diff --git a/lib/cli/index.js b/lib/cli/index.js
index 874194b8f9..6bd80471a0 100644
--- a/lib/cli/index.js
+++ b/lib/cli/index.js
@@ -4884,16 +4884,34 @@ export function createCppBom(path, options) {
     cmakeLikeFiles = cmakeLikeFiles.concat(cmakeFiles);
   }
   let pkgList = [];
+  let parentComponentDependencies = [];
   if (conanLockFiles.length) {
     for (const f of conanLockFiles) {
       if (DEBUG_MODE) {
         console.log(`Parsing ${f}`);
       }
       const conanLockData = readFileSync(f, { encoding: "utf-8" });
-      const dlist = parseConanLockData(conanLockData);
-      if (dlist?.length) {
-        pkgList = pkgList.concat(dlist);
+      const {
+        pkgList: conanPkgList,
+        dependencies: conanDependencies,
+        parentComponentDependencies: parentCompDeps,
+      } = parseConanLockData(conanLockData);
+
+      if (conanPkgList.length) {
+        pkgList = pkgList.concat(conanPkgList);
+      }
+
+      if (Object.keys(conanDependencies).length) {
+        dependencies = mergeDependencies(
+          dependencies,
+          Object.keys(conanDependencies).map((dependentBomRef) => ({
+            ref: dependentBomRef,
+            dependsOn: conanDependencies[dependentBomRef],
+          })),
+        );
       }
+
+      parentComponentDependencies = parentCompDeps;
     }
   } else if (conanFiles.length) {
     for (const f of conanFiles) {
@@ -5015,6 +5033,16 @@ export function createCppBom(path, options) {
     }
     options.parentComponent = parentComponent;
   }
+
+  if (parentComponent && parentComponentDependencies.length) {
+    dependencies = mergeDependencies(dependencies, [
+      {
+        ref: parentComponent["bom-ref"],
+        dependsOn: parentComponentDependencies,
+      },
+    ]);
+  }
+
   return buildBomNSData(options, pkgList, "generic", {
     src: path,
     parentComponent,
diff --git a/lib/helpers/utils.js b/lib/helpers/utils.js
index 1d53846734..19c658984b 100644
--- a/lib/helpers/utils.js
+++ b/lib/helpers/utils.js
@@ -10013,29 +10013,67 @@ export function mapConanPkgRefToPurlStringAndNameAndVersion(conanPkgRef) {
 
 export function parseConanLockData(conanLockData) {
   const pkgList = [];
+  const dependencies = {};
+  const parentComponentDependencies = [];
+
   if (!conanLockData) {
-    return pkgList;
+    return { pkgList, dependencies, parentComponentDependencies };
   }
+
   const lockFile = JSON.parse(conanLockData);
   if (
     (!lockFile || !lockFile.graph_lock || !lockFile.graph_lock.nodes) &&
     !lockFile.requires
   ) {
-    return pkgList;
+    return { pkgList, dependencies, parentComponentDependencies };
   }
+
   if (lockFile.graph_lock?.nodes) {
     const depends = lockFile.graph_lock.nodes;
+    const nodeKeyToBomRefMap = {};
+
     for (const nk of Object.keys(depends)) {
-      if (depends[nk].ref) {
-        const [purl, name, version] =
-          mapConanPkgRefToPurlStringAndNameAndVersion(depends[nk].ref);
-        if (purl !== null) {
-          pkgList.push({
-            name,
-            version,
-            purl,
-            "bom-ref": decodeURIComponent(purl),
-          });
+      if (!depends[nk].ref) continue;
+
+      const [purl, name, version] = mapConanPkgRefToPurlStringAndNameAndVersion(
+        depends[nk].ref,
+      );
+      if (purl === null) continue;
+
+      const bomRef = decodeURIComponent(purl);
+      pkgList.push({
+        name,
+        version,
+        purl,
+        "bom-ref": bomRef,
+      });
+
+      nodeKeyToBomRefMap[nk] = bomRef;
+    }
+
+    for (const nk of Object.keys(depends)) {
+      let requirementNodeKeys = [];
+      if (Array.isArray(depends[nk].requires))
+        requirementNodeKeys = requirementNodeKeys.concat(depends[nk].requires);
+      if (Array.isArray(depends[nk].build_requires))
+        requirementNodeKeys = requirementNodeKeys.concat(
+          depends[nk].build_requires,
+        );
+
+      for (const dependencyNodeKey of requirementNodeKeys) {
+        const dependencyBomRef = nodeKeyToBomRefMap[dependencyNodeKey];
+        if (!dependencyBomRef) continue;
+
+        const dependentBomRef = nodeKeyToBomRefMap[nk];
+        if (dependentBomRef) {
+          if (!(dependentBomRef in dependencies))
+            dependencies[dependentBomRef] = [];
+          if (!dependencies[dependentBomRef].includes(dependencyBomRef))
+            dependencies[dependentBomRef].push(dependencyBomRef);
+        } else if (nk === "0") {
+          // parent component for which the conan.lock was generated
+          if (!parentComponentDependencies.includes(dependencyBomRef))
+            parentComponentDependencies.push(dependencyBomRef);
         }
       }
     }
@@ -10056,7 +10094,7 @@ export function parseConanLockData(conanLockData) {
       }
     }
   }
-  return pkgList;
+  return { pkgList, dependencies, parentComponentDependencies };
 }
 
 export function parseConanData(conanData) {
diff --git a/lib/helpers/utils.poku.js b/lib/helpers/utils.poku.js
index 672916c197..90863132f6 100644
--- a/lib/helpers/utils.poku.js
+++ b/lib/helpers/utils.poku.js
@@ -2185,28 +2185,144 @@ it("parse cabal freeze", () => {
 });
 
 it("parse conan data", () => {
-  assert.deepStrictEqual(parseConanLockData(null), []);
-  let dep_list = parseConanLockData(
+  let conanLockData = parseConanLockData(null);
+  assert.deepStrictEqual(conanLockData.pkgList.length, 0);
+  assert.deepStrictEqual(Object.keys(conanLockData.dependencies).length, 0);
+  assert.deepStrictEqual(conanLockData.parentComponentDependencies.length, 0);
+  conanLockData = parseConanLockData(
     readFileSync("./test/data/conan-v1.lock", { encoding: "utf-8" }),
   );
-  assert.deepStrictEqual(dep_list.length, 3);
-  assert.deepStrictEqual(dep_list[0], {
+  assert.deepStrictEqual(conanLockData.pkgList.length, 3);
+  assert.deepStrictEqual(conanLockData.pkgList[0], {
     name: "zstd",
     version: "1.4.4",
     "bom-ref": "pkg:conan/zstd@1.4.4",
     purl: "pkg:conan/zstd@1.4.4",
   });
-  dep_list = parseConanLockData(
+  assert.deepStrictEqual(Object.keys(conanLockData.dependencies).length, 0);
+  assert.deepStrictEqual(conanLockData.parentComponentDependencies, [
+    "pkg:conan/zstd@1.4.4",
+    "pkg:conan/jerryscript@2.2.0",
+    "pkg:conan/wolfssl@4.4.0",
+  ]);
+
+  conanLockData = parseConanLockData(
+    readFileSync("./test/data/conan-v1-for-reference.lock", {
+      encoding: "utf-8",
+    }),
+  );
+  assert.deepStrictEqual(Object.keys(conanLockData.pkgList).length, 7);
+  assert.deepStrictEqual(conanLockData.pkgList[0], {
+    name: "grpc",
+    version: "1.50.1",
+    "bom-ref": "pkg:conan/grpc@1.50.1",
+    purl: "pkg:conan/grpc@1.50.1",
+  });
+  assert.deepStrictEqual(Object.keys(conanLockData.dependencies).length, 3);
+  assert.deepStrictEqual(conanLockData.dependencies["pkg:conan/grpc@1.50.1"], [
+    "pkg:conan/abseil@20230802.1",
+    "pkg:conan/protobuf@3.21.12",
+    "pkg:conan/c-ares@1.34.1",
+    "pkg:conan/openssl@3.3.2",
+    "pkg:conan/re2@20230301",
+    "pkg:conan/zlib@1.3.1",
+  ]);
+  assert.deepStrictEqual(
+    conanLockData.dependencies["pkg:conan/protobuf@3.21.12"],
+    ["pkg:conan/zlib@1.3.1"],
+  );
+  assert.deepStrictEqual(
+    conanLockData.dependencies["pkg:conan/openssl@3.3.2"],
+    ["pkg:conan/zlib@1.3.1"],
+  );
+  assert.deepStrictEqual(conanLockData.parentComponentDependencies.length, 0);
+
+  conanLockData = parseConanLockData(
+    readFileSync("./test/data/conan-v1-with-nested-deps.lock", {
+      encoding: "utf-8",
+    }),
+  );
+  assert.deepStrictEqual(conanLockData.pkgList.length, 9);
+  assert.deepStrictEqual(conanLockData.pkgList[0], {
+    name: "grpc",
+    version: "1.50.1",
+    "bom-ref": "pkg:conan/grpc@1.50.1",
+    purl: "pkg:conan/grpc@1.50.1",
+  });
+  assert.deepStrictEqual(conanLockData.pkgList[1], {
+    name: "abseil",
+    version: "20230802.1",
+    "bom-ref": "pkg:conan/abseil@20230802.1",
+    purl: "pkg:conan/abseil@20230802.1",
+  });
+  assert.deepStrictEqual(conanLockData.pkgList[2], {
+    name: "protobuf",
+    version: "3.21.12",
+    "bom-ref": "pkg:conan/protobuf@3.21.12",
+    purl: "pkg:conan/protobuf@3.21.12",
+  });
+  assert.deepStrictEqual(conanLockData.pkgList[3], {
+    name: "zlib",
+    version: "1.3.1",
+    "bom-ref": "pkg:conan/zlib@1.3.1",
+    purl: "pkg:conan/zlib@1.3.1",
+  });
+  assert.deepStrictEqual(conanLockData.pkgList[5], {
+    name: "openssl",
+    version: "3.3.2",
+    "bom-ref": "pkg:conan/openssl@3.3.2",
+    purl: "pkg:conan/openssl@3.3.2",
+  });
+  assert.deepStrictEqual(conanLockData.pkgList[8], {
+    name: "gtest",
+    version: "1.13.0",
+    "bom-ref": "pkg:conan/gtest@1.13.0",
+    purl: "pkg:conan/gtest@1.13.0",
+  });
+  assert.deepStrictEqual(Object.keys(conanLockData.dependencies).length, 3);
+  assert.deepStrictEqual(conanLockData.dependencies["pkg:conan/grpc@1.50.1"], [
+    "pkg:conan/abseil@20230802.1",
+    "pkg:conan/protobuf@3.21.12",
+    "pkg:conan/c-ares@1.34.1",
+    "pkg:conan/openssl@3.3.2",
+    "pkg:conan/re2@20230301",
+    "pkg:conan/zlib@1.3.1",
+  ]);
+  assert.deepStrictEqual(
+    conanLockData.dependencies["pkg:conan/protobuf@3.21.12"],
+    ["pkg:conan/zlib@1.3.1"],
+  );
+  assert.deepStrictEqual(
+    conanLockData.dependencies["pkg:conan/openssl@3.3.2"],
+    ["pkg:conan/zlib@1.3.1"],
+  );
+  assert.deepStrictEqual(conanLockData.parentComponentDependencies.length, 3);
+  assert.deepStrictEqual(
+    conanLockData.parentComponentDependencies[0],
+    "pkg:conan/grpc@1.50.1",
+  );
+  assert.deepStrictEqual(
+    conanLockData.parentComponentDependencies[1],
+    "pkg:conan/rapidjson@1.1.0",
+  );
+  assert.deepStrictEqual(
+    conanLockData.parentComponentDependencies[2],
+    "pkg:conan/gtest@1.13.0",
+  );
+
+  conanLockData = parseConanLockData(
     readFileSync("./test/data/conan-v2.lock", { encoding: "utf-8" }),
   );
-  assert.deepStrictEqual(dep_list.length, 2);
-  assert.deepStrictEqual(dep_list[0], {
+  assert.deepStrictEqual(conanLockData.pkgList.length, 2);
+  assert.deepStrictEqual(conanLockData.pkgList[0], {
     name: "opensta",
     version: "4.0.0",
     "bom-ref": "pkg:conan/opensta@4.0.0?rrev=765a7eed989e624c762a73291d712b14",
     purl: "pkg:conan/opensta@4.0.0?rrev=765a7eed989e624c762a73291d712b14",
   });
-  dep_list = parseConanData(
+  assert.deepStrictEqual(Object.keys(conanLockData.dependencies).length, 0);
+  assert.deepStrictEqual(conanLockData.parentComponentDependencies.length, 0);
+  let dep_list = parseConanData(
     readFileSync("./test/data/conanfile.txt", { encoding: "utf-8" }),
   );
   assert.deepStrictEqual(dep_list.length, 3);
@@ -2316,34 +2432,34 @@ it("conan package reference mapper to pURL", () => {
 });
 
 it("parse conan data where packages use custom user/channel", () => {
-  let dep_list = parseConanLockData(
+  const conanLockData = parseConanLockData(
     readFileSync("./test/data/conan.with_custom_pkg_user_channel.lock", {
       encoding: "utf-8",
     }),
   );
-  assert.deepStrictEqual(dep_list.length, 4);
-  assert.deepStrictEqual(dep_list[0], {
+  assert.deepStrictEqual(conanLockData.pkgList.length, 4);
+  assert.deepStrictEqual(conanLockData.pkgList[0], {
     name: "libcurl",
     version: "8.1.2",
     "bom-ref":
       "pkg:conan/libcurl@8.1.2?channel=stable&rrev=25215c550633ef0224152bc2c0556698&user=internal",
     purl: "pkg:conan/libcurl@8.1.2?channel=stable&rrev=25215c550633ef0224152bc2c0556698&user=internal",
   });
-  assert.deepStrictEqual(dep_list[1], {
+  assert.deepStrictEqual(conanLockData.pkgList[1], {
     name: "openssl",
     version: "3.1.0",
     "bom-ref":
       "pkg:conan/openssl@3.1.0?channel=stable&rrev=c9c6ab43aa40bafacf8b37c5948cdb1f&user=internal",
     purl: "pkg:conan/openssl@3.1.0?channel=stable&rrev=c9c6ab43aa40bafacf8b37c5948cdb1f&user=internal",
   });
-  assert.deepStrictEqual(dep_list[2], {
+  assert.deepStrictEqual(conanLockData.pkgList[2], {
     name: "zlib",
     version: "1.2.13",
     "bom-ref":
       "pkg:conan/zlib@1.2.13?channel=stable&rrev=aee6a56ff7927dc7261c55eb2db4fc5b&user=internal",
     purl: "pkg:conan/zlib@1.2.13?channel=stable&rrev=aee6a56ff7927dc7261c55eb2db4fc5b&user=internal",
   });
-  assert.deepStrictEqual(dep_list[3], {
+  assert.deepStrictEqual(conanLockData.pkgList[3], {
     name: "fmt",
     version: "10.0.0",
     purl: "pkg:conan/fmt@10.0.0?channel=stable&rrev=79e7cc169695bc058fb606f20df6bb10&user=internal",
@@ -2351,7 +2467,7 @@ it("parse conan data where packages use custom user/channel", () => {
       "pkg:conan/fmt@10.0.0?channel=stable&rrev=79e7cc169695bc058fb606f20df6bb10&user=internal",
   });
 
-  dep_list = parseConanData(
+  const dep_list = parseConanData(
     readFileSync("./test/data/conanfile.with_custom_pkg_user_channel.txt", {
       encoding: "utf-8",
     }),
diff --git a/test/data/conan-v1-for-reference.lock b/test/data/conan-v1-for-reference.lock
new file mode 100644
index 0000000000..1d5a82bfb5
--- /dev/null
+++ b/test/data/conan-v1-for-reference.lock
@@ -0,0 +1,72 @@
+{
+ "graph_lock": {
+  "nodes": {
+   "1": {
+    "ref": "grpc/1.50.1",
+    "options": "<truncated>",
+    "package_id": "0febd4ee2d7c3ac6dfc28d10eef3f352c517fde7",
+    "prev": "0",
+    "requires": [
+     "2",
+     "3",
+     "5",
+     "6",
+     "7",
+     "4"
+    ],
+    "context": "host"
+   },
+   "2": {
+    "ref": "abseil/20230802.1",
+    "options": "shared=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   },
+   "3": {
+    "ref": "protobuf/3.21.12",
+    "options": "<truncated>",
+    "package_id": "6b251a3d67c612ea01b0038b4c794e87a3c4fd88",
+    "prev": "0",
+    "requires": [
+     "4"
+    ],
+    "context": "host"
+   },
+   "4": {
+    "ref": "zlib/1.3.1",
+    "options": "shared=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   },
+   "5": {
+    "ref": "c-ares/1.34.1",
+    "options": "shared=False\ntools=True",
+    "package_id": "95ac61b4b7e9e66bcc9af3260647ab977ee3250a",
+    "prev": "0",
+    "context": "host"
+   },
+   "6": {
+    "ref": "openssl/3.3.2",
+    "options": "<truncated>",
+    "package_id": "1cf626f618fdd256dd79c53f4d6cebfc2eaa1df7",
+    "prev": "0",
+    "requires": [
+     "4"
+    ],
+    "context": "host"
+   },
+   "7": {
+    "ref": "re2/20230301",
+    "options": "shared=False\nwith_icu=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   }
+  },
+  "revisions_enabled": false
+ },
+ "version": "0.4",
+ "profile_host": "<truncated>"
+}
\ No newline at end of file
diff --git a/test/data/conan-v1-with-nested-deps.lock b/test/data/conan-v1-with-nested-deps.lock
new file mode 100644
index 0000000000..a58e7109c0
--- /dev/null
+++ b/test/data/conan-v1-with-nested-deps.lock
@@ -0,0 +1,98 @@
+{
+ "graph_lock": {
+  "nodes": {
+   "0": {
+    "options": "<truncated>",
+    "requires": [
+     "1",
+     "8"
+    ],
+    "build_requires": [
+     "9"
+    ],
+    "path": "conanfile.txt",
+    "context": "host"
+   },
+   "1": {
+    "ref": "grpc/1.50.1",
+    "options": "<truncated>",
+    "package_id": "0febd4ee2d7c3ac6dfc28d10eef3f352c517fde7",
+    "prev": "0",
+    "requires": [
+     "2",
+     "3",
+     "5",
+     "6",
+     "7",
+     "4"
+    ],
+    "context": "host"
+   },
+   "2": {
+    "ref": "abseil/20230802.1",
+    "options": "shared=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   },
+   "3": {
+    "ref": "protobuf/3.21.12",
+    "options": "<truncated>",
+    "package_id": "6b251a3d67c612ea01b0038b4c794e87a3c4fd88",
+    "prev": "0",
+    "requires": [
+     "4"
+    ],
+    "context": "host"
+   },
+   "4": {
+    "ref": "zlib/1.3.1",
+    "options": "shared=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   },
+   "5": {
+    "ref": "c-ares/1.34.1",
+    "options": "shared=False\ntools=True",
+    "package_id": "95ac61b4b7e9e66bcc9af3260647ab977ee3250a",
+    "prev": "0",
+    "context": "host"
+   },
+   "6": {
+    "ref": "openssl/3.3.2",
+    "options": "<truncated>",
+    "package_id": "1cf626f618fdd256dd79c53f4d6cebfc2eaa1df7",
+    "prev": "0",
+    "requires": [
+     "4"
+    ],
+    "context": "host"
+   },
+   "7": {
+    "ref": "re2/20230301",
+    "options": "shared=False\nwith_icu=False",
+    "package_id": "3fb49604f9c2f729b85ba3115852006824e72cab",
+    "prev": "0",
+    "context": "host"
+   },
+   "8": {
+    "ref": "rapidjson/1.1.0",
+    "options": "",
+    "package_id": "5ab84d6acfe1f23c4fae0ab88f26e3a396351ac9",
+    "prev": "0",
+    "context": "host"
+   },
+   "9": {
+    "ref": "gtest/1.13.0",
+    "options": "<truncated>",
+    "package_id": "5ad274d83035c78ba2b205e6cf4f1b317aee8e05",
+    "prev": "0",
+    "context": "host"
+   }
+  },
+  "revisions_enabled": false
+ },
+ "version": "0.4",
+ "profile_host": "<truncated>"
+}
\ No newline at end of file