B. D. Industries (Pune)Share price, financial results, shareholding and management
- Market cap
- ₹194 cr
- Stock P/E
- 20.3peers 22.8
- Book value
- ₹50.7
- Price to book
- 2.70
- EV / operating profit
- -
- Market cap to sales
- 1.93
- ROCE · FY26
- 23.2%
- ROE · FY26
- 20.6%
- ROE, 3-year average
- 30.4%
- Operating margin · FY26
- 18.0%peers 11.9%
- Sales growth, 3 years
- 22.3%
- Profit growth, 3 years
- 112.2%
- Debt to equity
- 0.25peers 0.29
- Borrowings
- ₹18 cr
- Interest cover
- 7.7×
- Cash from business / op. profit
- -61%
- Debtor days
- 102
- Pledged
- 0.00%
- Promoter holding
- 70.44%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 237
- 52-week high / low
- ₹139 / ₹98
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
B. D. Industries (Pune) share price chart
Close on 6 Nov 2026 · +18.36% on the day · Vol 38,400
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +20.9%
- 3 months
- +24.9%
- 6 months
- +26.5%
- 1 year
- +25.4%
- Traded a day, 20 days
- ₹0.34 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +23% | +20% |
| 3 years, a year | +22% | +112% |
About B. D. Industries (Pune): business, products and customers
B.D. Industries (Pune) moulds large hollow plastic parts such as fuel tanks, urea tanks and roofs for makers of tractors, trucks and construction machines, and also makes pallets, crates and road barricades. Its shares trade on BSE SME.
The BDI group began in Mumbai in 1984 making battery boxes and water tanks, and says it developed India's first rotationally moulded plastic fuel tank. Rotational moulding spins polymer powder inside a heated mould to make large, seamless hollow parts. The listed company runs the Pune plant; its wholly owned subsidiary B.D. Industries (India) runs the Dewas and Hoshiarpur plants and is building a fourth at Zaheerabad in Telangana. It listed on BSE SME on 7 August 2025.
Most sales go to vehicle makers: fuel, AdBlue and hydraulic tanks, fenders, canopies and covers for tractors, trucks, buses and construction equipment, from customers such as John Deere, Mahindra, JCB, Kubota, Escorts and Sonalika. It also sells pallets and crates, traffic cones and barricades, and patented spacers for solar and wind projects. Plants sit close to customer factories to save freight on bulky parts.
Read more about the business
The way it works shapes the numbers. Revenue follows the production schedules of a few large vehicle makers, so one customer can be a third of a year's sales, and polymer, whose price is linked to crude oil, is the main cost, so margins move with resin prices. FY25 revenue jumped partly because the Dewas and Hoshiarpur subsidiary was consolidated from September 2024; FY26 shows the full group.
The offer document compared it with Nilkamal and Time Technoplast, listed plastics processors that also make pallets, crates and moulded industrial products, and the annual report describes the rotomoulding sector as fragmented, with a long tail of small regional job workers.
From the 2025 offer document, the FY26 annual report and the May 2026 investor presentation.
Read the deeper study ↓In its favour
- Sales have grown fast: 22% a year over three years.
- It earns a high return on the money it uses: ROCE 23% in FY26.
- It has little debt for its size: debt to equity 0.25.
- The promoters own a large part of the company: 70.44%.
To watch
- Start of the Zaheerabad plant, proposed for 2026 (investor presentation, May 2026, p.11).
- Dependence on the largest customer, a third of FY25 revenue (offer document, p.122).
- The auditor's adverse remarks on statements filed with the bank and on statutory dues in arrears, and ₹0.5 cr of interest and penalties on statutory dues in FY26 (annual report FY26, p.57, p.73 and p.91).
- Family pay after listing, including the proposal to raise Akshay Saini's commission limit to ₹60 lakh a year, and the company secretary's resignation in July 2026 (annual report FY26, p.6 and p.20).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
B. D. Industries (Pune) revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew roughly in step with sales.
SME companies report every six months.
B. D. Industries (Pune) half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 47.83 | 52.81 |
| Expenses | 40.31 | 42.81 |
| Operating profit | 7.52 | 10 |
| OPM | 15.7% | 18.0% |
| Interest | 1.01 | 1 |
| Depreciation | 0.98 | 2 |
| Profit before tax | 6.07 | 7.40 |
| Net profit | 4.46 | 5.09 |
B. D. Industries (Pune) profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 49 | 55 | 54 | 82 | 100.64 |
| Expenses | 47 | 52 | 49 | 68 | 82.64 |
| Operating profit | 2 | 3 | 5 | 14 | 18 |
| OPM | 3.3% | 5.0% | 9.0% | 17.0% | 18.0% |
| Other income | 1 | 0 | 1 | 2 | 0.69 |
| Interest | 1 | 1 | 1 | 3 | 2 |
| Depreciation | 1 | 1 | 1 | 2 | 3 |
| Exceptional and other items | · | 1 | · | · | · |
| Profit before tax | 1 | 2 | 4 | 11 | 13.46 |
| Tax rate | 0.0% | 50.0% | 25.0% | 27.3% | 29.0% |
| Net profit | 1 | 1 | 3 | 8 | 9.56 |
| EPS ₹ | 580 | 1,490 | 3,180 | 7.67 | 6.73 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
B. D. Industries (Pune) profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 3.3% | 5.0% | 9.0% | 17.0% | 18.0% |
| Tax rate | 0.0% | 50.0% | 25.0% | 27.3% | 29.0% |
| ROCE | · | 25.0% | 32.2% | 45.2% | 23.2% |
| ROE | · | 10.5% | 25.0% | 45.7% | 20.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
B. D. Industries (Pune) debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
B. D. Industries (Pune) balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 10 | 14 |
| Reserves | 9 | 10 | 14 | 11 | 58 |
| Net worth | 9.01 | 10.01 | 14.01 | 21 | 72 |
| Borrowings | 3 | 2 | 5 | 22 | 18 |
| Other liabilities | 12.99 | 14.99 | 12.99 | 26 | 25 |
| Total liabilities | 25 | 27 | 32 | 69 | 115 |
| Fixed assets | 2 | 2 | 2 | 10 | 20 |
| Capital work in progress | 0 | 0 | 0 | 2 | 7 |
| Investments | 0 | 0 | 0 | 0 | 1 |
| Other assets | 23 | 25 | 30 | 57 | 87 |
B. D. Industries (Pune) cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1 | -1 | -1 | 10 | -11 |
| Cash from investing | -2 | 0 | -1 | -8 | -19 |
| Cash from financing | 1 | -1 | 2 | -2 | 34 |
| Net cash flow | 0 | -2 | 0 | 0 | 4 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 89 | 92 | 106 | 97 | 102 |
| Inventory days | 50 | 74 | 116 | 251 | 282 |
| Days payable | 113 | 115 | 105 | 151 | 123 |
| Cash conversion cycle | 26 | 51 | 118 | 197 | 260 |
| Working capital days | 30 | 50 | 75 | 72 | 136 |
B. D. Industries (Pune) peers and competitors
Listed SME companies in the same industryBy sales, B. D. Industries (Pune) is number 85 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Sabar Flex India | 18 | 70.5 | 104 | 0.3 | 1.8% | 0.29 |
| G M Polyplast | 83 | 10.4 | 103 | 8 | 12.0% | 0.04 |
| Sealmatic India | 468 | 46.8 | 103 | 10 | 15.0% | 0.08 |
| Marco Cables & Conductors | 52 | 12.5 | 103 | 4.2 | 12.1% | 1.62 |
| SKP Bearing Industries | 283 | 322.9 | 103 | 0.9 | 9.6% | 0.88 |
| Jyoti Global Plast | 82 | 11.7 | 102 | 7 | 11.8% | 0.39 |
| B. D. Industries (Pune) | 194 | 20.3 | 101 | 9.6 | 18.0% | 0.25 |
| Neetu Yoshi | 931 | 37.3 | 98 | 25 | 31.0% | 0.03 |
| Wol 3D India | 88 | 13.3 | 97.7 | 6.7 | 9.0% | 0.28 |
| Metalic Technoforge | - | - | 96 | 12 | 23.0% | 0.94 |
| Narmadesh Brass Industries | 81 | 22.8 | 95.2 | 3.6 | 4.8% | 0.20 |
| Median of the 10 others | 83 | 22.8 | 102 | 6.9 | 11.9% | 0.29 |
B. D. Industries (Pune) shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
B. D. Industries (Pune) shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 25 | Mar 26 | |
|---|---|---|
| Promoters | 70.44% | 70.44% |
| Foreign investors (FIIs) | 0.99% | - |
| Indian institutions (DIIs) | 6.33% | - |
| Number of shareholders | 336 | 237 |
B. D. Industries (Pune) study: the business from its own documents
Read from 4 of the company's own documentsB. D. Industries (Pune) key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹101.3 cr
- Consolidated, up 20.5%; profit before tax rose 23.9% to ₹13.5 cr and profit after tax was ₹9.6 cr.Annual report FY26, p.4 and p.47
- EBITDA margin
- 17.8%
- In FY26, against 18.9% in FY25 and 5.9% in FY23.Annual report FY26, p.47; offer document, p.111
- Largest customer
- 33.0%
- Share of FY25 revenue from one customer; the top ten gave 75.8%.Offer document, p.122
- Capacity used
- 53%
- 2,396 tonnes processed in FY25 against 4,500 tonnes of capacity at Pune, Dewas and Hoshiarpur; Hoshiarpur ran at 30%.Offer document, p.44; our arithmetic
- Fourth plant
- 750 t a year
- Proposed capacity of the Zaheerabad plant in Telangana, under construction at March 2026.Annual report FY26, p.47
Show 5 more facts
- Renewable energy order
- ₹10.1 cr
- For spacers, including tax, disclosed to BSE on 2 April 2026.Investor presentation, May 2026, p.12
- IPO
- ₹45.4 cr
- 42,00,000 new shares at ₹108 in August 2025; long-term borrowings fell from ₹9.8 cr to ₹0.6 cr.Annual report FY26, p.47 and p.73
- Operating cash flow
- -₹11.4 cr
- In FY26, as receivables and inventory each rose by about ₹11 cr to ₹12 cr; it was ₹10.1 cr in FY25.Annual report FY26, p.62
- Receivables told to the bank
- ₹27.2 cr
- In the March 2026 statement filed with the bank, against ₹21.3 cr in the books; the company cites reconciliation items.Annual report FY26, p.119
- Managing director's pay
- ₹1.2 cr
- In FY26, up from ₹0.7 cr; the two non-executive sons were paid ₹30 lakh commission each.Annual report FY26, p.81
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says its fourth plant at Zaheerabad, with a proposed capacity of 750 tonnes a year, is progressing towards commercial production, with 2026 given as the proposed year of launch, and that patented solar and wind components open a new line of business. It gives no revenue or profit guidance and no order book figure.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
BDI earns a healthy margin making plastic tanks and parts for a small group of big vehicle makers, close to their factories.
Its weak spots are dependence on one large customer and cash that gets stuck in stock and unpaid bills.
AverageCan it set its own prices?Large vehicle makers hold the upper hand, and resin prices move costs, though margins have held up well in the last two years.
StrongHow strong is it against rivals?It is one of the few organised rotomoulders with several plants near customers and long relationships with top tractor and machine makers.
WatchWho are its customers?Well known vehicle makers, but very few of them account for most of the sales.
AverageDoes it need a lot of money?Plants are not costly, but stock and customer dues take a lot of cash as sales grow.
AverageCan it keep finding new work?Its plants have spare room and it is adding renewable energy parts, but most growth still depends on its existing vehicle customers.
AverageDo good and bad years swing a lot?Sales follow tractor and truck production, which moves with the farm and freight cycles.
Who runs B. D. Industries (Pune)?
Promoters, directors and officers; tap a name for the background
DHDalbirpal Hemraj SainiFounding Promoter, Chairman and Managing Director · holds 35.93%
Founded the group in 1984; the offer document says Dalbirpal Hemraj Saini has no formal degree and over three decades in manufacturing, operations and management, and is responsible for the overall working of the company. Has lent the company ₹3.2 cr interest free, repayable on demand.
Offer document, p.141; annual report FY26, p.6 and p.67ASArti SainiPromoter and Non-Executive Director · holds 21.84%
An employee from April 2022 to January 2025 and a non-executive director since; no formal degree per the offer document, with over a decade in manufacturing. The offer document states Arti Saini is the wife of Dalbirpal Saini.
Offer document, p.141 and p.143ASAkshay SainiPromoter and Non-Executive Director · holds 6.34%
Bachelor's in electronic engineering from the University of Mumbai and a family managed business programme at S. P. Jain Institute; with the company since 2011 and an executive director from 2018 to January 2025. Paid ₹30 lakh commission in FY26; shareholders were asked in 2026 to raise the commission limit to ₹60 lakh a year. The offer document states Akshay Saini is a son of Dalbirpal Saini and Arti Saini.
Offer document, p.141 to p.143; annual report FY26, p.20 and p.81RSRahul SainiPromoter and Non-Executive Director · holds 6.34%
BBA from Kingston University; with the company since 2013, an executive director from 2018 to January 2025, and works on supply chain and procurement. Paid ₹30 lakh commission in FY26. The offer document states Rahul Saini is a son of Dalbirpal Saini and Arti Saini.
Offer document, p.142 and p.143; annual report FY26, p.81SDSanjay Devidas PatilWhole-Time Director
B.E. in mechanical engineering from Karnatak University and an MMS in marketing from Somaiya Institute; earlier with Schoeller Allibert Time Materials Handling, Garware Polyester and Goodlass Nerolac. Joined the group in 2018 as senior vice president of the subsidiary; whole-time director since January 2025.
Offer document, p.141; annual report FY26, p.6PGPranshu GargChief Financial Officer
Chartered accountant, earlier with B S R & Co. (KPMG) and MSKA & Associates (BDO), and head of accounts at a promoter group company from 2021 to 2024; CFO since January 2025.
Offer document, p.150LMLaxmidas MerchantIndependent Director
Chartered accountant since 1984 with decades in accounting, finance and taxation; on the board since January 2025.
Offer document, p.142; annual report FY26, p.6AJAjit JindalIndependent Director
Automotive research and development executive with over four decades of experience, formerly a vice president at Tata Motors; appointed on 11 September 2025, the day independent director Vijay Kalantri resigned.
Annual report FY26, p.6 and p.80B. D. Industries (Pune) latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 70.44%.
B. D. Industries (Pune) announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Reg.74(5) of SEBI (DP) Regulations,2018PDF ↗
- AGM/EGMScrutinizer''s Report of 16th Annual General MeetingPDF ↗
- AGM/EGMProceedings of the 16th Annual General Meeting of the CompanyPDF ↗
- Insider Trading / SASTThe Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Aryaman Capital MaPDF ↗
- Insider Trading / SASTTrading WindowPDF ↗
B. D. Industries (Pune) annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
B. D. Industries (Pune) share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on B. D. Industries (Pune)'s data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,42,10,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY22 (₹580.00) and FY23 (₹1,490.00) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about B. D. Industries (Pune)
What does B. D. Industries (Pune) do?
B.D. Industries (Pune) moulds large hollow plastic parts such as fuel tanks, urea tanks and roofs for makers of tractors, trucks and construction machines, and also makes pallets, crates and road barricades. Its shares trade on BSE SME.
What is the share price of B. D. Industries (Pune)?
₹137 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of B. D. Industries (Pune)?
₹194 cr at the close on 6 Nov 2026, on 1,42,10,000 shares.
What is the P/E of B. D. Industries (Pune)?
20.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are B. D. Industries (Pune)'s revenue and profit?
Revenue ₹101 cr and profit after tax ₹10 cr in FY26.
Who are the promoters of B. D. Industries (Pune)?
Dalbirpal Hemraj Saini, Arti Saini, Akshay Saini, Rahul Saini; promoters held 70.44% at 31 March 2026.
What is B. D. Industries (Pune)'s website?
www.bdi-group.org
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Built from 2 annual reports, 1 offer document, 1 investor presentation, 5 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.