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BSL Limited (BSL)

₹113.84 -2.87% last close, 23 Oct

📊 NSE: BSL 🏢 Textiles - Processing 📢 Latest filing: 17 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, BSL's revenue was ₹170 Cr (+7.4% year on year, +14.8% on the previous quarter), and net profit ₹1.7 Cr (+266.0% year on year); the operating margin was 8.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹170	+7.4%	+14.8%
Operating profit	₹14.3	+16.8%	+41.8%
Net profit	₹1.7	+266.0%	from loss
EPS (₹)	1.67	+263.0%	from loss
Operating margin	8.4%	—	—

Full quarterly financials → Results calendar →

BSL delivery percentage

NSE end-of-day data for Fri, 23 Oct 2026

On Fri, 23 Oct 2026, 90.75% of the BSL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 84.85%. That is close to its usual level. Turnover was only ₹3 lakh, so a handful of trades can move this figure.

90.75%Delivery, 23 Oct

84.85%Own 20-session average

0.6×Volume vs its average

₹113.84NSE close · -2.87%

Delivery in the last 5 sessions: 69.9% · 85.4% · 82.0% · 95.0% · 90.8%

Delivery across the market →

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

BSL Reports Nil Physical Share Transfer Re-Lodgement Requests for September 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 17 Oct 2026, 12:51 PM

BSL Limited submitted its monthly compliance report regarding the re-lodgement of transfer requests for physical shares pursuant to SEBI circular dated January 30, 2026. For the month of September 2026, the company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, reported 0 requests received, processed, approved, or rejected. This filing is a purely administrative regulatory update with zero operational or financial impact on the company.

0 requests received for physical share transfer re-lodgements during September 2026
0 requests processed, approved, or rejected during the month
Report submitted in compliance with SEBI Circular dated January 30, 2026
Confirmation issued by Registrar and Share Transfer Agent MCS Share Transfer Agent Limited on October 17, 2026

💡 No action required. Investors should focus on BSL's upcoming quarterly results and debt reduction progress given its elevated debt of Rs 439 Cr (D/E of 3.66).

BSL Closes Trading Window from October 1, 2026 for Q2 & H1 FY27 Results

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 28 Sep 2026, 05:12 PM

BSL Limited has announced the closure of its trading window for designated persons and their immediate relatives starting Thursday, October 1, 2026. The closure is pursuant to SEBI (Prohibition of Insider Trading) Regulations for reviewing the un-audited financial results for the quarter and half-year ended September 30, 2026. The window will reopen 48 hours after the declaration of the financial results. The specific date for the Board Meeting to consider the results will be intimated separately.

Trading window closes effective Thursday, October 1, 2026
Closure pertains to un-audited financial results for the quarter and half-year ended September 30, 2026
Trading window reopens 48 hours after financial results announcement
Board meeting date to consider results to be communicated in due course

💡 Track the upcoming announcement for the Board Meeting date to assess BSL's Q2 and H1 FY27 operational and financial performance.

BSL Reports Nil Re-Lodgement Requests for Physical Shares in August 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 21 Sep 2026, 01:04 PM

BSL Limited submitted its monthly compliance report regarding the re-lodgement of transfer requests for physical shares pursuant to SEBI circular dated January 30, 2026. For the month of August 2026, the company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, reported 0 requests received, processed, approved, or rejected. This is a purely administrative disclosure mandated by SEBI guidelines with zero operational or financial impact on the company.

Zero (0) requests received for re-lodgement of transfer requests of physical shares during August 2026
Zero (0) requests processed, approved, or rejected during the month
Compliance submitted pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026
Report issued by RTA MCS Share Transfer Agent Limited on September 21, 2026

💡 No action is required. Investors should track core business metrics, including fabric capacity utilization and operating margin performance in upcoming quarterly earnings.

BSL to Acquire 26% Stake in Bhadla Minigrid Solar 5 for ₹2.35 Crore Captive Power Project

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 17 Sep 2026, 05:51 PM

BSL Limited has entered into an agreement to acquire a 26% equity stake in Bhadla Minigrid Solar 5 Private Limited for a total cash consideration of ₹2.35 crore. The target is a special purpose vehicle setting up a captive solar project of up to 4.4 MW AC / 6.5 MW DC along with a 4.92 MWh Battery Energy Storage System (BESS) in Jodhpur, Rajasthan. This captive arrangement is designed to provide renewable power to BSL's manufacturing units located at Mandpam, Bhilwara. The transaction is targeted for completion within 4 months and represents an investment of roughly 2% of BSL's ₹120 crore net worth.

Acquiring 23,50,000 equity shares (26% equity stake) at ₹10 per share for ₹2.35 crore
Target SPV setting up a 4.4 MW AC / 6.5 MW DC solar power project plus 4.92 MWH BESS in Setrawa, Phalodi District Jodhpur, Rajasthan
Project will supply captive renewable energy to BSL's plants located at Mandpam, Bhilwara
Indicative timeline for completion of the acquisition is 4 months
Target is a newly incorporated company (incorporated January 31, 2025) with NIL past revenue

💡 Track the completion of the share acquisition within the 4-month timeline and monitor subsequent commissioning updates to gauge operational power cost savings on quarterly EBITDA.

India Ratings Affirms BSL's Rs 519.95 Cr Bank Facilities at 'IND BBB-'; Outlook Stays Negative

🔵 WATCH ⭐ 5/10

OTHER 📅 03 Sep 2026, 04:07 PM

India Ratings and Research (Ind-Ra) has affirmed BSL Limited's credit ratings on its bank loan facilities totaling INR 5,199.50 million (Rs 519.95 Cr). The long-term facilities are rated 'IND BBB-' with a 'Negative' outlook, while short-term instruments are rated 'IND A3'. The Negative outlook reflects ongoing pressure on credit metrics given the company's elevated debt levels (D/E of 3.66 as per latest financials).

Total bank loan facilities rated stand at INR 5,199.50 million (Rs 519.95 Cr).
Long-term bank loan rating affirmed at 'IND BBB-' with a 'Negative' outlook.
Short-term bank loan rating affirmed at 'IND A3'.
Rated facilities encompass fund-based working capital limits, term loans, and non-fund based facilities across several lenders including SBI, PNB, and Bank of Maharashtra.

💡 Track upcoming quarterly operating profitability and cash flow generation to assess whether the company can reduce leverage and avert a potential rating downgrade.

BSL Shareholders Approve All Resolutions at 55th AGM with Over 99.99% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 04:54 PM

BSL Limited has submitted the Scrutinizer's Report and voting results for its 55th Annual General Meeting held on September 1, 2026. All tabled resolutions, including the adoption of FY26 audited financial statements, the reappointment of non-executive director Ravi Jhunjhunwala, and the ratification of cost auditor remuneration, were passed with over 99.99% majority. A total of 58,82,511 votes were polled across 1,02,92,168 total shares, translating to a voting turnout of 57.16%. The announcement is a routine statutory disclosure confirming compliance and shareholder approval.

55th Annual General Meeting concluded on September 1, 2026, via Video Conferencing.
Total votes polled stood at 58,82,511 out of 1,02,92,168 total equity shares (57.16% turnout).
Adoption of FY26 audited financial statements approved with 99.9992% votes in favor.
Reappointment of non-executive director Ravi Jhunjhunwala approved with 99.9991% votes in favor.

💡 This is a routine administrative filing; monitor upcoming quarterly operational performance and margins given high company leverage (D/E of 3.66).

BSL Concludes 55th Annual General Meeting; Voting Results Due by September 3, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 05:53 PM

BSL Limited conducted its 55th Annual General Meeting (AGM) on September 1, 2026, via Video Conferencing. Key resolutions tabled included the adoption of the FY26 audited financial statements, re-appointment of directors retiring by rotation, and ratification of cost auditor remuneration for FY 2026-27. The company noted that remote e-voting concluded on August 31, 2026, and final scrutinizer results will be disclosed on or before September 3, 2026.

Held 55th AGM on September 1, 2026, from 4:00 PM to 5:12 PM IST via Video Conferencing.
Remote e-voting window was open from August 28, 2026 (9:00 AM) to August 31, 2026 (5:00 PM).
Combined voting results and Scrutinizer's Report to be announced within two working days (on or before September 3, 2026).
Put forth 4 ordinary resolutions including FY26 financials adoption and cost auditor remuneration ratification.

💡 Track the upcoming exchange filing for official scrutiny voting results and focus on subsequent quarterly earnings to assess operational recovery and margin trends.

BSL Appoints Anurag Mathur as Chief Operating Officer Effective August 22, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 22 Aug 2026, 01:38 PM

BSL Limited has appointed Shri Anurag Mathur as its Chief Operating Officer (COO), designated as Senior Management Personnel (SMP), with effect from August 22, 2026. The appointment was approved by the Board of Directors upon recommendation from the Nomination and Remuneration Committee. This leadership transition comes as the company seeks operational efficiency to manage its leveraged balance sheet (Debt of Rs 439 Cr with D/E of 3.66).

Shri Anurag Mathur appointed as Chief Operating Officer effective August 22, 2026
Designated as Senior Management Personnel (SMP) pursuant to SEBI Listing Regulations
Board meeting approving the appointment held on August 22, 2026, from 12:25 PM to 01:15 PM

💡 Track subsequent quarterly operational updates and margin performance to evaluate the new leadership's impact on capacity utilization and cost control.

BSL Appoints Anurag Mathur as Chief Operating Officer Effective August 22, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 22 Aug 2026, 01:35 PM

BSL Limited announced the appointment of Shri Anurag Mathur as Chief Operating Officer (COO), categorized as Senior Management Personnel (SMP), effective August 22, 2026. The appointment was approved by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee during their meeting on August 22, 2026. The company operates in textile processing with a debt of ₹439 Cr against net worth of ₹120 Cr (D/E 3.66). Operational leadership remains vital as the company targets operational efficiencies across its annual capacity exceeding 20 million meters.

Shri Anurag Mathur appointed as Chief Operating Officer and Senior Management Personnel.
Appointment effective from August 22, 2026.
Board meeting commenced at 12:25 P.M. and concluded at 01:15 P.M. on August 22, 2026.

💡 Track subsequent quarterly updates to observe any operational improvements, capacity utilization gains, or strategic shifts under the new COO.

BSL Reports Nil Physical Share Transfer Re-lodgement Requests for July 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 19 Aug 2026, 05:45 PM

BSL Limited has submitted its monthly compliance report regarding the re-lodgement of transfer requests for physical shares for July 2026 pursuant to SEBI circular dated January 30, 2026. The Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, confirmed that zero requests were received, processed, approved, or rejected during the month. This filing is purely procedural and carries no financial or operational impact.

Nil (0) physical share transfer re-lodgement requests received during July 2026
Nil (0) requests processed, approved, or rejected by RTA MCS Share Transfer Agent Limited
Filing submitted in compliance with SEBI Circular dated January 30, 2026

💡 No action required. Investors should track upcoming quarterly financial results and capacity utilization trends instead.

Income Tax Department Concludes 4-Day Inspection of BSL's Books of Accounts

🔵 WATCH ⭐ 6/10

REGULATORY 📅 14 Aug 2026, 11:14 PM

Income Tax department officials visited BSL Limited's Corporate Office on 10th August 2026 to conduct a checking of books of accounts. The inspection concluded after four days, with the visiting officials departing on 13th August 2026. BSL stated that the management extended full cooperation and maintains adherence to corporate governance standards. No specific tax demand, seizure, or financial impact was quantified in the disclosure.

Income Tax officials visited BSL's Corporate Office on 10th August 2026 for checking books of accounts
The inspection concluded and officials departed on 13th August 2026 after 4 days
Company management confirmed full cooperation with the authorities
No tax liability, assessment order, or penalty amount was disclosed in the filing dated 14th August 2026

💡 Track subsequent exchange filings for any formal notices, tax demand assessments, or clarifications arising from the Income Tax department's inspection.

3.7x PAT Growth: BSL Reports Q1 FY27 Revenue of ₹169.7 Cr and 8.5% EBITDA Margin

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 11 Aug 2026, 06:41 PM

BSL Limited reported a strong Q1 FY27 performance with revenue growing 7.4% YoY to ₹169.7 Cr, supported by domestic momentum and export recovery. The company achieved a significant turnaround, posting a PAT of ₹1.7 Cr compared to a loss of ₹1.0 Cr in the preceding quarter (Q4 FY26). EBITDA margins expanded by 150 bps sequentially to 8.5%, driven by improved operating efficiency and stable raw material prices. Management is optimistic about future growth following the India-New Zealand FTA signed in April 2026 and improving demand from Africa.

Net Profit (PAT) increased 3.7x YoY to ₹1.7 Cr from ₹0.5 Cr in Q1 FY26.
Revenue from operations grew 7.4% YoY and 14.8% QoQ to ₹169.7 Cr.
EBITDA rose 14.2% YoY to ₹14.4 Cr, with margins improving to 8.5%.
Gross profit margin stood at 44.4%, up 86 bps YoY due to stable input costs.
Export demand showed improvement, specifically in the African market.

💡 Investors should monitor the sustainability of the 8.5% EBITDA margin and the impact of the new India-New Zealand FTA on export volumes. Given the high Debt-to-Equity ratio of 3.66, consistent profitability is crucial for deleveraging the balance sheet.

BSL Q1 FY27 PAT Jumps 3.7x YoY to ₹1.72 Cr; Revenue Up 7.4% to ₹169.7 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 11 Aug 2026, 06:37 PM

BSL Limited reported a 7.4% YoY revenue growth to ₹169.7 Cr for Q1 FY27, supported by the ramp-up of its new cotton fabric segment which contributed ₹20 Cr. EBITDA margins expanded by 52 bps YoY to 8.5%, resulting in a significant 3.7x jump in PAT to ₹1.72 Cr compared to ₹0.47 Cr in the previous year. However, the company remains highly leveraged with a Net Debt to Equity ratio of 3.7x and high finance costs of ₹7.65 Cr, which consumed over 50% of the quarterly EBITDA. Management is targeting higher capacity utilization and leveraging new FTAs with the UK and New Zealand to drive export growth.

Revenue from operations increased 7.4% YoY to ₹169.7 Cr in Q1 FY27.
PAT grew 3.7x YoY to ₹1.72 Cr, recovering from a net loss of ₹0.99 Cr in Q4 FY26.
EBITDA margin improved to 8.5% from 8.0% YoY, driven by better operating leverage.
The new Cotton Fabric segment (commenced Oct 2025) contributed ₹20 Cr to the quarterly revenue mix.
Finance costs remained high at ₹7.65 Cr, reflecting the company's ₹439 Cr debt burden.

💡 Investors should monitor the utilization levels of the cotton spinning project and the company's ability to reduce its high debt-to-equity ratio of 3.7x. Watch for the impact of the India-UK FTA on export volumes in the coming quarters.

BSL Q1 FY27: Net Profit Surges 266% YoY to ₹1.72 Cr on Revenue Growth

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 11 Aug 2026, 04:55 PM

BSL Limited reported a strong recovery in Q1 FY27, with revenue from operations growing 7.4% YoY to ₹169.72 cr. Net profit saw a significant jump to ₹1.72 cr from ₹0.47 cr in the year-ago period, marking a turnaround from the loss reported in the preceding quarter. While operational performance improved, the company remains heavily leveraged with a Debt-to-Equity ratio of 3.66 and high quarterly finance costs of ₹7.65 cr. The results reflect a rebound in demand and better cost management despite ongoing input cost pressures.

Revenue from operations increased 7.4% YoY to ₹169.72 cr from ₹158.01 cr.
Net Profit surged by 266% YoY to ₹1.72 cr compared to ₹0.47 cr in Q1 FY26.
Earnings Per Share (EPS) improved to ₹1.67 from ₹0.45 in the same quarter last year.
Finance costs remained high at ₹7.65 cr, consuming a significant portion of operating margins.
Total Comprehensive Income for the period stood at ₹1.46 cr after accounting for other comprehensive losses.

💡 Investors should monitor the sustainability of this profit turnaround and the company's ability to manage its high debt of ₹439 cr. Key metrics to watch include EBITDA margin expansion and any potential debt reduction plans in upcoming quarters.

BSL Ltd Reports FY26 PAT of ₹2.38 Cr; Schedules 55th AGM for Sept 1, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 28 Jul 2026, 05:28 PM

BSL Limited has released its Annual Report for FY 2025-26 and scheduled its 55th Annual General Meeting (AGM) for September 1, 2026. The company reported a turnover of ₹657.04 Cr, a marginal decline from ₹667.06 Cr in the previous year. Profit After Tax (PAT) saw a sharp 70.8% decline to ₹2.38 Cr from ₹8.16 Cr in FY25, primarily due to margin pressures and volatile input costs. Exports remained a significant contributor at ₹346.20 Cr, though down from ₹385.56 Cr in the prior year.

Turnover for FY26 stood at ₹657.04 Cr, down 1.5% from ₹667.06 Cr in FY25
Net Profit (PAT) dropped significantly to ₹2.38 Cr from ₹8.16 Cr in the previous year
Exports contributed ₹346.20 Cr, accounting for approximately 52.7% of total turnover
Gross Block increased to ₹389.18 Cr from ₹350.70 Cr, reflecting ongoing asset investments
The 55th AGM is scheduled for September 1, 2026, with e-voting starting August 28, 2026

💡 Investors should review the full Annual Report for management's strategy on margin recovery and debt management, given the high Debt-to-Equity ratio of 3.66. Monitor the AGM for commentary on capacity utilization and the impact of cotton price volatility.

View All BSL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, the Yarn segment contributed ₹89 Cr (48% of revenue), Fabric contributed ₹65 Cr (36%), Furnishing contributed ₹21 Cr (11%), and Others contributed ₹9 Cr (5%). The Fabric segment showed significant sequential growth from ₹54 Cr in Q1 FY26 to ₹65 Cr in Q2 FY26, a 20.3% increase.

Geographic Revenue Split

The company exports to 60 countries globally and maintains a strong domestic presence in India, though specific percentage splits per region are not disclosed in the provided documents.

Profitability Margins

Gross Profit margin stood at 39.7% (₹73 Cr) in Q2 FY26, a decline from 43.4% (₹77 Cr) in Q2 FY25. PAT margin improved sequentially to 0.9% in Q2 FY26 from 0.3% in Q1 FY26, driven by a 3.7x growth in absolute PAT to ₹1.7 Cr.

EBITDA Margin

EBITDA margin was 7.5% in Q2 FY26, compared to 8.0% in Q1 FY26 and 8.8% in Q2 FY25. The 130 bps YoY decline was attributed to temporary input cost pressures and price adjustments.

Capital Expenditure

The company operates a fully integrated unit with state-of-the-art technologies sourced globally; however, specific planned capital expenditure in INR Cr for the upcoming fiscal year is not disclosed.

⚙️ Operational Drivers

Raw Materials

Key raw materials include cotton (specifically mentioned as a driver for margin rebound), synthetic fibers for blended fabrics, and wool for worsted suiting. Raw material costs represent approximately 60.3% of revenue based on Q2 FY26 gross margins.

Import Sources

The company sources cutting-edge manufacturing technologies globally, though specific sourcing countries for raw materials like cotton or synthetic fibers are not listed.

Capacity Expansion

Current production capacity exceeds 20 million meters of fabric annually. The company is focusing on improving capacity utilization to drive a gradual rebound in profitability.

Raw Material Costs

Raw material costs were approximately ₹111.3 Cr in Q2 FY26. Management anticipates a rebound in profitability supported by stable raw material costs driven by softer cotton prices.

Manufacturing Efficiency

The company operates a vertically integrated unit encompassing spinning, weaving, processing, and manufacturing to ensure seamless production and quality control.

Logistics & Distribution

The company maintains an extensive distribution network reaching 60 countries, though specific logistics costs as a percentage of revenue are not provided.

📈 Strategic Growth

Expected Growth Rate

16.70%

Growth Strategy

Growth will be achieved through a focus on operational excellence, innovation, and customer-centric strategies. The company plans to leverage robust market demand and higher production volumes while utilizing softer cotton prices to improve margins.

Products & Services

Synthetic, worsted, and cotton yarns; synthetic and worsted suiting fabrics; and a variety of furnishing fabrics.

Brand Portfolio

BSL Suiting (synthetic blended fabrics) and Geoffrey Hammonds (premium worsted fabrics).

Market Expansion

The company is focused on maintaining its global footprint across 60 countries and strengthening its position in the domestic suiting and furnishing markets.

Market Share & Ranking

The company is recognized as a leader in the textile industry with a history dating back to 1971, though specific market share percentages are not provided.

🌍 External Factors

Industry Trends

The textile industry is seeing a trend toward vertical integration and a rebound in demand for premium suiting and furnishing fabrics. BSL is positioned as a vertically integrated player to capture this demand.

Competitive Landscape

The company competes in the synthetic and worsted fabric markets globally, focusing on high-quality blended fabrics to differentiate from commodity players.

Competitive Moat

Durable advantages include its fully integrated manufacturing unit (spinning to processing), a 50-year brand legacy, and IS/ISO 9001-2008 quality certifications.

Macro Economic Sensitivity

Highly sensitive to global cotton price cycles; softer cotton prices are currently viewed as a positive catalyst for a gradual rebound in profitability.

Consumer Behavior

Management notes robust market demand across key business categories, indicating a positive shift in consumer appetite for branded suiting and furnishings.

Geopolitical Risks

Operating in 60 countries exposes the company to international trade barriers and global economic shifts, though specific impacts are not quantified.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with SEBI Listing Obligations and Disclosure Requirements (Regulations 17 to 27). Operates under IS/ISO 9001-2008 standards.

Environmental Compliance

The company is committed to socially and environmentally responsible practices and holds Oeko-Tex Standard 100 certification (Confidence in Textiles) for testing harmful substances.

Legal Contingencies

There were no penalties or strictures imposed on the company by Stock Exchanges, SEBI, or any statutory authority regarding capital markets during the last three years.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material costs (cotton and synthetic fibers) and the ability to maintain margins during price adjustments are primary business risks.