AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Sep - Newspaper Publication for 30th Annual General Meeting Scheduled to be held on Tuesday September 29, 2026.
Source: Bse
Bella Casa Fashion & Retail Limited (BELLACASA)
Small CapConsumer stocks · Small cap · NSE
Bella Casa Fashion & Retail Ltd. is an Original Design Manufacturer (ODM) for apparel, offering end-to-end services to 50+ domestic brands. Specializes in Western & Ethnic Wear for women, men & kids. Operates 6 manufacturing plants in Jaipur with a capacity of 2 Cr. pcs/annum. Focused on technology-led operations and sustainable practices.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 06:58 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
36BearishSMA20 +1.6% / mo · MACD − · near 52W low · sector -4.6pp vs Nifty 500 (3M)
Stock trend: 39
Sector RS: 31
Sector 3M: -10.2% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BELLACASAD candles · FIT view-16.0%Latest close ₹222.14 on 2026-10-21
Bar
-3.7%
RSI
34
MACD hist
-3.29
52W pos
3%
2026-10-21O ₹230.58H ₹236.00L ₹218.55C ₹222.14Vol 10,582 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BELLACASANifty Consumer DurablesNifty 500
- BELLACASA
- -8.8%
- Nifty 500
- -6.5%
- Nifty Consumer Durables
- -11.0%
- Vs Nifty 500
- -2.3 pp
Chart stats
21 Oct 2026- From 52W high
- -55.3%
- 52W range position
- 3%
- ATR (14)
- 6.5%
- Volume vs 20D
- 0.68x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹218.6 - ₹285
₹497.4
₹214.7 - ₹497.4
₹14.5
Latest completed session
20-session average
42.3% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE54
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +33.4% · PAT -46.0% YoY
Technical
Bearish36
Price trend and sector-relative-strength timing.
Valuation
Legacy model+50.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence77
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -46% YoY · margin compression · Rev +33% YoY · +8% QoQ
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹119.9 Cr | +33.4% | +8.4% |
| EBITDA | ₹5.9 Cr | -19.9% | -24.7% |
| Operating margin | 4.9% | -328 bps | -216 bps |
| PAT | ₹2.5 Cr | -46.0% | -44.4% |
| PAT margin | 2.1% | -311 bps | -201 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 17.60
- P/B
- 1.90
- EV/EBITDA
- 10.70
- Market Cap
- 317.00Cr
Profitability
- ROE
- 12.70%
- ROCE
- 15.20%
- ROA
- 5.96%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 26.00%
- EPS 5Y
- 30.00%
- Revenue 3Y
- 27.00%
- EPS 3Y
- 37.00%
Balance Sheet
- Debt/Equity
- 0.47
- Interest Coverage
- 5.33×
- Altman Z
- 4.15
- Book Value
- 125.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- 31.00 Cr
- EPS TTM
- 13.42
Shareholding
- Promoter Hold
- 58.34%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 11%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 120+8.4% vs prev
Net Profit
₹ CrLatest: 2.5-44.4% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 34.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~1.6% over last month) — short-term momentum positive.
- RSI(14) at 34 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
16
RS percentile
Stage 4 Downtrend
1M return
-18.7%
3M return
-8.8%
6M return
-16.0%
1Y return
-47.8%
RS 1D
-2
RS 20D
-20
Sector rank
#8
Industry rank
#33
Stage evidence
- Price is 11.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 56.95-4.48%
RS vs Nifty 50057
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation14/30
Growth21/25
Quality5/20
Balance Sheet7/15
Cash Flow4/10
Piotroski
7/9 (+5)
Penalties
-2
Raw sum
54
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
54/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 50.3%.
- Growth contributes 21/25 to the score.
Main drags
- Penalty bucket subtracts 2 points.
- Quality is weaker at 5/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
17.6
PB
1.9
EV/EBITDA
10.7
ROE
12.7%
ROCE
15.2%
FCF Yield
—
Debt/Equity
0.5
MoS
+50.3%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
54
Previous: 54
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+50.3%
Previous: +47.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
51
51
51
51
51
54
54
54
54
54
54
54
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹194.28
-14.3% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹446.89
+50.3% MoS
PEG
0.54
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
HIMATSEIDE
Small
Himatsingka Seide Limited
Textiles
match 78
57
14.5
3.0%
+60%
FAIR VALUE
FAZE3Q
Small
Faze Three Limited
Textiles
match 73
21
34.3
6.4%
-305%
OVERVALUED
DCMNVL
Small
DCM Nouvelle Limited
Textiles
match 64
36
10.7
1.1%
-137%
WATCHLIST
VARDHACRLC
Small
Vardhman Acrylics Limited
Textiles
match 64
47
8.5
11.1%
-106%
FAIR VALUE
THOMASCOTT
Small
Thomas Scott (India) Limited
Textiles
match 64
53
16.8
16.8%
+44%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-10T07:45:59.133Z
Management commentary snapshot
Bella Casa Fashion & Retail reported strong FY26 performance with Sales up 19.2% YoY to Rs. 416 Cr. and PAT growing 31.3% YoY to Rs. 21 Cr. Operating profit margin remained stable at 8.1%, while ROCE improved to 16.9%.
The company's strategic shift from home furnishing to apparel ODM appears to be yielding results, evidenced by robust sales and PAT growth in FY26. Improved working capital efficiency and zero long-term debt are positive. However, operating margins remain relatively thin, and sustained growth will depend on execution in a competitive market.
Current business mix
Sales by Business Segment (FY26)
Latest issuer-disclosed distribution across 2 reported categories.
Apparel Business Sales90.0%
Home Furnishing Sales10.0%
Growth engines
Apparel ODM Leadership
Offering end-to-end manufacturing services to 50+ domestic brands & retailers, preferred choice for India's leading fashion brands.
Capacity Expansion Headroom
Capacity of 2 Cr. pcs per annum with headroom for further increment at nominal capex.
Broadening Product Lines
Serving 40% of a fashion store requirements, with capabilities to scale to 70%+ through category expansion.
Technology-Led Operations
Embracing Industry 4.0 principles to enhance productivity and transparency.
Capacity and execution
Unit Modernization & Upgrades
Unit 4 & 6 undergoing modernization and upgrades, capacity to expand by ~15%.
Land for Future Units
Land available for adding two new units.
Recent Capacity Increase
Setup 2 new facilities, increased capacity to 2 Cr. pcs per annum (2025).
Tailwinds
Rising Per Capita Spending
Increasing per capita income leading to increase in discretionary spends towards fashion.
Rise of Fast Fashion
Fast fashion driven by dynamic, young consumers demanding quick market response.
Shift Towards Organized Retail
Increasing TAM driven by domestic consumption & migration to organized retail.
Retail Capital Influx
Upsurge of affordable brands with investments from India’s top business conglomerates.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The document presents audited financial results for the full fiscal year ended March 31, 2026, making year-over-year comparison the most appropriate for assessing annual performance and trends.
Sector KPIs management disclosed
Sales Growth
Sales grew 19.2% YoY to Rs. 416 Cr. in FY26.
Operating Profit & Margin
Operating Profit increased to Rs. 34 Cr. in FY26, with margin at 8.1%.
Profit After Tax (PAT)
Profit After Tax rose to Rs. 21 Cr. in FY26.
Return on Capital Employed (ROCE)
ROCE was 16.9% in FY26.
Management forward view
Vision for Technology & Automation
To be the most technologically advanced and automated apparel manufacturer in India.
Mission for Design & Quality
To leverage cutting-edge technology and deliver delightful designs, superior quality, and unmatched procurement experiences.
Disciplined Capital Allocation
Consistent reinvestment into infrastructure, technology and capacity building ahead of demand.
Growth Funding through Internal Accruals
Growth Initiatives funded through internal accruals, ensuring financial strength and stability.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating Margin | 8.1% in FY26 | Sustained or improving operating margins as the company scales its apparel ODM business. |
| Capacity Utilization | Currently operating 6 plants | Utilization rates of existing and newly upgraded/added capacity to drive efficiency and revenue. |
| Product Line Expansion | Serving 40% of a fashion store requirements | Progress towards scaling to 70%+ through category expansion and new customer acquisition. |
| Working Capital Efficiency | Inventory days 102, Debtor cycle 50 days in FY26 | Continued optimization of working capital metrics to enhance cash conversion and financial agility. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
77Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 83rd percentile of the scored universe and 87th percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
83rd percentile
overall median 67 · Consumer: 87th pctile, median 66 · Small: 86th pctile, median 66
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
80
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 58.3%.
- ▸Promoter pledge is zero.
- ▸5 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bella Casa Fashion & Retail Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Sep - Newspaper Publication for Notice of the 30th Annual General Meeting of the Company, e-voting instruction and related dates.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Aug - Newspaper Publication in the newspaper dated August 15, 2026 for the unaudited financial results of the quarter ended June 30, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Aug - Newspaper Publication regarding notice to transfer unclaimed dividends to IEPF authority
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 13 Aug - Q1 FY27 revenue rose 33% to ₹120 crore; EBITDA ₹5.9 crore, PAT ₹2.7 crore.
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
AnnouncementMay 2026
May 2026 · Constitution Of The Management Committee 26 May - Board constituted a new Management Committee on May 26, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 May
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 May - Bella Casa reported FY26 revenue ₹416 crore, PAT ₹20 crore, and ₹46 crore capex.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.