---
title: "Baheti Recycling Industries Ltd (BAHETI) — Share Price, Financials & Analysis"
symbol: "BAHETI"
company: "Baheti Recycling Industries Ltd"
canonical: "https://tapetide.com/stocks/BAHETI"
isin: "INE029Q01017"
nse_symbol: "BAHETI"
sector: "Industrial Products"
industry: "Aluminium Copper & Zinc"
market_cap_cr: 867.09
generated_at: "2026-09-13T18:58:14.353Z"
---

# Baheti Recycling Industries Ltd (BAHETI)

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

## Company

- **NSE Symbol:** BAHETI
- **ISIN:** INE029Q01017
- **Sector:** Industrial Products
- **Industry:** Aluminium Copper & Zinc
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2022-12-08
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bahetiindustries.com

## About

Incorporated in 1994, Baheti Recycling 
Industries Ltd manufactures and trades 
non-ferrous metal[1]

## Latest Price

- **Price:** ₹820.85
- **Change:** -7.8 (-0.94%)
- **Open:** ₹835
- **Day High:** ₹839
- **Day Low:** ₹816.25
- **Previous Close:** ₹828.65
- **Volume:** 17250
- **As Of:** 2026-09-11T09:59:25+00:00

## Key Fundamentals

Observed at 2026-09-11T04:36:02.847521Z.

- **Market Cap:** ₹867.09 Cr
- **Classification:** SME
- **P/E (reported):** 32
- **Book Value:** ₹89.66
- **Price to Book:** 9.24
- **Dividend Yield:** 0.06%
- **ROE:** 30.46%
- **ROCE:** 52.25%
- **Debt to Equity:** 2.46
- **Revenue (yearly):** ₹724.86 Cr
- **Net Income:** ₹27.2 Cr
- **EBITDA:** ₹60.97 Cr
- **52-Week High:** ₹881
- **52-Week Low:** ₹478
- **RSI (14):** 59.14

## Tapetide Score

- **Score:** 48 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Rising
- **Percentile:** 39.4 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 25.32 | 9% |
| growth | 82.02 | 9% |
| momentum | 81.86 | 12% |
| ownership | 47.39 | 24% |
| quality | 50.11 | 22% |
| valuation | 25.4 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 125% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.7%

### Weaknesses

- Stock is trading at 9.15 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -108.07% | -2.48% | — |
| ebitda margin growth | 7.83% | 76.47% | 152.25% |
| net income growth | 51.11% | 72% | 125% |
| revenue growth | 38.2% | 27% | 42% |
| roce | 41.71% | 75.34% | 34.41% |
| roe | 76.07% | 21.04% | 589.14% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 160 | 200 | 207 | 223 | 257 | 267 | 315 | 410 |
| Expenses | 170 | 177 | 199 | 210 | 241 | 243 | 294 | 370 |
| Operating Profit | -9 | 22 | 8 | 13 | 16 | 24 | 21 | 40 |
| OPM % | -6 | 11 | 3.7 | 6 | 6 | 9 | 7 | 10 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 2 | 4 | 4 | 6 | 6 | 9 | 8 | 14 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | -11 | 18 | 4 | 6 | 9 | 15 | 12 | 25 |
| Tax % | 0 | 9 | 18 | 26 | 26 | 25 | 23 | 27 |
| Net Profit | -11 | 17 | 3 | 4 | 7 | 11 | 9 | 18 |
| EPS in Rs | -14.86 | 16 | 2.85 | 4.1 | 6.77 | 10.6 | 8.94 | 17.03 |

### Profit & Loss

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 72 | 117 | 148 | 106 | 127 | 248 | 358 | 429 | 524 | 725 |
| Expenses | 70 | 115 | 144 | 102 | 123 | 240 | 344 | 408 | 483 | 664 |
| Operating Profit | 2 | 3 | 4 | 4 | 4 | 7 | 13 | 20 | 41 | 61 |
| OPM % | 3.4 | 2.5 | 2.6 | 3.4 | 3.3 | 3 | 3.7 | 4.7 | 8 | 8 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 |
| Interest | 2 | 2 | 3 | 3 | 3 | 3 | 6 | 10 | 15 | 22 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 3 |
| Profit before tax | 0 | 0 | 1 | 0 | 1 | 4 | 7 | 9 | 24 | 37 |
| Tax % | 24 | 41 | 25 | 33 | 36 | 28 | 24 | 22 | 25 | 26 |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 3 | 5 | 7 | 18 | 27 |
| EPS in Rs | 0.75 | 0.77 | 1.25 | 0.56 | 1.28 | 6.4 | 5.09 | 6.94 | 17.37 | 25.9 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 5 | 10 | 10 | 10 | 10 |
| Reserves | 6 | 6 | 7 | 7 | 7 | 12 | 24 | 31 | 49 | 83 |
| Borrowings | 18 | 28 | 28 | 31 | 38 | 51 | 71 | 102 | 158 | 229 |
| Other Liabilities | 1 | 4 | 6 | 3 | 14 | 14 | 21 | 21 | 32 | 53 |
| Total Liabilities | 28 | 42 | 45 | 45 | 63 | 82 | 127 | 165 | 249 | 376 |
| Fixed Assets | 3 | 5 | 6 | 6 | 7 | 7 | 9 | 10 | 20 | 34 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 2 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Other Assets | 25 | 37 | 39 | 39 | 56 | 75 | 118 | 147 | 227 | 335 |
| Total Assets | 28 | 42 | 45 | 45 | 63 | 82 | 127 | 165 | 249 | 376 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | -1 | 3 | 5 | -1 | 3 | -22 | -11 | -23 | -36 |
| Cash from Investing Activity | -2 | 0 | -2 | -1 | -1 | 2 | -3 | -10 | -5 | -14 |
| Cash from Financing Activity | 2 | 1 | -2 | -4 | 3 | -5 | 26 | 20 | 28 | 50 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -1 | 0 | 0 |
| Free Cash Flow | 0 | -2 | 2 | 4 | -3 | 2 | -25 | -21 | -28 | -46 |
| CFO/OP | 2 | -17 | 89 | 143 | -23 | 56 | -156 | -41 | -47 | -45 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 41 | 76 | 40 | 74 | 73 | 56 | 55 | 41 | 50 | 46 |
| Inventory Days | 64 | 34 | 55 | 60 | 78 | 51 | 61 | 84 | 115 | 134 |
| Days Payable | 2 | 11 | 11 | 8 | 32 | 17 | 20 | 17 | 19 | 25 |
| Cash Conversion Cycle | 103 | 99 | 83 | 126 | 118 | 90 | 97 | 109 | 146 | 155 |
| Working Capital Days | 112 | 104 | 19 | 23 | 33 | 23 | 34 | 29 | 37 | 36 |
| ROCE % | — | 8 | 9 | 8 | 9 | 13 | 15 | 16 | 22 | 22 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 99.98% | 73.37% | 73.4% | 73.4% | 73.98% | 74.51% | 74.69% | 74.13% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.04% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0.02% | 22.9% | 22.8% | 23.67% | 22.91% | 21.79% | 20.93% | 19.96% |
| Others | 0% | 3.73% | 3.8% | 2.93% | 3.12% | 3.7% | 4.38% | 5.87% |
| No. of Shareholders | 10 | 445 | 483 | 667 | 535 | 751 | 1013 | 1035 |

## Technical Indicators

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

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 5 / 5

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 837.28 | Sell |
| EMA (10) | 830 | Sell |
| SMA (20) | 827.23 | Sell |
| EMA (20) | 819.98 | Buy |
| SMA (50) | 768.78 | Buy |
| EMA (50) | 775.2 | Buy |
| SMA (100) | 698.78 | Buy |
| EMA (100) | 720.53 | Buy |
| SMA (200) | 637.63 | Buy |
| EMA (200) | 663.9 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.2 | Neutral |
| MACD (12,26,9) | 17.96 | Sell |
| Stochastic (14,3,3) | 29.47 | Neutral |
| ADX (14) | 37.09 | Buy |
| Williams %R (14) | -76.14 | Neutral |
| ATR (14) | 23.82 | Neutral |
| ROC (12) | -1.33 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 34.47 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Newspaper advertisement published for 32nd AGM notice and e-voting information on 08 September 2026. | [Copy of Newspaper Publication 9 Sep - Newspaper advertisement published for 32nd AGM notice and e-voting information on 08 September 2026.](https://nsearchives.nseindia.com/corporate/BAHETI_09092026175000_Intimation_of_Newspaper_Advertisement_Post_Dispatch_09-09-2026.pdf) |
| 9 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026; no certificates dematerialised. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026; no certificates dematerialised.](https://nsearchives.nseindia.com/corporate/BAHETI_09042026154250_Intimation_under_Regulation_745.pdf) |
| 9 April 2026 - Baheti Recycling to meet Fintrekk Capital in a virtual one-to-one interaction on 15 April 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 April 2026 - Baheti Recycling to meet Fintrekk Capital in a virtual one-to-one interaction on 15 April 2026.](https://nsearchives.nseindia.com/corporate/BAHETI_09042026153541_Intimation_of_Investor.pdf) |
| 8 May 2026 - H2 FY26 earnings call transcript uploaded on website on 8 May 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 8 May 2026 - H2 FY26 earnings call transcript uploaded on website on 8 May 2026.](https://nsearchives.nseindia.com/corporate/BAHETI_08052026133630_Intimation_of_Transcript_March_26.pdf) |
| 7 Sep - FY2025-26 annual report released; 32nd AGM on 29 September 2026 via VC/OAVM. | [Shareholders meeting 7 Sep - FY2025-26 annual report released; 32nd AGM on 29 September 2026 via VC/OAVM.](https://nsearchives.nseindia.com/corporate/BAHETI_07092026171511_Intimation_of_AR_and_Notice_07-09-2026.pdf) |
| 7 Sep - Book closure from 23 September 2026 to 29 September 2026 for AGM on 29 September 2026. | [General Updates 7 Sep - Book closure from 23 September 2026 to 29 September 2026 for AGM on 29 September 2026.](https://nsearchives.nseindia.com/corporate/BAHETI_07092026171847_Intimation_of_Book_Closure_07-09-2026.pdf) |
| 7 Sep - 32nd AGM on 29 Sep 2026 via VC/OAVM; annual report link and KYC update reminder sent. | [General Updates 7 Sep - 32nd AGM on 29 Sep 2026 via VC/OAVM; annual report link and KYC update reminder sent.](https://nsearchives.nseindia.com/corporate/BAHETI_07092026172019_Intimation_of_letter_for_provding_weblink_07-09-2026.pdf) |
| 5 May 2026 - Submitted audio recording of H2 FY26 earnings call held May 5, 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 5 May 2026 - Submitted audio recording of H2 FY26 earnings call held May 5, 2026.](https://nsearchives.nseindia.com/corporate/BAHETI_05052026202314_Intimation_of_Audio_Link.pdf) |
| 5 March 2026 - Management to attend virtual Bharat Connect Conference (Arihant Capital) on 06 March 2026, 4-5pm. | [Analysts/Institutional Investor Meet/Con. Call Updates 5 March 2026 - Management to attend virtual Bharat Connect Conference (Arihant Capital) on 06 March 2026, 4-5pm.](https://nsearchives.nseindia.com/corporate/BAHETI_05032026113937_Intimation_of_Investor_Meet.pdf) |
| 5 June 2026 - Promoter confirms no new share encumbrance disclosures for FY ended March 31, 2026. | [Disclosure under SEBI Takeover Regulations 5 June 2026 - Promoter confirms no new share encumbrance disclosures for FY ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_22052026121122_43.PDF) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31704_BAHETI_2025_2026_A_7153867_07092026171639.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28916_BAHETI_2024_2025_A_9368991_08092025172658.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26053_BAHETI_2023_2024_06092024193954.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23799_BAHETI_2022_2023_07092023194008_09072023200020.zip) |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_2806_TNTELE_2011_2012_25102013190004.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8bdfc9d7-7a0b-42e1-9f89-a16f2d33989c.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c06c135b-b6dd-4c94-aa5c-d1c6abe5561e.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/25e4c28b-4652-408a-a464-d709db6d3e61.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c0273a35-5119-4f44-8b7d-2f42c9d8b56c.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/523419/72401523419_22_09_21.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2024 | [Concall - Sep 2024](https://nsearchives.nseindia.com/corporate/BAHETI_26092024181438_IntimationofInvestorPresentation26092024.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/BAHETI_17112025181908_Intimation_of_Transcript_17-11-25.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/BAHETI_06112024152709_IntimationofTranscrpit06112024.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/BAHETI_12052025152136_IntiamtionofTranscript.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://nsearchives.nseindia.com/corporate/BAHETI_22072025175747_Intimation.pdf) |

---

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 2026-09-13T18:58:14.353Z.