Bharat Seats Ltd, incorporated in 1986, is a joint venture between Suzuki Motor Corporation Japan, Maruti Suzuki India Ltd, and Rohit Relan and Associates. The company specializes in manufacturing complete seating systems and interior components for the automotive and surface transport industry. It is an IATF 16949, ISO 14001 & OHSAS 18001 certified manufacturer, showcasing its commitment to quality and operational excellence.
Currently, Bharat Seats Ltd is engaged in the manufacturing of seating systems, carpets, NVH components, and body sealing parts for four-wheelers and two-wheelers, along with seating systems for Indian Railways. The company operates through 5 state-of-the-art manufacturing facilities spread across India, demonstrating its significant manufacturing capabilities and geographic reach. It employs 345 total employees across all locations, generating $75.49 million in sales (USD).
The company has shown strong financial performance in recent periods, reflecting robust demand for its products and efficient operations.
For the full year ended March 2025, net profit rose 30.54% to Rs 32.70 crore compared to Rs 25.05 crore in the previous year. Sales increased 20.81% to Rs 1,288.82 crore from Rs 1,066.82 crore in FY24.
In the quarter ended March 2025, net profit jumped 40.97% to Rs 11.39 crore against Rs 8.08 crore in the same quarter of the previous year. Sales for the quarter rose 41.28% to Rs 392.91 crore from Rs 278.10 crore. This consistent growth trajectory highlights the company's strong operational performance and increasing market demand for its diverse product portfolio.
• Revenue (Q1 FY25): Rs 392.91 crore
• Net Profit (Q1 FY25): Rs 11.39 crore
• Net Profit (FY25): Rs 32.70 crore
• Sales (FY25): Rs 1,288.82 crore
• Market Capitalization: Rs 633 crore (as of March 2025)
• P/E Ratio: 14.34
• P/B Ratio: 2.81
• Dividend Yield: 1.47%
• Promoter Holding: 74.66% (as of March 2025)
The company's product portfolio is comprehensive and diverse, covering multiple segments of the automotive industry. Their product range includes:
- Four-wheeler seating systems
- Two-wheeler seating systems
- Moulded carpets
- Two-wheeler frames and sheet metal components
- Railway seats and berths
- Two-wheeler mainframes
This diversification across automotive segments provides the company with multiple revenue streams and reduces dependency on any single market segment.
With technical assistance from Houwa Kogyo Co. Ltd., BSL has developed seat sets for Maruti's latest vehicles, including the CarAlto. The company serves as the sole ancillary unit of Maruti Udyog Limited (MUL) for seat set production, positioning it as a key strategic supplier in the Indian automotive market.
The company also operates a research & development center approved by the Ministry of Science and Technology, demonstrating its commitment to innovation and technological advancement in the automotive components sector.
Rohit Relan serves as the Chairman & Managing Director of Bharat Seats. A Chartered Accountant (CPA) who has undertaken the Owner President Program at Harvard Business School and the Management Development Program at INSEAD France, he has been successfully running engineering companies since 1986.
Rohit Relan has been working closely with the Japanese community for the last two decades as Co-Chairman of the India-Japan Business Cooperation Committee. He was conferred the award of "Order of the Rising Sun, Gold Rays with Rosette" by the Emperor of Japan for his significant contributions, highlighting his strong international business acumen and relationships.
Promoter holding in Bharat Seats Ltd has increased to 74.66% as of March 2025 from 74.59% as of December 2024, indicating strong promoter confidence in the company's future prospects. The company maintains high corporate governance standards and is compliant with all regulatory requirements.
Bharat Seats Ltd is part of the Motor Vehicle Parts Manufacturing Industry, belonging to the Consumer Discretionary sector and Auto Parts sub-sector. This positions it well within the growing Indian automotive market.
The company's strategic partnerships, particularly with Suzuki Motor Corporation and Maruti Suzuki India, provide it with a significant competitive advantage in the Indian automotive market. With the continued expansion of the Indian automotive industry and an increasing focus on comfort, safety, and advanced features in vehicles, Bharat Seats Ltd is well-positioned to capitalize on emerging opportunities in the seating systems and interior components market. The company's diversified product portfolio and strong R&D focus underscore its potential for sustained growth.
