Bambino Agro Industries Limited

Consumer Defensive — Packaged Foods · BSE

₹233.35+₹1.20 (+0.52%)

DalalBaazaar Score

52 / 100

🟡 Moderate

Verdict

NEUTRAL

Risk

High

Driven by moderate debt load, micro-cap size, which brings thin liquidity, falling profits.

In simple words: Strong business and financial position, but sales are shrinking. The direction of profits is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:46 pm

Understanding the Business

Company site ↗

The 60-second version of Bambino Agro Industries Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Bambino Agro Industries Limited manufactures and sells food products in India.

IndustryPackaged Foods

SectorConsumer Defensive

Annual revenue₹394 Cr

How does it make money?

Turns over ₹394 Cr a year. Of every ₹100 of sales, about ₹3 reaches shareholders as profit, with ₹8 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are NESTLE INDIA LIMITED, BRITANNIA INDUSTRIES LTD, TATA CONSUMER PRODUCT LTD, DABUR INDIA LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Some evidence

ROCE of 16.8% is above what capital typically costs, which suggests some pricing power, though not yet the sustained, wide gap that marks a durable advantage.

Peer median ROE51.0%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved +30% while net margin moved -17% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+30%

Margin effect-17%

DalalBaazaar Score

52/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROE of 9.1% is weak

Quality vs. Valuation

Company Quality

49/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

60/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

19.0x

3Y Median

23.3x

40 monthly readings · mean 24.6x · range 16.0x–36.2x

Sector Median

51.7x

median of 4 sector peers

🟢Current valuation is approximately 18% below its 3y median of 23.3x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 63% below the peer median of 51.7x.

vs. its own history

Fair

23.3x median over 40 months · -18%

vs. sector peers

Cheap

51.7x median of 4 peers · -63%

vs. generic bands

Fair

15x–35x

EV/EBITDA

9.0x

PEG

6.89

What's Good / What's Bad

🟢 What's Going Well3

Cash flow has turned positive
Free cash flow moved from negative to positive over 3 years.
Return on capital is rising
ROCE has improved from 13.9% to 16.8%.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 watch

🟡Receivables growing faster than salesFinancial
Receivables up 63% against revenue up 30% — sales are being booked faster than they are collected.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 63% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Sales are being booked faster than collected
Receivables are up 63% against revenue up 30%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 6%✓ 7.8%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Debt / EBITDA stays below 2x✗ 3.0x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
3Interest cover stays above 3x✗ 2.4x
How much operating profit can fall before interest stops being comfortably covered.
4Revenue growth stays above 7% a year✓ 9.2% CAGR
Latest reported year was -4.0%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
5Free cash flow remains positive✓ ₹11 Cr
Profit that never becomes cash eventually stops being profit.

Investment Checklist

7 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✓ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 6 neutral · 2 weak

Market Cap

₹187 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

19.0x

Fair

Fairly valued against the generic band

P/B Ratio

1.69x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹12.26

Profitable

Profitable on a per-share basis

ROE

9.1%

Moderate

Moderate capital efficiency

ROCE

16.8%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

0.90x

Moderate

Moderate leverage

Revenue Growth (YoY)

-4.0%

Shrinking

Sales are contracting

Profit Growth (YoY)

-5.2%

Falling

Profits are shrinking

Dividend Yield

0.69%

Modest

Small cash return — most of the return has to come from the price

Free Cash Flow

₹11 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

8.9%

Average

Average margins

Net Margin

2.5%

Weak

Very little revenue reaches the bottom line

Current Ratio

1.55

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.19

Defensive

Steadier than the market

52W Range Position

56%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

248.4 / 235.0

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

21.3

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹302 Cr	₹332 Cr	₹368 Cr	₹394 Cr	+9.2%
EBITDA	₹21 Cr	₹27 Cr	₹28 Cr	₹31 Cr	+14.0%
EBITDA Margin	6.9%	8.0%	7.6%	7.8%	—
PAT (Net Profit)	₹9 Cr	₹11 Cr	₹9 Cr	₹10 Cr	+2.8%
EPS	₹11.5	₹13.65	₹11.51	₹12.48	+2.8%
ROE	11.0%	11.7%	9.1%	9.1%	—
ROCE	13.9%	16.6%	17.0%	16.8%	—
Total Debt	₹97 Cr	₹85 Cr	₹100 Cr	₹91 Cr	-2.3%
Free Cash Flow	-₹7 Cr	₹17 Cr	-₹11 Cr	₹11 Cr	—

🟢 Revenue has grown at 9.2% a year over 3 years.

🟢 EBITDA has grown at 14.0% a year over 3 years.

🟡 EBITDA Margin has held roughly flat at 7.8% over 3 years.

🟢 PAT (Net Profit) has grown at 2.8% a year over 3 years.

🟢 EPS has grown at 2.8% a year over 3 years.

🔴 ROE has fallen from 11.0% to 9.1% over 3 years (-1.9 pts).

🟢 ROCE has risen from 13.9% to 16.8% over 3 years (+2.9 pts).

🟢 Total Debt has shrunk at 2.3% a year over 3 years.

🟢 Free Cash Flow has turned positive, from -₹7 Cr to ₹11 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹235 Cr

Total Liabilities

₹125 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

₹13 Cr

Capex

-₹3 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

82.9%

Corporate Actions

Dividend Rate

₹1.6

Ex-Dividend Date

23 Sept 2025

Peer Comparison

Company	P/E	ROE
NESTLE INDIA LIMITED	59.8x	79.9%
BRITANNIA INDUSTRIES LTD	44.1x	51.0%
TATA CONSUMER PRODUCT LTD	59.3x	7.5%
DABUR INDIA LTD	34.7x	17.2%

Recent News

1 mixed5 general

Bambino Agro Industries Share Price rises 9.80% to Rs 270

Univest, 22 SeptPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Bambino Agro Industries Ltd. Share Price Live Today

CNBC TV18, 03 Jan

Bambino Agro Industries Limited Declares No Encumbrances on Promoter Shareholding for FY26

scanx.trade, 06 Apr

MLKFOOD Stock Price and Chart — NSE:MLKFOOD

TradingView, 18 Aug

Bambino Agro Industries gets ROC extension for FY26 AGM to Dec 31

scanx.trade, 24 Aug

BAMBINO AGRO INDUSTRIES LTD. Share Price - Live BAMBINO Stock Price & Chart

Upstox, 19 Aug

Watch Items

Revenue growth is negative (-4.0%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

StrongFinancial Health

MiddlingBusiness Quality · Valuation · Risk

WeakGrowth · Profitability

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you.

2 of 5 tripwires tripped — Debt / EBITDA stays below 2x; Interest cover stays above 3x · see Key things to watch ↑