BHAGERIA

Bhageria Industries Limited

Specialty organic and inorganic chemicals, solar power and pharmaceuticals producer

Commodities›Chemicals›Chemicals & Petrochemicals›Dyes And Pigments

bhageriagroup.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹363.30
Market cap
1,585 Cr
Stock P/E
23.0
P/B
2.67
Dividend yield
0.4%
ROE (FY26)
7.8%
ROCE (FY26)
9.4%
Operating margin (FY26)
6.7%
Debt / equity (FY26)
0.17
OCF / EBITDA (FY26)
108.0%
OCF / EBITDA (3Y)
80.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Bhageria Industries makes dye intermediates and specialty chemicals, mainly H-acid, vinyl sulphone and gamma acid, sold to dye manufacturers that serve textile and leather customers, and it also runs solar power and pharmaceutical businesses.

Company snapshot

5thBy market cap

Ranked among 11 companies in Dyes And Pigments.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 83.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Chemical
83.1%
143 Cr22 Cr485 Cr
Other
12.8%
22 Cr-3 Cr64 Cr
Solar Power
4.2%
7 Cr3 Cr121 Cr

What we see

Positives
  • ✓Debt-to-equity of 0.17x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales103 Cr112 Cr182 Cr113 Cr129 Cr170 Cr183 Cr157 Cr204 Cr242 Cr271 Cr286 Cr
Operating expenses (approx.)94 Cr98 Cr168 Cr101 Cr116 Cr143 Cr153 Cr140 Cr181 Cr222 Cr240 Cr244 Cr
EBITDA8 Cr14 Cr14 Cr12 Cr14 Cr27 Cr29 Cr18 Cr23 Cr20 Cr31 Cr42 Cr
OPM %8.2%12.5%7.9%10.3%10.5%15.8%16.1%11.2%11.3%8.2%11.3%14.7%
Other income4 Cr6 Cr4 Cr5 Cr3 Cr-2 Cr0.99 Cr6 Cr2 Cr3 Cr-4 Cr16 Cr
Interest0.41 Cr0.30 Cr0.52 Cr0.76 Cr0.54 Cr0.77 Cr0.73 Cr0.99 Cr0.75 Cr0.74 Cr0.94 Cr2 Cr
Depreciation8 Cr8 Cr8 Cr7 Cr8 Cr8 Cr8 Cr8 Cr8 Cr8 Cr9 Cr10 Cr
Profit before tax4 Cr11 Cr10 Cr8 Cr8 Cr16 Cr22 Cr15 Cr16 Cr14 Cr17 Cr46 Cr
Tax %29.5%28.2%33.6%27.7%24.4%29.5%29.9%29.4%28.6%21.5%32.3%26.4%
Net profit3 Cr8 Cr6 Cr6 Cr6 Cr11 Cr15 Cr11 Cr11 Cr11 Cr11 Cr34 Cr
EPS (₹)₹0.63₹1.89₹1.55₹1.36₹1.50₹2.78₹3.61₹2.58₹2.70₹2.56₹2.71₹7.83

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales402 Cr601 Cr501 Cr494 Cr595 Cr874 CrSign in free for the trailing twelve months
Operating expenses (approx.)298 Cr485 Cr447 Cr451 Cr513 Cr783 CrSign in free for the trailing twelve months
EBITDA104 Cr116 Cr54 Cr43 Cr81 Cr91 CrSign in free for the trailing twelve months
OPM %25.8%19.4%10.9%8.7%13.7%10.4%Sign in free for the trailing twelve months
Other income4 Cr9 Cr4 Cr17 Cr7 Cr7 CrSign in free for the trailing twelve months
Interest1 Cr2 Cr4 Cr2 Cr3 Cr3 CrSign in free for the trailing twelve months
Depreciation26 Cr29 Cr34 Cr32 Cr31 Cr33 CrSign in free for the trailing twelve months
Profit before tax81 Cr95 Cr20 Cr26 Cr54 Cr62 CrSign in free for the trailing twelve months
Tax %22.7%25.9%27.8%29.5%28.6%28.2%Sign in free for the trailing twelve months
Net profit63 Cr71 Cr15 Cr19 Cr39 Cr44 CrSign in free for the trailing twelve months
EPS (₹)₹14.36₹16.17₹3.38₹4.37₹9.26₹10.56Sign in free for the trailing twelve months
Dividend payout %21.0%21.7%118.8%23.6%11.3%14.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital22 Cr22 Cr22 Cr22 Cr22 Cr22 Cr
Reserves430 Cr485 Cr484 Cr501 Cr536 Cr575 Cr
Borrowings31 Cr35 Cr38 Cr47 Cr45 Cr101 Cr
Other liabilities92 Cr104 Cr87 Cr106 Cr132 Cr166 Cr
Total liabilities575 Cr646 Cr631 Cr676 Cr733 Cr860 Cr
Fixed assets (net)318 Cr392 Cr363 Cr345 Cr348 Cr383 Cr
CWIP45 Cr0.01 Cr8 Cr17 Cr11 Cr117 Cr
Investments6 Cr10 Cr15 Cr27 Cr24 Cr25 Cr
Loans & advances0.27 Cr0.26 Cr0.44 Cr0.50 Cr0.54 Cr1 Cr
Inventories38 Cr65 Cr43 Cr44 Cr49 Cr56 Cr
Trade receivables95 Cr104 Cr127 Cr156 Cr187 Cr159 Cr
Cash & bank18 Cr22 Cr11 Cr6 Cr2 Cr5 Cr
Other assets54 Cr53 Cr63 Cr80 Cr111 Cr114 Cr
Total assets575 Cr646 Cr631 Cr676 Cr733 Cr860 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity58 Cr76 Cr28 Cr23 Cr52 Cr99 Cr
Cash from investing-44 Cr-58 Cr-23 Cr-33 Cr-46 Cr-141 Cr
Cash from financing-3 Cr-14 Cr-16 Cr5 Cr-9 Cr46 Cr
Net cash flow10 Cr4 Cr-11 Cr-5 Cr-3 Cr3 Cr
Free cash flow (OCF − Capex)18 Cr17 Cr14 Cr-4 Cr25 Cr-45 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %17.0%17.9%4.4%4.9%9.5%9.4%
ROE %13.9%13.9%2.9%3.7%7.3%7.8%
Debtor days86639311511466
Inventory days727146665838
Days payable715643918150
Cash conversion cycle887896919254
OCF / EBITDA %56.0%65.0%50.7%53.4%64.0%108.0%
OCF / EBITDA % (3 years)——58.7%59.0%57.4%80.5%
Debt / equity0.070.070.080.090.080.17
Current ratio2.432.512.832.742.682.19
Net debt / EBITDA0.130.110.500.970.521.05