Bharat Rasayan Ltd

Bharat Rasayan Ltd

₹ 8,480 -0.55%
28 Mar - 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 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]

  • Market Cap 3,524 Cr.
  • Current Price 8,480
  • High / Low 10,599 / 8,333
  • Stock P/E 57.2
  • Book Value 2,180
  • Dividend Yield 0.02 %
  • ROCE 19.8 %
  • ROE 15.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
222 270 252 269 335 445 327 292 309 306 239 263 233
171 205 194 229 265 359 276 256 260 249 234 250 207
Operating Profit 51 65 58 40 70 86 51 36 49 57 6 13 26
OPM % 23% 24% 23% 15% 21% 19% 16% 12% 16% 19% 2% 5% 11%
0 3 3 3 -0 7 8 3 6 -3 9 4 4
Interest -1 2 1 1 2 3 2 1 2 1 0 1 1
Depreciation 7 7 6 6 7 7 6 7 7 6 6 6 7
Profit before tax 45 60 53 36 61 83 51 31 46 46 8 10 22
Tax % 22% 23% 26% 26% 25% 23% 26% 26% 27% 34% 8% 39% 29%
35 47 39 26 46 65 38 23 34 30 7 6 15
EPS in Rs 82.66 110.13 95.01 63.70 110.41 155.34 90.63 55.18 81.27 72.80 17.06 14.44 36.84
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
989 1,213 1,091 1,301 1,234 1,041
802 983 852 1,050 1,043 940
Operating Profit 188 230 240 250 191 101
OPM % 19% 19% 22% 19% 16% 10%
1 14 6 16 15 13
Interest 16 16 4 7 6 3
Depreciation 17 22 26 25 26 26
Profit before tax 155 205 215 234 174 85
Tax % 28% 23% 24% 25% 28%
112 158 164 176 125 59
EPS in Rs 262.48 371.03 385.69 423.51 299.88 141.14
Dividend Payout % 1% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 1%
TTM: -24%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -7%
TTM: -62%
Stock Price CAGR
10 Years: 39%
5 Years: 16%
3 Years: -3%
1 Year: -6%
Return on Equity
10 Years: %
5 Years: %
3 Years: 21%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4 4 4 4 4 4
Reserves 405 560 723 766 889 902
247 94 58 174 28 70
100 94 122 142 152 170
Total Liabilities 756 752 908 1,086 1,074 1,145
150 203 191 228 225 216
CWIP 35 18 18 11 11 87
Investments 0 9 150 43 67 141
570 522 549 803 771 700
Total Assets 756 752 908 1,086 1,074 1,145

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-52 263 170 -65 213
-46 -53 -149 64 -43
102 -169 -40 -25 -152
Net Cash Flow 4 40 -19 -26 18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 103 75 99 130 96
Inventory Days 112 70 90 120 141
Days Payable 24 17 33 30 33
Cash Conversion Cycle 191 128 156 221 204
Working Capital Days 173 116 134 185 173
ROCE % 34% 31% 28% 20%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.83% 75.05% 75.05% 75.05% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99% 74.99%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.53% 0.39% 0.34% 0.35% 0.35% 0.34%
1.16% 1.72% 2.12% 2.28% 2.84% 2.89% 2.57% 2.60% 2.57% 2.57% 2.57% 2.57%
24.01% 23.22% 22.82% 22.67% 22.17% 22.11% 21.91% 22.02% 22.10% 22.09% 22.09% 22.09%
No. of Shareholders 31,17817,50718,50319,31716,74717,38416,37517,30417,23416,36116,05915,398

* 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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