Bharat Rasayan Ltd

Bharat Rasayan Ltd

₹ 10,437 0.34%
01 Dec - close price
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]

  • Market Cap 4,337 Cr.
  • Current Price 10,437
  • High / Low 12,121 / 8,798
  • Stock P/E 30.2
  • Book Value 2,881
  • Dividend Yield 0.01 %
  • ROCE 15.5 %
  • ROE 12.4 %
  • Face Value 10.0

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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
292 309 306 239 263 233 310 282 328 256 307 377 286
256 260 249 234 250 207 240 244 281 215 270 308 253
Operating Profit 36 49 56 6 13 26 69 38 47 42 37 69 33
OPM % 12% 16% 18% 2% 5% 11% 22% 14% 14% 16% 12% 18% 12%
3 6 -3 9 4 4 22 22 7 18 6 -8 11
Interest 1 2 1 0 1 1 1 1 1 1 1 1 1
Depreciation 7 7 6 6 6 7 6 6 6 7 7 6 6
Profit before tax 31 46 46 8 10 22 84 53 46 52 35 54 36
Tax % 26% 27% 34% 8% 39% 29% 20% 19% 30% 21% 27% 26% 23%
23 34 30 7 6 15 67 43 32 41 25 40 28
EPS in Rs 55.18 81.27 72.80 17.06 14.44 36.84 161.50 103.77 77.35 97.54 60.48 95.44 67.10
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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 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 262.48 371.03 385.69 423.51 299.88 229.85 339.13 320.56
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: 26%
5 Years: 2%
3 Years: 1%
1 Year: -11%
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%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99%
0.39% 0.34% 0.35% 0.35% 0.34% 0.34% 0.35% 0.46% 0.45% 0.49% 0.56% 0.47%
2.60% 2.57% 2.57% 2.57% 2.57% 2.57% 2.59% 2.64% 2.60% 2.75% 2.74% 2.75%
22.02% 22.10% 22.09% 22.09% 22.09% 22.09% 22.07% 21.90% 21.96% 21.77% 21.71% 21.79%
No. of Shareholders 17,30417,23416,36116,05915,39814,66715,15615,88915,85715,03615,66815,388

* 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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