BVG India Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹0
- Market Cap
- 0
- ISIN
- INE257H01021
- Face Value
- ₹2
- P/E Ratio
- 0
- EPS
- 14.3
- P/B Ratio
- 0
- Book Value
- ₹79.52
- Debt / Equity Ratio
- 0.46
Key Financials
Profit & Loss
| Metric | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Revenue from Operations | 2,839.4 | 2,314.88 | 2,030.92 | 1,662.93 |
| Growth % | 22.66% | 13.98% | 22.13% | 0 |
| Operating Expenses | 2,492.3 | 2,018.32 | 1,741.54 | 1,436.87 |
| Growth % | 23.49% | 15.89% | 21.20% | 0 |
| Operating Profit | 347.0 | 296.55 | 289.38 | 226.06 |
| Op. Profit Margin % | 12.22% | 12.81% | 14.25% | 13.59% |
| Other Income | 5.46 | 3.81 | 5.14 | 6.59 |
| Finance Costs | 100.59 | 86.67 | 80.77 | 86.19 |
| Depreciation | 25.0 | 23.50 | 23.62 | 24.67 |
| Profit Before Tax | 226.9 | 190.19 | 190.13 | 121.80 |
| Tax | 41.3 | 30.25 | 39.92 | 9.53 |
| Tax % | 18.20% | 15.91% | 20.99% | 7.82% |
| Profit After Tax | 185.62 | 159.94 | 150.22 | 112.27 |
| Growth % | 16.06% | 6.47% | 33.80% | 0 |
| PAT % | 6.54% | 6.91% | 7.40% | 6.75% |
| Diluted EPS | 14.3 | 12.36 | 56.38 | 43.14 |
Company Financials
| Metric | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Equity Capital | 25.71 | 25.71 | 25.71 | 25.71 |
| Reserves | 1151.91 | 998.58 | 878.37 | 754.68 |
| Total Equity | 1177.62 | 1024.29 | 904.08 | 780.39 |
| Borrowings | 104.36 | 98.52 | 38.75 | 50.47 |
| Provision | 71.953 | 65.03 | 59.20 | 49.73 |
| Other Non-Current Liabilities | 4.12 | 3.49 | 5.60 | 8.63 |
| Total Non Current Liabilities | 180.4 | 167.03 | 103.56 | 108.83 |
| Borrowings | 355.68 | 381.83 | 330.40 | 483.39 |
| Other Current Liabilities | 368.62 | 347.23 | 552.91 | 538.32 |
| Total Current Liabilities | 724.3 | 729.06 | 883.31 | 1021.71 |
| Equity + Liabilities | 2,082.36 | 1920.38 | 1890.95 | 1910.93 |
| Fixed Assets (incl. WIP) | 240.91 | 174.65 | 166.94 | 167.07 |
| Other Non Current Assets | 252.69 | 227.15 | 190.05 | 197.47 |
| Total Non Current Assets | 493.6 | 401.80 | 364.55 | 364.55 |
| Trade Receivables | 938.168 | 965.35 | 910.63 | 886.81 |
| Cash & Cash Equivalents | 129.68 | 120.74 | 108.84 | 117.43 |
| Other Current Assets | 520.89 | 432.50 | 514.49 | 542.15 |
| Total Current Assets | 1,588.8 | 1518.58 | 1533.96 | 1546.38 |
| Total Assets | 2,082.36 | 1,920.38 | 1,890.95 | 1,910.93 |
Shareholding Pattern
- Hanmantrao R Gaikwad
- 52.41%
- Strategic Investments FM Mauritius Alpha Ltd
- 21.89%
- Umesh G Mane
- 7.58%
- Others
- 18.12%
Strengths & Weaknesses
Strengths
- BVG’s Diversified Business and Strong Market Presence:BVG operates across multiple sectors, including facilities management, waste management, emergency services, and solar projects, enhancing market position and EBITDA margins. It serves both government (e.g., Rashtrapati Bhavan, RBI) and private clients (e.g., Tata Motors, Bosch). The company’s revenue mix shifted, with the government's share decreasing to 55% in FY23. BVGIL operates in 20+ states, employs 67,000+ people, and has a presence in 130+ cities.
- Strong Credit Profile: BVGIL maintains a solid credit profile with a net leverage of 1.2x in FY23 (FY22: 1.1x) and an interest coverage ratio of 3.4x (FY22: 3.6x), backed by low debt and strong EBITDA margins.
Weaknesses
- Working Capital Cycle: BVGIL's cycle improved to 123 days in FY23 (FY22: 166) but remains stretched due to high receivables (199 days). Sticky debtors persist, with INR 2,452 million provisioned for disputed dues. Major debtors include Municipal Corporation Jaipur (INR 1,966 million) and BVG-UKSAS EMS (INR 816 million), with partial recovery expected within a year.
- Competitive Industry: The sector faces intense competition and high attrition. Smaller players drive pricing pressure, but BVGIL leverages its strong market position and employee retention to mitigate risks.
About BVG India Ltd
BVG India Limited, originally incorporated as Bharat Vikas Utility Services on 20 March 2002 and renamed on 7 July 2004, is a Pune-based company specializing in integrated facility management services. These services encompass mechanised housekeeping, transportation, manpower supply, security, solid waste management, emergency medical services, and emergency police services
Board of Directors
- HANMANTRAO GAIKWAD - Managing Director
- UMESH GAUTAM MANE - Wholetime Director
- PRABHAKAR DATTATRAYA KARANDIKAR - Additional Director
- RAJENDRA RAMRAO NIMBHORKAR Additional Director - Additional Director
- CHANDRAKANT NARAYAN DALVI - Director
- JAYANT GOPAL PENDSE - Director
- PANKAJ DHINGRA - Director
- SWAPNALI DATTATRAYA GAIKWAD - Director
Senior Management
- HANMANTRAO GAIKWAD - Managing Director
- MR NIRAJ KEDIA - Chief Financial Officer
- RAJANI RAMCHAND PAMNANI - Company Secretary