Behari Lal Engineering Share Price Target 2026, 2027, 2030, 2040
Behari Lal Engineering is a steel manufacturing company that makes different types of steel products for industrial use. Its products include engineering castings, alloy steel, metal rolls, forged shafts, blocks and other steel items. These products are used by industries such as automobiles, cement, mining, power, sugar, paper, infrastructure and engineering. The company makes products according to the needs of its customers and has manufacturing facilities for steel melting, casting, forging and rolling.
What is Behari Lal Engineering Ltd ?
Behari Lal Engineering was established in 1995. The company is promoted by the Garg family, including Parkash Chand Garg, Rajesh Garg, Dinesh Garg, Lovlish Garg and Bhuvnesh Garg. It is an Indian steel manufacturing company that makes different types of steel products and engineering components for industrial use. Its main products include metal rolls, engineering castings, alloy steel products, forging ingots, forged shafts and blocks. These products are used in industries such as steel, mining, power, cement, sugar, infrastructure and defence.
It has been working in the Indian steel industry for many years. The company started its business in 1995 as Behari Lal Ispat Private Limited. In the beginning, it mainly traded steel billets, sponge iron, DRI and ferro alloys. Later, the company moved from trading to manufacturing steel products. It started commercial production in 2012 at its Steel Melting Shop and Foundry Division in Mandi Gobindgarh, Punjab. In 2026, its share price target would be ₹832, as per stock market analysts.
According to stock market analysts, its share price would be between ₹337 to ₹832 in 2026.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 337 | 832 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | — | — |
| February | — | — |
| March | — | — |
| April | — | — |
| May | — | — |
| June | — | — |
| July | — | — |
| August | 400 | 570 |
| September | 337 | 677 |
| October | 374 | 752 |
| November | 474 | 790 |
| December | 560 | 832 |
The company has its main manufacturing facilities in Mandi Gobindgarh, Punjab. One facility is located at Village Salani on Amloh Road and has a Steel Melting Shop, Foundry and Machine Shop. The company also has a Rolling Mill Division at Village Turan in Mandi Gobindgarh. These facilities help the company carry out different steps of steel production. The Steel Melting Shop is used to make different types of steel and alloy products. In 2027, its share price target would be ₹730, as per stock market analysts.
According to stock market analysts, its share price would be between ₹420 to ₹730 in 2027.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2027 | 420 | 730 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 420 | 521 |
| February | 447 | 554 |
| March | 474 | 575 |
| April | 490 | 600 |
| May | 515 | 621 |
| June | 532 | 635 |
| July | 558 | 652 |
| August | 574 | 674 |
| September | 590 | 690 |
| October | 600 | 700 |
| November | 632 | 715 |
| December | 650 | 730 |
The company makes different types of rolls, including alloy cast steel rolls, alloy steel base adamite rolls, graphitic steel rolls and S.G. iron rolls. These rolls are mainly used in steel mills and other industries where steel and other materials are passed through machines to give them the required shape and size. The company makes these rolls according to the needs of its customers. This means the size, type, and other features of the rolls can be changed depending on their use. In 2028, its share price target would be ₹874, as per stock market analysts.
According to stock market analysts, its share price would be between ₹700 to ₹874 in 2028.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2028 | 700 | 874 |
It also makes engineering castings for heavy industries. These castings are made from steel and iron and are designed to be strong and long-lasting. The company supplies these products to industries such as steel, iron, mining, aggregate crushing, power and sugar. The size, grade and other features of the castings can be changed according to customer requirements. This allows the company to make products for different machines and industrial equipment. In 2029, its share price target would be ₹1074, as per stock market analysts.
According to stock market analysts, its share price would be between ₹850 to ₹1074 in 2029.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2029 | 850 | 1074 |
The company makes different types of carbon steel, alloy steel and stainless steel products in various shapes and sizes. These products include round bars, flat bars and other special steel products. Some of these products are made for situations where high strength, hardness, heat resistance or wear resistance is needed. Alloy steel is commonly used in industries such as automobiles, engineering, machinery, power and infrastructure. In 2030, its share price target would be ₹1400, as per stock market analysts.
According to stock market analysts, its share price would be between ₹1055 to ₹1400 in 2030.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2030 | 1055 | 1400 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 1055 | 1187 |
| February | 1080 | 1200 |
| March | 1089 | 1221 |
| April | 1110 | 1242 |
| May | 1132 | 1263 |
| June | 1150 | 1278 |
| July | 1174 | 1300 |
| August | 1200 | 1318 |
| September | 1223 | 1341 |
| October | 1254 | 1368 |
| November | 1250 | 1380 |
| December | 1289 | 1400 |
It also makes forging ingots, forged shafts and forged blocks for industrial use. These products are used where strong and durable steel components are needed. Forged steel products are commonly used in heavy machinery, engineering equipment, power-related industries and other businesses where parts have to handle heavy loads and difficult working conditions. The company makes these products according to the size, grade and other requirements of its customers. In 2040, its share price target would be ₹3788, as per stock market analysts.
According to stock market analysts, its share price would be between ₹3252 to ₹3788 in 2040.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2040 | 3252 | 3788 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 3252 | 3387 |
| February | 3275 | 3400 |
| March | 3290 | 3435 |
| April | 3310 | 3474 |
| May | 3332 | 3500 |
| June | 3357 | 3532 |
| July | 3384 | 3565 |
| August | 3400 | 3580 |
| September | 3432 | 3600 |
| October | 3458 | 3663 |
| November | 3484 | 3700 |
| December | 3587 | 3788 |
The company has testing facilities and laboratories where qualified engineers and technicians check the products at different stages. Samples are tested to make sure they meet the required quality and safety standards. The company carries out different tests, including strength, impact, hardness and ultrasonic tests. It also uses magnetic particle testing to find possible defects in steel products. Chemical tests are also carried out to check the composition of the steel. In 2050, its share price target would be ₹6521, as per stock market analysts.
According to stock market analysts, its share price would be between ₹6220 to ₹6521 in 2050.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2050 | 6220 | 6600 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 6220 | 6358 |
| February | 6274 | 6387 |
| March | 6290 | 6400 |
| April | 6300 | 6421 |
| May | 6332 | 6441 |
| June | 6358 | 6450 |
| July | 6366 | 6474 |
| August | 6384 | 6490 |
| September | 6390 | 6522 |
| October | 6415 | 6545 |
| November | 6441 | 6578 |
| December | 6485 | 6600 |
Should I buy Behari Lal Engineering stock?
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 337 | 832 |
| 2027 | 420 | 730 |
| 2028 | 700 | 874 |
| 2029 | 850 | 1074 |
| 2030 | 1055 | 1400 |
| 2040 | 3252 | 3788 |
| 2050 | 6220 | 6600 |
It looks like a good company from a financial point of view, but investors should still be careful before buying its stock. The company has been growing its business and profits, while keeping its debt low. It also makes different types of steel products and sells them to customers from many industries, which can help support its business. The company is also adding new machines and improving its manufacturing facilities, which may help increase production and business in the future. However, the steel industry can be affected by changes in steel prices, raw material costs and customer demand. So, it is better to study the company and market conditions before investing.
Behari Lal Engineering earnings results (Financials)
| Mar 2023 | Mar 2024 | Mar 2025 | |
| Sales + | 462 | 445 | 507 |
| Expenses + | 417 | 388 | 434 |
| Operating Profit | 45 | 57 | 73 |
| OPM % | 10% | 13% | 14% |
| Other Income + | 5 | 4 | 8 |
| Interest | 4 | 2 | 1 |
| Depreciation | 8 | 9 | 11 |
| Profit before tax | 38 | 50 | 69 |
| Tax % | 25% | 28% | 24% |
| Net Profit + | 29 | 36 | 53 |
| EPS in Rs | 72.00 | 73.66 | 67.82 |
| Dividend Payout % | 0% | 0% | 0% |
Is Behari Lal Engineering stock good to buy? (bull case & bear case)
Bull Case:
- The company’s total income increased from ₹449.96 crore in FY24 to ₹546.52 crore in FY26, showing that the business is growing steadily.
- The company’s net profit increased from ₹35.79 crore in FY24 to ₹64.64 crore in FY26, showing a strong rise in earnings.
- EBITDA increased from ₹60.99 crore in FY24 to ₹101.32 crore in FY26, which shows that the company is earning more from its main business.
- The company’s net worth increased from ₹193.66 crore in FY24 to ₹306.10 crore in FY26, showing that its overall financial position has become stronger.
- The company’s borrowings fell from ₹41.21 crore in FY24 to ₹17.78 crore in FY26, meaning its debt burden has reduced significantly.
- The company has a healthy ROE of 23.60% and ROCE of 27.11%, which means it is making good use of shareholders’ money and the money invested in the business.
- The company makes many products, including metal rolls, engineering castings, alloy steel products, forging ingots, forged shafts and blocks, which gives it business from different areas.
Bear Case:
- The company works in the steel industry, where changes in steel prices, raw material costs and market demand can affect its business and profits.
- The company’s total income increased from ₹516.30 crore in FY25 to ₹546.52 crore in FY26, showing that its revenue growth was slower during the latest year.
- The company had an EBITDA margin of 18.97% in FY26. Higher raw material, electricity, or production costs could reduce its profit margin.
Conclusion
It has shown good growth in its business and profits in recent years. Its income and profit have increased, while its debt has reduced, which is a positive sign for the company. It makes many types of steel products and supplies them to industries such as steel, mining, power, cement, automobiles and infrastructure. This variety can help the company get business from different sectors. The company is also adding new machines and improving its factories, which could help increase production in the future.
