MarketFriction

Madhya Bharat Agro Products Ltd

NSE MBAPL · Fertilizers
₹165.83 -2.81%
NSE close2026-10-01
52 week range74.63 - 174.94
Market cap₹7,310 Cr.
P/E47.2
IPO 2016 · +9972% since Microcap 250 Price band 20% Delivery 55.6%

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
Sales278244146200278284297410450612395416
Expenses238226132167242244261353388546353350
Operating Profit401814343639365762664166
OPM %15%7%10%17%13%14%12%14%14%11%10%16%
Other Income109222632395
Interest84897577691115
Depreciation7779998999912
Profit before tax2678182327274449513144
Tax %42%80%82%36%39%34%47%36%37%37%-95%26%
Net Profit1511111418142830326033
EPS in Rs0.340.030.030.260.320.410.330.640.700.721.360.75
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6582901071291854909818151,0581,8661,874
Expenses52606978941433847727199121,6391,638
Operating Profit12212129354210721096145227235
OPM %19%26%23%28%27%23%22%21%12%14%12%13%
Other Income0400000511111719
Interest35543481626283241
Depreciation47810109182229343740
Profit before tax6137162129811765295174174
Tax %-55%11%30%27%31%29%30%29%52%39%14%
Net Profit9125111520571242557150155
EPS in Rs0.210.270.120.260.340.461.302.830.571.313.433.53
Dividend Payout %0%9%21%10%7%5%2%2%18%8%3%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth40%59%24%48%
Compounded Profit Growth32%49%6%109%
Stock Price CAGR%76%40%120%
Return on Equity22%25%19%31%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital182222222222222244888888
Reserves5469808495108127183285263316462
Borrowings9183436264070164323290318856
Other Liabilities13414111619457092163223277
Total Liabilities941131491531601892644397438049461,682
Fixed Assets598894102938385153203265279436
CWIP609993175201474277
Investments110000000000
Other Assets272446425875104283540525592968
Total Assets941131491531601892644397438049461,682
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity611819151430-72-7014896-127
Cash from Investing Activity-3-27-17-16-1-22-56-13-65-92-92-373
Cash from Financing Activity-3168-3-1492585141-61-4501
Net Cash Flow-10-0-001-1-06-60-0
Free Cash Flow3-16-14314-8-26-85-14043-12-524
CFO/OP104%101%48%104%62%54%83%-54%-19%163%77%-43%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days334057487679545574838883
Inventory Days74582041301592102142001251368596
Days Payable59178047393788468404836
Cash Conversion Cycle4880180131195252181210191178125144
Working Capital Days65877445103123676561545149
ROCE %12%9%15%9%14%16%17%30%38%12%18%19%
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters74.54%74.52%74.43%74.51%74.56%74.56%74.56%74.63%74.76%74.76%74.76%71.38%
FIIs0.00%0.00%0.00%0.00%0.00%0.03%0.11%0.43%0.19%0.46%0.67%1.03%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.07%
Public25.46%25.48%25.57%25.49%25.44%25.41%25.34%24.95%25.06%24.78%24.57%27.52%
No. of Shareholders10,22710,12110,11110,4339,7188,96611,82212,54613,34812,75812,26015,993

Fundamentals

Market Cap₹ 7,310 Cr.
Current Price₹ 167
Stock P/E47.2
Book Value₹ 12.6
ROCE19.3 %
ROE31.3 %
Dividend Yield0.06 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)48%
Compounded Profit Growth (TTM)109%
Standalone figures.
Valuation
Market capRs 7,266 Cr
Enterprise valueRs 8,097 Cr
P/E (TTM)46.89x
Price to book13.22x
Price to sales3.88x
EV / EBITDA31.79x
EV / EBIT37.69x
EV / sales4.32x
Earnings yield2.13%
Dividend yield0.06%
P/E, 3-year average10.32x
P/B, 3-year average1.30x
P/E, 5-year average6.75x
P/B, 5-year average0.97x
Profitability
Operating margin (excl. other income)12.14%
Operating margin (incl. other income)13.04%
EBITDA margin13.59%
Pre-tax margin9.30%
Net profit margin8.27%
Net margin, latest quarter7.92%
ROE31.50%
ROCE19.40%
ROA11.43%
ROE, 3-year average18.01%
ROCE, 3-year average16.52%
ROA, 3-year average7.07%
ROE, 5-year average26.55%
ROCE, 5-year average23.49%
ROA, 5-year average11.69%
ROIC (approx.)13.42%
Tax rate13.71%
Other income / net worth3.07%
Growth
Sales growth (latest year)76.42%
Profit growth (latest year)161.27%
Sales CAGR, 3 years23.88%
Sales CAGR, 5 years58.79%
Profit CAGR, 3 years6.54%
Profit CAGR, 5 years49.31%
Sales growth QoQ5.47%
Profit growth QoQ-44.85%
Sales growth YoY (latest quarter)1.61%
Profit growth YoY (latest quarter)16.84%
Per share
EPS (TTM)Rs 3.54
EPS (latest year)Rs 17.14
EPS (latest quarter)Rs 0.75
EPS, 3-year averageRs 8.84
EPS, 5-year averageRs 16.18
Book value per shareRs 12.55
Sales per shareRs 42.76
Cash flow per shareRs -2.91
Free cash flow per shareRs -11.96
Dividend per share (latest year)Rs 0.50
Dividend per share, 3-year averageRs 0.50
Dividend per share, 5-year averageRs 0.50
Dividends
Dividend payout2.92%
Dividend payout, 3-year average9.39%
Dividend payout, 5-year average6.37%
Efficiency
Asset turnover1.11x
Fixed asset turnover4.27x
Inventory turnover4.03x
Inventory days91 days
Debtor days83 days
Debtors turnover4.38x
Creditor days36 days
Cash conversion cycle144 days
Working capital days49 days
Leverage
Total debtRs 856 Cr
Cash and bankRs 25 Cr
Net debtRs 831 Cr
Debt to equity1.56x
Net debt / EBITDA3.26x
Interest coverage5.29x
Current ratio (filing 2026-03-31)1.44x
Quick ratio (filing 2026-03-31)0.87x
Trade payables (filing 2026-03-31)Rs 134 Cr
Owners' fund to total sources32.67%
Debt to assets50.87%
Cash flow
Cash from Operating Activity (latest year)Rs -127 Cr
Cash from Investing Activity (latest year)Rs -373 Cr
Cash from Financing Activity (latest year)Rs 501 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -524 Cr
FCFE (approx.: FCF + change in debt)Rs 14 Cr
Cash from ops / profit, 5 years-0.06x
Statement figures
Net sales (TTM)Rs 1,874 Cr
Net sales (latest year)Rs 1,866 Cr
Sales (latest quarter)Rs 416 Cr
Operating profit excl. other income (latest year)Rs 227 Cr
Operating profit (latest quarter)Rs 66 Cr
Other income (TTM)Rs 19 Cr
EBITDA (TTM)Rs 255 Cr
PBDT (TTM)Rs 214 Cr
Profit before tax (TTM)Rs 174 Cr
Tax (latest year)Rs 24 Cr
Net profit (TTM)Rs 155 Cr
Net profit (latest year)Rs 150 Cr
Net profit (latest quarter)Rs 33 Cr
Depreciation (TTM)Rs 40 Cr
Depreciation (latest quarter)Rs 12 Cr
Interest (TTM)Rs 41 Cr
Cost of goods sold (latest year)Rs 1,451 Cr
Total expenditure (latest year)Rs 1,639 Cr
Total income (latest year)Rs 1,883 Cr
Share capitalRs 88 Cr
ReservesRs 462 Cr
Shareholders' fundsRs 550 Cr
Total assetsRs 1,682 Cr
Net blockRs 436 Cr
Capital work in progressRs 277 Cr
ReceivablesRs 426 Cr
InventoryRs 360 Cr
Other liabilitiesRs 277 Cr
Shares outstanding (crore)43.81
Ownership
Promoter holding71.38% (-3.25 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 46.9 is at the 79th percentile of its own 9.3-year range (median 21.3, low 8.0, high 103.2).
P/B 13.22 is at the 96th percentile (median 4.26).
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.
PeriodMBAPLNifty 50Difference
1 week+1.1%-2.8% +3.9 pts
1 month+3.1%-6.8% +9.9 pts
3 months+32.5%-7.6% +40.1 pts
6 months+80.1%+0.4% +79.7 pts
1 year+99.1%-9.9% +109.0 pts
2 years+280.1%-13.6% +293.6 pts
3 years+171.5%+14.2% +157.3 pts
5 years+1570.0%+27.9% +1542.1 pts

Red flags

F-score 3 of 8
explainHigh accruals Profit exceeded operating cash by 16% of total assets in 2026
lookInventory outrunning sales Inventory grew 116% vs sales +76% in 2026
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 ₹416 Cr +1.5% vs Jun 2025. Net profit ₹33 Cr +17.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-03Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2026-06-17Dividend - Re 0.50 Per Share
2025-08-26Dividend - Rs 0.50 Per Share
2024-09-13Dividend - Rs 0.50 Per Share
2023-10-20Bonus 1:10.5000
2023-09-18Annual General Meeting/Dividend - Rs 0.50 Per Share
2022-10-18Bonus 1:10.5000
2022-09-16Annual General Meeting/Dividend - Re 0.50 Per Share
2021-09-17 Annual General Meeting/Dividend - Rs 0.50 Per Share
2020-09-17 Annual General Meeting/Dividend - Rs 0.50 Per Share
2019-09-18 Annual General Meeting/Dividend - Rs 0.50 Per Share
No announcements in our files yet.
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.
Close to Close price movement greater than 100perc in previous 365 daysScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Madhya Bharat Agro Products Ltd?

Madhya Bharat Agro Products Ltd (MBAPL) has a market capitalisation of Rs 7,310 Cr. at the 2026-10-01 close.

What is the P/E ratio of Madhya Bharat Agro Products Ltd?

Madhya Bharat Agro Products Ltd trades at a P/E of 47.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Madhya Bharat Agro Products Ltd's latest quarterly results?

In the Jun 2026 quarter, Madhya Bharat Agro Products Ltd sales was Rs 416 Cr (+1.5% vs Jun 2025) and net profit was Rs 33 Cr.

What is the 52-week high and low of Madhya Bharat Agro Products Ltd?

The 52-week high is Rs 174.94 and the 52-week low is Rs 74.63.

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