Bonfiglioli Transmissions Ltd.
BTLMainboard
Overview
Bonfiglioli Transmissions Limited is a technology-led manufacturer of mechanical and electro-mechanical power transmission products in India, producing precision-engineered gearboxes, gear motors and integrated drive systems used in three end-market verticals: Industry & Automation, Off-Highway Mobility (construction, mining, agriculture and material handling equipment) and Wind (yaw and pitch drives for turbines). The company leverages the Bonfiglioli Group’s global R&D and IP, operates multiple Indian plants, sells via direct OEM relationships and a dealer network, and undertakes co-engineering/customization programs with customers that can run up to ~30 months.
Opening Date
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Closing Date
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Listing Date
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IPO Type
Mainboard
IPO Status
Upcoming
Issue Size
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Fresh Issue
0 Cr
Offer for Sale
0 Cr
Price Band
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Lot Size
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IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
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EPS
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ROE
18.58%
ROCE
25.18%
RONW
17.85%
Debt to Equity Ratio
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PAT Margin
11.25%
EBITDA Margin
17.36%
P/B
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Bull vs Bear
Bull case
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The company benefits from Bonfiglioli’s IP and R&D ecosystem, which can keep products relevant and hard for smaller rivals to copy.
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A broad product and end-market mix spreads risk, so one customer industry slowdown is less likely to derail long-term cash generation.
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Long co-engineering cycles can create sticky OEM relationships, since switching suppliers takes time, testing, and redesign effort.
Bear case
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Supplier concentration is high, and 41.92% of purchases come from the top 10 without definitive contracts, risking stoppages, delays, and margin pressure.
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Raw materials are a big cost base at 63.08% of revenue, so price spikes or new import duties can quickly squeeze profitability if costs can’t be passed on.
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Manufacturing disruptions at key plants could hit delivery schedules and fixed-cost absorption, which can reduce earnings and weaken customer trust.
Subscription Rate
Subscription data will be available once the IPO opens.

