs 6,300 lakhs gross (Rs 5,460.18 lakhs net), with the bulk of proceeds — Rs 4,750 lakhs — earmarked for working capital to fund polymer purchases. The company has been recognised with the Corporate Excellence Award at APEA-2026 in Kuala Lumpur. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Trading in polyethylene and polypropylene. Asset-light polymer trading and distribution, recently listed on BSE SME
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 628 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 6.66 |
| ROE % · ROCE % | — · 11.3 |
| Debt / equity (x) | — |
| Cash from operations | 15 |
| Capex | (0) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 294 | 334 |
| Profit before tax | 6 | 13 |
| Net profit | — | — |
| EPS (₹) | 2.69 | 4.57 |
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. % |
|---|---|---|---|---|---|---|---|---|
| UNIPHOS ENTERPRISES LTD | 607 | 30.0 | 0.25 | — | 0.8 | 0.8 | — | — |
| VINYL CHEMICALS (I) LTD. | 481 | 20.7 | 3.69 | — | 12.7 | 16.8 | — | 9.0 |
| EVEXIA LIFECARE LIMITED | 310 | 55.0 | 0.71 | 108.2 | 0.4 | 0.3 | 0.7 | 3.3 |
| BHAVIK ENTERPRISES LIMITED ◆ | 303 | 20.5 | — | — | — | 11.1 | — | — |
| SHANKAR LAL RAMPAL LTD | 243 | 13.2 | 1.98 | — | 11.0 | 14.7 | — | 9.4 |
| A-1 LIMITED | 236 | 21.4 | 4.36 | 22.0 | 11.1 | 14.8 | — | 3.5 |
| MYSORE PETRO CHEMICALS L | 75 | 46.9 | 0.33 | 80.5 | 0.4 | 0.2 | 18.0 | (0.4) |
| Yash Chemex Limited | 51 | 25.1 | 0.83 | 13.9 | 4.0 | 5.2 | 20.6 | (0.0) |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.5 | 20.6 | 6 of 12 | 55% |
| ROCE | 11.1 | 3.0 | 5 of 14 | 69% |
| Market cap | 303 | 75 | 4 of 13 | 75% |
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 to approve half-year results on 30 October 2026 | results | low | — | — |
| 9 Oct 2026 · RTA compliance certificate for Sep 2026 quarter filed with BSE | compliance | minimal | — | — |
| 4 Sept 2026 · Bhavik Enterprises: All 7 resolutions passed at 19th AGM including director pay revisions | compliance | minimal | — | — |
| 3 Sept 2026 · AGM approves MD re-appointment and new secretarial auditor | management changes | low | — | — |
| 2 Sept 2026 · 19th AGM held via video conferencing; 7 resolutions tabled including director remuneration revisions | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Bhavik Enterprises publishes 19th AGM Notice in newspapers | compliance | minimal | — | — |
| 5 Aug 2026 · Annual Report FY26: Revenue up 19%, PAT jumps 139%, IPO listing in Oct 2025 | results | high | — | — |
| 5 Aug 2026 · Notice of 19th AGM on 2 Sep 2026 via VC/OAVM with director remuneration revisions | board shareholder meetings | low | — | — |
| 4 Aug 2026 · Bhavik Enterprises announces 19th AGM on September 2, 2026 | board shareholder meetings | low | — | — |
| 4 Aug 2026 · Bhavik Enterprises board approves pay revision for three directors, sets AGM date | management changes | 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.