BL KASHYAP & SONSB.L. Kashyap & Sons Ltd.NSE:BLKASHYAPTechnicalAnalystSucritB L Kashyap & Sons Ltd. (NSE: BLKASHYAP) is a leading construction and engineering company, incorporated in 1989. It undertakes residential, commercial, retail, and institutional projects across India. Promoter: Kashyap Family (Promoter Group) – 68.73% holding (Dec 2025) FY22–FY26 Snapshot Revenue Growth: CAGR ~12% over FY22–FY26, driven by real estate and infrastructure projects. → Neutral Net Profit: FY26 PAT ~₹42 Cr, showing gradual recovery from earlier losses. → Good Operating Margin: Maintained ~8–10% range, reflecting moderate efficiency. → Neutral Equity Capital: Stable, no major dilution. → Good Dividend Policy: No major payouts, profits reinvested into operations. → Neutral Asset Building: Expansion of project portfolio in Tier‑1 and Tier‑2 cities. → Good Sales: FY26 revenue crossed ₹2,000 Cr, supported by construction demand. → Good Expense: High raw material and labor costs continue to pressure margins. → Bad EPS: ~₹3.8 in FY26, reflecting modest improvement. → Neutral Institutional Interest & Ownership Trends Largest Promoter: Kashyap Family (Promoter Group) – 68.73% Largest FII: Vanguard Emerging Markets Fund – 2.12% Largest DII: LIC Mutual Fund – 1.05% Strategic Moves & Innovations Focus on large‑scale residential and commercial projects. Expansion into infrastructure and institutional construction. Adoption of modern construction technologies for efficiency. Strengthening presence in Tier‑2 cities to capture demand. Cash Flow & Balance Sheet Strength Cash flows improving with project completions. Debt levels remain moderate, tied to working capital needs. Profitability recovery supports balance sheet stability. Risk Factors High dependence on real estate cycles. Margin sensitivity to raw material and labor costs. Competition from larger construction firms (L&T, Shapoorji Pallonji). Regulatory and approval delays in projects. Investor Takeaway B L Kashyap & Sons Ltd. is a mid‑tier construction company with strong promoter backing and improving profitability. While revenue growth and asset building are positive, high expenses and modest EPS growth keep the outlook Neutral to cautiously positive.