Bansal Roofing Products Ltd

AGM Details

• Date and time: September 12, 2026, 2:00 PM IST.
• Mode: VC/OAVM.

Dividend item amendment

• Final dividend item (Item No. 2) amended; corrected amount per share.

Voting results

• Outcome not disclosed in corrigendum.

Compliance update

• Purpose: comply with Regulation 30 and 36(1)(b) SEBI LODR.
• Action: letters sent to shareholders without registered email IDs.
• Content: letters provide a weblink to access FY2025-26 annual report.
• Enclosed: copy of the letter.
• Info also available on the company website.

Financial highlights

• Total Revenue including Other Income: 15,442.12 Lakhs.
• EBITDA rose to 1,595.71 Lakhs from 930.40.
• PAT rose to 1,054.25 Lakhs from 553.81.
• EPS at 8.00, up from 4.20.
• Revenue grew 59.60% YoY to 15,442.12 Lakhs.
• EBITDA Margin: 10.33%.
• PAT Margin: 6.83%.
• Net Worth rose to 4,220.38 Lakhs.
• Outstanding Borrowings: 227.60 Lakhs; Debt-to-Equity: 0.05.

Expansion & capacity

• Phase 5 expansion: ~26,000 sq ft for shot blasting/painting.
• Phase 6 expansion: ~20,000 sq ft for light fabrication.
• Completion expected by Aug 2026; PEB capacity ~1,200 MT/month.
• Solar MMS line commissioned June 2026; ~2,000 MT/month capacity.
• ISO 9001:2015; ISO 14001:2015; ISO 45001:2018; ZED Gold.

Dividends & capital

• No dividend declared for FY2025-26.
• FY2024-25 dividend declared at AGM (Sept 10, 2025) and paid Sept 30, 2025.
• Authorised share capital: Rs 15,00,00,000.
• Paid-up capital: Rs 13,18,32,000.
• No buybacks, Sweat Equity, Bonus, or Right Issue in FY2025-26.

Governance & compliance

• Board: 6 directors; 50% independent non-executive; two women.
• Independent Directors: Arpita Shah resigned Aug 2025; Yaksh Darji joined; Enu Shah resigned Dec 2025; Nishi Brahmkhatri joined Jan 2026; Ravi Bhandari re-appointed Mar 2026.
• Statutory Auditor: PSCA & CO.
• Internal Auditor: VRAJM & Associates; Secretarial Auditor: Devesh R. Desai; Cost Auditor: Shivam Dave & Co.
• Internal Financial Controls: Adequate; no material weakness.

CSR & sustainability

• CSR spend 11,99,860; CSR obligation 11,87,357.
• Excess of 12,503 to be set off; unspent CSR to be carried forward.
• CSR policy and projects disclosed on company website.

Audits & internal controls

• Statutory Auditor: M/s PSCA & CO.
• Internal Auditor: M/s VRAJM & Associates.
• Secretarial Auditor: Devesh R. Desai.
• Cost Auditor: Shivam Dave & Co.
• No fraud disclosed; internal controls adequate.

Outlook & risks

• Outlook remains positive on infra, manufacturing and renewables growth.
• Risks include raw material price volatility, competition, and project award cycles.

Financial Performance

• Q1 FY27 revenue from operations: Rs45.89 crore; YoY +26.8% vs Rs36.20 crore.
• Q1 FY27 EBITDA: Rs4.12 crore; margin 9% vs 8% in Q1 FY26.
• Q1 FY27 PAT: Rs2.67 crore; YoY +31.9%.
• Q1 FY27 diluted EPS: Rs2.02; vs Rs1.53 in Q1 FY26.
• Sequential: revenue roughly flat vs Q4 FY26; EBITDA and PAT lower QoQ.

Expansion and Capacity

• Phase 5 and Phase 6 expansion under construction; completion by mid-September 2026.
• Phase 6 adds ~200 MT/month light fabrication PEB capacity.
• Q1 FY27 machinery capex: Rs5 crore; CNZ Drone Forming, CNC Plasma, etc.
• Solar MMS entry; high-speed roll-forming machines installed; operating in Q2 FY27.
• Rooftop solar: +100 kW; total rooftop ~300 kW; ~45% electricity from solar.
• Two-shift production model; 8-12 hours; potential extension to 16 hours.

Capacity Utilization and Product Mix

• Roofing sheet capacity 10,000 MT; production 5,072 MT; utilization 50.72%; post-expansion 15,000 MT.
• Decking capacity 6,000 MT; production 552 MT; utilization 9.2%.
• Purlin capacity 1,500 MT; production 1,278 MT; utilization 85.20%; post-expansion 3,600 MT.
• PEB structure capacity 9,600 MT; production 773 MT; utilization 80.86%; post-expansion 15,000 MT.
• Solar structure capacity added; production yet to occur.

Operations and Staffing

• Total employees 300 (100 full-time, 200 contract).
• Mumbai office closed; no revenue contribution.
• Debt around Rs6 crore as of 30 June 2026.
• No external funds required to date; future expansion may use term loan.
• Receivable days historically <14 days; solar projects may push to 30-45 days.

Q&A Highlights

• Solar MMS opportunity: capacity 25,000 tons/month; top line ~ Rs20 crore per month; gross 4-5%; net 2.5-3%.
• Current PEB capacity 1,200 ton/month; with more orders and additional shifts, up to ~2,000 tons possible.
• Order book: target ~Rs200 crore for the year; ~2 months in hand; some Rs24 crore orders under execution.
• Average order size Rs3-5 crore; one order Rs8.5 crore recently; big orders not frequent.
• Receivables may extend to 30-45 days with solar projects; baseline historically <14 days.
• Debt and capex: sandwich panel capex Rs20-30 crore; likely funded by internal accruals; term loans possible.

Meeting Details

• Date and time: Aug 13, 2026 at 02:00 p.m. IST.
• Type and mode: Earnings call recording.
• Availability: Recording on company website and Google Drive link.
• Purpose: Earnings results discussion.

Meeting Details

• Date and time: August 13, 2026, 02:00 PM – 03:00 PM IST.
• Type and mode: Virtual group meeting with analysts/investors.
• Event/organiser: Q1 FY27 Post Earnings Conference Call for analysts and institutional investors.
• Recording: The call may be recorded and disclosed per SEBI regulations.

Participants

• Chairman & Managing Director will represent management.
• Whole-Time Director will participate.
• Head of Finance will participate.
• Chief Financial Officer will participate.
• Company Secretary & Compliance Officer will participate.
• Moderator will facilitate the discussion.

Purpose

• Discuss publicly available information; no UPSI intended.
• Open/group discussions following management briefing.

Business overview

• BRPL designs, manufactures, and installs Pre-Engineered Building structures, roofing and cladding.
• End-to-end PEB solutions include design, fabrication, and installation.
• Serves warehousing, manufacturing, chemical, pharma, engineering, showrooms, and game zones.

Operational highlights

• Phase 5 and Phase 6 expansions under construction; completion expected by mid-September 2026.
• Phase 6 adds approximately 200 MT/month light fabrication capacity.
• Q1 FY2026-27 capex of ₹5 crore for new machinery.
• New Solar MMS segment launched; rooftop solar capacity up to 300 kW.
• Machinery upgrades include C&Z Purlin, High-Speed UP/CP, HAT Purlin, CNC plasma.

Financial performance

• Revenue from operations in Q1 FY2026-27: ₹4,589.04 Lakhs, up 1.23% QoQ.
• EBITDA ₹412.43 Lakhs; margin 8.97%.
• PAT ₹266.47 Lakhs; PAT margin 5.80%.
• YoY revenue growth 26.78%.
• EPS ₹2.02 per share.

Capital structure & liquidity

• Debt at FY26: ₹227.6 Lakhs.
• CRISIL SME 1 grading; ISO 9001:2015; ISO 14001; ISO 45001; MSME ZED Gold.
• Equity shares outstanding: 1.32 crore; Market cap ~₹162.6 crore.

Strategic priorities & outlook

• Strategic entry into Solar Module Mounting Structures (MMS).
• Capex plan: ₹5 crore for automation in Q1 FY2026-27.
• Phase 5/6 completion mid-Sep 2026 to boost capacity.
• Total solar capacity reached 300 kW; ~45% electricity from solar.
• Website www.bansalsolarstructures.com launched; dedicated marketing staff.

Governance & leadership

• Kaushalkumar S. Gupta is Chairman & MD.
• Kailash K. Bansal is Whole-time Director; Operations.
• Sangeeta K. Gupta redesignated Non-Executive Director from 1-Apr-2024.
• Ritu Bansal is Company Secretary & Compliance Officer.
• Jignesh Bansal is Finance Head; Chirag Rana is CFO; Amiya Koley is GM-Production.
• Certifications: CRISIL SME 1; ISO 9001:2015; ISO 14001; ISO 45001; MSME ZED Gold.
• Awards: IPF Fastest Growing Manufacturing Company (2021); Gujarat's Most Promising Brand.

Financial highlights

• Revenue from operations: ₹4,589.04 lakh; total income: ₹4,596.27 lakh.
• Total expenses: ₹4,239.12 lakh.
• Profit before tax: ₹357.15 lakh; profit after tax: ₹266.47 lakh.
• Tax: current ₹81.70 lakh; deferred ₹8.98 lakh.
• Single business segment; no reportable IND AS 108 segments.
• Unaudited results reviewed by Statutory Auditors.

Dividend & AGM

• Dividend proposed: ₹32 per equity share; subject to AGM approval.
• Dividend payable within 30 days post-AGM; record date to be intimated separately.
• 18th AGM on 12 Sep 2026 via Video Conferencing; notice and annual report on website.

Audit & reporting

• Independent Auditor's Limited Review Report attached.