Bondada Engineering
Bondada Engineering (BONDADAENGINEERINGLTD) share price was ₹279.00 at the 28 Oct 2026 close; market capitalisation ₹3,116 Cr; P/E (TTM) 14.27; sector Telecom. The share price fell 38.3% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 24.0% year on year to ₹691.7 Cr and net profit rose 29.3% year on year to ₹53.9 Cr (compared with Jun 2025). Promoters held 61.52% of Bondada Engineering in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 57/100 (Good) as of 28 Oct 2026.
Key Fundamentals
SMETelecom - ServicesTelecomPrice-based figures as of 28 Oct 2026, 15:30 IST · EPS basis: Consolidated · TTM
Peer Comparison
Telecommunication › Telecom › Equipment & Accessories › Telecom - Infrastructure
| ₹373.00 | 13.75 | 98,403 Cr | 2.48 | 3.63% | 18.02% | 18.44% | 33,730 Cr | 7,154 Cr | |
| — | 41.26 | 51,958 Cr | 1.88 | 2.36% | 9.65% | 8.77% | 24,445 Cr | 1,255 Cr | |
| ₹242.81 | 64.41 | 37,165 Cr | 6.58 | 0.08% | 6.66% | 12.18% | 7,589 Cr | 604 Cr | |
| — | 14.27 | 3,116 Cr | 4.49 | 0.10% | 28.82% | 42.56% | 2,993 Cr | 223 Cr | |
| ₹142.20 | 9.79 | 3,069 Cr | 1.39 | 0.00% | 13.64% | 16.51% | 2,898 Cr | 315 Cr | |
| ₹1.00 | 1.18 | 1,281 Cr | — | 0.00% | 21.15% | 8.82% | 2,610 Cr | 1,082 Cr | |
| ₹452.65 | 8.84 | 530 Cr | 1.09 | 0.23% | 12.88% | 13.11% | 257 Cr | 60 Cr | |
| Median 7 companies | ₹242.81 | 13.75 | 3,116 Cr | 2.18 | 0.10% | 13.64% | 13.11% | 2,993 Cr | 604 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
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Key Insights
Strengths
3- Company has delivered good profit growth of 89.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.7%
- Company's working capital requirements have reduced from 41.7 days to 28.5 days
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 11% · Jun 2026
AI Analysis — Bull vs Bear
Bondada Engineering Ltd is a telecom infrastructure and renewable energy company with a market cap of approximately ₹3,613 crore, trading at a PE of 17x. The company has delivered 89% CAGR profit growth over 5 years with FY26 PAT jumping 86% YoY to ₹211 crore, while the stock has declined 26% over the past year despite strong operational performance.
- Exceptional profit growth of 89.4% CAGR over the last 5 years, with FY26 PAT rising 86% YoY to ₹211 crore from ₹113 crore in FY25
- Strong return on equity track record of 36% over the last 3 years, indicating efficient capital deployment
- TTM revenue growth of 81% and 3-year compounded sales CAGR of 97%, showing rapid business scaling
- Working capital efficiency improved with requirements reducing from 43.0 days to 28.9 days, freeing up cash for operations
- PE ratio of 17x is relatively modest given the high growth trajectory of 84% TTM profit growth
- Promoter holding at approximately 61.57% with promoter Bondada Raghavendra Rao actively increasing stake through open market purchases in March 2025
- Q4 FY26 revenue at ₹712 crore showing 89.41% YoY growth and 8.11% QoQ sequential improvement, indicating sustained momentum
- Diversification into renewable energy with a 100 MW solar-wind hybrid project worth ₹204.2 crore commissioned by Andhra Pradesh government, providing a 12-year revenue visibility
- Stock has declined 26% over the past 1 year despite strong fundamentals, suggesting market concerns about sustainability or valuation overshoot in prior periods
- Net profit margin of only 6.46% in Q4 FY25 indicates a thin-margin business model vulnerable to cost pressures
- Price-to-book ratio of 5.17x is elevated for an engineering services company, pricing in significant future growth
- Negligible dividend yield of 0.03% means shareholders are entirely dependent on capital appreciation for returns
- Limited institutional ownership with only 0.95% foreign institutional holding suggests lack of institutional confidence or research coverage
- Company listed relatively recently with no 10-year track record available for sales, profit, or stock CAGR, making long-term consistency unverifiable
- High dependence on telecom capex cycles and government renewable energy contracts creates revenue concentration risk in policy-sensitive sectors
- Rapid revenue scaling from ₹287 crore in FY21 to over ₹1,400 crore in FY24 raises execution risk questions around quality control and working capital management at scale
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- FY26 profit surges 86.5% Jun 19
Consolidated net profit rose 86.5% to ₹2,110.79 crore for FY26, while revenue from operations surged 81% to ₹28,428.05 crore.
- ₹1338 Cr NTPC solar order Jun 16
Secured a ₹1,338 crore order from NTPC Renewable Energy for a 250 MW solar project with battery energy storage in Uttar Pradesh.
TL;DR: Bondada Engineering is delivering strong top-line and bottom-line growth with FY26 profit up 86.5% and revenue up 81%. The company is also expanding its renewable energy order book with a significant NTPC solar-plus-BESS win. No visible headwinds in recent news flow. The trend is firmly positive, though sustaining this growth rate and executing on large orders will be key to watch going forward.
Quarterly Results
| Particulars | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 376 | 714 | 558 | 659 | 712 | 914 | 692 |
| Expenses | 338 | 633 | 493 | 581 | 627 | 818 | 614 |
| Operating Profit | 38 | 82 | 65 | 78 | 85 | 96 | 78 |
| OPM % | 10% | 11% | 12% | 12% | 12% | 11% | 11% |
| Other Income | 3 | 3 | 2 | 2 | 5 | 2 | 7 |
| Interest | 7 | 8 | 8 | 10 | 14 | 9 | 10 |
| Depreciation | 2 | 2 | 2 | 3 | 2 | 3 | 3 |
| PBT | 33 | 74 | 57 | 67 | 73 | 87 | 73 |
| Tax % | 25% | 25% | 27% | 22% | 26% | 28% | 26% |
| Net Profit | 25 | 56 | 42 | 52 | 54 | 63 | 54 |
| EPS (₹) | 2.25 | 4.83 | 3.43 | 4.75 | 4.76 | 5.3 | 4.74 |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 224 | 229 | 287 | 334 | 371 | 801 | 1,571 | 2,843 | 2,977 |
| Expenses | 205 | 211 | 271 | 314 | 340 | 732 | 1,396 | 2,508 | 2,639 |
| Operating Profit | 19 | 18 | 16 | 20 | 31 | 68 | 175 | 335 | 337 |
| OPM % | 9% | 8% | 6% | 6% | 8% | 9% | 11% | 12% | 11% |
| Other Income | 0 | 0 | 1 | 0 | 0 | 3 | 9 | 8 | 16 |
| Interest | 2 | 2 | 4 | 3 | 6 | 9 | 25 | 49 | 43 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 1 | 7 | 10 | 11 |
| PBT | 16 | 14 | 12 | 15 | 24 | 62 | 152 | 285 | 300 |
| Tax % | 29% | 27% | 21% | 31% | 23% | 25% | 26% | 26% | — |
| Net Profit | 11 | 10 | 9 | 10 | 18 | 46 | 113 | 211 | 223 |
| EPS (₹) | 1.46 | 1.3 | 1.18 | 1.3 | 2.25 | 4.14 | 9.97 | 18.23 | 19.55 |
| Div. Payout % | 0% | 0% | 0% | 2% | 1% | 1% | 1% | 2% | — |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.82 | 0.82 | 0.82 | 0.82 | 16 | 22 | 22 | 22 |
| Reserves | 28 | 38 | 47 | 57 | 62 | 141 | 424 | 672 |
| Borrowings | 26 | 40 | 47 | 38 | 84 | 73 | 192 | 292 |
| Other Liabilities | 52 | 60 | 76 | 62 | 89 | 270 | 561 | 1,055 |
| Total Liabilities | 107 | 140 | 171 | 158 | 251 | 505 | 1,199 | 2,041 |
| Fixed Assets | 14 | 13 | 13 | 13 | 15 | 41 | 125 | 154 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 16 |
| Investments | 0 | 0 | 0 | 1 | 2 | 2 | 10 | 9 |
| Other Assets | 92 | 126 | 158 | 144 | 235 | 460 | 1,061 | 1,862 |
| Total Assets | 107 | 140 | 171 | 158 | 251 | 505 | 1,199 | 2,041 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | 4 | -18 | 3 | 11 | -32 | 44 | -141 | 125 |
| Investing | -5 | -1 | -2 | -2 | -12 | -52 | -105 | -63 |
| Financing | 6 | 12 | 3 | -12 | 45 | 21 | 246 | 90 |
| Net Cash Flow | 5 | -6 | 4 | -3 | 0 | 13 | 1 | 152 |
| Free Cash Flow | -1 | -19 | 1 | 9 | -36 | 16 | -169 | 84 |
| CFO/EBITDA | 21 | -95 | 52 | 71 | -92 | 78 | -59 | 44 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 74 | 125 | 108 | 86 | 126 | 94 | 124 | 102 |
| Inventory Days | 133 | 184 | 282 | 100 | 118 | 96 | 94 | 134 |
| Days Payable | 138 | 152 | 183 | 63 | 89 | 104 | 108 | 97 |
| Cash Conversion Cycle | 69 | 157 | 207 | 123 | 155 | 86 | 110 | 138 |
| Working Capital Days | 30 | 48 | 47 | 50 | 56 | 38 | 59 | 29 |
| ROCE % | — | 24% | 16% | 19% | 22% | 35% | 39% | 39% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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49 extracted metrics + investor summaries across FY13–FY27.
Documents
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Company Information
Incorporated in 2012, Bondada Engineering Limited provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom and solar energy industry.[1]
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