B.L. Kashyap & Sons Ltd. (BLKASHYAP) AI Stock Analysis

B.L. Kashyap & Sons Ltd.

(NSE:BLKASHYAP)

Select Model

Rating:59Neutral

Price Target:INR 55.00▲(5.36% Upside)

Action:reiterated

Date:10/14/26

Overall score is held back primarily by weakened profitability (FY2026 net income collapse and ~0.1% net margin) despite improved debt levels and a cash-flow rebound. Technicals are supportive with price above major DMAs and positive momentum, but the extremely high P/E meaningfully pressures the score on valuation.

Positive Factors

Revenue RecoveryThe return to annual revenue growth indicates renewed project execution and contract activity after the prior-year decline. Sustained growth would improve operating scale, support overhead absorption, and provide a stronger base for rebuilding profitability across the construction portfolio.

Negative Factors

Profitability CollapseThe sharp earnings decline and extremely thin net margin leave little room for project overruns, pricing pressure, or execution setbacks. Weak profit conversion also limits internally generated capital and makes future results highly sensitive to contract economics.

B.L. Kashyap & Sons Ltd. (BLKASHYAP) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 11.75B
Dividend Yield: ―
Average Volume (3M): 36.38K
Price to Earnings (P/E): 2607.0
Beta (1Y): 1.77
Revenue Growth: 21.77%
EPS Growth: -96.12%
Country: India
Employees: 1,297
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

B.L. Kashyap & Sons Ltd. Business Overview & Revenue Model

Company Description

Operating across India, B.L. Kashyap and Sons Limited, along with its affiliated entities, specializes in construction and infrastructure development. Their extensive portfolio covers the erection of a wide array of structures, including IT campuses,...

How the Company Makes Money

BLKASHYAP primarily makes money by winning construction contracts and executing projects for clients, earning revenue based on the value of work performed under those contracts. Its key revenue stream is contract (project) revenue recognized as const...

B.L. Kashyap & Sons Ltd. Financial Statement Overview

Summary

Mixed fundamentals: leverage has improved with debt down to ~2.57B (from ~3.16B) and operating cash flow rebounded to ~760.9M with positive free cash flow (~193.5M). Offsetting this, profitability deteriorated sharply as FY2026 net income fell to ~15.5M from ~274.8M, leaving an extremely thin ~0.1% net margin and highlighting execution/contract sensitivity.

Income Statement

53Neutral

Balance Sheet

64Positive

Cash Flow

61Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	13.88B	13.79B	11.54B	12.45B	11.10B	11.32B
Gross Profit	1.51B	1.16B	697.22M	4.14B	3.54B	3.35B
EBITDA	877.40M	1.05B	1.10B	1.15B	812.01M	1.31B
Net Income	7.01M	15.47M	274.75M	525.29M	221.39M	439.47M
Balance Sheet
Total Assets	0	16.62B	15.16B	14.12B	12.95B	14.32B
Cash, Cash Equivalents and Short-Term Investments	433.90M	433.90M	350.57M	179.58M	516.10M	329.43M
Total Debt	0	2.99B	3.16B	3.10B	3.20B	3.80B
Total Liabilities	-5.27B	11.35B	9.92B	9.15B	8.50B	10.09B
Stockholders Equity	5.27B	5.27B	5.24B	4.96B	4.45B	4.23B
Cash Flow
Free Cash Flow	111.55M	193.52M	-186.47M	438.25M	-39.40M	785.42M
Operating Cash Flow	457.59M	760.92M	344.10M	788.10M	195.39M	871.60M
Investing Cash Flow	-328.14M	-586.63M	-346.94M	-311.41M	1.10B	-137.08M
Financing Cash Flow	-254.41M	-177.83M	47.37M	-802.67M	-1.10B	-688.31M

B.L. Kashyap & Sons Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price52.20

Price Trends

50DMA54.24Negative

100DMA54.54Negative

200DMA52.95Negative

Market Momentum

MACD-0.50Positive

RSI44.58Neutral

STOCH22.42Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BLKASHYAP, the sentiment is Negative. The current price of 52.20 is below the 20-day moving average (MA) of 54.50, below the 50-day MA of 54.24, and below the 200-day MA of 52.95, indicating a bearish trend. The MACD of -0.50 indicates Positive momentum. The RSI at 44.58 is Neutral, neither overbought nor oversold. The STOCH value of 22.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BLKASHYAP.

B.L. Kashyap & Sons Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:BLKASHYAP against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GARUDA	73Outperform	INR 12.70B	9.29	―	0.02%	84.01%	96.74%
IN:GPTINFRA	68Neutral	INR 14.19B	14.38	―	2.45%	1.62%	12.27%
IN:GAYAPROJ	61Neutral	INR 8.79B	0.17	―	―	145.41%	1411.16%
IN:BLKASHYAP	59Neutral	INR 11.77B	2607.00	―	―	21.77%	-96.12%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SIMPLEXINF	47Neutral	INR 20.03B	43.29	―	―	4.58%	33.42%
IN:VASCONEQ	44Neutral	INR 6.90B	23.87	―	―	-20.20%	-80.22%

* General Sector Average

Performance Comparison

IN:BLKASHYAP and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:BLKASHYAP	B.L. Kashyap & Sons Ltd.	52.20	-7.11	-11.99%
IN:GARUDA	Garuda Construction and Engineering Limited	136.55	-77.11	-36.09%
IN:GAYAPROJ	Gayatri Projects Limited	18.93	7.80	70.08%
IN:GPTINFRA	GPT Infraprojects Limited	112.30	7.82	7.49%
IN:SIMPLEXINF	Simplex Infrastructures Limited	253.30	-34.45	-11.97%
IN:VASCONEQ	Vascon Engineers Limited	29.79	-39.64	-57.09%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 14, 2026

B.L. Kashyap & Sons Ltd. AI Stock Analysis