Bhartiya International Ltd

The agency has reaffirmed the company's long-term rating and short-term rating at 'IND BBB' and 'IND A2', respectively. India Ratings and Research stated that it had previously placed the rating on 'Rating Watch with Negative Implications', due to uncertainty over the impact of the US tariff on the company's operations. The agency had resolved the 'Rating Watch' in view of the reduction in the tariff to 18% from 50% and the improvement in the company's operating performance in 9M FY26. The affirmation reflects the continued growth in BIL's revenue during FY25-9MFY26, and India Ratings' expectation of a sustained increase in the same in the medium term. The ratings also factor in an improvement in the credit metrics in FY25, and the likelihood of continued improvement in the same in the medium term. Furthermore, the EBITDA margins increased in 9M FY26, and are likely to see further improvement in the medium term. The ratings are supported by BIL's established market position and strong customer relationships. However, the ratings are constrained by BIL's elongated working capital cycle due to the integrated nature of operations, multi-location manufacturing base, and seasonality in sales and raw leather availability. Bhartiya International (BIL) exports leather garments and accessories to the US, Italy, France, Spain, and Austria, among others. BIL sources leather from India, Europe, the Middle East, Latin America and other Asia Pacific counties. The company has manufacturing facilities in Bengaluru (Karnataka), Chennai (Tamil Nadu) and Nellore (Andhra Pradesh) with a design studio in Milan via its 100%-owned Italian subsidiary, Ultima S.A. The company had reported a consolidated net profit of Rs 6.70 crore in the quarter ended December 2025 as against net loss of Rs 1.51 crore during the previous quarter ended December 2024. Sales rose 39.16% to Rs 365.95 crore in Q3 FY26 as compared with Q3 FY25. Powered by Capital Market - Live

Net profit of Bhartiya International reported to Rs 6.70 crore in the quarter ended December 2025 as against net loss of Rs 1.51 crore during the previous quarter ended December 2024. Sales rose 39.16% to Rs 365.95 crore in the quarter ended December 2025 as against Rs 262.97 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales365.95262.97 39 OPM %7.846.62 - PBDT16.866.80 148 PBT10.360.26 3885 NP6.70-1.51 LP Powered by Capital Market - Live

Bhartiya International will hold a meeting of the Board of Directors of the Company on 11 February 2026.Powered by Capital Market - Live

Net profit of Bhartiya International rose 29.30% to Rs 9.93 crore in the quarter ended September 2025 as against Rs 7.68 crore during the previous quarter ended September 2024. Sales rose 34.97% to Rs 399.40 crore in the quarter ended September 2025 as against Rs 295.91 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales399.40295.91 35 OPM %8.879.62 - PBDT22.6218.17 24 PBT16.1611.77 37 NP9.937.68 29 Powered by Capital Market - Live

Bhartiya International will hold a meeting of the Board of Directors of the Company on 6 November 2025.Powered by Capital Market - Live

Bhartiya International announced that the 38th Annual General Meeting(AGM) of the company will be held on 29 September 2025.Powered by Capital Market - Live

Bhartiya International has allotted 4,26,000 equity shares on conversion of warrants on 02 September 2025. Consequent to conversation of warrants/allotment of Equity Shares, the issued and paid-up capital of the Company stands increased to Rs. 13,41,04,110 /-consisting of 1,34,10,411 equity Shares of Re. 10/- each. The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company.Powered by Capital Market - Live

India Ratings and Research (Ind-Ra) has placed Bhartiya International's bank loan facilities on Rating Watch with Negative Implications. The rating assigned is IND BBB/ IND A2. Powered by Capital Market - Live

Net profit of Bhartiya International reported to Rs 5.58 crore in the quarter ended June 2025 as against net loss of Rs 5.42 crore during the previous quarter ended June 2024. Sales rose 22.13% to Rs 279.96 crore in the quarter ended June 2025 as against Rs 229.24 crore during the previous quarter ended June 2024. ParticularsQuarter EndedJun. 2025Jun. 2024% Var. Sales279.96229.24 22 OPM %9.235.37 - PBDT15.132.68 465 PBT8.66-3.72 LP NP5.58-5.42 LP Powered by Capital Market - Live

Bhartiya International will hold a meeting of the Board of Directors of the Company on 13 August 2025.Powered by Capital Market - Live