Company Overview

Bansal Roofing Products Ltd. (BRPL) is a publicly listed company specializing in design, manufacturing, and installation of Pre-Engineered Building (PEB) structures, roofing and cladding systems, and related components. Established in 2011, the company serves industries including warehousing, manufacturing, chemical, pharma, engineering, showrooms, and game zones.

Management Personnel

  • Mr. Kaushalkumar S. Gupta (Chairman & Managing Director), aged 56, Bachelor's Degree in Industrial Engineering, 34 years experience
  • Mr. Kailash K. Gupta (Whole-time Director), aged 28, MBA from ICFAI Business School, Bachelor in Mechanical Engineering
  • Mrs. Sangeeta K. Gupta (Non-Executive Director), Master degree in Arts (English)
  • Mrs. Ritu Bansal (Company Secretary & Compliance Officer), aged 29, Bachelor's in Commerce, CS qualification
  • Mr. Jignesh Bansal (Finance Head), aged 27, Chartered Accountant
  • Mr. Chirag Rana (Chief Financial Officer)
  • Mr. Amiya Koley (General Manager-Production), aged 57

Products Range

The company manufactures:

  • Pre-Engineered Buildings
  • Color Coated Roofing Sheets
  • Purlins (Z Purlin, C Purlin, Sigma Purlin)
  • Perforated Sheets
  • PUF Insulated Sheets
  • CCPE/XLPE Insulated Sheets
  • Rockwool Insulated Sheets
  • Polycarbonate Sheets
  • Louvers
  • Ground Mounted Solar Structures

Expansion Journey & Capacity Updates

Historical Expansion:

  • 2020: Bought new land measuring 3 lakh sq ft
  • 2021: Migrated to Main Board of BSE
  • 2022: Phase 1 completed - Capacity: 1500 MT Roll Forming, 300 MT PEB
  • 2023: Phase 2 completed - Capacity: 500 MT PEB
  • Aug 2024: Phase 3 completed - Capacity: 800 MT PEB
  • Dec 2024: Phase 4 completed - Capacity: 1000 MT PEB

Current Expansion Projects:

  • Phase 5 and Phase 6 under construction, expected operational by August 2026
  • Phase 6 prioritized for early completion by June 2026
  • Phase 6 expected to generate additional 200 MT/month light fabrication PEB capacity

New Machinery Commissioning

Purlin Machine:

  • New high-speed C & Z Purlin roll-forming machine commissioned
  • Expected incremental capacity: 150 MT/month of Purlins
  • Reduces dependency on third-party job work

Solar Structures Machinery:

  • Order placed for advanced high-speed roll-forming machinery for Solar Module Mounting Structures
  • Machinery from Chinese supplier, expected commissioning by mid-June 2026
  • Expected revenue: ₹5 crores per month
  • Marketing activities and team recruitment initiated

Infrastructure

Unit 1: Plot No. 6, Raj Industrial Estate, Jarod-Samlaya Road, Village: Vadadala, Taluka: Savli, Dist. Vadodara - 391520

  • Built-up area: 18,000 sq. ft.
  • Currently leased out on monthly rental basis

Unit 2: Survey No. 274/2, Samlaya-Sherpura Road, Village: Pratapnagar, Taluka: Savli, Dist. Vadodara - 391520

  • Built-up area: 300,000 sq. ft. across 7 acres
  • Fully integrated operational facility

Manufacturing Arsenal

Unit 2 facility equipment includes:

  • CNC Plasma Cutting Machine
  • H-Beam Welding Machine
  • Various Roll Forming Machines
  • MIG Welding Machines
  • Gas Cutting Machines
  • Grinding Machines
  • Hydraulic Shearing & Bending Machines
  • Shot Blasting Machines
  • Painting Machines
  • EOT Cranes
  • Mobile Crane
  • Power Presses

Marketing & Branding Initiatives

  • Active presence on B2B platforms: Indiamart (Premium Listing), JustDial, GEM Portal
  • Professional digital marketing agency managing social media handles
  • SEO-optimized website with Google Ads
  • Participation in exhibitions including Steel Construction Expo Mumbai 2025
  • Annual "Let Us Discuss Steel Buildings" Seminar Series
  • Articles published in "Steel Structure and Metal Buildings (SSMB)" magazine
  • Regular ads in print media and industrial directories

Certifications & Accreditations

  • CRISIL SME 1 Grading
  • ISO 9001:2015 Quality Management System
  • ISO 14001 Environmental Management System
  • ISO 45001 Occupational Health & Safety Management
  • MSME ZED Gold Certification
  • IPF Fastest Growing Manufacturing Company Award (2021)
  • GUJARAT's MOST PROMISING BRAND award

Employee Initiatives

  • Labour quarters for 120 migrant workers
  • Subsidized canteen (50% subsidized rates)
  • Transport facilities for staff and workers
  • Uniforms provided to all workers and staff
  • Medical and life insurance schemes
  • Performance-linked incentives
  • Training and upskilling programs
  • Annual leisure trips and staff dinners

Operational Efficiency

  • 2-shift production model
  • Continuous machinery upgrades
  • Scrap control and material utilization efficiency
  • Shift towards renewable energy including solar
  • Energy audits and monitoring systems

Shareholding Pattern

  • Promoters: 73.3%
  • Public: 23.3%
  • Other shareholders: 4.4%

Historical Financial Performance (₹ in Lakhs)

| Financial Year | Revenue | EBITDA | PAT | EPS (₹) | Networth | Outstanding Debt |

| 2020-21 | 4,173.09 | 349.37 | 223.50 | 1.70 | 1,627.31 | 205.38 |

| 2021-22 | 7,258.55 | 589.43 | 393.86 | 2.99 | 1,988.21 | 591.66 |

| 2022-23 | 9,325.25 | 708.07 | 417.06 | 3.16 | 2,405.27 | 650.73 |

| 2023-24 | 10,558.40 | 665.86 | 354.57 | 2.69 | 2,760.50 | 426.22 |

| 2024-25 | 9,662.53 | 930.40 | 553.81 | 4.20 | 3,313.66 | 224.00 |

| 2025-26 | 15,429.57 | 1,595.70 | 1,038.54 | 8.00 | 4,220.38 | 227.60 |

Financial Ratios

| Ratio | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 |

| Trade Receivables Turnover | 15.97 | 29.04 | 36.29 | 43.41 | 40.17 | 51.87 |

| Inventory Turnover | 4.99 | 7.02 | 8.83 | 13.81 | 7.27 | 7.27 |

| Interest Coverage | 38.29 | 39.84 | 12.67 | 11.43 | 23.48 | 78.53 |

| Current Ratio | 3.26 | 1.55 | 1.57 | 1.16 | 1.24 | 1.57 |

| Debt Equity Ratio | 0.13 | 0.30 | 0.27 | 0.15 | 0.07 | 0.05 |

| EBITDA Margin | 8.48% | 8.12% | 7.59% | 6.31% | 9.63% | 10.34% |

| PAT Margin | 5.39% | 5.43% | 4.47% | 3.36% | 5.73% | 6.73% |

| Return on Equity | 14.60% | 21.79% | 18.99% | 13.73% | 18.23% | 27.57% |

| Return on Capital Employed | 18.86% | 24.23% | 21.36% | 16.80% | 22.58% | 34.70% |

Dividend History

| Financial Year | Dividend Per Share (₹) | Total Dividend Distributed (₹) |

| 2017-18 | 0.50 | 16,47,900 |

| 2018-19 | 1.00 | 32,95,800 |

| 2019-20 | 1.00 | 32,95,800 |

| 2020-21 | 1.00 | 32,95,800 |

| 2024-25 | 1.00 | 1,31,83,200 |

| Total | | 2,47,18,500 |

Financial Projections (₹ in Lakhs)

| Particulars | 2026-27 | 2027-28 | 2028-29 |

| Revenue | 18,797.85 | 23,557.27 | 29,521.73 |

| EBITDA | 1,503.83 | 1,884.58 | 2,361.74 |

| PAT | 1,227.87 | 1,413.44 | 1,771.30 |

| EPS (₹) | 8.56 | 10.72 | 13.44 |

| Networth* | 5,448.25 | 6,861.69 | 8,633.00 |

| Outstanding Debt | 387.20 | 264.00 | 165.00 |

*Subject to issue of Dividend

Revenue CAGR: 25.32% (4-year till 2025-26: 20.75%, 5-year till 2025-26: 29.89%)

Estimated EBITDA Margin: 8.00%

Estimated PAT Margin: 6.00%

Geographical Revenue Mix

| Region | FY 2023-24 | FY 2024-25 | FY 2025-26 |

| Within Gujarat | 81.24% | 85.41% | 86.88% |

| SEZ Area | 8.89% | 1.06% | 0.74% |

| Outside Gujarat | 9.71% | 13.53% | 11.38% |

| Exports | 0.16% | 0.00% | 1.00% |

Production Volumes (MT)

| Product | FY 2022-23 | FY 2023-24 | FY 2024-25 | FY 2025-26 |

| Roll Forming Products | 6,149 | 6,151 | 5,491 | 6,901 |

| PEB Structures | 2,867 | 3,362 | 3,862 | 7,763 |

Capacity Utilization - FY 2025-26

| Product | Installed Capacity (MT) | Actual Production (MT) | Utilization |

| Roofing Sheets | 10,000 | 5,072 | 50.72% |

| Decking Sheets | 6,000 | 552 | 9.20% |

| Purlin | 1,500 | 1,278 | 85.20% |

| PEB Structure | 9,600 | 7,763 | 80.86% |

Current Operational Status

  • PEB production: 647 MT/month average against 800 MT installed capacity
  • Target PEB capacity: 1,200 MT/month after Phase 5 & 6 completion
  • Identified small-scale PEB fabricators for job work partnerships
  • Confirmed executable order book for PEB structures: approximately two months

Future Plans

  • Continuous Sandwich PUF Panel Line: Planning phase, estimated capex ₹20-25 crores
  • Expected annual revenue: ₹120-150 crores
  • Aggressive marketing campaigns already initiated for sandwich PUF panels