Bharat Rasayan Ltd

₹ 1,489 2.66%

27 May - close price

bharatgroup.co.in BSE: 590021 NSE: BHARATRAS

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 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]

Website BSE NSE

Market Cap ₹ 2,474 Cr.
Current Price ₹ 1,489
High / Low ₹ 3,030 / 1,202
Stock P/E 15.5
Book Value ₹ 767
Dividend Yield 0.03 %
ROCE 17.4 %
ROE 13.3 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

The company has delivered a poor sales growth of 2.62% over past five years.
Company has a low return on equity of 11.9% over last 3 years.
Dividend payout has been low at 0.37% 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

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	306	239	263	233	310	282	328	256	307	377	286	270	308
	249	234	250	207	240	244	281	215	270	308	253	228	259
Operating Profit	56	6	13	26	69	38	47	42	37	69	33	43	49
OPM %	18%	2%	5%	11%	22%	14%	14%	16%	12%	18%	12%	16%	16%
	-3	9	4	4	22	22	7	18	6	-8	11	17	10
Interest	1	0	1	1	1	1	1	1	1	1	1	1	1
Depreciation	6	6	6	7	6	6	6	7	7	6	6	7	7
Profit before tax	46	8	10	22	84	53	46	52	35	54	36	52	51
Tax %	34%	8%	39%	29%	20%	19%	30%	21%	27%	26%	23%	23%	26%
	30	7	6	15	67	43	32	41	25	40	28	40	38
EPS in Rs	18.22	4.27	3.61	9.22	40.43	25.98	19.36	24.42	15.14	23.89	16.80	24.08	22.95
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	989	1,213	1,091	1,301	1,234	1,044	1,171	1,242
	802	983	852	1,050	1,043	926	996	1,043
Operating Profit	188	230	240	250	191	118	175	199
OPM %	19%	19%	22%	19%	15%	11%	15%	16%
	1	14	6	16	15	35	42	25
Interest	16	16	4	7	6	3	5	5
Depreciation	17	22	26	25	26	26	27	26
Profit before tax	155	205	215	234	174	123	185	193
Tax %	28%	23%	24%	25%	28%	23%	24%	25%
	112	158	164	176	125	96	141	146
EPS in Rs	65.60	92.73	96.39	106.01	75.07	57.54	84.89	87.67
Dividend Payout %	1%	0%	0%	0%	0%	1%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	3%
3 Years:	0%
TTM:	6%

Compounded Profit Growth
10 Years:	%
5 Years:	-1%
3 Years:	8%
TTM:	22%

Stock Price CAGR
10 Years:	19%
5 Years:	-14%
3 Years:	-17%
1 Year:	-33%

Return on Equity
10 Years:	%
5 Years:	14%
3 Years:	12%
Last Year:	13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4	4	4	4	4	4	4	8
Reserves	405	560	723	766	889	984	1,126	1,266
	247	94	58	174	28	80	85	1
	100	94	122	142	152	129	193	157
Total Liabilities	756	752	908	1,086	1,074	1,197	1,408	1,433
	150	203	191	228	225	230	230	246
CWIP	35	18	18	11	11	6	15	46
Investments	0	9	150	43	67	143	298	324
	570	522	549	803	771	818	865	816
Total Assets	756	752	908	1,086	1,074	1,197	1,408	1,433

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-52	263	170	-65	213	41	172	132
	-46	-53	-149	64	-43	-76	-148	-96
	102	-169	-40	-25	-152	49	-1	-89
Net Cash Flow	4	40	-19	-26	18	14	23	-53
Free Cash Flow	-100	204	160	-121	191	14	137	59
CFO/OP	-5%	137%	92%	-3%	138%	59%	120%	88%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	103	75	99	130	96	138	131	113
Inventory Days	112	70	90	120	141	135	136	150
Days Payable	24	17	33	30	33	37	67	44
Cash Conversion Cycle	191	128	156	221	204	236	200	219
Working Capital Days	96	94	114	136	165	199	170	265
ROCE %		34%	31%	28%	20%	12%	16%	17%

Insights

In beta

Mar 2015

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Mar 2022

Mar 2023

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Geographic Reach - Number of Countries
Number ・Standalone data

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				xxx				xxx	xxx	xxx
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Installed Capacity
MTPA ・Standalone data

Export Share of Total Sales
% ・Standalone data

Formulations Share of Sales
% ・Standalone data

Intermediates Share of Sales
% ・Standalone data

Technical Grade Pesticides Share of Sales
% ・Standalone data

Number of International Registrations
Number ・Standalone data

Number of Domestic Registrations
Number ・Standalone data

Top 10 Customers Share of Income
% ・Includes some standalone data

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
	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%
	0.35%	0.35%	0.34%	0.34%	0.35%	0.46%	0.45%	0.49%	0.56%	0.47%	0.43%	0.54%
	2.57%	2.57%	2.57%	2.57%	2.59%	2.64%	2.60%	2.75%	2.74%	2.75%	2.52%	2.14%
	22.09%	22.09%	22.09%	22.09%	22.07%	21.90%	21.96%	21.77%	21.71%	21.79%	22.05%	22.33%
No. of Shareholders	16,361	16,059	15,398	14,667	15,156	15,889	15,857	15,036	15,668	15,388	21,333	21,935

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.79%	74.83%	74.83%	74.83%	74.83%	74.99%	74.99%	74.99%	74.99%	74.99%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.34%	0.34%	0.49%	0.54%
	0.02%	0.16%	0.26%	0.80%	1.16%	2.84%	2.57%	2.57%	2.75%	2.14%
	25.19%	25.02%	25.04%	24.38%	24.01%	22.17%	22.10%	22.09%	21.77%	22.33%
No. of Shareholders	5,160	6,234	8,245	8,436	31,178	16,747	17,234	14,667	15,036	21,935

* 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 Rasayan Ltd

Bharat Rasayan Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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