---
title: "Bhilai Engineering Corporation Ltd (522283) — Share Price, Financials & Analysis"
symbol: "522283"
company: "Bhilai Engineering Corporation Ltd"
canonical: "https://tapetide.com/stocks/522283"
bse_code: "522283"
sector: "Diversified"
industry: "Diversified"
generated_at: "2026-09-13T18:47:56.895Z"
---

# Bhilai Engineering Corporation Ltd (522283)

Canonical page: https://tapetide.com/stocks/522283

## Company

- **BSE Code:** 522283
- **Sector:** Diversified
- **Industry:** Diversified
- **Macro Sector:** Diversified
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bec-group.com

## About

Bhilai Engineering Corporation Limited engages in engineering, fertilizers, construction, and food businesses in India and internationally. The company primarily offers coke oven machines, coke complexes, coke dry cooling plants, metallurgical and mills/caster equipment, rolling mills, casters, blast furnaces, sinter plants, steel castings, fabricated steel structures, and heavy equipment for steel, power, mining, space research, railway, aluminum, cement, and other sectors; and technological support, engineering, electrical and process automation, civil engineering, erection, commissioning, and operational support services.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -6.25% over past five years.
- Company has a low return on equity of -5.80% over last 3 years.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -259% | — | — |
| revenue growth | -22% | -8% | -6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 163 | 239 | 152 | 147 | 138 | 257 | 171 | 150 | 123 | 197 | 126 | 110 |
| Expenses | 146 | 223 | 159 | 162 | 147 | 247 | 164 | 159 | 138 | 194 | 127 | 119 |
| Operating Profit | 17 | 17 | -7 | -15 | -9 | 9 | 7 | -9 | -15 | 3 | -1 | -9 |
| OPM % | 10 | 7 | -4.7 | -10 | -7 | 3.7 | 4 | -6 | -12 | 1.7 | -1.1 | -8 |
| Other Income | 2 | 3 | 5 | 6 | 6 | 11 | 1 | 1 | 3 | 3 | 2 | 1 |
| Interest | 9 | 10 | 9 | 9 | 9 | 12 | 8 | 8 | 8 | 8 | 8 | 8 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 4 | 5 | 5 | 5 | 5 | 4 | 4 |
| Profit before tax | 4 | 4 | -16 | -24 | -17 | 5 | -5 | -21 | -25 | -7 | -12 | -20 |
| Tax % | 0 | 0 | 0 | 0 | 0 | -452 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | 4 | 4 | -16 | -24 | -17 | 25 | -5 | -21 | -25 | -7 | -12 | -20 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 939 | 911 | 981 | 885 | 902 | 819 | 836 | 693 | 641 | 556 |
| Expenses | 795 | 846 | 841 | 806 | 847 | 711 | 771 | 715 | 657 | 577 |
| Operating Profit | 143 | 65 | 141 | 79 | 55 | 109 | 65 | -22 | -16 | -22 |
| OPM % | 15 | 7 | 14 | 9 | 6 | 13 | 8 | -3.2 | -2.5 | -3.9 |
| Other Income | -24 | 52 | 14 | 14 | 16 | 10 | 10 | 29 | 8 | 9 |
| Interest | 21 | 26 | 24 | 32 | 36 | 37 | 38 | 39 | 34 | 32 |
| Depreciation | 17 | 20 | 27 | 32 | 28 | 24 | 23 | 21 | 19 | 19 |
| Profit before tax | 81 | 72 | 104 | 29 | 7 | 57 | 14 | -53 | -61 | -64 |
| Tax % | 30 | 30 | 38 | 45 | 38 | 37 | 34 | -39 | -30 | — |
| Net Profit | 57 | 51 | 65 | 16 | 4 | 36 | 9 | -32 | -43 | -64 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | — |
| Reserves | 148 | 205 | 254 | 320 | 339 | 346 | 385 | 394 | 362 | — |
| Borrowings | 125 | 97 | 144 | 173 | 197 | 215 | 192 | 151 | 155 | — |
| Other Liabilities | 200 | 503 | 426 | 351 | 346 | 277 | 330 | 342 | 292 | — |
| Total Liabilities | 478 | 810 | 829 | 849 | 887 | 842 | 912 | 893 | 814 | — |
| Fixed Assets | 79 | 90 | 116 | 143 | 150 | 140 | 124 | 109 | 94 | — |
| CWIP | 2 | 8 | 3 | 22 | 9 | 3 | 3 | 3 | 4 | — |
| Investments | 2 | 25 | 30 | 18 | 21 | 11 | 15 | 40 | 58 | — |
| Other Assets | 395 | 687 | 681 | 666 | 708 | 688 | 769 | 740 | 657 | — |
| Total Assets | 478 | 810 | 829 | 849 | 887 | 842 | 912 | 893 | 814 | — |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 71 | 286 | 172 | 32 | 29 | 8 | 27 | 65 | — | — |
| Cash from Investing Activity | -24 | -61 | -75 | -29 | 0 | -43 | -7 | -33 | — | — |
| Cash from Financing Activity | -54 | 0 | 0 | 7 | 0 | -15 | -29 | -14 | — | — |
| Net Cash Flow | -7 | 225 | 96 | 10 | 29 | -49 | -9 | 18 | — | — |
| Free Cash Flow | 47 | 253 | 131 | -41 | 29 | -2 | 18 | 57 | — | — |
| CFO/OP | 56 | 200 | 263 | 55 | 36 | 25 | 46 | 109 | — | — |

### Ratios

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 71 | 87 | 83 | 69 | 106 | 92 | 110 | 106 | 109 | — |
| Inventory Days | 129 | 86 | 121 | 131 | 131 | — | 183 | 150 | 149 | — |
| Days Payable | 71 | 95 | 111 | 105 | 125 | — | 162 | 149 | 133 | — |
| Cash Conversion Cycle | 129 | 78 | 93 | 95 | 113 | 92 | 132 | 108 | 125 | — |
| Working Capital Days | 81 | 56 | 85 | 46 | 57 | 50 | 58 | 65 | 54 | — |
| ROCE % | 45 | 35 | 27 | 28 | 11 | 8 | 16 | 9 | -3 | — |

## Shareholding Pattern

### annual

| Category | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 |
| --- | --- | --- | --- | --- |
| Promoters | 99.83% | 99.83% | 99.83% | 99.83% |
| Public | 0.17% | 0.17% | 0.17% | 0.17% |
| No. of Shareholders | 37 | 37 | 37 | 37 |

### Quarterly

| Category | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% | 99.83% |
| Public | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% |
| No. of Shareholders | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 | 37 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 3.36 | Sell |
| EMA (10) | 3.33 | Sell |
| SMA (20) | 3.56 | Sell |
| EMA (20) | 3.49 | Sell |
| SMA (50) | 3.81 | Sell |
| EMA (50) | 3.76 | Sell |
| SMA (100) | 4.07 | Sell |
| EMA (100) | 4.45 | Sell |
| SMA (200) | 4.55 | Sell |
| EMA (200) | 11.87 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 28.47 | Buy |
| MACD (12,26,9) | -0.19 | Sell |
| Stochastic (14,3,3) | 8.08 | Buy |
| ADX (14) | 30.22 | Buy |
| Williams %R (14) | -83.58 | Buy |
| ATR (14) | 0.17 | High Volatility |
| ROC (12) | -14.25 | Sell |
| Stoch RSI (14) | 46.7 | Neutral |
| UO (7,14,28) | 30.83 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 4 Feb - ED summons dated Feb 2, 2026 (received Feb 3) to Chowgule director for documents under FEMA and Income Tax sections. | [Announcment Under Regulation 30 Of SEBI (LODR) Regulations 2015 4 Feb - ED summons dated Feb 2, 2026 (received Feb 3) to Chowgule director for documents under FEMA and Income Tax sections.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7b6efea6-954d-4e32-87b4-a2ee59ae63f4.pdf) |
| 31 Jan - Board meeting on Feb 11, 2026 to approve unaudited Q3 and nine-month results ended 31 Dec 2025. | [Board Meeting Intimation for Intimation Of Board Meeting Dated 11Th February, 2026 31 Jan - Board meeting on Feb 11, 2026 to approve unaudited Q3 and nine-month results ended 31 Dec 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dcfb9930-00e4-4197-9e5b-34f420e75b1b.pdf) |
| 21 Jan - Compliance certificate per Regulation 74(5) for quarter ended December 31, 2025; RTA confirms dematerialisation processing, no rematerialisation requests. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 21 Jan - Compliance certificate per Regulation 74(5) for quarter ended December 31, 2025; RTA confirms dematerialisation processing, no rematerialisation requests.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/99d93c9d-866b-402f-821b-bf7abac36729.pdf) |
| 11 Feb - Standalone unaudited results for quarter and nine months ended 31-Dec-2025: nine-month PAT ₹72.56 lakh; total income ₹463.16 lakh. | [Financial Results For December 2025 11 Feb - Standalone unaudited results for quarter and nine months ended 31-Dec-2025: nine-month PAT ₹72.56 lakh; total income ₹463.16 lakh.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0f58460a-dcc9-49fc-9292-058fcc586806.pdf) |
| 11 Feb - Approved unaudited results for quarter and nine months ended 31-Dec-2025; PAT ₹29.02L (Q), ₹72.56L (9M). | [Board Meeting Outcome for Outcome Of The Board Meeting And Financial Results For December 2025 11 Feb - Approved unaudited results for quarter and nine months ended 31-Dec-2025; PAT ₹29.02L (Q), ₹72.56L (9M).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6431b5e9-cf24-4f3c-9a84-db3b55dc0341.pdf) |
| — | [Standalone Financial Result For Quarter And Half Year Ended 30Th September, 2020 Under Regulation 33(3) Of SEBI (LODR) Regulation, 2015 Along With Limited Review Report 28 Dec 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=030fd777-dbad-4cc4-a6d9-c612acb2886b.pdf) |
| — | [Standalone Financial Result For Quarter And Half Year Ended 30Th September, 2020 Under Regulation 33(3) Of SEBI (LODR) Regulation, 2015 Along With Limited Review Report 28 Dec 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/030fd777-dbad-4cc4-a6d9-c612acb2886b.pdf) |
| — | [Standalone Financial Result For Quarter And Year Ended 31St March, 2020 Under Regulation 33(3) Of SEBI (LODR) Regulation, 2015 Along With Auditor Report 22 Dec 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c52ea8dd-2d91-4eca-93d1-27070d72e0ce.pdf) |
| — | [Standalone Financial Result For Quarter Ended 30Th June , 2020 Under Regulation 33(3) Of SEBI (LODR) Regulation, 2015 Along With Limited Review Report 22 Dec 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80865e27-505a-4e0a-a07b-b91f601035bb.pdf) |
| — | [Standalone Financial Result For Quarter And Half Year Ended 30Th September, 2020 Under Regulation 33(3) Of SEBI (LODR) Regulation, 2015 Along With Limited Review Report 22 Dec 2020](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3a245ca1-a030-4c61-8818-fdd1389e8c33.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6159ad0b-391c-4fe3-abdf-a473e63cd955.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/223fdbc0-6649-4d9f-a208-593c02ebeb81.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/19eaa380-ecdd-4995-912e-c9bd73ecce76.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/75114501833.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/72873501833.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/66520501833_08_09_20.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/5018330319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/5018330318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/5018330317.pdf) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/501833/5018330316.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:47:56.895Z.