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 ₹ 3,984 Cr.
- Current Price ₹ 9,588
- High / Low ₹ 14,400 / 8,280
- Stock P/E 24.0
- Book Value ₹ 2,004
- Dividend Yield 0.02 %
- ROCE 28.4 %
- ROE 24.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.9%
- Company's median sales growth is 22.6% of last 10 years
Cons
- Debtor days have increased from 101 to 130 days.
* 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
Sector: Agro Chemicals Industry: Pesticides / Agrochemicals - Indian
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
94 | 142 | 185 | 360 | 438 | 451 | 618 | 792 | 989 | 1,213 | 1,091 | 1,301 | 1,373 | |
90 | 125 | 159 | 296 | 355 | 370 | 508 | 634 | 802 | 983 | 851 | 1,045 | 1,145 | |
Operating Profit | 3 | 17 | 26 | 64 | 82 | 81 | 111 | 159 | 188 | 230 | 240 | 255 | 228 |
OPM % | 4% | 12% | 14% | 18% | 19% | 18% | 18% | 20% | 19% | 19% | 22% | 20% | 17% |
7 | -0 | 0 | 1 | 1 | 1 | 2 | 4 | 1 | 14 | 6 | 12 | 21 | |
Interest | 0 | 1 | 5 | 17 | 18 | 13 | 12 | 12 | 16 | 16 | 4 | 7 | 7 |
Depreciation | 2 | 2 | 7 | 18 | 18 | 17 | 16 | 16 | 17 | 22 | 26 | 25 | 26 |
Profit before tax | 8 | 14 | 14 | 30 | 48 | 52 | 84 | 135 | 155 | 205 | 216 | 235 | 216 |
Tax % | 27% | 28% | 32% | 33% | 34% | 34% | 35% | 27% | 28% | 23% | 24% | 25% | |
Net Profit | 6 | 10 | 10 | 20 | 32 | 34 | 55 | 98 | 112 | 158 | 164 | 177 | 163 |
EPS in Rs | 13.86 | 23.14 | 22.57 | 47.43 | 74.73 | 79.74 | 128.35 | 231.39 | 262.48 | 371.03 | 387.11 | 426.27 | 391.70 |
Dividend Payout % | 9% | 5% | 0% | 2% | 2% | 2% | 1% | 1% | 1% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 25% |
5 Years: | 16% |
3 Years: | 10% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | 33% |
5 Years: | 27% |
3 Years: | 17% |
TTM: | 3% |
Stock Price CAGR | |
---|---|
10 Years: | 55% |
5 Years: | 17% |
3 Years: | 25% |
1 Year: | -23% |
Return on Equity | |
---|---|
10 Years: | 29% |
5 Years: | 29% |
3 Years: | 27% |
Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |
Reserves | 39 | 49 | 58 | 78 | 109 | 142 | 196 | 294 | 405 | 560 | 724 | 768 | 829 |
8 | 39 | 131 | 143 | 140 | 111 | 115 | 128 | 247 | 94 | 58 | 174 | 114 | |
13 | 34 | 53 | 82 | 82 | 69 | 54 | 77 | 100 | 94 | 122 | 146 | 121 | |
Total Liabilities | 65 | 126 | 246 | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,092 | 1,068 |
20 | 16 | 135 | 142 | 137 | 136 | 131 | 148 | 150 | 203 | 191 | 228 | 216 | |
CWIP | 3 | 48 | 0 | 1 | 2 | 1 | 1 | 7 | 35 | 18 | 18 | 11 | 16 |
Investments | 1 | 1 | 0 | 0 | 30 | 20 | 0 | 0 | 0 | 9 | 151 | 45 | 71 |
41 | 60 | 111 | 164 | 167 | 169 | 237 | 349 | 570 | 522 | 549 | 807 | 765 | |
Total Assets | 65 | 126 | 246 | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,092 | 1,068 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
10 | 13 | -8 | 29 | 60 | 47 | 16 | 29 | -52 | 263 | 170 | -65 | |
-7 | -42 | -77 | -25 | -41 | -5 | 8 | -31 | -46 | -53 | -149 | 64 | |
-5 | 30 | 87 | -3 | -19 | -43 | -24 | 2 | 102 | -169 | -40 | -25 | |
Net Cash Flow | -2 | 1 | 3 | 1 | -0 | -1 | -0 | 0 | 4 | 40 | -19 | -26 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 62 | 77 | 89 | 61 | 66 | 71 | 71 | 102 | 103 | 75 | 99 | 130 |
Inventory Days | 68 | 65 | 108 | 105 | 73 | 71 | 75 | 66 | 112 | 70 | 90 | 120 |
Days Payable | 41 | 31 | 56 | 58 | 48 | 32 | 17 | 25 | 24 | 17 | 33 | 30 |
Cash Conversion Cycle | 89 | 111 | 141 | 108 | 91 | 110 | 129 | 143 | 191 | 128 | 156 | 221 |
Working Capital Days | 109 | 68 | 117 | 86 | 75 | 86 | 110 | 127 | 173 | 116 | 134 | 185 |
ROCE % | 10% | 21% | 14% | 22% | 27% | 25% | 34% | 39% | 32% | 34% | 31% | 28% |
Documents
Announcements
- Standalone & Consolidated Financial Results, Limited Review Report for December 31, 2022 7 Feb
- Board Meeting Intimation for Results & Closure of Trading Window 21 Jan
- Revised Standalone & Consolidated Financial Results, Limited Review Report for September 30, 2022 23 Nov 2022
- Standalone & Consolidated Financial Results, Limited Review Report for September 30, 2022 16 Nov 2022
- Outcome of Board Meeting 27 Sep 2022
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]