Bimetal Bearings revenue rises 31% but quarterly PAT slips 5%

Bimetal Bearings Limited reported standalone revenue from operations of Rs 88.20 crore for the quarter ended September 30, 2026, up 31% from Rs 67.14 crore a year earlier, while profit after tax fell 5% to Rs 2.37 crore from Rs 2.48 crore as expenses rose faster than income.

Why did Bimetal Bearings' September-quarter profit decline despite higher sales?

Bimetal Bearings' standalone profit after tax declined because total expenses increased by Rs 20.94 crore, marginally more than the Rs 20.78 crore rise in total income. Profit before tax was Rs 3.16 crore in the September 2026 quarter, compared with Rs 3.33 crore in the September 2025 quarter, while tax expense decreased to Rs 79.15 lakh from Rs 84.63 lakh.

The company recorded total income of Rs 89.57 crore in the latest quarter, including Rs 1.37 crore of other income, against Rs 68.80 crore a year earlier, including Rs 1.66 crore of other income. Revenue from operations supplied the income increase, while other income declined by Rs 28.22 lakh.

On a sequential basis, profit after tax declined from Rs 3.24 crore in the June 2026 quarter. Revenue from operations rose from Rs 79.53 crore in June to Rs 88.20 crore in September, but profit before tax declined from Rs 4.28 crore to Rs 3.16 crore as the expense base increased and engineering and project services contributed less than in June.

Which costs increased in Bimetal Bearings' September quarter?

Bimetal Bearings' material and component consumption rose to Rs 47.60 crore in the September 2026 quarter from Rs 36.74 crore a year earlier, an increase of Rs 10.86 crore. Purchases of stock-in-trade increased to Rs 6.00 crore from Rs 3.22 crore, while employee-benefit expense increased to Rs 8.23 crore from Rs 7.58 crore.

Other expenses were Rs 20.48 crore, compared with Rs 17.79 crore in the year-earlier quarter, and depreciation and amortisation rose to Rs 1.85 crore from Rs 1.66 crore. Finance costs were Rs 23.76 lakh, against a negative Rs 10,000 figure in the prior-year quarter. These line items contributed to total expenses rising 32%, compared with 31% growth in revenue from operations.

Inventory accounting also differed between the two periods. Changes in inventories of finished goods, stock-in-trade and work in progress were an expense of Rs 2.01 crore in the September 2026 quarter, whereas Bimetal Bearings reported a negative expense of Rs 1.52 crore in the September 2025 quarter. The movement added to the year-on-year change in the expense profile.

How did Bimetal Bearings' business segments perform?

Bimetal Bearings' engine bearings, bushings and thrust washers segment generated Rs 86.52 crore of September-quarter revenue, up from Rs 67.14 crore a year earlier, and accounted for nearly all of the company's Rs 88.20 crore revenue from operations. Its segment result, however, declined to Rs 1.52 crore from Rs 1.88 crore despite the higher revenue.

Engineering and project services generated Rs 1.68 crore in the September 2026 quarter, compared with Rs 5.19 crore in the June 2026 quarter. The filing does not present September 2025 revenue or a segment result for this business, so it does not support a year-on-year comparison. Its latest segment result was Rs 68.12 lakh, down from Rs 1.71 crore in June.

The segment pattern helps explain the sequential profit movement. The engine bearings, bushings and thrust washers segment result increased from Rs 95.23 lakh in June to Rs 1.52 crore in September, but engineering and project services declined by Rs 1.02 crore. After Rs 1.37 crore of other income, Rs 23.76 lakh of finance costs and Rs 17.65 lakh of unallocable expenses, standalone profit before tax was Rs 3.16 crore.

What do Bimetal Bearings' half-year results show?

Bimetal Bearings reported standalone revenue from operations of Rs 167.73 crore for the six months ended September 30, 2026, up from Rs 138.80 crore in the corresponding 2025 period. Half-year profit after tax nevertheless fell to Rs 5.61 crore from Rs 6.17 crore, while profit before tax declined to Rs 7.44 crore from Rs 8.25 crore.

For the half year, cost of materials and components consumed rose to Rs 101.46 crore from Rs 78.18 crore, purchases of stock-in-trade increased to Rs 12.21 crore from Rs 6.59 crore, and other expenses rose to Rs 38.72 crore from Rs 35.75 crore. Employee-benefit expense increased to Rs 15.19 crore from Rs 14.35 crore, taking total expenses to Rs 163.66 crore from Rs 133.77 crore.

The product segment recorded half-year revenue of Rs 160.86 crore, up from Rs 138.80 crore, but its segment result declined to Rs 2.47 crore from Rs 5.47 crore. Engineering and project services contributed Rs 6.87 crore of revenue and Rs 2.39 crore of segment result in the latest half year. The filing presents no corresponding September 2025 half-year figures for that segment.

What changed in Bimetal Bearings' balance sheet by September 2026?

Bimetal Bearings' standalone total assets increased to Rs 332.15 crore at September 30, 2026 from Rs 294.74 crore at March 31, 2026, while total liabilities increased to Rs 108.04 crore from Rs 71.60 crore. Equity was Rs 224.11 crore at September 30, compared with Rs 223.14 crore at the financial year-end.

Working-capital items accounted for much of the movement. Inventories increased to Rs 68.95 crore from Rs 57.66 crore, and trade receivables increased to Rs 74.06 crore from Rs 59.50 crore. Current borrowings rose to Rs 10.93 crore from Rs 3.06 crore, while trade payables to creditors other than micro and small enterprises increased to Rs 76.77 crore from Rs 50.40 crore.

Cash and cash equivalents were Rs 3.82 crore at September 30, 2026, compared with Rs 1.79 crore at March 31, 2026. Current investments declined to Rs 7.50 crore from Rs 10.07 crore. The standalone unaudited results were prepared under Indian Accounting Standard 34, or Ind AS 34, and Bimetal Bearings' board approved them on November 6, 2026.

Conclusion

The September quarter showed that higher turnover in the core manufacturing segment did not lift standalone earnings. Profit before tax of Rs 3.16 crore was below both Rs 3.33 crore a year earlier and Rs 4.28 crore in June 2026, reflecting the changed cost mix and the lower sequential contribution from engineering and project services.

The filing does not disclose a target or operating plan for the next period. The principal disclosed matter to watch is the working-capital movement: receivables rose by Rs 14.57 crore, inventories by Rs 11.29 crore and current borrowings by Rs 7.87 crore between March 31 and September 30, 2026.