Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹395Cr
Engineering - Light - General
Rev Gr TTM
Revenue Growth TTM
5.97%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

BATLIBOI
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 19.2 | 23.4 | 5.4 | 12.1 | 73.4 | 48.7 | 49.1 | 22.4 | 3.1 | -26.1 | 16.1 | 30.1 |
| 64 | 60 | 66 | 72 | 110 | 89 | 96 | 93 | 112 | 71 | 112 | 117 |
Operating Profit Operating ProfitCr |
| 3.3 | 5.5 | 6.1 | 8.0 | 4.8 | 5.4 | 7.6 | 2.2 | 6.2 | -2.4 | 7.5 | 5.7 |
Other Income Other IncomeCr | 2 | 1 | 1 | 1 | 3 | 2 | 2 | 1 | 1 | 2 | 1 | -6 |
Interest Expense Interest ExpenseCr | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| 2 | 2 | 3 | 5 | 5 | 4 | 7 | 1 | 6 | -3 | 8 | -3 |
| 0 | 0 | 1 | 1 | 3 | 1 | 1 | 1 | 1 | 0 | 2 | -1 |
|
Growth YoY PAT Growth YoY% | 258.1 | 281.3 | 17.5 | -51.6 | -8.7 | 50.5 | 132.6 | -113.9 | 204.5 | -183.6 | 8.3 | -258.8 |
| 2.9 | 3.1 | 3.5 | 4.7 | 1.6 | 3.1 | 5.4 | -0.5 | 4.6 | -3.5 | 5.0 | -1.5 |
| 0.7 | 0.7 | 0.8 | 1.3 | 0.4 | 0.8 | 1.2 | -0.1 | 1.2 | -0.5 | 1.3 | -0.4 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | -18.8 | -5.7 | 3.4 | 17.9 | -21.6 | -22.2 | 29.3 | 29.1 | 63.6 | -0.6 | 5.1 |
| 268 | 219 | 210 | 217 | 244 | 202 | 148 | 189 | 238 | 389 | 391 | 412 |
Operating Profit Operating ProfitCr |
| -0.5 | -1.3 | -2.9 | -2.5 | 1.9 | -3.5 | 2.4 | 3.8 | 6.3 | 6.4 | 5.4 | 5.0 |
Other Income Other IncomeCr | 2 | 18 | 2 | 8 | 6 | 4 | 18 | 2 | 5 | 6 | 7 | -1 |
Interest Expense Interest ExpenseCr | 8 | 9 | 8 | 7 | 8 | 9 | 9 | 8 | 5 | 8 | 6 | 6 |
Depreciation DepreciationCr | 7 | 6 | 5 | 5 | 4 | 6 | 4 | 4 | 4 | 4 | 5 | 6 |
| -14 | 0 | -17 | -9 | -1 | -18 | 8 | -2 | 11 | 21 | 18 | 9 |
| -2 | 0 | -4 | 1 | -14 | -2 | 0 | 2 | 1 | 7 | 5 | 1 |
|
| | 98.8 | -9,366.5 | 23.4 | 224.3 | -223.2 | 151.2 | -157.9 | 324.4 | 25.5 | 1.8 | -46.0 |
| -4.5 | -0.1 | -6.6 | -4.9 | 5.2 | -8.1 | 5.3 | -2.4 | 4.2 | 3.2 | 3.3 | 1.7 |
| -4.2 | -0.1 | -3.1 | -5.1 | 4.5 | -5.5 | 2.8 | -1.6 | 3.7 | 3.2 | 2.9 | 1.5 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 21 | 24 | 24 |
| 23 | 24 | 124 | 110 | 123 | 106 | 115 | 111 | 122 | 134 | 201 | 202 |
Current Liabilities Current LiabilitiesCr | 129 | 114 | 88 | 116 | 110 | 116 | 74 | 95 | 68 | 142 | 125 | 127 |
Non Current Liabilities Non Current LiabilitiesCr | 37 | 35 | 71 | 73 | 59 | 65 | 67 | 66 | 84 | 96 | 91 | 88 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 109 | 96 | 69 | 90 | 83 | 79 | 54 | 69 | 75 | 164 | 186 | 185 |
Non Current Assets Non Current AssetsCr | 100 | 98 | 229 | 224 | 223 | 223 | 216 | 218 | 214 | 229 | 254 | 239 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | -19 | -2 | -9 | 1 | 2 | 11 | -3 | 20 | 1 | 8 | 2 |
Investing Cash Flow Investing Cash FlowCr | 2 | 14 | 10 | -1 | 1 | -2 | 7 | -3 | -3 | -3 | -45 |
Financing Cash Flow Financing Cash FlowCr | 10 | -12 | -1 | -3 | 0 | -7 | -7 | -11 | -5 | 6 | 37 |
|
Free Cash Flow Free Cash FlowCr | -17 | 11 | 1 | 1 | 0 | 9 | 4 | 17 | -1 | 3 | -13 |
| 157.3 | 1,713.8 | 68.9 | -11.3 | 13.6 | -67.6 | -32.9 | -417.0 | 8.9 | 56.6 | 16.8 |
CFO To EBITDA CFO To EBITDA% | 1,468.0 | 88.1 | 157.2 | -21.8 | 36.9 | -156.7 | -72.9 | 259.6 | 5.9 | 28.2 | 10.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 54 | 61 | 68 | 67 | 45 | 18 | 44 | 140 | 170 | 410 | 329 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 0.0 | 3.5 | 0.0 | 5.5 | 0.0 | 16.1 | 44.4 | 33.4 |
Price To Sales Price To Sales | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | 0.1 | 0.3 | 0.7 | 0.7 | 1.0 | 0.8 |
Price To Book Price To Book | 1.5 | 1.8 | 0.5 | 0.5 | 0.3 | 0.1 | 0.3 | 1.1 | 1.3 | 3.8 | 2.0 |
| -77.2 | -37.9 | -20.9 | -23.6 | 22.8 | -11.5 | 31.4 | 26.8 | 14.9 | 18.0 | 17.4 |
Profitability Ratios Profitability Ratios |
| 42.6 | 48.7 | 44.9 | 45.8 | 45.8 | 45.2 | 42.4 | 38.0 | 39.8 | 34.7 | 36.5 |
| -0.5 | -1.3 | -2.9 | -2.5 | 1.9 | -3.5 | 2.4 | 3.8 | 6.3 | 6.4 | 5.4 |
| -4.5 | -0.1 | -6.6 | -4.9 | 5.2 | -8.1 | 5.3 | -2.4 | 4.2 | 3.2 | 3.3 |
| -6.9 | 9.8 | -4.6 | -1.0 | 3.4 | -4.5 | 8.3 | 3.0 | 7.7 | 11.4 | 7.7 |
| -32.4 | -0.4 | -9.8 | -8.4 | 9.4 | -13.2 | 6.3 | -3.8 | 7.8 | 8.5 | 6.0 |
| -5.7 | -0.1 | -4.5 | -3.3 | 4.2 | -5.3 | 3.0 | -1.6 | 3.7 | 3.4 | 3.1 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Batliboi Limited is a diversified engineering conglomerate with a strong presence in machine tools, textile engineering, environmental engineering, and emerging clean energy sectors. Headquartered in India with global manufacturing and operational footprints, the company is strategically positioned to capitalize on domestic growth drivers like *Make-in-India* and *Production-Linked Incentive (PLI)* schemes, while expanding its international footprint across 20+ countries.
The company operates through key divisions—**Machine Tools**, **Textile Engineering (Air Engineering & Textile Machinery)**, and **Environmental Engineering**—supported by its Canadian subsidiary **Quickmill Inc.** and new ventures in water treatment and green hydrogen.
---
### **Manufacturing & Operations (Nov 2025)**
- **Surat Facility**:
- Spans **180,000 sq. meters** of land, with a **30,000 sq. meter** integrated design and production unit.
- Houses manufacturing for CNC machines, air engineering systems, and industrial fans.
- The **Udhna Fan Manufacturing Unit** was merged into the Environmental Engineering Group (EEG) effective July 1, 2025, realizing operational synergies.
- **Peterborough, Canada**:
- Home to **Quickmill Inc.**, Batliboi’s 100% owned subsidiary, specializing in large-scale **Gantry Drilling & Milling Machines**.
- **Capacity Expansion (Jun 2025)**:
- Plans to **double machine tool production from 25 to 50 units/month** over two years, potentially adding **₹80 crore** in annual revenue.
- Upgrading foundry capacity from **90 to 200 tonnes/month** to meet internal demand.
- Installation of an **energy-efficient electric furnace** expected to cut power consumption by **~30%**.
---
### **Core Business Divisions**
#### **1. Machine Tools Division (BMTG)**
- **Products**:
- Manufactures **CNC Vertical Machining Centers, Turning Centers, Vertical Turning Lathes, Double Column Machining Centers**, and **conventional drilling machines (radial, portable)**.
- Sources **FANUC and Mitsubishi controllers**, customizing solutions per client needs.
- **Agency Division**:
- Represents global brands from **Germany, Italy, South Korea, China, Taiwan, Czech Republic, Belgium**, and India, offering end-to-end metal cutting and forming solutions.
- **Key Customers**:
- Serves **Auto Components, Tractors, Dies & Molds, Light Engineering, and Infrastructure** sectors.
- **Recent Developments (Aug 2025)**:
- Completed a **₹25 crore capex** program to upgrade foundry and machine shop facilities.
- All new equipment commissioned; efficiency gains expected over the next 3 quarters.
- **Market Outlook**:
- Demand for heavy machines declined earlier due to pricing pressure, but **recent months show recovery**, especially in specialized and high-end equipment.
---
#### **2. Textile Engineering Division**
Split into two strategic segments:
##### **A. Air Engineering Group**
- **Products**: High-efficiency fans, **rotary drum filters (RDF)**, condensing systems, fiber recovery systems, and waste compactors.
- **Manufactured at Surat**; new product innovations include lighter RDF meshes (+3–4% filtration efficiency), upgraded VGR 60 blades, and new Venturi components.
- **Expansion Beyond Textiles**: Actively diversifying into **food, pharmaceuticals, synthetic materials, and general factory ventilation** (Jul–Nov 2025).
- **Commercial Targets**: Expected results in **FY25–26** from non-textile air control systems.
##### **B. Textile Machinery Group**
- **Represents Global Brands**: Mayer & Cie, Saurer, Pentek, Fardis, Intex – across **spinning, knitting, processing, and technical textiles**.
- **Recent Milestone (Aug 2025)**: Secured **largest-ever order** for **60 knitting machines worth ₹45 crore**.
- **Growth Drivers**:
- Rising demand for **open-end spinning, knits, activewear, automation, and sustainable tech**.
- Fast-fashion trends driving innovation in fabric production.
- **Export Expansion**: Targeting **Bangladesh, Vietnam, Uzbekistan**, and project exports to **Ethiopia and Kenya via partnership with LMW** (Feb 2025).
- **Capacity & Quality**: Adding new production machinery and improving product quality and range (Jun 2025).
---
#### **3. Environmental Engineering Group (EEG)**
Formerly **Batliboi Environmental Engineering Ltd. (BEEL)**, now fully merged into Batliboi Ltd. (effective Mar 2025).
- **Core Offerings**:
- **Air pollution control systems**, **industrial fans**, **gasification**, and **HVAC solutions**.
- 100% **Make-in-India** with manufacturing at Surat.
- **Key Sectors**: Steel, Power, Oil & Gas, Cement, Sugar, Waste-to-Energy.
- **Recent Orders (Aug 2025)**:
- Won **export + domestic orders worth ₹13 crore**, including:
- Gas cleaning system (waste-to-energy)
- Acid neutralization scrubber (battery reclamation)
- TAR/Wet Electrostatic Precipitator (steel sector)
- **First export order** in waste-to-energy gas cleaning systems.
- **Production Scaling**: Started manufacturing **critical industrial fans** in-house; plans to scale up.
- **Export Strategy**: Expanding to **Gulf, Vietnam, Bangladesh, Uzbekistan, Egypt** (Nov 2025).
---
#### **4. Subsidiaries & International Presence**
##### **Quickmill Inc. (Canada)**
- **Headquarters**: Peterborough, Ontario.
- **Specialization**: Large **Gantry Drilling & Milling Machines**.
- **Serves Global Markets**: Energy, Structural Steel, Aviation, Heavy Equipment, Job Shops.
- **Performance**:
- Completed **400+ projects**; serves **105+ global clients**.
- FY24–25: Significant profitability improvement due to **new markets and product development**.
- Q1 FY26: Faced order delays due to **US tariff uncertainty and payment issues**, but **recovering in Q2** with high-value machine billings scheduled.
- **Growth Outlook**: Strong demand in **North America**, expansion into **Middle East, Egypt, and Mexico**.
##### **Bioconserve Renewables Envirotech Pvt Ltd**
- **Established**: May 2025.
- **Focus**: **Effluent Treatment Plants (ETP)** and **Zero Liquid Discharge (ZLD)** solutions, primarily for textile industry.
- **Market Opportunity**: Indian water & wastewater sector valued at **$11 billion (2025)**, expected to reach **$18 billion by 2026**.
- **Performance**: Achieved **first-quarter profitability**; expects **reasonable full-year profits (Aug 2025)**.
- **Revenue Timeline**: Contributions expected from **FY25–26 onward**.
##### **Other Subsidiaries**
- **AESA Air Engineering SA (France)** – active.
- **Queen Projects (Mauritius) Ltd.** – in liquidation (as of Jul 2024).
---
### **Mergers & Strategic Restructuring**
- **Merger with BEEL (Mar 2025)**:
- Aims to strengthen position in **CNC machine tools** and **air engineering markets**.
- Enables cross-selling, operational synergies, and enhanced R&D.
- **Strategic Intent**: Capitalize on growth in textile/non-textile air systems, expand scale, and improve profitability.
---
### **Domestic & International Reach**
- **Sales Network**:
- **15 branch offices** across India.
- Staffed by **60+ trained engineers and technicians** supporting service and sales.
- **Exports**:
- Products exported to **20 countries**.
- Key markets: **Gulf, Bangladesh, Vietnam, Uzbekistan, Egypt, Mexico, Middle East, Africa**.
- Strategic push under *Make-in-India* and rising global supply chain reconfiguration.
---
### **Technology & Innovation**
- **Product Upgrades**:
- New **RDF models** (lightweight, improved filtration).
- **Pulley drive system** replacing chain drives in screen filters (successfully running at 3 sites).
- **Automation & Sustainability**:
- Focus on **high-productivity, automated, and eco-friendly technologies** across segments.
- **R&D**: Continuous improvements in **product design, casting processes, and filtration efficiency** (Jul 2024–2025).