Bharat Agri Fert & Realty Ltd

₹ 32.3 1.67%

02 Jun - close price

About

Incorporated in 1985, Bharat Agri Fert & Realty Ltd is in the business of construction and development of Residential and Commercial
Complex, Manufacture of Fertilisers and Operating a Resort^[1]

Key Points

Divisional Operations:^[1]
a) Fertilizer Division:
In FY23, BAFRL did a production of ~7,586 MT SSP and sold ~9,894 MT SSP. Due to increased cost of Prime Raw Material (i.e. Imported Rock Phosphate) and inadequate working capital limits, company’s performance was severely affected and management has approached bankers to consider enhancement of Working Capital limits, which is under process. Company has a marketing tie up with M/s Greenstar Fertilizers Limited for 25,000 MT and with its own marketing setup for 15,000 MT, company anticipate total sale of 40,000 M.T. with revenue of Rs.70 Crore.
Anchaviyo Resort(Mumbai): The company owns Anchaviyo resort in Palghar district, Wada which is built on its own land parcel of 100-120 acres. The company currently has 51 rooms which will be increased to 60 rooms by March 2024 and has plans to increase 4-5 every quarter which will increase the resort's capacity to 125 rooms. The average yearly occupancy of the resort is almost 50%-60%.
Realty Division:** The company owns a land parcel in the heart of Thane city in Majiwada where it has started developing 60-storied building. The company has already received regulatory permission till 35 floors. Each floor will have 8 flats in combination of 2 and 3 BHK. And the project is expected to be completed within 3-4 years.^[2]

Website BSE

Market Cap ₹ 171 Cr.
Current Price ₹ 32.3
High / Low ₹ 43.8 / 20.0
Stock P/E
Book Value ₹ 8.38
Dividend Yield 0.00 %
ROCE 1.50 %
ROE -10.6 %
Face Value ₹ 1.00

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Pros

Company's working capital requirements have reduced from 276 days to 61.9 days

Cons

Stock is trading at 3.86 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -2.60% over past five years.
Company has a low return on equity of -8.58% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Fertilizers & Agrochemicals Fertilizers

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	7.44	6.51	5.04	5.67	5.04	5.55	6.57	6.17	7.06	5.56	5.38	5.35	6.20
	8.62	7.54	6.07	7.07	4.25	5.32	7.09	6.54	4.47	3.83	4.48	5.77	2.06
Operating Profit	-1.18	-1.03	-1.03	-1.40	0.79	0.23	-0.52	-0.37	2.59	1.73	0.90	-0.42	4.14
OPM %	-15.86%	-15.82%	-20.44%	-24.69%	15.67%	4.14%	-7.91%	-6.00%	36.69%	31.12%	16.73%	-7.85%	66.77%
	0.70	0.70	0.36	-1.51	7.40	0.80	0.47	0.86	5.16	1.21	0.34	0.14	0.32
Interest	0.97	0.89	0.77	0.38	1.65	0.88	1.13	0.89	2.74	1.77	1.96	2.08	1.29
Depreciation	0.87	0.86	0.89	0.88	1.21	0.97	1.11	1.15	1.27	1.39	1.42	1.96	1.76
Profit before tax	-2.32	-2.08	-2.33	-4.17	5.33	-0.82	-2.29	-1.55	3.74	-0.22	-2.14	-4.32	1.41
Tax %	-3.45%	1.44%	-0.43%	1.92%	-2.63%	-93.90%	-0.87%	-33.55%	-13.90%	54.55%	-4.67%	-10.19%	12.77%
	-2.23	-2.10	-2.32	-4.25	5.47	-0.05	-2.27	-1.03	4.27	-0.34	-2.04	-3.88	1.23
EPS in Rs	-0.42	-0.40	-0.44	-0.80	1.03	-0.01	-0.43	-0.19	0.81	-0.06	-0.39	-0.73	0.23
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	57.21	51.59	43.99	33.47	45.29	22.61	25.64	23.01	29.22	22.26	25.35	22.48
	44.22	49.48	41.60	31.06	45.56	26.50	27.89	21.00	32.32	25.69	23.43	16.11
Operating Profit	12.99	2.11	2.39	2.41	-0.27	-3.89	-2.25	2.01	-3.10	-3.43	1.92	6.37
OPM %	22.71%	4.09%	5.43%	7.20%	-0.60%	-17.20%	-8.78%	8.74%	-10.61%	-15.41%	7.57%	28.34%
	1.31	0.68	1.08	1.98	1.93	1.08	0.45	3.37	1.54	6.96	7.30	2.00
Interest	0.22	0.75	1.85	1.22	2.20	1.47	1.76	2.08	3.43	2.93	5.64	7.11
Depreciation	1.89	2.19	2.60	3.00	3.08	2.68	2.32	2.73	3.32	3.84	4.50	6.52
Profit before tax	12.19	-0.15	-0.98	0.17	-3.62	-6.96	-5.88	0.57	-8.31	-3.24	-0.92	-5.26
Tax %	22.97%	40.00%	-7.14%	94.12%	-7.18%	0.00%	2.04%	10.53%	-0.72%	-1.23%	-200.00%	-4.56%
	9.40	-0.21	-0.91	0.01	-3.36	-6.96	-6.00	0.51	-8.25	-3.20	0.92	-5.03
EPS in Rs	1.78	-0.04	-0.17	0.00	-0.64	-1.32	-1.13	0.10	-1.56	-0.61	0.17	-0.95
Dividend Payout %	8.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.27%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-8%
5 Years:	-3%
3 Years:	-8%
TTM:	-11%

Compounded Profit Growth
10 Years:	%
5 Years:	3%
3 Years:	12%
TTM:	-647%

Stock Price CAGR
10 Years:	16%
5 Years:	14%
3 Years:	-34%
1 Year:	-27%

Return on Equity
10 Years:	-6%
5 Years:	-8%
3 Years:	-9%
Last Year:	-11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5.29	5.29	5.29	5.29	5.29	5.29	5.29	5.29	5.29	5.29	5.29	5.29
Reserves	71.60	71.39	71.98	70.93	67.67	60.76	55.04	55.72	47.42	44.04	45.13	39.00
	14.71	19.74	14.31	17.48	14.70	14.47	18.24	22.95	26.96	45.12	67.16	84.56
	15.36	23.69	18.30	17.40	26.88	15.82	16.34	15.74	15.91	13.44	29.20	113.24
Total Liabilities	106.96	120.11	109.88	111.10	114.54	96.34	94.91	99.70	95.58	107.89	146.78	242.09
	17.62	21.97	23.62	26.08	23.65	21.25	19.34	26.44	29.02	31.62	34.90	41.14
CWIP	3.45	0.00	0.00	0.00	0.00	0.00	7.26	0.00	0.00	0.53	7.19	30.34
Investments	0.02	0.88	0.88	0.88	0.37	0.37	0.37	0.40	0.35	0.99	0.31	0.15
	85.87	97.26	85.38	84.14	90.52	74.72	67.94	72.86	66.21	74.75	104.38	170.46
Total Assets	106.96	120.11	109.88	111.10	114.54	96.34	94.91	99.70	95.58	107.89	146.78	242.09

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-8.55	-16.18	10.41	10.31	0.65	-0.37	9.48	7.52	5.24	-14.77	-7.58	25.50
	-1.04	-4.45	-5.12	-6.99	-0.65	1.86	-7.64	-9.79	-5.74	2.18	-12.92	-35.41
	7.41	3.34	-5.27	1.22	-4.55	-1.50	-1.76	2.20	0.57	13.57	19.56	10.51
Net Cash Flow	-2.18	-17.29	0.01	4.54	-4.55	0.00	0.08	-0.07	0.08	0.99	-0.93	0.60
Free Cash Flow	-12.26	-18.78	6.19	4.86	-0.03	-0.70	1.80	-2.30	-0.67	-19.68	-21.99	-10.52
CFO/OP	-48%	-715%	441%	437%	-241%	10%	-421%	374%	-169%	426%	-378%	419%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	69.80	104.50	106.29	130.75	102.67	187.10	146.77	157.20	11.74	6.89	21.02	1.14
Inventory Days	496.06	603.84	596.06	879.73	714.97	1,253.98	920.10	2,203.70	1,607.04	4,737.09
Days Payable	90.78	200.63	164.09	246.44	358.77	321.46	285.92	543.73	339.33	553.93
Cash Conversion Cycle	475.07	507.71	538.26	764.04	458.87	1,119.62	780.94	1,817.16	1,279.45	4,190.04	21.02	1.14
Working Capital Days	153.95	246.56	282.19	215.60	180.93	367.42	175.24	207.80	155.89	399.60	366.73	61.86
ROCE %	14.85%	0.65%	0.90%	1.50%	-1.53%	-6.53%	-5.18%	3.15%	-6.12%	-6.57%	4.45%	1.50%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

SSP Production Volume
Metric Tonnes

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SSP Sales Volume
Metric Tonnes

Realty Project Saleable Area (Phase-II/Wembley)
Sq. Ft.

Resort Room Count
Rooms

Realty Units Sold (Cumulative/Project)
Units

Fertilizer Capacity Utilization
%

Realty Units Pre-booked (Wembley-24 Tower)
Units

Resort Average Yearly Occupancy
%

Total Land Bank
Acres

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	67.91%	67.91%	67.91%	67.91%	67.91%	67.91%	67.91%	67.83%	67.83%	67.83%	67.83%	67.83%
	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	32.08%	32.10%	32.09%	32.08%	32.03%	32.09%	32.08%	32.16%	32.17%	32.16%	32.16%	32.16%
No. of Shareholders	5,717	5,710	6,669	10,257	14,862	14,909	15,189	14,923	14,772	14,791	14,462	14,208

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	67.95%	67.92%	67.91%	67.91%	67.91%	67.91%	67.91%	67.91%	67.83%	67.83%
	32.05%	32.08%	32.09%	32.09%	32.09%	32.09%	32.08%	32.08%	32.16%	32.16%
No. of Shareholders	4,804	4,522	4,998	4,343	4,023	4,204	4,848	10,257	14,923	14,208

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Bharat Agri Fert & Realty Ltd

Bharat Agri Fert & Realty Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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