Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹112Cr
Engineering - Light - General
Rev Gr TTM
Revenue Growth TTM
60.26%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

BEWLTD
VS
| Quarter | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | | | 150.9 | 29.5 | 2.6 | 9.4 | 37.5 | -4.7 | -22.1 | 50.8 | 70.5 |
| 16 | 35 | 41 | 47 | 40 | 51 | 57 | 39 | 41 | 73 | 75 |
Operating Profit Operating ProfitCr |
| 11.3 | 13.7 | 10.7 | 11.3 | 15.6 | 12.2 | 12.5 | 28.5 | 20.7 | 11.8 | 13.4 |
Other Income Other IncomeCr | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 3 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| 1 | 4 | 3 | 5 | 5 | 5 | 6 | 13 | 9 | 9 | 9 |
| 0 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 2 | 2 | 2 |
|
Growth YoY PAT Growth YoY% | | | 1,187.5 | 65.8 | 77.2 | 1.1 | 14.5 | 155.6 | 44.0 | -34.6 | 3.5 |
| 0.9 | 5.3 | 4.4 | 6.8 | 7.7 | 6.3 | 6.4 | 17.0 | 11.8 | 7.4 | 7.2 |
| 0.0 | 0.0 | 10.6 | 14.1 | 14.1 | 14.2 | 14.3 | 32.2 | 18.4 | 4.7 | 4.8 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 16.5 | 17.0 | 0.1 | 67.3 | 6.2 | 14.3 | 11.3 | 26.8 |
| 40 | 46 | 55 | 51 | 88 | 91 | 97 | 114 | 149 |
Operating Profit Operating ProfitCr |
| 8.0 | 9.2 | 7.4 | 13.8 | 11.0 | 13.8 | 19.8 | 15.2 | 12.6 |
Other Income Other IncomeCr | 0 | 0 | 1 | 0 | 1 | 1 | 0 | 1 | 1 |
Interest Expense Interest ExpenseCr | 2 | 3 | 3 | 3 | 3 | 5 | 5 | 4 | 5 |
Depreciation DepreciationCr | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 1 | 1 | 1 | 4 | 8 | 10 | 18 | 16 | 17 |
| 0 | 0 | 0 | 2 | 2 | 2 | 5 | 4 | 4 |
|
| | 2.9 | -6.7 | 257.2 | 139.7 | 29.9 | 85.1 | -10.4 | 1.7 |
| 1.6 | 1.4 | 1.1 | 4.0 | 5.7 | 6.9 | 11.2 | 9.1 | 7.3 |
| 5.1 | 4.8 | 2.1 | 15.6 | 21.9 | 28.4 | 46.6 | 9.3 | 9.5 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Equity Capital Equity CapitalCr | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 13 |
| 3 | 4 | 4 | 8 | 17 | 24 | 64 | 121 |
Current Liabilities Current LiabilitiesCr | 19 | 29 | 40 | 55 | 68 | 90 | 81 | 68 |
Non Current Liabilities Non Current LiabilitiesCr | 12 | 17 | 15 | 8 | 6 | 12 | 14 | 13 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 23 | 39 | 49 | 59 | 80 | 115 | 133 | 169 |
Non Current Assets Non Current AssetsCr | 12 | 12 | 12 | 13 | 14 | 14 | 32 | 50 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 2 | -4 | 2 | 8 | 2 | 0 | -8 | -31 |
Investing Cash Flow Investing Cash FlowCr | 0 | -1 | 0 | 0 | -1 | -1 | -19 | -19 |
Financing Cash Flow Financing Cash FlowCr | -1 | 5 | 0 | -9 | -1 | 2 | 27 | 50 |
|
Free Cash Flow Free Cash FlowCr | 2 | -5 | 1 | 8 | 2 | -2 | -22 | -50 |
| 360.4 | -532.4 | 252.6 | 342.0 | 36.1 | -6.5 | -58.2 | -257.1 |
CFO To EBITDA CFO To EBITDA% | 70.5 | -80.5 | 37.8 | 98.2 | 18.6 | -3.3 | -33.0 | -153.2 |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 0 | 206 | 183 | 438 | 192 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 0.0 | 36.6 | 25.0 | 32.3 | 15.8 |
Price To Sales Price To Sales | 0.0 | 0.0 | 0.0 | 0.0 | 2.1 | 1.7 | 3.6 | 1.4 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 0.0 | 10.7 | 6.9 | 6.5 | 1.4 |
| 3.3 | 4.0 | 4.6 | 3.4 | 21.3 | 15.5 | 21.0 | 12.2 |
Profitability Ratios Profitability Ratios |
| 17.8 | 18.8 | 17.8 | 23.4 | 18.7 | 22.8 | 29.7 | 26.9 |
| 8.0 | 9.2 | 7.4 | 13.8 | 11.0 | 13.8 | 19.8 | 15.2 |
| 1.6 | 1.4 | 1.1 | 4.0 | 5.7 | 6.9 | 11.2 | 9.1 |
| 15.4 | 14.3 | 13.2 | 19.4 | 24.1 | 20.8 | 17.6 | 10.5 |
| 16.7 | 12.9 | 11.8 | 24.2 | 29.2 | 27.5 | 20.2 | 9.1 |
| 2.0 | 1.4 | 1.1 | 3.2 | 6.0 | 5.7 | 8.2 | 5.5 |
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.
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#### **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).
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#### **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
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#### **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
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#### **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.
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