MarketFriction

Bhageria Industries Ltd

NSE BHAGERIA · BSE 530803 · Dyes And Pigments
₹382.05 -6.00%
NSE close2026-10-01
52 week range127.51 - 413.50
Market cap₹1,644 Cr.
P/E22.1
ASM long-term Price band 10% Delivery 45.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales103112183113129172184158205242267284
Expenses9498168101116143153140181222236244
Operating Profit81415121428311824203140
OPM %8%13%8%10%11%16%17%12%11%8%12%14%
Other Income46453-21723-317
Interest000100010001
Depreciation888788888888
Profit before tax412108918231717152048
Tax %28%28%31%27%23%27%28%27%27%20%28%26%
Net Profit3876713171212121436
EPS in Rs0.651.911.651.401.542.963.782.752.792.753.238.23
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales238347367462414399596501495597871997
Expenses212285287337316296480447451513778883
Operating Profit2762801259810311655448493115
OPM %11%18%22%27%24%26%19%11%9%14%11%12%
Other Income2101256494167919
Interest126421131222
Depreciation3623222326293432313232
Profit before tax24656210479819521275868100
Tax %35%33%35%31%16%23%26%27%28%27%26%
Net Profit154340726662701520425074
EPS in Rs4.8213.6212.6516.4015.0814.3116.153.454.509.6911.5317.00
Dividend Payout %26%18%22%18%20%24%25%29%22%15%22%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth14%17%20%55%
Compounded Profit Growth12%-6%49%54%
Stock Price CAGR11%7%35%115%
Return on Equity11%7%6%8%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital88881122222222222222
Reserves5970257287331380430485483498535579
Borrowings171514584232127183738328
Other Liabilities40471151161011039111187116137141
Total Liabilities124139525495467526570636628673727750
Fixed Assets1823269299287331320394365348348345
CWIP0418415184508171117
Investments21332911004813242325
Other Assets8580209190155176201234241284345364
Total Assets124139525495467526570636628673727750
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity38325640137596285133453102
Cash from Investing Activity-31-27-17131-50-45-44-55-26-32-39-38
Cash from Financing Activity-29-11124-77-88-10-8-26-1-5-16-62
Net Cash Flow-22-610-6-13104-15-3-23
Free Cash Flow2620-48-35108-82327-182968
CFO/OP101%147%114%66%128%75%81%98%38%102%83%129%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days39695587506984609311511367
Inventory Days374640522557636445485132
Days Payable428157875377615841667143
Cash Conversion Cycle343438512249866696979356
Working Capital Days1929-12714217285708711810072
ROCE %70%28%24%17%29%20%18%19%4%5%9%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters71.75%71.75%71.75%71.75%71.75%71.75%71.75%71.75%71.75%71.75%71.77%71.77%
FIIs0.00%0.00%0.01%0.00%0.21%0.00%0.02%0.02%0.13%0.94%0.44%0.05%
Public28.25%28.25%28.23%28.25%28.05%28.25%28.23%28.23%28.12%27.32%27.80%28.18%
No. of Shareholders14,30614,90916,58716,19616,99216,99116,93216,71217,11319,10218,21917,139

Fundamentals

Market Cap₹ 1,644 Cr.
Current Price₹ 378
Stock P/E22.1
Book Value₹ 138
ROCE11.0 %
ROE7.77 %
Dividend Yield0.66 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)55%
Compounded Profit Growth (TTM)54%
Standalone figures.
Valuation
Market capRs 1,667 Cr
Enterprise valueRs 1,671 Cr
P/E (TTM)22.46x
Price to book2.78x
Price to sales1.67x
EV / EBITDA12.46x
EV / EBIT16.42x
EV / sales1.68x
Price to cash flow16.29x
Earnings yield4.45%
Dividend yield0.65%
P/E, 3-year average19.46x
P/B, 3-year average1.10x
P/E, 5-year average21.21x
P/B, 5-year average1.24x
Profitability
Operating margin (excl. other income)10.69%
Operating margin (incl. other income)11.73%
EBITDA margin13.44%
Pre-tax margin10.00%
Net profit margin7.44%
Net margin, latest quarter12.65%
ROE8.69%
ROCE11.68%
ROA6.81%
ROE, 3-year average6.79%
ROCE, 3-year average9.10%
ROA, 3-year average5.29%
ROE, 5-year average7.61%
ROCE, 5-year average10.19%
ROA, 5-year average5.99%
ROIC (approx.)12.49%
Tax rate25.88%
Other income / net worth1.52%
Growth
Sales growth (latest year)45.93%
Profit growth (latest year)19.00%
Sales CAGR, 3 years20.22%
Sales CAGR, 5 years16.90%
Profit CAGR, 3 years49.51%
Profit CAGR, 5 years-4.24%
Sales growth QoQ6.47%
Profit growth QoQ154.89%
Sales growth YoY (latest quarter)79.76%
Profit growth YoY (latest quarter)199.75%
Per share
EPS (TTM)Rs 17.01
EPS (latest year)Rs 11.53
EPS (latest quarter)Rs 8.23
EPS, 3-year averageRs 8.57
EPS, 5-year averageRs 9.06
Book value per shareRs 137.55
Sales per shareRs 228.54
Cash flow per shareRs 23.45
Free cash flow per shareRs 15.58
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 1.67
Dividend per share, 5-year averageRs 2.00
Dividends
Dividend payout21.69%
Dividend payout, 3-year average19.80%
Dividend payout, 5-year average22.63%
Efficiency
Asset turnover1.16x
Fixed asset turnover2.53x
Inventory turnover12.82x
Inventory days28 days
Debtor days67 days
Debtors turnover5.47x
Creditor days43 days
Cash conversion cycle56 days
Working capital days72 days
Leverage
Total debtRs 8 Cr
Cash and bankRs 5 Cr
Net debtRs 3 Cr
Debt to equity0.01x
Net debt / EBITDA0.03x
Interest coverage51.12x
Current ratio (filing 2026-03-31)2.83x
Quick ratio (filing 2026-03-31)2.32x
Trade payables (filing 2026-03-31)Rs 74 Cr
Owners' fund to total sources80.05%
Debt to assets1.11%
Cash flow
Cash from Operating Activity (latest year)Rs 102 Cr
Cash from Investing Activity (latest year)Rs -38 Cr
Cash from Financing Activity (latest year)Rs -62 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs 68 Cr
FCFE (approx.: FCF + change in debt)Rs 44 Cr
Cash from ops / profit, 5 years1.46x
Sales to cash flow8.52x
Statement figures
Net sales (TTM)Rs 997 Cr
Net sales (latest year)Rs 871 Cr
Sales (latest quarter)Rs 284 Cr
Operating profit excl. other income (latest year)Rs 93 Cr
Operating profit (latest quarter)Rs 40 Cr
Other income (TTM)Rs 19 Cr
EBITDA (TTM)Rs 134 Cr
PBDT (TTM)Rs 132 Cr
Profit before tax (TTM)Rs 100 Cr
Tax (latest year)Rs 18 Cr
Net profit (TTM)Rs 74 Cr
Net profit (latest year)Rs 50 Cr
Net profit (latest quarter)Rs 36 Cr
Depreciation (TTM)Rs 32 Cr
Depreciation (latest quarter)Rs 8 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 717 Cr
Total expenditure (latest year)Rs 778 Cr
Total income (latest year)Rs 881 Cr
Share capitalRs 22 Cr
ReservesRs 579 Cr
Shareholders' fundsRs 600 Cr
Total assetsRs 750 Cr
Net blockRs 345 Cr
Capital work in progressRs 17 Cr
InvestmentsRs 25 Cr
ReceivablesRs 159 Cr
InventoryRs 56 Cr
Other liabilitiesRs 141 Cr
Shares outstanding (crore)4.36
Ownership
Promoter holding71.77% (+0.02 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 22.5 is at the 81th percentile of its own 9.4-year range (median 14.8, low 4.6, high 53.6).
P/B 2.78 is at the 98th percentile (median 1.57).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBHAGERIANifty 50Difference
1 week+6.2%-2.8% +9.0 pts
1 month+45.2%-6.8% +51.9 pts
3 months+73.7%-7.6% +81.3 pts
6 months+197.2%+0.4% +196.8 pts
1 year+117.9%-9.9% +127.8 pts
2 years+54.6%-13.6% +68.1 pts
3 years+150.6%+14.2% +136.4 pts
5 years+36.0%+27.9% +8.1 pts

Red flags

F-score 7 of 8
lookOn NSE surveillance On NSE surveillance: ASM long-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹284 Cr +79.7% vs Jun 2025. Net profit ₹36 Cr +200.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-24Dividend - Rs 2.50 Per Share
2025-07-25Annual General Meeting/Dividend - Rs 1.50 Per Share
2024-08-23Annual General Meeting/Dividend - Re 1 Per Share
2023-09-01Annual General Meeting/Dividend - Re 1 Per Share
2022-07-21Annual General Meeting/Dividend - Rs 4 Per Share
2021-07-22 Annual General Meeting/Dividend - Rs 3.50 Per Share
2020-08-20 Annual General Meeting/Dividend - Rs 3 Per Share
2019-08-23 Annual General Meeting/Dividend - Rs 1.125 Per Share
2019-07-17 Bonus 1:10.5000
2019-01-31 Interim Dividend - Rs 3.75 Per Share
2018-07-13 Annual General Meeting / Dividend Rs 5.50 Per Share
2017-11-24 Annual General Meeting/Dividend - Rs 5/- Per Share
2016-10-26 Fv Splt Frm Rs 10 To Rs 50.5000
2016-08-05 Annual General Meeting/ Dividend -Rs 5/- Per Share
DateTypeWhat it says
2026-09-30Credit RatingCredit Rating
2026-09-22General UpdatesGeneral Updates
2026-09-21Price movementSignificant movement in price has been observed in Bhageria Industries Limited. The Exchange, in order to ensure that investors have latest relevant i...
2026-09-19General UpdatesGeneral Updates regarding trading window closure from 1 October 2026 till 48 hours after declaration of Unaudited Financial result for Quarter ended ...
2026-08-01Shareholder meetingVoting Result.change , a copy of Scrutinizer report of 37th Annual General Meeting held on Saturday, 1st August 2026. Further the Company
2026-08-01Shareholder meetingProceeding of Annual General Meeting held on Saturday, 1st August, 2026
2026-07-30General UpdatesGeneral Updates
2026-07-23General UpdatesGeneral Updates
2026-07-22Board meeting outcomeBhageria Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-16General UpdatesIntimation of Board Meeting
2026-07-10General UpdatesLetter sent to Shareholders Pursuant to Regulation 36(1)(B)of SEBI (LODR) Regulations, 2015
2026-07-10General UpdatesIntimation for publication of post advertisement of 37th Annual General Meeting of the Company
2026-07-09UpdatesNotice of 37th Annual General Meeting along with Integrated Annual Report of the Company for the Financial Year 2025-26.
2026-07-03General UpdatesIntimation in Newspaper regarding 37th Annual General Meeting.
2026-07-03Record DateRecord date for the purpose of Dividend is 24-Jul-2026.
2026-07-03General UpdatesGeneral Updates regarding intimation of book closure, AGM date & Record date
2026-06-18General UpdatesGeneral Updates regarding trading window closer
2026-06-10General UpdatesGeneral Updates regarding intimation to shareholder for transfer to IEPF in Newspaper
2026-06-09Volume querySignificant increase in volume has been observed in Bhageria Industries Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-06-09Updates. Clarification on spurt in volume
2026-06-08Price movementSignificant movement in price has been observed in Bhageria Industries Limited. The Exchange, in order to ensure that investors have latest relevant i...
2026-06-06General UpdatesGeneral Updates
2026-06-05Volume querySignificant increase in volume has been observed in Bhageria Industries Limited. The Exchange, in order to ensure that investors have latest relevant ...
2026-05-25General UpdatesGeneral Updates
2026-05-16General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Long Term Additional Surveillance Measure (Long Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03