Bharat Rasayan Ltd

About

Bharat Rasayan Limited (BRL) incorporated in 1985, is engaged primarily in the manufacturing of technical grade insecticides & pesticides, used for manufacturing of agrochemical formulations

Key Points

2 other group companies, both unlisted & promoter held - Bharat Insecticides Ltd. (manufacturing of formulations) and BR Agrotech Ltd. (packaging & distribution)

See full details
  • Market Cap 5,201 Cr.
  • Current Price 12,237
  • High / Low 15,132 / 8,500
  • Stock P/E 32.4
  • Book Value 1,713
  • Dividend Yield 0.01 %
  • ROCE 30.7 %
  • ROE 25.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 37.34% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.49%
  • Company's median sales growth is 24.86% of last 10 years

Cons

  • Stock is trading at 7.14 times its book value
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
285 190 272 354 366 224 271 282 318 222 270 252
226 150 224 284 299 181 223 216 261 171 204 194
Operating Profit 59 39 48 71 67 43 48 65 58 51 66 58
OPM % 21% 21% 18% 20% 18% 19% 18% 23% 18% 23% 24% 23%
Other Income 1 -0 -1 1 3 2 8 4 -2 0 3 3
Interest 4 4 5 5 4 4 3 2 1 -1 2 1
Depreciation 4 4 4 4 4 7 7 6 7 7 7 6
Profit before tax 51 31 38 63 61 35 46 61 48 45 61 54
Tax % 30% 31% 22% 34% 11% 28% 22% 24% 27% 22% 22% 26%
Net Profit 36 21 29 42 55 25 36 47 35 35 47 40
EPS in Rs 84.24 50.25 69.22 98.22 128.56 59.01 85.25 109.92 83.13 82.92 111.14 93.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
99 94 142 185 360 438 451 618 792 989 1,213 1,091 1,062
93 90 125 159 296 355 370 508 634 802 983 851 830
Operating Profit 6 3 17 26 64 82 81 111 159 188 230 240 232
OPM % 6% 4% 12% 14% 18% 19% 18% 18% 20% 19% 19% 22% 22%
Other Income 4 7 -0 0 1 1 1 2 4 1 14 6 5
Interest 0 0 1 5 17 18 13 12 12 16 16 4 3
Depreciation 1 2 2 7 18 18 17 16 16 17 22 26 26
Profit before tax 9 8 14 14 30 48 52 84 135 155 205 216 208
Tax % 33% 27% 28% 32% 33% 34% 34% 35% 27% 28% 23% 24%
Net Profit 6 6 10 10 20 32 34 55 98 112 158 164 158
EPS in Rs 13.67 13.86 23.14 22.57 47.43 74.73 79.74 128.35 231.39 262.48 371.03 387.11 370.94
Dividend Payout % 13% 9% 5% 0% 2% 2% 2% 1% 1% 1% 0% 0%
Compounded Sales Growth
10 Years:28%
5 Years:19%
3 Years:11%
TTM:-7%
Compounded Profit Growth
10 Years:47%
5 Years:37%
3 Years:19%
TTM:-1%
Stock Price CAGR
10 Years:61%
5 Years:46%
3 Years:25%
1 Year:41%
Return on Equity
10 Years:30%
5 Years:31%
3 Years:29%
Last Year:26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4 4 4 4 4 4 4 4 4 4 4 4
Reserves 39 39 49 58 78 109 142 196 294 405 560 724
Borrowings 4 8 39 131 143 140 111 115 128 247 94 58
14 13 34 53 82 82 69 54 77 100 94 122
Total Liabilities 60 65 126 246 307 335 326 369 504 756 752 908
6 20 16 135 142 137 136 131 148 150 203 191
CWIP 0 3 48 0 1 2 1 1 7 35 18 18
Investments 11 1 1 0 0 30 20 0 0 0 9 151
43 41 60 111 164 167 169 237 349 570 522 549
Total Assets 60 65 126 246 307 335 326 369 504 756 752 908

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
19 10 13 -8 29 60 47 16 29 -52 263 170
-8 -7 -42 -77 -25 -41 -5 8 -31 -46 -53 -149
-10 -5 30 87 -3 -19 -43 -24 2 102 -169 -40
Net Cash Flow 1 -2 1 3 1 -0 -1 -0 0 4 40 -19

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 62 62 77 89 61 66 71 71 102 103 75 99
Inventory Days 70 68 65 108 105 73 71 75 66 112 70 90
Days Payable 50 41 31 56 58 48 32 17 25 24 17 33
Cash Conversion Cycle 82 89 111 141 108 91 110 129 143 191 128 156
Working Capital Days 104 109 68 117 86 75 86 110 127 173 116 134
ROCE % 19% 10% 21% 14% 22% 27% 25% 34% 39% 32% 34% 31%

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

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