BGR Energy Systems

Quick check

The five things to look at first. Open one for more.

• DebtLook closerRated D by Brickwork.
• ResultsLoss-makingLost ₹223 Cr in the Jun 2026 quarter, a smaller loss than a year earlier.
• DilutionRaise plannedNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 51% of the company, about the same as in Jun 2025.

BGR Energy Systems against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)9.1 against a typical 14.4: cheaper than most peers (1st = cheapest).52nd of 181
• Sales growth−82% against a typical +8.6% from a year earlier.141st of 147
• Share price, 3 months−2% against a typical −13.6%.52nd of 164
• Size₹ 2,010.1 Cr. market value against a typical ₹ 148 Cr. (1st = largest).27th of 156

Exchange filings and their impact on the company.

• 26 Oct 2026AppointmentLow impactNeutralPrice +5% on 27 Oct
  BGR Energy appointed a new Whole-Time Director and finance chief and doubled authorised capital to Rs 400 crore, with no immediate fund raise.

  BGR Energy Systems' board on 26 October 2026 appointed Ram Naresh Singh Tomar as Whole-Time Director for five years and Harish Gupta as President - Finance and Strategy, subject to shareholder approval. The board also approved increasing authorised share capital from Rs 200 crore to Rs 400 crore with a related change to the Memorandum of Association, subject to shareholder approval. There is no immediate share issue or fund raise, so there is no direct financial impact yet.

  Full analysisFiling
• 14 Oct 2026General UpdatesHigh impactVery negativePrice +5% that day
  BGR Energy defaulted on its entire Rs 3,765 crore bank debt, confirming insolvency risk.

  BGR Energy Systems disclosed that it has defaulted on its entire bank borrowings of Rs 3,764.77 crore as on 30 September 2026, out of total financial debt of Rs 4,222.95 crore. There is no outstanding unlisted NCD debt. The 100% default confirms severe financial stress, with likely lender action, loss of working capital support and high risk to operations and recovery over the next year.

  Full analysisFiling
• 8 Oct 2026Corporate Insolvency Resolution ProcessHigh impactPositivePrice +5% on 9 Oct
  NCLAT cleared BGR Energy to raise equity via rights issue to settle NARCL and pursue CIRP withdrawal.

  BGR Energy, under CIRP since April 2026, said NCLAT on 7 October 2026 allowed its board to increase authorised capital and carry out a rights issue after it signed a Master Restructuring Agreement with National Asset Reconstruction Company on 5 October 2026. The lender, with about 97% CoC vote, wants the equity infusion process to run from 9 October to 31 December 2026, with proceeds to first settle its dues. If completed, the company plans to seek withdrawal of insolvency under Section 12A, offering a path to survive its large debt load.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

S. Sundar

Chief Financial Officer, Compliance Officer, Company Secretary

Arjun Govind Raghupathy

Managing Director, Executive Officer

Ganesan Jeyakrishna

Executive and Non-Independent Director