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Behari Lal EngineeringNSE:BLEL -2.64%19 Net-Net Working Capital is ₹17.35 as of Mar. 2026. GuruFocus rates NSE:BLEL with a GF Score™ of 19/100. Among 172 Steel companies, Behari Lal Engineering ranks worse than 86.05% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Behari Lal Engineering's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ₹17.35.
The industry rank for Behari Lal Engineering's Net-Net Working Capital or its related term are showing as below:
NSE:BLEL's Price-to-Net-Net-Working-Capital is ranked worse than 86.05% of 172
companies
in the Steel industry
Industry Median: 4.595
vs NSE:BLEL: 26.37
Behari Lal Engineering (NSE:BLEL) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Behari Lal Engineering Net-Net Working Capital Related Terms
Behari Lal Engineering Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Behari Lal Engineering's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Behari Lal Engineering Net-Net Working Capital Chart
Behari Lal Engineering Annual Data
Trend
Mar23
Mar24
Mar25
Mar26
Net-Net Working Capital
-0.59
10.10
14.76
17.35
Behari Lal Engineering Quarterly Data
Mar23
Mar24
Mar25
Mar26
Net-Net Working Capital
-0.59
10.10
14.76
17.35
NSE:BLEL vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, Behari Lal Engineering's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Behari Lal Engineering Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Behari Lal Engineering's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Behari Lal Engineering's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of ₹17.35 mean?
Behari Lal Engineering (NSE:BLEL) has a Net-Net Working Capital of ₹17.35 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Behari Lal Engineering According to the industry distribution chart, Behari Lal Engineering ranks #148 out of 172 companies in the Steel industry, placing it in the top 86%.
Is Behari Lal Engineering's Net-Net Working Capital too high?
Behari Lal Engineering's current Net-Net Working Capital is ₹17.35. Based on the distribution chart, Behari Lal Engineering ranks #148 out of 172 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Behari Lal Engineering has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Behari Lal Engineering's Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, Behari Lal Engineering ranks #148 out of 172 companies for Net-Net Working Capital. This places Behari Lal Engineering in the lower half of its industry. The industry median Net-Net Working Capital is 4.60. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Steel company?
The median Net-Net Working Capital among Steel companies is 4.60, based on 172 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Behari Lal Engineering For the Steel industry, the median Net-Net Working Capital is 4.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Behari Lal Engineering's current Net-Net Working Capital is ₹17.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Behari Lal Engineering stock overvalued right now?
Behari Lal Engineering (NSE:BLEL) has a current Net-Net Working Capital of ₹17.35. The current Net-Net Working Capital is ₹17.35. Behari Lal Engineering's overall GF Score™ is 19/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Behari Lal Engineering (NSE:BLEL), the current Net-Net Working Capital is ₹17.35 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Behari Lal Engineering Ltd is an integrated iron and steel manufacturing company specializing in customized engineering solutions. Its precision engineered components for critical industrial applications comprise: Metal Rolls, Engineering Castings, Alloy Steel Products, and Forging Ingots and Forged Shafts/ Blocks. The company's precision engineered products find application across diverse industries such as automobile, steel, mining, infrastructure and construction, power, aerospace and defence and cement.
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