Bharat Gears LimitedQ1 FY27 Results & Financial Update
Bharat Gears Limited: Q1 FY27 standalone results and company financials – revenue ₹215.65 Cr, PAT ₹0.15 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Bharat Gears Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Bharat Gears Limited reported total income from operations of INR 215.65 crore for the quarter ended June 30, 2026, alongside total income including other streams of INR 216.06 crore on a standalone basis.
Profitability narrowed sharply during the period under review, with profit before tax (PBT) standing at INR 0.20 crore and profit after tax (PAT) registering at INR 0.15 crore.
Basic and diluted earnings per share for the first quarter of fiscal 2027 stood at INR 0.10, reflecting the subdued bottom-line performance.
Total expenses for the quarter reached INR 215.86 crore, driven primarily by cost of materials consumed at INR 112.06 crore and employee benefits expense of INR 36.53 crore.
Statutory auditors Deloitte Haskins & Sells LLP issued a limited review report drawing attention to an ongoing impact assessment by an independent external agency regarding concerns raised by the erstwhile Joint Managing Director concerning certain practices by the Chairman and Managing Director.
The Board of Directors recommended a dividend of INR 1.00 per share on equity shares of face value INR 10 each (10%) for the financial year, subject to shareholder approval at the upcoming Annual General Meeting.
Profit before tax for Q1 FY27 stood at INR 0.20 crore, reflecting compressed margins across the operational cost base during the period.
01 · Business model
What does Bharat Gears do?
Bharat Gears Limited operates as a specialized manufacturer and supplier of automotive gears, catering to diverse segments within the automotive sector.
The company produces an extensive range of gear systems and power transmission components utilized across commercial vehicles, tractors, and utility vehicles from manufacturing facilities located in regions including Maharashtra and Haryana.
Its primary revenue engine is domestic and international component sales to original equipment manufacturers (OEMs), operating within a single primary reporting segment of Automotive Gears and allied activities.
02 · Historical context
What shaped the business before this quarter
During the previous financial year 2025-26, the Chairman and Managing Director received communication regarding passport revocation, subsequently filing an appeal with the competent authority and continuing to discharge executive responsibilities.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹215.65 Cr |
| Total income | ₹216.06 Cr |
| Profit before tax | ₹0.20 Cr |
| Profit after tax | ₹0.15 Cr |
| EPS | ₹0.10 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 0.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 0.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.41 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Standalone revenue from operations reached INR 215.65 crore for Q1 FY27, supported by ongoing component offtake from automotive OEMs.
Other income contributed an additional INR 0.41 crore to the total income pool during the quarter.
Revenue from operations of INR 215.65 crore was generated primarily from the core automotive gears manufacturing and supply business.
What drove margins
Cost of materials and components consumed stood at INR 112.06 crore, while inventory changes in finished goods and work-in-progress contributed a credit of INR 0.28 crore.
Employee benefit expenses were recorded at INR 36.53 crore (including remuneration payable to the Executive Director-Operations), while other expenses totalled INR 58.66 crore.
Finance costs were contained at INR 3.25 crore, and depreciation and amortisation expense accounted for INR 5.08 crore during the quarter.
Cost of materials consumed amounted to INR 112.06 crore for the quarter, forming the single largest expense component.
Employee benefit expenses stood at INR 36.53 crore, inclusive of remuneration payable to the Executive Director-Operations.
Other expenses accounted for INR 58.66 crore during the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company is primarily engaged in the Automotive Gears business and all other activities revolve around the same, resulting in no separate reportable operating segments under Ind AS 108.
06 · Strategy & new businesses
How the company is trying to change its growth mix
Following the central notification of the four Labour Codes effective November 21, 2025, the company assessed incremental financial impacts and noted them as not material based on available guidance.
07 · Reported developments
What changed operationally
The Board recommended a dividend of INR 1.00 per share (10%) for the financial year, pending shareholder approval.
08 · Items worth noticing
The line items that can distort a quick read
The Audit Committee engaged an independent external agency to carry out an impact assessment concerning practices highlighted by the former JMD, with evaluation ongoing as of the board approval date.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Executive Remuneration Approval
Employee benefits for the quarter include remuneration payable to the Executive Director-Operations of INR 11 lakhs approved by the Board of Directors on May 30, 2026.
Reported update
Passport and Citizenship Status
The CMD received communication from the Regional Passport Office regarding passport revocation, against which an appeal was filed with the competent authority and legal steps are underway.
10 · Key Q&A
The quarter, answered directly
What does Bharat Gears do?
Bharat Gears Limited operates as a specialized manufacturer and supplier of automotive gears, catering to diverse segments within the automotive sector.
What is the clearest takeaway from Q1 FY27?
Bharat Gears Limited reported total income from operations of INR 215.65 crore for the quarter ended June 30, 2026, alongside total income including other streams of INR 216.06 crore on a standalone basis.
What drove revenue or demand?
Standalone revenue from operations reached INR 215.65 crore for Q1 FY27, supported by ongoing component offtake from automotive OEMs.
What mattered most for margins or profitability?
Cost of materials and components consumed stood at INR 112.06 crore, while inventory changes in finished goods and work-in-progress contributed a credit of INR 0.28 crore.
What changed operationally beyond the headline numbers?
Following the central notification of the four Labour Codes effective November 21, 2025, the company assessed incremental financial impacts and noted them as not material based on available guidance.
What should the next disclosure help confirm?
Track shareholder approvals at the upcoming Annual General Meeting scheduled for August 13, 2026, including the proposed dividend payout.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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Profit change vs base₹0 cr (0%)
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Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Annual General Meeting: Track shareholder approvals at the upcoming Annual General Meeting scheduled for August 13, 2026, including the proposed dividend payout.
- 02
Regulatory and Legal Proceedings: Track developments regarding the passport appeal and governance matters involving executive leadership.
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