Bhagyanagar India Ltd Q2 FY26 – Copper King Turns Solar Sultan with 202% Profit Growth, 65.7 MW Sun-Powered Ambitions & a ₹450 Cr Market Cap Glow-Up

1. At a Glance

If copper could talk, it would probably say, “I conduct electricity — and apparently, profits too.” Bhagyanagar India Ltd (BIL), the Hyderabad-based copper crusader, has had an electrifying run. With a market cap of ₹450 crore, the stock’s up nearly63% in 3 monthsand84% in 6 months, thanks to a mix of copper, solar, and wind power drama that even Ekta Kapoor couldn’t script better.

At₹143 per share, BIL trades at a P/E of16.4x, while flaunting a quarterly profit of₹11.3 croreon sales of₹580 crore. YoY profit? Up a mind-blowing202%. The operating profit margin’s finally stretched to a respectable4%, showing that copper prices may fluctuate — but Bhagyanagar’s ambition doesn’t.

Debt? Oh yes — a spicy ₹369 crore worth. But promoters still hold70.6%, meaning the Surana family is as deeply wired into this company as copper is into an electric motor. Add a shiny 65.7 MW solar project, a wind power PPA still alive till 2026, and a ₹230 crore investment promise — and you have an old-school metals player reborn as a renewable rockstar.

2. Introduction

Once upon a time in the dusty industrial lanes of Hyderabad, Bhagyanagar India Ltd was your typical copper merchant. They made copper rods, wires, and foils — the unsung backbone of Indian manufacturing. Then, somewhere between GST penalties and solar awards, the Suranas decided: “Why stay grounded when you can go green?”

Today, this company is straddlingtwo eras— the legacy copper trade and the glitzy renewable revolution. FromOEM clients like Lucas-TVS, Amar Raja, and MICOto signing25-year solar PPAs, they’ve gone from metal men to megawatt makers.

And boy, the market’s noticed. The stock’s recent breakout was juiced by strong results:sales up 42.2%,profits up 202% YoY, and copper output hitting record utilization levels. The new talk of town? Theirmerger-demeger saga— Bhagyanagar Copper Private Ltd merging into BIL, while the copper business demerges into a new entityTieramet. Confused? Perfect. That’s how every Indian corporate restructuring starts.

So, grab a chai — because this isn’t just about copper sheets anymore. This is a full-fledged drama of diversification, debt, and determination.

3. Business Model – WTF Do They Even Do?

Think of Bhagyanagar India as a buffet of metal-meets-energy chaos. At its core, it manufacturescopper and copper-based products— the real backbone of electrical, electronics, and automotive sectors.

Their copper products include everything frombus bars, wires, rods, foils, insulated conductors, nuggets, and tubesto intricate assemblies likesolenoid switches and yokes. Basically, if it can conduct current — they make it, polish it, and ship it.

But the Suranas don’t stop there. Like every ambitious family-run business, they’ve diversified more than a typical Indian uncle’s mutual fund portfolio.

• Solar products– Flat plate collectors, solar fins, and heating elements.
• Telecom and real estate– Just in case the copper business feels dull.
• Wind power– 9 MW capacity in Karnataka, supplying to HESCOM and GESCOM at ₹3.40 per unit.
• Solar power– They’re not just installing panels; they’re buildingprojects. A massive65.7 MW project in Uttar Pradeshand a53 MW (AC) project worth ₹245 crorehave put BIL firmly in the renewable game.

Oh, and don’t forget theirsubsidiary — Bhagyanagar Copper Pvt Ltd (BCPL). This 100% arm has expanded copper capacity from15,000 MT to 24,000 MTon a sprawling65-acre site in Telangana. Because when you’re hot on copper, go big or go oxidized.

4. Financials Overview

Let’s decode the latest quarter (Q2 FY26) like the finance nerds we secretly are.

Commentary:That’s not growth — that’s