Bansal Roofing - Bansal Roofing

📊 BSE: 538546 🏢 Iron & Steel Products 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

Roll Forming Products (Roofing Sheets and Purlins) contributed 56.88% of production in FY 23-24. Structures (Columns and Beams) contributed 28.42%. Coil trading accounted for 8%, and FRP/Polycarbonate sheets/Hardware for 7%.

Geographic Revenue Split

Not disclosed in percentage; however, the company is based in Gujarat and has supplied materials to Century Plyboards in Punjab and the Adani Group in Chhattisgarh.

Profitability Margins

PAT margin for FY 23-24 was 3.36%. Operating Profit Margin before Tax was 6.29%. The current Operating Profit Margin is 5.08%, with management targeting a 1% increase in the current fiscal year.

EBITDA Margin

Operating Profit Margin before Tax was 6.29% in FY 23-24. Core operating profit in value was INR 6.66 Cr.

Capital Expenditure

The company completed a massive expansion from a 36,000 sq. ft. facility (Unit I) to a 300,000 sq. ft. facility (Unit II). Future capex will be funded through internal accruals rather than shareholder funds.

Credit Rating & Borrowing

The company is NSIC-CRISIL Rated. Total debt repaid in FY 23-24 was INR 2.13 Cr.

⚙️ Operational Drivers

Raw Materials

Steel plates and steel coils are the primary raw materials, with pricing directly impacting revenue and margins.

Key Suppliers

The company sources plates and coils from various Steel Companies, though specific names are not listed.

Capacity Expansion

Current facility (Unit II) is 300,000 sq. ft. The company aims to reach a production target of 2,000 tonnes within the next 3-4 years.

Raw Material Costs

Steel prices dropped 28.75% from INR 80/kg in March 2023 to INR 57/kg in March 2024. This price volatility caused a 14.83% decline in PAT despite a 13.23% increase in sales volume.

Manufacturing Efficiency

Production tonnage increased from 787 tons in Q1 FY24 to 1,100 tons in Q4 FY24, demonstrating improved capacity utilization at the new facility.

📈 Strategic Growth

Expected Growth Rate

13.23%

Growth Strategy

Growth will be achieved by leveraging the 8.33x expansion in floor space (from 36,000 to 300,000 sq. ft.) to handle bulky Pre-Engineering Building (PEB) materials. The company is targeting 2,000 tonnes of production in 3-4 years and has a plant booked through October 2024.

Products & Services

Roofing Sheets, Purlins, Columns, Beams, FRP sheets, Polycarbonate Sheets, and structural hardwares.

Brand Portfolio

Bansal Roofing

New Products/Services

Pre-Engineering Building (PEB) structures are the primary focus of the new capacity expansion.

Market Expansion

The company is expanding its reach from its Gujarat base to northern and central India, specifically targeting large industrial clients in Punjab and Chhattisgarh.

🌍 External Factors

Industry Trends

The industry is shifting toward Pre-Engineered Buildings (PEB) for faster industrial construction. Bansal Roofing has positioned itself by expanding its facility to 300,000 sq. ft. to accommodate the storage and fabrication of heavy structural components.

Competitive Moat

The moat is based on manufacturing scale in Gujarat and established relationships with major conglomerates like Adani. The 300,000 sq. ft. facility provides a significant capacity advantage over smaller regional players.