Bharat Rasayan Ltd
Bharat Rasayan Ltd is engaged in manufacturing Technical Grade Pesticides and Intermediates used in the agro-chemical industry. It was incorporated in 1989.[1]
- Market Cap ₹ 4,428 Cr.
- Current Price ₹ 10,662
- High / Low ₹ 12,200 / 8,798
- Stock P/E 29.0
- Book Value ₹ 2,663
- Dividend Yield 0.01 %
- ROCE 14.3 %
- ROE 11.1 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of -0.71% over past five years.
- Company has a low return on equity of 11.6% over last 3 years.
- Dividend payout has been low at 0.58% of profits 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 Pesticides & Agrochemicals
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 360 | 438 | 451 | 618 | 792 | 989 | 1,213 | 1,091 | 1,301 | 1,234 | 1,044 | 1,171 | 1,268 | |
| 296 | 355 | 370 | 508 | 634 | 802 | 983 | 851 | 1,049 | 1,037 | 926 | 996 | 1,058 | |
| Operating Profit | 64 | 82 | 81 | 111 | 159 | 188 | 230 | 240 | 252 | 197 | 118 | 175 | 210 |
| OPM % | 18% | 19% | 18% | 18% | 20% | 19% | 19% | 22% | 19% | 16% | 11% | 15% | 17% |
| 1 | 1 | 1 | 2 | 4 | 1 | 14 | 6 | 16 | 15 | 21 | 26 | 12 | |
| Interest | 17 | 18 | 13 | 12 | 12 | 16 | 16 | 4 | 7 | 6 | 3 | 5 | 5 |
| Depreciation | 18 | 18 | 17 | 16 | 16 | 17 | 22 | 26 | 25 | 26 | 26 | 27 | 27 |
| Profit before tax | 30 | 48 | 52 | 84 | 135 | 155 | 205 | 216 | 235 | 180 | 109 | 169 | 190 |
| Tax % | 33% | 34% | 34% | 35% | 27% | 28% | 23% | 24% | 25% | 27% | 25% | 26% | |
| 20 | 32 | 34 | 55 | 98 | 112 | 158 | 164 | 177 | 131 | 82 | 125 | 142 | |
| EPS in Rs | 47.43 | 74.73 | 79.74 | 128.35 | 231.39 | 262.48 | 371.03 | 387.11 | 426.27 | 314.85 | 196.40 | 301.06 | 341.63 |
| Dividend Payout % | 2% | 2% | 2% | 1% | 1% | 1% | 0% | 0% | 0% | 0% | 1% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | -1% |
| 3 Years: | -3% |
| TTM: | 17% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | -6% |
| 3 Years: | -13% |
| TTM: | 42% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 3% |
| 3 Years: | 0% |
| 1 Year: | -4% |
| Return on Equity | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 16% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 78 | 109 | 142 | 196 | 294 | 405 | 560 | 724 | 768 | 897 | 978 | 1,102 |
| 143 | 140 | 111 | 115 | 128 | 247 | 94 | 58 | 174 | 28 | 80 | 85 | |
| 82 | 82 | 69 | 54 | 77 | 100 | 94 | 122 | 142 | 152 | 129 | 193 | |
| Total Liabilities | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,087 | 1,082 | 1,192 | 1,385 |
| 142 | 137 | 136 | 131 | 148 | 150 | 203 | 191 | 228 | 225 | 230 | 230 | |
| CWIP | 1 | 2 | 1 | 1 | 7 | 35 | 18 | 18 | 11 | 11 | 6 | 15 |
| Investments | 0 | 30 | 20 | 0 | 0 | 0 | 9 | 151 | 45 | 75 | 137 | 275 |
| 164 | 167 | 169 | 237 | 349 | 570 | 522 | 549 | 803 | 771 | 818 | 865 | |
| Total Assets | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,087 | 1,082 | 1,192 | 1,385 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 29 | 60 | 47 | 16 | 29 | -52 | 263 | 170 | -65 | 213 | 41 | 172 | |
| -25 | -41 | -5 | 8 | -31 | -46 | -53 | -149 | 64 | -43 | -76 | -148 | |
| -3 | -19 | -43 | -24 | 2 | 102 | -169 | -40 | -25 | -152 | 49 | -1 | |
| Net Cash Flow | 1 | -0 | -1 | -0 | 0 | 4 | 40 | -19 | -26 | 18 | 14 | 23 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 61 | 66 | 71 | 71 | 102 | 103 | 75 | 99 | 130 | 96 | 138 | 131 |
| Inventory Days | 105 | 73 | 71 | 75 | 66 | 112 | 70 | 90 | 120 | 141 | 135 | 136 |
| Days Payable | 58 | 48 | 32 | 17 | 25 | 24 | 17 | 33 | 30 | 33 | 37 | 67 |
| Cash Conversion Cycle | 108 | 91 | 110 | 129 | 143 | 191 | 128 | 156 | 221 | 204 | 236 | 200 |
| Working Capital Days | 34 | 14 | 32 | 66 | 87 | 96 | 94 | 114 | 136 | 165 | 199 | 170 |
| ROCE % | 22% | 27% | 25% | 34% | 39% | 32% | 34% | 31% | 28% | 20% | 11% | 14% |
Documents
Announcements
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Standalone & Consolidated Financial Results, Limited Review Report for September 30, 2025
51m - Approved Q2/H1 FY2026 unaudited results (30 Sep 2025); standalone H1 PAT ₹6,982 Lacs; insurer claim ongoing.
- Board Meeting Intimation for Results & Closure of Trading Window 1 Nov
-
EGM on November 19, 2025
28 Oct - Approve 1:2 share split (₹10 to ₹5) and 1:1 bonus issue (83,10,536 shares) Record Date Nov 12, 2025.
- Board to consider Stock Split & Bonus Issue 20 Oct
- Details of Voting Results of the 36th AGM of the Company - Regulation 44(3) of the SEBI (LODR) Regulations 22 Sep
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
from web
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Financial Year 2020
from bse
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Financial Year 2019
from web
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Financial Year 2018
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
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Financial Year 2010
from nse
Product Portfolio
The company has a leading market position in many technical and intermediate products, including Lambda Cyhalothrin Technical, Metaphenoxy Benzaldehyde, Metribuzine Technical, Thiamethoxam (Insecticides), Fipronil (Insecticides), etc. It has also added new products like Fluxametamide, Tolfenpyrad Technical, Diuron Technical, etc. Top 10 products account for 66% of total sales. [1]