B.C. Power Controls Limited

Industrials — Electrical Equipment & Parts · BSE

₹1.67−₹0.02 (−1.18%)

DalalBaazaar Score

49 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by high debt relative to equity, micro-cap size, which brings thin liquidity, falling profits.

In simple words: The business is earning a fairly low return on the money invested in it, though profits are falling even as sales grow. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:54 pm

Understanding the Business

Company site ↗

The 60-second version of B.C. Power Controls Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

B.C. Power Controls Limited engages in trading of ferrous and non-ferrous metals in India. The company trades in aluminium, lead, zinc, copper ingots, copper rod, tin ingots, copper scrap, nickel, etc. It is also involved in construction business.

IndustryElectrical Equipment & Parts

SectorIndustrials

Employees11

Annual revenue₹97 Cr

How does it make money?

Turns over ₹97 Cr a year. Of every ₹100 of sales, about ₹1 reaches shareholders as profit, with ₹1 left at the operating level before interest, tax and depreciation. Each of its 11 employees supports ₹8.86 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹8.86 Cr

Who are its competitors?

The closest listed comparisons in its industry are SIEMENS LTD, ABB INDIA LIMITED, HAVELLS INDIA LIMITED. 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?Little sign of one

Returns on capital of 2.6% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE17.1%

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 +4% while net margin moved +1% 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+4%

Margin effect+1%

DalalBaazaar Score

49/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROE of 1.7% is weak

Quality vs. Valuation

Company Quality

44/ 100

Weak

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

Valuation

66/ 100

Fair

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

Weak on business quality and not cheap enough to compensate.

Historical Valuation

Current P/E

16.7x

3Y Median

20.2x

40 monthly readings · mean 29.9x · range 13.3x–55.9x

Sector Median

88.8x

median of 3 sector peers

🟢Current valuation is approximately 17% below its 3y median of 20.2x. 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 81% below the peer median of 88.8x.

vs. its own history

Fair

20.2x median over 40 months · -17%

vs. sector peers

Cheap

88.8x median of 3 peers · -81%

vs. generic bands

Fair

15x–35x

EV/EBITDA

6.3x

PEG

9.84

What's Good / What's Bad

🟢 What's Going Well1

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 high

🔴High leverageFinancial
Debt/Equity of 1.60x — earnings must service borrowings before shareholders see anything.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 81% 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?

Leverage amplifies any setback
Debt/Equity of 1.60x. Interest is payable whether or not the business has a good year.
Growth barely outpaces inflation
Revenue compounding at 1.3% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
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 -1%✓ 1.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Revenue growth stays above 4% a year✗ 1.3% CAGR
Latest reported year was 192.3%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
3Free cash flow remains positive✓ ₹18 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 0.6x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 8%✗ 2.6%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

5 / 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

4 good · 3 neutral · 4 weak

Market Cap

₹12 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

16.7x

Fair

Fairly valued against the generic band

P/B Ratio

0.27x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.1

Profitable

Profitable on a per-share basis

ROE

1.7%

Weak

Weak capital efficiency

ROCE

2.6%

Weak

Low return on total capital employed

Debt/Equity

1.60x

High

High leverage

Revenue Growth (YoY)

192.3%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-50.0%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹18 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

-0.5%

Weak

Thin margins leave little room for error

Net Margin

0.5%

Weak

Very little revenue reaches the bottom line

Current Ratio

19.20

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.69

Defensive

Steadier than the market

52W Range Position

13%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

1.7 / 1.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

39.0

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹94 Cr	₹95 Cr	₹96 Cr	₹97 Cr	+1.3%
EBITDA	₹1 Cr	₹2 Cr	₹2 Cr	₹1 Cr	+7.5%
EBITDA Margin	1.0%	2.1%	1.7%	1.2%	—
PAT (Net Profit)	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	+1.7%
EPS	₹0.11	₹0.1	₹0.11	₹0.11	+0.0%
ROE	1.7%	1.8%	1.9%	1.7%	—
ROCE	2.7%	4.9%	3.9%	2.6%	—
Total Debt	—	₹1 Cr	₹4 Cr	₹1 Cr	—
Free Cash Flow	₹34 Cr	-₹77 Cr	-₹8 Cr	₹18 Cr	-18.6%

🟡 Revenue has been broadly flat over 3 years (1.3% a year).

🟢 EBITDA has grown at 7.5% a year over 3 years.

🟡 EBITDA Margin has held roughly flat at 1.2% over 3 years.

🟡 PAT (Net Profit) has been broadly flat over 3 years (1.7% a year).

🟡 EPS has been broadly flat over 3 years (0.0% a year).

🟡 ROE has held roughly flat at 1.7% over 3 years.

🟡 ROCE has held roughly flat at 2.6% over 3 years.

🔴 Free Cash Flow has shrunk at 18.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹44 Cr

Total Liabilities

₹2 Cr

Cash & Equivalents

₹5 Cr

Operating Cash Flow

₹18 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

9.5%

Peer Comparison

Company	P/E	ROE
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%
HAVELLS INDIA LIMITED	43.5x	17.1%

Recent News

2 mixed1 negative3 general

B.C. Power Controls AGM voting results declared; all resolutions pass

scanx.trade, 03 OctResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

B.C. Power Controls standalone net profit declines 27.27% in the June 2026 quarter

Business Standard, 14 AugResults

🔴Potentially negativeReported deterioration, which feeds the growth and margin inputs on this page directly.

B.C. Power Controls Ltd

Equitypandit, 23 Dec

Bc Power Controls Ltd Q1 FY27 Results Preview

Univest, 01 JulResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

BC Power Controls shares link to access FY26 annual report

scanx.trade, 30 Sept

87 Best Penny Stocks Under 5 Rs In India For October 2026

Samco, 14 Oct

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongFinancial Health · Valuation

MiddlingRisk

WeakBusiness Quality · Growth · Profitability

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 1 high-severity red flag sits above this conclusion and should be read first.

2 of 5 tripwires tripped — Revenue growth stays above 4% a year; ROCE stays above 8% · see Key things to watch ↑