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BEW Engineering Ltd

BEWLTD
NSE
85.75
1.24%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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BEW Engineering Ltd

BEWLTD
NSE
85.75
1.24%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
112Cr
Close
Close Price
85.75
Industry
Industry
Engineering - Light - General
PE
Price To Earnings
9.05
PS
Price To Sales
0.66
Revenue
Revenue
170Cr
Rev Gr TTM
Revenue Growth TTM
60.26%
PAT Gr TTM
PAT Growth TTM
-19.74%
Peer Comparison
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Quarterly Results

Standalone
Numbers
Percentage
QuarterSep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Revenue
RevenueCr
1941465348586655518387
Growth YoY
Revenue Growth YoY%
150.929.52.69.437.5-4.7-22.150.870.5
Expenses
ExpensesCr
1635414740515739417375
Operating Profit
Operating ProfitCr
265677816111012
OPM
OPM%
11.313.710.711.315.612.212.528.520.711.813.4
Other Income
Other IncomeCr
00010100000
Interest Expense
Interest ExpenseCr
22222223323
Depreciation
DepreciationCr
00000000111
PBT
PBTCr
143555613999
Tax
TaxCr
01111123222
PAT
PATCr
02244449666
Growth YoY
PAT Growth YoY%
1,187.565.877.21.114.5155.644.0-34.63.5
NPM
NPM%
0.95.34.46.87.76.36.417.011.87.47.2
EPS
EPS
0.00.010.614.114.114.214.332.218.44.74.8

Profit & Loss

Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
4451595999106121134170
Growth
Revenue Growth%
16.517.00.167.36.214.311.326.8
Expenses
ExpensesCr
40465551889197114149
Operating Profit
Operating ProfitCr
45481115242022
OPM
OPM%
8.09.27.413.811.013.819.815.212.6
Other Income
Other IncomeCr
001011011
Interest Expense
Interest ExpenseCr
233335545
Depreciation
DepreciationCr
111111111
PBT
PBTCr
1114810181617
Tax
TaxCr
000222544
PAT
PATCr
111267141212
Growth
PAT Growth%
2.9-6.7257.2139.729.985.1-10.41.7
NPM
NPM%
1.61.41.14.05.76.911.29.17.3
EPS
EPS
5.14.82.115.621.928.446.69.39.5

Balance Sheet

Standalone
Numbers
Percentage
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital
Equity CapitalCr
111233313
Reserves
ReservesCr
3448172464121
Current Liabilities
Current LiabilitiesCr
1929405568908168
Non Current Liabilities
Non Current LiabilitiesCr
12171586121413
Total Liabilities
Total LiabilitiesCr
3551607394129166220
Current Assets
Current AssetsCr
2339495980115133169
Non Current Assets
Non Current AssetsCr
1212121314143250
Total Assets
Total AssetsCr
3551607394129166220

Cash Flow

Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
2-42820-8-31
Investing Cash Flow
Investing Cash FlowCr
0-100-1-1-19-19
Financing Cash Flow
Financing Cash FlowCr
-150-9-122750
Net Cash Flow
Net Cash FlowCr
111-10011
Free Cash Flow
Free Cash FlowCr
2-5182-2-22-50
CFO To PAT
CFO To PAT%
360.4-532.4252.6342.036.1-6.5-58.2-257.1
CFO To EBITDA
CFO To EBITDA%
70.5-80.537.898.218.6-3.3-33.0-153.2

Ratios

Standalone
Financial YearMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
0000206183438192
Price To Earnings
Price To Earnings
0.00.00.00.036.625.032.315.8
Price To Sales
Price To Sales
0.00.00.00.02.11.73.61.4
Price To Book
Price To Book
0.00.00.00.010.76.96.51.4
EV To EBITDA
EV To EBITDA
3.34.04.63.421.315.521.012.2
Profitability Ratios
Profitability Ratios
GPM
GPM%
17.818.817.823.418.722.829.726.9
OPM
OPM%
8.09.27.413.811.013.819.815.2
NPM
NPM%
1.61.41.14.05.76.911.29.1
ROCE
ROCE%
15.414.313.219.424.120.817.610.5
ROE
ROE%
16.712.911.824.229.227.520.29.1
ROA
ROA%
2.01.41.13.26.05.78.25.5
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
#### **Overview** BEW Engineering Limited, incorporated in 2011, is a leading Indian designer and manufacturer of specialized process equipment for the **pharmaceutical, chemical, agrochemical, fine & specialty chemicals, dyes, and food processing industries**. Headquartered in Dombivali, Maharashtra, the company has established itself as a trusted supplier of high-precision, GMP-compliant, and ASME-certified equipment, with a growing global footprint and strong client relationships. The company began commercial operations in 2013 and traces its industrial legacy back to 1974 via its predecessor, Bi-friends Engineering Works. Listed on the **NSE SME platform (now NSE Emerge)** since September 2021, BEW has leveraged its expertise in stainless steel and exotic alloys to capture significant market share in niche segments of the process equipment industry. --- #### **Core Business & Product Portfolio** BEW Engineering specializes in **filtration, mixing, drying, and blending systems**, offering over **nine product categories**, including: - **Dryers**: - Rotocone Vacuum Dryer (RCVD) - Vacuum Tray Dryer (VTD) - Spherical Dryer - Rotary Vacuum Paddle Dryer (RVPD) - Agitated Pan Dryer - Cantilever Rotocone Vacuum Dryer - **Filters**: - Agitated Nutsche Filter Dryer (ANFD) - Agitated Pressure Nutsche Filter - **Mixers**: - Conical Mixer Dryer (with glove box for containment) - Retractable Plough Shear Mixer Dryer - **Other Equipment**: Reactors, Blenders, Milling Equipment The company differentiates itself through **customization**, **technical innovation**, and **integrated turnkey solutions**, moving from standalone equipment supply to full-project execution (e.g., bundling reactors, filters, dryers, and automation). --- #### **Key Developments (2024–2025)** ##### **1. Manufacturing Expansion** - A **new manufacturing facility** (2,768 sqm), acquired in 2023 and built on newly acquired land, is **fully operational by mid-2025**. - The expansion nearly **doubles production capacity**, reducing lead times from 9–10 months to **5–6 months**. - Total manufacturing footprint now spans **7,328 sqm**, with the original 4,560 sqm facility and the new unit both ASME U & R stamp certified. ##### **2. Major Product Launches & Deliveries (2025)** - **3 KL Fully Integrated Rotocone Vacuum Dryer (RCVD)** delivered for pharmaceutical and API manufacturing, featuring Alfa Laval plate heat exchanger, Atlas Copco vacuum pump, and Siemens PLC with **21 CFR Part 11 compliance**. - **Spherical Dryer** launched with a unique design enabling **fast and complete discharge**, a breakthrough for high- and low-volume pharmaceutical applications. - **96-Tray Halar-Coated Vacuum Tray Dryer** introduced for corrosive chemicals, ensuring contamination-free, chemically resistant, and durable operation. - **Sterile Cantilever RCVD (500L working / 1,000L gross)** delivered for cleanroom use, with SS 316 contact parts and contamination-isolating wall partition. - **Lab-scale equipment** consistently delivered (5L ANFD, RVPD, APD) supporting R&D functions across pharma and chemical sectors. ##### **3. Strategic Market Expansion** - **International Orders**: - Export order from **Italy** (a strategic entry into Europe) - Orders from **Aditya Birla (Thailand)** and **Ajinomoto (Japan)** worth ₹5 crore each - Equipment exported to the **USA, Russia, Bangladesh, Indonesia, Israel, and Canada** - **Global Clients**: SABIC, Cipla, Lupin, Dr. Reddy’s, Sun Pharma, Mylan, Biocon, Piramal, UPL, Jubilant Ingrevia, Gharda, Teva. - **Participation in Global Exhibitions**: Events in **Bangladesh, Philippines, Jordan, Italy**, with planned expansion to **Russia and Africa**. ##### **4. Innovation & Certifications** - **ASME U & R Stamp Certified since 2016**; over 10 years of compliance with international standards. - Equipment also certified with **CE, GOST, USTAMP, NB, CRC**, enabling access to US, EU, CIS, and regulated markets. - Proprietary innovations include: - **Glove Box-integrated Conical Mixer Dryer** for potent compound handling - **Continuous Fluid Bed Dryer** and **Continuous Dryer Systems** - **Twist Lock Teeth Bayonet Ring** for easy detachment in large ANFs - **World’s largest Agitated Nutsche Filter (32 KL gross volume)**, showcasing engineering prowess --- #### **Market Position & Competitive Edge** - **Estimated 40% market share in core segments** (e.g., filter dryers), with **40% of Indian filter dryer market served** - **Over 20% broader product portfolio** than key competitors (10–12 product lines vs. 3–4 for HLE, GMM Pfaudler, Standard Group) - **Only Indian manufacturer** of several niche systems: - Spherical Dryer - Plough Shear Mixer Dryer - Continuous Dryers - Cantilever RCVD **Primary Competitors**: - HLE Glasscoat, GMM Pfaudler, Standard Group (broader but less specialized) - Not competing directly with Kilburn, which focuses on continuous drying systems **Competitive Advantages**: - Depth of engineering and customization - In-house design and manufacturing - Strong ASME and international certifications - Debt-free financial position - Cost-effective solutions without compromising quality --- #### **Ownership & Governance** - The **Lade family acquired 100% ownership in 2018**, after co-founding the company in 2011 with the Khokrale family. - Management emphasizes **professionalization**, supported by internal expertise and external consultants in technical and financial domains. ---