---
title: "Bluspring Enterprises Ltd (BLUSPRING) — Share Price, Financials & Analysis"
symbol: "BLUSPRING"
company: "Bluspring Enterprises Ltd"
canonical: "https://tapetide.com/stocks/BLUSPRING"
isin: "INE0U4101014"
nse_symbol: "BLUSPRING"
bse_code: "544414"
sector: "Commercial Services"
industry: "Diversified Services"
market_cap_cr: 2007.29
generated_at: "2026-09-13T18:47:34.125Z"
---

# Bluspring Enterprises Ltd (BLUSPRING)

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

## Company

- **NSE Symbol:** BLUSPRING
- **BSE Code:** 544414
- **ISIN:** INE0U4101014
- **Sector:** Commercial Services
- **Industry:** Diversified Services
- **Macro Sector:** Services
- **Stock Type:** EQUITY
- **Listed Since:** 2025-06-11
- **CEO:** Mr. Kamal Pal Hoda
- **Employees:** 87683
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** bluspring.com

## About

Incorporated in 2025, Bluspring Enterprises 
Ltd is in the business as an infrastructure 
services company[1]

## Latest Price

- **Price:** ₹131.48
- **Change:** -5.97 (-4.34%)
- **Open:** ₹136.3
- **Day High:** ₹136.3
- **Day Low:** ₹130.21
- **Previous Close:** ₹137.45
- **Volume:** 388095
- **As Of:** 2026-09-11T09:59:51+00:00

## Key Fundamentals

Observed at 2026-09-11T04:41:35.828644Z.

- **Market Cap:** ₹2007.29 Cr
- **Classification:** Microcap
- **P/E (reported):** -118
- **EPS (TTM):** ₹-0.74
- **Book Value:** ₹44.72
- **Price to Book:** 3.09
- **Dividend Yield:** 0%
- **ROE:** -3.12%
- **ROCE:** 1%
- **Debt to Equity:** 0.2
- **Revenue (yearly):** ₹3421.6 Cr
- **Net Income:** ₹-23 Cr
- **EBITDA:** ₹93 Cr
- **52-Week High:** ₹139.8
- **52-Week Low:** ₹43.98
- **RSI (14):** 59.56

## Tapetide Score

- **Score:** 41 / 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: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 17.1 (of 4473 scored stocks)
- **Confidence:** 91%
- **Data coverage:** 81%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 33.47 | 9% |
| growth | 40.29 | 9% |
| momentum | 98.9 | 12% |
| ownership | 41.2 | 24% |
| quality | 34.97 | 22% |
| valuation | 40.61 | 24% |

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

## Key Insights

### Weaknesses

- Stock is trading at 2.93 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -0.77% over last 3 years.
- Company's cost of borrowing seems high

## Growth Rates

| Metric | QoQ | 1Y | 3Y |
| --- | --- | --- | --- |
| cash flow growth | — | 333.27% | 161.72% |
| ebitda margin growth | -0.76% | 9.68% | -10.23% |
| net income growth | -142.11% | -87.16% | -85.25% |
| revenue growth | 9.56% | -1.92% | 8.39% |
| roce | -21.05% | -107.17% | -108.04% |
| roe | -141.25% | -86.52% | -15.24% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 770.43 | 790.92 | 801.51 | 797.23 | 857.48 | 862.53 | 864.8 | 949.29 |
| Expenses | 747.86 | 770.18 | 796.76 | 785.56 | 840.13 | 838.55 | 839.67 | 928.74 |
| Operating Profit | 22.57 | 20.74 | 4.75 | 11.67 | 17.35 | 23.98 | 25.13 | 20.55 |
| OPM % | 2.93 | 2.62 | 0.59 | 1.46 | 2.02 | 2.78 | 2.91 | 2.16 |
| Other Income | 2.13 | -154.37 | -5.75 | -0.4 | 5.29 | -27.76 | 1.11 | 5.45 |
| Interest | 11.73 | 6.9 | 7.93 | 7.49 | 7.79 | 11.06 | 7.48 | 9.83 |
| Depreciation | 11.53 | 11.45 | 11.47 | 12.29 | 12.69 | 11.21 | 10.8 | 13.81 |
| Profit before tax | 1.44 | -151.98 | -20.4 | -8.51 | 2.16 | -26.05 | 7.96 | 2.36 |
| Tax % | -24.31 | 4.05 | 13.92 | -15.86 | -62.96 | -10.79 | 51.88 | 166.95 |
| Net Profit | 1.78 | -158.13 | -23.24 | -7.15 | 3.52 | -23.24 | 3.82 | -1.59 |
| EPS in Rs | — | — | — | -0.32 | 0.35 | -1.34 | 0.28 | -0.03 |

### Profit & Loss

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

| Item | Mar 2024 11m | Dec 2024 11m | Mar 2025 14m | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- |
| Sales | 2682 | 2682 | 3484 | 3382 | 3534 |
| Expenses | 2604 | 2604 | 3401 | 3328 | 3447 |
| Operating Profit | 78 | 78 | 83 | 54 | 87 |
| OPM % | 2.9 | 2.9 | 2.4 | 1.6 | 2.5 |
| Other Income | -158 | -158 | -163 | 3 | -16 |
| Interest | 30 | 30 | 38 | 34 | 36 |
| Depreciation | 39 | 39 | 50 | 47 | 49 |
| Profit before tax | -149 | -149 | -170 | -24 | -14 |
| Tax % | 4 | 4 | 6 | -6 | — |
| Net Profit | -156 | -156 | -179 | -23 | -17 |
| EPS in Rs | — | — | — | -1.03 | -0.74 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2024 | Dec 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Equity Capital | 0 | 149 | 149 | 149 |
| Reserves | 569 | 569 | 546 | 519 |
| Borrowings | 160 | 160 | 140 | 136 |
| Other Liabilities | 803 | 654 | 695 | 882 |
| Total Liabilities | 1532 | 1532 | 1530 | 1686 |
| Fixed Assets | 495 | 495 | 502 | 512 |
| CWIP | 7 | 7 | 7 | 8 |
| Investments | 35 | 35 | 35 | 35 |
| Other Assets | 995 | 995 | 986 | 1130 |
| Total Assets | 1532 | 1532 | 1530 | 1686 |

### Cash Flow

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

| Item | Mar 2024 | Dec 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | -84 | -84 | -22 | 52 |
| Cash from Investing Activity | -17 | -17 | 146 | 36 |
| Cash from Financing Activity | -30 | -30 | -68 | -38 |
| Net Cash Flow | -130 | -130 | 56 | 50 |
| Free Cash Flow | -104 | -104 | -49 | 24 |
| CFO/OP | -75 | -75 | 7 | 167 |

### Ratios

| Item | Mar 2024 | Dec 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Debtor Days | 109 | 109 | 81 | 95 |
| Inventory Days | 14 | 14 | — | — |
| Days Payable | 76 | 76 | — | — |
| Cash Conversion Cycle | 47 | 47 | 81 | 95 |
| Working Capital Days | 34 | 34 | 23 | 21 |
| ROCE % | — | — | 4 | 5 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 58.24% | 58.24% | 58.24% | 58.17% | 58.05% |
| FIIs | 8.83% | 5.82% | 5.49% | 5.71% | 5.7% |
| DIIs | 8.42% | 8.95% | 8.81% | 8.71% | 8.65% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 20.06% | 22.75% | 23.3% | 23.17% | 23.66% |
| Others | 4.45% | 4.23% | 4.17% | 4.24% | 3.95% |
| No. of Shareholders | 120149 | 107788 | 101112 | 87200 | 81683 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 7 / 1

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 131.38 | Buy |
| EMA (10) | 131.22 | Buy |
| SMA (20) | 127.39 | Buy |
| EMA (20) | 127.79 | Buy |
| SMA (50) | 118.43 | Buy |
| EMA (50) | 118.25 | Buy |
| SMA (100) | 100.66 | Buy |
| EMA (100) | 105.1 | Buy |
| SMA (200) | 80.76 | Buy |
| EMA (200) | 93.5 | Buy |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 54.55 | Neutral |
| MACD (12,26,9) | 4.75 | Sell |
| Stochastic (14,3,3) | 67.54 | Neutral |
| ADX (14) | 22.55 | Neutral |
| Williams %R (14) | -43.15 | Neutral |
| ATR (14) | 8.61 | High Volatility |
| ROC (12) | 2.61 | Buy |
| Stoch RSI (14) | 29.91 | Neutral |
| UO (7,14,28) | 49.76 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=985c3a15-67f1-4844-8524-29c918a54bc2.pdf) |
| 2026-09-10 | [Appointment of Company Secretary and Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4a59788b-faba-455c-bde7-f419a4d4f219.pdf) |
| 2026-09-10 | [Authorisation To Key Managerial Personnel Pursuant To Regulation 30(5) Of SEBI Listing Regulations.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4f18e18d-34cf-4a03-ba71-069d6cb468c1.pdf) |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5d9aa4b4-3be3-43d9-8c96-a1befd674d2d.pdf) |
| 2026-09-01 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=19c669a6-4fc2-4cfd-892b-6ac086afb5e3.pdf) |
| 2026-08-31 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=110c3c3e-a907-42e9-bc71-953b21607621.pdf) |
| 2026-08-12 | [Amalgamation Of Wholly Owned Subsidiaries Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ec301715-4320-45bd-9db8-19a62bf7fbf0.pdf) |
| 2026-08-08 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b40908a5-b4d8-43d1-b829-4ef4dc629d8c.pdf) |
| 2026-08-07 | [Bluspring Enterprises Limited Has Informed Exchange Regarding Completion Of Acquisition Of LSG Sky Chefs (India) Private Limited By Bluspring New Horizon Two Private Limited A Wholly Owned Subsidiary Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=92ae6911-a796-464d-9c1e-4f53f1586769.pdf) |
| 2026-08-07 | [Notice Of The 2Nd AGM And The Annual Report For The Financial Year 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=220a2b81-b3a1-4141-8e00-7ebde06f3c0c.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-07-31 | [Results For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6fe50474-9927-407d-ac96-24347ec09d74.pdf) |
| 2026-05-19 | [Financial Results For The Quarter And Financial Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d9c0a17-92f8-46f4-94cd-4e65ea845729.pdf) |
| 2025-11-06 | [Financial Results For The Quarter And Half Year Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=42978c65-55b0-461a-b348-be1b56cd2799.pdf) |
| 2025-06-23 | [Results - Financial Results For The Quarter And Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=30d7c97b-8688-43b3-8c74-ddfccec62058.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-07-31 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3dc3acf9-f6a7-49a5-b7ad-900cf65848ab.pdf) |
| 2026-05-19 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f96d22db-f3ee-479f-a0fb-070cf7baef14.pdf) |
| 2026-02-03 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=56904f82-b75a-4058-b8c7-e0af2dc90f63.pdf) |
| 2025-11-06 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=200ac399-a749-437c-ae4d-74c21a3cb2fc.pdf) |
| 2025-07-31 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=40e6db14-7d9e-4eaa-a300-c058723d3181.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - Board meeting on May 19, 2026 to approve audited FY2026 financial results; trading window closed till May 21. | [Board Meeting Intimation for Notice Of Board Meeting 9h - Board meeting on May 19, 2026 to approve audited FY2026 financial results; trading window closed till May 21.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f1815ef4-64eb-48ea-a74e-1b00bcb92a82.pdf) |
| 9 Feb - Two wholly-owned subsidiaries incorporated on Feb 9, 2026: Bluspring New Horizon One and Two; subscribed capital Rs20 lakh each. | [Incorporation Of Wholly Owned Subsidiaries 9 Feb - Two wholly-owned subsidiaries incorporated on Feb 9, 2026: Bluspring New Horizon One and Two; subscribed capital Rs20 lakh each.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7a6c3db-aa3f-4f2e-9f35-bdd603026b78.pdf) |
| 9 Feb - Q3 FY26: revenue ₹844cr, EBITDA ₹32cr; exceptional ₹29.8cr Labour Code provision; net debt ₹107cr. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 9 Feb - Q3 FY26: revenue ₹844cr, EBITDA ₹32cr; exceptional ₹29.8cr Labour Code provision; net debt ₹107cr.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/907aed31-9925-48fe-b147-149bcba643cd.pdf) |
| 7h - Members approved Bluspring’s ESOP 2026 and related trust acquisition resolutions on April 23, 2026. | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 7h - Members approved Bluspring’s ESOP 2026 and related trust acquisition resolutions on April 23, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/25684a7f-9e0d-4000-b71e-b018169caf3c.pdf) |
| 7h - Five special resolutions approving Bluspring ESOP Scheme 2026 passed on April 23, 2026. | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 7h - Five special resolutions approving Bluspring ESOP Scheme 2026 passed on April 23, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/093eeb7d-b5f8-430b-a7e5-e6ec844f1dd6.pdf) |
| 6 Mar - Ind-Ra assigns IND A/Stable to INR4,700m bank loans; IND A1 to INR1,000m CP (Mar 6, 2026). | [Announcement under Regulation 30 (LODR)-Credit Rating 6 Mar - Ind-Ra assigns IND A/Stable to INR4,700m bank loans; IND A1 to INR1,000m CP (Mar 6, 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c95df43-887e-472d-b482-3e0854ae28c2.pdf) |
| 5 Feb - Newspaper Publication of financial results for the quarter and nine months ended December 31, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Feb - Newspaper Publication of financial results for the quarter and nine months ended December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b76f9e45-7262-4e1e-a8df-5e50a0afbb46.pdf) |
| 4h - Bluspring to acquire 100% of STEAG India; adds INR600 crore revenue, ~7GW assets; closes in 60–90 days. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 4h - Bluspring to acquire 100% of STEAG India; adds INR600 crore revenue, ~7GW assets; closes in 60–90 days.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/0e729c41-1899-49e1-89ba-89aeedf3b686.pdf) |
| 4 Feb - Analyst call audio uploaded to company website on 04-Feb-2026 (link provided). | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 4 Feb - Analyst call audio uploaded to company website on 04-Feb-2026 (link provided).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a81db462-cefb-42db-8cc3-05bfbc6bce3d.pdf) |
| 4 Apr - Bluspring incorporated wholly-owned subsidiary in Abu Dhabi on April 3, 2026 for UAE business opportunities. | [Incorporation Of A Wholly Owned Subsidiary Company 4 Apr - Bluspring incorporated wholly-owned subsidiary in Abu Dhabi on April 3, 2026 for UAE business opportunities.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bd6e81f0-772b-4955-b3c5-323a7a3b3ffc.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/30c92702-7215-4163-9819-d67c6b2a4ec1.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7c0346b4-6927-4113-a4fb-ad9ee0fc4411.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/7c0346b4-6927-4113-a4fb-ad9ee0fc4411.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f96d22db-f3ee-479f-a0fb-070cf7baef14.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ee0d4021-cc6a-47bb-b96b-ca36e8fddfa4.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8c953a7e-7e42-498d-97ba-6da060a34d6c.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ee0d4021-cc6a-47bb-b96b-ca36e8fddfa4.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8c953a7e-7e42-498d-97ba-6da060a34d6c.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/acb88894-53f6-4c26-a31f-9d8749579b01.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2010 from nse](https://archives.nseindia.com/annual_reports/AR_VARUN_2009_2010_09092010120000.zip) |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1cd59d67-6fa8-4a47-b87c-2637350d44af.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/912f83e5-5446-4d7e-b8cb-34931ff3672a.pdf) |
| from bse | [Financial Year 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532917/5329170313.pdf) |
| from bse | [Financial Year 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/532917/5329170312.pdf) |
| from bse | [Financial Year 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/532917/5329170311.pdf) |
| from bse | [Financial Year 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/532917/5329170310.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2025-11-10 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=30c92702-7215-4163-9819-d67c6b2a4ec1.pdf) |
| 2025-08-07 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=acb88894-53f6-4c26-a31f-9d8749579b01.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 2026-09-13T18:47:34.125Z.