Beardsell Limited (BEARDSELL)
₹23.29 +3.47% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Beardsell's revenue was ₹72.2 Cr (+10.0% year on year, +0.6% on the previous quarter), and net profit ₹2.3 Cr (-22.1% year on year); the operating margin was 5.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹72.2 | +10.0% | +0.6% |
| Operating profit | ₹4.3 | -23.0% | -35.2% |
| Net profit | ₹2.3 | -22.1% | -48.4% |
| EPS (₹) | 0.57 | -23.0% | -48.6% |
| Operating margin | 5.9% | — | — |
BEARDSELL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 56.18% of the BEARDSELL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 74.54%. That is lower than usual for this stock. Turnover was only ₹8 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 84.0% · 88.2% · 74.1% · 89.1% · 56.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Beardsell Limited has issued notice for its 89th Annual General Meeting (AGM) to be conducted virtually on September 28, 2026. The company has fixed September 21, 2026, as the record date to determine eligibility for a final dividend of Re. 0.10 per equity share (face value Rs. 2). If approved by shareholders at the AGM, the dividend will be disbursed on or before October 27, 2026. Remote e-voting opens on September 25, 2026, and closes on September 27, 2026.
- Final dividend recommended at Re. 0.10 per equity share of face value Rs. 2 each for FY26
- Record date and e-voting cut-off date fixed for September 21, 2026
- 89th Annual General Meeting scheduled for Monday, September 28, 2026, via Video Conferencing
- Remote e-voting window active from September 25 (9:00 AM) to September 27, 2026 (5:00 PM)
CARE Ratings has reaffirmed Beardsell Limited's credit ratings across its bank facilities and fixed deposit program. The long-term bank facilities rating stands reaffirmed at 'CARE BBB; Stable' with the rated amount reduced to Rs 25.79 crore from Rs 29.20 crore. Short-term bank facilities of Rs 30.00 crore were reaffirmed at 'CARE A3+', while the Rs 5.00 crore fixed deposit program remains rated 'CARE BBB; Stable'. The affirmation underscores stable operational continuity without any changes to debt servicing outlook.
- Long-term bank facilities rating reaffirmed at 'CARE BBB; Stable' on Rs 25.79 crore (reduced from Rs 29.20 crore)
- Short-term bank facilities rating reaffirmed at 'CARE A3+' for Rs 30.00 crore
- Fixed deposit rating of Rs 5.00 crore reaffirmed at 'CARE BBB; Stable'
- Total rated quantum across bank facilities and fixed deposits stands at Rs 60.79 crore
Beardsell reported a 9.9% YoY revenue growth to ₹72.20 Cr for Q1 FY27, primarily driven by its core insulation segment. However, net profit declined 22% YoY to ₹2.26 Cr, down from ₹2.90 Cr in the same quarter last year, as raw material costs surged by 23.5% to ₹48.70 Cr. The company has fixed September 21, 2026, as the record date for a final dividend of ₹0.10 per share. Operating margins faced pressure, with material costs consuming 67.4% of revenue compared to 60% in the previous year's quarter.
- Revenue from operations increased 9.9% YoY to ₹72.20 Cr in Q1 FY27.
- Net profit fell 22% YoY to ₹2.26 Cr, impacted by higher input costs.
- Cost of materials consumed rose to ₹48.70 Cr from ₹39.42 Cr in Q1 FY26.
- Insulation segment revenue contributed ₹67.81 Cr, representing 93.9% of total revenue.
- Record date for ₹0.10 per share final dividend fixed for September 21, 2026.
Beardsell Limited has fixed September 21, 2026, as the record date for a final dividend of Re. 0.10 per share for FY26. For Q1 FY27, the company reported a 10% YoY growth in consolidated revenue to Rs 72.20 crore, driven by its core insulation segment. However, net profit for the quarter fell to Rs 2.26 crore from Rs 2.90 crore in the previous year's corresponding quarter, reflecting margin pressure. The board also confirmed the reappointment of B Thulasiram & Co as Cost Auditors for the current financial year.
- Final dividend of Re. 0.10 per share announced on a face value of Rs 2.00
- Q1 FY27 consolidated revenue increased to Rs 72.20 crore from Rs 65.66 crore YoY
- Consolidated PAT for Q1 FY27 declined 22% to Rs 2.26 crore compared to Rs 2.90 crore YoY
- Insulation segment revenue grew to Rs 67.81 crore, accounting for 94% of total operations
- Record date for dividend eligibility confirmed as September 21, 2026
Beardsell reported a 10.5% YoY increase in standalone revenue to ₹69.57 Cr for Q1 FY27, but Profit After Tax (PAT) declined 21.2% YoY to ₹2.16 Cr. The profitability hit was primarily driven by a 22% surge in raw material costs, which rose to ₹49.43 Cr. The core Insulation segment saw its margin contract significantly, with segment results falling to ₹3.88 Cr from ₹5.45 Cr in the previous year's quarter. Additionally, the company has fixed September 21, 2026, as the record date for a final dividend of ₹0.10 per share.
- Standalone Revenue from Operations grew 10.5% YoY to ₹69.57 Cr from ₹62.93 Cr.
- Standalone PAT fell 21.2% YoY to ₹2.16 Cr, and dropped 50.2% on a sequential (QoQ) basis.
- Cost of materials consumed increased by 22.1% YoY to ₹49.43 Cr, outpacing revenue growth.
- Insulation segment revenue rose to ₹65.18 Cr, but segment profit dropped to ₹3.88 Cr from ₹5.45 Cr YoY.
- Final dividend of ₹0.10 per share (5% of face value) confirmed with Record Date of September 21, 2026.
Beardsell Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by their Registrar and Share Transfer Agent (RTA), Cameo Corporate Services Limited, covers the period ending June 30, 2026. This is a standard administrative filing confirming that share certificates received for dematerialization have been processed and the records updated with the depositories. It indicates the company is maintaining its routine regulatory obligations.
- Compliance certificate submitted for the quarter ended June 30, 2026
- Certificate issued by Registrar and Share Transfer Agent, Cameo Corporate Services Limited
- Filing completed on July 13, 2026, in accordance with SEBI timelines
- Confirms processing of dematerialization requests as per Regulation 74(5)
Beardsell Limited has notified the exchange that its trading window for insiders will be closed starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. This is a standard procedural requirement for all listed companies in India.
- Trading window closure begins on July 1, 2026
- Closure pertains to the financial results for the quarter ended June 30, 2026
- Window to reopen 48 hours after the declaration of standalone and consolidated results
- Restriction applies to Promoters, Directors, KMPs, and other Designated Persons
Beardsell Limited has successfully defended its corporate name and trademark 'BEARDSELL' in a legal battle against Beardsell Polymers Private Limited. The Division Bench of the Hon’ble High Court of Madras dismissed an appeal filed by the opponents on June 1, 2026, upholding a previous perpetual injunction. This ruling prevents unauthorized entities from using the company's brand name, thereby protecting its market identity and brand equity. Although the company stated there is no material financial impact, the decision secures its long-term intellectual property rights.
- Hon’ble High Court of Madras dismissed the appeal filed by Beardsell Polymers Private Limited on June 1, 2026.
- The court upheld a perpetual injunction in favor of Beardsell Limited regarding the 'BEARDSELL' trademark.
- The legal victory prevents trademark infringement and 'passing off' by the opponent entities.
- The company received the formal court order on June 4, 2026, confirming the favorable legal outcome.
- Management has clarified that the order will not have any material financial impact on the company.
Beardsell Limited has submitted its Secretarial Compliance Report for the financial year ended March 31, 2026, as mandated by SEBI Regulation 24A. The independent review by a Practising Company Secretary confirms that the company has complied with all applicable SEBI regulations, including LODR and Insider Trading norms. No deviations, penalties, or adverse observations were recorded during the review period. This report underscores the company's commitment to maintaining high standards of corporate governance.
- Zero non-compliance or deviations reported for the financial year ended March 31, 2026.
- No fines or penalties were imposed by SEBI or Stock Exchanges on the company, its promoters, or directors.
- Confirmed full compliance with SEBI (Prohibition of Insider Trading) and Related Party Transaction regulations.
- The company maintained a functional website with timely dissemination of all required disclosures.
Beardsell Limited reported a steady financial performance for the fiscal year ended March 31, 2026, with annual revenue growing 4.3% to ₹261.19 crore. Net profit for the full year increased by 12.6% to ₹11.80 crore, although Q4 profit saw a slight dip to ₹3.13 crore from ₹3.33 crore YoY. The company is exploring a strategic relocation of its Turbhe manufacturing facility to optimize resources and potentially unlock value through the redevelopment or commercial use of the existing land.
- Annual Net Profit grew by 12.6% YoY to ₹1,180 lakhs for the financial year ended March 31, 2026.
- Revenue from operations for FY26 stood at ₹26,119 lakhs compared to ₹25,051 lakhs in the previous year.
- Board recommended a final dividend of ₹0.10 per equity share (5% of face value).
- Evaluating relocation of the Turbhe MIDC facility to improve efficiency and explore commercial utilization/redevelopment of the land.
- Reappointed M/s A V Subbarao & Co. as Internal Auditors for a three-year term starting FY 2026-27.
Beardsell Limited reported a steady performance for FY26 with annual revenue from operations reaching ₹26,119 lakhs, up from ₹25,051 lakhs in the previous year. The Board has recommended a final dividend of ₹0.10 per equity share (5% of face value). A key strategic highlight is the decision to evaluate the relocation of the Turbhe MIDC manufacturing facility to improve operational efficiency and potentially unlock value through redevelopment or commercial utilization of the existing land.
- Annual Revenue from Operations increased to ₹261.19 crore in FY26 compared to ₹250.51 crore in FY25.
- Recommended a final dividend of ₹0.10 per equity share of ₹2/- each for the financial year ended March 31, 2026.
- Board is exploring the relocation of the Turbhe MIDC facility to optimize resources and future expansion.
- Reappointed M/s A V Subbarao & Co. as Internal Auditors for a three-year term starting FY 2026-27.
- Statutory auditors G Balu Associates LLP issued an unmodified audit opinion on the financial results.
Beardsell Limited has recommended a final dividend of Rs. 0.10 per equity share (5% of face value Rs. 2) for the financial year ended March 31, 2026. The company reported a standalone annual revenue of Rs. 26,119 lakhs, marking a growth from Rs. 25,051 lakhs in the previous fiscal year. Additionally, the board is exploring the relocation of its Turbhe MIDC manufacturing facility to enhance operational efficiency and future expansion capabilities. Internal auditors have also been reappointed for a three-year term starting FY 2026-27.
- Recommended a final dividend of Rs. 0.10 per equity share for FY 2025-26.
- Standalone annual revenue from operations grew to Rs. 26,119 lakhs from Rs. 25,051 lakhs YoY.
- Decided to evaluate the relocation of the Turbhe MIDC manufacturing facility for better resource optimization.
- Reappointed M/s A V Subbarao & Co. as Internal Auditors for a period of three years.
- Statutory auditors provided an unmodified opinion on the standalone and consolidated financial results.
Beardsell Limited reported a steady performance for the financial year ended March 31, 2026, with standalone revenue from operations rising to ₹26,119 lakhs from ₹25,051 lakhs in the previous year. The Board has recommended a final dividend of ₹0.10 per equity share (5% of face value). A significant strategic update involves the company exploring the relocation and potential redevelopment of its Turbhe MIDC manufacturing facility to improve operational efficiency and optimize resources.
- Standalone annual revenue from operations increased by 4.26% YoY to ₹26,119 lakhs.
- Recommended a final dividend of ₹0.10 per equity share of face value ₹2 each.
- Total standalone income for the quarter ended March 31, 2026, was ₹6,990 lakhs.
- Evaluating relocation of the Turbhe MIDC facility to explore land redevelopment or commercial utilization.
- Reappointed M/s A V Subbarao & Co. as Internal Auditors for a three-year term starting FY 2026-27.
Beardsell Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by the company's Registrar and Share Transfer Agent, Cameo Corporate Services Limited, confirms the processing of share certificates for the quarter ended March 31, 2026. This is a standard regulatory requirement ensuring that the dematerialization and rematerialization of shares are handled correctly. The filing indicates that the company is maintaining its administrative and regulatory obligations as per SEBI guidelines.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Filing adheres to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- Cameo Corporate Services Limited acted as the Registrar and Share Transfer Agent (RTA).
- The document confirms the security certificates received for dematerialization were processed and confirmed to the depositories.
Beardsell Limited has informed the exchanges that its trading window will be closed from April 1, 2026, in compliance with SEBI Insider Trading regulations. This closure affects Promoters, Directors, and Designated Persons ahead of the upcoming financial results. The window will remain shut until 48 hours after the declaration of audited standalone and consolidated financial results for the quarter and year ending March 31, 2026. The specific date for the board meeting to approve these results is yet to be announced.
- Trading window closure effective from April 1, 2026
- Closure pertains to audited financial results for the quarter and year ended March 31, 2026
- Applies to Promoters, Promoter Group, Directors, KMPs, and Designated Persons
- Window to reopen 48 hours after the official announcement of financial results
Financial Performance
Revenue Growth by Segment
The EPS segment grew 14.7% to INR 110.21 Cr in FY25 (from INR 96.04 Cr). Prefab Panels and work contract income grew 7.4% to INR 139.87 Cr (from INR 130.23 Cr). The Trading division (electric motors) accounts for 6% of total operating income.
Geographic Revenue Split
The company operates 8 manufacturing units across India in Chennai, Thane, Bengaluru, Karad, Hyderabad, Hapur, Kochi, and Coimbatore, providing a pan-India presence to serve regional industrial hubs.
Profitability Margins
Net Profit Margin (NPM) improved to 3.73% in FY25 from 3.36% in FY24. For Q1 FY26, the company reported a PAT of INR 2.90 Cr on revenue of INR 65.66 Cr, representing a net margin of 4.42%.
EBITDA Margin
The PBILDT (EBITDA) margin was 8.64% in FY25 (INR 23.21 Cr), a slight decrease from 8.86% in FY24 (INR 21.72 Cr) due to intensified pricing pressure from unorganized competitors.
Capital Expenditure
The company planned a capex of INR 10-15 Cr for the relocation of the Thane plant and EPS capacity enhancement, which was deferred to H2 FY26 due to lower-than-expected demand.
Credit Rating & Borrowing
CARE upgraded the long-term rating to CARE BBB; Stable (from BBB-; Positive) and short-term to CARE A3+ (from A3) in August 2025. Borrowing costs are supported by an improved interest coverage ratio of 6.02x.
Operational Drivers
Raw Materials
Key raw materials include petroleum-based EPS resins and various chemicals used in the production of thermal insulation and packaging products.
Import Sources
Not specifically disclosed, but petroleum-linked resins are subject to global crude oil price fluctuations and international supply chain dynamics.
Key Suppliers
Not specifically disclosed; however, the company acts as a channel partner for Siemens for its electric motor trading division.
Capacity Expansion
Current installed capacity as of March 31, 2025, includes 3,720 MT of EPS, 5,76,000 sq.mt of Isobuild, and 2,89,000 sq.mt of Quikbuild. Expansion of EPS capacity is planned for H2 FY26.
Raw Material Costs
Raw material costs are highly volatile due to their petroleum-based nature. The company faces challenges passing these costs to customers because of stiff competition in the fragmented insulation industry.
Manufacturing Efficiency
Efficiency is maintained through 8 strategically located units. The company achieved a 9% growth in total operating income in FY25 despite a drop in realization.
Logistics & Distribution
The company utilizes its 8 manufacturing units to optimize distribution across major industrial regions in India.
Strategic Growth
Expected Growth Rate
13%
Growth Strategy
Growth is driven by a focus on high-margin work contracts and AMC services for PSUs, capacity expansion in the EPS segment (INR 10-15 Cr capex), and leveraging long-standing relationships with clients in the pharma and engineering sectors.
Products & Services
EPS sheets, rigid polyurethane foam slabs, prefabricated panels (Isobuild and Quikbuild), composite packaging, anti-static packaging, and Siemens electric motors.
Brand Portfolio
Isobuild, Quikbuild.
New Products/Services
Increased focus on installation and maintenance services (AMC) which contributed to the resilience of the PBILDT margin in FY25.
Market Expansion
Relocation and expansion of the Thane plant planned for H2 FY26 to better serve the western region's demand.
Market Share & Ranking
Not specifically disclosed, but the company operates in a highly fragmented industry with significant competition from unorganized players.
Strategic Alliances
Channel partnership with Siemens for the distribution of electric motors in Tamil Nadu.
External Factors
Industry Trends
The industry is evolving toward integrated solutions, with Beardsell positioning itself by offering installation and maintenance services alongside product supply to capture higher value.
Competitive Landscape
Intense competition from both organized and unorganized players in the thermal insulation and prefabricated building segments.
Competitive Moat
The company's moat is built on an 80-year legacy (incorporated in 1936) and long-term relationships with PSU clients, which are sustainable but face pressure from low-cost unorganized competitors.
Macro Economic Sensitivity
Operations are cyclical and sensitive to demand from the construction, consumer durables, and pharma sectors, which are influenced by overall GDP growth and interest rate environments.
Consumer Behavior
Increased demand for cold storage and affordable housing is driving growth in the prefab panel segment (Isobuild and Quikbuild).
Geopolitical Risks
Fluctuations in global oil prices due to geopolitical tensions in the Middle East directly impact the cost of petroleum-based raw materials.
Regulatory & Governance
Industry Regulations
Operations are subject to SEBI (Prohibition of Insider Trading) Regulations and SEBI (LODR) Regulations regarding financial disclosures and trading windows.
Taxation Policy Impact
Not specifically disclosed; results are prepared in accordance with Indian Accounting Standards (Ind AS).
Legal Contingencies
The company clarified that a negative rating action by CRISIL was due to regulatory guidelines and non-cooperation rather than operational failure, as the company had switched its mandate to CARE Ratings.
Risk Analysis
Key Uncertainties
Volatility in raw material prices and cyclical demand from end-user industries are the primary business risks, potentially impacting margins by 2-3% annually.
Geographic Concentration Risk
The company has diversified its risk by operating 8 units across different states in India.
Third Party Dependencies
Dependency on Siemens for the trading division, which accounts for 6% of total operating income.
Technology Obsolescence Risk
The company uses prefabricated panel technology (Isobuild/Quikbuild) which is currently a growing standard in affordable housing and cold storage.
Credit & Counterparty Risk
Receivables quality is supported by a significant proportion of orders from PSU customers, though elongating receivables is noted as a potential negative rating factor.
