Bhansali Engineering Polymers Ltd

NSE: BEPL | BSE: 500052 | Sector: Chemicals – Petrochemicals (ABS Resins) | Small-Cap

Business Overview

Bhansali Engineering Polymers Limited (BEPL), incorporated in 1984 and headquartered in Mumbai, manufactures ABS, SAN, AES and ASA resins and their alloys with other plastics, supplying 80+ grades of engineering thermoplastics to the automobile, home appliance, electronics, healthcare and kitchenware industries. The company is virtually debt-free with strong return ratios (ROCE 24%, ROE 17%) and a healthy dividend payout of 55%. Sales have been largely flat over five years (5-year CAGR ~0%), but earnings have picked up in recent quarters: TTM revenue is around 1,519 Cr with TTM PAT of 222 Cr, and Q2 FY27 delivered revenue of 403 Cr, 20% operating margin and PAT of 62 Cr. Promoter holding is steady at 57.48%. In October 2026 the board declared a 2nd interim dividend of 1 per share and moved the ABS capacity expansion completion to March 2027.

Financial Summary

Technical Snapshot

BEPL has recovered sharply from its 52-week low of 74.2 and is trading around 112, about 52% above the low and roughly 19% below the 52-week high of 138. The recovery is backed by improving earnings: quarterly PAT of 62–66 Cr in the last two quarters, against 40–46 Cr a year earlier, with operating margins of 17–20%. The stock has pulled back from the ~129 level seen in early October, and the 108–112 zone is treated as the accumulation range. A hold above this zone can take the stock towards the first target of 120, and a sustained move above that can extend towards the 52-week high zone of 125. These targets are projected over a 3–4 weeks horizon, based on the 52-week price structure and earnings momentum.