MarketFriction

Bharat Rasayan Ltd

NSE BHARATRAS · BSE 590021 · Pesticides & Agrochemicals
₹998.60 -0.53%
NSE close2026-10-01
52 week range998.50 - 2,987.50
Market cap₹1,673 Cr.
P/E12.0
Price band 20% Delivery 59.0%

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
Sales263233310282328256307377286270308338
Expenses248205240244273215266304253228258287
Operating Profit152869385542407333435051
OPM %6%12%22%14%17%16%13%19%12%16%16%15%
Other Income44116776-8911106
Interest111111111111
Depreciation676667766777
Profit before tax122473375441385835465248
Tax %34%27%23%27%25%27%25%25%24%26%25%24%
Net Profit81756274030284426343937
EPS in Rs4.6310.4133.6816.1424.1917.8917.1426.3015.7620.4523.5422.04
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales4516187929891,2131,0911,3011,2341,0441,1711,2401,203
Expenses3705086348029838511,0491,0379269961,0411,026
Operating Profit81111159188230240252197118175199177
OPM %18%18%20%19%19%22%19%16%11%15%16%15%
Other Income1241146161521262236
Interest13121216164763554
Depreciation171616172226252626272627
Profit before tax5284135155205216235180109169191181
Tax %34%35%27%28%23%24%25%27%25%26%25%
Net Profit34559811215816417713182125143136
EPS in Rs19.9332.0857.8365.6092.7396.75106.7078.8149.1675.3685.9981.79
Dividend Payout %2%1%1%1%0%0%0%0%1%0%1%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%3%0%-5%
Compounded Profit Growth16%-3%2%-9%
Stock Price CAGR9%-20%-24%-59%
Return on Equity19%14%10%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital444444444448
Reserves1091421962944055607247688979781,1021,240
Borrowings14011111512824794581742880851
Other Liabilities8269547710094122142152129193157
Total Liabilities3353263695047567529081,0871,0821,1921,3851,406
Fixed Assets137136131148150203191228225230230246
CWIP2117351818111161546
Investments302000091514575137275298
Other Assets167169237349570522549803771818865816
Total Assets3353263695047567529081,0871,0821,1921,3851,406
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity60471629-52263170-6521341172132
Cash from Investing Activity-41-58-31-46-53-14964-43-76-148-75
Cash from Financing Activity-19-43-242102-169-40-25-15249-1-89
Net Cash Flow-0-1-00440-19-26181423-33
Free Cash Flow46323-3-100204160-1211911413759
CFO/OP88%80%36%42%-5%137%92%-3%134%59%120%88%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days667171102103759913096138131113
Inventory Days737175661127090120141135136150
Days Payable483217252417333033376744
Cash Conversion Cycle91110129143191128156221204236200219
Working Capital Days143266879694114136165199170192
ROCE %27%25%34%39%32%34%31%28%20%11%14%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%
FIIs0.35%0.34%0.34%0.35%0.46%0.45%0.49%0.56%0.47%0.43%0.54%0.41%
DIIs2.57%2.57%2.57%2.59%2.64%2.60%2.75%2.74%2.75%2.52%2.14%2.00%
Public22.09%22.09%22.09%22.07%21.90%21.96%21.77%21.71%21.79%22.05%22.33%22.61%
No. of Shareholders16,05915,39814,66715,15615,88915,85715,03615,66815,38821,33321,93522,445

Fundamentals

Market Cap₹ 1,673 Cr.
Current Price₹ 1,006
Stock P/E12.0
Book Value₹ 751
ROCE16.1 %
ROE12.2 %
Dividend Yield0.05 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)-5%
Compounded Profit Growth (TTM)-9%
Standalone figures.
Valuation
Market capRs 1,660 Cr
Enterprise valueRs 1,638 Cr
P/E (TTM)12.21x
Price to book1.33x
Price to sales1.38x
EV / EBITDA7.71x
EV / EBIT8.84x
EV / sales1.36x
Price to cash flow12.57x
Earnings yield8.19%
Dividend yield0.05%
P/E, 3-year average11.22x
P/B, 3-year average1.17x
P/E, 5-year average9.60x
P/B, 5-year average1.24x
Profitability
Operating margin (excl. other income)16.07%
Operating margin (incl. other income)17.87%
EBITDA margin17.66%
Pre-tax margin15.05%
Net profit margin11.30%
Net margin, latest quarter10.84%
ROE12.14%
ROCE16.00%
ROA10.24%
ROE, 3-year average10.93%
ROCE, 3-year average14.26%
ROA, 3-year average9.04%
ROE, 5-year average14.41%
ROCE, 5-year average18.12%
ROA, 5-year average11.39%
ROIC (approx.)11.33%
Tax rate25.00%
Other income / net worth1.79%
Growth
Sales growth (latest year)5.96%
Profit growth (latest year)14.25%
Sales CAGR, 3 years0.17%
Sales CAGR, 5 years2.60%
Profit CAGR, 3 years2.99%
Profit CAGR, 5 years-2.77%
Sales growth QoQ9.79%
Profit growth QoQ-6.34%
Sales growth YoY (latest quarter)-10.40%
Profit growth YoY (latest quarter)-16.08%
Per share
EPS (TTM)Rs 81.77
EPS (latest year)Rs 85.99
EPS (latest quarter)Rs 22.04
EPS, 3-year averageRs 194.49
EPS, 5-year averageRs 264.92
Book value per shareRs 751.18
Sales per shareRs 723.54
Cash flow per shareRs 79.43
Free cash flow per shareRs 35.50
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 1.16
Dividend per share, 5-year averageRs 1.29
Dividends
Dividend payout0.58%
Dividend payout, 3-year average0.61%
Dividend payout, 5-year average0.53%
Efficiency
Asset turnover0.88x
Fixed asset turnover5.04x
Inventory turnover2.75x
Inventory days133 days
Debtor days113 days
Debtors turnover3.22x
Creditor days44 days
Cash conversion cycle219 days
Working capital days192 days
Leverage
Total debtRs 1 Cr
Cash and bankRs 23 Cr
Net debtRs -22 Cr
Debt to equity0.00x
Net debt / EBITDA-0.10x
Interest coverage41.85x
Current ratio (filing 2026-03-31)7.78x
Quick ratio (filing 2026-03-31)5.35x
Trade payables (filing 2026-03-31)Rs 97 Cr
Owners' fund to total sources88.78%
Debt to assets0.09%
Cash flow
Cash from Operating Activity (latest year)Rs 132 Cr
Cash from Investing Activity (latest year)Rs -75 Cr
Cash from Financing Activity (latest year)Rs -89 Cr
Net Cash Flow (latest year)Rs -33 Cr
Free cash flow (latest year)Rs 59 Cr
FCFE (approx.: FCF + change in debt)Rs -25 Cr
Cash from ops / profit, 5 years0.75x
Sales to cash flow9.40x
Statement figures
Net sales (TTM)Rs 1,203 Cr
Net sales (latest year)Rs 1,240 Cr
Sales (latest quarter)Rs 338 Cr
Operating profit excl. other income (latest year)Rs 199 Cr
Operating profit (latest quarter)Rs 51 Cr
Other income (TTM)Rs 36 Cr
EBITDA (TTM)Rs 212 Cr
PBDT (TTM)Rs 208 Cr
Profit before tax (TTM)Rs 181 Cr
Tax (latest year)Rs 48 Cr
Net profit (TTM)Rs 136 Cr
Net profit (latest year)Rs 143 Cr
Net profit (latest quarter)Rs 37 Cr
Depreciation (TTM)Rs 27 Cr
Depreciation (latest quarter)Rs 7 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 911 Cr
Total expenditure (latest year)Rs 1,041 Cr
Total income (latest year)Rs 1,263 Cr
Share capitalRs 8 Cr
ReservesRs 1,240 Cr
Shareholders' fundsRs 1,249 Cr
Total assetsRs 1,406 Cr
Net blockRs 246 Cr
Capital work in progressRs 46 Cr
InvestmentsRs 298 Cr
ReceivablesRs 385 Cr
InventoryRs 331 Cr
Other liabilitiesRs 157 Cr
Shares outstanding (crore)1.66
Ownership
Promoter holding74.99% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 12.2 is the lowest in its own 9.4-year history (median 26.3, low 12.2, high 65.5).
P/B 1.33 is the lowest in 9.4 years (median 5.72).
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.
PeriodBHARATRASNifty 50Difference
1 week-10.4%-2.8% -7.6 pts
1 month-19.0%-6.8% -12.2 pts
3 months-25.6%-7.6% -18.0 pts
6 months-17.5%+0.4% -17.9 pts
1 year-60.3%-9.9% -50.4 pts
2 years-67.0%-13.6% -53.5 pts
3 years-56.5%+14.2% -70.7 pts
5 years-67.1%+27.9% -95.0 pts
2 mutual fund schemes hold about ₹38 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
PGIM India Midcap Fund0.23%25 +16%
PGIM India Small Cap Fund0.72%13 +14%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
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 ₹338 Cr -10.3% vs Jun 2025. Net profit ₹37 Cr -15.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-17Dividend - Re 0.50 Per Share
2025-12-12Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share0.5000
2025-12-12Bonus 1:10.5000
2025-09-12Dividend - Rs 1.50 Per Share
2024-09-12Dividend - Rs 1.50 Per Share
2024-09-12Annual General Meeting
2023-09-06Dividend - Rs 1.50 Per Share
2023-09-06Annual General Meeting
2022-09-05Annual General Meeting/Dividend - Rs 1.50 Per Share
2021-09-06 Annual General Meeting/Dividend - Rs 1.50 Per Sh
2021-03-04 Buy Back
2020-09-16 Annual General Meeting/Dividend - Rs 1.50 Per Share
2019-09-17 Dividend - Rs 1.50 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 1.50 Per Share
2017-09-19 Annual General Meeting/Dividend - Rs 1.50 Per Share
2016-09-20 Dividend - Rs 1.20 Per Share
2015-09-16 Annual General Meeting/ Dividend - Rs 1.50/- Per Share
2014-09-18Annual General Meeting / Final Dividend - Re 1/- Per Share
2013-09-16Annual General Meeting
2012-09-18Annual General Meeting/Dividend Re 1.20 Per Share
2011-09-22Annual General Meeting And Dividend Rs.1.20 Per Share
2010-08-12Annual General Meeting And Dividend Rs.1.80 Per Share
2009-09-17Agm/Div-Re.1/- Per Share
2008-09-22Agm/Dividend - 10%
2007-09-20Agm
2006-09-22Agm
DateTypeWhat it says
2026-10-01Structural Digital DatabaseCompliance Certificate under Regulations 3(5) and 3(6) of SEBI (PIT) Regulations, 2015
2026-09-25Shareholder meetingProceedings of Annual General Meeting held on September 24, 2026
2026-09-25Shareholder meetingVoting results of Annual General Meeting held on September 24, 2026
2026-09-25Shareholder meetingBharat Rasayan Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 24, 2026
2026-09-25Shareholder meetingVoting results of Annual General Meeting held on September 24, 2025
2026-09-25Shareholder meetingScrutinzers Report
2026-09-24Shareholder meetingProceedings of 37th Annual General Meeting
2026-09-07Disclosure under SEBI TakeovCentum Finance Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisiti...
2026-09-03Disclosure under SEBI TakeovMPG Family Trust  has submitted to  the Exchange a copy of Disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011.
2026-09-03Disclosure under SEBI TakeovCentum Finance Ltd has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition m...
2026-08-27Disclosure under SEBI TakeovBharat Rasayan Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Subst...
2026-08-27Disclosure under SEBI TakeovCENTUM FINANCE LIMITED has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Subst...
2026-08-24Disclosure under SEBI TakeovMPG Family Trust  has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition ma...
2026-08-24UpdatesDisclosure in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ).
2026-08-17Disclosure under SEBI TakeovBharat Rasayan Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Subst...
2026-08-13Record DateRecord date for the purpose of Dividend & Meeting is 17-Sep-2026.
2026-08-13General UpdatesGeneral Updates
2026-08-13Board meeting outcomeBharat Rasayan Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-13Board meeting outcomeBharat Rasayan Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-04AppointmentAppointment of Shri VARUN DABRIWAL as Non- Executive Independent Director of the company w.e.f. July 04, 2026.
2026-07-03Structural Digital DatabaseCompliance Certificate under regulations 3(5) and 3(6) of SEBI (PIT) Regulations, 2015
2026-06-30ResignationResignation of Director/KMP/SMP
2026-06-30CessationCessation of Shri NAMAN JAIN as Non- Executive Independent Director of the company w.e.f. July 01, 2026.
2026-06-10Disclosure under SEBI TakeovBharat Rasayan Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisiti...
2026-06-10Disclosure under SEBI TakeovBRL FINLEASE LIMITED has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition...
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.
High low price variation greater than 150perc in previous 12 monthsHigh low price variation greater than 200perc in previous 365 Days

Quick answers

What is the market cap of Bharat Rasayan Ltd?

Bharat Rasayan Ltd (BHARATRAS) has a market capitalisation of Rs 1,673 Cr. at the 2026-10-01 close.

What is the P/E ratio of Bharat Rasayan Ltd?

Bharat Rasayan Ltd trades at a P/E of 12.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Bharat Rasayan Ltd's latest quarterly results?

In the Jun 2026 quarter, Bharat Rasayan Ltd sales was Rs 338 Cr (-10.3% vs Jun 2025) and net profit was Rs 37 Cr.

What is the 52-week high and low of Bharat Rasayan Ltd?

The 52-week high is Rs 2,987.50 and the 52-week low is Rs 998.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03