Bharat Rasayan Ltd

Bharat Rasayan Ltd

₹ 9,465 -0.63%
22 Apr 11:23 a.m.
About

Bharat Rasayan Ltd is engaged in manufacturing Technical Grade Pesticides and Intermediates used in the agro-chemical industry. It was incorporated in 1989.[1]

Key Points

Product Portfolio
The company manufactures a wide range of pesticides including insecticides, fungicides, herbicides, weedicides, intermediates and plant growth regulators. It caters to all the pest problems of major crops grown in India including paddy, cotton, soybean, sugarcane and other crops. [1]
It has a portfolio of over 200+ different products registered with the Central Insecticides Board and have ~100 brands.[2]

  • Market Cap 3,933 Cr.
  • Current Price 9,465
  • High / Low 10,599 / 8,333
  • Stock P/E 64.1
  • Book Value 2,188
  • Dividend Yield 0.02 %
  • ROCE 20.4 %
  • ROE 16.0 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company's median sales growth is 21.5% of last 10 years

Cons

  • The company has delivered a poor sales growth of 9.27% over past five 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
222 270 252 269 335 445 327 292 309 306 239 263 233
171 204 194 229 265 359 275 256 258 247 234 248 205
Operating Profit 51 66 58 40 70 86 52 36 52 59 6 15 28
OPM % 23% 24% 23% 15% 21% 19% 16% 12% 17% 19% 2% 6% 12%
0 3 3 3 -0 7 8 3 6 -3 2 4 4
Interest -1 2 1 1 2 3 2 1 2 1 0 1 1
Depreciation 7 7 6 6 7 7 6 7 7 6 6 6 7
Profit before tax 45 61 54 36 61 83 52 31 49 48 1 12 24
Tax % 22% 22% 26% 26% 25% 23% 25% 26% 26% 32% 46% 34% 27%
35 47 40 27 46 65 39 23 37 33 1 8 17
EPS in Rs 82.92 111.14 95.85 64.69 110.41 155.32 92.92 55.45 88.01 78.48 1.76 18.51 41.59
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
142 185 360 438 451 618 792 989 1,213 1,091 1,301 1,234 1,041
125 159 296 355 370 508 634 802 983 851 1,049 1,036 934
Operating Profit 17 26 64 82 81 111 159 188 230 240 252 198 107
OPM % 12% 14% 18% 19% 18% 18% 20% 19% 19% 22% 19% 16% 10%
-0 0 1 1 1 2 4 1 14 6 16 15 6
Interest 1 5 17 18 13 12 12 16 16 4 7 6 3
Depreciation 2 7 18 18 17 16 16 17 22 26 25 26 26
Profit before tax 14 14 30 48 52 84 135 155 205 216 235 180 85
Tax % 28% 32% 33% 34% 34% 35% 27% 28% 23% 24% 25% 27%
10 10 20 32 34 55 98 112 158 164 177 131 58
EPS in Rs 23.14 22.57 47.43 74.73 79.74 128.35 231.39 262.48 371.03 387.11 426.27 314.85 140.34
Dividend Payout % 5% 0% 2% 2% 2% 1% 1% 1% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 21%
5 Years: 9%
3 Years: 1%
TTM: -24%
Compounded Profit Growth
10 Years: 30%
5 Years: 7%
3 Years: -6%
TTM: -63%
Stock Price CAGR
10 Years: 41%
5 Years: 17%
3 Years: -1%
1 Year: 1%
Return on Equity
10 Years: 26%
5 Years: 24%
3 Years: 21%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 49 58 78 109 142 196 294 405 560 724 768 897 905
39 131 143 140 111 115 128 247 94 58 174 28 70
34 53 82 82 69 54 77 100 94 122 142 152 170
Total Liabilities 126 246 307 335 326 369 504 756 752 908 1,087 1,082 1,148
16 135 142 137 136 131 148 150 203 191 228 225 216
CWIP 48 0 1 2 1 1 7 35 18 18 11 11 87
Investments 1 0 0 30 20 0 0 0 9 151 45 75 145
60 111 164 167 169 237 349 570 522 549 803 771 700
Total Assets 126 246 307 335 326 369 504 756 752 908 1,087 1,082 1,148

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
13 -8 29 60 47 16 29 -52 263 170 -65 213
-42 -77 -25 -41 -5 8 -31 -46 -53 -149 64 -43
30 87 -3 -19 -43 -24 2 102 -169 -40 -25 -152
Net Cash Flow 1 3 1 -0 -1 -0 0 4 40 -19 -26 18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 77 89 61 66 71 71 102 103 75 99 130 96
Inventory Days 65 108 105 73 71 75 66 112 70 90 120 141
Days Payable 31 56 58 48 32 17 25 24 17 33 30 33
Cash Conversion Cycle 111 141 108 91 110 129 143 191 128 156 221 204
Working Capital Days 68 117 86 75 86 110 127 173 116 134 185 173
ROCE % 21% 14% 22% 27% 25% 34% 39% 32% 34% 31% 28% 20%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.05% 75.05% 75.05% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99%
0.00% 0.00% 0.00% 0.00% 0.00% 0.53% 0.39% 0.34% 0.35% 0.35% 0.34% 0.34%
1.72% 2.12% 2.28% 2.84% 2.89% 2.57% 2.60% 2.57% 2.57% 2.57% 2.57% 2.57%
23.22% 22.82% 22.67% 22.17% 22.11% 21.91% 22.02% 22.10% 22.09% 22.09% 22.09% 22.09%
No. of Shareholders 17,50718,50319,31716,74717,38416,37517,30417,23416,36116,05915,39814,667

* 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.

Click on the line-items to see the names of individual entities.

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