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 ₹ 3,042 Cr.
- Current Price ₹ 1,830
- High / Low ₹ 3,030 / 1,531
- Stock P/E 21.9
- Book Value ₹ 708
- Dividend Yield 0.02 %
- ROCE 14.3 %
- ROE 11.1 %
- 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 11.6% over last 3 years.
- Dividend payout has been low at 0.58% 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 360 | 438 | 451 | 618 | 792 | 989 | 1,213 | 1,091 | 1,301 | 1,234 | 1,044 | 1,171 | 1,226 | |
| 296 | 355 | 370 | 508 | 634 | 802 | 983 | 851 | 1,049 | 1,037 | 926 | 996 | 1,038 | |
| Operating Profit | 64 | 82 | 81 | 111 | 159 | 188 | 230 | 240 | 252 | 197 | 118 | 175 | 188 |
| OPM % | 18% | 19% | 18% | 18% | 20% | 19% | 19% | 22% | 19% | 16% | 11% | 15% | 15% |
| 1 | 1 | 1 | 2 | 4 | 1 | 14 | 6 | 16 | 15 | 21 | 26 | 15 | |
| Interest | 17 | 18 | 13 | 12 | 12 | 16 | 16 | 4 | 7 | 6 | 3 | 5 | 5 |
| Depreciation | 18 | 18 | 17 | 16 | 16 | 17 | 22 | 26 | 25 | 26 | 26 | 27 | 27 |
| Profit before tax | 30 | 48 | 52 | 84 | 135 | 155 | 205 | 216 | 235 | 180 | 109 | 169 | 171 |
| Tax % | 33% | 34% | 34% | 35% | 27% | 28% | 23% | 24% | 25% | 27% | 25% | 26% | |
| 20 | 32 | 34 | 55 | 98 | 112 | 158 | 164 | 177 | 131 | 82 | 125 | 128 | |
| EPS in Rs | 11.85 | 18.68 | 19.93 | 32.08 | 57.83 | 65.60 | 92.73 | 96.75 | 106.70 | 78.81 | 49.16 | 75.36 | 77.09 |
| Dividend Payout % | 2% | 2% | 2% | 1% | 1% | 1% | 0% | 0% | 0% | 0% | 1% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | -1% |
| 3 Years: | -3% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | -6% |
| 3 Years: | -13% |
| TTM: | -1% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | -6% |
| 3 Years: | -7% |
| 1 Year: | -28% |
| Return on Equity | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 16% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | 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 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 78 | 109 | 142 | 196 | 294 | 405 | 560 | 724 | 768 | 897 | 978 | 1,102 | 1,172 |
| 143 | 140 | 111 | 115 | 128 | 247 | 94 | 58 | 174 | 28 | 80 | 85 | 90 | |
| 82 | 82 | 69 | 54 | 77 | 100 | 94 | 122 | 142 | 152 | 129 | 193 | 168 | |
| Total Liabilities | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,087 | 1,082 | 1,192 | 1,385 | 1,435 |
| 142 | 137 | 136 | 131 | 148 | 150 | 203 | 191 | 228 | 225 | 230 | 230 | 223 | |
| CWIP | 1 | 2 | 1 | 1 | 7 | 35 | 18 | 18 | 11 | 11 | 6 | 15 | 25 |
| Investments | 0 | 30 | 20 | 0 | 0 | 0 | 9 | 151 | 45 | 75 | 137 | 275 | 276 |
| 164 | 167 | 169 | 237 | 349 | 570 | 522 | 549 | 803 | 771 | 818 | 865 | 910 | |
| Total Assets | 307 | 335 | 326 | 369 | 504 | 756 | 752 | 908 | 1,087 | 1,082 | 1,192 | 1,385 | 1,435 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 29 | 60 | 47 | 16 | 29 | -52 | 263 | 170 | -65 | 213 | 41 | 172 | |
| -25 | -41 | -5 | 8 | -31 | -46 | -53 | -149 | 64 | -43 | -76 | -148 | |
| -3 | -19 | -43 | -24 | 2 | 102 | -169 | -40 | -25 | -152 | 49 | -1 | |
| Net Cash Flow | 1 | -0 | -1 | -0 | 0 | 4 | 40 | -19 | -26 | 18 | 14 | 23 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 61 | 66 | 71 | 71 | 102 | 103 | 75 | 99 | 130 | 96 | 138 | 131 |
| Inventory Days | 105 | 73 | 71 | 75 | 66 | 112 | 70 | 90 | 120 | 141 | 135 | 136 |
| Days Payable | 58 | 48 | 32 | 17 | 25 | 24 | 17 | 33 | 30 | 33 | 37 | 67 |
| Cash Conversion Cycle | 108 | 91 | 110 | 129 | 143 | 191 | 128 | 156 | 221 | 204 | 236 | 200 |
| Working Capital Days | 34 | 14 | 32 | 66 | 87 | 96 | 94 | 114 | 136 | 165 | 199 | 170 |
| ROCE % | 22% | 27% | 25% | 34% | 39% | 32% | 34% | 31% | 28% | 20% | 11% | 14% |
Documents
Announcements
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Board Meeting Intimation for Results & Closure of Trading Window
2d - Board meeting on 12 Feb 2026 to approve Q3/9M results; trading window closed Jan30–Feb14.
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Clarification sought from Bharat Rasayan Ltd
27 Jan - Exchange has sought clarification from Bharat Rasayan Ltd on January 27, 2026 with reference to significant movement in price, in order to ensure that investors …
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Outcome of Board Meeting
19 Jan - Rajender Prasad Gupta re-designated Executive to Non‑Executive Non‑Independent Director effective 19 Jan 2026, Bharat Rasayan.
- Closure of Trading Window 26 Dec 2025
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Allotment of Bonus Equity Shares
15 Dec 2025 - Allotted 83,10,536 bonus shares (1:1) on Dec 15, 2025; record date Dec 12, 2025; post-paid capital ₹8,31,05,360.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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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]