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 ₹ 3,708 Cr.
- Current Price ₹ 2,231
- High / Low ₹ 3,030 / 2,200
- Stock P/E 25.8
- Book Value ₹ 721
- Dividend Yield 0.02 %
- ROCE 15.5 %
- ROE 12.4 %
- Face Value ₹ 5.00
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 12.4% over last 3 years.
- Dividend payout has been low at 0.53% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 989 | 1,213 | 1,091 | 1,301 | 1,234 | 1,044 | 1,171 | 1,226 | |
| 802 | 983 | 852 | 1,050 | 1,043 | 926 | 996 | 1,045 | |
| Operating Profit | 188 | 230 | 240 | 250 | 191 | 118 | 175 | 181 |
| OPM % | 19% | 19% | 22% | 19% | 15% | 11% | 15% | 15% |
| 1 | 14 | 6 | 16 | 15 | 35 | 42 | 27 | |
| Interest | 16 | 16 | 4 | 7 | 6 | 3 | 5 | 5 |
| Depreciation | 17 | 22 | 26 | 25 | 26 | 26 | 27 | 27 |
| Profit before tax | 155 | 205 | 215 | 234 | 174 | 123 | 185 | 176 |
| Tax % | 28% | 23% | 24% | 25% | 28% | 23% | 24% | |
| 112 | 158 | 164 | 176 | 125 | 96 | 141 | 133 | |
| EPS in Rs | 65.60 | 92.73 | 96.39 | 106.01 | 75.07 | 57.54 | 84.89 | 80.25 |
| Dividend Payout % | 1% | 0% | 0% | 0% | 0% | 1% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -1% |
| 3 Years: | -3% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -4% |
| 3 Years: | -9% |
| TTM: | -9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | -2% |
| 3 Years: | -3% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 12% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 405 | 560 | 723 | 766 | 889 | 984 | 1,126 | 1,193 |
| 247 | 94 | 58 | 174 | 28 | 80 | 85 | 90 | |
| 100 | 94 | 122 | 142 | 152 | 129 | 193 | 168 | |
| Total Liabilities | 756 | 752 | 908 | 1,086 | 1,074 | 1,197 | 1,408 | 1,456 |
| 150 | 203 | 191 | 228 | 225 | 230 | 230 | 223 | |
| CWIP | 35 | 18 | 18 | 11 | 11 | 6 | 15 | 25 |
| Investments | 0 | 9 | 150 | 43 | 67 | 143 | 298 | 298 |
| 570 | 522 | 549 | 803 | 771 | 818 | 865 | 910 | |
| Total Assets | 756 | 752 | 908 | 1,086 | 1,074 | 1,197 | 1,408 | 1,456 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -52 | 263 | 170 | -65 | 213 | 41 | 172 | |
| -46 | -53 | -149 | 64 | -43 | -76 | -148 | |
| 102 | -169 | -40 | -25 | -152 | 49 | -1 | |
| Net Cash Flow | 4 | 40 | -19 | -26 | 18 | 14 | 23 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 103 | 75 | 99 | 130 | 96 | 138 | 131 |
| Inventory Days | 112 | 70 | 90 | 120 | 141 | 135 | 136 |
| Days Payable | 24 | 17 | 33 | 30 | 33 | 37 | 67 |
| Cash Conversion Cycle | 191 | 128 | 156 | 221 | 204 | 236 | 200 |
| Working Capital Days | 96 | 94 | 114 | 136 | 165 | 199 | 170 |
| ROCE % | 34% | 31% | 28% | 20% | 12% | 16% |
Documents
Announcements
- Closure of Trading Window 26 Dec
-
Allotment of Bonus Equity Shares
15 Dec - Allotted 83,10,536 bonus shares (1:1) on Dec 15, 2025; record date Dec 12, 2025; post-paid capital ₹8,31,05,360.
-
Fixes Record Date for Stock Split & Bonus Issue
3 Dec - Record date Dec 12, 2025: 2-for-1 stock split and 1:1 bonus up to 83,10,536 shares.
- Outcome of Board Meeting 3 Dec
- Details of Voting Results of the Extra Ordinary General Meeting - Regulation 44(3) of the SEBI (LODR) Regulations, 2015 20 Nov 2025
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
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Financial Year 2019
from web
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Financial Year 2018
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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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]